How To Save $1 Million On A $50K Salary

24-Dek, 2020
141 639 Ko‘rishlar soni

If you are making $50,000 a year, the thought of racking up $1 million for retirement can seem daunting. Yet with a little dedication and a lot of time, you can get there. As a rule of thumb, most financial advisors suggest you save 10% to 15% of your annual salary. Personal finance website Nerdwallet crunched the numbers, and we can tell you exactly how much of your $50,000 you’ll need to tuck away to get there.
Just a few things to remember: these numbers assume you have no money in your retirement plan, that you will get a conservative 6% return on your investments and that you will retire at age 65. The math also does not account for potential pay increases, employer matches, inflation, or any curveballs life may throw at you. So plan accordingly.
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How To Save A Million Dollars On A $50,000 Salary

Fikrlar
  • 65? That’s too old..

    Abdul HadiAbdul Hadi10 kun oldin
  • Im 20, have had 6 jobs, just lost my last one, and havent started college yet. Idek what i want to do with life anymore, and i feel pretty much screwed

    Green-Pill NeoGreen-Pill NeoOy oldin
  • If you have debt, do prioritize debt repayment before saving unless you are an experienced investor who is confident of earning more than your debt rate. But again if you are an experienced investor, you will probably not end up with debt in the first place.

    Wenn WWenn WOy oldin
  • Moral of this story, start saving in your 20s, don't wait until you are in your late 30s like I did. Playing catch up is not easy.

    MemphisEchoMemphisEchoOy oldin
  • What is the estimated retirement age?

    Israeliana NGIsraeliana NGOy oldin
  • How to save 1 million dollars on a 50K salary? Live in your car! Houses in the States are ridiculously expensive.

    Ron BaltazarRon BaltazarOy oldin
  • I think it’s sad that this 2 minute video isn’t shown weekly within a high school course. I wish I would have known this golden rule when I was 17-18.

    Razor SmithRazor SmithOy oldin
  • Life happens, medical bills, job losses, marriage/kids, mental health, etc. Do your best to save what you can and catch up when you have the means.

    J McDulesJ McDulesOy oldin
  • Aloha! Sorry to bother you.😢 If you're financially blessed, would you mind sharing some with me? I'm saving up to get my laptop working or get a new one. I badly needed one to be able to work again. 😭 Any amount will do. Been trying here in YT but haven't gotten any savings for the laptop yet though. Trust me, I did try everything already. I'm out of options. 😢 Still have bills to be paid. I'm so lost. So broke. 😭 P.S. Kindly ignore this instead of being mean to me. I've had too much. I'm so vulnerable rn. 😢

    Read my ABOUT section PLEASERead my ABOUT section PLEASEOy oldin
  • One million is a little low by today's standards, let's go for $1 billion.

    sutatssutatsOy oldin
    • 1 MILLION is a lot of money and most people on planet earth will die and never reach that number

      ciel222ciel2223 soat oldin
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    Bullitt741Bullitt741Oy oldin
    • Wow this is refreshing ... I'm surprised that you know MR keen , he needs the press for someone performing excellently as he is

      Jose AusterberryJose AusterberryOy oldin
    • My goal is to own 10 BTC before next month and follow up with the next halving, I currently owned 2.5 BTC and thanks to Mr Benjamin keen's or helping me achieve that as I started trading using his method with just 0.3BTC.

      Wilson LeeWilson LeeOy oldin
    • The course is good and i Recommend it to everyone also, I've learned a lot and Mr Benjamin keen explains things like a real trainer in a clear and structured way. Good job to you all!

      Richard GuerraRichard GuerraOy oldin
    • My entire portfolio as of today stands on 4BTC from 0.5BTC I invested, I am grateful and many thanks to Mr Benjamin Keen for his help.

      ziitoun31ziitoun31Oy oldin
    • Hello guys, I don't really know all the candle meanings and graph readings, I am a beginner. Will this course be best for me? I hope He is affordable, I am hoping to quit my job to make money from trading my bitcoin and Live the trading life..

      Gabriela JodłowskaGabriela JodłowskaOy oldin
  • Step one Get 50k salary in a Panera Bread ✍️ ... 😑

    oh my Naooh my NaoOy oldin
  • lets assumpw someone has a family, daycare, bills etc. I wish I can save that much and I'm at 72k a year and the wife is at 37k but when you have to pay over 1k for daycare a month its crazy! and starting at 25 LOLOLOL I was still trying to find a job out of college!

