How To Manage Your Money Like The 1%

How to manage your monthly paycheck like the 1% using the 75 15 10 secret

TIMESTAMPS:
00:00 - Intro
00:20 - 75%
02:08 - 15%
04:30 - Opportunity cost
05:45 - 10%

MY FILMING GEAR:

DISCLAIMER:
This content, and the ideas presented in it, are for education and entertainment purposes only. Kiran does not provide tax or investment advice. The information presented does not consider the financial circumstances of any investor, and therefore may not be suitable for all investors.
Although Kiran is an Accountant, no Accountant-Client relationship is established with the viewer in any way.

As an Amazon Associate I earn from qualifying purchases. The product links in the description are affiliate links. This means if you choose to buy something through one of these links, I may receive a commission on the sale, but it makes no difference to you as a buyer.

[camelaMar]

Financial planning and retirement strategies are crucial, especially in today's economic climate. With global economic fluctuations and uncertainties, it's essential to have a solid plan in place to protect your financial future.

[herjenderlally]

Thank you, Kiran. You are a diamond for your advice. 😊

[mrbmro]

Your financial advisor but you haven't mentioned the best performing asset for the past 12 years? You haven't mentioned bitcoin. I think it's. Clear you haven't read the bitcoin standard. You can hold bitcoin and borrow off it and roll your debt. Why do you skip this best performing asset? Risk overse are we? If you don't know how to talk about the best performing asset and the most scarce asset with a fixed supply, I'm sorry, I think I have to doubt your expertise here. Shocking. Not one mention of bitcoin. Please read the bitcoin standard. It seems you are just echoing what everyone else says.

[manni]

I'm currently at 30% needs, 20% wants and 50% investments

[AlexMorgan-tinv]

The Part you mention 'conscious planning and effort' brings me back to a period in my life when i started to make effort to save $100 a week, did this for 18 years. It wasn’t easy, but staying persistent paid off, I've watched my savings grow to $4M through investing. To see my small steps turn into something significant has been incredibly fulfilling.

[RyanTaylorNaturalRemedies]

In a world where people aspire for health, wealth and happiness. This information is vitally important. Very well presented, simple and easy to understand. Well done. 💚

[alb]

All nice and good, but what if you don't get to enjoy the savings? My mum saved some money, then she died in two weeks at 53 . Never had the chance to enjoy it, while saving it...

[CallJustice]

No disrespect but the only reason I looked at your vlog because you are so very much beautiful.

[elijaprice]

I only clicked on the video because she's pretty, and now I've been taught about sensible planning and fiscal prudence. Those algorithms tracking me down as both a perv and financially reckless once again.

[robbieross]

Of course all sound advice but everyone’s circumstances are different and there is absolutely no point in living poor to die rich most especially when you haven’t dependents to leave your money to. Might sound strange particularly to a financial planner but I’m not that interested in doubling or trembling my wealth, the more money there is the more you worry about it and the more you lose out to the tax man especially under a socialist government! Best to pay off all debts including a mortgage and make sure your outgoings are slightly under your incomings. Keep it simple, be sensible but enjoy life and if you can afford it have a nice car, and nice clothes and a nice holidays etc, life is too short not to. Just one caveat, make sure you have enough squirrelled away for a care home if and when you should need to go into one, because well run and luxurious ones cost an absolute arm and a leg and you certainly don’t want to be in a state run one! Other than that I’m not living like a miser below my means to die rich.

[matthewthomas]

2000 a month and invest 300. So realistic and doable, i like that idea.

[luckyshaqqq]

One thing not mentioned is never to get married and outsource your heirs to Venezuela until they start making money themselves.

[Jeffybonbon]

My Jewish freinds have done this for genarations and they give to charity too

[balwindergill]

75% bills 15% invest 10% rainy day and wait 40 years if you make it to enjoy life not sure

[PD_incredible]

Kiran, Really amazing video. Please help me and thousands of other people of saving Corporation tax. Really fed-up with HMRC.

[DS-cfzc]

Agree with this approach - versus what many seem to believe is the way to have a comfortable life.

Something that I encourage people to do - once your savings reach a certain level that covers emergencies - save up another chunk - and once a year decant it off your mortgage, but instead of making your monthly payment smaller - make the term smaller - this means you keep paying the same amount you are used to but, you now have less interest to pay on the overall loan. You also still have your emergency fund, and you are also not overpaying monthly, so still can hold the lump you are saving each year - and if you have a crisis just slow down the one off payment.

I paid my mortgage off in less than fifteen years using this theory - but I did forgo expensive holidays, nights out, and eating out during the period of time - I also got promoted into better paying jobs, and increased my educational elements too.

Anyone can do it... You just have to start.

[runabath]

How much money do you need to retire 400 gggs be enough 😅

[AnthonyJP]

Please can you do a video on how we can start investing the 15% each month.

[AJohnson]

70-75% of income to investments. The rest is for needs and wants. That’s how the smart 1% do it. There’s no way I would only invest 15%.

[mrbmro]

What your really talking about here is maintaining wealth, which is more or less diversification. If you want to gain wealth you need a concentrated portfolio. S n p are for maintaining wealth. Housing Carries too much risk with little return ATM. Why are you avoiding the elephant in the room which is the best performing asset by far and I mean far for the last 10 years which is bitcoin. I mean at least have an I formed opinion on it. All this playing it safe is NOT going to make anyone wealthy. If you wanna help, help and my advice is you start with the best performing asset, which is bitcoin.