8 TRAPS that Rich people Avoid, but Middle Class does not | Akshat Shrivastava
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- เผยแพร่เมื่อ 22 พ.ค. 2024
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8 modern-day FINANCIAL TRAPS that is making you and me poorer.
While the rich, being the smart ones, conveniently avoid them and become more affluent.
And yes, it does involve using some "special credit card" apps:)
Do watch this video till the very end. :)
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Akshat Can't you stop this kind of fraud people using your name , in comment section
Sir make vdo on chetan sharma's sting operation and uska nichod dijiye k kaise har jagah gla kaant competition hai and kaise aged players ko team se nikalna chahte h jaise hume job se nikal rhe h and nye ladko ko bhara jaa rha h, sab corrupt h, IT companies ne 1.5 lakh logo ko job se nikala h recently
How to deal with this ofc family corporate politics and survive and grow?
Sir make vdo on chetan sharma's sting operation and uska nichod dijiye k kaise har jagah gla kaant competition hai and kaise aged players ko team se nikalna chahte h jaise hume job se nikal rhe h and nye ladko ko bhara jaa rha h, sab corrupt h, IT companies ne 1.5 lakh logo ko job se nikala h recently
How to deal with this ofc family corporate politics and survive and grow?
@@nileshlodaya2579 a
Natural Gas Commodity 2 yrs low accumalate
Points Discussed..
1.Risk Reward Curve
2.Live on Rent in early part of life
3.Protecting the Downside
4.Buy Real Assets-physical gold as example
5.They know where the money is going
6.Rich ppl take business loans
7.Invest in things you understand
8.Portfolio of Incomes-Multiple Streams
summary in short 😄
I think the main problem with Indians is that they know how to save and live within their means but they don't know how to generate wealth. Also, rich owners are always underpaying Indians but Indians don't even know how to protest and increase their wages. Their thinking is "my son or daughter will become a doctor or engineer and then everything will be fine". But the reality is most Indians will not become doctors or engineers. So, they need to do their homework and think more practically.
Live in rent' if u r smart enough to took advantage of that money u likely to invest in purchasing home. Otherwise its better to pay the compelling EMIs
Thank you
@@kalaiselvan5906that's why successful TH-camrs follow reel policy, which is a revolutionary idea💡 wherein depending on interest level, one can always visit the TH-cam with link provided in reels.
It is true all the big businessmen get loans for the business and later declare bankruptcy , but still have their luxury life while the middle class people lose a whole lot.......
Yes
This is because the big business houses can able to manipulate the banks easily. Otherwise Why the banks are not giving loans to small traders, business houses, & MSMEs ?
This world is all about manipulation, one who is good in it will become a rich man 1 day.
Recently my wife and I just sold two real estate properties in the Bay Area for a total sum of $916k due to foreclosures. We plan to purchase a new house next year, the cash is just sitting in our joint savings account What do you recommend we do? I will appreciate any suggestions.
Certain stcks and commodities are a good hedge against inflation, however you need to know what the heck you're doing or better still, seek help from a coach
Concurred. was way easier for me to navigate the markets not until 2020 stock market crash, I had to source for a portfolio-coach to revamp my entire portfolio and hedge against inflation.
this is huge! can you be kind enough with info on the coach that guides you please? I’m in dire need of one as I approach retirement
There are many financial coaches who excel in their profession, but for the time being, I employ Monica Mary Strigle because I adore her methods.
thanks for saving me hours of researching, I curiously looked up Monica Mary Strigle on my browser and came across her website, I hope I can allows interview Monica myself.
haven't seen a better explanation than this on personal finance. Simply great.
I don’t think that planning a house is a bad idea because suppose I buy a house for 2cr today and after 10yrs it’s value turn out to be 10cr .:::: suppose I plan to buy same house after 10yrs instead of today, I need to have 10cr …. So investing in real estate is never a middle class idea
Totally agree with you , "Our energy should go towards generating more income stream". 😊
Your from Bangalore
REIT - No control on property
HDFC/ HUL - also no control on company..