    ROB GROB GOy oldin
  • The testy fear optimally number because channel plausibly disarm over a garrulous niece. lovely, clever design

    Odd NotifyOdd NotifyOy oldin
    • +1 (7 2 4 ) 6 1 7 - 2 0 6 1

      Chris SainChris SainOy oldin
  • Where can I save and get a 6% rate

    Apolonia OndoApolonia Ondo2 oy oldin
    • As the comment above says - any S&P fund should be good. Over the last 100 years the S&P 500 has averaged 10% growth per year

      J SebbyJ SebbyOy oldin
    • you have to invest to get that 6% return. A good place to invest is into an S&P 500 index fund

      Where Am IWhere Am IOy oldin
  • I don’t even make 50k 😳

    Unknown ErrorUnknown Error2 oy oldin
  • What about a $25,000 salary?

    Renecial PorterRenecial Porter2 oy oldin
    • +1 (7 2 4 ) 6 1 7 - 2 0 6 1

      Chris SainChris SainOy oldin
    • Thanks for the comment you can invest that in other to grow your profit Reach my broker for assistance

      Chris SainChris SainOy oldin
  • All these people commenting 😑 are y’all millionaires? Because SIS 😩😑.

    Tia MorganTia Morgan2 oy oldin
    • +1 (7 2 4 ) 6 1 7 - 2 0 6 1

      Chris SainChris SainOy oldin
    • My dear you can also be a millionaire, that's why I want you to reach my broker for assistance on how to start invest

      Chris SainChris SainOy oldin
  • This I have to see ☕.

    Miss T NMiss T N2 oy oldin
  • It’s quite some years ago I stared this business. I traded with AWAL he’s originally from UK 🇬🇧 We met on Instagram. I earned a lot of money from it. My family always comes first and I found something that allows me to work around my life. This doesn’t require you to sit at desk for hours All it takes is picking up your phone , like you are right now When you have a spare moments, trust me it changed my life 😊 I got interest in the business. So he taught me everything I need to know. The hardwares used in doing this and how the operation goes. Today I’m so excited I’m doing great in it. A lot of people got rich through this. Bitcoin has changed the life of so many. Bitcoin is the future... *INSTAGRAM* AWAL at *_SAPYTHON_1* to learn more 🎄🙏🙏🙏

    Amy SummerlinAmy Summerlin2 oy oldin
  • I need one million, not at the age of 60, but at the age of 30.

    LachicadelcableLachicadelcable2 oy oldin
    • +1 (7 2 4 ) 6 1 7 - 2 0 6 1

      Chris SainChris SainOy oldin
    • Try to invest at these age to enable you meet up your dreams reach my broker for assistance on how to invest

      Chris SainChris SainOy oldin
    • That's the motivation

      Chris SainChris SainOy oldin
  • To the point and helpful! Having these #s in mind is a great start 👍🏽

    Debt Free DeeDebt Free Dee2 oy oldin
    • +1 (7 2 4 ) 6 1 7 - 2 0 6 1

      Chris SainChris SainOy oldin
  • after taxes you will have neto profit 1million right?

    PaulG 1998PaulG 19982 oy oldin
  • Not the best way to become a millionaire..

    Daniel AllyDaniel Ally2 oy oldin
    • @Samah Amara retiring with $1million = being a millionaire...

      MyBloomingLifeMyBloomingLifeOy oldin
    • That's not to become a millionaire ..are u dumb? It's for retirement

      Samah AmaraSamah Amara2 oy oldin
  • A wise man told me once, "Do everything when you're young because you can't do anything when you're old." Enjoy life you can't take that money with you when you die.

    Janelle NoirJanelle Noir2 oy oldin
  • Why would you need $1mil when you're 65 though?

    EriEri2 oy oldin
    • @Where Am I I don't think there's a lot of stuff you can enjoy when you're 65. I would rather take some risks (investing) while I'm still young so I can enjoy my youth. If I waste my years while I'm young I will spend my 60's regretting my decisions and I don't think a million dollars or 10 million dollars can change that.

      DonoutBoyDonoutBoyOy oldin
    • So you can retire. You actually need a lot more than one million to retire at 65.

