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THEY SAY: As of now, the general consensus is that college-educated salaries go up over time, as you gain more experience. Because of that, it becomes EASIER to contribute larger amounts to retirement as you make more money, LATER IN LIFE. PLUS, INFLATION also makes buying things more expensive over time - so, they say: the time to spend is while your income is LOW, enjoy things NOW while you’re healthy enough to enjoy them…and THEN, by 40 years old, saving for retirement will be EASIER, without cutting back, because you will already be in your peak earning years.
However, there are a few obvious assumptions:
First, they assume that Social Security will replace 33% of your income in retirement.
Ultimately, the only way for the social security fund to continue functioning is if more and more people contribute to it to pay off the previous people, who are now living longer and continue receiving payouts…but, that’s not happening. The social security fund is said to be underfunded, and current reserves could run out by 2031.
Second, they assume that your income will steadily increase over time - and this isn’t something that’s GUARANTEED.
Third, LIFE HAPPENS.
Nothing is guaranteed - including that we’ll actually be old enough to enjoy our money one day…but most likely, you will live through your 70s.
As for me, I think NOT SAVING for retirement throughout your 20’s is a HUGE mistake…simply because your 20’s are the EASIEST TIME for you to invest. If anything, I think NOT INVESTING before 40 will make you WAY more miserable…than investing too much BEFORE 40…and that’s something a chart won’t be able to calculate.
That’s why, I see the BEST, EASIEST SOLUTION to all of this is just this simple: save and invest as early as possible, and prioritize this as a necessary budget. If there’s anything left over that’s above the amount you budgeted for, consider using THAT amount for your “fun money.” BUT, just like you wouldn’t skip your rent payment so you can got o Coachella…you shouldn’t skip a Roth RA contribution because you want to buy something else instead.
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Cash account is offered by Wealthfront Brokerage LLC, a Member of FINRA/SIPC. Wealthfront Brokerage is not a bank. We convey funds to partner banks who accept and maintain deposits, provide the interest rate, and provide FDIC insurance. The paid testimonial provided above may not be representative of the experience of other cash account clients, and there is no guarantee that all cash account clients will have similar experiences. Investment advisory services are provided by Wealthfront Advisers LLC, an SEC-registered investment adviser, and brokerage products and services are provided by Wealthfront Brokerage. Nothing in this communication should be construed as tax advice, an offer, recommendation, or solicitation to buy or sell any security. All investing involves risk, including the possible loss of money you invest, and past performance does not guarantee future performance.
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What's up you guys, it's graham here, so, as many of you know, i spend a lot of time on the internet like half my day is spent browsing reddit reading up on investments watching youtube videos and reacting to bad spending habits. I do all of this because every now and then i come across some information that gets me thinking that sends me down a rabbit hole of information and research all night long and today, ladies and gentlemen, i may have found it. It's a brand new article from business insider, citing brand new research that suggests that millennials are making a mistake by investing before the age of 40 and that it will make you miserable and from their findings. Saving too early is rather pointless and they explain why it's better instead to wait until you're older, which, if that's the case, i've been doing it wrong this entire time.

But evidently you shouldn't wait too long either, because those findings coincide with something even more alarming and that's that 50 of americans may be forced to retire near poverty caused by somewhat of the opposite of the first article. So, let's go and dive into this further because you know what they say. The truth usually lies somewhere in the middle and we'll answer exactly when you should wait to invest, but also why you shouldn't wait to invest too long and exactly how much you will need save to live indefinitely off of your investments and passive income without ever needing To work another day in your entire life ever again, that is the end goal of investing that your mega yacht maintenance costs are fully paid for by meme stock investments, because you have diamond hands and know how to read technical analysis, and that, of course, is what We're going to be covering today, but before we begin, i want to say a huge thank you to everybody who smashes the like button and comments for the youtube algorithm. Doing that helps out my channel tremendously, and even something as small as destroying the like button, helps the youtube algorithm and recommending my videos to an even bigger audience.

So for that i really appreciate it and thank you so much and also big. Thank you to wealthfront for sponsoring this video, but more on that later, all right! So first, let's address this brand new research, which found that investing before the age of 40 could make you miserable see the conventional advice when it comes to this is that the sooner you invest your money, the faster it could grow, because you could take advantage of. What's called compound interest, this is your money's ability to make more money, which then makes more money, because it's making more money, which makes it even more money. For example, if your money doubles in value every 10 years, you're gon na have twice as much money left over at the age of 60 if you start at the age of 20 versus starting at the age of 30..

