So you’re interested in buying an Apple laptop. Congratulations, a laptop is a big purchase so it’s very important to choose the right one. In this video I’ll explain which MacBook model is best for you in 2020.
Tesla invited me to their unveiling event of their brand new pickup truck called the Cybertruck. This was one of the most well hidden products ever. There were no leaks leading up to it which was really impressive on Tesla’s part so nobody knew exactly what to expect, but luckily I was there at the Tesla Design Studio to see them reveal it. This truck is insane!
Recently I’ve been inspired by minimalist filmmakers such as Matt D’Avella and Kraig Adams so I’ve tried to embrace the idea of minimalism when it comes to traveling with all of my tech gear. I’ve been lucky enough to travel to some of the most beautiful destinations the past few years (including Scotland, Moraine Lake, Switzerland, and Italy). Each time I’ve tried to pack my tech bag as efficient as possible so I can capture videos and photos because they make the best memories.
I grew up witnessing my family struggle and be stressed about finances. When I was around 9 years old I remember one month I was afraid to play video games because I overheard my mom saying something about not being able to pay the electricity bill.
In this video I’ll share how I went from a broke kid in college to being worth over a half a million dollars in my twenties. I’ll give you my best personal finance tips that I live by along with my favorite finance apps and my top learning resources so that you can hopefully build your net worth and live a more financially secure life.
Money can be a touchy subject and I don’t want to sound like I’m bragging, but I seriously believe one of the most important things in life is to avoid stress, and having a strong personal finance plan will definitely help with that.
Why is Personal Finance Important?
I come from a split lower to middle-class family. My parents divorced when I was a baby. My dad never remarried, and he basically lived off minimum wage my entire life. When I would visit him in the summer we lived in a camper with no running water. I’d have to go to my cousin’s pool to basically “bathe”.
The other 10 months out of the year I lived with my mom who was a single parent to 3 kids at one point. I lived in trailers most of my life and never lived in an actual house until I was a freshman when we moved in with my mom’s fiancé at the time because our mobile home was at risk of being repossessed.
My childhood laid the foundation for how I feel about money now, and as I started to grow up I tried to analyze the reasons for financial struggles and avoid them myself. Money definitely isn’t everything but it is one of the many important tools that can lead to a more satisfying life.
#1: Take advantage of software
Today’s apps have made personal finance so easy compared to what my parents had to do. Almost everything now (even our money) is just digital numbers on a screen so to optimize your money you should be taking advantage of all these useful apps which are usually completely free. These are all the finance apps and sites that I use to manage my money. I use Mint for budgeting and tracking my finances. I use Chase for mobile banking. For investing I use Robinhood, Betterment, and Wealthfront. I use CreditKarma to stay up to date on my credit score. I use Wave for business accounting software and PayPal to manage customer invoices.
That’s a lot of apps, but they all play a part in my personal finance plan. It’s super important to be able to quickly move your money around and automate it, and usually multiple apps are needed for that. The good news is that there’s one more app I use every day that’s just as important because it prevents me from worrying about my accounts and trying to remember all the different usernames and passwords. It’s the sponsor of this segment, LastPass, which is a password manager used by millions of people to simply their life and protect their identity.
I started using LastPass a few months ago after reading the new edition of one of my favorite personal finance books called “I Will Teach You to be Rich” after the author mentioned several times that he uses LastPass to manage his passwords for all his financial accounts so I started using it myself. It really is a life saver because it gives you one safe place to store all your login credentials, from your email to bank accounts to social media. LastPass makes it effortless to access all your online accounts and apps by securely storing any password you want it to, so you can spend your time on the more important things like managing your money. When you’re trying to improve your personal finance plan you shouldn’t be worrying about forgetting and resetting passwords.
#2: Always keep learning about personal finance
Education has been absolutely crucial to building my net worth, and the best thing about personal finance advice is that you can customize it to your own situation. Everyone has their own rules so what I tried to do is design my financial life using my favorite guidelines from many different experts.
These are some of the top resources that have either taught me about personal finance or made an impact on my self worth or net worth in some way. Podcasts include Listen Money Matters, Smart Passive Income, and Dave Ramsey. Books include I Will Teach You to be Rich, Think and Grow Rich, and How to Win Friends and Influence People. Websites include the Personal finance and financial independence subreddits. Blogs include Financial Samurai, NerdWallet, and Mr Money Mustache.
