Investing Will not Make You Wealthy (Most likely)

SEC Warning Hyperlink:

Additionally two factors to make clear:
1) By “wealthy,” I imply the extreme disposable earnings promised by the funding advertisements I’ve seen (quick automobiles, non-public jets, and so forth.).
2) I do not disagree that investments are very important to rising your wealth (I do run an funding channel, in spite of everything), and you can also make you some huge cash investing WHEN it is mixed with a powerful financial savings program. The purpose is to focus on that investments ALONE can’t make you wealthy (i.e. you possibly can’t put apart a number of thousand {dollars} and count on to hit 1,000,000 in a number of years).

DISCLAIMER:
This channel is for training functions solely and isn’t affiliated with any monetary establishment. Richard Coffin isn’t registered to offer funding recommendation and as such doesn’t present suggestions on The Plain Bagel – these searching for funding recommendation ought to search out a registered skilled. Richard isn’t chargeable for funding actions taken by viewers.

ALSO DISCLAIMER:
Richard isn’t commenting on the validity or inherent worth of the cited advertisements.

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50 COMMENTS

  1. Hey everyone, three points I want to clarify:
    1) by “rich,” I am referring to the excessive disposable income flaunted in the trading advertisements (i.e. fast cars, private jets, etc.). I do believe long term (with the help of compounding) you can make a lot of money investing, hence my specification of “investments won’t make you rich, probably…at least not in the short-term.”
    2) Regarding the wealth survey, I should have highlighted that these people got to where they are by saving AND investing. The point I was trying to highlight was that they didn’t get there by investing ALONE (i.e. like the example, where you invest 10K once and never again) but rather used disciplined savings to fuel their investment returns.
    3) I believe investments are VITAL and that over time they can earn you a lot of money when combined with a strong savings program. Sorry if the video came off as anti-investment; I promise you that it is not.

    Sorry for any confusion, one of the problems with making an unscripted video!

  2. Self-aware. Honest. Rational.
    Well played, Richard.
    Most of your viewers will sell low, like most gamblers do.
    “Know thyself” – a good start.

  3. Thank you. I needed to hear this.
    I am indeed sad at the end of this video, but i feel more sober minded. I appreciate it.

  4. “Investments won’t make you rich” bro I’m just trying to get to 55 with no debt and having my investments making enough for me to live on so I can retire maybe I move to Thailand or something cause it’s cheap. I don’t need a Lamborghini I drive a 2006 Chevy cobalt and I really like it. Maybe I’ll get a used truck in 4 or 5 yrs. when I force myself to get rid of this one. Idk I haven’t had a truck in awhile maybe I will?

  5. That aproach only shows how a traditional investment doesnt make you rich. But if you learn how to invest more agresively and you take this thing seriously you can earn thousands of dollars even if you live in MEXICO. ( my personal experience) If you diversify you only are saving for beating inflation. Not for win big. An example is TESLA STOCK since 2019. The vision of the company was clear and they where making so great progress on the goals but traditional investors only watch and analize DATA of the past, they didnt face up to the future. I bought just a bunch of tesla at 183 USD and convert those in a thousands 😀

  6. I had a decent portfolio a few years ago and decided to do something riskier, mostly for fun.

    I got a small investment (a third of what i’d normally get in a company) in a small biotech firm developing a drug. I chose it out of a list of 4 small firms.

    6months later it was delisted. Of the four, one was up 1000%, one was up 160% and one was up 10%.

    Now when i go for something riskier, I split the money between all 4 options, i have learned my lesson.

  7. Good video! Great explanation and very realistic view. I had often wondered about all “promises” out there and concluded if it’s too good to be true then it is. But your analytical perspective made a lot of sense. Cheers!

  8. To make big money you gotta have big money. Small investors, we should aspire to make a little support for our income. thats my take on investing with low budget. Try to make a little extra over the years instead of leaving in it on the bank or spending it in crap.

  9. If you want any credibility, switch to more expensive furniture brand. And get some Monet originals on background…

  10. this video is stupid.. if you know how to invest in the stock market you can triple ur money in less than a year.. and also in crypto. so yeah if u you know what u doing you get rich if you start young is the better.

  11. Investing may not make you rich, but 99% of the time it will make you wealthier. And for the majority of us, it’s the only vehicle available to gain passive wealth

  12. Hi dick, just wanna let you know some people are making money and or getting rich (not overnight) but i know everyone wants to be a youtube superstar.

  13. Time 8:31 “People holding on to Bitcoin, hoping it will one day raise again” March 10 2021 Bitcoin price: $54000 haha

  14. The anchoring ppl are now laughing in Bitcoin all-time-high. HODL and never sell below what you payed. Just hold. Never panic sell. If anything, buy some extra in the dip. But also never invest in anything you don’t believe in. So that’s only for companies you are very sure have a long term future. That’s what Warren always did. Check if a company has a product/idea that looks like a good idea and then invest in them, ignore the panic when people sell and just hold. Warren believed in Coca Cola. He sold Coca Cola when he was 6 and saw that people enjoyed the taste. So if you think a product in itself is good and you feel it has a good future ahead.

  15. At a 140% return my first year. Off to a good start. Working 2 jobs, and reading the best investment books I can get my hands on 🙂 I’m ready for my stock journey.
    Ps: I’m also putting 15% of my monthly income into portfolio and putting 7% ( I’m still young) into my 401k. I plan on raising my 401k 1% every year until the 15% max.

  16. People need to understand investments for what it is. It’s a extra passive income. You buy stocks for the dividend. The ability to get paid in your sleep. You won’t probably get rich of course, but it is extra money if you take the time to research good companies at the right time. Good video.

  17. Also, with all respect to some youtubers , most of them made more money from youtube and selling courses than investing or real estate or any other activity.. They became wealthy by telling others how to become wealthy.. For example Graham, Kevin, Jeremy and Andrei – great content creators – but they made more money from youtube.. following only their investment advice will not replicate their success.

  18. World 90% population under Common title, 5% wealthy and 5% Rich and these facts/figures will remain same , but how can you come in these it’s depends on mind and your idea and risk factor,

  19. This video makes a lot of sense but how are we to trust your word if you don’t even have one lamborghini?

  20. The guy is probably right. I invested maybe 5k dollars into the stock market, but that were my life savings of a college student. I am still not working. Still my plan is to add money to the stock market every time I get my paycheck.

  21. Shitty video. I really hate it. The wealth divide in our country is because of short-sighted views of investments which you have and spread to others. That’s not what investing is and then to turn around and tell people it doesn’t work so don’t count on investing to build your wealth is nonsense. Investing is the *only* way to build wealth. Misguiding people like this is a waste of life you are talking to hear your own dumbass voice.

  22. WOW love this video! Seriously, thanks for doing! I’m so bored of all those hype boosted moon boys videos! Your channel is so refreshing. thanks!

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