The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
It is remarkable how much long term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world.
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
It could also be a way to become a millionaire, staying with your parents while you are making 6 figures a year just stacking money, not trying to impress anyone.
@@tporter500 literally the vibes. I landed a remote gig and moved back in with my parents in my thirties to be able to get a chance to pay off debts, help my folks, and stack up more money than I’d had a chance to before.
@ No. Its not. Poverty is about the amount of money I have in my account… not where I live. I could move out today and be doing better than half the country. Moving out would actually make me poorer as I’d be spending on overinflated rent and items.
3 things that helped me and literally changed my life 1. I stopped writing comments 2. I stopped reading comments 3. I stopped answering comments 4. Ceased talking with poor people
We experienced the pinnacle of our era, but it is now gone. Like what happened to Rome, the corrupt administration will bring this nation to an end. My condolences go out to anyone who is close to retiring and may be worried about whether their pension will be enough to pay the rising cost of living. Insane fiscal policy, poor regulatory policy, poor energy policy, and poor foreign policy
50 and early retirement. I'm very worried about the future and where we're all heading, especially in terms of money and how to get by. I'm considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
This is awesome! I also began investing with a wealth manager in 2020. For a long time, I kicked myself for not realizing I could do that sooner. It's funny how I've now left my day job because my profits take care of all my living expenses.
I checked her up on Google because I was intrigued. I studied her bio, and I must admit that her qualifications are quite exceptional, removing all doubt.
If you think you're "middle class" just because you somehow managed to get a home, a family, a "good" job and a wife with a "good" job, yet are still affected by the issues in this video, you're still poor.
9:15 That's what ticks me off to no end. Banks make money with our money, and then, AND THEN charge us money for "maintaining" that money. What the hell?! Oh, right, it's 100% legal the same way companies can take out life-insurance policies on their employees and collect said insurance when the employee kicks the bucket. (AKA, Dead Peasants Insurance) Also, the scary thing is that when it comes to video games, software, and certain other things, people don't own it what they buy. We're merely "leasing" it. At any time, the company that makes it could technically take away our rights to the product, shut the product down, etc.... Example comes from MMO games like Ever Quest Online Adventures, Star Wars Galaxies, Matrix Online, Wildstar, City of Heroes, etc.... All the time, effort, and energy put into that product for the items, events, and such, gone. Poof. Doesn't exist anymore.
YIKES. - play to win NOT pay to win. - Bank your money in investments NOT the Bank. - Insurance companies are robbers. You pay them all that money and you're insurance payout is not always guaranteed. (hence why they offed that CEO🥲). Instead of giving your money to insurance just put it in a GIC or tax free account; you get tax for just breathing anyway.😅
Totally feel your frustration! It's wild how the system is set up to benefit banks and big corporations at every turn. You're absolutely right-banks profit off our deposits, then hit us with fees on top of it. And the whole 'Dead Peasants Insurance' thing is both legal and downright unsettling. It’s a reminder of how much these systems prioritize profits over people.
The 1% of rich people think of how to invest their money to increase their wealth during the recession. While 99% of struggling hard-luck people think of how to survive without food and daily necessities in the recession and the coming hyperinflation
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'd be retiring or working less in 8 years, and considering this financial recession, Im deciding to begin taking up skilled trades. I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, learn around $130K per year but nothing to show for it yet.
As a beginner, access to reliable information is vital to succeed, so also is professional guidance. That's where a CFP comes in. Have you considered working with one?
I have been advised on that. Finding one who understands what I want and can work with me to achieve it is essential, although I'm yet to find one. Any recommendations, please?
For me, I started out with *Joseph Nick Cahill* ,great advisor. I got very lucky to have found him especially after my marriage crisis & consider him a good friend now.
Isn't it interesting how billionaires often brainwash people into believing that chasing money isn't the path to happiness? The truth is, while money itself might not bring happiness, it does provide security and freedom. These billionaires are securing wealth for future generations, and one thing they all have in common is that they're investors. It's crucial for people to take their financial literacy seriously and consider investing in the stock market. It really can work for you and help you build the financial future you deserve.
The common belief that a stable job leads to financial success contrasts with the approach of billionaires, who focus on entrepreneurship, investing, and building passive income streams through long-term strategies and calculated risks methods not typically taught in traditional career paths. Most people are unaware of these alternative principles that can lead to greater wealth
@@immanuel_888 It has lost its meaning, but it's enough to secure a future or retire for most people. And hit that milestone early enough, 1 turns into 2 pretty quick and so on.
I'm retired at 27, went from Grace to Grace. This video here reminds me of my transformation from a nobody to good home, honest wife and 35k biweekly and a good daughter full of love
What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio..
there are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist.
I took charge of my portfolio but faced losses in 2022. Realizing the need for a change, I sought advice from a fiduciary advisor. through restructuring and diversification with dividend stocks, ETFs, mutual funds and REITs, my $1.2m portfolio surged, yielding and annualized gain of 28%
Sadly with each passing day we can see the impact this awful policy has had on the UK. Tied up in red tape and tariffs with lower GDP than before the pandemic whilst the others in the G7, including Italy, are above. The lower GDP means we do not have the headroom to pay our way in the world and must resort to borrowing.Whilst there are rich people in the UK; a great many of us are poor and now we are poorer still. What steps can we take to generate more income during quantitative adjustment?
Indeed, you are correct! But on the advantageous aspect, economic downturns offer numerous prospects for ordinary individuals to create wealth from the ground up. Nevertheless, seeking guidance from an investment planner might be necessary if you desire a more assertive return.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
My CFA Carol Vivian Constable , a renowned figure in her line of work. 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.
It's not that you're poor it's that you suck at being poor, if you want nice shit your going to have to take old shit and make it nice. Being completely useless is a luxury of the rich and you're not rich. -Best statement Ever
the broke cycle wont ever stop. if everyone wants to be a millionaire and ,for argument sake, becomes millionaire, we will witness the trend of wanting to be billionaire for millionaire is the new broke. I find it sad that 9-5 isnt enough to survive, not thrive, SURVIVE in today's time. Just focus on yourself and what gives you a sense of purpose for you only live once and its a short life.
Your student debt, any debts really, do not automatically go to your children. Much of it will be settled and dissolved. Anything else maybe to anything left in your estate to pay. But your individual heirs are not on the hook unless they want to be.
