Former Financial Advisor: “Do Not Buy A House!” Do THIS Instead! @humphrey

1. 0:00 – 0:25

   Teaser

   1. HYHumphrey Yang0:00

      What I'm going to tell you right now is going to be very different.

   2. MMMarina Mogilko0:02

      What are the worst decisions people can make with their money in 2025?

   3. HYHumphrey Yang0:06

      Right now, I don't have that cash. It's all fully in the market.

   4. MMMarina Mogilko0:09

      How do you stay sane when the [chuckles] market goes down?

   5. HYHumphrey Yang0:11

      Ideally, I just keep all that money in the investing portfolio forever.

   6. MMMarina Mogilko0:14

      Let's talk about crypto.

   7. HYHumphrey Yang0:15

      Oh, I have a 5X. I want a 10X.

   8. MMMarina Mogilko0:17

      How complex everything is.

   9. HYHumphrey Yang0:19

      People saying you should sell everything.

   10. MMMarina Mogilko0:21

       And you do the same for your meme coin strategy, right?

   11. HYHumphrey Yang0:23

       Not financial advice.

   12. MMMarina Mogilko0:24

       Hey, guys.

2. 0:25 – 1:06

   Who is Humphrey Yang

   1. MMMarina Mogilko0:25

      Welcome to Silicon Valley Girl. It looks like 2025 is gonna be a wild ride for everyone who is interested in investing, starting a business, anything to do with finance. So today, we have a financial expert here, Humphrey, uh, who we're gonna talk to about building wealth in 2025, mistakes you can make with your money in 2025, and, like, general wealth-building advice. 'Cause I feel like for a lot of young people, it looks like 2025 could be a great year to start building wealth, especially when you see markets growing. It's like, it's a good place to start, right? [chuckles]

   2. HYHumphrey Yang0:59

      Yeah, exactly.

   3. MMMarina Mogilko1:00

      Everything's falling.

   4. HYHumphrey Yang1:01

      Yep.

   5. MMMarina Mogilko1:01

      Um, let's talk about that. Uh, can we start, uh, with, like, a general

3. 1:06 – 2:08

   Budgeting strategy for 2025

   1. MMMarina Mogilko1:06

      budgeting strategy for people in 2025, how much you save, how much you invest?

   2. HYHumphrey Yang1:11

      I'd like to say, for most people, that they should try to aim to save 20% of their income if they can. If they can do more, that's great, but most people... I think the average personal savings rate in the United States is about 4%, so if you can get up to 10, 15, 20%, that gives you a lot more flexibility, and that will help you save and invest more in the long run.

   3. MMMarina Mogilko1:31

      When you say save, like, okay-

   4. HYHumphrey Yang1:32

      Yeah

   5. MMMarina Mogilko1:32

      ... I'm putting aside 10%, does it stay as cash, or does it go into a high-yield savings account? What would be the strategy there?

   6. HYHumphrey Yang1:40

      Yeah, I would stockpile some cash until you have at least three to six months of an emergency fund saved up. So if your monthly expenses are $2,000 a month, that's what you need to live, you should at least save 6,000 or up to 12,000. Put that away. Put that aside. That's high yield. Put it in a high-yield account. You don't touch that money. That's just for emergencies. And then anything else you make on top of that and you can save, then you should invest that. That's the general guideline, yeah.

   7. MMMarina Mogilko2:07

      What should be the investment

4. 2:08 – 5:44

   Investing strategy for beginners

   1. MMMarina Mogilko2:08

      strategy for someone who's just starting out?

   2. HYHumphrey Yang2:10

      Yeah, so investment strategy super depends on the person's risk tolerance and their time horizon. So if they need the money next year, I probably wouldn't say you should invest, because let's say you need... Let's say you need money for a wedding, right? And you know you're gonna spend money on the wedding. If you invest that money and it goes down in value, you would probably feel pretty bad about it, and if you can't afford your wedding [chuckles] when you want to afford your wedding, that's not gonna be good. Let's say your time horizon is 40 years, so you want that money to be your retirement money. Then in that case, invest all you want, and you don't really have to worry too much about it. Kind of put it into the market and forget about it. Um, for most people, so I'm gonna get to the what you should invest in now, for most people, I think ETFs are pretty solid, and those are just exchange-traded funds. That just means you're buying one fund, and within that one fund, it encompasses, let's say, 500 other s- stocks within that fund. So by buying that one fund, you are buying literally 500 stocks all at once.

   3. MMMarina Mogilko3:08

      Do you just buy that fund, or is there a split, like, it has to be like-

   4. HYHumphrey Yang3:11

      Yeah

   5. MMMarina Mogilko3:11

      ... I need 20% international, an ETF that tracks Bitcoin, right? We just have-

   6. HYHumphrey Yang3:15

      Yeah

   7. MMMarina Mogilko3:16

      ... these.

   8. HYHumphrey Yang3:16

      Yeah.

   9. MMMarina Mogilko3:17

      What would the, the strategy be there? Let's talk about long term.

   10. HYHumphrey Yang3:19

       Sure.

   11. MMMarina Mogilko3:19

       Let's talk, like, 10 years.

   12. HYHumphrey Yang3:21

       So there are a lot of ETFs. You don't just buy a random ETF. You typically want to buy an S&P 500 ETF. That's the US stock market. You can balance it out with international ETFs, so the rest of the world has a ETF called, uh, I think it's, like, All World Minus US, so basically, it's like every- [chuckles] it's like every other stock in the world besides the United States, so you could do that, and then you could also balance it with bonds.

   13. MMMarina Mogilko3:47

       Investing, diversifying your portfolio should always be part of your life, regardless of how much money you have, because you're laying this foundation. Did you know that 88% of millionaires are self-made? That's right, 88%. According to Fidelity Investments, these individuals did not inherit their wealth. They built it themselves. So the road to wealth is not about how much you inherit. It's about what you can create, and guess what? 2025 is a great year to start a business. The first thing you need to do is to adopt entrepreneur's mindset, and every successful entrepreneur needs a website for their business. In 2025, I'm starting a new company helping kids eat healthy, and of course, I'm gonna have a website, and I will use Hostinger for this. Hostinger is the easiest and the most cost-effective way to get your business online and start earning more today. With Hostinger's business plan, you can build up to 100 websites and have access to cutting-edge AI tools, like AI website builder, AI writer, AI heatmap, and AI logo maker. Let's walk through it. First, you'll choose the AI website builder. It's perfect for anyone, no coding experience required. Enter your brand name, select your website type, and tell the builder a little about your business. Hostinger's AI does the rest. Watch as your website comes to life. You can easily customize your designs with a simple drag-and-drop editor. It's fast, easy, and professional. Need content? Use AI Writer to generate high-quality articles or blog posts in minutes. Looking for a logo? Let the AI Logo Maker create one that matches your brand's identity. Want to understand how visitors interact with your site? The AI Heatmap shows you exactly where people are clicking. Now your business is online, professional, and ready to succeed. Hostinger helps you take your idea and turn it into a real business, all for a fraction of the cost. Start your entrepreneurial journey today with Hostinger. Use the code Marina to get a discount for the business plan, and remember that 2025 is the year of change. It's time to build your future by yourself.

