Link to my original video:
Today, I revisit an older video of mine and explain again why investing isn’t the get rich quick scheme it’s often advertised as being.
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DISCLAIMER: This channel is for education purposes only and does not constitute financial advice – Richard is not responsible for investment actions taken by viewers. Please seek out a registered advisor if you require assistance (while Richard is a registered portfolio manager at WDS Investment Management, he does not provide advice through The Plain Bagel, which is not affiliated with his employer).
Hey everyone! Many of you pointed out that between a max capital tax rate of 20% in the US (I wasn't aware of this, eh?) and taxing the returns every year, my tax estimate was a little high in my example, so I wanted to include the numbers if you EXCLUDE tax (AKA if you could achieve a real return of 7.84%). This is quite possible thanks to certain tax-free accounts, and while it gets a little unrealistic when you increase your contribution rate to $20,000 a year, this will at least provide the optimistic end of the example for comparison:
– Years to hit $1M from $10K: 61.0
– Years to hit $1M from $10K + $3K a year: 40.7
– Years to hit $1M from $10K + $20K a year: 20.6
– Real return needed to go from $10K + $3K a year to $1M in 10 years: 54.5%
Bro, thank you again man, all these assholes online, even my friends they read that book intelligent investor, and ummm what’s the other one…. Rich dad , poor dad, and now these assholes think they’re a Wall Street hot shot! I’m like bro, what’s you make?!? 422$ oh wow man, you’re rich now! Oh wait that 422$ gets interests too, oh wow!!! They make it seem like they’re getting paid that daily from some “easy invests bets” I’m like that shit seems to good to be true…..
self reporting from wealthy households is not super useful. They consistently discount the importance of things like inheritance. Its just how psychology works.
Yeah after watching this I'm still poor so no like for you
I'm joking. Great video and wonderfully and truthfully explained. Thanks!
5,4% looks good to me, I don't know why people expect "magical" return and easy money.
Hello,friend my english is nt good but i ll try to explain my thoughts.Investing,trading is totaly scam ,gambling.99%people lost their money in crypto,forex,binary,stocks.True money come with hard effort.Look those rich people not of them got rich with only investin or passive income neighter only in evernight.
Some of the best advice I ever got was "The key to having more money isn't making more, it's spending less."
Two good strategies are: investing in the strongest companies when they’re down (Apple, Amazon, Microsoft, ect) and a good example is six flags during coronavirus, had you bought the crash you would be up roughly 100% today,
Other strat: research the rule of 72, if you really care enough to be rich, you will take a few minutes to learn, otherwise you don’t deserve to be rich
Yolo tesla 69
altought your backstage seens fake, your message is real, like, a lot. Believing in your teachings from Brazil.
Well, I'm highly disappointed with this video. Gone to look for the next scum to put my money in and to become a multimillionaire LOL.
Investing is competitive gambling.
How high a quality of quants can you pay?
How many powerful friends do you have?
How many tax havens do you have?
Understand what this ancient saying means, "Who sings the songs of the men drowned?"
I bought Ricky Guiterrez's financial guide, and I went from being a minimum wage part-time worker to a millionaire in only 2 years by day trading. My starting fund was $100.
If I can do it, so can you. I'm selling a guide for only $5 on how to purchase Ricky's guide
– which by using the kink in my bio, you'll get a discount on Ricky's guide and I get a bonus!
Guys if you don't do this, you are so stupid.
If the scam artists on YouTube could really make money the way they claim, they wouldn’t need anyone else’s money and they wouldn’t be telling anyone else how to invest.
Excellent video, something I've been saying for some time now, just not as well articulated as you 🙂
Absolutely right. Investing will only enable you to maintain your current lifestyle, even during your retirement (which is say 30 years from now). You would be lucky if your investment keeps pace with the inflation. You aren’t going to change your social standing in the society via investing. What I mean is – If you were middle class while investing for your retirement, you will still be middle class even after you retire. If you try to act rich during your retirement, the corpus that you painstakingly built over the years, is going to evaporate very soon and you will go from middle class to being poor.
Assuming UK you get a 7.4% put 10k into an ISA (tax free account) takes 63 years. Then at 250 per month it would take 42 years. Then at 500 per month it would take 34 years. Then at 750 per month it would take 30 years. Then at 1000 per month it would take 26 years.
