The Savings Expert: They’re Lying To You About Building Wealth - Do THIS Instead! | Humphrey Yang

**Jack Selby** (0:00)
59, 60, 60, oh hey, I didn't see there. I was just getting a quick little bicep workout in, and technically, I didn't even need to be counting my reps. This thing counts for me, six, seven reps in, it won't forget. Great timing though, because AMP is actually sponsoring today's episode, and they sent one over for our new warehouse gym. This is AMP, the smartest home gym on the market. Think of the cable setup you'd find at a commercial gym, but in your house. It counts your reps, remembers your weights, and when you walk up and hit start, it's already loaded from your last session. All the guesswork is gone. You can run it in fixed mode for a standard cable feel or flip it to eccentric mode for extra resistance on the way down. Every fitness expert that we've had on the podcast says that time under tension is key, and this gives you exactly that. It comes with a full set of attachments that lets you do over 500 movements. It's basically like having an entire gym, but in the corner of your room. And if you don't know where to start, it picks a trainer, builds your plan, and tracks everything automatically, and you're not paying $100 an hour for a personal trainer. And on top of all of this, a white glove crew installs it. Ours was up and running in 30 minutes, and there's a 90-day free returns policy. AMP handles the whole pickup, but less than 1% of people send it back, so that should tell you something. The link is down below in the description, guys. I could not recommend this equipment more. Check it out at amp.ai, or also link down below in the description. Use code icedcoffee for 10% off.
It truly gets a great workout in. Thank you so much to AMP for sponsoring this episode, and back to the podcast.

**SPEAKER_2** (1:26)
An alarming new trend. More Americans are tapping into their 401Ks for emergencies.

**Humphrey Yang** (1:32)
There are a million things that keep people broke, but these three things in particular are doing the most damage.

**SPEAKER_4** (1:37)
A family of four now needs nearly $140,000 a year just to survive.

**SPEAKER_5** (1:43)
New data shows Americans are saving less as they struggle to keep up with rising costs. The personal savings rate across the country is nearing a record low.

**Jack Selby** (1:51)
Do you think that that trend is going to stay the same? In 2030, do you think that people are going to be even worse off than they are today?

**Humphrey Yang** (1:57)
The blueprint to wealth is incredibly simple, but most people don't know where to start.

**SPEAKER_5** (2:00)
The stock market has set 53 all-time record highs since the election.

**Graham Stephan** (2:05)
Think of that. One year. The rich are getting richer.

**SPEAKER_4** (2:08)
They're getting richer faster.

**Graham Stephan** (2:09)
I mean, that's the reality.

**Graham Stephan** (2:10)
What are the biggest financial red flags?

**Humphrey Yang** (2:12)
I mean, you can get away with a lot of stuff. You just carry yourself like you look rich.

**Graham Stephan** (2:16)
We're minting millionaires faster than we've ever minted them before.

**Graham Stephan** (2:21)
So what is technically the number one wealth killer?

**Humphrey Yang** (2:24)
Look, if you want to get rich in 2026, here's how you do it.

**Jack Selby** (2:28)
Humphrey Yang, you used to be a financial advisor and now you're a financial educator on YouTube. I absolutely love your videos. You simplify very complex topics. We have a lot we agree on. We also have some things we disagree on, which I am very excited to explore this episode. Thank you so much for coming on The Iced Coffee Hour.

**Humphrey Yang** (2:44)
Thanks for having me. I'm excited to dive into some of these deeper topics that we might disagree on.

**Graham Stephan** (2:49)
So I want your take on some of these insane statistics. More than half of Americans currently cannot cover $8,000 emergency. And on top of that, one in five car buyers has a payment above $1,000 a month.
Is this the fault of the American economy or are people just spending themselves into oblivion?

**Humphrey Yang** (3:08)
You know, I think it's partially lack of financial education, obviously. Number one. Number two.
Impulse. Impulse control. Zero. A lot of Americans just have no impulse control. They go to a car dealership, they see their shiny new toy, they want that shiny new toy. They say, oh, I can afford the monthly payment. And then they get kind of roped into these car loan terms, high APRs, no money down or low money down so that they can just drive the car off the lot and they get something that they can't really afford.