5. 5:44 – 6:37

   Three-fund portfolio

   1. MMMarina Mogilko5:44

      Um-

   2. HYHumphrey Yang5:44

      What's the percentage? Yeah, so a typical percentage, let's say you wanted a three-fund portfolio, which is a very famous portfolio. It's, um, a lot of people online like the three-fund portfolio because it's very well-balanced, as well as it does well in times of prosperity, but doesn't have as much downside risk.... uh, the, the typical split on a three-fund portfolio is something like 50% in US stocks, 25 to 30% in international stocks, and then the rest would be bonds. But sometimes bonds for a younger investor is not risky enough, so that's something you kind of have to balance and weigh with yourself. Like, if you're a riskier type of investor, you might do more in US stocks, 'cause US stocks are probably, uh, they have the greatest potential for upside, but they could also go down, too. Same thing with international stocks, yeah.

   3. MMMarina Mogilko6:36

      And

6. 6:37 – 7:30

   Higher-risk instruments with potentially higher returns

   1. MMMarina Mogilko6:37

      where does, uh, crypto, real estate, everything else fall into, like, how do you-

   2. HYHumphrey Yang6:41

      Yeah

   3. MMMarina Mogilko6:42

      - decide about those things? And, like, even individual stocks-

   4. HYHumphrey Yang6:45

      Yeah

   5. MMMarina Mogilko6:45

      ... 'cause Nvidia-

   6. HYHumphrey Yang6:46

      Yeah, I know.

   7. MMMarina Mogilko6:47

      That's, like, [chuckles] one of the best investments ever.

   8. HYHumphrey Yang6:49

      Yeah, so I think there's this... So we'll talk about how to build wealth, because what I just kind of laid out for you in terms of the three-fund portfolio is a very safe way to compound your wealth. But if you wanna build wealth faster, typically you need to take a little more risk, and the more risk could involve individual stocks. It could involve you getting into real estate. It could go- it could be that you buy some crypto. Um, but for the general person who doesn't really wanna spend too much time investing, the portfolio I laid out earlier is perfect. Uh, you might wanna add 5% in alternatives, like crypto, uh, or real estate. You could do that.

   9. MMMarina Mogilko7:23

      But then, so, like, 'cause I'm thinking about myself, like, what, what number do you reach when you start thinking about

7. 7:30 – 8:47

   When to start investing in the stock market

   1. MMMarina Mogilko7:30

      something alternative? Like, okay, let's say, I don't know, 100K invested in the stock market. Is that the time to think about other things?

   2. HYHumphrey Yang7:40

      Yeah, that's a tough question. I think you can always think about it, but higher numbers, better for thinking about other things, because the way capital works, you know, if you get 10% on 100K, that's a lot more significant than 10% on $100. So as your numbers and your portfolio balance grows, you can maybe set aside a portion of your portfolio to take higher concentrated risks, so that you could try to make more money faster.

   3. MMMarina Mogilko8:03

      But you never start with it, right? You start with-

   4. HYHumphrey Yang8:05

      Yeah

   5. MMMarina Mogilko8:06

      ... ideally, you start with something that's-

   6. HYHumphrey Yang8:07

      I, ideally, you wanna get your base up to at least $100,000, and then you kind of-

   7. MMMarina Mogilko8:12

      Mm

   8. HYHumphrey Yang8:12

      ... from there, maybe you take small, concentrated bets on things that you believe in. I think the danger of taking big swings when your portfolio is in, i- $100,000 already, is that you could, you could go to zero again, or it could be really demoralizing. Let's say you, you get your portfolio up to 50,000, and you spend half of it, and you put it into a individual stock that goes down 80%, then you're kind of right back where you started. Maybe, maybe you lost a few years of progress, and that can be really frustrating. So instead, what I like to see people do is get that momentum and keep that momentum going. Yeah.

   9. MMMarina Mogilko8:45

      Just invest, invest. How often do you

8. 8:47 – 9:12

   Investment schedule

   1. MMMarina Mogilko8:47

      check your balance?

   2. HYHumphrey Yang8:48

      Uh-

   3. MMMarina Mogilko8:48

      And how do you do regular investing? What would be your advice? Is it, like, manually or you can automate it?

   4. HYHumphrey Yang8:53

      You can automate it. So you can do something in your brokerage account or even your Roth IRA or IRA or 401 (k) , where you contribute a certain amount every interval. So typically, every two weeks is good, every month is good, too, but that's called dollar-cost averaging. You just wanna always buy into the market. Typically, people-

   5. MMMarina Mogilko9:11

      Is there a good

9. 9:12 – 9:36

   The main rule of investing

   1. MMMarina Mogilko9:12

      day? [chuckles]

   2. HYHumphrey Yang9:12

      [chuckles]

   3. MMMarina Mogilko9:12

      I know for crypto, weekends are good, right?

   4. HYHumphrey Yang9:14

      Uh, I don't think there's ever such thing as a good day.

   5. MMMarina Mogilko9:17

      No? Okay.

   6. HYHumphrey Yang9:17

      I think it doesn't really matter. As long as you're consistently investing, I think that, that's more important.

   7. MMMarina Mogilko9:21

      Um, does it buy into, like... So you auto- you tell it, like, every second Monday of the month-

   8. HYHumphrey Yang9:27

      Sure

   9. MMMarina Mogilko9:27

      - you buy this-

   10. HYHumphrey Yang9:28

       Yeah

   11. MMMarina Mogilko9:28

       ... this and that. And every brokerage can do that?

   12. HYHumphrey Yang9:30

       Most brokerages have that feature, yeah. It's just called recurring investment.

   13. MMMarina Mogilko9:34

       Can you recommend maybe two or three brokerage

10. 9:36 – 10:12

    3 recommended brokerage apps

    1. MMMarina Mogilko9:36

       apps?

