The Simple Path To Financial Independence | Ryan Sterling | TEDxFarmingdale
nce you have an engaged customer, reduce any friction between the customer and the sale. This is the first rule of sales and marketing. In retail, the main friction points used to be traveling to a physical store and using cash to make a purchase. This is no longer the case. With
the explosion of credit cards, e-commerce, easy checkout, and digital marketing there is zero distance between you and the sale. The easier the buying experience, the more you spend. The truth is, nobody is going to stop you from spending money in a reckless and unintentional way.
The main idea: The natural barriers that used to exist between you and spending your money are gone, and if you don't intentionally add back friction points, retailers and marketers will take your money. Ryan Sterling is the founder of Future You Wealth, a successful wealth manager, and sought-after holistic wealth coach.
Prior to starting Future You Wealth, Ryan had over 15 years of experience working with individuals and families at firms such as AllianceBernstein, Goldman Sachs, BBR Partners, and Capital Group.
Ryan earned a BA in Economics from Carleton College, and an MBA with a specialization in Investment Management from Vanderbilt University. He is a CFA® Charterholder and a member of the CFA Society New York. In addition, Ryan teaches financial literacy at the Bronx Youth Center and his work has been featured in numerous media outlets including: Business Insider, CNN Money, and HuffPost. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at www.ted.com/tedx
I retired 5 years ago. My wife retired two years later also at age 60. To date, we have not touched a dime of our retirement savings. We are having zero issues living on nothing more than our Social Security. What's our secret? Simple, we retired debt-free. Just remember it matters more how much you own than it does how much you have. It's a simple plan. Take care of your debt before you retired and eliminate money worries after you retire.
Retirement becomes truly fulfilling when you possess two essential elements: simple financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement. How can I get these things after retirement ?
I save(MF, Stocks, Gold) 30% of my income each month as if it's a loan EMI. Now if I save anything out of 70% of my money, I use it for my pleasure, extravagance and don't even think twice! I usually end up saving 7 to 10% of my 70%. Yes, I pay loans for my home and car out of 70%. I am 39 and fully confident of retiring by 50. All thanks to the magic of compounding now I have started to get on my savings. I started saving when I was 31. The best part is that this pattern has freed me from worrying about the future and thus possibly helping me to be physically and mentally healthy as well. Because "worry" is the biggest decease of all time.
A Financial Planner told me Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. How can take advantage of compound interest and potentially grow your retirement savings to about $3M over time?
Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin or you can just seek the help of a financial advisor.
@@roseroland1998 Having an investment adviser is the best way to go about the stock market right now, especially for near retirees, I've been in touch with a coach for a while now mostly and I made over $800K within a short time
@@stevensmiddlemass2072 How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings.
@@ConradGosling I'm being guided by Stacie Kristal Weber . She is a well known advisor. You can simply search her name on the web So that you can easily get in touch with her. she has years of experience in the financial market.
@@stevensmiddlemass2072 Found her online page by searching her full name, I wrote her an email and scheduled a call, hopefully she responds.
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.
I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with this person
please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
When ‘Carol Vivian Constable’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
I admire the financial independence of people, But you can live better if you work a little more. After watching this I think there are people out there, on the extreme, who plan to die early just to be able to retire early. To each their own but to me, retirement isn't just about not having to work, it's about having the freedom to do whatever you might reasonably want, such as travel, buying things, enjoying life, etc. I don't think I could retire with less than $3m in income-generating investments, maybe $2m at the very minimum. I plan to work until I'm at least 45
Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving
@@MaryPatricia-wr3wj Having an investment adviser is the best way to go about the market right now, especially for near-retirees, I've been in touch with a coach for a while now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I netted over $220K during this dip, that made it clear there's more to the market that we avg joes don't know
@@user-wx7qe4ch9f Who’s the person guiding you
@@MaryPatricia-wr3wj credits to *MARTHA ALONSO HARA*, one of the best portfolio managers out there. she's well known, you should look her up
@@user-wx7qe4ch9f Thank you, I just checked her out and I have sent her an email. I hope she gets back to me soon.
Live within your means, don’t spend money you don’t have, don’t fall into societal/peer pressure, and focus on your own financial journey. It’s just common sense.
And, save money. Then, Invest it in low cost index funds.
It's more than common sense, it's letting go of addictions/building good habits
Common sense is not that common these days.
@@svmuscle7677 exactly. Very hard to let go of bad habits especially when doing it for so long.
Sadly, it’s so common sense that people often forget and want to use the easy option, aka credit.
