1. Understand how money works. 2. The difference between an asset and a liability. 3. They are not entitled to anything. 4. How to be sociable and connect with other people. 5. Increasing income instead of lowering expenses. 6. How to create daily habits that give them incredible andavtages. 7. Money is a tool, and it's a good thing. 8. Stop expecting immediate results and avoid magical thinking. 9. Don't work for money. Have money work for you. 10. Solving problems is quickest way to get rich. 11. Not to waste time on things that do not correlate to the real world. 12. How to use good debt instead of bad debt. 13. 80% of the results come from 20% of the effort. 14. Having money doesn't make you a better person.
@@sivaprakash4607 Yes, coz if you have the right knowledge you can make money, on the flip side a lot of peoples with money lost everything because they didn't know how to keep them.
RISK. My parents didn't teach me about money. They taught me decorum, culture, grace, arts, etc. My grandmother taught me about money. My biggest deficit growing up beyond high school was overspending because I always thought my grandmother or parents would bail me out. They cut me off and I grew up real fast.
My Parents didn't teach me neither... I had to take Risks to Evolve for myself. Started at 17 to fill bags at supermarket, wash cars and invest the money in items to put on lottery for people to buy from me...and sometimes it stays in for myself. Today I have 3 apartments and going for 4 more...
Same. I just think they didn't want their child to indulge in the ways of the world. You also, for the most part, would not attend school if You found out how to make money at a young age.
@@alexmendez3217 I have stopped going to school and it was Worthed... I've learned more about and how to manage money. I'm Very Grateful and Happy in the Journey that I have passed through...
You're a rarity. Some kids need help, especially in this economy that our parents and grandparents screwed up. (If you're in your 30s-40s) My parents, husband's parents, most friends parents...all relied on handouts from their parents to pay for important things while they blew their money on nonsense. Yes even as adults with their own grown children. I will admit it's bittersweet for me and my husband...we had no help because they had already helped everyone else (including older siblings). But now we can say we earned 90% or more of what we have vs what the others can say. But it's been a struggle because of that. We don't have money to make money. We've never caught up on medical bills even with a bankruptcy. Have worked OT most of the past decade + some. Saved as much as we can. We have plans for our own companies and I feel optimistic but it's frustrating hearing parents and siblings complain about struggling that have and still have hand outs. My mom and aunt murdered my grandmother for a little early inheritance and is super poor still. Lol (They got away with it, it's not like the movies ....there are more people that get away with M than you might think). Though I stopped contact of course. Once I realized the police "could not" do anything. Pretty sure my mom's a meth addict now working in public schools in another state. My dad was smart enough to never attempt a college degree. Unlike my mom who has two masters. But he had a sweet job that didn't pay great but he saved well and stayed healthy except for weed....now he's addicted to weed and quickly losing everything. His mom and dad left behind a good amount for him to be able to get a home with. He neglects it and quit his easy job to retire early because lazy. But now he's running out of money fast. Perhaps if they were cut off sooner they would've been better off. Idk. But his siblings had more help financially and they are doing swell. My in laws are ignorant with their money but they have a lot more security than we do because they also had hand outs. It depends what is done with it or not. If I could afford to get my child a property I would. Times are hard and likely to get harder. I don't think there's any harm in helping family. It depends on who they are ....some people will take help and just be entitled until removed and become crack heads ....others will actually learn from it. Some will get help and return the investment ten fold.
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
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. This is still a time to invest in Stocks, Forex and Digital currencies.
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.
I agree with you!! Money actually grow on trees but only on trees that was planted by you!! These tress are referred to as investments. How you diversify your investment portfolio matters
@@slinky_lapmoney itself is not evil. That's ridiculous. The love of money is that a person reveres the object itself rather than the options and security/lower risks that money provided for them or their loved ones
My grandpa was a migrant with nothing he worked his ass off beginning with a fruit stand outside his house. This became a chain of fruit shops. My family aren’t rich but they are on the top end of middle class and the number 1 thing he taught me was that money doesn’t define you
I love "money doesn't define you". 💜 So important. But I was going to mention where I live you can't be poor and have a fruit stand. Lol 😆 At least not without permits and a lot of time and money spent on the fruit and not doing other work. Growing even one fruit tree is super expensive here and I grew up being taught anyone who owns property is privileged. My great nonna was the first line of immigrants from Italy on my mom's side, and my great granda from Poland. My dad's side goes further back to the Dutch and some others we don't know well of the lineage. But times are different now. The economy is horrific thanks to Democrap policies....we still suffer for economics put into motion by the Clintons and Obama. My mom was single on purpose, as was her mom...and she had a master's degree she was always paying off, condo by the time I was 10. New car. Terrible with money. We always went on vacations and she would spend hundreds every month on silly things. (We were considered "poor" back then). Cut to my husband and I having our first baby, unable to find good work, sleeping on sofas and in the broke down car when we could finally afford a Craiglist junker....I was too poor to afford appropriate/safe childcare. Thank God. It taught me a lot... Now we fully homeschool. We removed our kids from public pre k because of abuse and never looked back. In poverty and now doing ok. We WERE doing very well with Trump. Now we struggle again. But I'm grateful we can homeschool and all that. Most people today that are poor buy stupid crap.... expensive shoes that aren't even to wear for foot health...terrible toxic materials in bags and chemicals in make up etc. I buy maybe $40-60 of make up every YEAR because I barely wear it. My skin is healthier than most people and I really need to take better care of it. People spend money on wrong ways. What you do with money says a lot about you but I agree that shouldn't mean it defines you.