The sooner you start learning about the foundations that make up a solid personal finance plan, the quicker you’ll increase your net worth. Watching this video means you’re doing that so good job. When I first started, I eased into it by listening to Dave Ramsey during my commute and browsing the finance subreddits then I eventually started to read personal finance & self-help books and listen to business podcasts, all of which not only made me a better money manager but taught me how to be a more valuable person. So read books, listen to podcasts, take courses, whatever it is, just keep learning.
#3: Start earning, saving & investing as early as possible
I got my first summer job when I was 17 as a lifeguard that barely paid minimum wage. At age 19 I started working a part time job in my career field of Information Technology that paid $16/hour while I was still a full time college student. Luckily that position included benefits and I was so excited to have a future pension and 401k. Seriously, what kind of 19 year old is excited about retirement?
All the adults at the time told me to make sure I put at least 3% in my retirement so I could get the employer’s match because it was “free money”. And I’m so glad I did. I honestly wouldn’t be where I am today financially speaking if I hadn’t applied for that job and taken advantage of the perks that came with it.
It sounds obvious but try as early as possible to start earning, saving, and investing even if it’s just a little at the beginning, as long as it’s something it is always much better than waiting. And you don’t have to be a market expert or even choose individual stocks.
I recommend Betterment or Wealthfront because they are robo-advisors meaning they use a computer algorithm to help you invest your money the smartest way possible without having to think about it. They both have intuitive apps that walk you through a quick setup of any investment account including retirement accounts and they choose a diversified portfolio based on your age, income, and goals. They also have some of the highest-interest savings accounts so I recommend signing up for them just for their savings accounts even if you don’t open any other investment account.
#4: Debt is the worst; try to avoid it
My $500,000 net worth is broken down like this: Half of it is real estate and physical assets, and the other half is cash and investments. None of it is debt because I hate debt. Now, there is such a thing as “good” debt, and everyone’s opinion on debt is different. However, I personally avoid it at all costs.
I decided to save money for years to pay off my house and my car but had I instead invested that money I most likely would have a higher net worth right now. But I prefer having the peace of mind of not having any debt. I’m pretty risk averse so it just feels better to be debt-free even though I probably missed out on some potential ROI from the investments.
Of course almost everyone including me has to get a loan for something at some point. I’ve had to take out 4 loans in my life but for each one of those loans I exhaustively saved as much money as I could to pay those off as quickly as humanly possible. So it’s ok to need a loan for something as long as you have a plan and the ability to pay it off within a reasonable amount of time.
But do not get into credit card debt. Use a credit card to build up your credit but don’t let it build up debt. Always pay your credit card off each month in full. Now the absolute best way to pay off debt quickly is to have the money to do so which brings us to…
#5: Do whatever it takes to maximize your income
It’s no surprise that the biggest factor that led to my high net worth at a relatively young age is the extra money I made on in my spare time. Not only did I increase my income by working my way up the ladder at my day job by getting certifications and applying for higher paying positions, but my biggest income boost came from when I started earning money on the side.
In my early 20s I started dedicating a lot of my spare time to working on generating an income online mostly from YouTube. Not too long after that I started my own videography business, filming weddings for clients and creating videos for businesses. By working hard in my spare time to create extra income I was able to exponentially increase my net worth.
F ind out what you’re good at, learn about business, utilize the internet, or even go back to the basics and do simple things that can earn you extra money. Maybe drive Uber or rent our your house on AirBnB. Take the GaryVee route and hustle as much as possible. Stop watching TV and replace that time with working hard toward creating some type of income-generating business.
If you’re at a day job then learn how to increase your salary by negotiating your pay, applying for better paying jobs, earning certifications or completing courses that will lead to a higher salary. Go out and network, meet people. Some people say your “net-work” is your net worth because it’s super important to know the right people so you don’t miss out on any beneficial opportunities that may arise.
#6: Minimize life’s biggest expenses
There are 5 potential things in life that will cost you the most money: House, car, college, wedding, and kids. Try to take each one of those decisions very seriously and be patient with them. Don’t rush into any of those without thinking because it could be more costly than you can handle.
The cars I drove as a teenager were old hand-me-downs until I got my first career job and saved up enough money to buy my dream car at the time: a used $12,000 Pontiac and I researched for months before I found it.
