Everyone's journey is different. As simple as that
Save after you learned to spend is very important statement.no one teaches about spending.. they only teach about how to save.. spending is an important part when we talk about money. Its so empty when you made the money and then don't know to spend same goes to living a life..
You are the first person who’s telling the truth, most of the influencers do the same but advice their followers to save and invest.
The most practical and honest answer that ever came out of this channel.
It seems like no matter what you do, you will always feel like you missed out on the decision you have not made. The one who spends regrets not to have saved, the one who saved regrets not to have spend it when they were young.
Moral: spend and invest both .
I graduated in 94. Spent my late teens early 20s in night clubs, spring breaks in South Padre, camping, fishing, bbqing, get togethers with friends, house parties, concerts , nights in front of the couch watching a movie with my girlfriend, play off games at the sports bar, hunting, getaways to cities. I didn't need a lot of money and worked very little then. Many of my classmates were working day after for cars, fancy apartments, trophy girlfriend, fancy clothes, etc..while I worked a part time job had a shabby but cheap apartment and from a long bed single cab Ford ranger. I enjoyed my life with very little money at a young age not stuck in jobs working for material nonsense. I had many girlfriends and was not stuck married at a young age raising a family changing diapers and dealing with a wife. I settled down at 36 had a family and bought a home that now I own and no consumer debt or car payments. Life is great at 49 years old sitting on the porch drinking coffee in the morning and a cold beer in the evening. Life was the best without smartphones and Internet people were more focused on themselves not on others lives.
Its a valuable advice for some people. I have been saving when i was getting very little and in the process left so much of enjoyment and experience. we shouldnt take life too seriously that we stop living.
I gave my first paycheck to my father. I saved for him for a rainy day. That made me happy. And made him feel safe with less stress. Thats invaluable
I think what he meant here was to spend your money WISELY. As you're younger, have fun and also save. Obviously poor wording but yeah.
Very true! I am 26. I have almost enjoyed everything except foreign trips and such stuff. I have understood this stuff in this span of time after spending much. True only❤❤
Love the philosophy of this man in this era where every person talks about savings from an early age,but in a long term from an early age of savings people very oftenly get burnout due to constantly limiting themselves from enjoying life.. May all of you enjoy and invest in your life wisely
There should be a balance between saving and spending. If you save a lot, you'll regret your life. If you spend a lot, you'll suffer in old age. So keep a balance. I have a rule where I should spend 5% of my net worth every year in things and experiences assuming that I'm adding at least 20% to 25% to my net worth every year and it grows at a rate of 10%.
When I first read The Secret Doctrine of Wealth, I realized how stuck I was in the system. It’s crazy how much it changed my perspective.
I always wanted to try trading on My own, so I Finally gave it a shot Even though the price Swings had me totally <>Confused. I watched Tons of YouTube videos, but it was still hard to Make sense of everything, and I Ended up losing Most of My trades.
23 years old, 100k invested. In my opinion, it is better to save now and enjoy later. But every journey is different, there is no right or wrong answer around this
Depends on your income generation capacity. I believe thats what made him comment like that. It is futile to be unprepared for emergency. Thats why financial literacy and money management skills is so vital. My father spent lavishly and when time was against him, he literally went bankrupt and put the entire family in trouble. Today I plan and live a life completely opposite to that of my father and it is so bitter and painful as its completely different from the life of luxuries and carefree attitude. Had we stuck to our limits maybe we wouldn't have faced such financial ruins and life right now wouldn't have felt bitter. Its so much of a stress and lack of peace to try and build again to live such a lifestyle of luxuries.
Finally found some financial advisor with brain
Great ! It's a wiser angle/perspective of looking at spending/saving money when young. However, viewers(of all age) should not misconstrue this message into believing that they can spend however, erratically..I believe this is an important catch. Rest, the message conveyed in the video is very wise and positive !!
@WintWealthYT