Even though she didn’t mean it the way I’ve come to apply it, the best lesson my mother taught me was “mind my own business”. I’ve come to run my life as if I’m a walking enterprise and don’t have the energy to care about or run anyone else’s business for them. Great video my friends per usual 👌🏾🙏🏾
Risk. I did learn something from my Grandma who worked in houses and had her own boarding house. My mom shared her Ebony and Jet magazines with me...that open new worlds for me 🎉😊
My father was not an highly educated man. However, he was very wise. His key advise to me in my teenage years was, "save money. " Now, with Alux and my father's teaching, I am on my way to having enough. I have started this journey with my first rental property. Thank you Alux family for enhancing my outlook on life. *Risk*
Quitting is a habit. If you do it once, especially while young and vulnerable, you’ll never feel good enough. I quit my first big venture almost 10 years ago and havent recovered since. Now im finally back on my feet and heading towards, but since then so much life has happened and I have 2x as many burdens and responsibilities on my back just to carry out the same level of plans. So, do it young cause older you get the harder, in a very real way.
My family has been one of the richest and lost it 3 times over then made it again. The lesson no one can take away education, even my grandmother had a university degree 90 years ago. If you don’t want to lose all your money be careful of ongoing cost of things you buy and have a plan how you are going to pay for it.
So many good points, but phrased is such a demeaning and dismissive way. As a “rich” person I agree with your points. As a human being, I’d tell you to experience the world a LOT more. You sound like you’ve never even met a “poor” person. Your privilege is oozing all over. It’s gross!
Exactly! Poor people spend their money right away, because they have bills to pay and supplies to buy for their family. There’s no extra money left over. They’re probably in the negative. And you also need money to make money. That’s why poor people focus on lowering expenses. Perhaps they shouldn’t have used poor people as an example, but said something like the average earner instead. I’ve been homeless as a kid; we discussed money a lot.
Poor people more or less choose to be poor. I used to use those same excuses and that's all they are, excuses. Living paycheck to paycheck, payday loans every week, loans, credit cards, and even resorting to illegal things to put groceries on the table. Got tired of it, grew up, accepted responsibility and changed it, it's not complicated. I am married with three children and one income, my spouse has endless health problems, we have no family or friends to help but yet we did it. I just worked and worked and kept taking jobs with better pay. Took a few years but, now we have a house and a few cars. Also, I dropped out of highschool so I mean, I didn't have anything working for me and yet I did it. Unless you are completely paralyzed and brain dead, your own choices keep you poor and nothing else .
@@siig9905 You got a job instead of making your money work for you. You also bought a house and cars. You succes story contradicts the advice given by this channnel.
@@bdnnijs192 Well duh l, as much as my kids may annoy me I can't let them sleep on the sidewalk 🤣 the advice on here makes for guidelines not the rulebook
In my family nobody teached me about financial management. All over the years i changed my mindset about money, and now in my 40s i took a different path. I'm more financial aware, having more money,my lifestyle improved!
My parents thought me values and being humble. My parents arent rich and they almost dont teach about the real world. Instead, life taught me. I became a self taught at everything. Well, thanks to the open source library (books) online that is existing right now. Everything is free(ONLINE) you just have to explore it.
RISK. What my parents taught me is that life is hard and you have to become hard to see life easy again. Hard work is what I got from my parents. To get anything, you have to work hard for it don't blame, don't whine, understand that you, yourself need to make the change and no one else is going to help you. They never told me when I was 7 - 18 that there were better ways to improve with the use of money.
