when people introduce themselves they usually
talk about their jobs their families their passions one thing you rarely hear is their
money story which is their relationship to money
now ask yourself these questions do you
feel in control of your money are you organized who'd you learn from was money
a taboo topic when you were growing up do you like to manage your money yourself or are
you more comfortable trusting someone else and
if it's the latter is that because of a lack
of confidence a lack of time or just because you've told yourself you can't do it I look
at Financial Empowerment as a circular process
如果是後者，是因為缺乏信心、缺乏時間，還是只是因為你告訴自己做不到？我將財務賦權視為一個循環過程。
00:43
that covers earning spending saving and growing
your money where there's opportunities to move yourself forward in each of them but the ultimate
goal isn't so much to get organized or feel in
control but it's to move into the realm of taking
whatever money you have and growing it wisely in this course I'm going to review the
building blocks of personal financial
management I'll cover the basics of paying
down debts working up a good credit score what tools you can use to get organized and
help you prepare to be a confident investor
this video will outline a way of thinking beyond
the paycheck that enables a more productive and less fearful approach to money we all work for
multiple reasons making an impact in the world
following our passions expressing creativity
and of course earning a living interestingly many people are willing to talk about their weight
their love lives or their deeper Secrets but find
it very difficult to talk about their income the
goal in this video is to unlock your reservations we'll review three ideas that can help you think
differently about your income and conclude with
the golden rule of earning more the first thing to
consider is that even if you're on a salary stop thinking of your income as a fixed number but as
a number that grows as you grow my personal goal
when I first started working was to always earn
more next year it wasn't a specific number or tied to a promotion it was an expectation
of myself that I took responsibility for
remember salary increases are rarely given they're
earned and even more importantly they're asked for over the years I've done performance reviews
with hundreds of people all over the world and
one thing I've learned is that the people who
asked for more money were generally not the people who really deserved it they were
just more confident so make sure you ask second consider how you spend your time time
is truly a finite resource once you spend it
it's gone if you're actively looking to grow your
income start looking at how you invest your time spend time expanding your skills or finding
a mentor or taking classes or invest time in
figuring out where else your income can
come from or what do other companies in your industry pay into my previous Point how
can this all help you earn more next year third follow the money this is a recurring theme
in this series when you're paid to do something
where does that money really come from go upstream
and figure out who is paying your salary and how you are creating value for them rethink about
who your boss really is maybe it's not your
supervisor or the owner of the company but the
customer or the client who writes the checks understanding this leads directly
to the Golden Rule know your worth
主管或公司老闆，而是開支票的客戶。理解這一點直接通向黃金法則：知道你的價值。
03:43
your worth is not what you're paid but the value
that you bring when you know your worth you can negotiate you can confidently present your value
to your employers or your customers your worth is
also relative what do other people make for doing
the same thing have you taken on additional tasks that has saved your company money then quantify
it and pro tip don't wait until performance review
time make your case now later on in this course
I'll share with you advice on how to ask for what you're worth but for now remember you worked
hard for your money make it work hard for you
我會分享關於如何要求你應得價值的建議。但現在請記住，你努力賺來的錢，也要讓它為你努力工作。
04:24
when we use the word income the white collar
world thinks salary and if they're lucky there's a bonus or stock options and if they're
very lucky a pension or a retirement plan
but the world has changed and fast faster than the
vocabulary to describe work and income can move in this session I'll cover a different way
to think about your income including a more
contemporary view of income sources and your role
in making sure that you're getting paid in more ways than one the biggest positive change for
this generation of workers is that there's much
more transparency into how you're paid in many
countries the government has led the way into this new transparency with government workers
assigned rankings and levels and the salary bans within those levels are published and clear
you know where you are and you know where you're
going in this situation which is very different
to companies where opacity around salaries Works in favor of the employer which brings us to
a big negative change the onus is now on the
employee to investigate their worth and to make
the case for increments and a big part of taking charge versus leaving your income in the hands
of your employer is to be more creative or even
more aggressive with the types of income that
you can consider an easy way to put this into context for where you are and where you're going
is to ask this question who pays you let's look
at the possibilities there's the companies you
work for there's companies you've invested in there's people who buy things from you there's
people who pay for your time or services and then
讓我們看看可能性：有你任職的公司、你投資的公司、向你購買東西的人、為你的時間或服務付費的人。
05:58
there's people who rent things from you spend a
moment and list out who's paying you now and how you think you can be paid a few years from now
and I do hope that investment is on your list
during the sign up process for clients at
my business we have a two-minute Financial consultation that tells you whether you're
ready to start investing the general rule of thumb is that your expenses should be less
than all your income the key thought here is
that however much money you have you should be
looking into investing as a key to Growing your money over time remember in the US and in many
countries investment income is taxed at a much
lower percentage than salary which is why the one
percenters probably pay a lower tax rate than you the higher percentage of your income that's
investment income the lower percentage of tax
這就是為什麼億萬富翁的稅率可能比你還低。你的收入中投資收入的比例越高，你繳納的稅率就越低。
06:47
that you pay and a further thought on investment
income I go into more details in chapter four but the key thing to remember is that if the value
of your portfolio goes up that's not income not
unless you sell some or all of it and you realize
the gain income is in the form of dividends from companies and interest from bonds so let's say
you have a five hundred thousand dollar Nest Egg
除非你賣出部分或全部並實現獲利。收入是以公司的股利和債券利息的形式出現。假設你有五十萬美元的積蓄。
07:12
by the time your salary job goes away and you
expect to live off the income from that nest egg at a conservative four percent return
that's only twenty thousand dollars a year
當你的薪水工作消失時，你期望靠這筆積蓄的收入生活，以保守的百分之四回報率計算，一年只有兩萬美元。
07:24
I believe that the future is coming fast where to
have a side hustle will be the rule and not the exception salaries are becoming less predictable
as companies benefit from a flexible Workforce
putting the money you have to work through
investing is a side hustle that you can do while you're working hard at your job or jobs as
one of my mentors told me no one ever got rich
through their salary his point was that equity
in real estate or in your Investment Portfolio or in businesses Equity is the key to long-term
financial success empowerment comes with multiple
他的觀點是，房地產、你的投資組合或企業中的股權才是長期財務成功的關鍵。賦權來自於多重收入來源。
08:00
income streams even if they're a trickle at
first it's better than nothing longer term multiple income streams buy you options in life
investing your time attention and money in more
即使一開始只是涓涓細流，也總比沒有好。長期來看，多重收入來源為你買來了生活中的選項。
08:10
Avenues than just your primary career is a great
way to ensure that your income can grow long term there is so much anxiety wrapped up in our
relationship to money we all work so hard to
get it and it's so easy to spend it and every
day we're barrage with messages about what we should be doing which for many people just makes
you feel bad but it doesn't have to be that way
in this video I'm going to share a practical
perspective on tax time as well as ways to keep more of your hard-earned money the first thing
to consider is that tax shouldn't be a surprise
it happens every year and it certainly shouldn't
bring an unpleasant surprise where you have to write a big check as an aside you should know that
the tax rates on wages are generally higher than
tax rates on investments so if you're in a high
tax bracket your earnings from actual labor can be taxed at over 30 percent on the other hand your
earnings on Apple stock can be taxed as low as 15.