      Where Am IWhere Am IOy oldin
  • It's very practical. Follow me to learn more baby

    Gem boxGem box2 oy oldin
  • Man ain't nobody trying to wait until 60 to retire

    The Gaming DividendThe Gaming Dividend2 oy oldin
  • Only if you make 50k a year in a tax free nation.

    pankaj12442pankaj124422 oy oldin
  • Rice and beans, beans and rice!

    EternalEternal2 oy oldin
  • Can you make this same video with a $35K and $40K salary?

    LGLG2 oy oldin
  • I won’t stress myself on Christmas 🎄 or new year just send 2 btc to awll there clients glad working with that team

    Hannah HannahHannah Hannah2 oy oldin
  • Honest question here: is a 6% annual return a reasonable expectation?

    AlexAlex2 oy oldin
    • Yeah. Look up the historical average S&P 500 return - it is around 10% all-in pre inflation. 6% or 7% post inflation is pretty fair.

      GorevetGorevet2 oy oldin
  • By the time you rack up 1 million, you will realize you are too old to enjoy it. I would rather set the goal to work my butt off for 5-10 years to earn that amount when I am young.

    Askar YeldarAskar Yeldar2 oy oldin
  • Saving. Lol

    Christian ThüringerChristian Thüringer2 oy oldin
  • One word: WSB

    Andrew LeAndrew Le2 oy oldin
  • I'm a huge believer in the make money, save, invest policy, Not to put numbers down but I'm doing quite alright for myself even during the Lockdown. I invest in the stock market with an expert, made passive income,save and spend and it's worked for me.

    Eric McKenzieEric McKenzie2 oy oldin
    • @Eric McKenzie I appreciate the recommendation.... I reached out to hovik his been helpful.

      Antonio LorenzoAntonio Lorenzo9 kun oldin
    • John Addison said " you can make money or you can make excuses, your choice" that's why for me trading the stock market has been a key factor in making my $500,000 this year and still counting, Trading the stock market with the guidance of Mr Hovik Morte has been a blessing, his daily signals, advice and support has been amazing. Mr Morte's an amazing broker and the best at what he does

      oliver martinsoliver martins2 oy oldin
    • Mail him @

      Eric McKenzieEric McKenzie2 oy oldin
    • This is exactly what top businessmen and CEOs talk about, how people without degrees could make money online without applying any physical effort. The online trading community is reliable and lucrative enough to when done with proper strategies and guidance.

      Antonio LorenzoAntonio Lorenzo2 oy oldin
    • I love your optimism but the trade market doesn't run on luck or prayer even some of these videos online don't really break down and expose you to all the risk that involves trading,The stock market is changing constantly and every successful trader wants to change with it wants to improve and update their understanding of it so the profit will keep on rolling in. Even brokers with years of experience and hefty sums in their accounts still study and work hard at understanding the complexity of the market to their best. This complexity makes it harder for newbies with very little to no experience trading to make profit from their investments. Case study is myself I got into the stock market after my neighbor moved out of his rented apartment into his own home, not to sound too envious but "who wouldn't want that"? So I started researching and I started with a demo account after a few unsuccessful trades I got into partnership with Mr Hovik Morte who I met through good recommendations of his clients. Mr Hovik now handles all the analysis and calculations of my account. This giving me more time to become a better father and husband, All I have earned and learned from the market is from the $4,000 i enrolled into his investment programme with. Hovik has generated more profit than i could ever imagine. But you can't expect less from the best.

      Eric McKenzieEric McKenzie2 oy oldin
  • How can I save 50k with a 1$ salary?

    PE VPE V2 oy oldin
  • And $1M in 30+yrs will be worth???

    Andrew CumminsAndrew Cummins2 oy oldin
    • Lol good question. Add 2% every year for 30 years to get your answers

      Joe MilisJoe Milis2 oy oldin
  • But Is $1M enough?

    Max StarWar ̄へ ̄Max StarWar ̄へ ̄2 oy oldin
  • With mass shootings, our govt not caring about the environment we'll have to live in, and being told we won't have social security, we don't want to wait to retire at 65.

    R SmithR Smith2 oy oldin
    • R Smith stop crying

      Joe MilisJoe Milis2 oy oldin
    • @Claire Lubrano please show me where I said I was "planning my financial life" around that stuff?

      R SmithR Smith2 oy oldin
    • @R Smith because it’s very statistically unlikely that you’ll be shot in these places, and planning your financial life around that chance is not at all wise.