Great video! ALUX, I believe you're completely wrong on number four; or you're not disclosing all the facts. You should really speak with an attorney before making statements that involve federal laws. First, I'd like to point out that, in the United States, people with federal student debt from a public institution can't pass it on to their children. If the person dies while still in debt, it gets discharged. Second, if you've obtained debt from a private institution, said debt can be garnished from the borrower's estate. If the estate cannot cover the debt, the lender cannot pursue the heirs to recover the debt. The only caveat to this is if someone becomes a co-signer on a loan. In this case, they may become responsible for repaying the debt. I doubt parents would make their children co-signers on their student debt lol.
I appreciate the thoroughness of this comment … I’m hoping viewers/subscribers are using their brains and see Alux or any other TH-cam channel as entertainment first and *perhaps* a source of information after that.
I'm surprised to see and hear ALUX inadvertently discussing federal laws and perpetuating inaccurate information about said laws. Such is the case with number four, where they talk about the children being responsible for their parent's debt. In the United States, that is illegal! Unless any individual becomes the "co-signer" on said loan, and or debt. Read the initial comment. I would advise anyone to speak with an ACTUAL attorney who specializes in this area of law before making such a statement.
You realize that this content is not just for the US? Multi-generational loans are already a reality in many countries. In Switzerland, for instance, you can get a 100-year mortgage - and that kind of mortgage is quite popular due to astronomical real estate prices.
@@TimurAbdullaev If you read my initial comment, I specifically referenced the United States. Why would I speak about people who live in other countries and their laws.. Not relevant.
Kids are not responsible for parents debt unless their name is on it. $10K in emergency savings is overkill. Earning 50% higher salary compared to 5 years ago is crazy. Most people don’t get a 10% raise in an amazing year, let alone five years in a row. Nobody is required to financially care for their parents. 1/2 of this list makes sense but is very basic. The rest is BS. In the end, they want to sell you something. This is why I stopped following this channel. This video came up as a suggestion. I figured I’d check in. But, this channel has not improved.
You're getting a few things wrong here. If you want to save the money and still have a good life, you need a skill- set many people don't have.If you want to dine well, you have to know, how to cook. If you want well- fitting designer clothes, the best way to get them, is to sew them. But it takes time and effort to make them. Many years ago, I saw a designer sweater for several hundred dollars in a store. I wanted to have it, no matter what. But I didn't have the money. So, I learned, how to knit, sew and crochet. It took a long time, but now I know how to do it. My clothes fit and they don't look self- made at all.😊
PreRich I love it I am definitely on the pre-rich plan. Because it wasn't my fault that I was born poor. But it will definitely be my fault if I die poor. 17:56
@@TommyTomTompkins I see a hell of a lot more of them than Boomers, Gen X or Z living like this - even taking into consideration their larger cohort size. Yet, somehow they are the cohort who cry poorhouse the most. I'm thinking credit cards.
Basically what this video is Explain why your poor. Then blame you for that being poor. Don't blame then systems that systematically puts you to be poorer and poorer No no no it because you didn't work hard enough. Don't blame the current system. Don't blame the people who pushes us in the current system. The biggest joke i ever heard in my life
the book that changed my approach to money is The Comic Guide to Financial Bombs all recommendations. It's completely different from anything I've read so far.
Capitalist to peasants: "It's your fault you're peasants. It's your fault we pay you a minor fraction of your hourly output. It's your fault we have the monopoly on violence (and everything else)".
Just an aside, I normally like and find value in these "tough love" videos, but this one has a real mean streak vibe that I don't appreciate of find valuable.
I developed a body that doesn't get ill, a mind that doesn't need material possesions, thrive on bread, potatoes, and water, started living in a car or at employment accommodations, and send a lot of my pay to support family. It's not the norm, but we can find meaning everywhere in life so long as we have purpose. In many ways, being uncomfortable with being poor is the only reason people make an effort to improve, but imagine a world where we co-developed the prosperity of our communities, enriching each other's lives, and being happy with things that are actually important. Give and Take may be the rules of the game, but my way for us all to win is give, and receive...
*My friend. I appreciate the time you spend on keeping us informed about the economy. As of January 1st 2024. I count on $2,500 what do you suggest me to invest in?🇺🇸🇺🇸*
It's truly heart- warming reading a lot of testimonials on Ms Yetta Cox. Her personality, ethics, principles and prowess as a Financial Adviser has gained her fame and recognition around the globe.
Being poor, especially not in a third world corrupted country (or a country that is in a state of war etc) - it's mostly the problem of being dumb and doing stupid stuff.
"All you need is this app and a mentor." Talk about a wolf in sheep's clothing. Bust your ass for a company that pays salary (no overtime pay), and you might hear something like, "I wish there were some way to compensate you." Reply with something like, "How about giving me some shares?" They'll likely offer to sell you shares at a price you can't afford (they know how much you earn, remember?) If you come from a wealthy family, no problem - get the money from the bank of Mom and Dad. If not, you've just lost out on overtime pay. Don't overthink it; capitalism is a zero-sum game, and poor people are poor because they don't have money to build wealth.
talks about the opportunities in tech. though starting later at a business, tech can give you huge advantages. for instance, a business in the 50's would have had word of mouth, radio to promote themselves... but now you have social media. so, your buyers are not just your town but the world.
03:16, This has me rollin' in laughter. xD "You've been having these ideas for over a decade, andddd you haven't done Shit." 🤣 Time for people to wake up, quit buying stupid shit that you do not need. Break the fucking chains and take back your lives, as Ronald Radke says in his recent album: Popular Monster. Happy New Years to everyone!
... parents have a mortgage they won't be able to pay in their lifetime? Really? Children don't assume student loan debt of the borrower in the U.S. unless they co-signed for it. The debt is charged off.
As a Gen Z. I learned that our generation never had the oppurtunity/chance to "grow up". Everything we say/cry about are stuff that we experienced in school/stuff when we where kids growing up in 2000s. I honestly think its the boomers holding us back because I worked for 3 years in a corprate techincal job saving up $70,000 living in my parents house and i still cant afford a house. Like how am i supposed to move out, start a family and grow my goals as a "adult"?????? They call us lazy yet these boomers are the ones making everything a subscription service so they can easily take money out of people without putting any work in for it.....aka lazy. I can buy all the other small stuff like food, car, games, books and etc...but when I wanna buy a house.....its magically a problem. These boomers will literally say "ItS NoT Ur TiMe To OwN a HoUsE".....like that doesnt make a lick of any sense!! Im in my mid 20s, stayed out of jail, never went college, presued "industry certifications" instead, got my job in the engineering position, worked/saved money for years now and now I wanna buy me a house. Like why do i have to wait 5000 years to buy a house in a 100,000k job????? This society is indeed rigged. Whoever says 100,000 is the new poor should be exposed because they are the people who screwing us GEN z people over to the max. None of this makes sense
Boomers get blamed for everything, and you're not, 'grown up' til you're 30 or even 35. Even the Founders of the United States, 250 years ago, ensured that no person, until reaching the age of 35, can take the oath of office to the Presidency.
