The Key to Financial Success The first corollary of Parkinson’s Law says: “Financial independence comes from violating Parkinson’s Law.”
The Way the Law Works
This law says that, no matter how much money people earn, they tend to spend the entire amount and a little bit more besides. Their expenses rise in lockstep with their earnings. Many people are earning today several times what they were earning at their first jobs. But somehow, they seem to need every single penny to maintain their current lifestyles. No matter how much they make, there never seems to be enough.
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For those who are interested in Trading & Investing, I encourage you to join my Facebook Team of over 100,000 Entrepreneurs for free!
Thank you for the support, the best way to reach out to me is through our private discord chat, please DM me.
If you have any suggestions for future videos such as Day Trading, Investing, Stock Market, Real Estate, Car Sales, Robinhood, TD Ameritrade, Crypto & bitcoin, Entrepreneurship, Forex, Online Marketing, Online Sales or fun daily vlogs. Please let me know.
DISCLAIMER: Please note that i do not ask for any information. I always encourage our members to trade ONLY what you understand and never based on anyone's opinion. My videos are for entertainment purposes only.any questions to message me as i would love to be a part of your success.
The Way the Law Works
This law says that, no matter how much money people earn, they tend to spend the entire amount and a little bit more besides. Their expenses rise in lockstep with their earnings. Many people are earning today several times what they were earning at their first jobs. But somehow, they seem to need every single penny to maintain their current lifestyles. No matter how much they make, there never seems to be enough.
1.Trade With Me Live: https://learnplanprofit.net/lesson-library
2. Make $ Driving Your Dream Car: http://www.flippingwheels.net
3. Free Techbuds Group: http://bit.ly/techbudsfbgroup
4. Free Stock Training: https://goo.gl/VuKJaq
5. Ricky's Insta: https://www.instagram.com/rickygutierrezz/
6. Techbuds Insta: https://www.instagram.com/techbudsolutions/
7. Get Your Free Stock: http://share.robinhood.com/rogelig27
8. Rent a car on Turo, Get $25 Off: https://goo.gl/2x3WK
For those who are interested in Trading & Investing, I encourage you to join my Facebook Team of over 100,000 Entrepreneurs for free!
Thank you for the support, the best way to reach out to me is through our private discord chat, please DM me.
If you have any suggestions for future videos such as Day Trading, Investing, Stock Market, Real Estate, Car Sales, Robinhood, TD Ameritrade, Crypto & bitcoin, Entrepreneurship, Forex, Online Marketing, Online Sales or fun daily vlogs. Please let me know.
DISCLAIMER: Please note that i do not ask for any information. I always encourage our members to trade ONLY what you understand and never based on anyone's opinion. My videos are for entertainment purposes only.any questions to message me as i would love to be a part of your success.
i didnt know you went blonde !
You have no assets. The only asset you have is knowledge of the stock market. Find and manage more assets!!!
This guy’s from another planet
Great video
6 figures is a lie..
120,000 Is more like 85,000 after taxes. 🙁
I love all your advice
MK ULTRA
DETECTED
Someone is sitting in the shade because the seed they planted years ago… Another great video mahboyricky.
When you say correct it kinda scares me….
Anyway i love your vids and discipline, im 15 now and study yoir tips. I want to be like you in my 20s 😂
?Peroxide? No NO NO…Anyway, you are good too us. I can relate..you are young and vibrant..Your stock trading skills are appealing to me..(US), So, Peace 🙂
30% goes to tax… Does this account?
LEGEND. Killing it bro don't stop w the vids
Vietnamese migrants starting in mid-70s who settled mostly in Louisiana went into their traditional fishing occupation in tattered small boats. They worked long hours and diligently saved from 50% ~75% of everything they made. After a few years, they were able to buy-up big fishing trawlers. Although substantially wealthier, they maintained their age-old savings habits, pooled their funds when opportunities presented themselves and invested in other ventures especially cash flowing real estate. Way to go!
I am a mom to 8 kids, frugal is my middle name! Go Ricky!!
T AX E S
real talk right here
When you trade is it share dealing, cfd or spread betting? Because I find in the uk trading on margin is very popular and I was just wondering how you trade?
Hello, thank you Ricky for your condivision of things. I do not understand 80% about you talking in english, but I understand concept: do not spend money for what you do not need to live and safe how many money you can safe for a great invest.
Thank you from Italy
How do you do it DAY AFTER DAY ? WEEK AFTER WEEK , MONTH AFTER MONTH , thats the hard part ! Any tips?
"There's no secret to becoming rich, America. Spend less than you make."
– Sir Charles Barkley
Hit the nail on the head.
"based on this article that I read"
EDIT: The premise is on point but the examples are a bit skewed.
The average person who makes $50k pays effective federal+FICA of ~20% so its more like 40k /12 =~ 3.3k a month.
Personal expenses should be dialed back to 1000/mo personal expenses because they probably can't afford 1500…sooo 2.3k a month left…
The average person probably needs to have a rent cost because the housing investment wont be there at the start, so another 1k.
1.3k a month left over! minus state taxes , transportation, debt, and possibly health /dental depending on where you live.
After misc expenses I'd say about 800-1.3k/mo left over, which is about $10k – 15$k a year.
As someone who's lived through this exact scenario, a $15k annual savings sounds about right.
That $15k holds huge value for someone who who probably has less than $5k saved.
This is also the very essential starting point for launching your investments.
god wtf did you do to your hair?
Goddamit I love this man.
Idk man I think I take him more serious ever since he went Super Saiyan
Jeez, Ricky… I'm sure cost of living, cars in cash, and roommates help a lot but DAT MARGIN. My expenses are like $3200-3500. I might sell my financed 2018 WRX and get a sub-10k car and try and save an extra $400 a month. Knowing you're that frugal with your income is inspiring. I think I can save 50% of my income with some adjustments.
I’m new to your videos and I’d just love more of these videos on like the lifestyle choices you made which led to your success.
Loved it Ricky!
Thanks for these video's <3
Great video. People love the concept of getting a raise in there day to day job and then going out more, or taking on new car payments, but it couldn't be further from financial freedom. Raises to me mean greater 401k increase, or pay off latest debt acquired, or buy courses in learning to generate income, whether it be trading, or gaming, or hitting the gym, as long as it has an end of result of making future profits. NJ Ricky. Keep it up.
Thank you for this Ricky! I didn't know about that statistic before but that's crazy.
New haircolor is coool bro!
Ummm….what about the taxes man, A person making 100K only see's 70-75k. I believe in your theory of frugality and knowing where your money is going, but at least get the numbers right. In your scenario a 50k take home is actually probably making 70k dollars.