    2. HYHumphrey Yang9:36

       Yeah, my favorite brokerages are probably Fidelity. That's, like, the biggest kind of well, most ca- one of the most well-capitalized brokerages in the United States. Um, another one I think that's very beginner friendly, that got a lot of hate in 2021, was Robinhood, but they've made a lot of improvements since. You just have to kind of be careful there. It's a little more gamified.

    3. MMMarina Mogilko9:56

       And do they have a automated?

    4. HYHumphrey Yang9:58

       They do have automated.

    5. MMMarina Mogilko9:59

       Yeah.

    6. HYHumphrey Yang9:59

       Yeah, you can automate it. And then some other ones, like Schwab is fine. M1 Finance is good, too. Um, in general, the bigger the, the brokerage, usually the better.

    7. MMMarina Mogilko10:08

       So you mentioned those different accounts.

    8. HYHumphrey Yang10:10

       Sure.

    9. MMMarina Mogilko10:10

       You mentioned, like, brokerage-

11. 10:12 – 13:15

    Pros and cons of starting a 401(k) at the beginning of your investment journey

    1. HYHumphrey Yang10:12

       Yep

    2. MMMarina Mogilko10:12

       ... like-

    3. HYHumphrey Yang10:13

       Yep

    4. MMMarina Mogilko10:13

       ... general investment, 401 (k) , Roth IRA.

    5. HYHumphrey Yang10:16

       Mm-hmm.

    6. MMMarina Mogilko10:18

       So if a person just starts investing-

    7. HYHumphrey Yang10:20

       Mm-hmm

    8. MMMarina Mogilko10:20

       ... and they're aiming for, like, 10 years-

    9. HYHumphrey Yang10:22

       Yeah

    10. MMMarina Mogilko10:23

        ... would you start a 401 (k) , or would you just put it in a brokerage account? Because 401 (k) , you can only start taking out money when you're, like, 70-something, right?

    11. HYHumphrey Yang10:30

        Yeah, I believe it's, uh, I think 401 (k) ... Sorry, I get, I get a lot of the, the accounts confused sometimes, but I'm pretty sure 401 (k) , you can start to take contributions out or, sorry, your earnings out at 59 and a half. But then they start requiring you to take money out around the age of 70 and a half.

    12. MMMarina Mogilko10:50

        Yeah, well-

    13. HYHumphrey Yang10:50

        I think that's required minimum distributions.

    14. MMMarina Mogilko10:51

        What's the general rule? Because when we started 401 (k) -

    15. HYHumphrey Yang10:54

        Mm-hmm

    16. MMMarina Mogilko10:54

        ... and we started only two years ago-

    17. HYHumphrey Yang10:56

        Yeah

    18. MMMarina Mogilko10:56

        ... because when I was talking to my husband, he's like: "Why would we just put money there?" And like, we're 34, like 33.

    19. HYHumphrey Yang11:02

        Mm-hmm.

    20. MMMarina Mogilko11:02

        "We're so active. Why don't we invest in business? Like, why would you invest in a 401 (k) ?" And I have my financial adviser, who was like, "Marina, you don't understand. Compound interest without-

    21. HYHumphrey Yang11:11

        Sure

    22. MMMarina Mogilko11:11

        ... tax, that's a writer for your business." So he's kind of making us contribute every year. But for me, psychology, again, I come from a country where we had so many turmoils, where our savings just disappeared. So what would be your general advice, like, do you start with a general brokerage account, or you go straight into tax savings strategies?

    23. HYHumphrey Yang11:31

        Yeah, that's a great question. I believe with your audience, which probably a lot of them are non-US based, is my guess, you're gonna have a lot of skepticism when it comes to the 401 (k) . That makes total sense. And sometimes it's better to take control of your own destiny and just, like, take that money and go buy a house with it or buy a rental property with it, and you can tangibly see the money there. I get that, too. The reason why the 401 (k) in America is so good is that it's a forced savings mechanism, so it forces people to save that normally wouldn't save. If you're already a great saver, like, let's say you save 50% of your income, and you are a better active investor, or you feel like you can do some business with it, maybe you do that instead.... uh, if you need the money in 10 years, like what you just said, then you probably wouldn't invest it in a 401 [k] [chuckles] because-

    24. MMMarina Mogilko12:20

        Yeah

    25. HYHumphrey Yang12:21

        ... you gotta take that money out eventually, and if you put it in a 401 [k] , you're not gonna be able to take that money out for years.

    26. MMMarina Mogilko12:25

        But you can borrow against your 401 [k] .

    27. HYHumphrey Yang12:27

        Yeah, you can borrow against it.

    28. MMMarina Mogilko12:28

        There are strategies.

    29. HYHumphrey Yang12:29

        There are some strategies-

    30. MMMarina Mogilko12:30

        Yeah
12. 13:15 – 15:43

    Rent or buy: which is better?

    1. MMMarina Mogilko13:15

       talked about saving, et cetera. Um, what about real estate? What about, like-

    2. HYHumphrey Yang13:20

       Mm.

    3. MMMarina Mogilko13:21

       Do you rent or... Do you rent or?

    4. HYHumphrey Yang13:23

       I currently rent.

    5. MMMarina Mogilko13:23

       Yeah.

    6. HYHumphrey Yang13:24

       Yeah, but in San Francisco, it's a lot cheaper to rent than to buy, so I live in San Francisco, the city.

    7. MMMarina Mogilko13:28

       Is there a general rule? So you said in San Francisco, it's cheaper to-

    8. HYHumphrey Yang13:31

       Yeah

    9. MMMarina Mogilko13:32

       ... rent. Like, how do you calculate that?

    10. HYHumphrey Yang13:34

        Well, I look at how much I pay in rent, and I look at the comparable amount that I would pay in mortgage and what type of house that would afford me, and f- for the same amount of rent, I would not be able to afford anything nice. It's just, like, I could get maybe, like, a one-bedroom condo, and I live currently in a two-bedroom, two-bathroom.

    11. MMMarina Mogilko13:53

        So you're not-

    12. HYHumphrey Yang13:54

        Apartment

    13. MMMarina Mogilko13:54

        ... following the rule where you live under your means, and-

    14. HYHumphrey Yang13:58

        No, I'm definitely living under my means, for sure. Yeah, but-

    15. MMMarina Mogilko14:01

        But not too low.

    16. HYHumphrey Yang14:02

        But not too low. Yeah, yeah. I mean, I still need space for, like, my studio, and, um, I realized I just kind of like a nicer place to live, so yeah.