Dear there is a neutral account other than assets and liabilities Please work on that ASAP. There is also a neutral account other than debits and credits. Like there is protons neutrons and electrons in the universe
Everything was going good until it start talking about money is tool and important...it's blue pill video 😂😂😂lamao Money is not just peice of paper...you confused with having satisfaction and power both are opposite yet yin Yang
Thanks for the clear and concise presentation of everything I’ve been gradually learning as a small business owner. SO much childhood advice was about the importance and value of being RISK-adverse. Thankfully I didn’t subscribe to that mindset. It’s been a roller coaster and I’m only just getting started, but it’s made life so interesting and engaging. I feel like I’m really participating in the world and making a contribution to humanity. It’s a lot of work but great way to live.
Things my Dad (now 88 years young) taught me: Not to buy a car with a bank loan (my husband and me have been buying secondhand cars for the past 25 years). Invest your money in real estate or a business. If you start a business, make sure you know everything about it by educating yourself and putting in the time it needs for the business to become successful. And, "Do not flaunt with your money, cause lots of people do not really appreciate you being wealthy!" 😁😁
Humility and respect is the first thing rich people teach their children? I don't think this channel knows enough wealthy parents. They're just like any other tax bracket. Some of them are absolute monsters (inflicting abuses that would have sent another tax bracket to prison) and some are genuinely kind albeit in a sort of obtuse way. Nothing special. Stop putting them on a pedestal. For reference, my parents were the former.
Employees: “I work hard everyday too but do not get rich! Life is Unfair…” BRO. You work hard in REPEATED DAILY STUFF like commuting and DOING what your boss tells you to do, in a specific timeframe of 8 hours. Then you go home and play and eat chips and pizzas EVERYDAY TIL 65. The difference of rich people or ASPIRING ones is that they DO NOT STOP learning; they prioritize health and there is no end point. Employees stop learning after college because they mastered what they want to do (what businesses need to hire them) Then it comes down to satisfaction and comfort that makes us poor. Shifting this mindset is the most important thing, no matter your current situation.
While this video had many valid points. But some of them were the MOST IGNORANT CONSEPTS I HAVE EVER HEARD. “If u don’t make friends before 4, u won’t have friends!” Please
I was beat down by a tyrant type of dad . Always correcting and criticizing us (5) and nothing was EVER “ good enough “ . I grew up with a low self esteem and also grew up pretty poor . He taught us to have a good work ethic and to work hard at our jobs and we will be rewarded “ someday “ . His intentions were good but didn’t do ANY of us any good as far as having confidence leaving the house at 18 . I’m 64 and just NOW gaining self respect after getting wiped out in a divorce rape 13 years ago . These things here were awesome to hear …
They thought me kindness. When i was a little child many times stray animals came to our home and some was sick and had worms on them. We used to eat 1 meal a day sometimes none but my mom would take her little cash and buy food and medicine for the sick animals. I grew up the same way. Now I help all animals I can with little of what I have.
Risk. My parents did not teach me anything about money. I observed how they managed money. We lived in West Africa and my parents lived apart (but married) in different states due to work demands. I lived mostly with my father who worked for an oil company. I went from eating three meals a day and enjoying the good life as a kid to struggling to eat one meal day (yea, my father was fired from his job); my father struggled to feed us and that impacted me; I became stingy with money when i finally had a little success in life because i was afraid to spend money on any thing ( i did not want to let go and thought i was wasting it if i spend it). Now, I spent a lot of my money on acquiring assets and investing in experiences (i.e. travel).
While I’m a self made millionaire, I do wish I was more aggressive with my investments when I was younger. This list is not great, many of these principles are things I strongly disagree with
@@amandagallacher8173 If I could do it all over again, I would have paid off my debts. Then I would have built a 6 month emergency fund. I would then fund 15% of my income into retirement accounts (maybe half pre-tax half post tax) all in low fee index funds. Then I would have invested every dollar extra beyond retirement and emergency funds in a low fee index funds. If I wanted to make different big non stock market investments (say rental property) I would have paid at least 50% down and pulled those from my non retirement index funds. This is the quickest path without taking on too much risk based on my experience
@@amandagallacher8173 It seems my last post was deleted. If I could do it again I would first get and stay out of debt outside of my home and major investments. After paying off my debt I would immediately work to get a 6 month emergency fund. I would begin investing 15% of my income into retirement split 50/50 in pre and post tax into low fee index funds. I would invest every dollar above my emergency fund into low free index funds. I would pull from my non retirement index funds for major purchases (cars, real estate, etc) Pretty basic things, what I did wrong was hoarding 15-25% of my net worth in savings accounts and CD’s. I was afraid my investments would go down in value before I needed them and thought I could time the market. Probably cost me $500-$700k in additional wealth I could have today. As you hit 40, I do think it’s good to ensure you are diversified. Maybe 30-50% in real estate (home, etc), 30-60% in stock market. Any additional in alternative assets preferably that generate income.
