5 Levels of Wealth AND How to Achieve Them! (2023 Edition)

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Information 5 Levels of Wealth AND How to Achieve Them! (2023 Edition)

Title	:	5 Levels of Wealth AND How to Achieve Them! (2023 Edition)
Lasting	:	42.47
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This is one of the best episodes! You guys are great!
Comment from : RyanAA56

I recently started investing in the stock market myself so I can boost my own level, and after I read about someone who made more than $100,000 in two months o f investing How do enthusiasts pull that off? I'm hardly able to move the needle on my profits
Comment from : Cloudy Blaze

Am 58 retiring next year but the thought of retirement gives me weakness My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen It’s so difficult for people who are retired and have no savings or loved ones to fall back on
Comment from : Jaküb Ageter

Great content, very informativebrKnowledge is power Living below your means is a foreign but important truth for successbrThanks for good, accurate info
Comment from : Snowman

Hello Brain & Bo,brFirst of all, thanks 🙏 for sharing so many great videos about on how to saves in order to reaches a Golden Goal of FIREbrbrQuestionbrMay you please define what is the purpose of a different numbers on every videos that displayed on a small but huge numbers behind Bo’s? For example this video obtained with $267,000 😀🙏👋
Comment from : Stacy Tran

The more I listen to these American economy podcasts, the more thankful I become for being Swedish I come from a working class family, studied medicine for 6 years, graduated last year with $60k of student loans with 000 interest in 2022, and now 059 interest in 2023 ($500 payments every 3 months)brIf I had lived in the US and not given up on this dream, my loans would probably have been about 5x, and the interest rate about 10xbrOn top of that we have universal health care, greater job security and welfare programs, so most people don't need that big of an emergency fundbrI would guess it's easier for most people to become a millionaire in Sweden, while it's easier to become a billionaire (or homeless) in the US(?)
Comment from : James Filosa

I am ata point where I am absolutely terrified of spending money on non-necessities It’s become a virus “No, you do not need a nicer "vacation" or a Tesla or wasting money on putting in a pool No, you do not need to waste money on shit that doesn't bring you in extra income that you'll need later in your life Because guess what? You're going to pay the price for it later on down the line” Right now I need to have this mindset as I need to catch up But what if I get to a place of actual freedoms and I still thumb my nose at using my funds to actually enjoy the fruits of my labor? Sounds pretty miserable
Comment from : Andrew Acuna

New to seeing your videos and y’all have put a fire under my butt to get saving No house yet, 12k in student loans, 26 with 2 kids, and I have no idea why I haven’t been saving yet Contacting HR tomorrow to get my employer match, embarrassed I haven’t gotten this free money during the best compound years but my future self is glad I am just starting
Comment from : kalleyminnick14

A couple of months ago I moved from Stability to Strategy and it feels like the journey is definitely underway
Comment from : Greig Clement

What books would you guys suggest on investing?
Comment from : Darkwing_Don

I'm in Security phase!!!
Comment from : Gerald de Belen

GREAT CONTENT ,These are very valuable rules for anybody who wants to get rich Unfortunately, most people who will watch this video will not really be able to apply the principles We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit I just don't know how they do it I have about $89k now to put in the market
Comment from : Harper Levi

This was one of the most beneficial videos that I've watched It helps give me perspective as my life changed dramatically from poverty to wealth There is something to be said about working and investing for years and making a plan versus a sudden wealth situation I have huge gratitude, but it is much more stressful than people realize Shows like this, give me some guidance on how I'm doing with managing my money
Comment from : zumapuma38

Boring
Comment from : Thomas Volkmuth

I'm 37 and grew up in a poor family with no advantages in life Last year I finally made my way out of debt, set up a Roth IRA, doubled my income, started a 401k, saved 12K in an emergency fund I may or may not have the 24M for retirement but I'm damn proud of myself I found my way out of being a consumer to being an investor, you can do it to
Comment from : Delta Blue

I need a hug and two more jobsbrMy first two jobs hardly put me on schedulebrShould I try for a google certificate?
Comment from : Emy Barker

I feel like I am 75 into abundance, but not quite yet made it out of security Once I hit independence in just a few years, I'll skip to abundance fast
Comment from : NoBelief IsOK

I’ve always wondered about the MND formula Do married couples combine net worth to calculate a single value or are they meant to calculate separately?
Comment from : Tyler McConnell

I don't know if you guys script this or what, but it flows so well, and is so engaging to listen to
Comment from : Heather K

cool to see other perspectives but also the intersects between the finance teams of different opinions sorta like yall are the 5 baby steps, ramsey is the 7 and theres someone oyt tghee with likea 2 baby step plan ;) it seems like the biggest difference in most is the way to fund or allocate money to the market other than that, most of the begining steps are nearly identical (said in his UFC mike voice get that refrence and ill give you a high 5 lol)
Comment from : John Hall

