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Why Young People Are Poorer Than Ever | Humphrey Yang

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Synopsis

Humphrey Yang discusses the financial challenges faced by younger generations and offers insights on building wealth. He highlights the significance of saving and investing, recommending a focus on index funds. He explains the compounding effect of wealth and the benefits of reaching $100K net worth.  Watch the full interview here: https://youtu.be/V4iPHetTgaI Don’t forget to help us grow by subscribing and liking on YouTube! TIME-STAMPED SHOW NOTES:  (00:00) Introduction to Humphrey Yang (03:04) Opportunities for making more money (04:56) The benefits of job hopping (06:47) Personal experiences with job changes (09:36) Building wealth through saving and investing (13:16) How to become rich (19:19) Strategies to reach $100K net worth (21:13) The importance of owning assets (23:40) Asset allocation and real estate (25:30) Diversification and portfolio concentration (28:18) The role of financial advisors (30:37) The number one wealth killer: new cars (31:59) Money-saving hacks (34