Why Young People Are Poorer Than Ever | Humphrey Yang Leveling Up with Eric Siu

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

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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


(34:21) The influence of mindset on money


(35:44) Taking risks and privilege


(37:39) The benefits of living at home


(38:38) The power of saving and investing


(39:35) Evaluating the macro economy


(41:25) The challenges of the middle class


(43:12) The influence of gaming on life and business


(45:32) The role of YouTube in financial education


(49:45) The breakout of the YouTube channel


(57:27) The challenges of YouTube and momentum


(1:00:07) The business expansion and diversification


(1:04:06) Growing a newsletter


(1:05:01) Monetizing YouTube


(1:05:57) Crypto experiences


(1:08:15) Blind spots and risks


(1:10:24) Personal finance YouTube community


(1:11:47) Starting a business with minimal risk


(1:13:10) Podcasting and content distribution


(1:16:40) Charging for brand deals


(1:17:37) Controversial takes on personal finance


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