Comments by "Muizz" (@muizzy) on "How To Retire A Millionaire" video.

  1. The best financial choice is to sell the moment you get it and diversify, e.g. throw it in a S&P500 fund.
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  2. For people on a less exuberant income, the well established rule of thumbs are: * Save 15% of your take home pay * Your house payment should not be more than 25% of your income, your fixed costs should not be more than 50% * Don't let personal spending exceed 25% These are guidelines. They can be played around with. In the current economy 15/75/10 is not uncommon. Try to keep the 15% minimum, though. And always take your employer's retirement match.
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  3. They tend to be safer investments; but more importantly they have significant tax benefits and your employer often matches investments made into them. No strategy will beat a 100% return on the first day.
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  4. I've met millionaires who have kids and never had a household income above 60k. The book "The Millionaire Next Door" is a great read that goes into the details of who the wealthy people in the US actually are. The results are surprising to most.
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