the U.S tax system definitely looks more
favorably on money earned through Investments my goal as an investment advisor is to get people
out of the day-to-day money-in money out cycle and
美國的稅制確實對投資所得更為友善。作為一名投資顧問，我的目標是幫助人們脫離每日進出的短線操作循環。
09:25
start thinking of themselves as investors the
sooner that happens the sooner benefits like tax advantages can start to pay off for you so
let's start with how to reduce taxes again with
the goal of saving money not to spend but to start
investing or to contribute to existing Investments there's three ways to reduce taxes first
are the income reductions you can lower
有三種方法可以降低稅負。第一是所得減項。你可以透過多種方式降低需課稅的收入。
09:50
the income that taxes assessed on a number
of ways contributions to IRAs and interest on student loans can generally be used to
reduce your income subject to earning limits
對 IRA（個人退休帳戶）的繳款以及學生貸款的利息，通常可以用來降低你的收入（需符合收入限制）。
10:02
employer-based flex spending accounts for
expenses such as Transit parking education and child care some can sometimes be
used to reduce your taxable income these lower your taxable income thereby lowering
the amount of earnings that you're taxed on
Second Use credits to reduce your taxes make
sure you check if you can get the earned income credit on your tax return the Earned Income Tax
Credit sometimes called eitc is a tax credit to
help you keep more of what you've earned to
qualify you must meet certain requirements and file a tax return even if you don't
owe any tax or you're not required to file an estimated 25 percent of people who qualify
for the eitc do not apply for it and you can
get accredited even if you missed it for
the last three years make sure you check there's also credits available for Education
child care and for savings they're geared to
people earning under fifty thousand per year
but check to see if you qualify for these last are deductions these are things you can
claim to lower your taxable income it isn't a
dollar for dollar benefit but it reduces your tax
by essentially showing you have less income to tax here's a list of things that can be used as
deductions interest on mortgages property
taxes state and local taxes charitable
donations and some medical expenses if you add up these deductions see if they're
greater than the standard deductions if they are
greater you should itemize your deductions
in your tax return it will save you money also be aware of other miscellaneous deductions if
they amount to over two percent of your adjusted
gross income you can claim them too these include
tuition dependent care tools for work magazine subscriptions fees you pay to get your taxes
prepared and expenses incurred looking for a
job confused absolutely this is confusing if you
qualify for a lot of the deductions and credits I've just talked about it may be a good idea to
get some help there's a lot of tax preparation
services online that are good and cheap many
have free tools to help guide you through some of the process and file some if not all your
tax return for free take advantage of them
but if things look super complicated get
a professional to help and get a quote up front before you begin your goal should be to
make sure the cost of the professional is less
但如果情況看起來超級複雜，請找專業人士協助，並在開始前先報價。你的目標應該是確保專業人士的費用低於
12:32
than the extra money you'll get back tax is an
inevitable part of life if you're just starting out on your working life now's a good time
to form good habits and if you've been doing
it for many years and dread it there's no time
like the present to look at it with fresh eyes the new year is a time when traditionally
people reassess where they are financially
and set goals for the year to come in this video
we're going to discuss a method of goal setting that's less about vague numbers that you beat
yourself up for later and more about practical
而是關於建立新習慣的實際步驟。所以，忘掉新年吧，想想報稅季。無論你是自己報稅，
13:08
steps to make new habits that stick so forget
the new year and think tax time regardless of whether you're doing your tax return yourself
or you have someone doing it for you take this
time once a year to reassess where you are
as much as this time is about reviewing the past year and literally paying your dues it can
also be a time for planning and setting goals
tax return times a great deadline to make a
commitment to yourself out of all the money you expect to earn in the next year
what are you going to pay yourself two things you need to do to figure that out
are one pick a percentage of your post-tax
income that you're going to save and set in place
a plan I recommend between 10 and 30 which sounds like a lot but remember you're paying a lot of
people before you pay yourself so let's flip that
thinking two maximize your pre-tax dollars and
invest as much as possible from that pool it's critically important to consider your pre-tax
dollars as well as your post tax take-home pay
the more pre-tax dollars you use the better
off you'll be let's say you're paying 20 cents on the dollar in tax if you invest after tax
dollars you have to get a 25 return just to
get you back up to that dollar well it can take
years to get a 25 return on a dollar which is why it's a total no-brainer to maximize
whatever pre-tax advantages you can get
if your employer has a tax-free plan in place your
goal is to get as many pre-tax dollars into these plans as possible and contribute whatever will
get you the highest match also known as free money
unfortunately one in three people who have
this option never take their employers up on it it's by no means a perfect system
but it's way better than doing nothing so take a moment and consider the coming year
whether you like it or not you're paying for your
housing your car your food your doctor's visits
your utilities your clothes and much more now instead of making them the priority make you the
priority I'm not saying don't pay your bills I'm
我不是說不要付帳單，我是說先付錢給自己，然後再看看你如何支付你的帳單。每一點小錢都有幫助。
15:16
saying pay yourself first and then look at how
you can pay your bills every little bit helps what's important is making that commitment to
yourself in the meanwhile try to ignore the many
fear-based messages leading up to tax time it's a
great time of year to reset your financial goals it's impossible to watch TV for
more than 30 minutes and not have
看電視超過 30 分鐘，不可能不會看到某個大型金融機構問你：你有足夠的錢退休嗎？
15:43
a big financial institution ask you
do you have enough money to retire their goal is to have people move their nest eggs
to them with a promise that they will work with
you to ensure that you too can spend your glory
years watching the sun go down from a beach chair these ads touch on a very core human fear who
will take care of me when I'm old but they're also
based on a flawed premise that work is something
that starts and stops on a predictable schedule in this video we're going to cover two things
you can do now to set yourself up for income
在這支影片中，我們將介紹兩件你现在就可以做的事，為你在不再從事傳統工作時建立收入來源。
16:17
when you're no longer at a traditional job
but first a thought to set the stage we need to reframe retirement or whatever we're going
to call it when the boomers are done that life
doesn't stop at 65 so why should your income
first think of people for whom retirement is irrelevant writers artists musicians designers
even religious instructors it's interesting that
careers that are callings don't have an expiry
date my point is not to become a writer but to think of the things that you love to do that
will pay you beyond the age of 65 and that you
can start to build beyond your current scope
of work for me I love to talk and I love to teach my goal is that I can share the benefits
of my experience and be paid for it will pass
I'm also a long-term investor
which certainly doesn't have a use by date My Hope for myself is that I'll have enough
assets to have a great lifestyle with income
to cover day-to-day expenses that's how I've tamed
my personal retirement monster the second thing to do is to get smart about investing if only to be
able to ask the right questions of the people who
manage your money the world is filled with experts
who are paid handsomely for their expertise on how to manage your money but they get paid first
remember the idea of follow the money follow yours
understand what you're paying for and what you're
getting in return just to have that knowledge will help you a lot in figuring out what to do now and
what to do later a hint for now is to roll over
any old 401ks into IRAs where you have a lot
more flexibility over what you can invest in the bottom line is that money can be overwhelming
at the best of times and combining it with the
fear of what happens to you when you're older can
create a retirement monster that seems untameable let's start with the premise that the current
view of retirement is a historical aberration
for Millennia older people have worked whether
it's in the home looking after grandkids growing their own food or practicing their craft my
grandparents generation certainly didn't have
the idea that at 65 they could put their feet up
this is very much a personal view of mine but I use it to illustrate a point we all spend money
till the day we die now that there's no jobs for
life and pensions are going away fast where's that
money going to come from a happy and functional third phase of your life is not something that'll
just happen as with all good things in life you
要從哪裡來？快樂且充實的第三人生階段，不會自動發生。就像生命中所有美好的事物一樣，你必須
18:49
have to make it happen and don't just rely on
a big financial institution who says trust a professional invest your time yourself to really
explore where you are and where you're going
I talk a lot about following the money and knowing
your worth but these things do nothing to help you increase your income if you don't ask in this
video we'll cover the Practical advice on how
to ask for more money first of all your starting
