How To Manage Your Money Like The 1%
Video Overview & Insights
Here's how to manage your money like the 1%: the 75/10/15 Rule will allow you to build wealth regardless of how much you earn.
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Most people think rich people became wealthy because they earned huge salaries. Not always true. Many became wealthy because they mastered allocation, consistency, and compounding. Income matters, but how you structure money matters even more. Harvenco has some sharp insights on this.
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That’s good advice. Thank you for share
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This advice was irrelevant two years ago and it’s irrelevant now there is no saving if you don’t make at least 100k……. let’s 65K. rent is over $1000 in the United States unless you wanna stay in an absolute slump
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Woah...that is some effort 👍
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Bruh as if saving 5 months of expenses is easy it’s a struggle by itself
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Lol. That's still pretty terrible.
I do 50 / 40 / 10.
50% Savings
40% Needs (rent, food, services)
10% Whatever I want
It's as simple as that.
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⌚️Timestamps:
00:00 How The 1% Manage Their Money
Under the SECURE 2.0 Act, you can roll over up to $35,000 of unused 529 funds into a Roth IRA for the beneficiary (yourself). The 529 account must have been open for at least 15 years, and the specific funds being moved must have been in the account for over 5 years.
00:16 The 75 in the 75/10/15 Rule
02:35 The 10 in the 75/10/15 Rule
nice video
05:27 The 15 in the 75/10/15 Rule
06:51 The 2 Accounts To Start With
“Super helpful!”
10:10 But What Should YOU Invest In?
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“You nailed it!”
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All opinions expressed by Vincent Chan are solely Vincent Chan’s opinions. You should not treat any opinion expressed by Vincent Chan as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Vincent Chan’s opinions are based upon information he considers reliable, but does not warrant its completeness or accuracy, and it should not be relied upon as such. Vincent Chan is not under any obligation to update or correct any information provided. Vincent Chan’s statements and opinions are subject to change without notice.
you ripped this off from dividendgamer's blog
Past performance is not indicative of future results. Vincent Chan does not guarantee any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment discussed. Strategies or investments discussed may fluctuate in price or value. Investors may get back less than invested. Investments or strategies mentioned may not be suitable for you. This material does not take into account your particular investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. You must make an independent decision regarding investments or strategies mentioned. Before acting on information, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.
i need to get serious about tracking my money like this
More User Perspectives
75% to buy things? Or like 75% is to essentials and bills 10 for saving 15 for debt
@ohzdesSono un creator da anni e mai avevo visto una crescita così rapida e sostenibile. Crescitaly ha capito esattamente di cosa avevo bisogno e ha consegnato risultati ben oltre le mie aspettative.
@Crescitaly_comThank you
@paycheckexitThis is really helpful, thank you!🙏
@FinrisebyTigistuYou lost me at pineapple pizza lmao
@stephendouglas7502Watching these videos making me want to get started asap with investing but I really want to focus on building my emergency fund first ! So imma have to stop watching these for now 😩
@QueenSagChrissyEvery 'I'm 19 and financially free' ad vanished the moment I installed Blockify. Worth it.
@lipsmackin3826I always like your great knowledge you give to us
And I also want to encourage you to always make such kind of videos
I was ready to give up, but then this video said "not today."
@AdéliaNhantumboThis video deserves a global holiday in its honor.
@AdéliaNhantumboI felt like a detective solving a case. Victory.
@AdéliaNhantumboPremium gas is worth it for your car in the long run. The difference between having a ride for 10yrs and 40yrs
@airbound1779Thank you for this learning opportunity
@Kingdomheartsstoryteller-nj3hxNo it's 40 % not 25%
Forget the stupid 6 month expenses rule ,you invest 40% stock, 25% in bonds, 30% in commercial real estate 5% in alternatives ( wine ,art , startups )
Take up the profits from your stock when it goes over the 40% divert the money to bonds or buying real estate point is you stick to 40/25/30/ 5 it must always be that ratio, your wealth will grow 8 - 10 % a year ( gross) 100% guaranteed i did it and ad age 50 i got a net worth of 6.8 million dollars it took 30 years to get to this point, but i take out 100k a year and pay 0% tax( federal) not a worry, no fancy car ( i drive a beige volvo from 2002 with 187000 miles on the clock, my house 522.000 dollars pay in ful , 3 bedroom 2 bathroom, no debt currently in Bordeaux France, inspecting a apparent block to invest in ( my first project abroad) i quite working for a boss 7 year ago so i " retired "at age 43 .following a old Japanese system of creating wealth no fraud, no backdoor deals just boring old mathematics, and math never fails ...
Thank you sir Vicent
@Moneytime88A M E R I C A N. Clickbait, as this is an american only video. Useless worldwide.
@NemacaStep 1: have 1% levels of money
@SprDrumio642:05 who the heck buys a cheese dispenser for household use?
@KJSCalderonThis was better than Netflix today.
@hintetgipokyjhfg9735Amazing job, keep it up.
@lim-c5iVOO 100%
@mlawiltj923rThis is great. The 1% mindset 🎉
@PersonalfinancemumI can't even find the time to study how to invest with a 9 to 6 job without giving up on things i like such as playing videogames...
@Superdazzu2Expenses: Rent & pineapple pizza ✅😂
@naedavis7795When i went back to finish high school they had a mandatory financial literacy class.
@keviny12Masterpiece.
@EatonmadocDacyAt around 12:10 you mentioned if the index funds you chose are not available in your 401k, that we can just look for other types of index funds to onvest in. Now I know you mentioned that with your Roth IRA you have to actually invest that money in assessts to get returns, so is it the same with your 401k? If yes, do most companies offer a portal where you can check your accumulated 401k money and invest it or how does this work?
@gustavogarcia3155Loved the transitions.
@DIanaCaruz-x9eThis is going straight to my favorites.
@lucasbarreto-g1cDidn’t have car insurance for that accident? 🤔
@abrahamortiz2759The reality is housing and car will already suck up more than 70% of your income
@ryanweng2359Interesting 🤔! Thank you for sharing!
@ashleighcampbell1664Firee
@NinjaMoneyFinance3 months ago I was broke, anxious, and completely lost. My friend sent me Manifest and Receive by Eva Hartley and I read it in one sitting. Not even kidding, my whole energy shifted. I stopped chasing and started receiving. New clients, better sleep, confidence back. people don’t sleep on this. 😭✨
@HiraSingh-go6ktCrazy how something as simple as a high-yield savings account can quietly build wealth in the background—this is the kind of low-effort, smart money move the 1% swear by. Loved the breakdown! 💰🔥
@TheNetEmpire