Investing Won't Make You Rich (Probably)

Also two points to clarify:
1) By "rich," I mean the excessive disposable income promised by the investment ads I've seen (fast cars, private jets, etc.).
2) I don't disagree that investments are vital to growing your wealth (I do run an investment channel, after all), and you can make you a lot of money investing WHEN it's combined with a strong savings program. The point is to highlight that investments ALONE cannot make you rich (i.e. you can't put aside a few thousand dollars and expect to hit a million in a few years).

DISCLAIMER:
This channel is for education purposes only and is not affiliated with any financial institution. Richard Coffin is not registered to provide investment advice and as such does not provide recommendations on The Plain Bagel - those looking for investment advice should seek out a registered professional. Richard is not responsible for investment actions taken by viewers.

ALSO DISCLAIMER:
Richard is not commenting on the validity or inherent value of the cited ads.

[ThePlainBagel]

Hey everyone, three points I want to clarify:
1) by "rich, " I am referring to the excessive disposable income flaunted in the trading advertisements (i.e. fast cars, private jets, etc.). I do believe long term (with the help of compounding) you can make a lot of money investing, hence my specification of "investments won't make you rich, probably...at least not in the short-term."
2) Regarding the wealth survey, I should have highlighted that these people got to where they are by saving AND investing. The point I was trying to highlight was that they didn't get there by investing ALONE (i.e. like the example, where you invest 10K once and never again) but rather used disciplined savings to fuel their investment returns.
3) I believe investments are VITAL and that over time they can earn you a lot of money when combined with a strong savings program. Sorry if the video came off as anti-investment; I promise you that it is not.

Sorry for any confusion, one of the problems with making an unscripted video!

[jamesminor]

"If they had a strategy that earned above market returns, they'd sell it to a hedge fund, not you through a YouTube ad." Very true, many people need to hear this.

[nickspeelman]

There's only one way to get rich quick: Selling get rick quick schemes.

[StephJseph]

0:12
"2018 was a crazy year"


_Me in 2020:_
*LOL*

[rockyn]

“2018 was a crazy year”
😂😂 just wait 2 years

[GrahamStephan]

Seriously good video, very well said!

[timetoreflect]

You are a not salesman, you're just too honest.
This says a lot about your character.
Thank you, just subscribed.

[hfar_in_the_sky]

Plain Bagel: "Investing won't make you rich. Probably."
Me: "Excuse you?"
Plain Bagel: "At least, not in the short term."
Me: "Ahhhh! Carry on."

[whoeverwhoever]

then 51 yrs later, the $1M you dreamt of when you were 15 would probably be only worth $500K.

[OlavD]

“Spend $500 on my course and learn how to play in a zero/negative-sum game and become a millionaire like me. Oh, how did I make my money? Selling courses” -Every financial youtuber ever

[hwang]

i WILL be a millionaire someday, even if It costs me billions to get there

[Taylormiller]

You know. I’ve never commented on a YouTube video before, but today that changes. Thanks for doing what you do. I’m completely new to the world of investment and I can already tell as a visual learner your channel is going to be my saving grace. You make this fun and easy. All while being up front, honest, offering data backed evidence, and your own level headed logic in a field that is so often shrouded in deceit or mystery. I wish you continued success!

[zethbanta]

The Plain Bagel: "2018 was a crazy year"

2020: aM I a JoKE To yUo

[AwesumBear]

here's how to become a millionaire through investing: start with 2 million

[jaygeeth]

Finally, someone spoke the truth. Thank you. People need more of this and less of how to be a millionaire before 30 with $100.

[SwordCurseTv]

It is the mark of an educated mind to be able to entertain a thought without accepting it -Aristotle

Just putting this up here in hopes that you will never be discouraged in posting these kinds of videos :) You are truly a genuine good person, I hope your videos like this will inspire a lot more people to have the same character and pureness like you or even greater :D
Clearly you already have inspired me :)

[jrkc]

I appreciate the ACTUAL good faith you put in people. Protecting us against the "get rich quick schemes" Very much appreciated. Thank you for keeping me level headed.

[fitrianhidayat]

This is a rare channel. Most others will sell you dreams, but not this guy, he's telling the truth.

[plumbaic]

I don't usually comment on videos but this is really true. Especially in this world full of ads and instant gratification mentality.

“Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.”
-Paul Samuelson

[SwordCurseTv]

That was so sincere and well said. You are such a pure and wholesome person. I hope you a lot of people are grateful for what you do.