point is critically important if you're looking to break into a new job you have to make
sure that your initial salary is adequate
raises come in small increments and when you
move jobs it's unusual to get more than a 10 to 20 jump so you need to make sure you start as
high as you possibly can otherwise you'll always
be working just to catch up next it's vital that
you understand the context of your ask and what is happening behind the scenes at your company
specifically ask yourself these questions question
one how's the company doing are you expanding
and hiring new people or shrinking via layoffs if the company is shrinking you can still be paid
more in fact during tough times it's even more
important for companies to keep their high value
team members so never let that put you off asking question two how does a company see you are
you high profile respected and seen to be
contributing or do you keep your head
down in hopes that someone will notice question three do you have a skill that pays
a premium sometimes it's not the bosses that make the most money but the people who do
the specialized work that's hard to hire for
question four who makes the decisions about
salaries in many companies it's not the boss who has a final say but the finance team their
job is to keep to budget so at least understand
why you're getting a no if that's what happens
question five what time of year is it asking for a raise when the business is close to the end
of the financial year when every dollar counts
is really tricky question six is there a formal
review cycle do you know when conversations will happen or is it ad hoc either way don't wait
until your review to bring up your request
most businesses have budgets and people's salaries
are forecast usually at least a year in advance well-organized companies also have a pool
of money that's forecast to cover raises
but consider this if you expect to get a
15 raise but the company only forecasts three percent per person that means that you
took the equivalent of five people's raises
find out when your company does budget allocations
and have your conversations well before that date it was a surprise in my early years of being a
manager that I had to get many layers of approval
before I could give people raises and it always
came back to the same issue was there room in the budget and whether other people who also needed
significant raises so how do you go about ensuring
that you're being considered for an increment
first do your homework on your scope of work what were you hired to do and what are you doing
now the most powerful tool you have is a record of
the value that you add to the business if you're
saving the company the need to hire another person it's easier to justify an increment use online
tools such as glassdoor.com and payscale.com to
find competitive and comparative positions gather
data on what other people within your scope of work and experience are being paid and go a step
further ask your colleagues what they're being
paid but be warned that can be a conversation
that can change your view of your job a colleague once found that someone who was more Junior than
her was earning 50 000 a year more for a similar
scope of work that knowledge although valuable had
a very negative impact on her view of her company if you're lucky enough to work for an organization
that publishes salary data make sure you're clear
that what you're asking for is in line with what's
published next figure out who is best to talk to first conversation you have should be with
someone who's empowered and in your corner
接著，找出最適合洽談的對象。你的第一次對話應該找有權決定且支持你的人。
23:04
if you have a good relationship with your boss
or supervisor they can negotiate with HR and Finance on your behalf if you don't have a good
relationship you'll need to work much harder to show your value and your boss's word can undermine
all the hard work you've put in interestingly a
friend of mine who's a chief Talent officer for a
large global company says that every day she has people complaining about their compensation but
rarely do the complainers propose what it should
be don't be that person next have the conversation
remember this is a negotiation and one big rule of negotiations is that you shouldn't take a no
from someone who isn't empowered to say yes
don't be like Oliver Twist asking for more gruel
this is not a favor to be doled out but a business case to be made the top four points for you to
present are your scope of work and the increased
value that you bring comparative data from your
own company or your industry your commitment to the company and your intention to continue
to expand your role to bring increased value
來自自家公司或業界的比較數據。你對公司的承諾，以及你打算繼續擴展職責以帶來更多價值的意願。
24:08
and your number first think of what you think
is fair then add 10 to 20 to that number and that'll give you some room to negotiate down next
practice your conversation your pitch should be no
more than 60 seconds to cover those fall points
but have an extra few points ready should the person you're talking to want more detail make the
ask then stop talking don't leave the conversation
open-ended and clearly ask what the next steps are
and how you can help make them happen even if you get a no persist with requests for performance
review dates and insights into why you got the
no remember there's always a lot going on behind
the curtain it's often not even about you lost even if you get a no or you aren't able to secure
the money you want there are other ways for you to
benefit from your loyalty and contribution to your
employer instead of money you can ask for extra time off or have the company pay for courses or
continued education or perhaps ask for a flexible
work Arrangement or a more challenging assignment
or even a transfer to a different location all of these things can help you increase your
long-term earning potential there's a lot of
anxiety around asking for more money at work
it's tied so closely to our self-worth that it can be far more comfortable to wait but you
are your own Champion if you have a sponsor or
但你必須為自己發聲。若公司有贊助者或導師，可尋求他們協助，但最重要的是你得主動提出要求。
25:33
Mentor in the organization recruit them into but
the most important thing is that you ask foreign it's not how much money you earn but how much you
keep that is the key to your financial success and
the Delta between those two numbers is how much
you spend in this video I'll cover the idea of conscious consumption and how being more objective
about what you spend can help you long term
according to emarketer advertisers around the
world spent over half a trillion dollars last year marketing their Wares a third of that
180 billion dollars is in the US and of
that 36 companies all of whom you know well
spent over a billion dollars in media it's no wonder you want a shiny new car the way
that you feel about certain companies and
Brands and products it's no accident there are
brilliant people all over the world that spend their whole careers figuring out exactly how
their shampoo will make you feel energized or
但這不全是廣告的錯。人類天生喜歡與他人比較，這在過去艱困時期有助於生存——部落中弱者會被淘汰。
26:36
their gum will Empower your day or their
car will make you feel like a rock star but it's not all advertising's fault humans are
hardwired to compare themselves to others it
這種天性如今演變為「跟上瓊斯家腳步」（攀比心態）的現象。
26:47
helped us survive during much tougher times when
the weak ones of the tribe had to be left behind this hard wiring manifests itself now into the
syndrome known as keeping up with the Joneses
in the words of Will Rogers too many people spend
the money that they earn to buy things they don't want to impress people they don't like in this
chapter I cover tips on budgeting and managing
your credit cards they're the Practical
manifestations of controlling your spend in this video I'd like to explore the idea of
conscious consumption my goal with my business
is to turn consumers into investors and step
one of that transformation is for people to be more aware of what they're spending their money
on conventional wisdom says to pause before you
我的看法不同。我深信「跟著錢走」的理念，無論是職涯發展或更深入了解金錢流向皆然。
27:34
make a purchase research the options wait a
few days comparison shop you can do all those things but if they worked the average debt of
a household with credit card debt would not be
fifteen thousand as it is now my view is different
I'm a big believer in the idea of follow the money in both your career and in having a better
understanding of where your money goes you
work hard for your money everyone does and then
you give your money to companies for the things that you want and need those companies work hard
for your business but their primary responsibility
那麼，你消費的對象是誰？誰從中獲利？實際情況遠比你想像的複雜。
28:07
is their shareholders those brands that Empower
and energize and make you feel like a rock star they're working for the people who've invested in
them or to put it differently the outcome of your
hard work and the hard work of these companies is
making Mr Connecticut hedge fund manager richer so who owns the companies that you spend money
with and who's getting paid they're much more
powerful ways to be conscious of your consumption
habits than just pausing or price checking before you buy now do one more thing look around at
all of the stuff that's made it into your home
and into your closet how much of it do you truly
value how much is functionally important and how much is just stuff you could have done just fine
without or perhaps it's things that you wish were
better quality remember this mini audit the next
time you're shopping every dollar you spend is a vote for the companies that you're buying from
are they companies that you trust and believe in
or are you just buying out a habit your money
is enormously powerful use your votes well my favorite quote about budgeting is that
a budget can tell you what you can't afford