    17. MMMarina Mogilko14:10

        But don't you have FOMO of, like, missing out on prices rising-

    18. HYHumphrey Yang14:14

        Yeah

    19. MMMarina Mogilko14:15

        ... here?

    20. HYHumphrey Yang14:15

        I do, here and there.

    21. MMMarina Mogilko14:15

        'Cause they double every 10 years, right, here in the Bay?

    22. HYHumphrey Yang14:18

        Yeah, m- mostly. Not San Francisco condo market. That's kind of-

    23. MMMarina Mogilko14:22

        Oh, is it-

    24. HYHumphrey Yang14:23

        ... stayed flat-

    25. MMMarina Mogilko14:23

        That's like-

    26. HYHumphrey Yang14:24

        ... in the last 10 years

    27. MMMarina Mogilko14:24

        ... a crazy market.

    28. HYHumphrey Yang14:25

        Yeah.

    29. MMMarina Mogilko14:25

        It stayed flat.

    30. HYHumphrey Yang14:27

        Yeah.
13. 15:43 – 17:00

    Investing in real estate

    1. HYHumphrey Yang15:43

       yeah, definitely.

    2. MMMarina Mogilko15:44

       Do you... Have you bought anything, or what's-

    3. HYHumphrey Yang15:45

       No

    4. MMMarina Mogilko15:45

       ... what's your plan here?

    5. HYHumphrey Yang15:46

       No, I want to buy something probably in the next year or two. So yeah, I'm still planning to, but mortgage rates right now are quite high-

    6. MMMarina Mogilko15:52

       Yeah

    7. HYHumphrey Yang15:53

       ... so waiting.

    8. MMMarina Mogilko15:53

       Are you gonna buy something to live in, or you're gonna rent it out?

    9. HYHumphrey Yang15:57

       I would buy something to live in, personally, yeah. I think I thought about renting things out, but I don't really wanna be someone's landlord. I think that's what I've realized.

    10. MMMarina Mogilko16:06

        Why not Airbnb, like, all the-

    11. HYHumphrey Yang16:08

        I don't wanna have to deal with it

    12. MMMarina Mogilko16:08

        ... depreciation things?

    13. HYHumphrey Yang16:10

        I think I feel like I could give- just make way more money focusing on my main-

    14. MMMarina Mogilko16:13

        With the stock market?

    15. HYHumphrey Yang16:14

        ... Or yeah, or just-

    16. MMMarina Mogilko16:15

        Yeah

    17. HYHumphrey Yang16:15

        ... focusing on my main business. Yeah.

    18. MMMarina Mogilko16:17

        Oh, interesting.

    19. HYHumphrey Yang16:18

        Yeah.

    20. MMMarina Mogilko16:18

        But you can have someone manage it.

    21. HYHumphrey Yang16:20

        I guess I could-

    22. MMMarina Mogilko16:21

        Yeah

    23. HYHumphrey Yang16:21

        ... yeah.

    24. MMMarina Mogilko16:22

        Okay. Okay, let's talk about-

    25. HYHumphrey Yang16:23

        I know you have an Airbnb, so-

    26. MMMarina Mogilko16:25

        No, like-

    27. HYHumphrey Yang16:25

        We can talk about it later

    28. MMMarina Mogilko16:26

        ... I'm just trying to understand, like, other people's strategies.

    29. HYHumphrey Yang16:29

        Yeah, yeah.

    30. MMMarina Mogilko16:29

        And I totally see how Airbnb didn't really do anything in terms of, [chuckles] like, income this year. It's just lost money, and, you know, it generated good revenue, but it still went to, like, covering the mortgage, et cetera.
14. 17:00 – 18:47

    Crypto: what to buy in 2025

    1. MMMarina Mogilko17:00

       crypto.

    2. HYHumphrey Yang17:00

       Let's do it.

    3. MMMarina Mogilko17:01

       [chuckles]

    4. HYHumphrey Yang17:01

       I like crypto.

    5. MMMarina Mogilko17:02

       I am so... [chuckles] Like, this year, I'm like, "Should I buy meme coins?"

    6. HYHumphrey Yang17:06

       Maybe you should.

    7. MMMarina Mogilko17:07

       Yeah, what do you think? Like, what, what would be the, what would be advice here?

    8. HYHumphrey Yang17:11

       Okay. My crypto advice from what I'm going to tell you right now is going to be very different from my YouTube channel. On my YouTube channel, my audience hates crypto. I've already tried to talk about Bitcoin. I've tried to talk about Ethereum. People are very anti-Bitcoin, Ethereum on the channel, and so, uh, I just tend to shy away from it on the channel. I think my personal opinion is that crypto is one of the best ways to kind of level out wealth in a way. It's almost like, like a meritocracy. So if you're able to identify really great coins and get in them early, that's like... People actually do make a lot of money with that. However, for every one person that makes, let's say, a 20x or a 50x on a crypto coin, you have 99 people losing all their money, and I think that is incredibly difficult. That's the incredibly difficult part about crypto, and with crypto, your greed gets imagine- like, unimaginably high. You get so greedy 'cause you're like, "Oh, I have a 5x. I want a 10x," and then, um, that's hard to manage emotionally.... And if you're in a- if you're buying a lot of crypto, you have to watch it all day because it's 24/7. It never stops. So there are a lot of mental issues, not mental issues I wanna say, but it ta- it takes a toll on your mind if you're investing in crypto. However, I have seen people turn a small amount of money into a large amount of money just by buying the right crypto coin, but even knowing the right crypto coin is tough.

    9. MMMarina Mogilko18:41

       And retiring at 20-something. [chuckles]

    10. HYHumphrey Yang18:44

        Exactly.

    11. MMMarina Mogilko18:45

        So how do you... Have you tried picking

15. 18:47 – 20:05

    How to pick meme coins to invest in

    1. MMMarina Mogilko18:47

       meme coins to invest in?

    2. HYHumphrey Yang18:48

       Yes, I have.

    3. MMMarina Mogilko18:50

       You have? How was it?

    4. HYHumphrey Yang18:51

       Some are great, some are bad.

    5. MMMarina Mogilko18:52

       How, what-

    6. HYHumphrey Yang18:52

       Net, I've- I'm up.

    7. MMMarina Mogilko18:54

       Yeah.

    8. HYHumphrey Yang18:54

       And n- I do-

    9. MMMarina Mogilko18:55

       This year?

    10. HYHumphrey Yang18:56

        Yeah.

    11. MMMarina Mogilko18:56

        You're doing it now?