So why is it a bad investment?
Because Return % in REIT is comparatively less than HDFC/HUL
Thank you for this crisp and impactful video! I connect with your spirit! More power to you ❤️👍
Yes there are various traps targeted at salaried individuals as they have fixed income, and they know how to remove Money from their pockets for their commissions and profits. You have explained it well this kind of education is very Important to a layman.
bitter dose of sane advice (medicine). Thank you Akshat for setting up realistic financial tips and pitfalls.
Can we buy Natural gas on dips????
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
I subscribed for a few trading courses but it didn't help much, been getting suggestions to use a proper financial advisor, how did you go about touching base with your adviser
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $485k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.
Wow, that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.
I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?
For a few months now I have been searching tirelessly for information on how to start investing. I even payed $1000 for a course that I now regret. It appears that there is no structured guided for beginners on how to get started in this realm. I’ve came across several investors making well over $250k/annual and I would be grateful if anyone on here could provide insights on how to get started, identity potential stocks, when to make an entry, exit etc.
Woah!!! a whole family of bots 😂
Bots bots
Learn and try not to be parasite
learn, apply, learn, apply better way....
Dhirubhai Ambani didn't pay 1000k dollars yet his company is Indians richest.
Such clarity of thoughts and explained in a simple to understand language…. Thanks Akshath great job 👍
I have seen the 12% club ad on youtube like 12000 times now. Seems like they are putting a lot of money into advertising. Glad that you are making such videos to warn new investors. Thank you!
I tried it for a couple of months. Interest was credited. Glad I redeemed all my money.
I love your points Akhshat. Thanks for your effort. Very informative.
This vide is gold. Would love to be part of your community where you teach more and other similar minded people gather.
Currently not in the any trap, but learning about the same is very interesting !
I agree completely with your viewpoint of financial and time freedom
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains within months, I'm really just confused at this point.
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Mind if I ask you recommend this particular professional you use their service? I’m in dire need for one
My advisor is LEILA SIMOES PINTO. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
Really love the content. Every one should know the money strategy. We should make more content about financial literacy, as all these topics are not in our educational curriculum.
Very nice and informative. Thanks for sharing.
Amazing video on point i personally think people should be held accountable for promoting such schemes and apps just for some commission .
This was a very helpful video. Thank you very much Akshat ji!
Wonderful, thanks for the guidance with so much clarity
Thanks for another amazingly-informative-eye-opening video, Akshat.
Thanks sir for sharing such wonderful knowledge with the help of day to day examples. ❤️
THANKYOU. really helpful and very well explained.
very very informative video. thank you sir
Mr.Akshat , you are a great human being.
The best service a human can give to other humans is showing them the right path to protect them from atrocities. BE BLESSED.
Wow, I just found your account a week ago and been going through videos, and seriously I find it very useful.
There are tons of stuff I youtube about finance but giving a perspective is really rare and I'm so thankful you provide the Truth without sensationalizing or sugar coating, so glad to have found the channel it amazing, kudos to you🎉
totally agree with you.such a good clarity
Very Well explained, Thank you!
Hilarious that you said the middle class gets trapped and the rich class creates traps with shiny objects. Absolutely true!
When the rich create "multiple income streams", that money has to come from somewhere. And it comes from conning the middle and lower classes. It's a game where only a few can win. So sadly, Akshat's advice is not universally applicable.
Dear Akshat . great video and content . and great advice . please keep putting more content like this and don't change yourself :)
Can we buy Natural gas on dips????
Sir thankyou for the valuable knowledge..
Thank you for the advice.
FYI, In the USA, you have insurance that gives us consistently 9% in return (IF the insurance agent know how to structure it properly), which you can start to withdraw 1 or 7 years later. But yes, for protection, it is crucial as well. What a great video btw!
Very well done Akshat. One other point that naturally fits into your narrative is cumulative effect of long-term investing.
Excellent advice and lessons! Keep it up!
