How I Doubled My Money

MY USUAL PLACES

[colinm]

1. Emergency fund: 3-6 months expenses into a HYSA
2. To invest for retirement, get your 401K match (if available). Then Roth IRA max ($7k). Then max 401k. If no 401k, just max Roth IRA
3. Toss extra money into your brokerage account. Here you can buy low-cost index funds of the S&P 500 and Total Market.
MOST IMPORTANT! IF THE MARKET DROPS/CRASHES/RECEDES, DO NOT PANIC SELL YOUR INDEX FUNDS. If anything, buy more shares.

Debt makes things more complicated and if you have any, do your research on when and how much to pay off (It's often best to pay off ASAP)

[skaila_online]

at this point wheezywaiter is just a dad advice channel

[LLivLLaffLLuv]

If you invest in index funds, make sure they have a low expense ratio. Sometimes it’s abbreviated to ER. You will see things like 2% or 1%. That is a VERY HIGH expense ratio. That means, if you make 7% in a given year, the fund takes 1% of the total, not 1% of the profit, so you only made 6%. They took 1/7 of your gains! A good expense ratio is less than 0.1%. There are plenty of low cost index funds out there. Don’t give away all your gains.

[Kraeten]

Bro out here completely taking every dollar away from Dave Ramsey with this one simple video.

[tanwar]

What a journey man. I started watching you in 2009. I was a 19 year old university student watching you try and do handstands and punch eagles. Now I’m 34 married with 2 kids nodding along to your excellent intro to the stock market 😂

[agathaarnott]

A couple month's back I saw your 20 dollar rule and put it into a 20 percent rule for me. Its been super helpful. Thank you. I was able to afford an unplanned vet visit when my cat got sick.

[ksweet]

I LOVE LOVE LOVE the fact you gave the answer right off the bat. So many Youtubers use a clickbait title and drone on and on with filler material before they give the answer til the very end. Thank you.

[tomrogue]

I opened a roth IRA like 3 years ago when i was 26. Biggest advantage i have is time. Just consistently putting money away and i believe ill be fine.

[DJKBrooklyn]

It would be great if you made a video about the reality of home ownership. The thought of buying a house is simoltanously exciting and frightening.

[HananOich]

I'm 32 years old and just starting to invest for the first time. I’ve been hearing mixed opinions, and I’m starting to wonder: does asset allocation even matter this early on? Especially with ETFs and index funds tracking the broad market, I've heard they can include underperforming stocks that might drag down overall returns. Am I overthinking this, or should I be more selective?

[andrewblawson]

But can you do it again in a one month challenge?

[mygodsnameiskyle]

I dated a girl that got me investing in some indexes. One of them was an index with a bunch of "defense fund" companies. Boeing, Lockheed, etc. Well... it was in the days when Kim Jong Un was shooting off rockets every other day. The stock went WAY up. I cashed out... and using my best Ralph Wiggum voice said "I'm a war profiteer!"

[electricant]

I already knew that! But it still took me 10 years to go from knowing it to actually investing…

[converseroo]

Thanks for the good advice. One for U.K. people doing this - you can invest in index funds via a stocks and shares ISA and then you don’t pay tax on the return - otherwise you may have to. You can also invest into index funds through your pension. This might be a good idea because a lot of U.K. pensions go into investments that don’t tend to grow as much, so this can cost you a lot of money over time

[HunterTalks]

You are 100% correct 🙏 I retired in my 40's following this exact mechanism and now live exclusively on Franked Dividends in low-cost countries. I never picked individual stocks myself (because I too am an Idiot 😀) and stuck to a handful of ETF's & LIC's And yes, build a 6-month Emergency Bucket first. Good advice and yours is the best video I have ever seen explaining this concept in a fun way 👍

[ottoihccus]

I had a dream last night that you lived in a large house with a long room of tomato bean bag chairs. It was weird. Keep up the awesome content and my dream may come true.

Also, choose funds with lower expense ratios to keep more of your moneys in the long run.

[ilyily]

Thank you for kindly and patiently explaining what stocks are and not shaming people for lack of knowledge 😭❤️ this was so helpful and encouraging

[TheFezzik]

Started investing in index funds at 12 with any money I made mowing lawns or babysitting. I retired at 45. It all works.

[Masterdebater-qc]

S&P 500, buy the entire market. Lookup VOO, set up a deposit to it biweekly or monthly, set it, forget it, check back in a decade

[aroth]

👏👏I really liked this video…..PLEASE MAKE MORE LIKE IT!!
I’ve always been ‘scared’ to invest i suppose because I feel intimidated by it all. This was great. 👍 I’m going to look into index funds