For college I didn’t want me or my parents to go into debt so I chose to live at home and go to an affordable local community college for my Associate’s, then I got my Bachelor’s through their low-cost online program.
Once I moved out of my parents house I lived in a small apartment with 3 friends to minimize living expenses, and when I finally moved out on my own I chose a very modest apartment.
For my house I did the same thing. I took my time, stuck to a strict budget and requirements and tried my best to live within my means and not buy anything overly expensive.
For my wedding, my wife and I did a very non-traditional elopement style wedding. It was small and intimate and we tried to be as frugal as possible. My suit was $70 from Amazon. No joke. Nothing like an Amazon Prime wedding suit. And we filmed the wedding ourselves. And guess what? It was amazing. We had so much fun.
I think the total cost for both our wedding and honeymoon was no more than $10,000 altogether. And of course we are waiting for the right time to have kids which is probably the biggest expense for any adult. So take your time with those 5 big life decisions.
As for monthly expenses, I like to look at Mint each month and use the 80/20 rule to see the 20% of my purchases that make up 80% of my total expenses then try to decrease those as much as possible. Usually the biggest monthly expenses are things like insurance, food, restaurants, online shopping, and utilities. Decreasing the biggest expenses will make the most difference in the long term.
Some things you can do is shop around for different insurance to get the best rate, take your time to find the best deal online if you’re for sure buying something, switch to a different electricity plan if your company offers it, change cell phone plans. In the past year I’ve done a lot of those things and it goes a long way.
Remember, at the end of the day, money is just a utility that should be helping you live a happier life.
Try not to stress about money, and try to be intentional about how you manage your personal finance. It’s really quite simple when it comes down to it. To increase your net worth you just need to earn more than you spend. Easier said than done but still simple.
I also believe that if you take care of the little things then the big things will take care of themselves. Make sure you’re getting into the details of each one of these tips to make sure you maximize your earning potential while minimizing your big expenses as much as possible. Then let the software automate your money for you and all you have to do after that is be patient.
Good luck with your personal finance journey. Thank you for watching. I hoped this helped you out. If so please give it a thumbs up and share it with someone who would benefit from these tips. Subscribe if you want to see more videos like this in the future.
Right now, one of the most impactful up-and-coming technologies is self-driving cars. In fact, one of the main reasons I bought my Tesla Model 3 was because of its self-driving potential. In this video I’ll explain the basics of self driving cars, why the world needs them, and how one self driving car in particular is putting its own spin on an entire industry.
A self-driving vehicle, also referred to as fully-autonomous, is one that does not need human intervention of any kind and is completely controlled by some combination of computer software, hardware, radars, sensors, and cameras. It’s estimated by the year 2030 there will be approximately 380 million partially or fully autonomous vehicles on the roads. Elon Musk claims that within a decade, self-driving cars will be as common as elevators. But that’s pretty much expected from a guy who likes to take things to the next level. To better understand how self-driving vehicles will eventually take over all roadways, let’s briefly go over the 6 autonomy levels.
Level 0 is No Automation. This is when a human driver is solely responsible for operating the vehicle at all times. Most cars up to the recent past are level 0.
Level 1 is Driver Assistance meaning in certain driving modes, the car can either take control of the steering wheel or the pedals. However, the computer is never in control of both. Some examples are adaptive cruise control and parking assist.
Level 2 is Partial Automation which means the car can take over both the pedals AND the wheel, but only under certain conditions, and the driver must maintain ultimate control over the vehicle. An example of Level 2 is Tesla’s Autopilot.
Level 3 is Conditional Automation where the car can fully take over the driving responsibilities under certain conditions, but a driver is expected to retake control when the system asks for it. A Level 3 car can decide when to change lanes and how to respond to incidents on the road but uses a human as the fallback system.
Level 4 is High Automation where the car can be driven by a human, but it doesn’t ever need to be. It can drive itself full time under the right circumstances, and if it encounters something it can’t handle, it can ask for human assistance but will park itself and bring its passengers to safety if human help is not available. Level 4 is the first level that is truly self-driving. An example of this is the Google Waymo car.
And finally, Level 5 is Full Automation where a steering wheel is optional. At this level, the front seats might face backwards because the car doesn’t need any type of human intervention. The computer has full-time automation of all driving tasks on any road, under any conditions, whether there’s a human present or not.