This doesn't mention that public transport os really only in cities that have really high real estste costs. And then those people get stuck in a rut of not having personal transportation and getting squeezed on the rent side of things. Then they own absolutely nothing, and cant afford to leave. This is how NYC both support itself and is simultaneously screwing itself over because people with money and transportation can and will leave, while they continuously try to squeeze more and more out of those that have less. Ive seen it myself, and its not a good alternative. Plus all the inconvenience and safety concerns that are mostly gone when you own your own vehicle
Living with parents, is the best thing I could do, it's cheap living. The house is paid for, and will be mine, eventually. No debt either. I don't subscribe to anything.
I first subbed this page in the late 2010s and watched a video called "15 things poor people do that the rich don't". That was the day when I was so sick of being poor and googled "Why are poor people still poor?". Alux came up as one of the results. It said so many things that trigger people but I swallowed the pill because Alux was being realistic and true about things. Got into crypto in 2018, failed and tried again in 2020. That year was the year of fear, uncertainty, and doubt. I thought the opposite and invested so much of my uber eats income into crypto and I'm now doing good. Thanks Alux
CALIFORNIA: Even Peter Schiff says it's better to rent a home than to own one Black Rock and the federal government made home ownership of suckers game In fact if people aren't leasing their homes like they lease their cars they're losing
Very true. Boomers didn't have the advantage of all of this tech. Much harder to make a buck before. People are just spoiled now and refuse to acknowledge this fact. Their shame of this makes them fight the notion instead.
@@jimdandy8996that doesn’t make sense… if there’s tech now- that means everyone has access to it , which means the bar to entry is lower, which means it’s even harder. Back then it was easier because it was much less competition.
@@Lb-jm6wi Yes, the bar of entry is indeed lower, and competition was just as high back then if not worse. Think about soup lines during the Great Depression. Gen Y loves to cherry-pick the prior generational lifestyle they think they have a birthright to.
@ competition factually wasn’t as worse. It’s easier to compete with 1000 people with a bachelors degree then 100,000 people with one. Birthright to what? Cherry-pick what? Because we know literal facts? Black rock wasn’t buying up all the houses in the 1980s making it hard for regular people to own one - Fact. The ratio of pay to housing wasn’t the same in the 90s- fact. Hell, even in 2016 it was much easier. Competition is higher now & much harder now, back to back recessions plus inflation and a pandemic. Things old people didn’t have to deal with and that’s a #fact . Old people closed the door behind them and don’t have empathy for the facts of today .
@@Lb-jm6wi wow. Things are better now. B4 the minimum wage I didn't have a payrise for 10 yrs. At least now we have a fair chance of having a payrise every April
@@OhAwe Interest is the fee a bank charges for borrowing money. Some banks offer a fee of zero as long as you pay it off withing a certain amount of time so you'll pay nothing extra other than the original cost of the loan but only if it is paid off in the time they give you.
1:41 That number should be way higher than $1000. Depending on where you live in the US, I think $10k to $30k is adequate for a short-term safety net of 2-3 months.
I like this video. These are my challenges. 2:37 - I've worked at my job for nearly 15 years. 5:43 - I've grown my income by about 50% in the last 5 years. 7:42 - I use my credit card for almost everything. 10:06 - It's tough to find a mentor. I need one. 14:49 - I have skills but imposter syndrome is real.
There’s some points that are on the nose in this video but I heavily disagree with blaming people for acknowledging how broken the system is. Absolutely everyone is struggling and a lot of markers of adulthood that were accessible during the boomer gen are priced out of reach for the younger gens. I’m not saying that it’s a reason to give up on improving your financial status but if enough people acknowledge and speak up about the insane inequality there can be moves toward better legislation
It's like that for a reason. They are voting for the wrong things and are brainwashed into thinking that it will all work out. Well,they had 4yrs-it didn't work out. Stop voting for that liberal crap!😮
@@ondemandaquaworkouts How do you you know they are miserable? Did they tell you that themselves? I own Bitcoin and i am not miserable; And, my mood does not depend on how high or low it goes. If Bitcoin goes high then that's wonderful; if it goes low, that's even better because i see it as a discount; just like how you wait for Black Friday so you can go shopping. One thing you have to ask these people that you say are miserable is, what is their long term perspective, what is their endgame? Furthermore, you have to define what you mean by "few people". Few People does not (and should not) overshadow the majority of Bitcoin owners who aren't miserable; knowing one or two persons who own Bitcoin and are miserable (according to you) should not make you generalize the way you did.
@ I am only referring to to those I personally know . They are miserable; Also: until they sell , they truly only have a bitcoin - not the money ; and I think they know that. That is why it may be so scary to live this this “ Investment “. I wish you all the best !
I only do one of these things (live with family), but in my defense, I live in NYC. Also, its kinda by choice since I could go solo, but rent and utilities would cost me too much. Probably not 50% of my income, but i invest the difference. So I'm just gonna count myself as "not poor". Thank, Alux!!!!
This is our reality check. Living with mommie and dad is not you having more money so you can spend money. It's you leaching off your parents. I'm shocked parents are allowing this. When are you guys gonna step out into the world and do it all yourself? You need to be an adult-not a bigger child. For shame. Nope,I'm not sorry I've called ya out either.
You hit the nail on the head when you explained how trades are passing the person with a degree. I have multiple friends I know who’ve had a difficult time getting a job while I’m a plumber. I have 0 debt other than my mortgage. You gotta be damn good at what you do but it’s very rewarding and satisfying.
Because debt doesn't die with you. It lives on. Any debts (student loans, credit cards, back taxes, etc) are charged to the beneficiary of your estate, usually a spouse or children. This is mostly covered by life insurance. But, if someone dies with an absolute negative net worth, the next generation could see themselves in quite a pickle!
Times have changed. Unless you inherited millions, it's 0.0001% for the average human to get in to that club. The remaining 99.999% go to "try hard, die harder" club no matter the hubs like Alux, getting rich on someones wish to finally prosper...
All I own in 2025 is a used car, a bicycle, some gadgets, a mattress and some furniture. I feel anxiety for the future because regardless of the advancements on health and medicine, it is not for me, Im just out of that circle, i'm like in the stone age.
