ACCOUNTANT EXPLAINS: Signs You're Doing Well Financially (Even if it doesn’t feel like it)

In this video, I talk about the key signs that will indicate whether you're doing well financially, even if it doesn't feel like it.

Shout out to @DamienTalksMoney for the inspiration! behind this video!

Enjoy Xx

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DISCLAIMERS & DISCLOSURES ❤

This content is for educational and entertainment purposes only. Nischa does not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.

This description contains affiliate links that allow you to find the items mentioned in this video and support the channel at no cost to you. Thank you for your support!

00:00 - Introduction
00:23 - Are you playing the right game?
02:19 - How much should you be earning?
04:16 - The 3 fundamentals to get right
06:17 The lens of society vs the individual

[danrice]

Let’s be honest, if you’re watching this video, you probably take your finances more seriously than most and are probably doing a good job

[Ray.J]

If you never worry about where your next meal is coming from, you are richer than many in this world. Be thankful for that!

[mikek]

I have one years pay for "emergency" funds. Absolute zero debt. Approximately $1.1M for retirement. I feel pretty comfortable where I'm at financially. And I'm just a lowly factory worker. If i can do this, anyone can! It's called living well within your means.

[mrtommy]

I paid off my house last month and went completely DEBT FREE

[lagatha]

Many of my friends make more money than me but living within my means has been the key. I can sleep at night knowing everything I have, I own, and can afford.

[xlerb]

I've made my share of mistakes but I'm doing pretty well these days. I could live for about a year on my emergency fund, and I've been debt free for few years. It wasn't easy, especially when friends are buying fancy toys and you're sticking that money into investments instead. But it's been worth it. If I'd started at 25 instead of 35 it would have been easier but you can't change what you did 10 years ago, you can only change what you're doing today :).

[VoiceOfReason]

I think a balance between saving and enjoying life is important. Life isn't much fun if you wait until retirement to enjoy life. Set a target retirement savings amount, figure out how much you need to invest each month to hit that target at the age you plan to retire, set aside enough emergency funds to cover 6 months of expenses, and always pay off your credit cards each month if you must use them. After that, spend the rest of your disposable income to enjoy life. I had a friend who counted his pennies to build up substantial savings, retired at 65, and before he could enjoy his wealth for very long, he died.

[brg]

As I've gotten older I need less. Far less and I've never cared for what people think of me, so I've never even tried to compare myself to others. I'm happy with what I have and fully understand that I cannot take any of "it" with me when I'm dead. For me, it's all about having the quality in life. I've taken lots of risks and most of them failed, but it was a learning experience. It what makes me, me and I wouldn't have it any other way. Accept and enjoy what you have instead of regretting what you don't have and you'll be in a happier place. Whatever your choices in life, treat people with respect, be happy and be kind.

[soapa]

If people want to stop "feeling behind" then they need to stop placing themselves in the line. Once they come to that realization, life is more enjoyable when you know you're on your own path.

[drew_peabawlz]

Grabbed a hold of my finance around March this year managed to pay off around 25k debt (Loan(S), Final Car payment and a credit card ) so far in 5-6 months and I honestly say its such a great feeling knowing its been put to bed and now on track to have 3 months emergency fund by the end of the year.

[cameronbajt]

Financial wellness is extremely important, but I do think we over-emphasize its importance in some cases. Are you physically healthy? Psychologically healthy? Do you have good relationships? Do you you find satisfaction and value in how you spend your time? Do you have goals, aspirations and ambition to grow intellectually and or culturally? So many way we can focus our energy, so for me finding balance is the real million dollar recipe.

[Aengel]

I’ve been following your videos for months now and with professional help, I’m making outstanding progress with my money decisions. Thank you nischa.

[maxscriptguru]

I feel that It is not the things you have in life, but the things you do in life, that brings worth. I learned how to play the piano in my early 20’s. I felt like I had won the lottery. And 25 years later, playing Chopin, for instance, still brings great joy. You cannot buy the ability to play the piano. You have to practice, which is a trade off of time, not money.

[matty]

This is a great video. My wife and I sometimes get stuck in this rut and it always happens when we compare ourselves to friends. I keep reminding her (and myself) that when you look at friends, you don't see the entire story. You just see what they put in front of your face. Yes, I can go out and buy a fancy car, house, cloths or whatever. But you can't see things like what they have saved up for emergencies, retirement funds, credit card debt, college funds for the kids, investments etc... If I sold all my rentals, stopped putting money in my 401K, stopped saving, stopped investing, etc. - I would be able to get a lot fancier stuff and look richer in that moment. But anyone watching this channel knows - that's not what makes long term wealth.

[setharkin]

I can't believe you referenced "The Millionaire Next Door." My Dad sent me that, I implemented it, lent it to a friend, and never saw him or the book again.

[zacharyford]

I love how you speak about letting go of other’s expectations of yourself. It’s very liberating. Remember success is a mindset !

[dapperAaron]

Thank you i needed to hear this, I'm 29 living by myself in LA, I have 0 debt, 2 cars paid off, good credit, good amount in my savings account, both bank accounts, investing account and in my 401k account but somehow I don't feel wealthy, I'm not into luxury items or materialistic things like others around me but i now realize that is somewhat why i feel that way. Thank you for making me realize I am in a better position than how i feel 🙏 keep putting out great content

[mariel]

All my life I’ve been feeling insecure about finances and not able to understand them properly but thanks to you I feel empowered woman and relieved knowing that it’s not too late to learn and to apply all this knowledge to my daily life. I’m having an enormous progress on my finances, I feel in peace with myself doing the what feels better for my economy & mi goals and I’m more focus on what really matters. Thank you so much, I’ll be forever grateful ❤

[por]

I am an international student in Canada. Started building my credit a year ago and currently I have a credit score of 740. I live within my means and saved for my yearly living expenses through my 4 month summer internship. It feels really good that I will be graduating from my MBA debt free. Understanding and managing your finances really helps.

[xpscsuc]

Financial life is more comfortable and safer when you have good risk management skills, if you invest. you can make a ton of money no matter where you find yourself..