In your portfolio, you need both litecoin and bitcoin. Litecoin (LTC) is not a security, it is a digital precious metal, a digital commodity which cannot be debased, censured, seized, frozen, or confiscated. LTC is a decentralized digital payment medium and a store of value without intermediaries such as banks. Litecoin (LTC) complements bitcoin, like silver complemented gold under bimetalic monetary system, but litecoin has its advantages which bitcoin doesn't possess. Rarity of litecoin means that there will be only 84 million litecoins in existance. As the second oldest coin on the market, litecoin from its inception in 2011 was designed to be the "digital silver" to bitcoin the "digital gold".kjp
Yeah, someone will win the lottery sooner or later but your odds of winning the jackpot there aren't that different from striking it rich overnight by investing 😉 I've always been a long term "buy and hold" investor but once in awhile I'll put a little money on a dark horse, just for fun. I think the best one I did was Abecrombe & Fitch many years ago where got in at $9 and got out a few weeks later at $20. But that was one of very few winners in a sea of mediocre returns or downright losses. I doubt I've even met the market rate of return with my fun money investments. Thus I remain a boring buy & hold investor.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family
most common way that people have become financially independent is through private equity, according to Iranian-Swedish economist Tino Sanandaji.
What if you have a million dollars and want to end up with $10,000 dollars. How much do you need to spend a year if you are going to live another 20 years?
I've always said " you won't get rich spending all your money". Internet advisors, barkers, gurus, scammers, salesmen and promoters are all cheats, liars, charlatans, snake oil salesmen looking for gullible sheep to send them money. Unfortunately there are a lot of suckers out there making them rich. Why would someone with a fool proof system of beating the market or flipping houses or playing middle man need to sell it? Wouldn't they just use it themselves to make a billion dollars? No need to produce and pay for ads on YT. "Come on man"
I'm out there! 😂
I'm a complete noob in investing and if someone could explain to me how. When I put 1000$ into Nvidia and the stock crashes wouldnt this completely screw my returns? And if I it instead reach new heights wouldn't that mean that I would get more return? So how is it such a fixed return rate of 11% if stock prices can change so drastically. If someone could explain this to me it would be great I'm new, a glue eater and just watching videos about investing and economics in general.
Best financial video.
People line the hype.
The slow steady consistently investing is the way to go.
I really like your u tube. I will subscribe.
we got an ad in the back of the girly magazine that actually says get rich quick
Poor or rich in investing depends on what you invest in. Stocks, real estate, fine art fractional shares all appreciate while buying stuff depreciates. Not being a big spender can mean you would not be only depending on some job for your only income. Good or bad times, people will always need to eat, drink, piss, shit, wipe, clean, use energy, buy telecom services, insurance, financials, car parts. People consume stuff and those companies pay me dividends. 😅
Especially when hedge funds and the government can do whatever they want because the SEC is bought and paid for.
Overall, 51% of traders think this year would favor stocks, mutual funds, and other equity-based investments, despite Treasury yields and other safer cash-like investments paying big. I’m looking for opportunities in the market that could fetch me $1m ahead of retirement by 2025
reddit hates this channel.
Can you make a video about saving?
If people are talking about it it's already too late.
If you could somehow double your money every year which is unlikely,, with 1000 dollars, you would then be able to make a million in 10 years. It would take 50 years at 20%. It is about consistency rather than intensity. Becoming rich overnight with an investment is likely the worst way to acquire wealth. Everything is normally distributed with regards to money and you kind of have to play the game of managing the normal distribution of your bank accounts, investing, and costs because if it goes out of what the normal distribution predicts it will go, then all of a sudden you will make poor decisions and then wonder why you did what you did. Same where you pay off your credit card bill and suddenly, you have series of unfortunate events that can get you back to that normal distribution (statistics) probability range because then you are fighting statistical law which is a collection of data will on the next observation be in this range and if you are out of that range, then it will try to get it back to that range and mean. That is why mean reversion made so much money for hedge funds.
Well that did not age well
Steady investing, like Dollar Cost Averaging, will make you wealthy over time, like 20+ years (expect 30-40). Use a Roth IRA or Roth401(k) to avoid that 5.4% number, though. Yes, you're paying taxes as it goes in, but that's a negligible hit.