Uploaded July 2024 | Updated September 2026, 2 hours ago
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Today's topic is about Net Worth. Should it always go up? Should you hoard so that it just keeps rising? Should you ever spend to the extent to keep it flat? Or even spend to decrease your Net Worth which essentially means you're getting poorer? Sometimes this is neccessary when you are getting older and wish to enjoy some of the fruits of your labor.
There is also the question on what is a life changing amount of money? It is relative to your economic position. It might be life changing at $10k for some and this might be $1M for others.
In addition, the sticker price of a home is not all that you need to have to buy it. An expensive homes comes with a large property tax bill and if you do not have the financial backing to continuously pay it, then it could be a huge drain on your resources. I would then consider this to be over extending yourself. Similarly, having roughly 10x the amount of a car should be a good rule of thumb to follow. Not an exact science but it's around there. The value of a car depreciates quickly and if you only have the amount to cover the car, it is a very bad idea to buy it. It is better to use it as a stable financial base, collect interest on it or invest it in various ways.
#networth #spendinginretirement #retirementplanning
Don’t beat around the bush, beat the bush!
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All published content is for informational purposes only, and any opinions expressed are our own.
BeatTheBush nor his representatives will offer you investment advice, investment services of any kind, and/or legal services. Please contact the appropriate licensed professional for such needs.
BeatTheBush nor his representatives will ask you for any private banking or investment account information. Please safeguard your data against criminal impersonators. Beware of scams often portrayed with misspellings of the social media accounts requesting transfers of digital currencies.
Copyright 2014-2023 BeatTheBush. All right reserved.
► Moomoo, get up to 15 FREE stocks: Terms and conditions apply https://j.moomoo.com/008UFx
Today's topic is about Net Worth. Should it always go up? Should you hoard so that it just keeps rising? Should you ever spend to the extent to keep it flat? Or even spend to decrease your Net Worth which essentially means you're getting poorer? Sometimes this is neccessary when you are getting older and wish to enjoy some of the fruits of your labor.
There is also the question on what is a life changing amount of money? It is relative to your economic position. It might be life changing at $10k for some and this might be $1M for others.
In addition, the sticker price of a home is not all that you need to have to buy it. An expensive homes comes with a large property tax bill and if you do not have the financial backing to continuously pay it, then it could be a huge drain on your resources. I would then consider this to be over extending yourself. Similarly, having roughly 10x the amount of a car should be a good rule of thumb to follow. Not an exact science but it's around there. The value of a car depreciates quickly and if you only have the amount to cover the car, it is a very bad idea to buy it. It is better to use it as a stable financial base, collect interest on it or invest it in various ways.
#networth #spendinginretirement #retirementplanning
Don’t beat around the bush, beat the bush!
I enjoy a good discussion but I like getting to the point even more.
► More resources at my Patreon: patreon.com/BeatTheBush
► Mint Mobile, as low as $15/month: mintmobile.com/bush
► Moomoo, get up to 15 FREE stocks: Terms and conditions apply https://j.moomoo.com/008UFx
► Webull, up to 12 FREE fractional shares: bit.ly/2XwlcQ4
► Get $30 when you spend $30: rakuten.com/r/FRANCI7350?eeid=28187
► FREE Audible Audio Book: bit.ly/2Z4RrN7
► Build Credit w/ NO Credit by Self-Lending: self-lender.3qcw.net/YYZBP
► BeatTheBush Honey Badger T-shirt: bit.ly/2FBAeLA
Watch my other videos at:
amazon.com/shop/BeatTheBush
youtube.com/@BeatTheBush
youtube.com/@BeatTheBushDIY
youtube.com/@BeatTheBushTech
youtube.com/@BeatTheBushFoodnTravel
Keep up with me at:
instagram.com/TheBeatTheBush
twitter.com/TheBeatTheBush
facebook.com/BeatTheBush
WARNING & DISCLAIMER:
All published content is for informational purposes only, and any opinions expressed are our own.
BeatTheBush nor his representatives will offer you investment advice, investment services of any kind, and/or legal services. Please contact the appropriate licensed professional for such needs.
BeatTheBush nor his representatives will ask you for any private banking or investment account information. Please safeguard your data against criminal impersonators. Beware of scams often portrayed with misspellings of the social media accounts requesting transfers of digital currencies.
Copyright 2014-2023 BeatTheBush. All right reserved.