but it can't stop you from buying it
anyway in the previous video on why we spend we covered a few tricks for how to
resist the lure of the latest shiny object the next step in conscious consumption is
understanding how money flows in and out
of your household and making a budget to set goals
and track your progress against them the four main reasons to set a budget are to live within your
means to get out of debt to have money to invest
and to pay for bigger things like cars or vacation
or education or the latest must-have designer bag the entertainment world is filled with Scrooge
McDuck stories penny pinching millionaires who
are seen as an aberration but the reality may be
closer than you think the conscious decisions that you make about how you spend your money have a far
bigger impact on your long-term financial success
但現實可能比你想像的更接近。你關於如何花錢的有意識決定，對你的長期財務成功有著大得多的影響
30:11
one of the most powerful things you can do
before committing to larger items that need to go into your budget is shop around for example
a mortgage is probably the biggest financial
decision you'll make in your lifetime but only
25 percent of people shop around before making that decision the impact of a few percentage
points in interest can be tens of thousands
決定，但只有 25% 的人在做決定前會多方比較。幾個百分點的利息差異，可能會讓你損失數萬美元
30:32
of dollars that would otherwise be available
for your budget there are many free apps and browser-based budgeting tools available it's
well worth your time investigating how some of
these could help provide some structure to the
way that money flows through your households but not all households are the same so here's
different budgeting tools for different times
if you're sharing a home with roommates or a
family where you all contribute to the bills then you might want to check out box fur this site
specializes in group budgeting and shares expenses
between friends or roommates and tracks shared
bills couples could check out better haves for individuals there are many paid and free Solutions
one that's very user friendly is level money
there are a few other noteworthy tools out
there like mint which is a very widely used tool that can Auto categorize your expenses
and money strands which allows you to link all your accounts and create a 12-month spending
plan to get started I recommend you try a free
service first and get to know whether this
will work for you or whether you need to pay many of the free tools mentioned are based on the
envelope system a tried and true method from the
days when cash was King where households would
have different envelopes for different expenses food entertainment Bill savings and once the
envelope was empty you knew you'd reached a lemon
for the technologically challenged
envelopes are still a great solution but now with credit cards in our pockets it's a
lot harder to face the reality of empty envelopes so once again it comes back to you a budget
won't change a behavior only you can do that
step one to making a budget work for
you is to have a budget that you're comfortable with building in wiggle room
for emergencies and extra shoes if you can step two is not just stick to it as many advisors
would have you think but to be much more conscious
with your spending decisions both the little
ones like your daily latte and the really big ones like which neighborhood you live in or
public versus private education for your kids if you really want to dig into the psychology
behind the myth that is if you skipped your
daily latte you'd be rich I found the book Palm
foolish by Helen Oren to be extremely useful the best part of having a budget is that once you're
saving money and have some Investments underway
it's a great feeling to see your numbers go up on
a monthly basis there's nothing fun about paying down debts or trimming costs but it is essential
to provide the foundation for future growth and
buying yourself better options in life I'll leave
you with this thought that is very applicable to budgeting from the great Eleanor Roosevelt it
takes as much energy to wish as it does to plan
you're in the money now on if you ask old school
investment advisors what keeps them up at night it's the concept of wealth transfer the generation
that was able to buy a home for ten thousand
dollars and sell it 30 years later from million
they're retiring and they're starting to pass on the wealth that they've accumulated over their
lives is being inherited by their children and
正在退休，並開始傳承他們一生累積的財富。這些財富正由他們的子女繼承，
33:45
their grandchildren which is something that
gives these old-school investment advisors nightmares you see this next generation is far
less financially literate than perhaps they could be but they're spectacular consumers what does a
sudden big check from a recently deceased relative
let's say a hundred thousand dollars mean to
the average person if this was a game show these would probably be the top five answers new car
vacation payoff debts new house help out family
and friends nowhere in that list is invested and
certainly there's no sense of let's give it back to the financial advisor that helped Aunt Maude
with her money so you see where this is going
how you spend a windfall big or small will
speak volumes about your financial muscles the first thing to do is make a plan I know it
sounds terribly boring compared with the idea
of running to a jewelry store or telling
your boss at your quit but bear with me set aside an amount that feels too small like
you're cheating yourself as some fun it could be 10 to 20 percent of the amount now prioritize
what you're going to do with that money perhaps
set a budget of the 20 of the windfall you plan to
spend where will that go be clear about what you want to need and take some time before you start
writing checks in the meanwhile invest the rest
and before you stop this video right here
consider this if you were to win the lottery jackpot tomorrow you have a 90 chance of spending
it all within five years and then being back at
work and if that happens to people who win
unimaginable wealth what will happen to your windfall without some active management of your
behavior if you were to invest the majority of
your windfall especially for larger windfalls
it's possible you could live off the interest and income that your investment generates maybe
not buy your own plain lifestyle but one where
your options are far broader than if you did buy
the plane and end up broke in five years anyway the second thing to consider is that if you're
eyeing the assets of your relatives as your own
但你擁有的選擇會比你買了飛機卻在五年後破產要廣泛得多。第二件要考慮的事是，如果你把親戚的資產視為
35:49
retirement plan don't things change and they can
change quickly think of your inheritance as a bonus versus your core plan unless of course your
Malcolm Forbes who famously said I made my money
the old-fashioned way I was very nice to a wealthy
relative right before he died if you're holding credit card debt use your windfall to pay down as
much as you can it's such a terribly boring way to
spend money but as we highlight in the credit card
video the impact of getting rid of your credit card debt is the inverse equivalent of having an
investment that's paying 15 to 20 plus percent
planning for a windfall is different to
wishful thinking our instincts has finely trained consumers is to spend to upgrade to
enjoy ourselves should you be fortunate enough to have money come to you keep your present self
on the path that you're on unless of course you're
in dire Financial Straits and pay your future
self far more handsomely than your present self the last thing to consider is that if you're
handing over your windfall to someone else
最後要考慮的是，如果你把你的意外之財交給別人處理……
36:51
to manage you must be in a position to
ask the right questions as an investor it's your responsibility to know how much
your money is earning for someone else the
要管理好財務，你必須懂得提出正確的問題。作為投資者，你有責任了解你的錢為別人賺了多少錢。
37:02
first question to ask is how much in fees
will I be paying you the second question is how does my return on investment after
fees compared to the rest of the market
第一個問題是：我需要支付多少費用？第二個問題是：扣除費用後，我的投資回報與市場其他部分相比如何？
37:13
asking these two questions and acting responsibly
on the answers will do more to protect and grow your windfall than anything else you can do and
you don't even need to be Malcolm Forbes to do it
let's start with this credit can be a great thing
Credit in the form of consumer credit or credit cards allow you to borrow money in order to
finance the purchase of something that may
normally be Out Of Reach it's a great thing
if you need to buy a refrigerator or a couch the downside of credit cards is that they charge
an exceptionally High interest rate when I say
通常難以企及。如果你需要購買冰箱或沙發，這是一件好事。信用卡的缺點是它們收取
37:51
exceptionally high as an investment advisor I mean
you're flushing your money down the toilet High in this video I'll be talking about credit cards
their benefits and pitfalls and how to make sure
you manage them correctly and if you're like
50 of American households that have credit card debt I'll share some tips and tricks to help you
manage that debt currently the average interest
rate on credit card debt in the US is 15 when
you charge that against the average debt on a U.S credit card which is about fifteen thousand
dollars the average American with credit card debt
利率是15%。如果你以此計算美國信用卡的平均債務（約15,000美元），有信用卡債務的普通美國人
38:26
ends up paying 2 250 in interest every year and
if you miss a payment and your interest rate is raised to the Penalty rate of 29 you'll be paying
four thousand three hundred and fifty dollars
per year in interest that makes for some really
expensive fridges and couches credit card debt can be debilitating so here's some hard truths first
if you can't save money you really shouldn't be
using a credit card how are you going to pay off
your debt if you don't have money to pay it off next pay as much as you can if you're only paying