4:27 - Making children responsible for the debts of their parents constitutes a Bill of Attainder. This literally cannot happen in America. The founding Fathers thought this was so important, they forbade it in the U.S. Constitution-- _twice._
So to not be the new poor, you need to be very strategic you need to work very hard for a period of time to get ahead enough to get a house and you need to get an inexpensive house. Probably an inexpensive won’t get you a lot today and then you can stop working ridiculously hard and just start working hard so I had to work 80 hours a week two different jobs 40 hours a week with no overtime for two years to pay off my car and get my house down payment so now I can work one full-time job plus a lot of overtime so yeah there’s that and my house is under 1000 ft.² but when I pay it off 6 7 years after I bought it, it will be mine I have a $4000 car that is a 2006 Nissan Ultima with 36,000 miles on it and I have a couple small Japanese motorcycles that I ride everywhere because one of them gets 90 miles a gallon the other gets like 100+ I have no debt except for the mortgage and yeah, I had to be super strategic for a long time and I’m going to continue to be so to get ahead and not beat the new poor whereas like in the 60s, you could work a full-time job during the summer and then pay for your college and graduate debt free It really sucks. We have to work two or three times harder to get half as much so you have to cut really deep to get ahead, but it is still possible. It just takes a lot of work, but I fear that for future generations that’s not even going to be enough and that’s pretty crappy.
The main contributor to the GDP has been consumption! If the average person follows this advice, the future of consumption driven economic activity will collapse! 😂😂😂
calling struggling people in poverty “losers” or implying they’re inherently flawed for not “winning” in a rigged system? that’s next-level victim-blaming. the worst part is you know your audience is already vulnerable and overwhelmed, and instead of providing genuine help, you exploit those emotions to sell an app. alux isn’t about empowering people-it’s about profiting off their insecurities.
Bonus Item - You spend money on a youtuber's side hussle of custom merch, membership content, or courses promising wealth and success
Ouch! 👊😒😬🫢🫡
That's funny 😂
Oh the irony 🧐
That WHOLE part! 😂😂😂😂😂😂😂
Haha
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
Money invested is far better than money saved , when you invest it gives you the opportunity to increase your financial worth.
It is remarkable how much long term
advantage people like us have gotten by trying to be consistently not stupid,
instead of trying to be very intelligent.
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world.
Many individuals report success in investing in stocks,fx, yet I continue to struggle.Can somebody help me out or advise me on what to do?
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
4:09 "A homeless person on the street might not have much, but they're above $0"
Ouch, that hits hard
Yeah, that caught my attention, too.
CALIFORNIA:
Right in the coconuts 😫😖😵
You can't really say. They could be homeless because they lost everything from debt.
I’d rather be in debt than be homeless. Best to not be either ofc.
very helpful video
Living with parents doesn’t necessarily mean your poor. It’s damn near the only way a young person can stack up the funds to get started in life.
It could also be a way to become a millionaire, staying with your parents while you are making 6 figures a year just stacking money, not trying to impress anyone.
First car…. R/T charger 🧑🏽💻😮💨
@@tporter500 literally the vibes. I landed a remote gig and moved back in with my parents in my thirties to be able to get a chance to pay off debts, help my folks, and stack up more money than I’d had a chance to before.
So, you're still poor until you leave. Meaning that the point is still valid
@ No. Its not. Poverty is about the amount of money I have in my account… not where I live. I could move out today and be doing better than half the country. Moving out would actually make me poorer as I’d be spending on overinflated rent and items.
It’s time for me to stop being poor and start being pre-rich!
Please read and implement from the rat race to financial freedom by Manoj Arora.
3 things that helped me and literally changed my life
1. I stopped watching porn
2. I read the book called 'Genius Hidden Tricks'
3. Stop drinking
How did it change your life?
Nice bro this is good advices and yea book is great I already read it
author? book
3 things that helped me and literally changed my life
1. I stopped writing comments
2. I stopped reading comments
3. I stopped answering comments
4. Ceased talking with poor people
Scam ass book bruh 😂
We experienced the pinnacle of our era, but it is now gone. Like what happened to Rome, the corrupt administration will bring this nation to an end. My condolences go out to anyone who is close to retiring and may be worried about whether their pension will be enough to pay the rising cost of living. Insane fiscal policy, poor regulatory policy, poor energy policy, and poor foreign policy
50 and early retirement. I'm very worried about the future and where we're all heading, especially in terms of money and how to get by. I'm considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
This is awesome! I also began investing with a wealth manager in 2020. For a long time, I kicked myself for not realizing I could do that sooner. It's funny how I've now left my day job because my profits take care of all my living expenses.
Do you mind telling me about your financial planner?
Melissa Terri Swayne. If you look her up on the internet, you're going to surely find more information about her.
I checked her up on Google because I was intrigued. I studied her bio, and I must admit that her qualifications are quite exceptional, removing all doubt.
The only cash flow the new poor have is their job
That's how the working class has been forever
start a business and the job will be yours
That's very true.
If you think you're "middle class" just because you somehow managed to get a home, a family, a "good" job and a wife with a "good" job, yet are still affected by the issues in this video, you're still poor.
9:15
That's what ticks me off to no end. Banks make money with our money, and then, AND THEN charge us money for "maintaining" that money. What the hell?! Oh, right, it's 100% legal the same way companies can take out life-insurance policies on their employees and collect said insurance when the employee kicks the bucket. (AKA, Dead Peasants Insurance)
Also, the scary thing is that when it comes to video games, software, and certain other things, people don't own it what they buy. We're merely "leasing" it. At any time, the company that makes it could technically take away our rights to the product, shut the product down, etc.... Example comes from MMO games like Ever Quest Online Adventures, Star Wars Galaxies, Matrix Online, Wildstar, City of Heroes, etc.... All the time, effort, and energy put into that product for the items, events, and such, gone. Poof. Doesn't exist anymore.
that’s why I stopped playing online games. Coz ur just 1 ban away to lose all your progress.
YIKES.
- play to win NOT pay to win.
- Bank your money in investments NOT the Bank.
- Insurance companies are robbers. You pay them all that money and you're insurance payout is not always guaranteed. (hence why they offed that CEO🥲). Instead of giving your money to insurance just put it in a GIC or tax free account; you get tax for just breathing anyway.😅
Totally feel your frustration! It's wild how the system is set up to benefit banks and big corporations at every turn. You're absolutely right-banks profit off our deposits, then hit us with fees on top of it. And the whole 'Dead Peasants Insurance' thing is both legal and downright unsettling. It’s a reminder of how much these systems prioritize profits over people.
