Комментарии:
Frugality is a good concept unless taken to the extreme.
ОтветитьThanks for the valuable info
ОтветитьI wear the same jeans every day because no one knows it because all the pants look the same this is just one way to save money thank you tae kwon do .
ОтветитьI am aware that continuing to invest during periods of volatility can be a smart way to build wealth. I’ve heard testimonies of people accruing over $250k this red period. What measures can I take to ensure this?
Ответитьthat thing about warren buffett is a well done pr myth. Does he own the same house? yes. Does he live in it? no. Does he own multiple other houses? yes. Same with his car choice etc.
ОтветитьI have a tiny little orchid plant in a tiny pot that I paid $8 for 7 years ago. It starts blooming around March 1st every year. It makes me just as happy as a greenhouse full of them.
ОтветитьWhen my husband and I got transferred to his new work location, he decided to have an average 1715 square ft, 3/2 house built. My dad, on hearing that we were having a house built, remarked, "Why don't you build something interesting?" My husband and I both knew that "interesting" would mean much more expensive and we stuck to our reasonable plan. As a result, we had it paid off in 11 years. We were very happy about this.
ОтветитьJust not caring what other people think of your appearance (while being clean and dressed enough to keep your job) will go a long way for you on your frugal journey. Almost nothing feels as good as being debt free.
ОтветитьDon’t forget when you have money every loser wants to “borrow” money from you but when you want it back then try getting it.
ОтветитьVf 😮😢fx
ОтветитьLOVE IT
ОтветитьThe real problem is when you try to live simple life, but the cost of renting and basic food can easily get up to 10K a month in Israel. It's impossible living here.
My dream is to build a tiny home and live farm life somewhere in Canada or any other place I can live peacfuly, never been attracted to luxury..
Love it.
ОтветитьI think the representation of tax rates and tax brackets is a little misleading in this video… even if you’re in the 24% tax bracket doesn’t mean that your effective tax rate (the actual amount you pay) is that high.
That lowered expectations point was really good though.
Super helpful and solid. Thanks, Tae. Awesome perspective.
ОтветитьTai, as always, I loved this one. I love your unique take on things and this one has a lot of heart.
ОтветитьLiving the way you want is true wealth. I appreciate that line. Doing what I want, not buying what I want, is where freedom really sets in.
ОтветитьBut what is the point of amassing all that wealth to never spend it to make your life more enjoyable? Dying with lots of money after living frugally is silly
ОтветитьBut you fail to mention that Warren Buffet has restructured the home and it is now huge and has high tech security.
Please state the full facts.
thank you for this amazing video!!
ОтветитьOne of my personal finance rules is, "Don't let people smell your money." If you project to the world that you're rolling in cash, people in your life will often subconsciously consider themselves entitled to a cut of it, causing lots of drama. Don't be stingy and cheap, but do exercise restraint. I like to invest in high-quality clothing, shoes, handbags, and travel gear – but instead of splurging on flashy designer items with gaudy logos, I buy extremely durable and domestically-manufactured basic items that will last for decades, if not lifetimes. Dressing well but modestly means I'm not a target for pickpockets or even nosy relatives. Instead, I can dump my extra cash into retirement funds and a 529 for my niece.
ОтветитьI get what you're saying about the Buffet house, but that home has been sold a few times since he owned it. Last time was about a year ago. And it was listed for 500k. I use to work at a building he lived and worked out of. So a short distance away he was using the entire top floor in a high rise building. I'm sure he owns many homes and condos all over the world.
Homes are a great investment as well. Homes in Omaha have tripled on value in 20 years. You could have been strapped on payments, but the economy is good here and you'll always find a job. Those 400k homes in that area and all over Omaha are all worth over a million now. My boss made over a million when he sold his.
It’s important to be frugal. It’s also important to buy things you want and treat yourself. I love cars, watches, colognes and whiskey. I work hard, I invest and safe, then I reward myself. Balance!