@@amandagallacher8173 If I could do it again I would first get and stay out of debt outside of my home and major investments. After paying off my debt I would immediately work to get a 6 month emergency fund. I would begin investing 15% of my income into retirement split 50/50 in pre and post tax into low fee index funds. I would invest every dollar above my emergency fund into low free index funds. I would pull from my non retirement index funds for major purchases (cars, real estate, etc) Pretty basic things, what I did wrong was hoarding 15-25% of my net worth in savings accounts and CD’s. I was afraid my investments would go down in value before I needed them and thought I could time the market. Probably cost me $500-$700k in additional wealth I could have today. As you hit 40, I do think it’s good to ensure you are diversified. Maybe 30-50% in real estate (home, etc), 30-60% in stock market. Any additional in alternative assets preferably that generate income.
One thing I learned early was that health comes first. I have not had a time longer than 3 months in the last 25 years since HS without health insurance. As a T1 diabetic, having healthcare is vital, and without it, I would not be healthy enough to work. Also, set goals, and keep working toward them. Just because things are hard does not mean you should stop.
"5. Increasing income instead of lowering expenses" This is directly contradictory to how profitable businesses function. They don't waste. Every expense serves a purpose and efficiency is constantly reviewed, so it is both, not one or the other. Increasing income increases risk so more often then not, on a personal level, it is simply better to lower expenses. "9. Don't work for money have money work for you" This is a cutthroat mindset that impoverishes others. There is more to life than being a millionaire just ask any nation that went through hyper inflation, the problem is resource procurement, and that only happens with good old fashion hard work, engineering, and ingenuity.
number 5 doesn't really ring true imo, yeah increasing income is important but the problem, especially these days, is lifestyle creep where people make more and more money but then increase their expenses to match. From everything I've heard from millionaires and billionaires it's cutting back on the unnecessary expenses such as Starbucks and going out to eat. If you are living paycheck to paycheck but going to Starbucks every day and eating out every day or every other day then you should cut back on that, make coffee at home and meal plan. That 5$ coffee a day or often times multiple times a day is basically throwing away $1500 a year. you'd save another 5-10 dollars per meal if you meal prep, and that's assuming you aren't stupid enough to be doordashing your food, if you're doordashing food you'd probably be saving 20-25 dollars per meal by meal prepping.
Also. Habit of taking action and not over thinking. Ability to ask good questions and learn from wise people. Understanding the time value of money. Attention to detail with contracts. Long term thinking. Ability to negotiate and willingness to let both parties get a good deal. Courage and perseverance. Staying away from the news and pervasive negative mindset in pop culture. Attitude of making things happen. Setting goals and have the self discipline to execute.
RISK: Not so much exclusive to money, but the advice I got was to always give myself more options instead of less by the decisions I make. I apply this to my finances to grow the pot with the long term in mind.
Risk: My grandfather told me as a 12 year old child, be proud of who and what you are and don't let anyone tell you different. To this day I still think about that and it motivates me
Risk I think a better way of addressing increasing income versus lowering expenses is to emphasize increasing passive income while lowering personal expenses. For example, if someone has 2.5 times their personal expenses in passive income, and the individual only uses half of the passive income to always pay 1 period ahead, that individual will always be able to cover those necessities while the ratio increases periodically. Of course, this is for people starting out. Once the necessities are covered, then the aspirations can be pursued without concern. I’m aware that some may feel this will create complacency and a lax attitude, but that is only true for those who are not ambitious already.
Work hard, but smart!!! Opposite of this in some ways. Dad did construction... and so did I as a summer job from middle school on. His goal was to teach me to work hard, do quality work... but NOT follow his footsteps. Get an education and work smarter. Had a long road in steps from food stamps and government housing to EMT, firefighter, paramedic, RN, then eventually BSN. Averaged about 50-60 hours a week most of my life. Always wanted a doctorate but after 4 years of IVF had my daughter at 48 yo and choose time with her as she grows up over that life goal. HOWEVER, sadly a less than a year after he died, I became the first millionaire in my family line. So I'm here learning how to help my daughter continue that path. ❤
Use your SUBCONSCIOUS mind u will be on top of your dreams lets connect for bussines I have Passionfruits and Ginger on my farm in plenty any one for market
Risk. My parents didn’t teach me anything about money. My dad told me at 15 that if I wanted to go to college, that I had to start working (in 2008). It is videos like this and lots of struggles over the years that taught me about money, integrity and wisdom. In 2023, I sold my 10% ownership of a small business to start my 3rd business since 2018 in which I now am majority owner (75%). It’s the grace of God that helped me get this far and the generosity of those who walked before me.