      Claire LubranoClaire Lubrano2 oy oldin
    • @Claire Lubrano as in, if we can get shot in random normal everyday places, i.e movie theaters, malls, & Wal-Mart, why do we have to wait till 65 to enjoy life if it doesn't seem that we are able to enjoy life at everyday places?

      R SmithR Smith2 oy oldin
    • That’s interesting, I’ve never heard of anyone factoring in mass shootings when planning retirement before...

      Claire LubranoClaire Lubrano2 oy oldin
  • Another big thing is to don't compare yourself to others with their salary. You never know how they are really living. Plus while your saving money make sure you enjoy yourself. Take trips, go out with family and have fun. You don't want to have fun at 65 years old.

    ici et làici et là2 oy oldin
  • Graham Stephan approves

    Crystaline PPLCrystaline PPL2 oy oldin
  • 6% return and not adjusted for inflation. Is this a joke?

    Bell ManBell Man2 oy oldin
    • The 6% most likely is accounting for inflation

      J SebbyJ Sebby2 oy oldin
  • I've always wanted to invest in forex/stock trading, after a few trials I realized that trading without a good mentor and guidance is a waste of time and money.

    Sandra MarieSandra Marie2 oy oldin
    • (A n d y c a l i 9 2 4 @ y a h o o . c o m)

      Allen BrooksAllen Brooks2 oy oldin
    • How can I get to contact Mr Andy?

      Doris RollinsDoris Rollins2 oy oldin
    • Most times I asked myself if there are real account managers but I'm glad mr Andy has brought me out of that delima.

      Andrew LuckyAndrew Lucky2 oy oldin
    • Honesty and trust means a lot to me that's why I still trade with Mr Andy. It's been 7months now and I haven't had reasons to doubt his competence. Traders/Account managers like him are hard to come by.

      Donald MichealDonald Micheal2 oy oldin
    • I have always wanted to expand my business but I could not do that because the cash was not forth coming as I had planned. Getting referred to Mr Andy Calistoga played a great role in that vision. Mr Andy is a great mentor and the best trader/Account manager on my list.

      Allen BrooksAllen Brooks2 oy oldin
  • $1m isn't going to be much money in 20-30 years

    Grass is Greenner on this SideGrass is Greenner on this Side2 oy oldin
    • It's still will be A LOT OF MONEY

      ciel222ciel2223 soat oldin
    • Better than zero.

      P LP LOy oldin
    • @internetultrageek SS still has a surplus until 2035 as of the most recent estimate. And even after that you'll still get SS. And thats even assuming they do nothing to fix it

      J SebbyJ Sebby2 oy oldin
    • SS funds will be drained long before 20-30 years from now. Financial experts have been saying this for over a decade

      internetultrageekinternetultrageek2 oy oldin
    • @Grass is Greenner on this Side you'll get SS. Plus the investment rate in this most likely accounts for inflation. Plus your salary will go up as well. You aren't going to make 50K every year for 40 years either Plus the video is just showing you how to save that much money. If you think you need to save more then save more

      J SebbyJ Sebby2 oy oldin
  • 1M will be worth much much less when recent college grads hit 65

    sonny8988sonny89882 oy oldin
    • It will still be a lot of money

      ciel222ciel2223 soat oldin
    • Okay - and?

      J SebbyJ Sebby2 oy oldin
  • But there are way better options in investing in crypto to make 1million in 10 years if not quicker

    Tracy MckennaTracy Mckenna2 oy oldin
    • Investing in something that has not existed in the last 20 years is not investing lol

      Joe MilisJoe Milis2 oy oldin
    • Especially in this lockdown era a quicker way is better

      Brodie WardakBrodie Wardak2 oy oldin
  • And where are these savings being invested exactly?

    Paul HoPaul Ho2 oy oldin
    • @Paul Ho alright so first off take everything with a grain of salt and do your own research haha. But a 401K is a retirement account - I believe it has to be offered by your employer. So its a place to put money that gets matched by your employer and grows tax free till you retire. The S&P 500 is just an index or a measurement of 500 large companies that make up the vast majority of the stock market. And historically - the average growth is 10% per year. I think there are mutual funds that are meant to mimic the S&P 500 - so theoretically if you invest in those you should have similar growth

      J SebbyJ Sebby2 oy oldin
    • @J Sebby as not an expert, how different is that from a 401k? Would that be just a mutual fund?