An excellent video..makes a lot of sense and outs a lot of modern day apps, into perspective
Overall conclusion as a low income people like me is that we have to increase our income and keep learning new skills to increase our chances to become wealthy in coming times with tips of wealthy people.. If we keep thinking 25 din me paisa double scheme then our capital and savings also going to be zero..
Simple logic: reduce your monthly expenses but don't be too desperate to earn extra income. Desperation leads to taking wrong steps in life. Stay calm, peaceful and conservative. That alone shall show you the road. Being impulsive, over enthusiastic, angry, sad, depressive, demotivative won't help you anything. Just cut down expenses like outdoor eating and unwanted travel. Cook your own food , it shall be healthy and tasty as well. If you don't know cooking then learn it from TH-cam. I learnt all dishes during lockdown and now I my free time I love to cook food and other sweets as I am fed up with dirty eatery outlets and many a times I had too much loose motion bcoz of eating outside food
One of the best videos on Personal Finance.. Especially the mention of Physical Assets vs Paper Assets.. Very very few so called Personal Finance Influencers understand this as majority would preach for SGBs, etc. only.. Amazing work and most honest work ever found on Internet in this space.. please keep up the good work..
Can we buy Natural gas on dips????
Very informative. Thanx
Thank you for the informative video.
You have explained it really well Akshat, keep the good work going :)
He is a visionary. B4EQAV is a long hold
Thanks for sharing❤❤❤❤.
Awesome presentation and true words. Thank u
Very nicely covered Akshat ❤
I invest myself after studying details of business and physical presence of its products or assets. I strongly feel that there should be a separate stock exchange only for investors to invest in fundamentally strong companies. People will not fall to operators and traders games.
The Market have been suffering over the past month, with all the three indexes recording losses in recent weeks. My $400,000 portfolio is down by approximately 20%, any recommendations to scale up my returns before retirement will be highly appreciated
You have to get a financial-advisor/broker to aid you diversify your portfolios to include commodities, inflation-indexed bonds and stocks of companies with solid cash flows, as opposed to growth stocks where valuations were based on future potential earnings
@@kevsmills *Right, I've been in constant touch with a fiinancial-analyst since covid . You know these days it's really easy to buy into trending stock`s, but the task is determining when to buy or sell . My advisorr decides entry and exit commands on my portfoliio, I've accrued over $550k from an initially stagnant reserve of $150K.
@@jacobelord wow ,that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.
@@ardeand Isabel Linda Dueri
You can easily look her up, she has years of financial market experience.
Excellent points
Thank you so much for the knowledge you shared
An average salaried class people have equities to invest in and make the dividends and profits one book as passive income. After that, they have bond buying or debt instruments. Can't afford real estate. Can't store physical gold as the rich do. Equities if done correctly are more rewarding than debt/bonds and SGB. Concluding equities is the only way till we become rich enough to diversify into physical gold, hedge funds and real estate.
Absolutely love your content, Akshat. Not just the content and presentation, but also your calm and composed demeanor while speaking. Also, appreciate how you have still not caved into the pressure of the current government using TH-camrs to misrepresent the facts and image building.
ᴛʜᴀɴᴋs̶⬆️ғᴏʀ ᴡᴀᴛᴄʜɪɴɢ⬆️ғᴏʀ ᴍᴇɴᴛᴏʀs̶ʜɪᴘ, ɪɴғᴏʀᴍᴀᴛɪᴏɴ ᴀɴᴅ ɢᴜɪᴅᴀɴᴄᴇs̶ ᴡʜᴀs̶ᴀᴘ ᴍᴇ ᴅɪʀᴇᴄᴛ.🎊
Calm n composed? He rushes like shataabdi.. 😊
What does current government have to do with this?