Do you guys have books of the same, that one can read on the same? At times it might be tedious to keep on glaring at my screen, since this is where I spend much of my time as I do other stuffs? It would be of great help and benefit to persons like me.
Risk. Is buying Gold Coins a Liability? You said something like: "Education System is a Bad Thing!" Would You go to someone who isn't a Doctor when You have Health Problems? My Dream in Life is to be a Doctor and Rich! Is that a wrong Thing?
1. Teachers do not treat you're better 2. Employers don't care about you kniw matter HOW NICE YOU ARE. 3. I went down That road as a teenager. All it got me was DEAD END JOBS. 4. HE WHO MAKES THIS CHANNEL IS PROBABLY AS POOR AS ME.
This channel consistently mixes up depreciating assets with liabilities. They aren't one and the same, and accurate definitions are important if the aim is having financial literacy and educating the viewer... A car is a depreciating asset that comes with inherent expenses. A loan is a liability. A house owned in a good area is an appreciating asset with inherent expenses. The loan on that house would be the liability. Get them right
Just remember, when you invest your money in real estate, shares, dividends, etc. You'll start to get some reasonable profits after multiple decades, usually 20-30 years. So do not expect when you start investing to become rich in the next few years as it doesn't work that way. Investing your own money is a very long process, so be patient as most of the advice channels on youtube will never tell you about. Also, in 2024-2025, everyone expecting a massive financial credit crunch due to the nato-nazi-ukraine war against RF. So, be aware and ready for it.
Lots of the tips are really great. I would even add that one needs to assess these tips in light of one's own situation. One thing I keep hearing though totally doesn't make sense for me, i.e. don't waste time on education or no one cares about your degree. That is contrasted with improving your skills etc. These are contrasts. Your degree can get you incredibly far in terms of success and money. Some degrees don't give you a lot, but degrees that actually teach you essential skills are quintessential, like medicine, law, engineering and similar. In Sweden, where I live, lawyers like I earn extreme amounts of money, and if we invest our money wisely, our Fortune will grow very fast. Also, some degrees are essential if you want to get specialised knowledge which you can then improve with time and experience
My favorite parents are rich and they never taught us any of this. We had the best educations. Some even overseas. It is our responsibility to make a life and get education we seek as adults ourselves. An education also always leaves u a way to make money for your choice of lifestyle. My dad was a doctor and a corporate patent attorney. While I’ll inherent all his property and money it’s upto me to figure it out. The only thing in this video that I could relate to is…. My parents never talked about money. It wasn’t my business. I knew we had money from the lifestyle we lived. It wasn’t til I was an adult that I realized my friends lived in apartments and their parents didn’t make what my father made. No I won’t let my son spend it all. However, I literally had to teach myself how to do this. Teachers don’t discriminate based on family income. Stop 🤥 it Pinocchio
Risk ,Honestly I feel your parents teaching u valuable things is super important and has sum to do with u growing up fast my brothers mindset is super diff from mines and I try to teach them in life but in my life I wish I was taught things I didn’t know and learn all on my own
STOP with the Kiyosaki BS telling people that an asset is only something that makes you money. I get the concept you're trying to explain, but you guys need to find your own terms to describe it and stop confusing people by trying to hijack basic principles. asset - property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.
Not just “risk” but the optimal RISK/REWARD ratio! Thanks for the video... I love the way you did your marketing in the middle of this video instead of at the beginning or the end.
Laziness, some people hate rich people because they are jealous but too lazy to do anything themselves and feel they are entitled to the benefits of someone else’s hard work that took time to achieve. Reminds me of kids who kick sandcastles over at the beach it’s easier to do that than build your own. A common trait in younger people who think all the rich should be taxed more because younger people are not old enough to have worked a lot and saved.
A house may not be an asset, I don’t know for sure. But calling it as a liability is a bit of a stretch. In great countries like the Netherlands (AAA rated by S&P) the house rent is higher than mortgage monthly payments. One gets mortgage of 100% and few years earlier people used to get even 110% mortgages to cover agent fees, registration fees, etc. So one has to live in the house paying same amount of money for rent or mortgage (because house owners don’t fix houses or pay municipal taxes out of their pocket. They pass those costs to renters. After all, if there is no profit involved then no company like BlackRock will rent their houses but sell them off)
Risk :D New to this channel, saw first video yesterday, this one today. Surprisingly honest and truthful. Will keep watching and thank you for your production.