Good stuff, great presentation delivery. Getting people to think like investors over consumers would quickly solve problems for a large segment of society.
Such an important topic that many people need to listen and think about! I wish they teach this stuff at school to set our young generation to a right path!!! Thank you and great job!!!
Living within your means is the key. It is sad to see so many people with high debt and no savings. Thanks for sharing some things to make people think. Hopefully people will listen to your message. Saving has always been important for us and fortunately we were able to retire at 55 and now plan to travel the world. Hopefully we can inspire others to save and invest. John and Bev
My husband and I have the same goal!!!
You're my inspiration!
Having limited space in my house is enough of a friction point for me
Great video! So easy to understand and so valuable! Thank you so much for your explanation!
My partner couldn’t stand to have cash sitting around, he would not only spend it, he would spend 2 or 3 times. That doesn’t work in the real world. So I wouldn’t spend extra money, I just got good at getting better deals and kept our “savings” in a 1 yr storage of food, in items (leds, ceiling fans, energy efficient appliances, etc) that gave us a lower cost of living. Without a mortgage we invested in our 403b and 401k and Roth IRAs to drop our taxes. We took vacations, we kayak our local river weekly, we enjoyed life and raised our family. We lived simply but fully. FI is possible on one income and one income plus 1/2 income, living life your way.
Thank you 😊
This is basic every one need to dive deep in financial freedom
Simple but not easy. People need to have commitment and the mindset to see it through. Great talk though.
Thank you for sharing such an amazing video with us.
Great talk! Could use about an hour longer presentation on this topic.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family...
@rachealhubert74 Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. Bridget Mary Turow, a licensed fiduciary whom has made me over 5 figures in profit in less than seven months, handles my investments. I could leave you a lead if you need help.
@rachealhubert74 Bridget Mary Turow
Lookup with her name on the webpage
Scam
awesome talk 👍🏼👍🏼🎉
Final independence = intention + ownership
This is one of main goals...I´m on!
super super super thanks!!
Keeping up with the jones is the problem. Everyone is sold on this idea they can have all this stuff(media), they want all this stuff(marketing), and they can afford all this stuff(cc and debt system). Once you start to see it for yourself, you'll never buy in to it again. What people want is some security and a passion to pursue. The other stuff just gives the illusion of that.
Superb!
I’ve been debt-free twice in my life but have yet been able to maintain that status....will watch this video now. ALSO....I watch videos in F.I.R.E (Financial Independence Retire Early).
@@dustyoldhat I care, he recommended FIRE 👍
American society norms are steered heavily towards instant gratification and status.
It's marvelous 😁👍👍
I'm enthralled by this content. I had the pleasure of reading something similar, and I was truly enthralled. "Mastering Money Mindfulness" by Benjamin Hawk
Keep it balanced
After 50 real wealth came fast. In 4 years, I built a paid million dollar paid rental portfolio then took the $175k left in 401k rollover to IRA. Ran the $175k to about $700k and now we have almost $1M in stock market. Net worth went to maybe $2.6M without much lifestyle creep intentionally. We continue to reinvest ALL profits without real debt and paid house and cars.
I agree, Common Sense, becoming 50, people should have spent 20 + years in the workforce. All that compounding income minus expenses of houses, kids, etc. makes 50 the financial sweet spot and pivotal turning point, if you know how to. You definitely sound like you know what you're doing 🙂
@@KC-kr8qe thanks we are rocking financially currently, but I find it further alienates us in some ways. We still buy functional paid housing where her family turn up their noses buying large 2 story brick houses with large mortgages. We buy small things daily what we want and they struggle being "broke" most of the time. NOT saying I am right but being a multimillionaire feels better. They still routinely ask her 82 year old dad on SSI for purchases over $500. It is all good, but it is a whole different mentality. Think their need to be a balance. I think I am more cautious on spending. You have to live too so there is a balance.
Except it took you till 50
@@Rosetteismyname true I had a six figure IT career and own a few condos then houses, but also made a lot of classic mistakes. After I saved about $100k and had real estate experience what I had tried for years "clicked" and I found my own niche. I always lived below my means. I had all the pieces, but still real wealth did not happen until after 50. I likely was doing better than many but not where I saw myself.
I could’ve done this Ted talk when I was 8.
So basically you are talking about minimalism
It's funny that it needed a tedtalk for people to become aware of minimalism
All the stuff you buy will end up in the landfill. Probably only 10% of it will provide the value you were hoping for. But the invested dollars will grow and grow over time. They will give you the option to stop working well before retirement age. You won't worry about being laid off when times get tough. Fights over money? Nope. Your health will improve as well and so will your power at work (your boss knows you don't need the job).
