Democrats Let's Ban Profits!
Posing as an anti-business crusader, Peter Schiff found a number of DNC delegates and attendees who support explicitly outlawing profitability. We deliberately avoided speaking with the occupy protestors camping outside in tents to get a more "mainstream" Democratic perspective!
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What you MUST know about Acorns Investing
Lets discuss and review Acorns Investment App, go over all of its features, and whether or not it’s actually a good value.
What is Acorns?
The basic premise is that they’re an app that helps automate your investing. And their most notable feature, in my opinion, would be their “round up” feature - this lets you invest the spare change from what you spend, and you can just “round up” every single purchase to the nearest dollar to invest the difference.
They also give you the option to setup recurring investments on a daily, weekly, or monthly basis… again, the entire purpose of this app is just to help automate regular and consistent investing. They’ll also let you see, real time, what your investments COULD be worth depending on your contributions…so it’s really meant to get you thinking about the long term.
Now in terms of WHAT they invest in, they say “Your investments are then diversified across more than 7,000 stocks and bonds and automatically rebalanced when the market fluctuates.” So basically, they’re investing in broad funds that track the market, very similar to the vanguard index funds I always talk about on the channel.
And when it comes to this, Acorns is what’s called a Robo-Advisor - this has definitely gained some popularity lately with other companies like Wealthfront, Bettermint, and M1 Finance to name a few.
If we go to their pricing tier, we can see that their basic service begins at $1 per month:
With that, you get the Automated investing where they round up the charge and invest the difference
Then, for $2 per month, you get access to all of that, plus Acorns Later - which is their IRA.
And finally…for $3 per month, you’ll get access to their checking account with debit card.
So overall, looking through everything on Acorns and spending way too much time on this…here are my thoughts and what I REALLY think of it:
Acorns simplifies investing and making it incredibly easy, to the point where you don’t need to think about it. The concept of rounding up is clever, it’s gimmicky, and I can see how it works. If Americans aren’t going to think about investment, they can just invest on Autopilot without making any difference whatsoever except for setting up an Acorns account. So from that perspective, I really like it.
HOWEVER…what I consider a negative for Acorns, is that if you just want to straight up invest a small amount of money into an index fund…and what to do it for TOTALLY FREE, you can do that with Fidelity.
If you’re investing with more money, Acorns slowly becomes more and more worth it as the $1 fee becomes a smaller percentage of the total amount you have invested.
BUT…I’ll admit, using Acorns is WAY better than doing nothing. For people who just can’t seem to save and invest any money, or don’t really take an interest to investing…this is BY FAR better than the alternative of just not investing.
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The Millionaire Investing Advice for Teenagers
For anyone who wanted a video about how to invest as a teenager, or what to do when you turn 18 years old - here is that video, enjoy!
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The 13 BEST Side Hustles to Start (EVERY AGE)
So today let's talk about the 13 best side hustles you can start at every age. Having side hustles gave me an extra income on top of my normal job that allowed me to save and invest a lot more money to create passive income than would have been possible from just a 9-5 job.
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The 6 BEST Side Hustles that Pay $20-$200 Per Hour
Lets go over some of my favorite side hustles that pretty much ANYONE can do, In their spare time, from home, to make an extra $50-$1000 per month. Enjoy!
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Why you SHOULDN'T get a 15-year Mortgage
First of all, there’s NOTHING stopping you from paying down a 30-year mortgage early if you want to. If you get a 30 year loan, you can pay it off whenever you want. If you decide you want to pay it off in 15 years, just increase your monthly payment and pay it off sooner.
What a 30 year loan gives you that a 15-year loan doesn’t is FLEXIBILITY. It gives you the ability, if you want to, to pay it off over 30 years and invest elsewhere…or you can pay it off in 5 years, it doesn’t matter. The advantage to doing this is that it gives you more safety and leeway with your payments.