Basically, the point i'm getting at here is that mathematically speaking the longer you wait to invest the more money you're going to need in the future to be financially independent. That's why i'll admit i was very skeptical when i saw a claim like this, but i wanted to be open-minded and see how they would be able to argue against math, and i got ta say they came up with some very interesting reading material i'll link to The full article down below in the description for anyone who wants to pull their hair out from boredom, because the whole thing reads like a dictionary, but i'll sum it up for you in a minute. As of now, the general consensus is that college educated salaries go up over time. As you gain more experience, in fact, they say when you're 25 years old you're only making 42 percent of what you will be making when you're older.
Because of that, it becomes easier to contribute larger amounts of money to your retirement accounts later in life. Plus inflation also makes buying things more expensive over time. So they say the time to spend is while your income is low, enjoy things while you're still young enough to enjoy them, and then by the age of 40 years, old saving for retirement is going to be a lot easier because you're going to be in your Peak earning years and can contribute more money, so, in order to maximize how much value you get from both your savings and your life experience, if you expect that you're going to be making a lot more money in the future, don't stress about investing now, just wait Until you're 40 and do that then their words, not mine, but i got ta say after reading the entire article, i think they went horribly horribly wrong with a few very dangerous assumptions that we got ta talk about. First, they assume that social security is going to replace 33 of your income in retirement, which honestly could be a video in and of itself, because the entire social security program is a train wreck that will need to be addressed.

See for those not aware every single time you pay your taxes, a portion of that anywhere from 6.2 to 12.4 percent goes towards a social security fund that promises to pay you a portion of that money back after the age of 62 in retirement. This was set up as a way for people to receive guaranteed income if they become disabled or unable to work, but the problem is that the system design was very much flawed. Ultimately, the only way for the social security fund to continue operating is if more and more people continue to pay into it to pay off the previous people, who are now living longer and continuing to receive payouts. But that's not happening.

The social security fund is said to be underfunded and the current reserves could run out by 2031.. Then, after that, the taxes coming in from active employees will only be enough to pay about 76 of the benefit to retirees and then, after that, a few things could happen. One social security taxes go up for everyone else, who's working or number two, the benefits of social security end up going down now. The conundrum we have here is that if we raise taxes, we temporarily solve the problem by pushing the problem further down the road, but that then leaves you with less money of your own leftover to invest on your own behalf.
But, on the other hand, if we reduce benefits, then you get less money in retirement from social security. So what do we do? That's why i think, for an article like this, it's somewhat misleading to assume that you're going to have the entire social security benefit by the time you retire, because even if you do you're, probably going to be taxed more to pay for it, which kind of defeats The calculation in the article, the second - they assume that your income is going to be steadily increasing over time and that's not guaranteed to happen now. I will certainly admit if there is a crystal ball that would guarantee a certain amount of income for the rest of my life, no matter what it would be, a lot easier to plan ahead and spend accordingly, knowing that the best earning years are ahead of me. So i don't have to stress about buying a starbucks every now and then, but you know what life doesn't work like that i've seen both of my parents go from stable careers to unemployment in a year due to circumstances completely beyond their control, even though statistically you're, Most likely to make the most amount of money in your 40s - that's not guaranteed to happen for everybody.

The third sometimes life just happens. Now i realize that this goes both ways and there's no shortage of people out there who say that you could die tomorrow, but there's also an even greater possibility that you will live tomorrow in the day after that and the day after that, for many many decades To come, knock on wood uh, but that needs to be accounted for, even though it's fun to live life. Now, with the expectation that you could always save and invest more money in the future. You never know when the realities of life might come into play where you might be stuck with a big hospital bill or a big car repair bill, a failing business or a family to take care of, and it's important to have the savings and investments to fall Back on, if you absolutely need to point being, nothing in life is guaranteed, including that we'll even live long enough to enjoy our money.