      Paul HoPaul Ho2 oy oldin
    • @Paul Ho fair enough lol. I mean I'm not going to give you financial advice because I'm not an expert haha - but if you just play the market itself as a whole like the S&P 500 it has an average historical return of 10%.

      J SebbyJ Sebby2 oy oldin
    • @J Sebby that's as vague as just saying to invest in the first place. Juicero stock, coming right up!

      Paul HoPaul Ho2 oy oldin
    • In the stock market

      J SebbyJ Sebby2 oy oldin
  • What do I need if I make 30,000 a year though

    you know with Marty Kauffmanyou know with Marty Kauffman2 oy oldin
  • What will be a million dollars after 30 years Nothing.....just save...and earn more

    Rajat KalraRajat Kalra2 oy oldin
  • 1 million dollars in 2030 2040 or 2050 are very different

    CharlesCharles2 oy oldin
    • Not that different. It still a lot

      Anouk CAnouk C2 oy oldin
  • Which investment pays 6% these days?

    S SS S2 oy oldin
    • Literally any equity product in the last 40+ years

      Joe MilisJoe Milis2 oy oldin
    • The stock market

      J SebbyJ Sebby2 oy oldin
  • 6% return on investment !?

    Thierry CoulibalyThierry Coulibaly2 oy oldin
    • Yes

      J SebbyJ Sebby2 oy oldin
  • I’m building a life I don’t need to retire from 👌🏿👌🏿

    Quintin masonQuintin mason2 oy oldin
  • roth ira is the key

    Deeken WheelerDeeken Wheeler2 oy oldin
  • If I made $50K per year, I could easily save and invest $2K every month! Im cheap and simple

    Miguel YanezMiguel Yanez2 oy oldin
    • @Buiji thank you. And I take it renting is not cheap either (depending where you live of course).

      Miss LondonMiss LondonOy oldin
    • No. Ever heard of taxes?

      Mira BellaMira BellaOy oldin
    • After tax it’s only about 3350 per a month

      BuijiBuiji2 oy oldin
    • Sorry to ask but I live in London and have no idea about taxes in the US. How much is 50k after tax in the US?

      Miss LondonMiss London2 oy oldin
  • First, How do I make $50,000 ? I dont want college debt. Minimum wage around here start at $18,000 per year.

    Miguel YanezMiguel Yanez2 oy oldin
  • If you make $50K, your take home pay isn’t $50k. It is more like $35K after taxes. And so this wouldn’t work.

    Janine MackJanine Mack2 oy oldin
    • 401k’s are taken out pretax. Also if you have an employer that matches your contribution, that’s even better.

      Kasandra WilliamsKasandra Williams2 oy oldin
  • it would be nice to have job stability for 40 straight years

    ChaudilocksChaudilocks2 oy oldin
    • Even for five years

      internetultrageekinternetultrageek2 oy oldin
  • There is hope!!!

    Ana BettencourtAna Bettencourt2 oy oldin
  • Honestly the most misleading video ever. Basically the assumption is that you have to live like a college student for the rest of your life. There are no assumptions about having money to start a family or buy a house or even buy a car.

    Jason SiuJason Siu2 oy oldin
    • You’re cute ;)

      Chi XuChi Xu2 oy oldin
  • Save 50-70% of income

    nitish kannannitish kannan2 oy oldin
  • I need to start saving

    KarmiangodKarmiangod2 oy oldin
  • Magic

    Nayema LaboniNayema Laboni2 oy oldin
  • This video literally told me nothing

    deon fraserdeon fraser2 oy oldin
  • 6% return is pretty low and fairly conservative which is a good model to forecast from; however, where was inflation calculated in? Currently I have mutual funds returning 10% - 12%.

    Jack Of All TradesJack Of All Trades2 oy oldin
    • Which mutual funds are those?

      Atiloluwa OlajideAtiloluwa Olajide2 oy oldin
    • Seems like inflation was calculated in the low return rate

      J SebbyJ Sebby2 oy oldin
  • If you are in your twenties or thirties, you will need far more than a million dollars by the time you retire. Heck, a million dollars is far short of what someone who retires today will need. Based on inflation over multiple decades, you will need upwards of $8 million dollars.

    SarabethSarabeth2 oy oldin
  • Basic principles.

    Anouk CAnouk C2 oy oldin
  • Wow, what a wake up call! I turn (30) in January 2021. Thanks for helping video.

