Disclaimer: Nothing in these videos is intended to be professional financial advice. This is for entertainment and educational purposes only. We hope to motivate the viewer into taking serious steps into improving their financial future, however, a licensed financial advisor should be consulted when ever necessary. The viewer assumes all financial risk on any endeavors they attempt. ... https://www.youtube.com/watch?v=X0hj-X2XnYk
Fidelity released their 401k balances for 2022. It's not looking like people are ready for retirement. AJ goes over the numbers and what you should do to get ready for retirement and financial independence.
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SHOUTOUTS AND RESOURCES:
1. How to get setup for retirement - https://wealthyidiots.com/articles/2022-07-31/cheer-up-retirement-is-possible-and-it-can-be-great/
2. 401k Data for Americans - https://wealthyidiots.com/articles/2022-06-09/americans-401k-balances-will-make-you-sad/
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https://www.youtube.com/watch?v=_W0TTuPsZkg
A 401k is one of the QUICKEST and EASIEST ways to build wealth. So why are these fancy suits trying to stop you from taking advantage of this great retirement tool? AJ breaks down the misconceptions an then attempts to explain why these guys might be pushing these lies.
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This week in personal finance news the debt ceiling debate still rages, inflation is slowing but no where near our goal, the federal reserve might be changing their minds on interest rates, CNN reviews what they believe is the top 5 financial misconception, AND there was an explosion at the pentagon that cost the stock market over $500 Billion!
Full Weekly Report: https://youtu.be/ZuCmRJlpXrg
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Disclaimer: Nothing in these videos is intended to be professional financial advice. This is for entertainment and educational purposes only. We hope to motivate the viewer into taking serious steps into improving their financial future, however, a licensed financial advisor should be consulted when ever necessary. The viewer assumes all financial risk on any endeavors they attempt.
00:00 Introduction
00:52 Debt Ceiling Debate Still Rages
02:17 Federal Reserve Doing a Full 180?
04:40 CNN's Top 5 Personal Finance Misconceptions
11:08 Explosion at the Pentagon cost the S&P 500 over $500B
13:14 Like and Subscribe
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https://www.youtube.com/watch?v=ZuCmRJlpXrg
Congress just passed the Secure Act 2.0 and the Senate is looking to make a few amendments. This will have an impact on nearly every American who is saving for retirement. AJ breaks down he different planks of this policy and then gives his opinion on what major personal finance laws the government SHOULD pass.
Article described in the Episode:
401k Balances - https://wealthyidiots.com/articles/2022-06-09/americans-401k-balances-will-make-you-sad/
The Wealthy Idiots Website:
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https://www.youtube.com/watch?v=icuiP58oWVc
The Federal Reserve announced that the CPI (inflation) is not as low as they would have liked it to be. This would mean that inflation will be around longer than expected and the Fed will have to be more aggressive on interest rates. AJ covers everything that's going on and we can do about it to protect ourselves.
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SHOUTOUTS AND RESOURCES:
1. Episode Mentioned - https://www.youtube.com/watch?v=z3dWf80MHU0
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https://www.youtube.com/watch?v=O0rQJ31VMPY
AJ reacts to a @Dave Ramsey Clip where a caller wants to know what to do with $550 thousand dollars he has in savings. Dave gives the most conservative advice that will actually cause the caller to lose money!
Check out our COMPOUND INTEREST CALCULATOR as described in the show:
https://www.wealthyidiots.com/calculators/compound-interest
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SHOUTOUTS AND RESOURCES:
1. Original Video - https://www.youtube.com/watch?v=6hGLIn9t-iM&list=WL&index=7&t=231s
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https://www.youtube.com/watch?v=y2S0TFQh6iE
Getting in the right frame of mind to build wealth and stop your debt cycle is important. Once you're ready, you can sit down and strategize the best way to pay off your debt and work towards financial independence. In this episode, AJ covers the mindset needed to begin and the 3 ways to pay down debt.
Check out our COMPOUND INTEREST CALCULATOR as described in the show:
https://www.wealthyidiots.com/calculators/compound-interest
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https://www.youtube.com/watch?v=WznBsDG8mqk
A lot of people are wondering the internet looking for people who are willing to part with their money. Others, are trying to build a community of smart, well rounded personal financiers. How do we tell the difference?
AJ reacts to a video made by "How Money Works" and their critiques of personal finance YouTubers. Are they problematic, or helpful?
Check out our COMPOUND INTEREST CALCULATOR as described in the show:
https://www.wealthyidiots.com/calculators/compound-interest
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The Wealthy Idiots Website:
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SHOUTOUTS AND RESOURCES:
1. Original Video - https://youtu.be/C3FyIev_f8s
2. Graham Stephan - https://www.youtube.com/c/GrahamStephan
3. Meet Kevin - https://www.youtube.com/c/MeetKevin
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https://www.youtube.com/watch?v=__S3_352hNE
FTX collapsed and now BlockFi is filing for Chapter 11 bankruptcy. What is going with Blockfi, FTX and the crypto collapse? Does this mark the end of the Crypto wealth train?
The Wealthy Idiots Website:
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https://www.youtube.com/watch?v=YwvXKDiazMs