One day - and i know it's kind of morbid to think this way. But if you're 20 years old right now you're going to have an 80 chance of living to 70 years old, a 60 to 70 chance of living until 80 years old and women have an almost 40 chance of living until 90.. So the odds are in your favor that you're gon na live longer than you think, and i think that's worth planning for and that's a good segue to talk about the more serious implications of this and why it's so important to start saving and investing as soon As possible - and that brings us to this article here - why half of americans over 55 may retire near poverty, but before i go into that, when wealthfront found out, i was making this video. They wanted to be a part of it and help more people build their wealth, long term and so they've decided to sponsor the video.
For those not aware. Wealthfronts is an automated investing platform that utilizes software to help you find the best portfolio to grow your money. Long term, but of course, by now you're, probably thinking but graham that sounds so expensive and i hate fees. How much is it graham and i'm glad i asked that question to myself.

Their fee is 0.25 of your portfolio annually, but in terms of the net cost to you, it could basically be fee-free or pay for itself many times over. Wealthfront utilizes a strategy called tax loss, harvesting, which works by selling off investments which have dropped in value and replacing it with a similar asset, thereby allowing you to take a tax loss, and that way those savings could be reinvested elsewhere to increase your return, this strategy Was found to have paid for the annual management fee up to 13 times over for the average client, and if your account is over a hundred thousand dollars, you get access to direct indexing where they literally buy every single individual stock. That makes up the s. P.

500, so that they could trade within the index at a stock level, providing you with even more opportunity and best of all, because they say you have a really good taste in youtube channels. Okay, they didn't actually say that. But i digress because they're awesome they've agreed to manage your first ten thousand dollars completely for free for the rest of your life. Just for trying them out plus their website is extremely simple.

It's easy to use and they make long-term investing as smooth as possible, not to mention i've been using their high-yield cash account for years, and i also get access to their free financial planning tools. That'll estimate how much you could be worth in the future and how you can further save and invest more money. So, if you're interested in signing up and learning more, like i mentioned, wealthfront has agreed to waive the advisory fees up to the first ten thousand dollars. The rest of your life, if you use the link down below in the description, so thank you guys so much enjoy and with that said, let's get back to the video.

So here's, the recent claim, half of americans over 55 years old might retire near poverty. As for what they consider to be in your poverty, they say an income of twenty thousand dollars a year which, if you have a paid off house, might not be that big of a deal, but for many it will be since the illness. Unemployment remains high. Many employers have had to reduce the match in the 401k, and people have had to pull from their retirement in order to cover daily expenses now to make matters even worse.
Americans over the age of 55 years old, were 17 more likely to lose their job than somebody younger and were slower to get rehired pushing many towards involuntary retirement if they can't find further work. That's exactly why the assumptions made in the first article were so misleading and, as we get older priorities will change. Things will come up and it's important to be prepared for that by saving and investing as soon as you can. Unfortunately, it's a bad situation all the way around, but that brings us to the ultimate debate live now or save for later.

I think, no matter what there's always going to be a group out there who says that you might get hit by a bus any day. Now so you may as well just live it up today, although i think you can enjoy your life today, but you must first budget, for it i'll admit, there's no point to being a hermit and saving money left and right just to finally live. Maybe one day when you're 65 years old, but there does need to be a balance and you shouldn't necessarily prioritize one over the other. If you've calculated how much money you need in the future, you're saving enough money and your expenses are reasonable.

Take a portion of. What's left over and spend it on things that really add value and enjoyment to your life now that does not mean take 90 of your income and spend it on starbucks and gucci, but if spending 10 means you get to travel and go places, you've always wanted To visit budget for that and then go and do that, but don't do that at the expense of your future self. Because anecdotally, i had no regrets by putting my head down in my 20s working non-stop and setting myself up for the rest of my life by saving everything i could and also i got ta say practically. It is so much easier to save money when you're younger.

It's a lot easier to keep your lifestyle the exact same and then save the difference than it is to spend a lot of money and have to save even more money in the future to pay for it, not to mention the money you save at 20 is So much more valuable than the money you save at 30.. Just consider this if you invest thousand dollars at 20 years old at an eight percent return you're going to have 217 000 by the time, you're 60.. But if you invested that very same 10, 000 at 30 years old, instead you're only going to have a hundred thousand dollars left over by the time, you're 60.. That literally means that 10 000 invested at 20 years old is going to be worth 117 000.