Risk…my parents definitely taught me money was the root of all evil. Thankfully I didn’t listen to them and I’m teaching my children the ALUX way. When you know better you do better.
About the worst advice anyone can give. "The LOVE of money is the root of all evil" Money is a powerful tool like a car. You can abuse it or use it for your benefit.
Rich people teach their kids how to get their money's worth. If they are over paying for something... they dont just teach their kids the value of money but the value of everything. This also teaches them to be fair in paying for something.
Risk. I did teach my son most of these lessons. Then he, when he was 18-19yr old, taught me about outsourcingb mundane everyday household jobs and use that time saved to develop myself😂
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1. Understand how money works.
2. The difference between an asset and a liability.
3. They are not entitled to anything.
4. How to be sociable and connect with other people.
5. Increasing income instead of lowering expenses.
6. How to create daily habits that give them incredible andavtages.
7. Money is a tool, and it's a good thing.
8. Stop expecting immediate results and avoid magical thinking.
9. Don't work for money. Have money work for you.
10. Solving problems is quickest way to get rich.
11. Not to waste time on things that do not correlate to the real world.
12. How to use good debt instead of bad debt.
13. 80% of the results come from 20% of the effort.
14. Having money doesn't make you a better person.
9. Knowledge is more valuable than money in long run
@@sivaprakash4607 Yes, coz if you have the right knowledge you can make money, on the flip side a lot of peoples with money lost everything because they didn't know how to keep them.
15. Investment
✅📝🙏🏿💡
All can be easily taught BUT rich family did the same. Poor people teach the same but never did.
RISK. My parents didn't teach me about money. They taught me decorum, culture, grace, arts, etc. My grandmother taught me about money. My biggest deficit growing up beyond high school was overspending because I always thought my grandmother or parents would bail me out. They cut me off and I grew up real fast.
My Parents didn't teach me neither... I had to take Risks to Evolve for myself. Started at 17 to fill bags at supermarket, wash cars and invest the money in items to put on lottery for people to buy from me...and sometimes it stays in for myself. Today I have 3 apartments and going for 4 more...
Same. I just think they didn't want their child to indulge in the ways of the world. You also, for the most part, would not attend school if You found out how to make money at a young age.
@@alexmendez3217 I have stopped going to school and it was Worthed... I've learned more about and how to manage money. I'm Very Grateful and Happy in the Journey that I have passed through...
You're a rarity. Some kids need help, especially in this economy that our parents and grandparents screwed up. (If you're in your 30s-40s)
My parents, husband's parents, most friends parents...all relied on handouts from their parents to pay for important things while they blew their money on nonsense. Yes even as adults with their own grown children.
I will admit it's bittersweet for me and my husband...we had no help because they had already helped everyone else (including older siblings). But now we can say we earned 90% or more of what we have vs what the others can say.
But it's been a struggle because of that. We don't have money to make money. We've never caught up on medical bills even with a bankruptcy. Have worked OT most of the past decade + some. Saved as much as we can.
We have plans for our own companies and I feel optimistic but it's frustrating hearing parents and siblings complain about struggling that have and still have hand outs.
My mom and aunt murdered my grandmother for a little early inheritance and is super poor still. Lol (They got away with it, it's not like the movies ....there are more people that get away with M than you might think). Though I stopped contact of course. Once I realized the police "could not" do anything. Pretty sure my mom's a meth addict now working in public schools in another state.
My dad was smart enough to never attempt a college degree. Unlike my mom who has two masters. But he had a sweet job that didn't pay great but he saved well and stayed healthy except for weed....now he's addicted to weed and quickly losing everything. His mom and dad left behind a good amount for him to be able to get a home with. He neglects it and quit his easy job to retire early because lazy. But now he's running out of money fast.
Perhaps if they were cut off sooner they would've been better off. Idk. But his siblings had more help financially and they are doing swell. My in laws are ignorant with their money but they have a lot more security than we do because they also had hand outs.
It depends what is done with it or not. If I could afford to get my child a property I would. Times are hard and likely to get harder. I don't think there's any harm in helping family. It depends on who they are ....some people will take help and just be entitled until removed and become crack heads ....others will actually learn from it. Some will get help and return the investment ten fold.
So many of our parents dis not have this knowledge of finances
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
You're correct!! I make a lot of money without relying on the government,
Investing in stocks and digital currencies is beneficial at this moment.
Job will pay your bills, business make you rich but investment build and keep wealth long term, the future is coming.
Life is easier when the cash keeps popping in, thanks to jeffery kathryn services. Glad she's getting the recognition she deserves
I'm 37 and have been looking for ways to be successful, please how??