The 1% of rich people think of how to invest their money to increase their wealth during the recession. While 99% of struggling hard-luck people think of how to survive without food and daily necessities in the recession and the coming hyperinflation
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'd be retiring or working less in 8 years, and considering this financial recession, Im deciding to begin taking up skilled trades. I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, learn around $130K per year but nothing to show for it yet.
As a beginner, access to reliable information is vital to succeed, so also is professional guidance.
That's where a CFP comes in. Have you considered working with one?
I have been advised on that. Finding one who understands what I want and can work with me to achieve it is essential, although I'm yet to find one.
Any recommendations, please?
For me, I started out with *Joseph Nick Cahill* ,great advisor. I got very lucky to have found him especially after my marriage crisis & consider him a good friend now.
11:30 telling people they are the new poor yet at the same time selling them a subscription service lmao. Wtf people?
grifters, blatant opportunist grifters
Well, because I’m the new poor, I will not be subscribing. Gotta save that money where I can.
The fact that nobody talks about the book Forbidden Money Behind Closed Doors talks about dark techniques how people attract money
Who is it by?
@@ChrissyP884 huh?
"But you've had these ideas for over a decade and you haven't don shit" 🤣🤣🤣
I've been watching their videos and the calm "shit" always got me 🤣🤣
Isn't it interesting how billionaires often brainwash people into believing that chasing money isn't the path to happiness? The truth is, while money itself might not bring happiness, it does provide security and freedom. These billionaires are securing wealth for future generations, and one thing they all have in common is that they're investors. It's crucial for people to take their financial literacy seriously and consider investing in the stock market. It really can work for you and help you build the financial future you deserve.
The common belief that a stable job leads to financial success contrasts with the approach of billionaires, who focus on entrepreneurship, investing, and building passive income streams through long-term strategies and calculated risks methods not typically taught in traditional career paths. Most people are unaware of these alternative principles that can lead to greater wealth
You get rich by making credit work for you. Nobody ever got rich by saving money.
That's very practical and smart goal, a wise man once said do everything you can to get outta debt, one of his tips to get rich is Investing.
Investing and trading now will be the wisest thing to do especially with the current economic fluctuation and inflations.
Success usually comes to those who are too busy looking for it. If you're willing to do business or become an investor then you will be rich.
unless you’re a millionaire you’re poor
one million is nothing anymore
Not true.
I became a millionaire this year I agree. Millionaires are the new middle class.
One million dollars is a million more than you have.
@@immanuel_888 It has lost its meaning, but it's enough to secure a future or retire for most people. And hit that milestone early enough, 1 turns into 2 pretty quick and so on.
I'm retired at 27, went from Grace to Grace. This video here reminds me of my transformation from a nobody to good home, honest wife and 35k biweekly and a good daughter full of love
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
Wow that's huge, how do you earn that much?
I'm 37 years old and I've been looking for ways to be successful, please how??
Yeah, 253k from Maureen duke, looking up to acquire a new House, blessings.
I thank Maureen Duke who has always been there to help me with detailed analysis and recommendations that I would not have had access to otherwise.
I started my trade int with $5000, and in the space of one month I got credited with $22,000.
It remains my biggest win for the year 2024
I feel attacked, and that’s a good thing 😅😊
Same lol. She has called me out, it stings and i have heard 😂
Its time to seriously reflect😊
What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio..
there are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist.
I took charge of my portfolio but faced losses in 2022. Realizing the need for a change, I sought advice from a fiduciary advisor. through restructuring and diversification with dividend stocks, ETFs, mutual funds and REITs, my $1.2m portfolio surged, yielding and annualized gain of 28%
Mind if I ask you to recommend this particular coach you using their service? seems you've figured it all out.
She's "Abigail Ann Ryan" by name. please do your own research to see if she is suitable with your goals.
thank you for this pointer. it was easy to find your handler, she seems very proficient and flexible
Sadly with each passing day we can see the impact this awful policy has had on the UK. Tied up in red tape and tariffs with lower GDP than before the pandemic whilst the others in the G7, including Italy, are above. The lower GDP means we do not have the headroom to pay our way in the world and must resort to borrowing.Whilst there are rich people in the UK; a great many of us are poor and now we are poorer still. What steps can we take to generate more income during quantitative adjustment?
Indeed, you are correct! But on the advantageous aspect, economic downturns offer numerous prospects for ordinary individuals to create wealth from the ground up. Nevertheless, seeking guidance from an investment planner might be necessary if you desire a more assertive return.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help.
My CFA Carol Vivian Constable , a renowned figure in her line of work. 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.
Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
It's not that you're poor it's that you suck at being poor, if you want nice shit your going to have to take old shit and make it nice. Being completely useless is a luxury of the rich and you're not rich. -Best statement Ever
the broke cycle wont ever stop. if everyone wants to be a millionaire and ,for argument sake, becomes millionaire, we will witness the trend of wanting to be billionaire for millionaire is the new broke. I find it sad that 9-5 isnt enough to survive, not thrive, SURVIVE in today's time. Just focus on yourself and what gives you a sense of purpose for you only live once and its a short life.
Your student debt, any debts really, do not automatically go to your children. Much of it will be settled and dissolved. Anything else maybe to anything left in your estate to pay. But your individual heirs are not on the hook unless they want to be.
Great video! ALUX, I believe you're completely wrong on number four; or you're not disclosing all the facts. You should really speak with an attorney before making statements that involve federal laws. First, I'd like to point out that, in the United States, people with federal student debt from a public institution can't pass it on to their children. If the person dies while still in debt, it gets discharged. Second, if you've obtained debt from a private institution, said debt can be garnished from the borrower's estate. If the estate cannot cover the debt, the lender cannot pursue the heirs to recover the debt. The only caveat to this is if someone becomes a co-signer on a loan. In this case, they may become responsible for repaying the debt. I doubt parents would make their children co-signers on their student debt lol.
Take the meat, and leave the bones.
I appreciate the thoroughness of this comment … I’m hoping viewers/subscribers are using their brains and see Alux or any other TH-cam channel as entertainment first and *perhaps* a source of information after that.
I'm surprised to see and hear ALUX inadvertently discussing federal laws and perpetuating inaccurate information about said laws. Such is the case with number four, where they talk about the children being responsible for their parent's debt. In the United States, that is illegal! Unless any individual becomes the "co-signer" on said loan, and or debt. Read the initial comment. I would advise anyone to speak with an ACTUAL attorney who specializes in this area of law before making such a statement.
You realize that this content is not just for the US? Multi-generational loans are already a reality in many countries. In Switzerland, for instance, you can get a 100-year mortgage - and that kind of mortgage is quite popular due to astronomical real estate prices.
@@TimurAbdullaev If you read my initial comment, I specifically referenced the United States. Why would I speak about people who live in other countries and their laws.. Not relevant.