Also, home equity isn’t really going to be making you money…as unpopular as that is to say, when you have your money tied up in a property, it’s not money that’s easily accessible to invest elsewhere at a higher return. In order to get that money, you either need to sell the property - or do a cash-out refinance, pulling out your money, but then taking out a brand new loan and starting all of this again.
With a 30 year loan, you’ll have access to your money as you need it because you’re paying LESS money into an illiquid investment like real estate, and like my last example, you’ll have more free cashflow available to you at the end of the month.
And arguably, the difference in loan amounts between 15 years and 30 years is really such a small number after you account for write offs and inflation…that you may as well just take the 30 year for additional flexibility, allowing you to re-invest the money at a higher return.
And let me just say this for all the Dave Ramsey followers who live by his advice of the 15 year mortgage:
The IDEAL scenario here is that if you’re getting a home for yourself to live in, buy something where you could afford the 15-year mortgage, but take a 30 year for additional flexibility. If you’re getting a house where you can ONLY afford a 30 year house payment, I’d argue that you should lower your price range.
For an investment property, always take the 30 year…cash flow is king, not equity, so you could always go with the option that gives you the greatest amount of write offs…which is the 30 year…and the most cash flow…which is also the 30 year.
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Passive Income: How I Make $7,200 a Month (5 Ways)
In this video, I will show the passive income sources that I use to generate more than $7,000 per month. I'll be honest, I'm not a big fan of the words "passive income." There seem to be many misconceptions about the topic. If you find value in the video, don't forget to drop a like to support the channel!
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My Minimalist Apartment
While moving into my new apartment I came to the realization that I have too much STUFF. There is really no other way to put it…
In just the few short years that I’ve lived on my own, I had acquired enough stuff to fill multiple U-Haul trucks. How was this possible? Why do Americans have so many belongings and are they necessary to feel fulfilled in life?
When I moved into my new apartment in August I wanted to try something new. I made the decision to adopt a way of living known as minimalism. Contrary to what you may have heard, the goal of minimalism is NOT to deprive yourself of materialistic goods, but rather to focus on the items that add value to your life.
In today's society, we find ourselves with duplicate items. How many of us have a cell phone graveyard drawer in our home? What about that old microwave in your basement? Why do we have three coffee pots?
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Money Saving Tips: How to Save Money (Best Strategies)
In this video, I will share the method that I used to save nearly $12,000 in the past 6 months.
To save money effectively, it's essential to have a thorough plan.
This is MY personal experience.
The variation in income and financial responsibilities among people will impact one's ability to save a given percentage of their income.
The MOST EFFECTIVE money-saving strategy for myself was to set up automatic withdrawals from my primary bank account to various savings and investment accounts at a set rate of 30% of my total income. I found it best to schedule automatic withdrawals for the day income is posted to my primary bank account. I then proceed to live off of 70% of my income and disregard the 30% which was deposited into savings and investment accounts.
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Literally Free Money: Top 2020 Methods
If you're like the rest of us WSB degenerates, you probably need a way to pad your pockets so you can buy more stocks or FDs. Here are a few great ways to score some free bank.
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How to Live on $30 a Week
In this video, I'll show you how I have lived on $30 per week.
If you truly want to save money on food, pay close attention to this video as I show you some of my best practices for cooking.
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How To Invest in 2021 (How ANYONE can be RICH)
First, for those just looking for a basic place to put their money, we have the almighty Ally Bank Savings Account that currently offers a 2% interest rate. You can also use a few other high interest bank accounts, like Barclays, Sychrony Bank, or American Express Savings…they all currently offer around a 2% return.
Second…and this is arguably the most important part of this entire video…when it comes to investing, especially if you’re JUST starting out, is set up a Roth IRA. This is basically an account that you can put money into, and by the time you’re 59.5, you can pull ALL of your profit completely tax free without paying ANY capitals gains tax. Vanguard has a great option for a Roth IRA if you chose to invest with them.
