Millennial Financial Habits | Phil Town

Hey folks, thanks for stopping by and watching today's video! So, what do you think do the millennials have it right? For more help on getting financially fit and to join our Facebook community, click here >> http://bit.ly/YT-Financially-Fit

I don’t know a single thing about the stock market or how to get involved. Like I know literally nothing.

When you live with mommy you just get mommy to pay your bills!!!

Is this data solely based in the US? Or can I relate it to the UK

First of all I Really like watching your videos .
I'm 18 years old and I have a part time job . I'm from India . How do I ace it in being financially sound?Looking forward for your reply!

I think it would be interesting to see a comparison of how 20 year olds spent their money 25 years ago, compared to now.

I think about financial freedom every day!#millennial

I’m a millennial and financial freedom is definitely the reason why I want to learn how to invest

This is the first video on the entire internet when somebody actually talk good about millenials xD thanks phil

I disagree with the claim that the spending habits of millennials is a problem. Or the spending habits of any generation would be a problem. Yes it is a problem for companies whose products they are not buying. But it is just a shift on the market, not a problem.
Claiming it is a problem only distance ourselves from groups of people, and we will never understand them. We have to understand them, see where their money goes, because this will be our future. We have to find the companies which benefit from this shift, and invest into them. Also we need to identify the long term losers of this shift, and get rid of them.

So long as you pull your head in and make sure your net worth is very close to $0 (meaning no personal loan/credit card debt) by age 25 and start slowly, steadily investing 10%+ of your income, whether that be in real estate, stocks or investments; then you will be fine!

Great analogy

Writing a book about being a Millennial. I think it's quite simple to become a millionaire as a millennial with all the information available for us and a little disciple/patience.

financial freedom is my goal.

Not the best time to get involved with the stock market. Yes, this correction opened some nice opportunities, but it's the beginning of something bigger. Many of the stocks I'm watching reached their buy price (some of them down up to 20%), however, there is not enough fear out there, so don't get too greedy yet 😉

Mr. town I have read your book rule #1 and reread it. I’m having one problem however I can’t seem to figure out how you get your #. Can u please make a video on how you, in 2018 can use websites like msn and yahoo to get growth numbers. Where can I get the 10-9 years equity # from? thank you

I watch your videos im only 17 and live at home but every cheque I get I put it right into my bank account and haven't spent any of it because I plan to invest my money into the stock market using rule #1 investing! I already hav a large amount for my age. Thank you!

Hi Phil. I've got a couple points and a question. First, to answer your question about financial goals, my financial goal is exactly the one you suggested… To be financially free. Free of the stress that comes with not being financially stable. I grew up in a very low socio-economic situation, with my parents making terrible money decisions, and I am simply striving to live a better life. So first, I'd just like to say thank you for sharing your wisdom and knowledge. Sincerely, thank you.

Secondly, I'd love to be pointed towards some more resources. After trying to get some basic knowledge from your videos, I finally opened a brokerage account and began investing. Only problem is, I made a rookie mistake and DIDN'T follow your critical advice regarding waiting for prices to drop. Instead, given the nature of the bull market, I reckoned now would be a good time to get in as the economy continues to grow (but as I'm realizing, the market is not the economy!). Instead, 2 weeks after getting in the market, we experienced the recent and ongoing pullback/correction. As such, I've lost a small amount (though it seems substantial to me) of principal thus far. Can you point me in the direction of specific videos of yours or resources that can help me follow the right strategy and make good decisions during this volatility/and or to somewhat recover from entering at the wrong time? Is the answer to simply stick to dollar cost averaging and continue buying into my current positions?

Again, thank you!

Great video.  I'm a millennial…I LOVE experiences way more than stuff.  But I also believe in investing, and I don't detract from that in my own life.

video in 1 second: we spent all our money

I agree 100%. Im 33 years old and I’m slightly a part of this generation. Starbucks wasn’t around twenty years ago and neither was amazon and iTunes. It’s so much easier now to impulse buy and it’s its frustrating because convenience is taking over our lives.

Mr. Town Financial freedom is what I think everyday all day long.

ah yes the financially responsible boomers who were able to get a house working a summer job

Are you putting up any videos to talk about the behavior of the stock market lately.

I am all in on Bitcoin.