Kids are not responsible for parents debt unless their name is on it. $10K in emergency savings is overkill. Earning 50% higher salary compared to 5 years ago is crazy. Most people don’t get a 10% raise in an amazing year, let alone five years in a row. Nobody is required to financially care for their parents. 1/2 of this list makes sense but is very basic. The rest is BS. In the end, they want to sell you something. This is why I stopped following this channel. This video came up as a suggestion. I figured I’d check in. But, this channel has not improved.
Its not going to be too long till these loan companies start watching the obituaries. The private loans will put liens on estates.
So, you’re saying that 76% of the US is poor? Because that’s how many of American live paycheck to paycheck.
True, and that's the world, over 60% of China is living on roughly 120usd a month which is the poverty line there
Ask Gemini what percentage of Americans have 1 000, 5,000 and 10,000$ in their bank accounts and see where you stand.
Yes, they are poor
I am poor too
I recommend everyone to find the forbidden book titled Rich Hidden Magic, It changed my life.
Nice bro this is good advices and yea book is great I already read it
You're getting a few things wrong here.
If you want to save the money and still have a good life, you need a skill- set many people don't have.If you want to dine well, you have to know, how to cook.
If you want well- fitting designer clothes, the best way to get them, is to sew them. But it takes time and effort to make them.
Many years ago, I saw a designer sweater for several hundred dollars in a store. I wanted to have it, no matter what. But I didn't have the money. So, I learned, how to knit, sew and crochet. It took a long time, but now I know how to do it. My clothes fit and they don't look self- made at all.😊
@@afzender-bekendTo make the peasants think it's their fault they're exploited lmao.
@@OhAwe finally someone gets it
PreRich I love it I am definitely on the pre-rich plan. Because it wasn't my fault that I was born poor. But it will definitely be my fault if I die poor. 17:56
I don't get it. I see Millennials out on the town living it up everywhere. How are they able to do this? Credit cards?
High paying jobs or they have a business that is paying them big bucks....or they got a lot of money in crypto
@@TommyTomTompkins I see a hell of a lot more of them than Boomers, Gen X or Z living like this - even taking into consideration their larger cohort size. Yet, somehow they are the cohort who cry poorhouse the most. I'm thinking credit cards.
Tommy Tom Tompkins, all of which are incredibly unlikely, kid for the numbers referred to in question
Those are the ones with money. I haven’t went out in years .
Delusion
"If everyone is rich then no one is"
So if everyone is poor then nobody is poor.
@OneAndDone5150 exactly
@@OneAndDone5150 why do you people say this as a gotcha? its saying the same thing
The govt promised to only tax the rich. Then they created inflation to boost the value of our assets. 😂
7:41 if I pay with digital money, why is that bad for me, if it costs the same as paying in cash?
Correction Sweetie, the student loan debt dies with you. It is non transferable and non dischargeable in bankruptcy.
True, but they'll make you think otherwise
The last thing they want is their debt slaves realizing they can escape their debt by eating a lead pill.
Basically what this video is
Explain why your poor. Then blame you for that being poor.
Don't blame then systems that systematically puts you to be poorer and poorer
No no no it because you didn't work hard enough.
Don't blame the current system.
Don't blame the people who pushes us in the current system.
The biggest joke i ever heard in my life
16:47 "The biggest highlight is the call for everyone to change their mindset, develop high-value skills, and use technology to get rich."
the book that changed my approach to money is The Comic Guide to Financial Bombs all recommendations. It's completely different from anything I've read so far.
Thanks for sharing that
Poor and Broke are 2 different things
Capitalist to peasants: "It's your fault you're peasants. It's your fault we pay you a minor fraction of your hourly output. It's your fault we have the monopoly on violence (and everything else)".
Just an aside, I normally like and find value in these "tough love" videos, but this one has a real mean streak vibe that I don't appreciate of find valuable.
I developed a body that doesn't get ill, a mind that doesn't need material possesions, thrive on bread, potatoes, and water, started living in a car or at employment accommodations, and send a lot of my pay to support family. It's not the norm, but we can find meaning everywhere in life so long as we have purpose.
In many ways, being uncomfortable with being poor is the only reason people make an effort to improve, but imagine a world where we co-developed the prosperity of our communities, enriching each other's lives, and being happy with things that are actually important.
Give and Take may be the rules of the game, but my way for us all to win is give, and receive...
N.W.O.+W.E.F.= FEW OWN
Holy crap this is actually brilliant!
@@midnightc3351 Yeah, if you're a schizophrenic lmao.
*My friend. I appreciate the time you spend on keeping us informed about the economy. As of January 1st 2024. I count on $2,500 what do you suggest me to invest in?🇺🇸🇺🇸*
It's truly heart- warming reading a lot of testimonials on Ms Yetta Cox. Her personality, ethics, principles and prowess as a Financial Adviser has gained her fame and recognition around the globe.
Please, How Do I Find Неr????????????????🙏
If you watching this video you are poor. 😁
"So take your Hogwarts House OUT of your Twitter bio, and worry about your ACTUAL living situation!" She's talking CRAAAAAZY
investing in $ 333 is pre-rich mentality
Being poor, especially not in a third world corrupted country (or a country that is in a state of war etc) - it's mostly the problem of being dumb and doing stupid stuff.
Boomers didn't do this, politics ruined all our lives.
Central banking and excessive money printing.
Interesting information
"All you need is this app and a mentor." Talk about a wolf in sheep's clothing. Bust your ass for a company that pays salary (no overtime pay), and you might hear something like, "I wish there were some way to compensate you." Reply with something like, "How about giving me some shares?" They'll likely offer to sell you shares at a price you can't afford (they know how much you earn, remember?) If you come from a wealthy family, no problem - get the money from the bank of Mom and Dad. If not, you've just lost out on overtime pay. Don't overthink it; capitalism is a zero-sum game, and poor people are poor because they don't have money to build wealth.
Does anyone understand what the video is saying when getting to 17:00 ? I certainly do not get what they are talking about.
talks about the opportunities in tech. though starting later at a business, tech can give you huge advantages.
for instance, a business in the 50's would have had word of mouth, radio to promote themselves... but now you have social media. so, your buyers are not just your town but the world.
@@hwilcoxwelled explained 17:03
Y’all be recycling videos now?
It's still valuable.
Number 8 is debatable. I get money from people paying cash by using my credit card points, and I always pay on time. 😂
03:16, This has me rollin' in laughter. xD "You've been having these ideas for over a decade, andddd you haven't done Shit." 🤣
Time for people to wake up, quit buying stupid shit that you do not need. Break the fucking chains and take back your lives, as Ronald Radke says in his recent album: Popular Monster.