    DeShawn Woods-CarterDeShawn Woods-Carter2 oy oldin
    • That’s what’s up! Happy Early Bday.

      DeShawn Woods-CarterDeShawn Woods-Carter2 oy oldin
    • The same for me (on the 17th). I only been saving $400 a month, so I guess I am a little behind.

      TrapZeroTrapZero2 oy oldin
  • Max out your 401k and your IRA. By doing that, you can have 1 million in 20 years. More with an employer match. There's no rule that you have to do 15% a month.

    Saul GoodmanSaul Goodman2 oy oldin
  • SPENT LESS EARN MORE

    K AK A2 oy oldin
  • Thanks for the advice this was really helpful.

    M BEEZYM BEEZY2 oy oldin
    • Yeah so much hope

      Ana BettencourtAna Bettencourt2 oy oldin
  • Great video, simple and to the point. I have two considerations, 6% is not conservative when looking at long intervals. DJIA (Dow Jones) returned that on average on the last 15 years and stocks are not conservative investment. Inflation might be low in the US but you have to account for that. When you put this two together you come to the conclusion that you need to save more than what was informed.

    Yuri AgostiniYuri Agostini2 oy oldin
    • Pretty sure they took the average of 8% returns and subtracted the average 2% inflation. Thats how you get 6% and it does sort of count for inflation

      J SebbyJ Sebby2 oy oldin
  • The problem that isn’t addressed here is Inflation. Will 1 million dollars hold the same value as today in 2060? I don’t think so.

    AmanAman2 oy oldin
    • Investing in an index fund will yield an average of 7% returns above and beyond inflation. You shouldn't be holding $1 million in cash. If you spend less than the money grows, you remain a millionaire indefinitely.

      gamelord12gamelord122 oy oldin
    • It's still a lot of money when you are retired

      Anouk CAnouk C2 oy oldin
  • "The earlier the better", so many people in their 20's and 30's are not taking advantage of employer 401k match! #FreeMoney

    Atypical AdultAtypical Adult2 oy oldin
    • @ThatGurl open that Roth IRA asap. It’ll be tax free once you liquidate it at 59 1/2. Remember to not withdraw before 59 1/2 same with the 401k.

      Merry MauraderMerry Maurader27 kun oldin
    • I opened mine at 18. No regrets I just hate the weekly fees

      Merry MauraderMerry Maurader27 kun oldin
    • This is one thing I did right when I got my first "real" job at the age of 21 - started contributing to the 401k match and then adding 1% every time I got a raise. Now I'm 27 and learning about roth IRA and other investments to try and make my money grow more.

      ThatGurlThatGurlOy oldin
    • True, wish u had all this knowledge 10 years ago... sigh

      Ana BettencourtAna Bettencourt2 oy oldin
  • Really great suggestions! and this is such an important topic to be discussing at the moment, I really enjoyed the video!

    Reece CarusoReece Caruso2 oy oldin
  • 50k salary? In my country you're considered lucky if have 1K monthly salary. Even managerial or even some director's dont have 50K on their bank.

    Stereotyped MeStereotyped Me2 oy oldin
    • You probably need less for retirement then, im sure your cost of living is much lower as well

      Joe MilisJoe Milis2 oy oldin
    • The numbers apply for North American people, feel free to adjust the goal.

      Anouk CAnouk C2 oy oldin
  • Can anyone tell me how do i get 6% returns on my investments? Any bank or organization name would be helpful

    Aiden AshmondAiden Ashmond2 oy oldin
    • @Aiden Ashmond You can also open a brokerage account and find an ETF that tracks the SP500.

      Rick ForeRick Fore2 oy oldin
    • @Rick Fore but i live in France. We don't have Vanguard or S&P 500

      Aiden AshmondAiden Ashmond2 oy oldin
    • @Azam Veru thanks I'm contacting him right away. I heard he's a the best broker in the market. I'll invest 80% of my income

      Tran ThuyTran Thuy2 oy oldin
    • Open an account on vanguard, invest in the SP500.

      Rick ForeRick Fore2 oy oldin
    • @Tran Thuy Mr. Greg is no far from reachable, you can contact him with

      Azam VeruAzam Veru2 oy oldin
  • You make 50k your post tax is 38k. After rent and food and living expenses you get about 15k left. Save all of it and it will take you 50 years minimum.