Successful people don't just become that way overnight. What most people see as a glance-wealth, a great career, and purpose is the result of hard work and hustle over time.
This is a Ted Talk?!?! Maybe I should apply.
I just need a pair of skinny jeans
Apply karna. Zaroor apply karna
Second 🥈 hopefully my financial life changes
If everyone followed his advice the stockmarket would drop because no one is buying anything. I'm glad we are all different.
assets over liabilities
He says we have to fight consumption and save... and the saving then go toward a dream holiday, or a deposit on a house. This is still consumption. He needs to reword this.
Buy assets that will be needed no matter what ! Realestate
Buy a home and invest in real estate. Much better than stocks due to debt financing and huge tax breaks.
So people with no savings and low paying jobs simply invest money they don't have in ventures that "might" be lucrative?
yesssssssssssssssssssss
Focus on building something that helps as many people in your community as possible and charge for it. The more people you serve the richer you get it’s as simple as that.
You failed to address the idea that appreciating assets (stocks) don’t fill the need/desire for physical property (clothes, shoes, accessories, gadgets). The point of financial independence is to live a life where one can afford the things he wants. I believe the complaints against the market suggesting its risk and pretension are fairly irrelevant in the context of the value of a stock. A more fitting concern is the discernment between the value of indulging and investing as there is room for both and financial freedom and satisfaction require a balance of the two.
Siuuuuuuu
This seems like obvious information, but it's not to most people. And of course it's not. That's exactly the way it's been designed. To make it seem inaccessible, alien and "only for rich people." That being said, people who talk about their stocks 24/7 are annoying af lol
Videos like this are classic and comprehensive for one’s understanding…I do appreciate your works to the community! It’s being quite a year and couple of months now I’ve been trading and investing in market commodities, making huge gains and a loss at same time while learning under Mr. Ray Perkins mentorship platform. He’s the best I’ve worked with all through my trade journey. Thanks to him I earn on a weekly basis having him manage my account and portfolio!
Most people could relate to the fact they just like stuff
I love how all those videos assume that people have a stable income XD When you earn just enough to live paycheck to paycheck you cant afford to save Thats what people dont get having no cash isnt a choice its how the world is designed
There definitely are people that are struggling from paycheck to paycheck. On the other hand apple sells hundreds of millions of iPhones every year and there aren't hundreds of millions of 250k+ earners out there to buy so many of such a luxury product.
If you set aside the FIRST 10% of every paycheck FOR THE REST OF YOUR LIFE you will never miss it and you will have $1,000,000 in about 30 years.
@@backcountyrpilot you will miss it if you're making $20k per year but if you have a full time job then yeah you're unlikely to miss it
See how easy that was? To make an excuse. Try making a way to change your situation instead
Victim mentality. It will kill you.
That's why, i use cash for all personal purchases. The credit card, is for work expenses, paid in full at month end. Wake up, young people.
these videos always assume I spend much more than I do, lmao. haven't bought an article of clothing from somewhere that wasn't a thrift shop (excluding a pair of sneakers, when my old ones had multiple holes in them) in years, only eat out (which is just usually takeout or fast food) about twice a month, have had the same phone for 4 years, wait 3 days before ordering anything online. the fact that folks treat my lifestyle as something groundbreaking that deserves its own ted talk is absolutely bonkers to me. what kind of crazy rich neighborhoods are speakers like this from where my lifestyle *isn't* the norm???
Sell all your assets and send the money to Cardone Capital
I searched for “financial independence when you’re disabled”. I’m sad that this was a suggested result - the same old rhetoric for people who have plenty of money - and the comments section is a thumbs down too. Y’all need to realise that it’s not that easy for all of us, it can indeed be impossible.
instead of stocks buy real estate!
I beg to differ.
I agree with the basic idea, just consider that their former financial performances don't represent your money's future performances, stocks are risky no matter what you think
Yes but diversion and a time frame of over 10 years will reduce the risk.
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Achieving financial independence is not as hard as society makes it out to be. It's about living well, not being a billionaire💡
This speech is false because there is no one there and yet he acts as if he is speaking to someone present, as if it is a play, so he is trying to lie.
I lost my job due to covid and a friend of mine recommended Sir Chris and ever since trading with his platform I have been benefiting a lot.
+19197093004
Hi there, generic way of speaking-person
I just turned 18 I learned so much from thin vdo thanks ❤🫶🏻
Great talk! Could use about an hour longer presentation on this topic.