your minimum every month try to find a way to pay
如果你存不下錢，你真的不應該使用信用卡。如果你沒有錢還清債務，你打算如何償還債務？
39:03
more every month it will pay huge dividends in
the long run third if you use a credit card try only to use it for big purchases and have
a plan to pay it off as quickly as you can
finally your goal should be to pay off your credit
card in full every month that means you'd pay no interest in wouldn't that be great so it's tough
medicine I know but I'm not a big fan of credit
card debt so here's six tips to help you first
set up an auto pay it will ensure you don't miss a payment and have your interest rate shoot up
I auto pay my credit card once a week by paying
more frequently you can keep your average balance
lower it doesn't lower the interest you owe but it will help your credit rating a fact that not
many people know the U.S Credit Agencies only
want you to use 10 of your available credit
it's crazy but true keeping your balance as low as possible will make you look better to
Credit Agencies so when the time comes to take
out a mortgage or another big loan you'll get much
better interest rates and pay less for that loan second transfer your balance to a low interest
card sometimes these low interest cards are hard
to get if you don't have a good credit rating but
if you can shop around for lower rates if you can find a zero percent introductory rate for a three
percent transfer fee it's a great way to pay your
balance down and if you do transfer to a new card
do not cancel your old card your credit score drops when you cancel a credit card I learned that
the hard way so keep the card but stop using it
third consolidate your debt banks will sometimes
give you loans at a much lower interest rate to consolidate all your credit card debt
Unfortunately they may ask you to cut up
your credit cards when you take the loan but it
may not be a bad idea if you're swimming in debt fourth use all the benefits your card offers
use the price matching the cashback car rental
insurance extended warranties and loss protection
that your card offers spend some time reading the benefit summary of your card you may find
interesting benefits you didn't even know about fifth if you're close to paying your balance
off pay it all off if you have a thousand dollar
balance and pay off only 999 dollars you'll be
charged interest on the full thousand not the one dollar of remaining debt finally know the triggers
for fees and penalties missing payments going over
your credit limit and not paying your minimum will
all trigger penalties the most severe of these is a higher interest rate this can happen if you
miss even one payment and it's automatic after two
the good news is is that there's remedies to lower
your rate which your bank must tell you about if you don't know the penalty triggers for your card
talk to your bank it's better to know early than
too late all of this is enough to make your head
swim but the convenience of a credit card comes at a high cost and now with your card on file
at your favorite sites and payment through your
phone it's easier than ever to get into trouble a
last thought to leave you with imagine a scenario where you actually come out ahead by using
credit cards it is possible by choosing cards
that pay your rewards especially cashback and
paying in full each month you can make a small return on your spend but unless you're paying in
full each month the benefit of points programs
are nowhere near the cost that you're paying
an interest so if you're not paying off your full amount each month see my video on budgeting
for free online tools to help you manage the way
your money flows through your household and pay
down that credit card debt as soon as you can you work hard for your money and once you earn
it there's four places your money can go you can
家庭的資金流向，並儘快還清那筆信用卡債務。你努力工作賺錢，一旦賺到錢，你的錢有四個去處：你可以
42:58
spend it save it give it away or invest it in
this session we're going to talk about savings and the three steps that will enable you to think
differently about the value of savings in your
life first let's put your money into context why
should you save consider this every dollar you make and spend is part of the bigger picture of
the economy it's your spending and people just
like you that generates the value in the economy
not the banks or the factories or Wall Street it's you how much you keep of what you earn and
what you do with it is your own personal economy
it's one that you have control over there's so
much competition for your attention and for your dollars and unless you have a specific strategy
or plan it's all too easy for your savings to
become your vacation budget or the way you pay
for your car repairs so to get that plan together consider the Second Step which is how you save
the way many people manage their money is to have
separate savings and checking accounts checking
accounts are for your day-to-day spending the money you need for your life to run it's your
food car clothes home insurance entertainment
savings account are used to store what money is
left over they're promoted by the Banks as a safe place to save now they are safe but they're not
strategic to think strategically consider three
separate goals to have for savings emergency
savings short-term goals and long-term savings for emergencies it's important to have money
accessible the rule of thumb is to have three
to six months of savings should you lose your
income and you don't want to go into debt and if you're already in debt like 75 percent of
Americans it's still important to save so that in times of emergency you don't go deeper
into then short-term goals are the things
that you should not go into debt for taking a
trip upgrading your computer or holiday gifts these are higher cost items that you should
pay for by setting aside savings and long-term
savings is the money that you need to build the
future you want consider these investment funds by separating these three goals you can manage
yourself and reduce the temptation to dip into
emergency or investment funds for your short-term
goals the third step is where you save remember your money is powerful but when it's sitting in
a bank account your money doesn't do much for you
第三步是儲蓄的地點。請記住，你的錢很有力量，但當它靜靜躺在銀行帳戶裡時，它並沒有為你做太多事。
45:25
conversely for your bank your money does a lot
your bank lends your savings out to others and charges them interest if they lend it to someone
to use on their credit card for example they can
earn up to 25 interest or 25 cents on the dollar
for that privilege your bank pays you less than one percent or a fraction of a penny so using your
money your bank can make hundreds of times more
than what they pay you for using it your money
clearly has tremendous value and leaving it in the bank Beyond what's necessary for emergencies
is actually costing you money now as the cost of
living goes up your money should be working to
gain interest and not lose value the good news is is that there's instruments like certificates
of deposit government bonds and corporate bonds
that are relatively liquid but pay far greater
interest than savings account they may be a bit more complicated to set up but they're far more
powerful and profitable uses for your savings
這些工具的設置可能稍微複雜一點，但它們是讓你的儲蓄發揮更大力量且更有利可圖的用途。
46:25
getting smart about savings is a fundamental
pillow in long-term financial success you can change your financial future if you start to think
beyond the bank and put your money to work for you
in the next video I'll review better
ways to save that a low risk and pay much better returns with similar liquidity
and safety to your trustee savings account until then remember your grandparents were
right when they tell you you have to save
your money we just need to think beyond the
bank for the why how and where of savings in this video we'll explore options Beyond savings
accounts where your money can grow before we look
at these options consider the three F's of growing
your money first is FDIC which in the U.S is the government body that stands for Federal Deposit
Insurance Corporation most banks and credit unions
are FDIC insured which means that even if the
bank goes out of business the federal government will refund the money in that bank to you most
countries have an equivalent to the FDIC most
investment accounts however are not FDIC insured
or backed by government agencies hence investing is riskier than savings but it has higher returns
the next if and bear with me is fiduciary it's a
fancy word for an investment professional that has
your best interests at the core of what they do fiduciaries are bound by regulations to get
you the best price and recommend Investments or
savings products that are appropriate for your
age your financial status and your risk level it's an important word that you can use
defensively from now on if your bank is telling
you to buy a long-term savings product ask the
person if they're a fiduciary and are they acting in your best interest or are they just trying
to sell you something this question brilliantly
這個問題能巧妙地擋掉銀行行員大多數令人困惑的說詞。最後一個 F 當然是 Fees（手續費）。
48:21
deflects most of the confusing pictures from
your Banker the last if is of course bees most options for where to save have fees attached
to them it's your job to figure out how much these
fees will eat into your savings before you move
money into any savings option ask for a full list of fees is there a fee to open the account
is there a monthly maintenance fee is there an
annual paperwork fee is there a fee because it's
Friday fee and with this in mind let's look at where your savings can go while still being FDIC
insured I recommend that you keep your emergency
savings Fund in a place that's easily accessible
in case of emergency first up there's online savings plans like Capital One 360.