WowI'm in abundancethis was such a transformative revelation👏🏾
Comment from : Dr K

Building wealth is in your mindset, work on that and your financial potentials becomes exponential, develop good habits like avoiding debt, cutting costs and regularly putting money away in intervals for investments The stock market has plenty of opportunities to earnI was able to grow to 7 figures on a diverse portfolio strategy spread across bluechips, top etfs and coins my broker James Fletcher Brennan, handles all my investments and ensures I stay above the market
Comment from : Meredith Elbert

I just nod my head in agreement this whole podcast
Comment from : Sailus54

Was in Step 2 brGot knocked back to Step 1 in February had to take on some debt I'm building up a 10-12 month emergency fund now Live and learn brCome May our income will be almost doubling and we are going to start saving and investing 50 as soon as any remaining debt is gone br2 more years and we expect to increase our income another 40 and will target saving 80 brOur goal is hitting $1 million invested in the next 5-7 years
Comment from : GetInTheSpace

What if your best friend or neighbor listened to your podcast?
Comment from : Architect1088

I go to food bank’s! They’re great cause they’re usually NOT income based so they’re a wonderful way to save money on my grocery bill found There’s a tip more people in the process of attempting to build their wealth should check out this American platform “institution”
Comment from : catips

Aww Brian is listening 😊brYeah, I don't necessarily want to retire early but I want to have the option to do so 😄
Comment from : Ayanna Fit

Thank you for making this whole subject so easy to digest and understand I’m 34, trying to get my act together I look forward to watching your videos as I progress toward abundance ❤
Comment from : Megan Keller

11:28 Brian, I agree that saving in fiat is a fool's errand However, saving in silver and gold (ie real money) is safe and effective
Comment from : Kratos Tomatoes

A credit card for emergencies 😐…just make a bigger emergency fund…6 months of expenses and you won’t need a credit card for emergencies
Comment from : Bryan Dawson Brown

Hey I like your videos and literally became hopeful after watching youtube, I move from an average lifestyle to earning over 6000$ in cryptocurrency every week, I invested through Adelina Luna Alba's guide, her investment strategy is a top notch she made multiple of my start up capital every week
Comment from : Gervasio Larenzo

Scrimp and save for 50 years while putting your money in the hands of Wall Street? LMAO The S&P 500 was DOWN 20 in 2022 Read the book Millionaire Fastlane by MJ DeMarco That blows the doors off
Comment from : CD B

Thanks guys—great steps you’ve articulated for people A question on the 5th stage of abundance—why only at the end and not integrated in every step? This is a state of mind and purpose you say Shouldn’t this be in every step?
Comment from : Tim Martin

I’m saving and investing around 70 percent of my income in the financial market(high yield etfs, stocks etc) pretty much how I made my first million although with an FA I have a high paying engineering job, and I live upstate NYC my expenses are low I have zero debt, low rent and car paid off So i can just save feel lucky at this point I'm actually grateful for Susan Kay Mack handling my portfolio, she's the only person i know that's richer than me hahah!!!
Comment from : Robert Thurmond

Made seven figures this year with a six figure startup If I had the knowledge I have now years ago, I’d have done things differently Passive income is a better option
Comment from : Mario Celestino

just started by setting up an automatic transfer of 25 of my gross income into a different account will adjust as income adjusts thanks for making finance advice actionable
Comment from : Ethan Baird

We've been stuck at 18 savings for a while Last year we got major raises and I was hoping to bump the savings percentage up With no increase in standard of living we were only able to put another percent in savings Something has to be done about inflation, I can't imagine how I'd feel if we didn't get raises I would've had to reduce savings or standard of living
Comment from : Stephen Duda

What is today’s livestream topic?
Comment from : Barry Dietsch

I hate the 25 rate the recommended I recommended saving as much as humanly possible I am at around 50 of my income after taxes right now and ever single raise or promotion I get 100 goes into my retirement My wife and I make about 150,000 combined and we are trying put at a minimum of 50k a year but shooting for even higher We max both our roth 401ks and roth IRAs and will continue to increase our retirement savings as we get raises I never even plan to retire I will continue to max out my accounts well into my 60s, 70s, 80s, 90s, and even 100 if I am still alive 88 times over for every dollar invested sound good but 4000 times over sounds even better With my strategy I could very well be a billionaire in my lifetime
Comment from : Tidus

: )
Comment from : Bacciagalupe

I can’t! I am working during the live video times But i make sure to watch the saved ones a give thumbs up 😁👍🏽
Comment from : Andiclemenza

