10 Money Traps Holding Back High-Income Earners

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Timecodes:

0:00 - Intro
0:23 - Leaving A Job Too Early
2:00 - Leaving A Job Too Late
3:05 - Try Skillshare
4:56 - Allure Of Success Symbols
6:18 - Allure Of An Oversized Home
7:24 - FREE 1-Page PDF
7:40 - Adjustable-Rate Mortgage
9:31 - Allure Of Sexy Investments
10:56 - Blindly Trusting “Finance Professionals”
12:04 - Being Scared Of The Market
13:22 - Skimming On Insurance
14:25 - Throwing Money At All Problems

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DISCLAIMER: I am not a financial adviser. These videos are for educational and entertainment purposes only. I am merely sharing my personal opinion. Please seek professional help when needed.

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My wife and I are high earners since college gradation. Both being introverts, I guess having a smaller social life helps with spending less and less peer pressure with keeping up with everyone else-- especially since moving away. When we finally realized buying stuff gave us less of that "high", we started investing even more--up to 50%.

Been debt free since age 30, with two kids in college with a fully funded 529 account.

Now its feels really weird that investment growth overshadows our earned income.

NewGuy

11. Thinking that it’s “beneath you” to use coupons or shop at discount stores. They pay more for the same product to ensure they don’t look “poor” around their cohorts.

defiantlypinki

I Really Appreciate The Time & Efforts You Invest in creating These Videos🙋🏾‍♂️

prolific

As George Washington once said, growing wealth is a mindset

DarkGreenTuber

As an ethical consideration, 2 years is the minimum you should devote when you accept a new position. Unless there's extraordinary circumstances like illegal activities... you need to commit to a minimum of 2 years. As for resume building.... 3 to 5 years is good. I'd say 7 years is probably too long if you've been in the same position. That could work against you by possibly projecting that you weren't able to grow for one reason or another.

RadixRill

What is the numerical definition of “high income earner?’

hejiranyc

Investing in cash flowing assets has been our number one goal. Have assets pay for liabilities.

theofficialpeterkim

Just letting you know that Humphrey Yang mentioned you as a wise financial "influencer." :) You two should do a collab sometime!

nikkig

Looks very dark in there, seems like you have one light bulb on, now that is frugal. If you want to be more frugal use candles and that will save you big bucks.

Islandsun