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I have some bad news for you…
You are probably not going to be rich.
Not a particularly positive message to start a video on but its something that people need to hear from time to time.
Unfortunately, this is not something that most people want to hear, so there is no shortage of people out there that will tell you exactly the opposite, normally as a way to pitch you some kind of product.
Now of course most of you watching know that the YouTube ads saying that you can earn 6 figures in a month by selling on Amazon, Forex trading, or flipping real estate are full of shit.
But they still all follow a pretty similar routine,
hey, you can get rich
as long as you are willing to do XYZ
while listening to the advice I give you!
Again when it turns out that this advice is something that you have to pay for, most people get wise to the fact that it’s all just a massive scam.
Of course some don’t, which is tragic and there really genuinely should be more done about this, but that’s a story for another time… or a Coffeezilla video.
Instead the focus of this video will be on a group of internet guru’s with much more influence, a much larger following, and much more credibility, the personal finance personalities.
So it’s time to learn how money works and find out why you probably shouldn’t be learning to work your money like these popular YouTubers might suggest.
#PersonalFinance #Investing #HowMoneyWorks
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Music by Epidemic Sound
Links to all channels mentioned in this video
Meet Kevin –
Coffeezilla –
Graham Stephan –
Andrei Jihk –
The Plain Bagel –
With the fall out of crypto. This aged like fine wine
All of this is inconceivable under National Socialism.
Unearned income abolished
I think it is important to focus on savings and early investments. I dont agree with most of financial infuencers. Most of them are pure scams. Also – when i open my own page with day trading experience, i had a lot of people who wanted to literally give me any money possible to make profit. And i understand it – if you are good, above market good, giving you money and split profit seems reasonable. Many people use these people. I still think it is possible to make good profit on market, but it demand almost impossible level of discipline.
01:06 🚫 Personal finance personalities might not be the best source for financial advice.
02:26 📊 To maintain daily content, these personalities delve into personal stories, reactions, predictions, and new lessons.
02:45 🔄 Reaction videos can be informative, but predictions in personal finance, like stock market forecasts, are risky and may mislead viewers.
03:46 💡 Personal finance advice from these personalities can be overly generalized and not tailored to individual financial situations.
05:29 ❌ Creating arbitrary rules or investment recommendations, as done by some influencers, may lack financial expertise and could be misleading.
06:17 📉 The realistic rate of return for investments is around 6-12%, making the path to becoming rich slow and requiring consistent contributions over time.
06:40 📜 Personal success stories shared by influencers may be survivorship biased and don't represent the typical outcomes for everyone.
08:44 ⚠ Personal success stories are often used to justify other content, such as risky investment strategies.
10:31 💰 Financial influencers are selling the idea of wealth creation through attention-grabbing content, but real wealth creation is a slow and challenging process.
I like the phrase Dave Ramsey says:
Personal Finance is 20% Knowledge, and 80% Behavior.
I don't agree that financial education fits on a card. Because financial success is 20% information and 80% behavior. It's like saying you can lose weight by receiving a card with fitness and nutritional info. A good personal finance guru will provide a community, a way of thinking, a life philosophy. And since almost every decision has a financial component, there are a million subtleties. Not to get rich. To get free. That said, most YouTubers in finance don't provide this. You have to get pieces of wisdom here and there. You have to be your own guru to know who is good at what. For instance, Dave Ramsey is good at personal boundaries, which matter a lot. But terrible at investing advice, with his mutual fund unsustained claims
I’m the guy who DID invest his life savings…made a few million bucks and lost it ALL…several times. Listening to these types of people ruined my life…and those stories never get told. I’m SO SO glad somebody said this! I’ve been wanting to make a video like this for YEARS.
When you see a financial influencer in your feed do yourself a favor and click 'Not interested'.
Not to mention that out of the sudden they ALL BELIEVE IN GOD….and they star crying.about the miracles in their lives.
This video is complete shit
Good health, loving family, stable career, save 50% your salary every month, free from debt. This is true wealth.
One of the best parts about investing over speculating, besides making more money than inflation takes from you, is that it keeps you humble and unlikely to make huge financial mistakes.
Speculating can of course, get you far faster returns, but can also trigger a gambling addiction and make you overestimate your abilities until your stupidity costs you everything.
The fact that the influencers are spending a lot of time doing utubes indicate where their main source of money is from.
I recommended META stock when it was going down in Oct to Nov 2022, I'm glad it went well. 🙂
Here is the reals advice to make money :
If you want to stay legal, have connections to rich people or a ridiculous expensive skillset.
If you are born into poverty: do crime and do some money laundry because if you have a normal job, you will pay taxes and other services and will basically just barely survive until you die
You don’t seem to know how money works.
The careers you call “high risk income” come with high debt. Debt that doesn’t mean more income for most people.
It's crazy how people fall for these "experts". If they were so good personal finance, why are they still trying to sell you a $700 book?
Do you know bitcoin?
Ah? I thought everyone knew the five investments to make you rich?
Your skills. Your knowledge. Your health. Your family. Your friends.
…oh wait, you mean money-wise.
I absolutely HATE the fact that people can create channels that do nothing but pump out deceptive, misleading videos about how you too can make infinity billion dollars by doing some incredibly simple thing that anyone can do, and YouTube doesn't shut their channels down.
I'm talking about truly scummy channels like Journey with the Hintons, Wisdom Speaks, Joshua Mayo, and yes, Graham Stephen. They're making millions a year doing nothing more than lying to their audience and giving them false hope.
Even if they don't try and sell BS courses that are on a 90% sale for this week only, they make nauseating amounts of money just from ad revenue and sponsorships alone. Then they pretend that you can make the same amount, when in reality, 90% of their income comes from ad revenue generated from people watching their videos, and sponsorships.
It's like someone making countless videos on how to get in shape, when really all they did was get liposuction and plastic surgery. They're con artists, and they belong in jail with the other criminals.
Hahaha great intro
Growing problems "are still growth. so stfu". That's all the financial advice that i get from politicians. (Never let a god crisis go to waste) How could the internet be worse? By misinformation and disinformation? Isn't that the Intelligence service's JOB? Insider trading seems prevalent in Congress, So YOU will not make enough profit to rig an election. I am not interested in their ideology, only in the question if they are corrupt or not. Because Ideology doesn't prevent that. PRINCIPLES DO.