12 Years of Brutally Honest Financial Advice in 31 minutes
Video Overview & Insights
Sam is a CFP Professional and the founder of Millen Wealth Advisors in Canada. Sam runs a national practice:
This was good
Book an Intro Call: https://mwadvisors.as.me/intro
Visit our website: https://www.mwadvisors.ca
Thanks for watching - click subscribe and follow for more Canadian Finance Content!
In this video Sam describes what 12 years of experience has taught him about building and keeping wealth. It's a brutally honest video that everyone, whether you are wealthy or just starting out can learn something from.
Taxes are unfair. If I divorce, she deserves half as she “had” that money during the marriage. But if I invest while married, and her income too low, it’s “my” money for tax purposes.
Just another government financial incentive for single parent homes. Makes you wonder if anyone there knows what they are doing economically
Sam walks through his journey into finance and covers advice given by investing legends such as Charlie Munger, Ray Dalio, Warren Buffett and Benjamin Graham.
Sam also walks through evidence based financial practices, like goal setting, how to improve the odds of your financial success and why investors are usually their own worst enemies.
Man, I shared this video to all my friends here in Brazil. What a great straightforward video about finance!
Intro: (00:00)
You are in control(0:10)
Slow down
Addiction Kills Wealth (13:03)
Complexity is a Smokescreen (15:20)
I'm a Financial Adviser in Australia 🦘 (on the Australian Financial Adviser Register).
There is so much gold in this. 🥇
Thank you for making this well-produced video. 🏆
Much appreciated mate! 🙏🏼
Our taxes and retirement funds (Superannuation) are different from Canada's but any good Australian Financial Adviser should be able to help plan for those.
Taxes Matter More Than You Think(16:44)
Banks are Exploiting Your Trust (20:58)
Solid content! Might have to transcribe pre-decision questions to a PDF:)
Bad Financial Decisions Compound Faster Than Good Ones (24:48)
Human Capital & Investment Capital Diversification (28:04)
The entire secret is to have THE FIRST 10% of EVERY PAYCHECK auto-deposited into a ROTH IRA.
You’ll never miss it and you’ll be able to retire on your investments alone within 30 years.
More User Perspectives
This advice is mostly for men. Less for women.
@Moondogg7Wonderful Consolidated financial ideas in one video ❤
@SAMSAR12Send me a dolla I eat, Teach me about a dolla I eat
@DDZv2-ei2osGood video, audio sucks
@iamtoosexyformylifeAh yes, let's start with some cruel optimism shall we? Everyone can be rich and its your fault if you aren't. What nonsense.
@issaquaQuoting ray dalio lmao
@Username_CC_Imagine taking an animal and having a multi layered system when it comes to food and water
@AlManangoGreat breakdown but battling all these things is so exhausting. Sorry I don’t love being an analytical bean counter for fun, or get off on milestones like life is a video game. Jeez man, someone systemized everything and my organic body hates it in all layers
@AlManangoeven trying not to pay taxes too much makes more wealth to you. i tried and also simulated it in the countries like us, uk and my home country turkey. there is so much exemption mechanism in tax codes which has been put in the code by whealthy politicians to evade from them. when you try to use them, it converts your cash flow in to the wealth. i.e. if you buy a house with a debt instead of cash, you write off expenses and interest you paid from the rent. also if you sell the house after a while you can even write off interest as expense twice to the capital gain tax.
@niyaziugurEveryone talks about cashflow like is just like brushing your teeth.
Americans living paycheck to paycheck the only cash flow is to pay credit cards.
Great video! (feeding the algorithm, so that more people find this)
@inberthe dopamine addiction is soreal
@alifhakim6265Does this mean I cannot budget for a car? I'm a car guy. :(
That said: automating my finances so I don't get to think about it makes it a LOT better and has improved my cash flow significantly month-to-month.
I needed to hear all of this... Thank you. I'll give you a sub and a like
@chrisnelson3046Fantastic video! Commenting for the algorithm
@kimberlymiranda1854Good advices!
@darag11Thank you Sam for very informative info about discipline of savings especially one you talked about opening 3 accounts. This is so relevant cause this year my main goal is to be able to save and pay debt while continue investing on brokarage a/c. Im doing woth my daughter we have big student loan debt. 🙏
@MiminampendaYesuPay yourself first is worst advice ever
@bartz4439Index funds are the new mutual funds, god knows what 60% of them are indexing
@Helena-ou8ryWhat is an RSP
@maxwellwhite21:40 when I was 24 I finally got out of debt and had saved enough money to stop paying my $12 a month account fee. The bank told me I should put it in a high interest account. The $4000 would earn $3 dollars a month but cost $12 a month in fees. I pointed this out. The lady said “oh, I guess you are right”. I could see what was going on. At the time I didn’t even have my grade 12.
@Conway-Twitty1:49 I just stay fully invested, meaning, I invest EVERYTHING and pay the bills out of my margin
@RecklessRayDineroBrilliant
@ChitChatBFFI can tell you what i learned after 10 years of active investing. Dont do active investing. Do something incredible boring and with lowest return possible instead. Even if you like me made incredible return, it take too much time and effort. It is exhausing. Focus on this percent or two above saving account instead, listen every talking head on youtube. You wont have big money, but at least you wont lose money/your time.
@Everthus4Great video.
@robainsworth-618Absolute Gem and solid points. Earned a new subscriber
@ayodejiabe4180love the video! learned a lot but really felt the "you dont rise to the level of your goals, you fall to the level of your systems". it reminds me of the saying "you have to play the hand that your dealt" and focus on the actions i can do now to have the best possible outcome (i can set goals but life happens, and at least i can put myself in the best possible position incase something happens), also love the anecdotes and the tax advice. I dont have a business and currently in the saving/investing stage. is there such a thing as stages of wealth building? is there anything aside from saving and investing or is there another "stage"? ex. after maxing out registered accounts?
@Jason50000Just came across your video. Great stuff. Earned a new subscriber 👍🏼
@romancano5842The Richest Man in Babylon got me started on this journey 💪
@NANGSGARAGETop content. Answered a few questions I have on building a tax structure for your family. ✌️
@BrunoAlves-uy3slGreat books! (The first 5!) 🔥
@JamesRobertsonFCTotal Return > Cash Flows
@muffemodI wish more people knew how much control they have over their financial future. That’s why I share free resources through Breadwinner Financials — so nobody feels stuck.
@corendaferguson6421Great video!
@KydLivingMake this go viral, algorithm! 🙏
@ronnyrinThere’s probably no need for a financial advisor, just a common sense, disciplined investing strategy and a solid accountant.
The truth is, the strategy for 95% of the population with a net worth under $2M, just doesn’t need to be very complex to be optimal.
This is one of the most honest and practical finance videos I’ve watched. No hype, no shortcuts—just real lessons that actually matter long term. Thank you for sharing wisdom instead of noise.
@DailyFaithPrayerCindyTrimmGreat video. You have a new subscriber! :)
@samuelfrei4549This is awesome from start to end. Well done.
@StevenLippFFL🔥🔥🔥
@stevendouitsisYes!!!!! 🙌🏼
@AndrewGottselig