Thank you
Comment from : Marshall Hosel

This video was so good… Very simplistic!!!brThanks Guys brI’ll be sharing !!’🎉
Comment from : Graceland Enterprises

I would be retiring or working less in 5 years and I just want to know best how people split their pay, how much of it goes into savings, spendings or investments I earn around $165K per year but nothing to show for it yet
Comment from : Castle Rock

firmly fit in security phase! looking forward to reaching freedom phase, gotta focus on doing what I was doing
Comment from : A0047

Just found your channel Will be binging your videos, great stuff!
Comment from : Jack Rutland

This show was so well done and the description of the abundance level, the last level, really hits home I’m early in retirement and I’m still working on wrapping my mind around allocating my resources to help others, but I know that step is essential on the journey to developing real purpose in life
Comment from : Gregory Hall

I like how easily these guys just brush off the 40 of the population struggling to survive That's a huge number of people and abnormal
Comment from : Laz RS

I like the new angelic sound when the order of operations deliverable is mentioned
Comment from : Vaughn Helmer

Having watched them for years now, the content is very very repetitive and is kinda boring Other channels are offering in depth financial advices No wonder the subscribers aren't increasing at a rapid pace Never the less, helpful for people watching for the first time
Comment from : niranjan reddy

Incredibly insightful Thank you!
Comment from : Marie

Success seems to be connected with actionbrsuccessful people keep moving They makebrmistake,but they don't quit The stock market hasbrplenty of opportunities to earn a decent payouts, withbrthe right skills and proper understanding of how thebrmarket works
Comment from : Cecilia Cisneros

Does anyone know if they consider company match within the recommended 20-25 savings rate?
Comment from : Tanner Mac

I have made a lot of money in the past few years, in fact passive income is no longer an issue, the huge problem is how i loose this money from foolish diversification, this January I have already blown my account of a million dollars investing wrongly, last year i lost a total of six million dollars from very bad diversification, I believe i will loose all my wealth and not be able to build anything from my passive income,,, I need serious help immediately I cant continue like thisreally needed to voice this out here
Comment from : Mollee Spillett

3 questions you told us to ask ourselves br1 Who are you?br2 What do you value?br3 Who are your friends?brbrGreat questions to reflect upon and encourage changes if necessary
Comment from : Christopher Bell

Thank you so much! Could/should a net worth range be associated with each level?
Comment from : Shawn Patton

2 men were talking One multi millionaire and the other simply satisfied with his income and life in general The multi millionaire was bragging to the other man that he had everything he ever wanted! The simple man replied, “I have something you don’t have” The multi millionaire quickly asked him what could that possibly be? His response was simple, “ENOUGH!”
Comment from : P A

^^Money is a theme that everyone has for a better and luxurious life life was hard for me until i started bitcoin and now i am earning $9500 a week
Comment from : Anderson Kate

I've been steadily learning about investing and retirement I now have a plan for the next 15 years It's an aggressive plan so I had to make sure that my wife was onboard A part of this 15 year plan is paying off our mortgage The reason for paying it off sooner than later is because we plan to relocate, and doing so now (was being considered) when prices and interest rates are high would be terriblebrbrThat said, make sure everyone agrees to any plans you make Disagreements can derail the best laid plan, so be strategic In my case it was like an episode of Shark Tank I had my talking points and had to sell it to my wife I had to build in some amount of slack It's like starting a new diet and workout plan You have a better chance of success when you include some cheat meals
Comment from : Jermaine Stewart

With regard to savings rate in strategy phase 2- having a budget and making saving/investing a priority help but found the limited acknowledgment of how record high inflation rate during the year and how it impacted budgets, savings and financial goals glossed over Considering how aspects of inflation were redefined from other record high times decades ago and how the overall rates (higher than reported based on new definition) impacted household budgets in certain income areas lacking It seemed like a missed opportunity to have a short but teachable dive in related topics
Comment from : S J

Great episode, everyone!
Comment from : 15MinuteWorkOut

I miss annual pay raises (Doctor, homeowner with kids working public health for PSLF so shifting jobs is impractical)
Comment from : Weekend Garager

Seems like the proper title for this video is actually:brbr“5 levels of Financial Maturity”brbrExpected it to be all about how rich you are compared to others It’s much, much better and more useful than that!brbrExcellent advice - I’m sharing it with our four adult kids!
Comment from : M 22

So for the 4 person family (2 adults 2 kids), since both adults would carry a card, that puts the family debt at (6500 x 2) $13k at one point in my journey I was well (4:1) above average not the award I want to win FOO works do this
Comment from : Blair

