Why Young People Are Poorer Than Ever | Humphrey Yang

Leveling Up with Eric Siu

English - February 28, 2024 15:00 - 1 hour - ★★★★★ - 294 ratings
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Previous Episode: How He Cracked the Money Making Secrets of Wordpress | Syed Balkhi

Humphrey Yang discusses the financial challenges faced by younger generations and offers insights on building wealth. He highlights the significance of saving and investing, recommending a focus on index funds. He explains the compounding effect of wealth and the benefits of reaching $100K net worth.

Watch the full interview here: https://youtu.be/V4iPHetTgaI

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TIME-STAMPED SHOW NOTES:

(00:00) Introduction to Humphrey Yang

(03:04) Opportunities for making more money

(04:56) The benefits of job hopping

(06:47) Personal experiences with job changes

(09:36) Building wealth through saving and investing

(13:16) How to become rich

(19:19) Strategies to reach $100K net worth

(21:13) The importance of owning assets

(23:40) Asset allocation and real estate

(25:30) Diversification and portfolio concentration

(28:18) The role of financial advisors

(30:37) The number one wealth killer: new cars

(31:59) Money-saving hacks

(34:21) The influence of mindset on money

(35:44) Taking risks and privilege

(37:39) The benefits of living at home

(38:38) The power of saving and investing

(39:35) Evaluating the macro economy

(41:25) The challenges of the middle class

(43:12) The influence of gaming on life and business

(45:32) The role of YouTube in financial education

(49:45) The breakout of the YouTube channel

(57:27) The challenges of YouTube and momentum

(1:00:07) The business expansion and diversification

(1:04:06) Growing a newsletter

(1:05:01) Monetizing YouTube

(1:05:57) Crypto experiences

(1:08:15) Blind spots and risks

(1:10:24) Personal finance YouTube community

(1:11:47) Starting a business with minimal risk

(1:13:10) Podcasting and content distribution

(1:16:40) Charging for brand deals

(1:17:37) Controversial takes on personal finance

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