Comments by "donaldlyons17" (@donaldlyons17) on "The Plain Bagel" channel.

  1. I think you understand the idea of having the basics is best because almost everything cost!!!!
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  2.  @Dr.JubairsFinance  No I never blame people for where they are in a lifetime because it talk luck and the right conditions amongst other factors to end up well off.
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  3.  @JohnJernigan770  no that would cost money from bad luck
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  4.  @montezuma6962  What how do you think that makes sense? Remember part of the issue is that income had to outpace expenses which is less frequent now due to higher housing costs and overall inflation.
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  5. I wish almost everybody understands what you just wrote because every person I know with net worth valued at 1,000,000 are at least one of exactly what you described: "highly skilled that is in demand, producing a product that everyone needs that solves a problem that hasn't been solved, ripping off people who are oblivious and being in the right place in the right time (aka being lucky)". I would also like to add business owners and high level executives (presidents of institutions) if you have not already mentioned them.
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  6. What that makes no sense since each person is different….
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  7.  @crossfirehunter3652  Dude you are so right for most it could not have been possible. So many of the older generation do not have 1 million in assets outside their primary residence for the possibility to have even existed!!!
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  8. Median numbers are about 87K for everyone across all ages with retirement savings!!!! The majority of people will never reach 300K in retirement savings in my opinion!!!
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  9. I think he is trying to caution people not to say we can't nor should try to do it. However he is building wealth on YouTube and the reality is the majority of people on the platform will not build much wealth on it. People like him are the exception which he is trying to explain an exception is not the rule!!!!!
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  10.  @bill_the_butcher  yeah I think he said it was like a part time job
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  11. Another issue is taxes too.... I always assume 50% (B/C of Europe) so again that plus any fees is a thing too!!
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  12.  @clownanaround7996  you are not making it work without having the right conditions. 1k takes 7 to 10 years to become 2k so no your deposit amount raise over time or someone else bought what you bought cheap for multiples more than you paid.
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  13. No your being realistic and honest. The previous generation suggest many without great paying jobs (average and above average incomes) will not be able to fire even if they want to. Median net worth for 50-60 year olds is like 300K so it is not likely their kids will be averaging 1 million if their parents did not now is it?
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  14. Or the get a high paying job but your are totally right!!!
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  15. More complex than that. I meet a lady that was approaching 60 saving only 1K each year and having to depend on S.S. and an pension in retirement.
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  16.  @REgamesplayer  Yeah but problem is that saving alone only work if you have enough income and so many do not have great incomes conspired to their expenses!!! It is far easier to run out of money than to find a way to always have money and never run out.
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  17. Some of them do tell their followers that making a course and selling it to others is the fastest way they know to build wealth. Rayan S told us to make a channel (finance stuff) and sell people courses (b/c it made him 1Ka day and 200K by that point). Another lady Erica (she black and talks all the time but I think she is trying to be helpful) mentioned making a course and selling to for 100$ to 4,000 people (400K once complete.) And lastly Savage Finance said that customer service that tries to solve other people problems (a course, mentorship, in person real life business) is the best way he knows to make a lot of money. Not trying to be long winded but there are people trying to tell their followers the truth. Problem is for some of us the other factors will not align but all we can do it try!!!
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  18. How many of us create or are involved with something paying us after we don't do anything more?
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  19. Yeah they should account for that type of stuff!!!
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  20. They literally can not go broke but even if they could almost no government would allow it!!!
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  21. Thry are exceptions not the majority!!!! Those course sellers don't say most of you will never do well but a few will do just fine....
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  22.  @weksauce  Well no their is a sang: more than one way to skin a cat!!! You do realize that that idea must have come from somewhere right?
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  23. Yep people seem as though they will have to choose to go without stuff!!!
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  24. No they do nor see the benefits of working not they don’t want to work
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  25. Even if you only bought the basics fire is still almost impossible. With median incomes of 50K it could easily take 25-30 years to reach 1 million and that assumes 8% return on average!!!
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  26.  @zachb1706  Yeah but for a lot of people 1.5K is too much!!!! I know people in the 20-40's who don't even have 100$ each month they don't need!!!