More than that same 10, 000 invested at 30 years old. That should really be enough to make you realize that you have two options: one. You can invest a smaller amount of money in your 20s or you could invest a lot more money throughout your 30s and 40s. Then, of course, in terms of how much money you need in order to live entirely off your passive investments, that is the million dollar question, quite literally, to do that.
We're going to be working backwards and i will assume you want enough in passive income to replace a 50 000 median salary here in the united states. So, generally speaking, the rule of thumb with this is that if you invest in an index fund, you're able to spend four percent of that every single year without running out of any money throughout your lifetime. So that would mean if you want fifty thousand dollars a year in passive income, you would need one million two hundred and fifty thousand dollars invested. But of course, sometimes because life happens, let's bump that number up to one and a half million dollars just in case something comes up or maybe you want to buy a first edition base set pack of pokemon cards and those are very expensive.

So if one and a half million dollars is the goal, here's how much money you need at what age to get there. If you're 20 years old, you're gon na have to save 416 dollars a month or 5 000 a year and by the time you're 60 you're gon na have over one and a half million dollars invested. If you do all of that within a roth ira, the entire amount is going to be completely tax, free and yours to keep. Now, if you start at 30 years old, however, you're gon na have to save 950 a month or eleven thousand four hundred dollars a year to reach that same one and a half million dollar amount by the age of 60., because you're also above the roth ira Limits some of those profits might also be subject to tax, and now, if you start at the age of 40, like this, article wants you to do, you're gon na need to save twenty three hundred dollars a month or twenty eight thousand dollars per year.

Just to be able to reach that same one and a half million dollars by 60 years old, so you tell me: would you rather save 416 dollars a month at the age of 20 or 2 300 a month at the age of 40.? That's something this article! Never really touched on, and even with consistent savings throughout your 20s, it's still possible to enjoy life and save some money for the future. Now, as far as what i think of all of this, when it comes to the first article, i would say it's nonsense: if saving for retirement makes you miserable, then you really need to evaluate what you're saving for what you want long-term and how much money you Need to make that happen, there's got to be a balance between being responsible, while also creating a life that's worth living and if you're not earning enough to do both, then it's going to be vital to increase your income cut back on the things that don't matter To you and learn new skills so that you're able to earn more money in the future, i think not. Saving for retirement in your 20s is going to be a huge mistake simply because it's a lot easier to invest in your 20s than in your 30s or 40s or 50s, and, if anything, i think not saving for retirement until 40 is going to make you a Lot more miserable than saving too much money by the time, you're 40 and that's something a chart will never be able to show now. As far as the second article about half of americans retiring near poverty, i agree that it's a huge issue that will need to be addressed.
We're going to have to deal with the reality that automation is probably going to take away a lot of jobs that there's simply not going to be enough to go around for everybody. Obviously, keeping up with your skills, continuing to learn and saving and investing consistently is going to alleviate some of the problem, but i think that's only going to go so far. The social security fund needs to be dealt with in a way. That's not just postponing the inevitable at some other point in the future.

Now, if i were to guess, i would say, there's no way social security benefits would be cut anytime soon. So the only likely scenario here is that taxes wind up going up so that we're able to fund it temporarily into the future, at which point maybe something better, comes along. That's why i believe it's best not to count on programs like this just in case and simply take matters into your own hands by saving and investing if social security exists when you retire, then that's great, that's a bonus, and if it pays out less then that's Okay, it's still a bonus, and if you get nothing at all, that's okay, too, because you are not counting on it. That's why i think the easiest solution overall is very simple: just save and invest as early as you possibly can and treat it like a budget like you would anything else, but just like you wouldn't skip on your rent payment, so you could go to coachella.

You shouldn't skip out on your roth ira contribution because you feel like doing something else. Instead by setting up good habits. Now it's going to be that much easier to keep those habits going in the future, so ignore stuff like this, keep investing and, most importantly, keep smashing the like button for the youtube algorithm and, like i said big, thank you to wealthfront for sponsoring this video and All of their information is down below in the description. So with that said, you guys thank you so much for watching.

I really appreciate it as always make sure to destroy the like button. Subscribe button and notification bell also feel free to add me on instagram. I posted pretty much daily. So if you want to be a part of it, there feel free to add me there.