@@gauravsarora7957 anybody worth the salt got to say something abt the govt - that's the trend 😆 & with added angle of Ayushi being DD @ MOF 😎
Thank You for the sincere advice..!! ❤❤🙏
Thank u sir ... Keep this wise work
Thanks for information, sir👌🏻👌🏻✌✌✨✨
ᴛʜᴀɴᴋs̶⬆️ғᴏʀ ᴡᴀᴛᴄʜɪɴɢ⬆️ғᴏʀ ᴍᴇɴᴛᴏʀs̶ʜɪᴘ, ɪɴғᴏʀᴍᴀᴛɪᴏɴ ᴀɴᴅ ɢᴜɪᴅᴀɴᴄᴇs̶ ᴡʜᴀs̶ᴀᴘ ᴍᴇ ᴅɪʀᴇᴄᴛ.🎊
Thank you so much Akshat
Pehle dekh toh le
@@parvjain946 😂😂 baat toh sahi hai bro
Thank you! Finally somebody sharing honest advice based on common sense. Great information
thanks for this video akshath sir........
In short calculative investing and diversification of funds! Thank you Akshat for such easy to understand content which is required for many people that don't understand the dynamics of money and how the financial world works! God bless.......
Can you please provide an update on Vauld liquidation process and what is currently happening
Excellent video. You have put some very useful tips together nicely.
This was really helpful. I do agree with you.
Richness is what money brings and standard of living is what money can't take away.
It's the very essence of forming a company. A separate legal entity with limitel liability.
The content is so thoughtful and clear. Thanks Akshat!
Very well explained..
Thanks man!!
Request for an update on B4EQAV. Your the man, keep up the hard work in the depths of this bear market and we will all be asking “what’s a few trillion among friends
Great Video Akshat. I feel the biggest trap after home loan is Car Loan. I have personally been a #MotorHead but drooling on cars vs spending 50% of your monthly income on a car EMI are two separate things.
While home loan is still understandable as home is an asset which appreciate while car is a loosing its value with each passing year till it becomes junk, no logic taking loan for it, except trying to impress girls 😀
here is some wisdom from - car is just a tool to take you from place A to B; so buy the cheapest one that works for you instead of getting caught in the middle class show-off trap.
@@tk200895cannot stress on this enough ! Seen so many upper middle class burning fifty percent of the salary in fancy cars just to show they have arrived
@@tk200895totally agreed
Excellent. Very useful
Really great video❤ eye opener. Thanks for making this video Akshat
I think "generating more income stream" is really hard. Think about it, if everyone owns a business, who is working in those businesses?
So, I am still renting - so I am on the correct track.
I am putting my savings into mutual funds. I know that there is commission to the manager, but I simply cannot spend my days researching stocks. This commission is disclosed.
Beautiful content im bullish for B4EQAV this is awesome 👌 tech analysis 👍
Great insight about money explained.
You are a true new rebellion against traditional myths/thoughts about money.
You are the 1st person on TH-cam to say " Money is a mean to Live a Life, to be satisfied, to build businesses that have some true social impact and many non-conventional ways to look on money.
Thank you so much. You are doing great work. Keep this up.
Thank you, interesting & thought provoking insights
True, if I pay rent it will be much less than half of the EMI and also have freedom to move from 1 city to another and when about to retire then invest in real estate like what my father did and when I say real estate it will be not flat which is depreciating.
You nailed it 😉
I have seen many old people investing in these Apps thinking that they are tech savvy 😊. I will definitely forward your video to them and my friends 😊
Old people with pensions are prime target of such apps.
Thank you Akshay.
You hit the nail right on the head .verbatimly agreed 👍
Didn't agree with the Sovereign gold bond logic.
SGB is anyday better than investment in physical gold since it mirrors gold prices and gives 2.5% interest above it. And there is almost a zero percent change of the Indian government defaulting.
If you assume such a scenario then there is actually no asset class to invest your money.
Investment in gold, if done for the purpose of price speculation then SGB is great. But look at the 100 year chart of gold. Its possible that in your lifetime it goes nowhere, unless you swing trade. Its price only appreciates if someone else is willing to pay more for it without the existence of intrinsic value, something we call the greater fool theory.
And if done for the purpose of hedging your risk (not financial, but a very serious negative event) then that is when physical gold comes into play and SGB will leave anyone just sucking their thumb.