Happy New Years to everyone!
... parents have a mortgage they won't be able to pay in their lifetime? Really? Children don't assume student loan debt of the borrower in the U.S. unless they co-signed for it. The debt is charged off.
Facts, that's why we don't have the 100 year or 50 year mortgages in the USA unlike China
Correct. Student debt isn’t transferable. We paid our house off. It can be done but it takes time.
As a Gen Z. I learned that our generation never had the oppurtunity/chance to "grow up". Everything we say/cry about are stuff that we experienced in school/stuff when we where kids growing up in 2000s. I honestly think its the boomers holding us back because I worked for 3 years in a corprate techincal job saving up $70,000 living in my parents house and i still cant afford a house. Like how am i supposed to move out, start a family and grow my goals as a "adult"??????
They call us lazy yet these boomers are the ones making everything a subscription service so they can easily take money out of people without putting any work in for it.....aka lazy.
I can buy all the other small stuff like food, car, games, books and etc...but when I wanna buy a house.....its magically a problem. These boomers will literally say "ItS NoT Ur TiMe To OwN a HoUsE".....like that doesnt make a lick of any sense!! Im in my mid 20s, stayed out of jail, never went college, presued "industry certifications" instead, got my job in the engineering position, worked/saved money for years now and now I wanna buy me a house. Like why do i have to wait 5000 years to buy a house in a 100,000k job????? This society is indeed rigged. Whoever says 100,000 is the new poor should be exposed because they are the people who screwing us GEN z people over to the max.
None of this makes sense
Boomers get blamed for everything, and you're not, 'grown up' til you're 30 or even 35. Even the Founders of the United States, 250 years ago, ensured that no person, until reaching the age of 35, can take the oath of office to the Presidency.
by far the worst video ever made
😂😂😂
This doesn't mention that public transport os really only in cities that have really high real estste costs. And then those people get stuck in a rut of not having personal transportation and getting squeezed on the rent side of things. Then they own absolutely nothing, and cant afford to leave. This is how NYC both support itself and is simultaneously screwing itself over because people with money and transportation can and will leave, while they continuously try to squeeze more and more out of those that have less. Ive seen it myself, and its not a good alternative. Plus all the inconvenience and safety concerns that are mostly gone when you own your own vehicle
Reality check ✅
9:45 this image is of a child who got smart and chucked is parents in the fire pit and started saving money.
Living with parents, is the best thing I could do, it's cheap living. The house is paid for, and will be mine, eventually. No debt either. I don't subscribe to anything.
..until your parents need care.
@@joanramsey4002If you’re worried your parents are going to get in the way, you can just put them in a nursing home and have the place to your self.
@robertmaxa6631 Please do not tell anyone that you are ‘debt free’
People will hate for you for it, trust me
@@joanramsey4002You can just put them in a nursing home and have the place for yourself
1st - You can just put your parents in a nursery home
2nd - Don’t tell anyone you are debt free, people will hate you
Pre rich
Bull
I first subbed this page in the late 2010s and watched a video called "15 things poor people do that the rich don't". That was the day when I was so sick of being poor and googled "Why are poor people still poor?". Alux came up as one of the results. It said so many things that trigger people but I swallowed the pill because Alux was being realistic and true about things.
Got into crypto in 2018, failed and tried again in 2020. That year was the year of fear, uncertainty, and doubt. I thought the opposite and invested so much of my uber eats income into crypto and I'm now doing good. Thanks Alux
CALIFORNIA:
Even Peter Schiff says it's better to rent a home than to own one
Black Rock and the federal government made home ownership of suckers game
In fact if people aren't leasing their homes like they lease their cars they're losing
Borrowing money to buy a house to live in has always been a liability. No need to make fake villains to blame, it is just a stupid move.
The comment section is so uncomfortable lol c'mon everyone, it's time to get PRE-RICH so we can BE RICH! lets go...
The Boomers didn't screw it up. It's never been so easy to invest and make money 😊😊
Very true. Boomers didn't have the advantage of all of this tech. Much harder to make a buck before. People are just spoiled now and refuse to acknowledge this fact. Their shame of this makes them fight the notion instead.
@@jimdandy8996that doesn’t make sense… if there’s tech now- that means everyone has access to it , which means the bar to entry is lower, which means it’s even harder. Back then it was easier because it was much less competition.
@@Lb-jm6wi Yes, the bar of entry is indeed lower, and competition was just as high back then if not worse. Think about soup lines during the Great Depression. Gen Y loves to cherry-pick the prior generational lifestyle they think they have a birthright to.
@ competition factually wasn’t as worse. It’s easier to compete with 1000 people with a bachelors degree then 100,000 people with one. Birthright to what? Cherry-pick what? Because we know literal facts? Black rock wasn’t buying up all the houses in the 1980s making it hard for regular people to own one - Fact. The ratio of pay to housing wasn’t the same in the 90s- fact. Hell, even in 2016 it was much easier. Competition is higher now & much harder now, back to back recessions plus inflation and a pandemic. Things old people didn’t have to deal with and that’s a #fact . Old people closed the door behind them and don’t have empathy for the facts of today .
@@Lb-jm6wi wow. Things are better now. B4 the minimum wage I didn't have a payrise for 10 yrs. At least now we have a fair chance of having a payrise every April
Not a plug, but PayPal allows you to pay in 4 equal payments without interest (pay in 4).
That's true! I just did it.
cxxl i'm gonna try it
yeah, my Citi card does that also. Nothing wrong with splitting payments when there is no interest being charged.
What do you mean without interest? On a payment made? What do you think interest means??
@@OhAwe Interest is the fee a bank charges for borrowing money. Some banks offer a fee of zero as long as you pay it off withing a certain amount of time so you'll pay nothing extra other than the original cost of the loan but only if it is paid off in the time they give you.
Stocks are good.
Just not Starbucks.
Negative Dollars is a real thing
Solution, give up and take out student loans to cover cost of living for the next two decades shifting between useless degrees until AI takes over.
I mean that is everyone in USA
Not me! Paid off home and retirement account millionaire.
1:41 That number should be way higher than $1000. Depending on where you live in the US, I think $10k to $30k is adequate for a short-term safety net of 2-3 months.
Most of the U.S. don't even have $600 on their account 😅
I like this video. These are my challenges.
2:37 - I've worked at my job for nearly 15 years.
5:43 - I've grown my income by about 50% in the last 5 years.
7:42 - I use my credit card for almost everything.