As my second channel. The gram stefan show i post there every single day. I'm not posting here so if you want to see a brand new video for me every single day, make sure to add yourself to that. And lastly, if you guys want two free stocks, use the link down below in the description and weeble is going to be giving you two free stocks when you deposit 100 on the platform and those stocks could be worth all the way up to 1850 dollars.

So if you pretty much want free money, the link to that is down below in the description, let me know which free stocks you get. Thank you so much for watching and until next time.

By Stock Chat

where the coffee is hot and so is the chat

31 thoughts on “Why millennials should not invest”
  1. Avataaar/Circle Created with python_avatars Jamie Murray says:

    Nice video, I recently started trading the Crypt0 market and I've been earning greatly from it. Although I'm able to achieve that by investing with BRENDA MCLEAN a FINRA regulated broker.

  2. Avataaar/Circle Created with python_avatars James Goodman says:

    And here I am wishing I'd started investing at 20 when I started at 24. No one said I saved too much money and even if such a person existed I'd rather have too much money as opposed to living off what social security will be paying out when I'm 70.

  3. Avataaar/Circle Created with python_avatars Trina Octoberclover says:

    Can you do an update for best bank accounts 2021? Savings and checking. I watched your last one like this and all of the percentages decreased! Do you still love ally?

  4. Avataaar/Circle Created with python_avatars Carpaithian Forest says:

    The "never have to work another day in your life is flawed".
    If everyone did this, who is going to clean the streets, plumb the houses, stock the shelves? Investing is by its very nature, gambling. You are taking a risk with the hopes of getting more back than you invested.

    Stocks have winners and losers, what do the losers do when they have crashed out?

    Wouldn't it be more feasible to aim for making the minimum wage a living wage so that people who are working don't have to rely on risking their money on the hopes they can live a little better, or for most people these days, just trying to do better than survive.

  5. Avataaar/Circle Created with python_avatars Toni Ann says:

    You’re making me feel real bad for not seeing your videos when I was 20 😂 (almost 29 aka almost 30 aka a failure)

  6. Avataaar/Circle Created with python_avatars JUSTGIB says:

    The earlier you invest and focus on multiplying your money, the earlier you can stop being a slave to this world.
    People blow off investing until 40 and wonder why their retirement and other money accounts aren't what they truly want when it's time to retire.
    Always invest within the nest!!

  7. Avataaar/Circle Created with python_avatars iznodgood says:

    A lot of 20 years old can't save 400 a months as they have to repay their loans…

  8. Avataaar/Circle Created with python_avatars Neon says:

    raise the social security cap on taxes don't raise the rate

  9. Avataaar/Circle Created with python_avatars Christopher Conlogue says:

    Part of the problem is the consumerism brainwashing that pushes people to spend their money on stupid products: huge vehicles, latest version of electronics, massive televisions, daily fast food. Lower income families end up living paycheck to paycheck and never invest. Many end up working at low income jobs when they are senior citizens.

  10. Avataaar/Circle Created with python_avatars Southern Born Senders says:

    Intro idea: What's up guys, Graham here, if you could, launch a cryptocurrency and name it Graham Stephan, then infiltrate Tesla and then pitch the currency to Mr.Musk so he post about it on Twitter which really would help spread the good word for my channel.

  11. Avataaar/Circle Created with python_avatars James Edward says:

    One possible partial solution to SS: Everyone must op in or out at age 18 or whenever one starts working. If opting out then you don't pay into SS and you don't receive it…ever. If someone regrets that choice 10 yrs later then he/she can prioritize funding his/her own IRA account. If most opt out then a generation of us will get little benefits but maybe it's best to phase it out anyway and stress financial literacy sooner.

  12. Avataaar/Circle Created with python_avatars Robert says:

    Well for me im getting started at 19 while in college paid in full so any money I make is mine and I'm wanting investing 50% of all my money because as of now I have no massive bills.

    Does this seem wise or should I change it up?

  13. Avataaar/Circle Created with python_avatars TheGodPill says:

    Investing the younger the better, everyone knows that. Just because someone wrote an article or did a study doesn't mean anything. Money talks. Buy GME and AMC and bet the farm.

