Humphrey Yang

Here’s what happens if you never pay your taxes👇 First, you’ll probably get letters from the IRS letting you know you’re past due. Then they’ll start calling you to let you know you need to pay your bill. Still not interested in paying? Well, things start ramping up. The IRS will file what’s called a “Notice of Intent to Levy” which means they’re going to start taking your stuff to pay off your bill. They can even garnish your wages every month… Not to mention this entire time you’re going to be adding on extra penalties. Eventually, if you still owe and refuse to pay…you can lose high ticket items like your house and even serve jail time. Like most tax specialists can confirm, it’s better to pay the IRS a little here and there than have them come after you because eventually….they will.

This viral Chase "glitch" isn't a glitch at all it's actually FRAUD. Here’s how it works… ✍️People will write a check to themselves say for $50,000 🏦Then they go to Chase bank and deposit that check into their account 💰After that, they go to the ATM and withdraw the money from that check before it gets processed But this isn’t a glitch…it’s check fraud and it’s a crime. And if you’re thinking Chase is going to let this one slide… no they aren’t and these people are going to be in A LOT of trouble. So, remember if you see something on the internet that seems to good to be true…chances are it probably is. Follow for more!

Costco has a $58 billion dirty little secret🤫 #costco

How much money is in the ENTIRE world? Well, the answer might be more complicated than you think. 💸 There's actually a specific term for “all the money in the world”—it's called M0, which includes all the paper money, coins, and central bank reserves, like assets held by the Federal Reserve.🏦 In 2024, the M0 supply in the US alone was $2.34 trillion. 💰 That's almost 4 times the combined net worth of Jeff Bezos, Elon Musk, and Mark Zuckerberg! 😱 But this only covers cash in circulation within the US. When we consider all the money in the world, M0 supply is around $5 trillion. But there's more. 🌎 We also have M1, which includes M0 plus money in savings accounts and travelers checks, and M2, which adds short-term assets like CDs to the mix. So, what happens when we combine all these types of money globally? We get a staggering $82.6 trillion. How much is that, you ask? It would take 45,430 semi-trucks filled with $100 bills to hold it all. 😳

It’s B-A-N-A-N-A-S how cheap they are🍌Let’s talk about it. Did you know that bananas haven’t always been this cheap? The average banana costs somewhere around 63 cents but bananas used to be a luxury. The only way for bananas to get to the US was for them to be shipped from Jamaica. There was one hiccup with that…a lot of the bananas were rotten once they arrived in port. That’s when a guy named Andrew Preston, founder of Chiquita, came up with a solution: ice-cooled ships, warehouses, and boxcars. This helped delay the ripening process and is it still used today with some tweaks. But that’s not the only reason bananas are cheap… Bananas have a shorter shelf life and they are grown in regions where labor costs are lower. There’s another reason too but you’ll have to watch the video to see. Follow for more videos where money and life connect!

Pepsi is royalty…. but why?👑⬇️ Pepsi is known as a dividend king. This means that if you own the stock you get a share of their earnings or a “dividend.” Not all companies do that which is why they’re unique. Dividend Kings are companies that have 50 years (or more) of dividend increases…meaning? The percentage of dividends goes up each year. This is great if you’re looking for a unique way to have your money work for you and then some. There’s a big list of dividend kings above you can look at adding to your portfolio if you want some royalty to your list. Make sure you save this video for later!

How much should you be putting down on your car?🚘 That answer might be simpler than you think. If you’re making up to $80k, you need to make sure your down payment isn’t going to dip too heavily into your saving or retirement goals.💸 That’s why ideally you’d put down a 15% down payment. So, if you want a $30,000 car putting down around $3,000 is best. 👍 If you’re making $80-$120k then you should aim to put down a 20% down payment. This will help lower your interest and monthly payments. 📉 If you’re looking at a $30k car, putting down $6,000 is great! Now, what should you do if you are making $120k+?🤔 Shooting for a 20-30% down payment is your best bet. Looking at a $50,000 car? Your down payment should be somewhere around $6,000. Your general rule of thumb should be to have your car payment be no more than 10% of your monthly income.

Part 4 of gold factory tour where we learned about density. Did you expect these two metals to have such a big difference? Make sure to follow for the remaining parts in this series! Thanks to PAMP for the tour.

Part 3 of the gold factory tour! Make sure to follow me for parts 4-7. Today we discussed the true difference between 14k, 16k, and 22k gold. Did you know the difference between these three carat classifications? Thanks to PAMP for the tour! Video inspired by traxnyc

Part 2 of the gold factory tour at PAMP. Did you know that before PAMP gold bars didn’t have designs stamped on them? We get an inside look on how PAMP adds their iconic Lady Fortuna design on their gold bars for Costco and beyond.

Follow for the rest of the 7 part series!

Part 1 of the gold factory tour at PAMP! We learned how they take gold with impurities and refine it to make all sorts of different products. Video concept inspired by traxnyc.

Are sausages the new way to tell if the economy is doing well?🌭

Sausages are in higher demand according to the Dallas Federal Reserve report. They saw a modest growth in the food category and frankfurters in general are up 11% year over year. 
 But what does this have to do with the economy?

Well, this is known as a “trade down” or where Americans are choosing more affordable options for their protein source. 

And economists have observed that trade downs like this, especially in the protein category, could be an indicator of a weak economy. 

Of course, this isn’t an end all be all indictor, but it’s definitely worth keeping an eye on. Want to learn more about personal finance and the economy? Click the link in my bio.

These cars are the biggest wealth losers 👎🚗 Coming in at last place is the Cadillac Escalade ESV🥲It loses 58% of its value in 5 years time which is a $63,885 hit. The 4th spot on this list is the BMW 5 Series Hybrid that sees a 58.8% depreciation in 5 years and SPOILER ALERT: it’s not the only BMW on the list. 3rd in the most depreciation is the Maserati Ghibli that loses well of half it’s value with 61.3% or $58,623 value lost in 5 years.📉 Number 2 is the BMW 7 Series losing 61.8% of its value in five years time and in case you were wondering that’s a $72,444 hit…ouch. 😩 Honorable mention to Tesla’s Model S for depreciating 55.5% over a 5 year period too. 🎖️ And the worst car that kills your wealth and depreciates a ton over a 5 year period is the Maserati Quattroporte with a 64.5% depreciation and an MSPR difference of $90,588. 🤯 Do you have any of these cars?

It’s start of the NFL season and here’s what you need to know 🏈👇 Private equity is entering the NFL, but is it a good thing? Well, it depends. 🤷 A group dubbed “the Avengers” was voted into the NFL. This includes large equity groups like Blackstone and Ares management. In order to still keep the NFL… The NFL they have limited these equity groups to a 10% ownership stake. This helps teams who were, perhaps, underfunded in the past be able to get new stadiums or invest in equipment in personnel to help improve the teams.🏟️ The NFL has promised the groups won’t have much say in team decisions but what do you think of this $12 billion promise? 🤔