將緊急預備金存放在容易取用的地方，首先可以考慮像 Capital One 360 這樣的線上儲蓄方案。
49:07
they have
no fees no minimums and they're linked to your checking account for direct deposit but they only
pay at this point in time 0.75 percent interest so
let's say you put in a thousand dollars today in
one year's time you've only earned an extra 7.50 and in 10 years time compound interest builds it
up to 77 dollars but consider this the regular
savings account at one of the top three Banks
starts at 0.01 and tops out at less than 0.1 percent so you're earning less than ten dollars
on your one thousand dollar deposit in 10 years
so the safe option is only slightly more lucrative
than leaving it in a regular savings account Banks also sell CDs or certificates of deposit
the interest rates on these are locked in when
因此，這個安全的選擇只比放在一般儲蓄帳戶稍微划算一點。銀行也銷售 CD 或定存單，這些的利率在
49:59
you get them they're a good way to put money away
where you can't touch it but they're also priced right now with interest rates that are still
very low government bonds and corporate bonds
pay higher returns have variable time frames
such as one year five year or ten years and they generally have higher returns these can be
purchased through a trading account and they do
require more research they're not FDIC insured
but a bond is like a loan that the government or the company is legally responsible to pay
back to you except of course if they go bankrupt
and even then you're likely to get some of your
money back there are also New Kids on the Block like lendingclub.com an online marketplace where
you can deposit your money for other people to
borrow clearly this is on the riskier end of the
saving Spectrum your deposits are not insured and there's no recourse in case of default so look
carefully at where you're saving your money it
goes without saying that a checking account is
not the right place to organize your savings having savings on hand is a critical part of
Financial Health but it's not the best thing you
不用說，支票帳戶不是整理儲蓄的合適地方。手頭有儲蓄是財務健康的重要部分，但它不是你
51:05
can do for your financial future my recommendation
is to have enough savings to see you through three to six months in case of emergency
and then get busy with investing the rest keeping your credit score healthy is probably
more important than you may think when you apply
for a job or fill out a rental application or you
apply for a credit card or buy a car or apply for a mortgage your credit score will most likely be
checked bad credit can keep you from Landing a job
from getting an apartment and it may penalize
you with higher interest payments on loans to pay the least amount possible in interest
should be one of your lifelong financial goals
and to do that you need to make sure that your
credit score is as high as possible in this video I'll cover how you can track your credit
score as well as how to improve it over time
first thing you need to look at your credit
history every year you're allowed to go to all three credit agencies to look at your
credit history go to annualcreditreport.com
this is the only place for a free credit
history make sure everything is correct one big thing to look for are errors that may
indicate identity theft when an organization that
you have not had dealings with in the past year
has looked at your credit it may be that someone's trying to get credit in your name for this reason
alone you should carefully review your history and
if you see any errors make sure you get them fixed
there's a process on the side to remedy any errors once everything looks clean then find out your
actual credit score pick one of the three Credit
Agencies and buy a single score do not buy the
monthly credit watch they're not worth the expense Experian offers the FICO score which is the most
common score you can buy your FICO score as part
of the free annual report it's about twenty
dollars or some banks or cards may offer your score for free so the next time you're on the
phone with your bank or in a branch ask them and
make sure you ask if they do it for free there
are also services like creditkarma.com that in exchange for you sharing your bank details with
them they will give you your credit score free
now that you know your score you can track it
over time and make sure you track it from the same company then you can work to improve it so this
is how you do it these are the things that credit
rating agencies like to see first never miss a
payment missing payments will significantly reduce your score set up a direct debit and pay something
every month second have different types of credit
if you have different types of credit this looks
good so car loans mortgages credit cards and store credit cards are considered different credit the
easiest way to improve your score is to get a
store card and not use it third use only a small
amount of available credit the best scores go to people who only use 10 of their available credit
and who does that but there's tricks to it one is
to never cancel a card reducing your available
credit looks terrible also try to make payments multiple times a month this keeps your balance a
little lower than it would be if you kept piling
charges on until the end of the month also ask
to raise your credit limit it won't hurt your rating if they say no and then don't use the extra
credit Fourth Watch for spikes in your credit if
you hit your credit limit this looks bad so if
you have a huge item hitting your bill like a plane ticket move money onto your card before the
charge hits it'll keep your balance from spiking
fifth remember your credit history starts early
Credit Agencies like you having a long credit history there's not much you can do about
this just make sure you don't cancel a card sixth try to limit inquiries if you apply for
a lot of credit but don't get it it may affect
your credit score so apply for credit carefully
finally put money down one last thing you can do to raise a bad credit score quickly is to get
a secured credit card if you have spare cash
you can put it down as security against the credit
on the card so if you give your bank one thousand dollars they'll hold the money and give you a
thousand dollar credit limit on a card to the
Credit Agencies it looks like you just landed new
credit it's a great way to boost your credit score if you take the time to work on how you use
credit you can boost your score regardless
of where you are now the difference between the
lowest scores and the higher scores can be as much as three times the interest rates which for things
like a mortgage a lower interest rate adds up to
tremendous savings over your lifetime and like
all good things in life it's worth the hard work it's a question that comes up without fail at
every event where money is the topic what should
I do if I'm in debt should I pay it down and
start saving and investing or should I do both at the same time now if there was an easy answer
the whole financial event industry would probably
collapse in this video we're going to cover a few
different strategies of how to reduce debt while building your Investments and we're starting with
the premise that you probably have debt and you
probably don't have Investments beyond what your
work May provide for you to start consider what runs on the debt ladder you are this is a scale
of bad to good debt in accordance with the highest
to lowest interest rates most likely you'll
have some debt on a few rungs of this ladder there's mortgage federal student loans home equity
loans private student loans car loans and credit
card debt A good rule of thumb is the lower on
the later your debt is the faster you should work to clear it the top half of the ladder is
considered good debt has lower interest rates with
long-term benefits as you move down the ladder
the interest rates are costing you real money a factor that can change things considerably
for you is whether your debt has fixed interest
or variable interest with fixed interest you
can rest assured that your repayment amount is predictable with variable the rate will change
and your repayments are less predictable the next
thing to consider is your savings are you living
paycheck to paycheck do you have a small amount in your savings or do you have your emergency fund
put away if you're in debt it's important to have
emergency savings at the very least because if
something happens to your income you don't want to go deeper into debt as you secure your next
job the next thing to consider is the effective
因為如果收入出了問題，你不會希望在找到下一份工作前，債務狀況變得更糟。接下來要考慮的是複利效應。
58:05
compound interest it's the basic idea that you
earn money on your money compound interest works against you when you're in debt and it works for
you when you invest so let's explore that thought
if you have debt where you're only paying the
minimum due you're being charged interest on the interest and if you have Investments where you've
made money you'll earn interest on the money made
the last thing to consider before I talk
about the three strategies is that your life doesn't always go according to plan take into
consideration your job prospects your health your
family situation as you decide how to tackle
the debt reduction and savings plan for you strategy number one is the balance strategy as
long as you can afford it pay down an acceptable
amount of debt while putting money into savings
first your emergency savings and then start investing to make it happen set yourself up
with direct deposits remember smaller weekly
payments to your credit card via direct debit
both help your credit score and avoid the big monthly fluctuations in your bank account this
strategy reflects the Mantra of pay yourself first
這個策略反映了「先支付自己」的信條。
59:17
strategy number two is the focus on debt strategy
re-prioritize your spending in the short term to pay down bad debt as quickly as possible while
putting aside enough money to cover at least a
few months of expenses this may involve taking on
an extra job or an extra roommate or significantly cutting your expenses but the reality is that the
interest on your credit card keeps on mounting up
這可能涉及從事額外的工作、找個額外的室友，或是大幅削減開銷。但現實是，信用卡的利息會不斷累積。
59:41
and it takes real Focus to become one of those
households that pays their credit card bill in full each month your number one job is to
pay down the bad debts before moving on to
more focused saving and investing strategy number
three is the focus on growth strategy if you have debt but it's mostly good debt then incorporate
it as an expense in your life and get busy with
building your investment base yes you can save
money by paying down your mortgage faster for example but the earlier you start investing
the greater the returns over your lifetime so the short answer for most people on
whether to pay down debts or to save
是的，你可以透過更快償還抵押貸款來省錢，但你越早開始投資，一生的回報就越高。
1:00:20
and invest is to do both be mindful of how
money flows in and out of your household and optimize that flow to pay down your debt and
increase the savings and investing buckets
how much goes to debt reduction in your household
can only be determined by looking at the big picture of your financial life be ruthless about