Now that you know the different levels of self-driving vehicles, the big question is: Why does the world need them? Our first and most important reason for adopting self driving cars is safety.
According to Waymo, over 1.2 million people die on roadways each year. In the US alone, traffic collisions result in over 35,000 deaths per year, and 94% of US crashes involve human error. Mature digital systems in self-driving cars are designed and expected to be exponentially safer than human drivers. Self-driving vehicles won’t make the typical human mistakes like falling asleep at the wheel, driving drunk, having road rage, or texting while driving. A self-driving car will be able to make instant decisions based on not only calculations from its internal system, but all self driving cars will eventually be connected to each other sharing real-time data so if one car detects an object in the road, it will immediately share that alert with all other cars.
Another main benefit of self driving cars is savings & convenience. According to a study, Americans spent an estimated 6.9 billion hours in traffic delays in 2014. When self-driving cars are sharing real-time data about the traveling conditions and they are programmed to see and detect everything around them, there should be a big decrease in traffic congestion and wasted time. Self-driving cars will also give the elderly and disabled a huge amount of freedom to travel. In many places, employment relies on the ability to drive. One study suggests that self-driving vehicles could create new employment opportunities for approximately 2 million people with disabilities. Autonomous vehicles can also lead to saving money because owning your own vehicle won’t be necessary for many people when self driving cars will be constantly available for picking up and dropping off. An example of this is Tesla’s future Robo taxi service. Fewer accidents will also lead to saving on insurance costs.
Now that you know the biggest benefits of self driving cars, how do we get them here as soon as possible? Well, the best way is to support the advancement of self-driving technology. Some people, like me, do this by buying a Tesla. But not everyone has to do that. In fact, there’s a funner, easier way. It’s called Roborace, and it’s the world’s first racing series for humans and artificial intelligence. Roborace is similar to Tesla in that they’re trying to give the world a better future by making it exciting right now.
For example, Tesla’s mission is to accelerate the world’s transition to sustainable energy and they’re trying to achieve that by selling cool, fast electric cars. Roborace’s mission is to accelerate the development of fully autonomous vehicle technology and they’re trying to achieve that through gamification of driverless electric race cars. It’s similar to how car manufacturers in the past helped advance automobile technology like when Jaguar developed disc brakes for their racing cars in the 50s, they were so successful that they quickly attained mass widespread adoption which is what Roborace wants to do with self driving technology.
I do love how futuristic my Tesla Model 3 is, but do you remember the car from the movie Tron: Legacy? Well, the designer of that car, Daniel Simon, actually designed the world’s first fully autonomous self-driving race car specifically for Roborace called Robocar. It’s pretty much the closest thing you’ll get to a real life Tron car, but the best part is Robocar doesn’t need a human driver. In fact there’s no place for one on the Robocar. Remember autonomy level 5 and how a steering wheel is optional? Well, Robocar is actually level 5 ready right now. In fact, it utilizes slightly more technology for its self driving than Teslas do, mostly through a combination of lidar, radar, GPS, ultrasonic sensors, and machine vision cameras. All that data is processed by the onboard computer then the AI software determines how the car should drive itself. Not only is it designed for autonomy and aerodynamics with its teardrop shaped chassis, it’s also incredibly powerful mostly because of its 4 independent electric motors (which is actually 1 more motor than the 2020 Tesla Roadster has, and we know how powerful that will be)
By mixing the intensity of fast car racing with self-driving technology, Roborace’s goal is to provide a unique experience to viewers while simultaneously progressing toward the world’s adoption of full self driving technology in hopes for improved road safety for the future. So if you’re a supporter of Tesla you’ll love what Roborace is doing. This year is Season Alpha, and it’s the first time Roborace will have teams competing against one another at events all around the world. Each team will have access to the same hardware, which is a fully electric car called DevBot 2.0, that can be driven by a human or AI driver. This means the only differentiator is the AI driver software that the teams develop for the competition. Season Alpha aims to experiment with different formats and challenges that will push the skills of the teams and will be a sight to see for fans of electric cars and self-driving technology. If you’d like to learn more about Roborace and stay up to date on their upcoming events, check out the link in the description below.
I hope this video helped you learn more about how self driving cars will change the world for the better. It’s certainly an exciting time we’re in right now seeing all this cool tech coming to cars.