I also work 3 jobs and I'm trying to pay off my student loan for a while now,I needed an opportunity like this. Can I start with as low as $1,000?.
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. This is still a time to invest in Stocks, Forex and Digital currencies.
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.
The greatest technique for beginners is to trade with the supervision of an expert.
The BIGGEST LIE You've Been Told About Money is that it doesn't grow on TREES!! 😆
I agree with you!! Money actually grow on trees but only on trees that was planted by you!! These tress are referred to as investments. How you diversify your investment portfolio matters
9:16
Once again, that is misquoted.
The quote says “The LOVE of money is the root of all evil” not the money itself.
Why??
I've never heard anyone talk about the love of money, everyone talks about money or power It's the evil
@@slinky_lapmoney itself is not evil. That's ridiculous. The love of money is that a person reveres the object itself rather than the options and security/lower risks that money provided for them or their loved ones
My grandpa was a migrant with nothing he worked his ass off beginning with a fruit stand outside his house. This became a chain of fruit shops. My family aren’t rich but they are on the top end of middle class and the number 1 thing he taught me was that money doesn’t define you
I love "money doesn't define you". 💜 So important. But I was going to mention where I live you can't be poor and have a fruit stand. Lol 😆 At least not without permits and a lot of time and money spent on the fruit and not doing other work. Growing even one fruit tree is super expensive here and I grew up being taught anyone who owns property is privileged.
My great nonna was the first line of immigrants from Italy on my mom's side, and my great granda from Poland. My dad's side goes further back to the Dutch and some others we don't know well of the lineage.
But times are different now. The economy is horrific thanks to Democrap policies....we still suffer for economics put into motion by the Clintons and Obama.
My mom was single on purpose, as was her mom...and she had a master's degree she was always paying off, condo by the time I was 10. New car. Terrible with money. We always went on vacations and she would spend hundreds every month on silly things. (We were considered "poor" back then).
Cut to my husband and I having our first baby, unable to find good work, sleeping on sofas and in the broke down car when we could finally afford a Craiglist junker....I was too poor to afford appropriate/safe childcare. Thank God. It taught me a lot...
Now we fully homeschool. We removed our kids from public pre k because of abuse and never looked back. In poverty and now doing ok. We WERE doing very well with Trump. Now we struggle again. But I'm grateful we can homeschool and all that.
Most people today that are poor buy stupid crap.... expensive shoes that aren't even to wear for foot health...terrible toxic materials in bags and chemicals in make up etc.
I buy maybe $40-60 of make up every YEAR because I barely wear it. My skin is healthier than most people and I really need to take better care of it. People spend money on wrong ways.
What you do with money says a lot about you but I agree that shouldn't mean it defines you.
Even though she didn’t mean it the way I’ve come to apply it, the best lesson my mother taught me was “mind my own business”. I’ve come to run my life as if I’m a walking enterprise and don’t have the energy to care about or run anyone else’s business for them. Great video my friends per usual 👌🏾🙏🏾
Risk. I did learn something from my Grandma who worked in houses and had her own boarding house. My mom shared her Ebony and Jet magazines with me...that open new worlds for me 🎉😊
Saying that the rich don’t worry about lowering expenses is ludicrous.
This list sounds like it was written by someone pretending to know.
@@Ydy-d7u oh word
Don’t exchange Time for money
Had us invest our pocket money in stocks in primary school
Warren Buffet has lived frugally and so are some wealthy people..
Warren is a real inspiration....😊
My father was not an highly educated man. However, he was very wise. His key advise to me in my teenage years was, "save money. " Now, with Alux and my father's teaching, I am on my way to having enough. I have started this journey with my first rental property. Thank you Alux family for enhancing my outlook on life.
*Risk*
Quitting is a habit. If you do it once, especially while young and vulnerable, you’ll never feel good enough. I quit my first big venture almost 10 years ago and havent recovered since. Now im finally back on my feet and heading towards, but since then so much life has happened and I have 2x as many burdens and responsibilities on my back just to carry out the same level of plans. So, do it young cause older you get the harder, in a very real way.
My family has been one of the richest and lost it 3 times over then made it again. The lesson no one can take away education, even my grandmother had a university degree 90 years ago. If you don’t want to lose all your money be careful of ongoing cost of things you buy and have a plan how you are going to pay for it.
So many good points, but phrased is such a demeaning and dismissive way. As a “rich” person I agree with your points. As a human being, I’d tell you to experience the world a LOT more. You sound like you’ve never even met a “poor” person. Your privilege is oozing all over. It’s gross!
Exactly! Poor people spend their money right away, because they have bills to pay and supplies to buy for their family. There’s no extra money left over. They’re probably in the negative.