    12. HYHumphrey Yang18:56

        Yeah.

    13. MMMarina Mogilko18:57

        So how do you find them? Through friends' chats?

    14. HYHumphrey Yang19:00

        Typically through friends' chats, yeah. I would say you have to be kind of plugged into a crypto community of some sort. You can do that by buying, like, let's say, let's say you have the most expensive NFT, right? Like, back in 2021, it was, like, a Bored Ape, right? They might have, like, a little insider group on Discord where you can kind of trade, trade, uh, ideas with each other. Um, the longer you're in the crypto space, the more you get to know the people on... In crypto. Sometimes there's crypto Twitter, so you get to know some of the influencers. Maybe if you know some of the influencers, that's great. If you work in crypto, right?

    15. MMMarina Mogilko19:34

        So it's mostly insider information.

    16. HYHumphrey Yang19:36

        Yeah, I think there is some insider information, but there's also just, like, keeping a pulse of what's going on in the crypto markets. And you can even make money not being an insider, but you have to keep a pulse on what's going on all the time. And you have to be able to move fast, and you have to be very objective and not get too emotionally, like, tied into it. That's what's, that's what's very hard. 'Cause even if you're right, if you're emotionally too invested, and let's say you stay in the coin for too long, you could lose all your gains, so...

    17. MMMarina Mogilko20:03

        So you track every single day

16. 20:05 – 20:24

    How many coins does Humphrey own right now?

    1. MMMarina Mogilko20:05

       what's going on, and if you see it going down, you just sell?

    2. HYHumphrey Yang20:08

       Something like that. I mean, I only- I'm only in, like, four coins right now, but I used to be in, like... If you're in 10 to 20, it's hard to track everything. But if you're just in four, then you just check every, you know, you just check the four.

    3. MMMarina Mogilko20:19

       What is the platform that you're using for-

    4. HYHumphrey Yang20:21

       Uh-

    5. MMMarina Mogilko20:21

       Or is it a different platform for every-

    6. HYHumphrey Yang20:23

       I have Coinbase,

17. 20:24 – 21:22

    Which platform to use for crypto

    1. HYHumphrey Yang20:24

       and then I have, uh, a Solana wallet on Phantom, and then I have a MetaMask wallet for my Ethereum transactions.

    2. MMMarina Mogilko20:31

       Okay.

    3. HYHumphrey Yang20:31

       So those are decentralized exchanges.

    4. MMMarina Mogilko20:32

       But all your coins... Yeah, I have MetaMask, I have Coinbase, but I remember when I was trying to play with meme coins in 2021, I had to get on so many exchanges 'cause-

    5. HYHumphrey Yang20:42

       Yeah

    6. MMMarina Mogilko20:42

       ... they're all so different, different platforms. You know, they only launched on this exchange, and you're like, "Oh, I need to transfer money there and convert it into some weird coin to buy another weird coin."

    7. HYHumphrey Yang20:52

       These days, it's a lot easier. Mostly, it's just on, like, either- you're either on the Solana chain or you're on, let's say, Ethereum or Base, which is Coinbase-

    8. MMMarina Mogilko21:01

       So Phantom for Solana, Coinbase...

    9. HYHumphrey Yang21:04

       Yeah. It's not financial advice, but, you know, if you're trying to get into it, that's what you would do, but it's very hard. I would say if you're completely new to crypto, you probably won't make money. You kinda have to have a good network of people that you already know. You kinda have to get into it a little bit, or maybe you buy into a community, something like that.

    10. MMMarina Mogilko21:20

        Okay, let's, let's do a

18. 21:22 – 24:56

    Recommended % of your portfolio to invest into Bitcoin

    1. MMMarina Mogilko21:22

       simple strategy then. Let's do Bitcoin.

    2. HYHumphrey Yang21:24

       Yeah.

    3. MMMarina Mogilko21:24

       Uh, what would be your recommended percentage of the portfolio that goes into Bitcoin?

    4. HYHumphrey Yang21:29

       Of crypto?

    5. MMMarina Mogilko21:30

       Yeah. Uh, no, uh, in general.

    6. HYHumphrey Yang21:32

       Oh, um, if you believe in crypto for the long term, which Bitcoin is the best asset of all those, I'd probably put 3 to 5% of your portfolio in Bitcoin.

    7. MMMarina Mogilko21:40

       Three to five. Remember how it was 1 to 2%?

    8. HYHumphrey Yang21:43

       It was?

    9. MMMarina Mogilko21:43

       You know, like, three or four years ago, I'd ask everyone, everyone would be like, "1 to 2%." Now, I think BlackRock increased it from, like, 2% to 4% in their portfolio, and, like, suddenly my financial adviser is like, "Yeah, 5%." Holy cow, interesting.

    10. HYHumphrey Yang21:55

        Yeah, 5%. I mean, 5% is not gonna kill you.

    11. MMMarina Mogilko21:58

        Then it goes to 10, then it goes to... [chuckles] It's, it's taking over. I just... It's like, it's wild seeing this trend and, like, people believing in crypto and then suddenly not believing. It's just such a-

    12. HYHumphrey Yang22:08

        Well, I think this year was pretty monumental for Bitcoin in particular because of the ETF and also a lot of these institutions adopting it. So I don't think Bitcoin's gonna go anywhere, let's say, in 20 years. Um, there was kind of the threat of the quantum computer chip. Did you see that?

    13. MMMarina Mogilko22:24

        No.

    14. HYHumphrey Yang22:25

        The, the Google, Google released, like, a quantum chip-

    15. MMMarina Mogilko22:27

        Yeah, I saw that, yeah

    16. HYHumphrey Yang22:28

        ... like, a couple weeks ago and, or maybe last week, and that kind of threatened Bitcoin because the whole idea was like-

    17. MMMarina Mogilko22:34

        Oh, 'cause it take a lot of energy to-

    18. HYHumphrey Yang22:37

        No, the idea was, like, the chip could just break crypt- uh, Bitcoin's encryption really fast. [chuckles]

    19. MMMarina Mogilko22:41

        Oh.

    20. HYHumphrey Yang22:42

        But-

    21. MMMarina Mogilko22:43

        It didn't?

    22. HYHumphrey Yang22:43

        No, it's not gonna happen, not yet, at least. I think that was, like, a, uh, a fleeting rumor or fleeting news, so that Bitcoin's price reacted a little bit, but then it just went back up.

    23. MMMarina Mogilko22:57

        Okay, so the, the strategy would be, okay, if it's 5%, and you don't wanna get on those exchanges, you can just basically buy an ETF through whatever-

    24. HYHumphrey Yang23:05

        Yeah

    25. MMMarina Mogilko23:05

        ... like Fidelity, right?