ОтветитьWe’re doing what we can. Just getting debt free was an awesome life goal. It took my wife and I about 3 1/2 years living on a cheap sailboat and then a travel trailer where rents were $260 & $500 a month respectively. The extra saved from the $1900 a month and extra money all went to debt. Debt free attitude took a lot of pressure off our retirement fund needs as well. We’re still working it into as large as possible but those years reset what is really important in life and what you actually “need” to be happy and material things rank very low in the scheme of things. Happy life all!
ОтветитьBe over indulgent with things that bring you happiness and ruthlessly frugal with things that do not.
ОтветитьI don't get the point about taxes. It's always better to make more income even if a greater percent of the additional money is taxed. If you make 100k more and you get taxed 30% on that, you're still netting 70k more. Seems silly to prefer earning less bc the government will also get more in taxes. It's cutting off your nose to spite your face.
ОтветитьNice to see that I am not the crazy one ;)
ОтветитьThis is just not realistic and disconnected form the average Joe in the world. You can still enjoy your time and have fun with balance. Frugal wealth is not balance and realistic
ОтветитьWomen is #1 in keeping you poor. Avoid dating and marriage.
Ответитьhaving an understanding of your spending sure, but being a billionaire and living in a shitty house how is that aspirational. If i have wealth i will invest but also enjoy my life, you cant enjoy your life when your dead
ОтветитьDude, you don't seem to understand how the progressive tax system works. You don't actually pay a quarter of your income if you are in the 24% bracket. You only pay 24% on the amount that's over the previous bracket's maximum. And you don't pay any tax on the first $10K you make. So in the end you don't actually pay a quarter of your income in taxes.
ОтветитьThe best feeling in the world is knowing you have much money, but no one knows about this and therefore you live in ultimate peace. The only part about us that desires others’ attention is the ego, and this part of us brings us the most unhappiness. Once you reach a certain maturity level, this video resonates.
ОтветитьAnd just like Forest my life has been plagued w Jennie’s.
ОтветитьYou can buy smart clothes used on eBay, and used nice cars. Living well sensibly.
ОтветитьI'm good with all of this but I want to travel and have vacations!
ОтветитьWarren had a 5.5 million dollar beach house also nobody talks about that 🤔
ОтветитьPractice making more money... so you can spend more.. to support the velocity of money.
ОтветитьSimplicity and minimalism really enrich our mind. Real freedom without decision fatigue comes with it too.
ОтветитьThe Millionaire Next Door is a great resource book on this topic. RIP Thomas Stanley.
ОтветитьWell said. Im becoming wealthy to have full autonomous control over my time and where I live. What yours?
ОтветитьDon’t let the tax tail wag the income dog. Your second point (less money means less taxes) is terrible. You totally oversimplified taxes, and failed to remind people of how the progressive tax system works. Just because you’re in the 37% tax bracket doesn’t mean you pay 37% of your income in taxes. If you’re single, living in Orlando you have to make well over $5,000,000 annually before your effective Federal tax rate is at 37%.
Ответитьsolid advice. Thank you
ОтветитьI agree about frugality, but you fundamentally misunderstand tax brackets. If you're in the top tax bracket, only your income in that top bracket is taxed at 36%. For the income in the next brackets, it's a lower and lower rate, the same that people whose total income is in the lower brackets pay. So, of course this varies, but if you are in the top bracket, your effective tax rate is more like 25% than 38%. That's to say nothing of business and real estate owners, who have so many loopholes the typical billionaire's effective tax rate can frequently be $0 (like Trump.)
ОтветитьI completely agree with whatever you said. me and wife, till 2021 we had to cut down our expenses due to covid and her uni tuition fees. But when she got a job in 2021, our lives changed. and so did our expenses. After six months I noticed we have started spending on items which we never needed or never though of before. We have cut down those expenses and are back to our simple life style. your videos assert my belief in that.
ОтветитьProduce MORE than you CONSUME. Easy, money.
ОтветитьHow should I deal with my and my wife relatives who being less successful in life are always trying to make their problems = my problems? They always need help which requires time and money. Mostly time, but it is time taken from my education, self improvement and quality life
ОтветитьLol in Australia you pay 38% tax at $80,000. Almost half our income is taxed
ОтветитьI don't know why, but I cried a little watching this. This was very touching!
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