Comments by "bin4ry_d3struct0r" (@bin4ry_d3struct0r) on "Vincent Chan" channel.

  1. I knew that the super rich get paid (or pay themselves) in stocks, but I absolutely did not know they then took out low-interest bank loans with those stocks put up as collateral. It makes perfect sense. How else would they be able to live off of $1 a year? Learned something today!
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  2. Okay, I definitely learned a lot from this video. I had no idea so many unemployed people are not counted toward the unemployment rate.
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  3. Here's a list of life-saving steps on avoiding getting divorced: Step 1. Never get married! Step 2.
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  4. This video answers an important question (ironically involving opportunity cost): do you set up the emergency fund first or pay off debt or start investing? If you don't make a lot of money, it's hard to do more than one at a time. The problem with the sequence presented here is some people have so much debt, they'll never be able to start investing.
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  5. Would you be comfortable investing in the S&P or NASDAQ this year? Both of these indexes are heavily tech-laden, and tech companies tend to do very poorly during times of high inflation and low interest rates. On the other hand, if you're planning to invest long-term, then 2022 would be a good year to buy the dip. I am very conflicted about what to do with my portfolio this year.
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  6. If you're going to save money, put it away in a high-interest savings account instead of just leaving it in a checking account. Remember, though, if the interest rate is lower than the inflation rate (like how it is right now), you're money is still losing purchasing power.
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  7. I like how each of these videos now ends with how the subject matter just discussed should be the least of our worries because the topic in some other video is a much bigger problem.
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  8. If you're going to buy in bulk, buy non-perishables that you will eventually use (e.g., soap, tissue paper, toothpaste, etc.). Do not buy consumables you cannot consume before the expiration date.
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  9. The US can push around smaller countries with sanctions and war. However, China manufactures everything Americans own and Russia has almost limitless commodities. They are a different playing field than Central America and the Middle East. All the sanctions will do is drive countries toward ditching the USD as the global reserve currency.
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  10. My budgeting Excel spreadsheet is quite simple and is updated once a month. The columns are just: Date | Savings | Investments | Total I don't pay too much attention to how my net worth tracks on a monthly period, but over the course of the long run, it should go up. If it doesn't, something's wrong.
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  11. If you work 80 hours a week and can still find free time to work on a side hustle ... goddamn! 👍
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  12. Didn't Zuck steal the idea for FB from the Winklevoss twins?
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  13.  @VincentChan  You're definitely right that I'm one of these people who keeps beefing up on education but rarely put any of it to use. I've been learning how to code an AI trading bot, and soon I really hope to deploy it on the platform of an actual brokerage even if it's just for backtesting.
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  14. Do you think your improved video editing skills are more responsible for this channel's success or is it the content you provide? For me, at least, the content is the cake, whereas the editing is just the icing. I wouldn't be surprised if your channel turned out to be just as successful even without the extra bells and whistles.
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  15. I promise you it's not just Asians. Asians did not come up with the phrase of keeping up with the Joneses.
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  16.  @walnutinvesting689  I completely forgot about dividends too because I automatically reinvest mine, but yeah people do actually live off of them.
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  17. I now have permission from Vincent to not fret over renting, treating myself to cheap luxuries and not DIY-ing it. I'm already having a better day.
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  18. Here's a even more concise and surprisingly accurate description of NFTs (credit not mine): Imagine you have a wife that literally anyone and everyone can fuck, and there's nothing you can do about it. However, you have a certificate that states she's legally married to you. That marriage certificate is the NFT.
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  19. If you DCA every month into say the S&P, but it costs you $10 per transaction, would it be a good idea to reduce the frequency to every other month?
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  20. I've reached my savings goal, which was to save a year's worth of expenses in a market account to serve as my rainy day fund in case I lose my job and can't find another. Now, every dime I don't spend goes into various investment vehicles, which I treat as my retirement fund. Any more money saved, even in a market account, will just get eaten away by inflation.
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  21.  @joaquimrodriguez8961  It's not the prenup. It's the lawyers and the family court judge. There are plenty of divorcees who got screwed over even with a prenup.
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  22. Fellow INTJ here. Best financial advice: never get married, never have kids! You're welcome!
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  23. 2:30 - Flex, king!