    26. HYHumphrey Yang23:07

        Yeah, you can get exposure through an ETF like Fidelity, yeah. The, like, Fidelity has their own ETF for Bitcoin, and they back it up with Bitcoin, so they buy Bitcoin to back their ETF, yeah.

    27. MMMarina Mogilko23:18

        That's great.

    28. HYHumphrey Yang23:19

        Yeah.

    29. MMMarina Mogilko23:19

        And if you have, say, $10,000 that you would put into crypto next year-

    30. HYHumphrey Yang23:24

        Okay
19. 24:56 – 26:06

    The worst financial decisions people can make

    1. MMMarina Mogilko24:56

       and do things with their money in 2025?

    2. HYHumphrey Yang24:59

       Yeah, so I really think it's, like, think about the things that kill your wealth early on, like, before you get to $100,000 in net worth, or let's say a big milestone, like, 50,000. If you kill your wealth shopping, doing dumb things, buying a new car you don't really need... Like, your, your case might be different. You might need a new car, and you have the funds that you could afford a new car.

    3. MMMarina Mogilko25:20

       You know-

    4. HYHumphrey Yang25:20

       For a lot of people-

    5. MMMarina Mogilko25:20

       ... we spent, like, two hours yesterday with my husband, debating if $10,000 is worth saving, buying the new Model Y-

    6. HYHumphrey Yang25:26

       Mm

    7. MMMarina Mogilko25:26

       ... or the old Model Y. And I'm like, "With the new, you get the service-

    8. HYHumphrey Yang25:30

       Yeah, sure

    9. MMMarina Mogilko25:31

       ... you have the warranty and all of that." And I'm like: Is it worth the headache? But I could invest 10K in Bitcoin.

    10. HYHumphrey Yang25:36

        Sure.

    11. MMMarina Mogilko25:36

        It's just so hard to make those decisions.

    12. HYHumphrey Yang25:38

        Those decisions are harder the less money you have, right? Like, actually, they're easier the less money you have, which is, like, if you don't have that much money, don't spend 10K on, on the-

    13. MMMarina Mogilko25:49

        Yeah

    14. HYHumphrey Yang25:49

        ... new Model Y when you can buy the old Model Y.

    15. MMMarina Mogilko25:50

        How do you make those decisions? Do you come, come up with an Excel spreadsheet or-

    16. HYHumphrey Yang25:54

        Hmm

    17. MMMarina Mogilko25:55

        ... and, like, calculate the NPV?

    18. HYHumphrey Yang25:56

        That's harder. No, that's definitely harder to make that decision, like, off the bat with, with, like... You kind of have to know your own personal situation, but your monthly payments

20. 26:06 – 26:50

    When you should sell your car

    1. HYHumphrey Yang26:06

       or your monthly payment for transportation should not be more than 10 to 15% of your gross income. So all of a sudden, let's say you make 50K a year. If your car payment is, like, $800 a month, like, that's clearly a poor financial decision.

    2. MMMarina Mogilko26:18

       And then there's insurance-

    3. HYHumphrey Yang26:19

       Yeah. Oh, yeah

    4. MMMarina Mogilko26:19

       ... and then there's the registration fee, which is-

    5. HYHumphrey Yang26:22

       Exactly. So I think a lot of people spend too much money on cars. That's typically a wealth killer, especially early on in your wealth-building journey. And in America, it's very common, right? That thing, everyone wants a fancy car and then credit card debt, anything that's slowing down your wealth building. I think that before you get to a milestone number, you should just be as frugal as possible and just get there quicker. 'Cause the quicker you get to that bigger number, the better that money will compound for you, let's say, invested.

    6. MMMarina Mogilko26:48

       Do you ever sell? Because

21. 26:50 – 29:57

    When to sell stocks

    1. MMMarina Mogilko26:50

       if you see the market is all-time high, you're kind of tempted to sell, and you're like, "Oh, let's sell, wait for another dip, or use this, um, upside to just finance my lifestyle this year and maybe not work."

    2. HYHumphrey Yang27:03

       Yeah, I mean, I... Okay, so my ideal holding period is typically forever. That's the best holding period, but sometimes, like right now, all my cash is fully deployed into the market.

    3. MMMarina Mogilko27:12

       Mm-hmm.

    4. HYHumphrey Yang27:12

       So I have, like-

    5. MMMarina Mogilko27:13

       All of your... What about your-

    6. HYHumphrey Yang27:14

       I have my emergency fund and, like, my business bank accounts.

    7. MMMarina Mogilko27:16

       Is it for business or just-

    8. HYHumphrey Yang27:18

       Both

    9. MMMarina Mogilko27:18

       ... your personal?

    10. HYHumphrey Yang27:18

        I have both-

    11. MMMarina Mogilko27:19

        Both

    12. HYHumphrey Yang27:19

        ... cash reserves for business and personal, but all my investing funds are deployed. Typically, I would like to see 10 to 15% of my cash in my portfolio. Like, that means of all my funds in my portfolio, I'd like to have 10 or 15% in cash.

    13. MMMarina Mogilko27:33

        Do you feel bad about that cash just [chuckles] in the account-

    14. HYHumphrey Yang27:36

        No

    15. MMMarina Mogilko27:36

        ... when the market is growing so fast? No.

    16. HYHumphrey Yang27:37

        Because, because what happens if there's a correction or something, something unexpected happens? Then I'll have some cash to buy that dip up.

    17. MMMarina Mogilko27:44

        But that's in the high-yield savings account, or it's just a checking-

    18. HYHumphrey Yang27:47

        That's just in my brokerage account. It's probably ear- I think it earns 4.5% in the money market.

    19. MMMarina Mogilko27:52

        Oh, still... Okay.

    20. HYHumphrey Yang27:53

        But I want to have extra cash in my portfolio in case there's a dip or a big correction, or I can get some stocks for cheap if something bad happens. Um, right now, I don't have that cash. It's all fully in the market. So I'd like to sell a little bit of my positions just to, just to replenish that cash pile going into 2025 because right now, everything's all-time highs. It's really s- it's, it's kind of frothy, they call it, which means that it's frothing to the top. Which means it's not quite a bubble, but it's like... multiples are high right now. So-

    21. MMMarina Mogilko28:24

        So when- are you gonna sell this year or next year?

    22. HYHumphrey Yang28:27

        I would probably- if I sold, it would probably be before December 31st.

