6 Things Keeping You Poor

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In this video I discuss the 6 things that you need to STOP DOING immediately that are keeping you POOR. These are simple changes that you can make to your life that will result in a significant increase in your personal wealth and can lead to financial security.

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Chapters:
0:00 Intro
0:37 ISSUE 1
2:55 ISSUE 2
7:16 ISSUE 3
9:18 ISSUE 4
11:10 ISSUE 5
14:10 ISSUE 6
18:19 SUMMARY & CONCLUSION

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[kevola]

I have no debt. I pay off my credit cards every month. I drive a ten year old truck. I wear jeans and a T-shirt. All my tech is old and I carry a flip phone. I have a financial planner. My nightclub is my workshop where I have a couple of cold ones while cleaning up after maintaining my vehicles, equipment, and tools Joe just made me realize I’m a financial genius. Thanks Joe!

[BT-rkcz]

You have just described the story of my life. Happily retired early and my only problem now is making sure I spend all my wealth before I pass on. Everything you said used to be common sense!

[bonniepoole]

When I was 20, I bought a used clunker Toyota for next-to-nothing and started to put a 'car payment' into a bank account. 2 years later, I bought my first new car and paid cash. Every month since then, I put a car payment into the bank for my next vehicle. I never paid interest on a loan but earned interest at the bank.

[lindaSmith]

I have always tried to avoid debt. It never made me rich, but I know it has saved me money.

[fintonking]

Years ago I used to work with a guy who kept borrowing money from his friends. And they used to lend him thinking that he may have been struggling with his family and their upkeep. Until he came in one day, showing off his latest tattoo and told them how much it cost. They stopped lending him from that day and some of them never got repaid.

[intractablemaskvpmGy]

For me "freedom from financial disaster" is my equivalent of "rich." When I was younger a mechanical problem with the vehicle could be a catastrophe. Or an appliance crapping out. Now I get the car fixed and replace the appliance. Less stress has me feeling good.

[ferminromero]

Thanks Joe. This simple common sense means a lot coming from you. Your credibility make this advice special. Looking forward to any more you have to share.

[carstenniemann]

I often hear the argument that driving a fancy big car gives you comfort at driving, my argument is that for every hour of comfort in the car, you have to sit one day more at work, paying for the comfort

[michaelmkristensen]

We die only once, but we live every day, this is worth to remember

[svenkrackow]

Don't have any debt, no car, never went for brands, no gadgets, no nights out, never had cash to invest. But a family and an regular job (full stack programmer). To say it with Life of Brian: still hanging head down...

[erdemalptuna]

I am doing exactly what you have advised, however I was late. I figured this out after 70. Still I am much better off now at the age of 80.

[fredericmayade]

Everything he said is absolutely true, I have been able to experience it over time.

[zurielsss]

Don’t get into debt esp credit card debt
Don’t by overpriced cars
Don’t buy overpriced brands
Don’t buy every new tech gadget
Don’t drink excessively
Don’t forget to invest

[bobzzo]

"Rich dad, poor dad" - old but gold. Still a valid starting point since the financial education is yet not taught in schools.
I was almost 40 when I've realized that, better late than never thou ... :)

[MinkieWinkle]

Too many people go out their way to buy things they do not need, with money they do not have, To try and impress people they don't even know

[dlorde]

One other thing I'd mention - if you get into the habit of being reasonably frugal while you're working, not only can you save & invest more for an early retirement, but in retirement, you'll be more comfortable and happy spending a little more without straining your budget.

[derelictconfusion]

The first thing they told us when we get our private pension is re invest to make it last your lifetime, going on a world cruise, buying that car, swopping your wife/husband for a younger model really isnt the

[stevev]

It's often said that those who fail to understand compound interest end up paying it, while those who do understand EARN interest.

[dantutt]

Joe, ThanK You! You are speaking Truth! Many of us, me included, have failed, because we lack self discipline. We use every excuse we can devise to justify our lack of self discipline!!! Thank You for shining the light of truth on this issue!

[Shazam]

This is excellent advice. U have implemented all if these principles and now at age 62 I am very comfortable financially and in my life. I would encourage young people to go down this path.