    LuluDemonLuluDemon2 oy oldin
    • @LuluDemon i mean - yeah kinda

      J SebbyJ SebbyOy oldin
    • @J Sebby Exciting!

      LuluDemonLuluDemonOy oldin
    • @TrapZero Aye Aye, Mr. Buffet. Next.

      LuluDemonLuluDemonOy oldin
    • It would only take 27 years

      J SebbyJ Sebby2 oy oldin
    • God forbid, everybody's living expenses are different and if some people make amazing investments.

      TrapZeroTrapZero2 oy oldin
  • You may reach that million dollars goal, but the value of that amount will diminish along the time, accordingly with the annual inflation :/ Having a million dollar right now, at 65 sounds good, but having a million dollar at 65 in 2050 may not be that sweet, I'm afraid. Don't get me wrong, the best moment to start investing is right now, but the future seems dark and full of shadows.

    DragnesiDragnesi2 oy oldin
    • 1. Its still a million dollars. 2. They already accounted for inflation with the conservative return rate

      J SebbyJ Sebby2 oy oldin
  • People will be kicking themselves in few weeks if they miss the opportunity to buy and invest in bitcoin

    avestrigro àñordavestrigro àñord2 oy oldin
    • @badger7 yep just warning people

      Lakshya DhariwalLakshya Dhariwal2 oy oldin
    • This entire thread is filled with bots

      badger7badger72 oy oldin
    • SCAM . BOT COMMENTS

      Lakshya DhariwalLakshya Dhariwal2 oy oldin
    • I got Raymond James info how good is he ?

      Bogdan VadimBogdan Vadim2 oy oldin
    • Trading without a professional like Expert Raymond James is like gambling with your money

      God SilverGod Silver2 oy oldin
  • 6% return keeps compounding annually.. what a nice conservative assumption

    Tyler L.Tyler L.2 oy oldin
  • Why not invest 75% of your income?

    Juan SalazarJuan Salazar2 oy oldin
    • Very hard to do if you have a family

      Anouk CAnouk C2 oy oldin
  • What are people talking about, $50,000 is definitely enough... I have everything I need... a Member's Only Jacket a 83' Datson and car phone (my job pays for both) a 24" Zenith Color television, a boombox with every Rod Stewart tape an answering machine and a Cedar Ranch style house - I paid it off with my $30,000 bonus (adjusted for inflation) I am doing great on my 401k, But... I just wish they would get rid of our president... I voted for the peanut farmer. Oh yeah, did I mention I still have my pension too!

    Chris Lane JonesChris Lane Jones2 oy oldin
  • Long story short: it’s not hard, discipline, live on less than you make. Start now.

    Gabriel WaggonerGabriel Waggoner2 oy oldin
    • @Ana Bettencourt Would you have listened 10 years ago? One of my coworkers is 28, lives at home, makes over $40k/year and explains he can't save because "I'm young, man - I have to live life." Which apparently requires an Audi. ;-)

      E BrownE Brown2 oy oldin
    • The sooner you start the better. Wish I had known this 10yrs ago

      Ana BettencourtAna Bettencourt2 oy oldin
  • Just start saving as much as you possibly can as soon as possible to help the future you!!!!

    Flis FinanceFlis Finance2 oy oldin
    • Preach!

      Ana BettencourtAna Bettencourt2 oy oldin
  • NBC: There's a line of cars the length of Rhode Island outside of every urban food bank, people are waiting hours for a hot plate. CNBC: If you just make $50,000 a year... come on... You can do it.

    Chris Lane JonesChris Lane Jones2 oy oldin
    • @Chris Lane Jones haha no arguments there. Although median earnings still increased in 2020 vs 2019. Pretty significantly too

      J SebbyJ Sebby2 oy oldin
    • @J Sebby Yeah that's really true... If it could just stay 2019 forever.

      Chris Lane JonesChris Lane Jones2 oy oldin
    • More than half the people who work full time in this country earn over $50K - its not that rare

      J SebbyJ Sebby2 oy oldin
  • *patiently waits for graham to fact check this video*

    Enough-ism PodcastEnough-ism Podcast2 oy oldin
  • Pretty based. This video should be required viewing.

