Number 1 thing young people get wrong when it comes to finances. #shorts

Kevin O'Leary - Number 1 thing young people get wrong when it comes to finances. #shorts

[darkveil]

They do it on purpose. Learning finances is key to navigating this world. So they want you to stay trapped🤷‍♂️

[thechad]

I worked 72 hours a week at 13.30 an hour...
And made 55k.... It broke my body

[estefaniarodriguez]

You cant save money when life is more expensive than what you make

[NoobPatel]

Yes, they forget to teach us about Kevin’s FTX scandal.

[bartman]

Keep saving for retirement...
It makes the bankers rich!
And if you actually live until you can retire all your money will go towards medical bills or be minimized by inflation. Enjoy your youth...old age sucks.

[chris-suns]

This will definitely work in a world where there are no greedy bankers who trigger a financial crisis every ten years and in the process evaporate the savings of the middle class.

[tre]

The real reason the kids never learnt about money in school is because most teachers themselves knew very little about investing. Money has always been a taboo topic!

[CaseTheCritic]

Literally living in a world where depending on where you live you can’t save a dime even if you’re making above average.

[johnnydynamite]

I was quite a good student, and I only discovered about financial independance, passive income, and compond interest when I was 27-28 through personal reading, because I'm from a background where no one knows about it, and I was kinda mad that I wasn't taught this in school, because I realized instead of going for long studies I could have gone to trades to make as amuch and be already halfway through my mortgage instead of having pissed it all out in rent and zero saving/investment. I still managed to tuen it around, but not being told about this in school litteraly set me back ten years

[darrellmuhammad]

The importance of saving, credit, debt, investing. The earlier we understand how all of these affect our life, the better off we'll be.

[Hockeyreview]

I make 20 an hour with this economy and post tax you’re really only being home around 35k if you want a place to live it’s very tough to save 10%

[MistaJayLJ]

At 52k a year you’d have to save 40% of your wages for 50yrs to get 1.2mil

[marioserpico]

I know a family that are good, smart people, excellent with numbers, and all of them are in the finance sector. They were saving money each year (more than 10% actually) thinking they will get rich. They got robbed by the bank itself when the crisis arrived in 2007. Teach them at school.

[DaDitka]

The biggest mistake I have made in my life was thinking that self-esteem was more important than self-discipline. If I would have focused on the latter in my youth (I'm 51), I would be far, far, far better off now. This includes money and finances.

The thing is, though, it's never too late to change your course. True, there's a lot of time I have missed because of my foolishness. But as long as there is breath in my body, I can still make changes to my life that will improve me. I just have to do them, and do so one step at a time.

Don't think it's too late, guys. You can still do better in life, but only if you want to do so.

[joshuamatthews]

The thing about averages, more people earn less and a few earn millions

You also got to decide whether you want something now, or wait til you’re 65 and hope you can still do the things you missed out on

[Violeta_hzl]

One time I had 50k for years into my savings then I went to the bank, because I wanted to buy a property for the price of 80k I asked for a 30k loan and the bank said no! I went and withdrew all my money in a heart beat!

[jessgatt]

Here's a couple things to teach the young. #1 Eat at home, take your lunch, carry your coffee in a thermos. and #2, if you have needs then satisfy those, if you have wants then decide just what it is that you want through the lens of "do you need it?". Put your money where it does the most good. Did I mention interest>> do not pay interest on anything, own what you own.

[huejanus]

The problem is that usually people in their 20’’s and 30’s, aren’t making $52, 000 a year and are usually struggling with house, appliance, vehicle and child rearing expenses. Those are the years compound interest will yield the greatest results.
Also, if $52, 000 is the average, then if one person is making $100, 000 that means one person is only making a few thousand, the graph is skewed.

[kylebridgett]

I agree with Mr. Wonderful. If I wasn't lucky enough to have my parents teach me I'd have no clue

[sparklemotion]

I thought he was going to say, ask for more money.
He is talking about investing while people have to choose between food and paying rent