how you spend money and be creative about how you
generate more and then create a plan that works
for you to check all the boxes of paying down your debts creating an emergency fund creating
savings and investing to grow your savings
然後制定一個適合你的計畫，以完成償還債務、建立緊急預備金、建立儲蓄和投資以增長儲蓄的所有目標。
1:01:00
so you have some money saved terrific that's a
huge First Step so what should you do with it in this video we'll talk about investment options
with each I'll talk about the associated risks
I'll start with bank accounts then move on
to bonds stocks and funds so let's start with bank accounts right now Banks pay less than one
percent interest on deposits and with fees your
money could actually lose value while sitting in
the bank not a good deal at all and we won't even talk about how much money Banks make off your
deposits so let's look at some alternatives Banks also offer certificates of deposits also
known as CDs these offer better rates of Interest
這完全不是一筆好交易，我們甚至還沒談到銀行從你的存款中賺了多少錢。讓我們來看看一些替代方案。
1:01:41
than standard checking or savings accounts CDs all
have fixed time lengths ranging from one month to several years the only problem with the CD is that
you must keep the money in the CD for the duration
if you withdraw it early you'll get penalized
many people find CDS too inflexible and the interest too low if you can handle a bit more
risk you should look at bonds bonds are basically
a loan that you the bondholder make to either
a government or a company for this privilege the bond issuer will pay you interest the nice
thing about bonds is that independent agencies
give every Bond a rating based on How likely you
are to get your money back so you can gauge risk very easily bonds pay a wide range of interest
and have various due dates which is the dates when
the principal is paid back the highest quality
bonds are called investment grade bonds and they pay lower interest rates but even these lower
interest rates can be attractive especially for
the low risk that they offer the lower quality
bonds funnily enough called Junk bonds pay the highest interest but have much higher risk levels
the nice thing about bonds is that you can easily
buy and sell them you don't actually have to wait
until they mature you can buy and sell them at any time for a small fee the one drawback to a bond
is that the value of the bond itself can change
in the worst case scenario the company that
issued the bond runs into financial trouble if that happens the chances of you getting your
money back for the bond decrease if you now try
to sell the bond early you may not get the full
value for the bond but that's the risk to reward of bonds they can pay higher interest than Banks
but you take the added risk of not getting as much
back as you initially thought now if you're okay
with more risk then stocks might be a good option stocks are actual ownership stakes in companies as
an owner you get to share in the profits through
dividends and sharing the growth of the company
through an increase in the value of the stock the price of a stock is the amount of money
that someone will pay for that stock at this
所有者，你可以透過股息分享公司的利潤，並透過股票價值的增加分享公司的成長。股票的價格是在這個
1:03:56
moment in time based on all the currently
known information about a company but the future is always unknowable so the true value
of a stock is unknown the true value of stock
is the current value plus the untapped
hidden potential that the company holds the goal of buying stocks is to find the stocks
that are undervalued and avoid the ones that are
overvalued this may seem like a very subjective
exercise but everybody has the skills to pick an undervalued stock we'll talk more about how
to value stocks in our next video but taken
carefully investing in stocks offers the best
year-over-year returns of any Financial instrument finally there are funds there are lots of funds
from mutual funds to exchange traded funds they're
a pre-packaged pools of bonds and stocks they can
be either actively managed where a manager Works day and night to improve the return of the fund
or they can be passively managed funds where the
manager sets the fund up and lets it run making
a few changes along the way because active funds are managed by an expert it's assumed that they
offer better returns this assumption is debatable
but what is true is that actively managed
funds are more expensive than passive funds index funds are a subset of passive funds where
the manager tries to mimic the performance of
the market itself so for example if you read the
paper and hear that the Dow was up one percent a dow Index Fund will also have gone up one percent
These funds have become very popular because they
don't try to outperform the market they try to
mimic the market and there really is a sense of ease that comes from no longer trying to beat
the market thus the popularity in our next video
I'll talk about risk value and confidence three
fundamental concepts in putting your money to work before we get started it's important to understand
right away that anybody can be a good investor if
you have confidence and manage your risk well
you can increase the value of your savings and you already have the tools to do this you already
make the same critical judgments that investors
make when you buy something you compare prices and
values you do your research you talk to friends you make judgments investing is the same you look
at prices values and risks and decide whether
it's a good investment or not a lot of very smart
people work on Wall Street making wealthy people and companies wealthier the interesting thing
is that nobody gets it right 100 of the time
許多非常聰明的人在華爾街工作，讓富人和公司變得更有錢。有趣的是，沒有人能百分之百正確。
1:06:35
investors who beat the market for five years can
miss the boat completely for the next few years in this video I'll go into more detail on
the basics of investing explaining three
key Concepts you need to understand risk value
and confidence the single most important concept that any investor must understand is risk the
higher the risk the higher the potential return
你需要理解風險、價值與信心。任何投資者都必須理解的最重要概念就是「風險」。風險越高，潛在回報越高。
1:07:00
and the potential losses and the inverse is true
the lower the risk the lower the potential return or the potential losses when you sign up for a
brokerage account or with an investment advisor
they must determine your risk profile which is
where you sit on the risk scale this is a measure that's determined in part by your financial status
your age as well as your self-reported openness
to risk you should know your risk and invest
accordingly so let's move on to Value the value for any investment is not the price an investor
pays the price is just the amount that an investor
pays at any given time value on the other hand is
an intrinsic measure that every investor places on an investment if the investor sees tremendous
value the current price will seem like a bargain
if little value is seen the price will be seen
as expensive value is therefore a measure of potential so for any investment there'll be a wide
range of values and only in hindsight will anybody
know the true value of an investment in order
to invest every investor needs to weigh risk against value this is the key to investing well
and it's the essence of what every investor does
為了投資，每位投資者都需要權衡風險與價值。這是投資成功的關鍵，也是每位投資者行為的本質。
1:08:16
doing this over time is what builds confidence if
you're confident about your decisions you stand a much better chance of making successful decisions
if you're committed to learning and you know your
隨著時間推移這樣做，能建立信心。如果你對自己的決策有信心，做出成功決策的機率就大得多。
1:08:28
limits you gauge your tolerance for risk and then
you make strong decisions and stand by them that is what will make you a confident investor
so instead of speculation investment becomes
an educated decision and you stand a much better
chance of making good Returns on your Investments now one thing to remember is that even the
experts get it wrong and with many aspects of
money there's enormous emotion involved one of the
best conversations to have with people who claim to have expert knowledge about investing is to ask
them their experiences did they grow up with money
to have they personally gained or lost are they
qualified or are they just investing themselves on the side these are all important things to
know before you take their opinion on investing
as fact and a bonus you get to learn more about
someone from their money story and within that their approach to risk now an important thing
to remember about risk value and confidence
is that none of these are static factors your
confidence will build as you gain insight into how you value your Investments and with that
your risk profile will change investing is a
lifelong journey the more you understand
about yourself and the market the better in the world of investment opportunities there
are many many ways to invest one important
你對自己和市場了解得越多，情況就越好。在投資機會的世界裡，有許多許多投資方式。一項重要的。
1:09:55
consideration is how to invest instead of open an
account and talk to a guy as a first step spend some time considering a strategy for yourself in
this video I'm going to cover both how to build
your own investment strategy and in the next video
I explore the different ways to make it happen now first as I've said I believe that with the right
tools anybody can be a confident investor as long
as you manage your risk and you're learning from
your decisions you can be a confident investor once you're ready you need to develop an
investment strategy and to do that you need to do three things first you need to decide how
much you can invest this is not about saving a big
number and getting busy investing then rather
consider what percentage of your gross income you can invest a good rule of thumb is eight
percent of your gross income but if you can
做三件事。首先，你需要決定你能投資多少。這不是指存下一筆大數字然後忙著投資，而是要考量
1:10:48
put away fifteen percent over your lifetime that
would make a huge difference the value of every extra dollar you save now will compound and will
be worth far more than the dollar you started with
你能投資你總收入的百分之幾。一個很好的經驗法則是總收入的百分之八，但如果你能
1:11:00
even more importantly make a commitment
to yourself that when you do make some extra money or get a raise increase your
percentage contribution to your investment second be very clear about how much of that money
you want to put away for retirement and when I
say retirement I mean the period of your life when
you're no longer on a salary or you're moving into a different phase luckily there's still systems
in place for most people in many countries that
encourage you to put money away for later and
an easy task you can take on in the meanwhile is looking into the funds that have been allocated
for you in your retirement accounts now you must
be sure you won't touch it until you retire or
you'll be penalized a terrifying 25 percent of Americans dip into their retirement funds and
they pay an enormous penalty to do so now this
而在此期間，你可以做的一個簡單任務是，了解你的退休帳戶中已配置了哪些基金。現在你必須
1:11:50
is important if you've maxed out what you can
contribute to tax friendly programs you can still invest on your own or through an advisor this is
