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FIRST: HAVE A BUDGET BY TRACKING YOUR EXPENSES AND REDUCING UNNECESSARY SPENDING.
No joke, without exaggeration…if you JUST do this one step, and skip the rest of this video, trust me, you’ll be ahead of probably 99% of the ENTIRE US population.
SECOND: CREATE AN EMERGENCY FUND OF AT LEAST 3-6 MONTHS WORTH OF YOUR EXPENSES.
Having a this type of 3-6 month emergency fund means you won’t have to rely on credit cards to pay your way through any type of unexpected event, you won’t have to sell stocks or other investments at a time where they might have declined in value, and you won’t have to take on high interest debt if something were to happen.
THIRD: TAKE ADVANTAGE OF RETIREMENT PLAN MATCHING.
Many employers offer what’s called a 401k employer match, where they will match your contribution, dollar for dollar, up to a certain amount in a 401k retirement account.
FOURTH: BEGIN TO PAY OFF off ALL HIGH INTEREST RATE DEBT.
The FIRST is called the “Avalanche Method” – This works by paying off the HIGHEST interest rate debt first, and then working your way down until everything is completely paid off. The SECOND method is the Dave Ramsey approach, and that’s called the snowball method. This works by paying off the smallest BALANCE, first, regardless of the interest rate, and once that’s paid off, using that extra money to pay off the rest.
FIFTH: USE THAT MONEY TO INVEST BACK INTO YOURSELF…SO THAT YOU CAN MAKE MORE MONEY.
This could be buying books, this could be learning a new skill, this could be investing back into your business…self education and improvement, in my opinion, is absolutely vital at this stage.
SIXTH: INVEST IN A ROTH IRA
This is an account that allows you to invest your after-tax money, and when you’re 59.5, all the profit you make within that account is completely TAX FREE.
SEVENTH: INVEST IN A TAXABLE ACCOUNT
This means that you have your brokerage account where you just buy / invest in long term assets, only once you’ve done the previous 6 steps.
This isn’t meant to be something you do in a week, some people could potentially take YEARS to get to the point where they have all of this in order…but I gotta say, from what I’ve seen, nearly EVERY wealthy person I’ve met follows these steps and that allows them to focus on the FINAL part of this video, by increasing their income even further…and subscribing if they haven’t done that already.
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*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice. Public Offer valid for U.S. residents 18+ and subject to account approval. There may be other fees associated with trading. See Public.com/disclosures/
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"Year-over-year inflation stood at 6.5% in December 2022—the lowest that figure has been in more than a year. Inflation was in line with what economists expected and gave many of them a reason to believe that the peak of inflation may be behind us. I have approximately $150k stagnant in my port_folio that needs growth. What is the best way to take advantage of this downturn?
What kind of idiot thinks the middle class exists?
Did he start off " whats up Graham its guys here!"
Rich people want to destroy the middle class and we must do a revolution
Be careful with 401 plans. Make sure if you leave the company you get to take your 401 cash with you without penalty. Also those plans look like low hanging fruit for the crooks in our government when they need cash.
I'm new to cryptocurrency and I don't understand how it really works. I've lost quite a large amount of BTC investment due to the current drop. Can anyone show me the right approach to invest with cryptocurrency and get good profits??
A moment of silence for the starving people making 250k a year sad
Lets go RuneScape doubling money
Graham, you are not screwed.
3:36
What’s up graham it’s guys here. Nice
After binging these videos i learned graham wants to make that only fans
I will forever be in-depted to you Madelyn you've changed my life, I'll continue to preach about your name for the world to hear, you've saved me from a huge financial dept without minding my bad credit score with just a little investment🇺🇲🇺🇲
Lmao everyone hit the like button to make sure Graham doesn’t start an only fans.
Paycheck is like 1300 and my one bedroom apt is 1200 sometimes $1500 because all the fees. Some people don’t have relatives or anyone holding their hand.
It’s a matter of keeping a roof over your head. It’s a matter of fitting in society when this is a rich/greedy mans world. I have No government assistance.
Stable people will never understand: ppl are just hella biased&point fingers.
What can I invest when stocks cost hundreds of dollars?
Middle-class got ruined 20 to 30 years ago by higher and higher rent due to the greed of the top 10%.
No, getting eaten up in food is not a bad pun.
Middle class is the more screwed up one!!!
I'm screwed!
WHY do you talk with your hands so much? Are you… ITALIAN???
I'm one of these dumb asses, I went from making $25k a year in 2019 to just over $100k a year now. Yepp, was living paycheck to paycheck in 2019 and still am today. So dumb. Making changes now.
I’ll give you $1 million if you’re Ally people pick up in one minute last time it was 28 min for me also the yield has been increased to 1.00 %
10/10
"whats up graham its guys here" xD sounds like something id say
The reason why no one is putting money away in savings is that it gets eaten away by inflation . Banks pay .02% interest. This isn't the 1980s with decent interest rates for bank accounts
What’s up Graham it’s guys here lol
VRAU BANI.mej.75%.
commenting for the algorithm
Most people are so poor that all they have is money, invest some of it no matter how small, when you invest you are buying a day that you don't have to work.
Ima be real, living below my means has been hurting my mental health
Anyone else in the same boat as me whereas "investing" is why I now have absolutely no money? Lol … Can't make this up.
“What’s up Graham, it’s guys here.” I was like: “Wait… what?”
OMG thanks you Stephen for the free money!
1st time listening. You sound like a commercial.
I’m homeless contemplating suicide
"we're screwed" you're not middle class buddy lmao
Thank God I’m poor
0:14 People making $250,000 are living paycheck to paycheck? I don't think so……. I make less than $40,000 and "I" am living "paycheck to paycheck"
For fck sakes, my take home pay is 36,000 a year, but thank God I have no kids.