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Am I the Genius?

People who SAVED ALL of Their MONEY at a Young age instead of Living, was it Worth it?

Am I the Genius?

youtube.com/@amithegenius

Self-improvement, Education

4.7643 Ratings

🗓️ 16 May 2024

⏱️ 23 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

People who saved all of their money at a young age instead of living, and now are 50 plus years old.

0:04.8

How are your lives today? Do you regret your life choices when it comes to the money aspect?

0:09.0

We scrimmed for decades. Our house is paid off. We have one car payment for three more months.

0:14.6

We have no credit card debt. Our retirement savings are ahead of schedule. Next week, we head to Iceland for my 52nd birthday. Totally worth it.

0:22.6

Nobody wants to be 75, sick, and too poor to quit working, no matter how much fun you had as a 20-something.

0:28.3

I did mostly stupid things in my early 20s, but I always put at least 15% of my income into 401k's

0:34.3

with matching benefits. After 24 years living the corporate middle manager cube life,

0:39.0

we had the means to purchase a wholesale nursery, and now I'm a flower farmer. I just walked

0:43.3

through my greenhouse with my dog with a cup of coffee, and I do not regret a penny of savings.

0:48.3

Losing my job as a fairly well-paid engineering manager in the defense industry and having

0:52.3

to sell my house during the housing crash in the early 90s ended up in retrospect being a defining moment in my current financial

0:58.6

well-being. It took roughly six years to get back to anywhere near my former career trajectory

1:03.2

after landing a good position in the cellular industry. Once Brunt twice shy, my wife, a registered

1:08.3

nurse and I bought a home that was about half the price the bank said we qualified for. Our reasoning being, if one of us lost our job, most likely me again,

1:15.6

because nurses, we wouldn't have to lose our home again. Fortunately, that never happened. We were

1:20.2

both able to advance in our careers and were able to pay off our mortgage in seven years,

1:24.4

fully fund our son's college education, max out our IRA contributions, and have

1:28.3

literally no debt. My wife just paid cash for a Subaru Forrester, not the fanciest of cars or a

1:33.8

status symbol by any means, but she loves it. Today is literally my last day at work before I voluntarily

1:38.7

retire early at the age of 58. I feel like this is for the most part going to be very one-sided,

1:43.6

except for people

1:44.5

who have had just rotten luck in finances or maybe property investment or something like that,

...

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