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  24. I discovered Udemy around the time of the lockdown in 2020. Today, I've taken over 30 courses on that platform. The skills I developed helped me make a lateral transition into a much more marketable career. The ubiquity of the Internet and the democratization of knowledge can help you become un-unemployable if you know how to use them!
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  25. Jimmy O. Yang's dad: "Following your dreams is how you wind up homeless."
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  26.  @VincentChan  I learned a thing or two, which is always great. What I would've liked to see in addition is you addressing current obstacles to Xi's plans and progress. The Chinese economy is in a rough spot right now with the Evergrande default and the zero COVID policy, but it's obvious you already did a ton of research on what you presented.
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  27.  @ojames1983  Good point!
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  28. 15:10 - This is the first time I've seen a supply/demand graph in which supply and demand are placed along the same axis. However the graph is drawn, the interpretation should be: - When supply decreases and demand remains constant, price goes up. - When supply increases and demand remains constant, price goes down.
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  29. BMW is a definite contender for GOTY đŸ”đŸ‘‘
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  30. You got a link to that financial freedom course you mentioned?
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  31. I worked at call centers for three years, during which I started and finished a Masters degree. It was a very stressful period in my life, and it felt like working two full-time jobs at times. Use whatever time you can spare to develop a new skill set relevant to the career you want until you're ready to transition. That, marrying rich or playing the lottery are the only things you can do to improve your lot.
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  32. So that's what AOM in full screen mode on a huge ass monitor looks like, eh?
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  33.  @hoopandhands3328  Alrighty, let's say you really lucked out and got both: 1) a great lawyer who drew up an ironclad prenup for you; and 2) a friendly family court judge who rules in your favor (i.e., the judge looks at your prenup and agrees it's indeed ironclad). Congratulations! However, the 3 years it's gonna take for the judge to come to that conclusion is still going to cost you 3 years of your life you'll spend in limbo and $100k in legal fees. Option 2: Just avoid the damn marriage racket in the first place and save yourself from all that noise.
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  34. I make 6 figures in a role that was once my dream job in college, and it took me 6 years of working in jobs I hated to get here. I know better than anyone that it in fact could always be worse. With that said, I've lost my passion for my work and would love to take the entrepreneurial route. The problem is what I want to do cannot be done alone. I'd need a team of talented people who'd believe in what I'm trying to accomplish, which is not an easy sell.
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  35. It's interesting how, in the same video, you claim to be lazy and also that being an entrepreneur requires a lot more self-driven work and dedication than you'd need at a "regular" job.
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  36. That's a nice monitor stand!
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  37. Which brand of green tea do you drink, Vincent?
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  38.  @VincentChan  I'm currently drinking a brand called Jade Leaf I found on Amazon. It's my first brand, so I have nothing else to which to compare, but I don't dislike it.
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  39. That is a fantastic insight about using dollar cost averaging during a downturn. I usually do lump sum investing at the beginning of each year and still might for my ETFs (because each trade costs money). For my index funds (S&P, NASDAQ) this year, I'll definitely do DCA.
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  40. Maybe the Great Relocation will drop the real estate value of the Bay Area to something below $4,000/mo for a 1-bdrm apartment. P.S. I really miss McCain's curly fries.
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  41. I dedicated a very small, very tiny proportion of my portfolio to energy commodities in 2023. Mistaaaaaaaaaaaaaaake!
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  42.  @the1337fleet  I actually did not know brokerage platforms with $0 transactions fees existed. I mean, I thought that's how they all made their money. I got some shopping around to do.
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  43.  @the1337fleet  I'm only investing through my bank at the moment. I've been looking into WealthSimple, Tangerine and a few others but not particularly leaning toward any yet.
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  44.  @the1337fleet  Thanks for the recommendation. My current portfolio (at my bank) includes Vanguard ETFs. Every time I make a transaction, though, my bank charges fees, so I'm only doing lump sum investing on those ETFs right now instead of DCA. I'll definitely shop around.
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  45. I was using Proactiv back in the 90s before Proactiv was well-known. It worked miracles.
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  46. At least your parents didn't expect you to graduate from SNU, Business, at the top of your class.
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  47. Let me guess: the US will threaten to carpet bomb whichever country that will move to abandon the dollar as the global reserve currency.
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