where you can really learn and grow your portfolio
third decide how much risk you're comfortable
with many people new to investing are much more comfortable with not losing than winning your
risk tolerance will determine your investment
profile more tolerance for risk means more stocks
and funds and less tolerance means more investment grade bonds and remember your risk tolerance will
probably change over time as you gain confidence
第三，決定你能承受多少風險。許多投資新手更在意不要虧損，而不是追求獲利。你的風險承受度將決定你的
1:12:27
and knowledge these are the four options that will
be presented to you if you were to open an account with an advisor or broker do you want to earn more
than what you get with your savings account but
you don't want to risk what you have if so that
means your goal is capital preservation do you want to grow your Investments but get some income
along the way your goal then is income generation
do you want the value of your Investments to
increase and dividends are less important to you if so this means your goal is growth do
you want to take on higher risk at making
more money but know that you could lose some
of your savings if so your goal is speculation this is a foundation of how you build your
Diversified portfolio it's not that complicated
remember this course is about growing your
money I believe that the public markets which are stocks and bonds and funds are a great
way to put your money to work while keeping it liquid in the next video I'll explore
how to put this strategy into practice
也知道可能會損失部分儲蓄？如果是，你的目標就是投機。這是建立你分散投資組合的基礎，它並不複雜。
1:13:39
now that you have an idea of how you want to
invest where do you go that depends on how much help you need in this video I'll cover the
three basic options of how you can invest whether
you do it yourself use a traditional advisor or
use a more modern online advisor option one is a traditional advisor if you want to have someone
make decisions for you you need to find what's
known as a traditional financial advisor personal
references are a great way to find a financial advisor and don't just trust your accountant with
this job a good advisor must take a gauge of your
financial profile your financial goals and your
risk profile to come up with a financial plan advisors are great if you need a lot of help
they'll invest your money for you and here's
two questions to ask your advisor every year one
how is my portfolio performing versus the market performance and two how much in fees have I paid
you and then find out if the performance number
includes or excludes fees when an advisor's only
source of income as people like you it's good to know what Outsourcing is really costing you now
option two if you're confident in your strategy
是否包含費用 當顧問的唯一
1:14:49
then you can be a self-directed investor you
can open a trading account with a reputable broker and initiate your own trades it really
isn't as complicated as you might think most
那麼您可以成為自主投資者 您可以在信譽良好的經紀商開立交易帳戶 並自行發起交易 這其實
1:15:00
Brokers have reams of information about companies
bonds and funds and if you're okay with rolling up your sleeves and doing your own research a
self-directed account at a broker may be the best
option for you the biggest advantage of doing this
is that it's the least expensive option available especially with Brokers like Scottrade or trade
King who are at the lower end of the cost per
在經紀商開立自主帳戶可能是您的最佳選擇 這樣做的最大優點是 這是最便宜的選擇 特別是像 Scottrade 或 Trade King 這樣的經紀商
1:15:21
trade the industry average is around nine to ten
dollars cost per trade at companies like E-Trade and Schwab option three is digital advisors or
what the finance industry calls Robo advisors
they're an inexpensive way to get started with
a portfolio these are digital platforms that use an algorithm and other data to generate a
portfolio for you the last option are brokers who
offer Wealth Management Services these usually
are for people with wealth to invest so in the hundreds of thousands of dollars and upwards even
with this sort of money to invest the only caveat
for working with these kinds of Brokers is the
fact that unlike a registered investment advisor a broker is not bound by the requirement that he
or she must act in her clients best interest most
是 與註冊投資顧問不同 經紀商不受必須以客戶最佳利益行事的要求約束 大多數
1:16:08
Brokers do act in their clients best interest but
you do have to be a little careful to track what your broker does for example selling funds that
have a lot of fees attached whichever option you
choose remember that there's many wonderful online
resources where you can go to research and educate yourself investopedia.com is a great unbiased
place to learn about investing and it also
has a terrific virtual portfolio feature where
you compete against your friends or colleagues virtual portfolios are a great way to learn and
gain confidence morningstar.com is a good place to
get ratings for funds and Yahoo finance is a great
resource to see all the financial data and news on companies and stocks in the meanwhile remember
whatever you choose now will have an impact on
how you invest moving forward but it's not set
in stone many seasoned investors have multiple accounts some with advisors some with wealth
managers and then some on their own it's to the
never-ending frustration of advisors everywhere
when their clients won't share the wider details of their financial life but instead hold the
advisor accountable to the performance of the money that they're handling now that's the sign
of an empowered investor and proof that it's not
either DIY or Outsourcing that's the right answer
but selecting whatever method or mix works for you now you're ready to invest we need to talk about
fees the goal of this video is simple you worked
hard for your money don't just give it away the
simplest way to understand fees is to understand the more control you give to someone else the
more you pay the assumption is is that if you
不要隨便送人 理解費用最簡單的方法是 了解您給別人的控制權越多 您支付的費用就越多 假設是 如果您
1:17:53
let an expert choose your Investments and manage
your portfolio you'll earn greater returns which justify higher fees now whether this assumption
is true or not is Up For Debate there certainly
is no guarantee that experts will give you a
better return than the overall Market they even State this in their agreements when they say past
performance is no indication of future returns
尚有爭議 專專家保證能給您比整體市場更好的回報 他們甚至在協議中聲明 過去的表現不能保證未來的回報
1:18:14
there's a number of papers that backdest believe
the Center for Applied research found that only one percent of mutual funds between 1976 and 2006
beat the market after fees a working paper from
the University of Maryland found that in 2006 only
0.6 of equity mutual funds beat the market after fees to better understand this let's look at the
fees charged for mutual funds which are portfolios
of stocks that are actively managed which means
professionals buy and sell the holding within the fund the average management fee in the US is
1.25 on top of that there's also sales charges
12 B1 fees and sometimes Redemption fees does
this sound like a foreign language yes does it mean that you should ignore them no compare mutual
funds to an exchange traded fund these are funds
that are traded on an exchange like a stock and
like a mutual fund they're generally set up by experts but they're not actively managed they're
usually adjusted infrequently and for these funds
這是在交易所交易的基金，就像股票一樣，它們通常由專家設立，但並非主動管理，通常也不會頻繁調整。
1:19:19
the average fee is 0.53 but for some of the most
popular funds the fees can be below 0.1 percent now how does this impact you let's put some
numbers against these let's assume you invest
a hundred thousand dollars in the most popular
ETF right now the Spyder S P 500 for this you'll pay a 0.09 fee if you assume an eight percent
return which is the overall average return from
stocks recently after 30 years you'll end up with
979 000 dollars but if you assume the same eight percent return for a mutual fund that charges 1.25
annually you'll be left with only 689 000 after
fees the compounding impact of that small fee will
cost you more than a quarter of a million dollars over 30 years it's a staggering cost 1.25 may not
seem like much but it certainly adds up over time
now let's move on to the fees charged
by registered investment advisors for many advisors they charge an annual fee based on
account size the smaller the account the higher
the charge it can range from 1.5 percent down to
under one percent of your assets under management the benefit of this fee is that your advisor will
constantly tailor your Investments to your profile
over time which can be beneficial as you can earn
more money as your financial situation changes you can also find fee-based advisors who charge per
hour of service a basic assessment and portfolio
will cost between five hundred and fifteen hundred
dollars but any extra advice over time will cost additional per hour fees in our last video we
talked about digital advisors where you get advice
and portfolio management through an algorithm
versus a person these so-called Robo advisors of which I'm one charge much less most charge less
than one percent of assets under management some
like my business charge a subscription fee or
a flat fee these offer flexible services for a very small fee if you want to do all the work
yourself a self-directed trading account and a
像我的業務一樣，有些會收取訂閱費或固定費用，這些服務以非常低廉的費用提供彈性化的服務。
1:21:31
broker should cost nothing to set up and it'll
cost from five dollars to twenty dollars per online trade these offerings are very inexpensive
flexible and empowering but if you're not careful
and you trade frequently these fees can add up
and more than the trading fees living large on the high end of the risk scale can end up costing you
far more than the fees that you're trying to avoid
in my mind a Buy and Hold strategy is usually
the best policy for Investments that you're confident will continue to grow to make your
portfolio grow over time try to add to your
Investments with new deposits every month it
also makes sense to balance your portfolio every three months or so so if one stock is
substantially increased in value you sell some
of it so it doesn't take up too much of your
portfolio the full definition of rebalancing is more about keeping the ratio of different
levels of risk constant so for example if
your individual stocks have grown a lot you
can sell some and buy into lower risk bonds one of the stars of the financial Community
Jack Bogle created his company Vanguard out
你的個股已經大幅成長，你可以賣出一些，買進風險較低的債券。金融界的傳奇人物之一 Jack Bogle，因為對手續費感到沮喪而創立了他的公司 Vanguard。
1:22:37
of frustration with fees his math on active
fund management is simple and Brilliant and he expressed it as the magic of compound returns
is overwhelmed by the tyranny of compounding cost
or in more practical terms do you really
want to invest in a system where you put up 100 of the capital and you the mutual fund
shareholder take 100 of the risk and you only
get 30 percent of the returns his advice as is
mine is to be aware of what fees you're paying and wherever possible move your money out of the
high fee low performing funds if you're careful