Now third, in terms of WHAT to invest in, my BIGGEST recommendation for MOST people out there is to invest in an index fund with a low expense ratio. When people always ask “how can you get an averaged 8% return”…this is pretty much my advice. Long term, historically, over the last century, the stock market has returned about 8% annually, adjusted for inflation, with dividends re-invested.
Ok…number 4…and I figured I’d put this here instead of listing it back to back with the Roth IRA…but that’s setting up a Traditional 401k. This is an account where whatever you contribute is deducted from your total taxable income, and you can grow your investment tax free until you take it out at 59.5. This means that you’ll have MORE money to invest because you’re paying LESS in taxes. The “catch,” however, is that you’ll pay taxes on whatever you take out of your account after the age of 59.5.
Now number 5…back to investment options. If you want to, or you’re interested in doing a little more work, you can invest in individual stocks. I personally recommend you try to do this within a Roth IRA or 401k to avoid getting taxed on your profits…but this isn’t required. You can just as easily open an account on Robinhood, invest in individual stocks commission free, and reap some pretty great returns.
Now Number 6…my favorite…obviously…is investing in real estate Real Estate. Now unfortunately, this is one of those things that you’ll probably need to work up to. Especially if you’re just starting, unless you have a decent amount of money to already work with, I’d probably recommend saving up or investing elsewhere and then coming back to real estate one you have some capital to work with. Typically, you’re going to need about a 15-20% down payment - which could be a lot of money depending on where you’re planning to invest.
But real estate is my favorite for a few reasons:
The first if that you get immediate cashflow from renting it out.
Second, because of all of the tax deductions, most of that income you make is tax free
Third, you’re able to BORROW most of the money to buy real estate and slowly pay that off over time
Fourth, you’re building up equity as you pay down the loan - so eventually you’ll own it outright
And finally, the property is likely to increase in value over time
This is why it’s no surprise that 90% of the world’s millionaires are created through investing in real estate…and I’m absolutely no exception!
And finally…number 7…drum roll…is investing into a business. And this is probably where you can get the highest return from just about ANYTHING I’ve mentioned so far, or pretty much ANY other investment out there.
Now these are just a few ideas for you to go out and consider…some people might say forex trading, swing trading, etc, the list goes on. But as I mention time and time again, the higher the return, the riskier the investment, and that’s absolutely something to take into consideration.
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How to be a Millionaire in 10 Years (Starting from $0)
Lets break down how you can become a millionaire in 10 years, starting from nothing, and exactly what’s involved…enjoy!
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How I Built 5 Income Sources That Make $42,407 Per Month
In this video, I will share five income sources that earn $40,000+ per month of profit. As I stated in the video, I believe that this will be my last “income report” on this channel. We will continue to provide 1-2 videos per week on topics such as personal finance, investing, entrepreneurship, and lifestyle videos as well. The majority of these revenue streams could be considered passive income sources.
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10 Uncommon Side Hustles to Make Money (2020)
In this video, I will show you 10 uncommon side hustles that you can start in 2020. If you're looking to make extra money in 2020, stay tuned!
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10 Legit Ways to Make Money As a Teenager (2021)
In this video, I will show you 10 ways that you can make money as a teenager or as a kid in 2021. Hopefully, you can take at least one of the ideas presented in this video and expand upon it to earn some money. If you found value in this video, be sure to subscribe to the channel!
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9 Highest Paying Jobs without a College Degree (2019)
n this video, we will take a look at 9 different jobs that do not require a four-year college degree! All of the statistics mentioned in this video can be found on bls.gov
The cost of attending some of the best schools in America can be upwards of $70,000 PER YEAR (ex: NYU) equating to nearly a quarter million dollars for a bachelors degree. If you are looking to save money on college and get the most "bang for your buck," then you may find this video to be useful.
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7 Side Jobs to Make Extra Money
In this video, we will cover 7 side jobs to make an extra $50 to $100 per day! Some of the jobs mentioned in this list can be completed while laying in bed while others on this list may require you to leave the home for short periods of time.
What's the best part about side jobs? You have the ability to work when you want for whatever length of time you desire with no limits.