    23. MMMarina Mogilko28:30

        Mm-hmm.

    24. HYHumphrey Yang28:30

        Yeah.

    25. MMMarina Mogilko28:31

        Um, when you said you have this money in your brokerage account and it earns 4.5%, is it a standard thing that brokerages, brokerage accounts do?

    26. HYHumphrey Yang28:40

        Typically, yeah. Typically, if you're in the right brokerage, your money gets called swept into, like, a money market fund, which just means it's- it just sits in money market funds, and those money market funds typically pay around 4 to 4.5%.

    27. MMMarina Mogilko28:54

        So if I transfer-

    28. HYHumphrey Yang28:54

        Right now. It's right now

    29. MMMarina Mogilko28:55

        ... Is that Fidelity, or-

    30. HYHumphrey Yang28:56

        That's F- that's in Fidelity, but I think Schwab probably does it, too.
22. 29:57 – 30:46

    Emotional investing

    1. MMMarina Mogilko29:58

       that are not part of your plan? So you have automated-

    2. HYHumphrey Yang30:02

       Oh, yeah

    3. MMMarina Mogilko30:02

       ... investments.

    4. HYHumphrey Yang30:03

       Yeah.

    5. MMMarina Mogilko30:03

       But, like, is there, like, a Monday every two months- [chuckles]

    6. HYHumphrey Yang30:06

       No

    7. MMMarina Mogilko30:06

       ... you sit or, like-

    8. HYHumphrey Yang30:07

       I'd say this year, maybe I've made four investments that weren't part of the original plan.

    9. MMMarina Mogilko30:11

       Can you share?

    10. HYHumphrey Yang30:12

        Yeah, I bought some Coinbase, bought some Nvidia, and I bought some Robinhood.

    11. MMMarina Mogilko30:18

        I, I feel like everyone bought Nvidia. [chuckles]

    12. HYHumphrey Yang30:19

        Coinbase, Nvidia, Robinhood, I bought all those, like-- I bought Robinhood in February and March, and then a lot in June and August. Coinbase, I bought some, I think, in February, and then N- Nvidia, I bought before an earnings report. I, I remember earn- [exhales] Nvidia was trading for, like, 665, and I was like: Oh, I wanna buy the earnings just for fun, and it, like, went up a lot. Yeah.... but, you know, 665 pre-split, so now it's 66.

    13. MMMarina Mogilko30:44

        So it's basically triggered by news,

23. 30:46 – 32:08

    How to decide what information to use when investing

    1. MMMarina Mogilko30:46

       and-

    2. HYHumphrey Yang30:47

       It's usually triggered by news, or I read, like, a quarterly report that I think is very, um, bullish for the company, and then I try to do some financial analysis on, like, what multiple is that company trading for, and do I think that's undervalued? So that was the case with Robinhood. Like, their user growth was off the charts. Everyone... They started innovating on all these products, right? They had, like, seven products coming out, including a credit card, which I thought would be really great for their business. Their average deposits were going up. They still had a long way to go before they reached, um, total addressable market for assets under custody. Like, Schwab has, like, $9 trillion under custody, and Robinhood had, like, $200 billion. So, like, there's a lot-- there's, like, a way, a long way to go, which I thought was good. And I also thought the price of the stock was beaten down because of the negative sentiment that it had from GameStop. Like, people just forgot about it. This was back in February. And I thought the multiples, I think, on it were pretty low. Like, it was valued... I don't remember the exact multiple, but it was valued lower compared to comparable tech companies.

    3. MMMarina Mogilko31:49

       Oh, that's a lot of analyzing.

    4. HYHumphrey Yang31:50

       Yeah, it was a lot-

    5. MMMarina Mogilko31:50

       Do you do that every day?

    6. HYHumphrey Yang31:52

       It was a lot of... No.

    7. MMMarina Mogilko31:52

       No?

    8. HYHumphrey Yang31:52

       That was only for that particular company. I was very interested in it, and I was reading a lot about their financials and reading a lot of their quarterly reports to make sure that I wanted to invest, uh, in that company.

    9. MMMarina Mogilko32:01

       And you do the same for your meme coin strategy, right?

    10. HYHumphrey Yang32:04

        No.

    11. MMMarina Mogilko32:04

        No?

    12. HYHumphrey Yang32:05

        Meme coins are kinda-

    13. MMMarina Mogilko32:07

        You see, you buy, and that's

24. 32:08 – 32:28

    Best way to pick meme coins to buy

    1. MMMarina Mogilko32:08

       it?

    2. HYHumphrey Yang32:08

       Meme coins are like, the le- the less you think about it is typically the better it does. [chuckles]

    3. MMMarina Mogilko32:12

       Okay.

    4. HYHumphrey Yang32:13

       Yeah. I mean, you can do some research on it, but it's not gonna have the same... Like, you can't evaluate a meme coin like a stock. Like, a stock has fundamentals that it, that it has backing it, versus a meme is like, how good's the meme?

    5. MMMarina Mogilko32:24

       Yeah. Yeah.

    6. HYHumphrey Yang32:25

       It's not the same.

    7. MMMarina Mogilko32:25

       When, uh, talking about, like, the individual

25. 32:28 – 33:10

    The % of your portfolio to allocate to individual stocks

    1. MMMarina Mogilko32:28

       stock investments-

    2. HYHumphrey Yang32:28

       Mm-hmm

    3. MMMarina Mogilko32:29

       ... what is the percentage of your portfolio?

    4. HYHumphrey Yang32:31

       For me-

    5. MMMarina Mogilko32:32

       Yeah

    6. HYHumphrey Yang32:32

       ... it's 50/50 now. So it's 50% is individual stocks, 50%'s ETFs. But that's only because all my individual stocks grew so much this year, like Nvidia is up, like, a crazy amount. Ideally, I'd like to have, like, 60 to 70% ETFs and then the rest in individuals. Um, but right now it's definitely higher individual than ETFs.

    7. MMMarina Mogilko32:52

       So basically, the strategy would be just, like, ideally, if you wanna follow your plan, you would sell some of the individual stocks to-

    8. HYHumphrey Yang32:58

       Yes

    9. MMMarina Mogilko32:58

       ... put it back in rebalancing?

    10. HYHumphrey Yang33:00

        Or whenever I add money into my portfolio next-

    11. MMMarina Mogilko33:03

        You're gonna buy ETFs

    12. HYHumphrey Yang33:04

        ... I'll just buy ETFs to bring the weight back up. Yeah.