I would challenge you to rethink Abundance as the 5th stage as only achievable after accumulating mass amounts of Wealth Knowing who you are, what you value and what you stand for is necessary to start the journey…not end it
Comment from : Jeremy Pfahl

I’m broke as a joke, any tips?
Comment from : William Forsythe

My auto loans are at 000 and 19 Paying off the 19 ASAP
Comment from : Frank T

@40 and sitting at Security stage Feels good Until @50 meticulously planning to reach Freedom stage and @ 55 - retire with Abundance and CTFO 😎 That's was my plan all along and while reaching 55 definitely not living on Rice and Beans crap Going to build memories as I move along too Started with 0 @17 so yes peeps possible let's go 💪
Comment from : AT

Master class ✅
Comment from : Te Kooti Anderson

I have been watching/listening to the money guys for awhile and I understand the why and what to do What I don't understand is why is it so difficult to find out the how I've just started making major steps to changing our finances but I find it extremely difficult to manage a spreadsheet for two incomes, gross income savings on bi weekly pay cycles where they each get paid on different weeks and the bills all come out throughout the month I just haven't yet found a good resource that lays it all simply enough while still maintains a high level of accuracy and an automated way to follow
Comment from : Devyn Middlebrook

Great content, thank you One thing that struck me was about how your parents saved vs in-laws My husband was very focused on having some money in “safe” savings after watching his older siblings loose a bunch during two big market downturns (80’s and 2000’s) so he made a choice to buy savings bonds in addition to investing Now that he is retired with a good pension the $1000 bonds (he redeems one per month, most of the time, sometimes he doesn’t because we still have cash from the previous bond) provide extra spending money for us that will last until we reach social security retirement and we won’t “need” to access retirement savings for living expenses Sure we could have earned more but his peace of mind was protected and we are enjoying the benefits
Comment from : Valorie

Can we get timestamps please? They really help when watching with limited time
Comment from : Crypto Facts

Did you guys wear the same thing lmao??
Comment from : The Badknews

This was a great episode Thank you!
Comment from : Christina Le

I need some feedback I was able to get an emergency fund of 3 months already build However at the same time, I accumulated credit card debt as sometimes missing liquidity Not sure if on these uncertain times I should use none, part or all of the emergency fund to pay credit card debt Any feedback??
Comment from : Ezequiel Narvaez

I’m a big fan and have been watching for years, but the videos are becoming unwatchable It’s the same videos over and over! You’re both highly intelligent and can offer so much more Why not use Bo’s knowledge and analytical skills acquired from his CFA education to explain the differences in hypothetical returns from factor investing or different asset classes? I’m sure Brian could break down the deep tax advantages of ETFs in taxable accounts Something along those lines would get the viewers brains working and would be a fresh change!
Comment from : Tom Donovan

Hi money guys,if possible would you guys please discuss SMAs and how beneficial they are in terms of tax loss harvesting Thank you for all that the money guy team does!
Comment from : hisayoshi

This episode is a great add-on to the FOO for gauging how far along you are in the wealth building process It's nice to know ways I am doing good and other ways I need to improve Awesome!brbrAs a suggestion though, please add chapter markings in the video so we can easily move between the sections
Comment from : Nosjack202 202

22 years old and at the beginning of level 2
Comment from : Lonzo

side hustle culture is toxic people on social media loves to fantasize side hustles as being easy extra income It takes up your time with family and friends, it takes a toll on your health, it's a burden so before taking on a side hustle, m,ake sure you know what you're getting into It's not all that easy nor great You're better off saving and living below your means and investing slowly
Comment from : xmochi x

Go Dawgs, fellow dawgs
Comment from : ak

A level of wealth is if you loose your job You don't need to go into panic mode
Comment from : Ken John

Great videobrBig fanbrI am asking people to visit your site
Comment from : Dipak Nadkarni

my savings is 415
Comment from : Jennifer Moffitt

Great content, seriously great One bit of feedback Ya'll know the material so well that you mow through everything very quickly here It would be helpful to take a break or two for some banter, or just anything a bit slower for a minute so that it's easier to digest everything Go compare the 2022 5 levels video to this one and you'll see what I'm talking about
Comment from : DietBajaBlast

Just to clarify, what you described as abundance is not a stage you reach at the end of your journey It’s a constant life long re-evaluation of yourself so that you can live a joyful, purposeful life no matter your level of material wealth
Comment from : Fingerz 1

may want to be careful talking about a pyramid 😂
Comment from : Chris C

This was a fantastic episode!
Comment from : Andrew Ojeda

Automating everything was the trick for me It's the only way I could save and cover bills without constant stress
Comment from : A Muse In the craftroom