10:06 - It's tough to find a mentor. I need one.
14:49 - I have skills but imposter syndrome is real.
#2 your emergency fund is under $1k
MY ENTIRE NET WORTH IS UNDER $1k 😭
"Your future is created by what you do today, not tomorrow. Take one small step forward now, and watch how it transforms your journey."💗
Owning a vehicle is an asset, try walking 10 plus miles one way to work. Having a vehicle is an asset. It helps reduce travel time. And time is money.
If you effectively use that time that is, because walking is healthy and can be mindfulness time as well
@yellowjacket275 Not if you're going from one job to the next and need to be at job # 2 within a small time frame.
Thank you Alux
This is valuable
#PreRich
There’s some points that are on the nose in this video but I heavily disagree with blaming people for acknowledging how broken the system is. Absolutely everyone is struggling and a lot of markers of adulthood that were accessible during the boomer gen are priced out of reach for the younger gens. I’m not saying that it’s a reason to give up on improving your financial status but if enough people acknowledge and speak up about the insane inequality there can be moves toward better legislation
Mass transit is unsafe in Blue cities like SF, Chicago, LA, Minneapolis, NYC!🔥
It's like that for a reason. They are voting for the wrong things and are brainwashed into thinking that it will all work out. Well,they had 4yrs-it didn't work out. Stop voting for that liberal crap!😮
I think the new poor has no bitcoin
I know few people who own bitcoins. They are all so miserable 😢, and their mood depends on on how high bitcoin is that day 😂
@@ondemandaquaworkouts How do you you know they are miserable? Did they tell you that themselves? I own Bitcoin and i am not miserable; And, my mood does not depend on how high or low it goes. If Bitcoin goes high then that's wonderful; if it goes low, that's even better because i see it as a discount; just like how you wait for Black Friday so you can go shopping. One thing you have to ask these people that you say are miserable is, what is their long term perspective, what is their endgame? Furthermore, you have to define what you mean by "few people". Few People does not (and should not) overshadow the majority of Bitcoin owners who aren't miserable; knowing one or two persons who own Bitcoin and are miserable (according to you) should not make you generalize the way you did.
@ I am only referring to to those I personally know . They are miserable; Also: until they sell , they truly only have a bitcoin - not the money ; and I think they know that. That is why it may be so scary to live this this “
Investment “. I wish you all the best !
I only do one of these things (live with family), but in my defense, I live in NYC.
Also, its kinda by choice since I could go solo, but rent and utilities would cost me too much. Probably not 50% of my income, but i invest the difference.
So I'm just gonna count myself as "not poor". Thank, Alux!!!!
This is our reality check. Living with mommie and dad is not you having more money so you can spend money. It's you leaching off your parents. I'm shocked parents are allowing this. When are you guys gonna step out into the world and do it all yourself? You need to be an adult-not a bigger child. For shame. Nope,I'm not sorry I've called ya out either.
You hit the nail on the head when you explained how trades are passing the person with a degree. I have multiple friends I know who’ve had a difficult time getting a job while I’m a plumber. I have 0 debt other than my mortgage. You gotta be damn good at what you do but it’s very rewarding and satisfying.
Uh, please walk us through how student loan debt gets passed off to your offspring? Maybe your spouse, but your offspring? This is news to me
Because debt doesn't die with you. It lives on. Any debts (student loans, credit cards, back taxes, etc) are charged to the beneficiary of your estate, usually a spouse or children. This is mostly covered by life insurance. But, if someone dies with an absolute negative net worth, the next generation could see themselves in quite a pickle!
It doesn't get passed to anyone, they'll make you think that it is but it doesn't and it's illegal to collect
I believe your kids' credit rating will be low till they pay it off. It's just not listed on that report.
@@Jennifer-nz2ss no
That's the ugly site of capitalism
Sunday.
Happy new year aluxes lady 👩 💖 thanks alotes babay 😊👏👏
You can't take ANYTHING with you!!!
Not your money, your health, your looks, skills/talents......NOTHING.
Times have changed. Unless you inherited millions, it's 0.0001% for the average human to get in to that club. The remaining 99.999% go to "try hard, die harder" club no matter the hubs like Alux, getting rich on someones wish to finally prosper...
I know i am poor, listening to ai telling me i am poor😢
😂 "Download the app and your life will change." LMFAO
For sure everyone watching this channel are poor 😂
All I own in 2025 is a used car, a bicycle, some gadgets, a mattress and some furniture. I feel anxiety for the future because regardless of the advancements on health and medicine, it is not for me, Im just out of that circle, i'm like in the stone age.
4:27 - Making children responsible for the debts of their parents constitutes a Bill of Attainder. This literally cannot happen in America. The founding Fathers thought this was so important, they forbade it in the U.S. Constitution-- _twice._
The new poor listen to hours of podcast a day.
If you are a "know it all" persom, yet still struggle with money, means you don't know shit!
So to not be the new poor, you need to be very strategic you need to work very hard for a period of time to get ahead enough to get a house and you need to get an inexpensive house. Probably an inexpensive won’t get you a lot today and then you can stop working ridiculously hard and just start working hard so I had to work 80 hours a week two different jobs 40 hours a week with no overtime for two years to pay off my car and get my house down payment so now I can work one full-time job plus a lot of overtime so yeah there’s that and my house is under 1000 ft.² but when I pay it off 6 7 years after I bought it, it will be mine I have a $4000 car that is a 2006 Nissan Ultima with 36,000 miles on it and I have a couple small Japanese motorcycles that I ride everywhere because one of them gets 90 miles a gallon the other gets like 100+ I have no debt except for the mortgage and yeah, I had to be super strategic for a long time and I’m going to continue to be so to get ahead and not beat the new poor whereas like in the 60s, you could work a full-time job during the summer and then pay for your college and graduate debt free It really sucks. We have to work two or three times harder to get half as much so you have to cut really deep to get ahead, but it is still possible. It just takes a lot of work, but I fear that for future generations that’s not even going to be enough and that’s pretty crappy.
The main contributor to the GDP has been consumption! If the average person follows this advice, the future of consumption driven economic activity will collapse! 😂😂😂
Enough of the Boomer blaming. It sounds petty and irresponsible.
If you owe ten thousand dollars, you're a debtor. But if you owe ten million dollars ,you're a partner
calling struggling people in poverty “losers” or implying they’re inherently flawed for not “winning” in a rigged system? that’s next-level victim-blaming. the worst part is you know your audience is already vulnerable and overwhelmed, and instead of providing genuine help, you exploit those emotions to sell an app. alux isn’t about empowering people-it’s about profiting off their insecurities.