Why High Paid Americans Are Actually BROKE!

Let’s make sure you’re on the path to financial success - then help you stay there!
The Money Guy Show takes the edge off of personal finance. We’re financial advisors that believe anyone can be wealthy! First, LEARN smart financial principles. Next, APPLY those principles! Then watch your finances GROW!

We can’t wait to see you accomplish your goals and reach financial freedom! New shows every week on YouTube and your favorite podcast app. Thanks for coming along on the journey with us.

[TruckeeFam]

Even though my wife's grandfather didn't earn much, he retired with over a million dollars. He saved $75 from every paycheck for 45 years and was cautious with his money. If he had invested in mutual funds, he could have been worth several million. It's not about how much you make, but how you manage your income.

[PInkW]

I’m a high school drop out
I’ve never done drugs
I have zero debt
I have $30k in the bank
My home is paid
I ride bicycles long distance
I have a beard and a backpack.
I get mistaken for homeless
A LOT

[marietaylor]

Anyone who earns a six figure salary and cannot come up with $400 has a bigger issue than finance problems.

[freedomworks]

I've been completely out of debt for several years now and I can't express how easy life becomes when you have no bills ... been saving up lots of cash now. Its wonderful

[EmilyLucille]

So I was the “can’t come up with $400, have credit card balance of $2, 500+, living paycheck to paycheck” person. Started listening to Dave Ramsey a little over a year ago and already have a positive net worth for the first time since starting my adult working life.

[jadyphan]

I drive a 1997 Lexus ES300 and it gets me from point A to point B. I am a doctor making $210K and nobody knows that. I prefer to keep it that way.

[walkerb]

I became a millionaire at 40. A decamillionaire at 50. How? I never deviated from living like I did when I had only $1, 000 to my name when I was 22. “Lifestyle creep” will get you every time if you let it.

[Thompson]

It's endemic, it really is. I make about 60k a year-and I live in a small 1000 square ft apartment that costs about $1100 a month. I've had several guests who visit and critique my "crappy apartment". Almost 95% of these people, when I speak to them, turn out to have absurd debt and/or money problems. Funny thing is I would've gotten an even smaller place if I didn't have my dog. XD So many people paying for stupid things.

[DrDRE]

The 3 things that trip Americans up: Cars, Clothes, and Eating Out. Conquer these and you'll have more money.

[AbbyC]

If the class system was based on "net worth" instead of income, fewer people would be considered middle class.

[rinck]

Advertising has us chasing cars and clothes,  working jobs we hate so we can buy (stuff) we don't need.

-Tyler Durden

[librisc]

i drive a 21-year-old Buick Park Avenue and could buy just about any car i want. I live in a modest house i have debt-free properties that afford me to be retired and not work but i choose to. i am in my late 40s and am an immigrant from Eastern Europe. i have and see friends that drive $50k, $60k trucks and vehicles with 500, 600 or more car payments and are absolutely consumed to keeping up with the Joneses. No one knows except my family and brothers what i'm worth. i like it like that.

[oquinn]

I’ve work in the mortgage business for 20 years, NO ONE invest the difference in the payments! They spend it.

[mariacullati]

My neighbors complain about my old car - somehow it triggers an insecurity in them....I was a nurse for 35 years and health is wealth. I continue to live below my means and follow my own rules. Don't borrow and don't lend...just give when you can.

[Foellarbear]

31 years old and hit a net worth of $200, 000 this year. How? Stay the course and be consistent. Don't compare yourself with what others are doing. Having "things" means nothing. Invest in yourself. Happiness and wealth will follow.

[BrianGivensYtube]

As a manufacturing engineer, one of the first things you learn in school is that transportation does not add value to the product. One could apply this to commuting to work. It takes time and money just to get to work. The best thing you can do is work remote, reduce the time, or reduce the cost of the car. It BAFFLES me that people go for luxury cars and huge trucks just to commute when it does nothing for you. Driving a beater versus a supercar does not change the fact that you get where your going at the same speed limit.

I got a used car that will last me 10-15 years and next to where I park I see trucks, Cadillac's, and sports cars. I look online and these cars run $700-1200 a month and you know they don't have great credit scores so that's a higher interest rate right there! Throw in eating out, clothes, jewelry, expensive vacations, a lack of investing, and they will not retire before 80!

Keeping up with the Jones' gone wild.

[ramseyabsessien]

A lot of people do not really know that their net worth is in the negative.

[MeowmyandMe]

Paid off my mortgage early - in my 30s - and don’t regret it for a second. There is something very freeing about owning a $500k asset free and clear. If my income went away tomorrow I could work at Starbucks and afford this. I sleep better knowing I have options. I started investing at the same time, just a tiny bit at first and eventually moving into maxing out land. As a result I have a six-figure portfolio as well. Yes it could be more if I didn’t pre-pay the mortgage but this is the balance that helps me sleep best at night

[gingerkilkus]

Instead of trying to predict whether or not we’re going into more recession and keep losing your money, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every quarter according to Bloomberg.

[theshow]

I'm a minimalist and 20 years old so I invest in myself and try to save money. So when I do lose my job I can be prepared for that. Americans need better money habits. Great Vid Guys!!!