The house that I brought has given me immense joy, peace of mind and great gardening joys. Whereas all the money that i continuously poured in my business has just vaporized. If i had invested the same amount in purchasing my neighboring properties I would have been very well off.. In India with burgeoning population and few legal houses property remains the king.
Lol it just means you are terrible at business
The point which you were discussing is early 2k's. At that time if u taken home loan the land price will get appericiated but right the value of real estate price and building cost is too high.
@@keshavaraja3537 Yes. l brought properties around Mumbai from ~2002 to around 2006. They doubled in value every about 4 years till about 2015.. Now I get around the same value as in ~~2013. But its like gold, price remains flat for decades and suddenly it starts rising. For now there's no demand or business either.
@@AnwarKhan_786Yes it's past but here we were discussing present situation .Do you think still real estate price will go high from right now? May be 2~3 %
@Kurpatuki Loombidaba Yeah yeah sure... You follow your own advice lol. I ll be happy retiring wealthy.
Absolute sense in all your points !!!
Absolutely loved everything you sd
Looks like you are learning lot of things and doing course corrections on yourself, happy about it. I say this because in your earlier days you used to talk more on reducing spendings than on increasing the incomes. Those days I used to think why you share such bad ideas. And now you rightly have come into the viewpoint that increasing the income is way superior and important than cutting short few spendings!
ᴛʜᴀɴᴋs̶⬆️ғᴏʀ ᴡᴀᴛᴄʜɪɴɢ⬆️ғᴏʀ ᴍᴇɴᴛᴏʀs̶ʜɪᴘ, ɪɴғᴏʀᴍᴀᴛɪᴏɴ ᴀɴᴅ ɢᴜɪᴅᴀɴᴄᴇs̶ ᴡʜᴀs̶ᴀᴘ ᴍᴇ ᴅɪʀᴇᴄᴛ.🎊
Thank you Akshat, I was contemplating investing in a SharkTank pitch. Now I know what to do. Really thankful for the timely intervention. The video could not have come at a better time. Wish you greater success in all your ventures.
Awesome video with a lot of insights...Thank you very much for sharing such invaluable information with us😊
Great advice worth noting. Thanks. Multiple sources of income are indeed important.
That's right having multiple streams of income is essential to acquire financial freedom and be financially stable
Can we buy Natural gas on dips????
Hugely helpful giving insights into various options. Diversification of the sources of income seems to be the key and the stage in your life. Not keen on getting rich overnight! It takes huge amount of time and patience with hard work to become rich which is ALWAYS possible. Rich is not synonymous to happy.
Good Info. tx
Seen a lot of videos, your content is really practical and understandable to common man. Thank You.
Akshat bro. I thank you for subtitles. I am Deaf, profound Deaf and wishes to enjoy your contents as well. Thanks for it.
ᴛʜᴀɴᴋs̶⬆️ғᴏʀ ᴡᴀᴛᴄʜɪɴɢ⬆️ғᴏʀ ᴍᴇɴᴛᴏʀs̶ʜɪᴘ, ɪɴғᴏʀᴍᴀᴛɪᴏɴ ᴀɴᴅ ɢᴜɪᴅᴀɴᴄᴇs̶ ᴡʜᴀs̶ᴀᴘ ᴍᴇ ᴅɪʀᴇᴄᴛ.🎊
Akshat , please make some videos around home schooling.
As always you are awesome and are doing a great job out here in TH-cam.
Well said my dear 🎉
Great and thanks 🙏
At some point of time, Akshat was promoting Vauld which was giving like 12% FIXED return on USDT
M addicted of your channel sir 🤠
ᴛʜᴀɴᴋs̶⬆️ғᴏʀ ᴡᴀᴛᴄʜɪɴɢ⬆️ғᴏʀ ᴍᴇɴᴛᴏʀs̶ʜɪᴘ, ɪɴғᴏʀᴍᴀᴛɪᴏɴ ᴀɴᴅ ɢᴜɪᴅᴀɴᴄᴇs̶ ᴡʜᴀs̶ᴀᴘ ᴍᴇ ᴅɪʀᴇᴄᴛ.🎊
Very informative video thank you