3 Signs You Are WAY Above Average (Scary Money Stats)

3 Signs You Are WAY Above Average (Scary Money Stats)

🔥 MORE FROM AZUL:

💲 NEED FINANCIAL ADVICE? 💲
1) Google "fee-only financial adviser" or visit www.NAPFA.org (the largest association of fee-only financial advisers). NOT an affiliate link
2) The first question to ask any financial adviser is, "Are you a fiduciary to me 100% of the time". Get the answer in writing
3) Please note that some people call themselves "fee-based". This is NOT the same as fee-only. Fee-only advisers have committed to being fiduciary to you 100% of the time.
4) Personally, I would only hire an adviser who is a fiduciary to me 100% of the time. This is not a suggestion on what you should do. Just sharing my personal preference.

⚠️ Azul's "Scammer" Warning ➡ PLEASE READ! ⚠️
Be careful of scammers. In the comments section, I will NEVER ask you to contact me, offer any investment products, recommend a stock broker, or anything similar. Some scam bot commenters 'ask' for investment help, and later, other comment bots reply with "how great X idea/investment/person is" in the replies. These are scam threads. Do not fall for them.

🚨 MY VIDEOS ARE NOT FINANCIAL ADVICE (Disclaimer) 🚨

The decisions on how to invest, when to retire, and other financial planning topics are some of the most important financial decisions you will make in your life. I urge you to seek professional financial advice as you make this decision, ideally from a financial adviser, AND a CPA AND an attorney. Having the perspective of all three professions will help you make the right decision for you and your family.

This information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and may NOT be suitable for all investors.

This information is NOT intended to, and should NOT, form a primary basis for any investment decision that you may make. Always consult your own legal, tax, and/or investment advisor before making any investment/tax/estate/financial planning considerations or decisions.

Spoiler Alert: There are no "get rich" programs. Rather, just basic blocking & tackling and putting in time and care. Do your homework, choose wisely, and (IMHO) work with experienced professionals who are fiduciary to you 100% of the time.

[tatianastarcic]

The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.

[davidhughes]

“Buy the cheapest car your ego can afford”. Best advice I ever heard. Cars are the greatest destroyer of personal wealth.

[tonysilke]

Creating wealth entails establishing positive routines, such as consistently setting aside funds at regular intervals for sound investments. Financial management is a vital subject that many avoid, often leading to future regrets.

[steelheadstalker]

Wealth is not defined by how much one has but how little one needs.

[jaymcgovern]

Azul, Your empathy is admirable. It’s important to communicate this important information without judgment. You are a master! Jay

[Richardcarlett]

I'm a single, 43-year-old father who resides in Hamburg. If everything continues to go well for me, I intend to retire at age 50. I couldn't be happier right now than I am that I just bought my first house last month. I'm so happy that I made wise choices that altered my life forever.

[clays]

Thank you for this post. I’m 61… saved all my life, built retirement, saved for emergency.
Worry because with inflation… everything is so darn expensive

[joniangelsrreal]

Early marriage in ‘77 hubby took 1/4 of income to invest/save… I hated every minute of it then … retired early 50’s today our home is paid off we drive a new car paid cash … happy we made the sacrifice early..

[stephencullum]

I have been retired for the last 7 years. The best thing you can do is retire debt free which includes a paid off home. With no debt it takes a lot less money to live. During your working years be modest in your home, drive cars until the doors fall off, avoid the toys others are spending money on. Put the money you save into investments. Don't be too aggressive or conservative in your investments. Watch investment cost. They can steal a majority of your returns long term and hey you are putting your capital at risk, not the agent you invest through. You have two money enemies in retirement. Inflation and sequence of returns. You need to beat inflation but also have a pool of safe money to get you through times when markets are down. So you are not forced to sell in down markets. Be flexible, spend less when markets are down and a bit more when they are up. And do go for experiences more than things. Memories last while things do not.

[susannnico]

The greater the automated income you can build, the freer you will become. Taking the first step is the hardest, but 5 houses later living off automated income since July 6, 2016. You’ve got to start taking steps to achieve your goal.

[rntt]

Debt free for a year and a half now. I own two 20-30 year old vehicles. My house is 145 years old, and I paid cash for it. Fixing it up! It's no mansion but it's PAID FOR and it's a roof over my head. This much time since I've been out of debt and there isn't a thing in this world that could get me to sign on the dotted line again. It really does change you! I look like a poor guy from the outside, but I'm rolling in it.

[adrianred]

It all depends if you are playing the "wealth game" or the "status game"

[gjd]

Starting early in your career is vital. Married later than most. Watched my spending on routine expenses. While single I had roommates to share the rent or rented very basic apartments on my own. Drove my first car for 117, 000 miles. Saved & invested starting at age 25. Still had money for ski trips, beaches, etc. Now mid-60s with net worth of $4M. It can be done, but start early.

[robtam]

Wow! What an eye opener. Thinking I wasn’t ready to retire. I just turned 60. I have a current military pension. Working and nearing retirement on my second career that also has a pension. And I put nearly 30k a year in savings and retirement; including maxing 401k. Planning to retire and draw SSI around 65. Single and plan to live in an RV and travel until I cannot. I do not currently carry any debt. I owe nothing.

[WallaceDunn]

Holy cow, those are very disturbing numbers. I retired from the military 25 years ago and always planned that my military pension + SSA would be my retirement. I realized around age 50 I really needed to get serious about savings. Those numbers make me feel a lot better about where we are today.

[ernstpeischl]

I'm very happy to have stumbled onto your channel at age 61. I feel so much better at my situation and how my early sacrifices were the correct thing to do. Please consider creating a semester course for high school students. The kids could teach their parents a thing or two.

[frankcicero]

My Aunt used to say " when you have bread, you have everything " it's quite simple but yet it's very profound . if you look at pictures from the 40s 50s and even into the sixties you'll see families with a small homes most of them just one floor because they didn't need anything bigger, and but society said you need big so you should build big and pay big. If you're not doing well in the money department pray more worry less

[Quixote]

My Dad taught me to play with a compound interest calculator when I was 18. I have used it every year to keep me focused on investing. At 54 I have $620, 000 in my 401K and Vanguard Index Funds. I have an average salary but have always been focused on not getting into debt and not waisting money but instead investing it. I currently drive a Honda CRV with 300, 000 miles on it to avoid a car payment. It looks like it's falling apart but still drives good. My co-workers all must hink I have no money. LOL I hope to retire at around 62 with about 1.3 million set aside and house paid off.

[jacobmar]

I wish my parents taught me better about money, luckily a couple month into my first job i was like "i had to work two hours to go out and eat a $25 meal at a restaurant" thinking that way put things into perspective.

[jasonandrus]

Just found this channel and this info is staggering. It's hard to believe so many people have absolutely no plan for retirement but then again I realize most families don't push planning nor is it taught in schools.

I am 42 and was fortunate to have a day show me the importance of saving and have been contributing heavily to 401k since 19yrs old and blessed with a wife that is always watching what comes in and goes out. I have been blessed to max my 401k out much of the past 15+ yrs and we have a healthy we all have to plan for our retirement because the government dosen't want to see us retire or be able to enjoy it.