  14. Avataaar/Circle Created with python_avatars Little Earthquakes says:

    I'm 40 and I'm very happy that I consistently invested since age 21.

  15. Avataaar/Circle Created with python_avatars The Frugal Father says:

    Here is the comment for the algorithm. I hate the "like" ding that you use.

  16. Avataaar/Circle Created with python_avatars Danny Arias Jr says:

    Gen-Z/Millennials are also in the cusp of plenty of work to come. I work at UPS and in the first year i already got an opportunity to become a feeder truck driver for them at the age of 21 and that’s drastic because most go from warehouse workers to package drivers and won’t be able to become a feeder driver (which in CA hourly rate for feeder is $40/hr with progressions) until working as a package driver for 10-20+ years for a shot to get into it. And it has to do with a lot of businesses growing and many drivers retiring so there’s gonna be a lot of gaps to fill. Plenty of opportunities to come for Us to take on.

  17. Avataaar/Circle Created with python_avatars Abhishek Mukherjee says:

    One should invest in their 20s because later in their life the responsibilities add up and the bills multiply so less money to divide for assets

  18. Avataaar/Circle Created with python_avatars Nayeli Miranda F. says:

    You speak so fast 😅 but your videos are a great way to improve my English and learn another point of view 🤓👍. Gracias 🇲🇽

  19. Avataaar/Circle Created with python_avatars Justin Bocachica says:

    Learning a lot from just taking your methods and making them my own

  20. Avataaar/Circle Created with python_avatars Mera Mera says:

    This is why I literally only watch YouTube I don’t watch regular news.

  21. Avataaar/Circle Created with python_avatars J _ says:

    I’m 18 and as soon I get a job I’m gonna start investing 15% of my paychecks. I wanna retire happy!

  22. Avataaar/Circle Created with python_avatars Keen Heat says:

    I mean technically social security is generating its income from treasury bonds, which has insanely low yield. If they just invest in higher yield asset like S&P 500, then it can afford to pay more people with more benefit without raising taxes or reduce benefit . The price premium for low volatility of treasure bond is way overvalue imho. Especially if you compare the relative time ratio of bear market versus bull market. With modern asset instrument like vix index and inverse index etf, it can literally make money in a bear market, choppy side way market or bull market. Well you still have to identify these inflection points. Inverse index and volatility index were not as wide spread before the 2008 financial crisis.

  23. Avataaar/Circle Created with python_avatars Chaotic Gemini says:

    The Like button logo with a bandage on the thumb is a nice touch 🤣

  24. Avataaar/Circle Created with python_avatars Akhileshwari A says:

    God Bless you! 🙌 Thank you! Always enjoy watching you. Even though you speak so fast, I miss half of it )))))

  25. Avataaar/Circle Created with python_avatars Brayden Ursaki says:

    Bold of them to assume that I'm just investing to retire. My current goal is just building up enough to buy a car, and have all the maintenance/gas/insurance covered by dividend payments.

    I'm waiting on getting a more stable life before worrying too too much about retirement, and investments can help with that stability.

  26. Avataaar/Circle Created with python_avatars Hermite Seka says:

    Investing in bitcoin is the best investment anyone can do this season
    Because bitcoin investment has made a lot of people millionaires

  27. Avataaar/Circle Created with python_avatars lee jones says:

    Getting used to having whatever you want for 20 years until you're 40 and then suddenly switching to frugality and buying nothing is exactly what will make people miserable for the remainder of their lives. Life should get better as you go on, not worse.

  28. Avataaar/Circle Created with python_avatars golden bananas says:

    i am very lucky my grandpa and dad opened a custodial account when i was born and i will have control over it when i am 25 (18 at the moment) and it is worth a lot. also i am investing on an account with another broker so i dont have to wait to be 25 years old.

  29. Avataaar/Circle Created with python_avatars RTK Surplus says:

    Eh. I didn' start aggressively investing until 28 and I regret that decision. Investing is a muscle that has to be worked and built up over time.

  30. Avataaar/Circle Created with python_avatars OGE says:

    Just gotta say the “you are stupid” screenshot literally had me laughing out loud. Pure gold.

  31. Avataaar/Circle Created with python_avatars Roma says:

    Don't listen to financial advisors about personal finances. Listen to working professionals who are living the type of life you want to live. You're welcome, Anon

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