Why Everyone SEEMS to Have More Money Than You

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⌚️Timestamps:
00:00 Start here
00:18 Bad choices
02:22 Lack of certainty
04:31 Human nature
06:16 The wrong focus
08:13 The rule, not the exception
09:52 They do
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All opinions expressed by Vincent Chan are solely Vincent Chan’s opinions. You should not treat any opinion expressed by Vincent Chan as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Vincent Chan’s opinions are based upon information he considers reliable, but does not warrant its completeness or accuracy, and it should not be relied upon as such. Vincent Chan is not under any obligation to update or correct any information provided. Vincent Chan’s statements and opinions are subject to change without notice.

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[thewanderingstarseed]

It always blows my mind to hear about people having a wedding, going on a honeymoon, and buying a house in one year. Then they start the renovations… like how?! I understand they probably have debt but how do they even afford the payments? Everyone makes it seem so easy

[Julia-qxec]

When I envy someone who is wealthier than me, I pause and think of how fortunate I am compared to many people in the world and throughout history.

[seatd]

Lol breaking up with the gf and then going into 15k debt to flex on your ex on socials is absolutely unhinged and pathetic.

[thecrowuknow]

My dad was an accountant and taught me good money habits growing up. I've lived a frugal life after I moved out at 19. Some of the more extreme examples are drove a car that ran alright but the back bumper was held on with duct tape and there was a big dent in the door for years and I had the same $80 flip phone on the cheapest plan for 8 years until the phone company shut down the network that it ran on and I had to finally buy a new one. We bought our first place in our mid 20s in one of the most expensive areas of the country because that's where we lived and worked. In our mid 30s we moved to the cheapest part of the country and bought a 5 bedroom house outright. Now in our late 30s we are financially independent and last year I got to quit the job that I hated and don't have to work anymore.

My friends on social media don't know any of this because I don't post about that stuff. The only things I post are nature pictures that I take during my walks, pictures of my cat or art that I have created.

[LKAsdfghjkl]

For all the people that don’t understand and probably no one tells you because is not cool…I’ll explain it to you. A lot of people have grandparents, one day they die and leave a decent amount of money and properties. I know it sounds crazy but a lot of families are not broke or broken and manage to pass wealth to the next generation that builds more wealth and passes to the other one. The numbers are shocking. The amount of people that have a regular jobs and have wealth passed from the previous generation is unbelievable. They will never tell you that. NEVER!

[Pedalbored]

I got no car payments (own 2), no credit card debt, no medical debts, no student loans, only my mortgage and invest 23% of my income into retirement and put all my spare change into stocks. I think one day I will make it. Probably sooner rather than later. I also put an extra $400 towards my mortgage principal monthly. I stay artificially broke. I will never stress over money again my entire life. I simply refuse to struggle after spending over a decade doing that!

[shonen]

In Indonesia, where my parents are from, they call people “orang kaya lama” (old money) and “orang kaya baru” (newly rich people). The latter spend a lot, show it off, and complain they don’t have enough. The former act normal, you wouldn’t know their wealth. But they check into first class or you find them strolling by the lines in fancy restaurants and being regulars there.

So yeah. Having money doesn’t mean being rich, you’re only rich when, through sound financial decisions and habits, you can let go of being preoccupied by wealth. And honestly, that mindset is available at any disposable income level. An honest factory worker with a loving family life who works hard for his kids can be the richest man in the world. Just like you mentioned, this man has a vision, a growth mindset. And honestly, my parents were like that.

[gravity_dog]

I buy everything on a credit card for the points but I pay it off almost immediately if not by month end. I’m curious to see what percentage of credit card debt is rolled over from month to month. I feel like that would be a better gauge of financial health rather than just “total credit card debt.”

[spandanbarve]

How dare youtube hide this from me for 26 minutes

[sharinglungs]

I find it more satisfying to build up wealth than inherit or be born into it. One of the toughest part to deal with is lifestyle creep. As you make more money you tend to spend more. It’s like you said, the wardrobe gets upgraded, the car gets upgraded, etc. Trying to keep that in check can be an issue when you know you have the money to cover it. When you do get the investing bug it can be a challenge because you don’t want to buy that big screen tv when you can invest the money instead to make more money. One thing I have been doing lately is using dividend money for frivolous spending. Every now and then you got to treat yourself and with doing it with dividends means you’re not having to sell your investment for spending. The other thing I find is when you do buy the luxury good or fancy car you get over the desire for it. I did it, it’s there, now I can move on to other things. It didn’t change my life in any way.

[kaemanuk]

Golden rule of life: Never compare yourself to other people. We all lead vastly differing lives with unique experiences. Compare yourself to your past self and challenge yourself in that way. It's healthy and keeps you sane. :)

[kaimulai]

Something that’s also worth considering when you combine some of the reasons you mentioned: often what one person finds to be a fulfilling career is just going to make less money than somebody else’s satisfying career. Folks who are in the entertainment industry (actors, athletes, influencers) often earn a lot more money than other career fields. But even though I don’t want to be in those industries and those people all have a lot more money than I ever will, that doesn’t bother me because that’s not what I’m trying to do or who I want to be. In general, the less someone compares oneself to others, the more one can achieve one’s own goals.

[slow_spokes]

My zits started going away when I stopped cleansing so hard and started focusing on hydration. I used to wash twice a day with foaming cleanser, but I switched to a non foaming cleanser at night and just splashing with water in the morning. Then a medium lotion morning and night. I also added the ordinary hyaluronic acid but it’s not necessary (just makes my skin look nicer). After about a month of that (and getting used to skin that felt less squeaky clean), my skin became less oily, the little bumps went away, and the big zits went away.

I think as teenagers we’re told we get zits because we don’t cleanse well enough, so we cleanse too hard, leading to zits… not always the case, but it’s worth a try!

[lilmandrny]

I learn so much on this channel!! Love the content

[johhh]

My broke ass went to starbucks last month and my card declined a capuccino💀
I spent my last money on book uncommon paths to wealth from cryptic lore and now atleast im getting some solid money

[WealthMindset-]

Many people might fund a lavish lifestyle through debt or only showcase the highlights on social media. Additionally, individual financial situations differ due to factors like cost of living, family obligations, and other “invisible” expenses. Comparing ourselves to others based on what we see on the surface often provides an incomplete picture and can lead to unnecessary self-doubt. More importantly, instead of obsessing over “who’s richer, ” we should focus on our own financial goals and strategies that align with our personal circumstances.

[CAGChannel]

Spend the $ for one dermatologist visit. It will save you from buying and buying and buying products that don’t work.

[sarahhankins]

Love the video! And...just because you asked, isotretinoin (aka Accutane) did wonders for my skin! I had similar acne to you, which is not that bad all things considered, but it was a persistent issue for years and once I graduated college, I truly felt it was holding me back. Yes, it's the nuclear option, but after 5 months of treatment I never got acne again. And this is after I had plenty of friends and strangers for years telling me I "just" needed to not drink dairy, "wash my face" (I did), put toothpaste on my zits, rub my skin with lemon juice, drink more water, stop being so stressed, exfoliate more, and a million other skin hacks that never worked. Cheers!

[reclip]

this is one of the greatest YouTube videos about people making stupid financial decisions that they can't afford that I've ever scene. as he's making correct and relevant answers to all the topics he's talking about. Great job

[verifiedgains]

I agree that having a growth mindset is the true key to "success." That said, only you could define "success, " which is largely dependent on your perception of the world. Great content!