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7 Places Your Money Needs to Go (How to Save Money)
In this video, I will share a simple, yet effective seven-step process to obtain financial freedom. How do you handle money after you have been paid? Where do you spend money? Do you have multiple bank accounts? This video will outline the seven steps that you may want to consider taking when you receive a paycheck. I will show you exactly how you can cut expenses, save money, and build a brighter financial future.
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WARNING: The Great Reset Of 2021 Explained
Lets talk about The Great Reset of 2021, exactly what it is, what this means for you, and the impact it has on our economy and how you invest your money.
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Dave Ramsey was Wrong, Peter Schiff was Right
Dave Ramsey was Wrong, Peter Schiff was Right
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How to Trade Options on Robinhood for Beginners in 2020 | Comprehensive Guide by InTheMoney
When I say that you shouldn't buy options on earnings "as your mom", it should not be considered advice. This is just how I trade.
Intro to Calls
1) What do calls give you the right to do?
Calls give you the right (but not the obligation) to buy 100 shares of the underlying stock at that call's strike price. This process is called "exercising" your call option.
2) What is a strike price?
A strike price is the price that you can buy 100 shares when exercising your call option. Options are separated by strike and expiration date.
3) What is Premium?
Premium can be thought of as the option's price tag. It is written as the price per share of the 100 shares the contract controls. So, to figure out how much you'd actually pay to buy an option, you must multiply the premium by 100.
4) What is ITM, ATM, and OTM?
ITM describes calls whose strike price is below the current share price. ATM: strike=share price, OTM: strike is greater than share price. I say ITM is "good" because you can potentially exercise them for a profit. This idea is what drives the value behind call options, although it doesn't necessarily dictate them as "good". In later sections this will be discussed further.
5) What is an underlying?
The underlying is the stock on which options are traded. If you have calls on AMD, AMD is the underlying and changes to AMD's share price will affect the value of your option.
Premium
1)What is EV and IV?
EV is value given to an option's premium based on time to expiration and implied volatility. These two things work together. IV is the value of the option based on the money you would receive if you exercised it. This is why you rarely exercise; the value you get through exercising is already built into the option's premium.
2) Why do OTM options not have IV?
OTM can not be exercised for any gain, so there is no IV built into their premiums. OTM premium is composed entirely of EV.
3) With more TTM do calls have more or less premium?
More time means more time to get ITM (or deeper ITM). This is good for calls, and is reflected through higher premium.
4) How is Imp. Vol. correlated with premium?
They are positively correlated.
Implied Volatility
1) Why is volatility good for options?
Your risk is limited to the amount you paid when trading options. However, your upside is uncapped. This means with high volatility, you have a higher potential to make money with the same amount of risk.
2) How is premium correlated with Imp. Vol.?
It is positively correlated. Higher Imp. Vol. means higher premium.
3) Why is it called Implied Volatility?
It is called this because the expected volatility of the stock is extracted from the options' premiums. It is the hype behind the option that is represented as a more expensive option. In other words, the future anticipated volatility of the stock is implied by the option's premium.
Option Stats
1) What is the bid and the ask?
The bid is the highest price buyers are willing to buy at, the ask is the lowest price sellers are willing to sell at. To get in and out immediately, you must buy at the ask and sell at the bid.
2) What is the bid-ask spread?
It is the difference between the bid and the ask and is what you give up to get in and out of a trade immediately.
3) What does RH show as the option's price?
RH show's the middle of the bid-ask as the option's price. Even though Robinhood displays a price, people may not be buying or selling anywhere near that price. You ALWAYS want to make sure to check the bid-ask for this reason.
4) What is volume and OI?
Volume is the number of contracts traded that day. The higher the volume, the tighter the bid-ask. OI is the number of contracts in existence, which will fluctuate.
None of this video should be considered advice. It is purely for educational purposes.
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How To Buy Your First Rental Property (step by step)
How to invest in real estate: Here’s exactly how you can buy your first rental property, step by step, and the process involved.
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