    Thomas AdamsThomas Adams2 oy oldin
  • Hi, I only wanted to say that i really liked your content, congratulations! I have subscribed to your C h a n n e l 😉 Possibly, You can do the same and we will become "real" UZworld friends

    Nano HawkNano Hawk2 oy oldin
  • Do not promote how to save. Talk about innovation make difference. Brain wash channel. Human should innovate increase life quality.

    Business For SaleBusiness For Sale2 oy oldin
    • / c o i n p l u s e T r a d i n g _βσҭ. is their trading bot

      Tran ThuyTran Thuy2 oy oldin
  • Automating your finances is such a game changer. I recently increased my 401(k) contribution to 15% after paying off student loans. I also have a mix between my pre-tax 401(k) and Roth IRA. What do folks think about having a blend between the two?

    Personal Finance With SidPersonal Finance With Sid2 oy oldin
    • @Xuan Chinh thank you! I followed Dave Ramsey’s baby steps and put the majority of my take home pay to student loans. It all came down to focusing on one financial goal. Once you pay down debt you can take advantage of your number one wealth building tool; your income.

      Personal Finance With SidPersonal Finance With Sid2 oy oldin
    • Sounds great to me as long as you max out the Roth first every year.

      TrapZeroTrapZero2 oy oldin
    • ​ @Tran Thuy thanks for your insight on trading. is it possible I get an invite link to this trading bot. I already saved up something, I think I can start with that

      Xuan ChinhXuan Chinh2 oy oldin
    • ​ @Xuan Chinh from the many options of making huge profits. I choose crypto trading. this has changed my life for good. just last week successful trading earned me $10,000 using CoinPluse trading bot on telegram

      Tran ThuyTran Thuy2 oy oldin
    • Wow! this is definitely the best comment I've come across today. Please how did you do that sir?

      Xuan ChinhXuan Chinh2 oy oldin
  • This doesn’t tell u HOW lol

    filmsbywinterfilmsbywinter2 oy oldin
    • LMGTFY

      Kim LeKim Le2 oy oldin
  • Save, stack, and invest

    thatssojayahthatssojayah2 oy oldin
    • Simple

      Ms. Perfectly ImperfectMs. Perfectly Imperfect2 oy oldin
    • Preach!

      Ana BettencourtAna Bettencourt2 oy oldin
  • This assumes that the 50k income is tax free.

    bngr bngrbngr bngr2 oy oldin
    • @bngr bngr yes it is. Money in the stock market makes money on itself

      MattTheBeastMattTheBeast2 oy oldin
    • @MattTheBeast correct but that is not compound interest.

      bngr bngrbngr bngr2 oy oldin
    • @bngr bngr banks pay like 0.1% interest. Almost nothing. The 6% in this video is referring to stock market index funds (which actually has an avg return after inflation of 7%)

      MattTheBeastMattTheBeast2 oy oldin
    • @MattTheBeast that’s more correct. Still banks are the only ones that pay compound interest. But they don’t pay 6%.

      bngr bngrbngr bngr2 oy oldin
    • So it’s really about 70k income

      MattTheBeastMattTheBeast2 oy oldin
  • Umm.. any mention of time required?

    Martin LeeMartin Lee2 oy oldin
  • Ehh, it does matter how old you are although your math is basically correct. Also, it’s not “saving”. Saving is putting your cash is a dumpy 0.01% account and losing it away to inflation. This is *investing* and you should be clear about what modes you are using. Ramit Sethi recommends low cost Index Funds, possibly on a Roth IRA.

    M WM W2 oy oldin
  • Great content CNBC! CNBC is one of the realest channels out there dropping truth bombs about how to save and invest. Well don!

    Todd Baldwin - Millennial MillionaireTodd Baldwin - Millennial Millionaire2 oy oldin
  • Who are these financial advisors that suggest only to save 10-15% annual salary? That's mad low...

    dwichiesadwichiesa2 oy oldin
    • @TrapZero 🤣🤣🤣

      Mira BellaMira BellaOy oldin
    • @TrapZero Have you met any sixty-five-year olds? They're not invalids.

      Natalie FontaneNatalie Fontane2 oy oldin
    • I think that was something recommended back when people typically had pensions. If Millennials did that, we'd all need a hike in Social Security payments to be able to retire, and everyone knows that's not happening.

      Natalie FontaneNatalie Fontane2 oy oldin
    • They are assuming that everyone wants to retire around 65. I don't. I want to be able to go on vacation without wearing a diaper.

      TrapZeroTrapZero2 oy oldin
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