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  27. How are books supposed to make much of a difference?
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  28. Wait you made 56K not you do realize almost 1/3 of the working population does not make that amount right? Obviously you had your priorities but really? But at that income range stuff becomes possible where as in the teens and 20K income range lots of stuff is next to impossible!!!
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  29.  @ProfAzimov  Sounds like you likely looked into it. Usually I guess something is up when a comopany is offering anything over 5% intrest rates..... just seems like it would be an almost impossible sum to come up with even with profitable products....
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  30. You don't think "value" is really just what people are willing to exchange for something at a certain point in time? Like how valuable is anything I have? That is not determined by what others are willing to pay, or exchange for something?
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  31.  @ordinaryhuman5645  How you figure? You may be right but let me tell you about Angrei G one of the finance 4 on YouTube. It took him 8-10 years and multiple promotions, and renters etc to reach his first 100K. And his next took 3 years if I am not mistaken. Assuming he worked the same type of jobs I estimate it would take him 20-24 years in my estimation. If we assume he started at 16 and wanted to get to FI at 1 mill it would take him to almost 40. How many people will have the right factors for something similar to happen for them?
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  32.  @ordinaryhuman5645  Dude I tell everyone I meet that you do not want any job that does not train you for a ok income sooner rather than later. Or better yet you want to be in training for the job or jobs because skilled jobs are normally a better bet for livable incomes. I feel income matters if most people want to retire and remain in expensive parts of the world.
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  33. Yeah numbers do limit probabilities!!! I feel the majority of the entire population just never makes enough extra to fire to begin with!!
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  34. Yeah and that might be part of the issue with some creators… they don’t bother to say maybe you should not listen to what I say since I don’t really know… realizing one does not know is not a bad thing at all..
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  35. Yeah not to sound crazy but likely not. Those people on social media are not being honest about all the luck they had!!!!
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  36. Yeah that is some peoples entire yearly wage!! I can't understand why people ignore the math issue!!
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  37. Yeah but the educated ones are not getting huge views like those trying to be flashy
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  38. 50 is still fast. If the median income is at 50K it takes almost 40 working years at that income to even get to 2 million made.... SO many don't have the excess income to save 100K on average every 5 to 10 years so how can they expect to retire without anywhere close to 500K to 1 million cash?
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  39. It would be cool if some of the get rich quick schemes were real. But for real I would love to join a private group that for a permeant membership fee I could get a refund.
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  40.  @lostconciousness4255  I don't understand why they don't just tell you to no use the advice. If I choose to use it I also choose to loose over time as well. To me a disclaimer is more than enough but many times they don't say it over and over so people know not to do it no matter what. Telling people something is a bad idea and not to do it seems ok but I would rather they just say: "you will 100% loose all your money if you do this."
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  41.  @moonshadow7057  I think he is using a 3rd party service or a international wire transfer from his bank. IDK but my fee to send money from the US to Canada is 3$ normally even using PayPal. But fees can add up pretty quick depending on what, where, when and how it is done.
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  42. Sure that is not just a wording difference?
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  43.  @BronzeLincolns81  Yeah your term seems more accurate to me!!!
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  44. Even if he has 50K the question is how to have money while doing nothing to have more!
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  45. Energy waste will always be a thing IMO so well why does it matter what the energy is wasted on?
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  46. I think normal money is an exchange between two parties so one has money and the other looses. To me difi has a similar way or operating.
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  47.  @nickspeelman9174  Well you right it is a s**t ton of work but when those people come find you with 100's is that really work? But yeah 1K is not a lot extra considering the risk. Problem is that almost doubling your money each year is very possible and there are not a lot of jobs that allow for flips of that magnitude each year. Your quote: (I don't know. In my very limited experience selling drugs, it was a lot more work than they made it sound like in DARE.)
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  48. If you diversify your holdings you can't loose it all in 1 scam anyway!!!
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  49. Nope I say income is the single most important part. One can not budget what they don’t produce!!!
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  50. You know how easy it is to get a good job? I would say it is far easier to have a bad paying job than a good one many of us will like...
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