    13. MMMarina Mogilko33:06

        Wow! So it looks like a lot of work for-

    14. HYHumphrey Yang33:09

        It's a lot of work

26. 33:10 – 34:53

    When to hire a financial adviser

    1. HYHumphrey Yang33:10

       for, I would say, the... Like, if you're working at, like, a corporate job-

    2. MMMarina Mogilko33:13

       Yeah

    3. HYHumphrey Yang33:13

       ... and you just don't wanna worry about it, just do ETFs.

    4. MMMarina Mogilko33:14

       Yeah, you just do the, the split that we talked about at the beginning.

    5. HYHumphrey Yang33:18

       Mm-hmm.

    6. MMMarina Mogilko33:18

       When does it make sense to hire someone to do that? Or does it-

    7. HYHumphrey Yang33:22

       Yeah, no, no, it does... It definitely makes sense to hire someone to do it if you don't wanna pay attention to it, and you need more financial guidance than, than most people. Like, that you don't wanna do it yourself, and you don't feel like you even wanna focus your time on it. 'Cause I'm in it every day, so it's a little different for me. Like, I like it. But if you don't like it, number one, and you probably have, like, a portfolio of, I'd say around 100K, starts to make sense. Anything below that, they might charge you too much for their services.

    8. MMMarina Mogilko33:50

       Yeah, and they charge, like, 1% or?

    9. HYHumphrey Yang33:52

       Typical financial advisers will charge you 1% of your f- of your portfolio size a year. Um, if you're lower than that, they might have just, like, a minimum fee, but even 1% is a lot, because 1% will com- eat into your compound growth over time. However, they can also offer you a lot more, um, advice than just investing. They can help you with estate planning, retirement planning, uh, your kids' education-

    10. MMMarina Mogilko34:18

        Yeah

    11. HYHumphrey Yang34:18

        ... college planning, stuff like that.

    12. MMMarina Mogilko34:19

        So-

    13. HYHumphrey Yang34:19

        They can do a lot more

    14. MMMarina Mogilko34:20

        ... what's your general recommendation?

    15. HYHumphrey Yang34:22

        My opinion is, if you need more than investing advice, you go to a financial adviser. But if you just want investing, you know, like-

    16. MMMarina Mogilko34:32

        Just do it yourself.

    17. HYHumphrey Yang34:33

        Yeah, just do yourself.

    18. MMMarina Mogilko34:33

        Just do those splits.

    19. HYHumphrey Yang34:34

        Just do a split or do an ETF, yeah.

    20. MMMarina Mogilko34:36

        Okay. I think my question that's gonna wrap this up will be-

    21. HYHumphrey Yang34:40

        Okay

    22. MMMarina Mogilko34:40

        ... how do you stay sane when the market [chuckles] goes down?

    23. HYHumphrey Yang34:43

        I would say, I always like to think of what the stock market might look like in 30 years from now. And so, you know, in 30 years from now, it's probably gonna be a lot, a lot higher than it

27. 34:53 – 37:10

    How to stay sane when the market goes down

    1. HYHumphrey Yang34:53

       is right now.

    2. MMMarina Mogilko34:53

       Is that what you say to yourself [chuckles] -

    3. HYHumphrey Yang34:55

       Yeah

    4. MMMarina Mogilko34:55

       ... when things go down?

    5. HYHumphrey Yang34:56

       Yeah, yeah. And, you know, drawdowns of 20 to 40% happen, so, like, your portfolio could be... Let's say your portfolio is at $100,000. It could go down to $60,000 in a year.

    6. MMMarina Mogilko35:06

       And if we remember-

    7. HYHumphrey Yang35:07

       And that would suck

    8. MMMarina Mogilko35:07

       ... Great Depression, it could go to-

    9. HYHumphrey Yang35:09

       Yeah

    10. MMMarina Mogilko35:09

        ... almost zero. But how do you... How... Basically, i- it's like a conversation that you have with yourself-

    11. HYHumphrey Yang35:15

        Yeah, you do

    12. MMMarina Mogilko35:15

        ... because when COVID happened, everyone was like: "That's pretty much like-

    13. HYHumphrey Yang35:19

        Mm-hmm

    14. MMMarina Mogilko35:19

        ... the Great Depression."

    15. HYHumphrey Yang35:20

        Mm-hmm.

    16. MMMarina Mogilko35:20

        "Okay, we're gonna lose everything. Let's..." Like 2008, and it keeps happening more often than it used to.

    17. HYHumphrey Yang35:27

        Yeah. It, it's tough because I think, this goes back to not needing the money, right? If you don't need the money, and you can just leave it in the market and not touch it for a long time, then you're gonna be able to weather the-

    18. MMMarina Mogilko35:38

        Then don't touch it.

    19. HYHumphrey Yang35:39

        Yeah. The- you're gonna be weather, weather those storms a lot easier. But, like, let's say you needed the money next year, and all of a sudden it's down 40%, you might be like: "All right, I just gotta sell, 'cause I don't want, want it to go down more." So that makes you more emotional. I think the longer time horizon you have, the less emotional you naturally are, because you don't have to worry too much about it. 'Cause you know in, like, 30 years, it'll be... Like, during the 2008 financial crisis, or let's say the COVID crash, if you told yourself in 30 years it'll be a lot higher, you'd just leave your money in, and you didn't even have to wait 30 years. You just had to wait a year, and then it was a lot [chuckles] higher than it was, so.

    20. MMMarina Mogilko36:13

        Yeah, same with cryp- with crypto, right? When Bitcoin went down so much, people were, like, selling off, panicking, and also, social media doesn't help. So everyone is... [chuckles]

    21. HYHumphrey Yang36:24

        Yeah, I think that's the problem, is that investing takes a long time, and we live in an age where everything is, i- is instant. And you, you're overloaded with news and information, and CNBC, and people saying you should sell everything, and-

    22. MMMarina Mogilko36:39

        Yeah

    23. HYHumphrey Yang36:39

        ... it's not-

    24. MMMarina Mogilko36:39

        Panicking.

    25. HYHumphrey Yang36:40

        Yeah. Really, you should just invest and just, like, forget about it for, like, 15 years and come back and go, "Oh, great!"

    26. MMMarina Mogilko36:46

        Yeah, that's the best.

    27. HYHumphrey Yang36:47

        Yeah, that's, that's what you should do-

    28. MMMarina Mogilko36:49

        Really hard

    29. HYHumphrey Yang36:49

        ... but most people can't do it.

    30. MMMarina Mogilko36:50

        Yeah.

Episode duration: 37:10