And you also need money to make money. That’s why poor people focus on lowering expenses.
Perhaps they shouldn’t have used poor people as an example, but said something like the average earner instead. I’ve been homeless as a kid; we discussed money a lot.
Poor people more or less choose to be poor. I used to use those same excuses and that's all they are, excuses. Living paycheck to paycheck, payday loans every week, loans, credit cards, and even resorting to illegal things to put groceries on the table. Got tired of it, grew up, accepted responsibility and changed it, it's not complicated. I am married with three children and one income, my spouse has endless health problems, we have no family or friends to help but yet we did it. I just worked and worked and kept taking jobs with better pay. Took a few years but, now we have a house and a few cars. Also, I dropped out of highschool so I mean, I didn't have anything working for me and yet I did it. Unless you are completely paralyzed and brain dead, your own choices keep you poor and nothing else .
@@siig9905
You got a job instead of making your money work for you. You also bought a house and cars.
You succes story contradicts the advice given by this channnel.
@@bdnnijs192 Well duh l, as much as my kids may annoy me I can't let them sleep on the sidewalk 🤣 the advice on here makes for guidelines not the rulebook
In my family nobody teached me about financial management. All over the years i changed my mindset about money, and now in my 40s i took a different path. I'm more financial aware, having more money,my lifestyle improved!
My parents thought me values and being humble. My parents arent rich and they almost dont teach about the real world. Instead, life taught me. I became a self taught at everything. Well, thanks to the open source library (books) online that is existing right now. Everything is free(ONLINE) you just have to explore it.
5:55 I am one of poor people you are mentioning😔... I never had my parents😊 gave me money💰... #TDBank🌎💘💰
Starbucks costs way more than $5 now...
RISK. What my parents taught me is that life is hard and you have to become hard to see life easy again. Hard work is what I got from my parents. To get anything, you have to work hard for it don't blame, don't whine, understand that you, yourself need to make the change and no one else is going to help you.
They never told me when I was 7 - 18 that there were better ways to improve with the use of money.
My parents taught real estate.
P/L Statement
Balance sheet
Good v. Bad debt
Analyze properties for positive cash flow
Own and plant powerful leveraged income seeds with compound interest that grow and scale drastically thus creating ultimate time freedom
Dear there is a neutral account other than assets and liabilities
Please work on that ASAP. There is also a neutral account other than debits and credits.
Like there is protons neutrons and electrons in the universe
RISK....Do not get out of the house without money in your pocket
Everything was going good until it start talking about money is tool and important...it's blue pill video 😂😂😂lamao
Money is not just peice of paper...you confused with having satisfaction and power both are opposite yet yin Yang
16. Don’t always play by the rules, just don’t get caught.
Thanks for the clear and concise presentation of everything I’ve been gradually learning as a small business owner. SO much childhood advice was about the importance and value of being RISK-adverse. Thankfully I didn’t subscribe to that mindset. It’s been a roller coaster and I’m only just getting started, but it’s made life so interesting and engaging. I feel like I’m really participating in the world and making a contribution to humanity. It’s a lot of work but great way to live.
This is really helpful ❤❤
RISK. My mother taught me how to stay competitive and to never give up.
Things my Dad (now 88 years young) taught me: Not to buy a car with a bank loan (my husband and me have been buying secondhand cars for the past 25 years). Invest your money in real estate or a business. If you start a business, make sure you know everything about it by educating yourself and putting in the time it needs for the business to become successful. And, "Do not flaunt with your money, cause lots of people do not really appreciate you being wealthy!" 😁😁
Humility and respect is the first thing rich people teach their children? I don't think this channel knows enough wealthy parents. They're just like any other tax bracket. Some of them are absolute monsters (inflicting abuses that would have sent another tax bracket to prison) and some are genuinely kind albeit in a sort of obtuse way. Nothing special. Stop putting them on a pedestal. For reference, my parents were the former.
Employees: “I work hard everyday too but do not get rich! Life is Unfair…”
BRO. You work hard in REPEATED DAILY STUFF like commuting and DOING what your boss tells you to do, in a specific timeframe of 8 hours. Then you go home and play and eat chips and pizzas EVERYDAY TIL 65.
The difference of rich people or ASPIRING ones is that they DO NOT STOP learning; they prioritize health and there is no end point. Employees stop learning after college because they mastered what they want to do (what businesses need to hire them)
Then it comes down to satisfaction and comfort that makes us poor. Shifting this mindset is the most important thing, no matter your current situation.
My dad always said “Pay yourself first”!
The next video you make should be what kind of lessons to kids teach their parents 🤣
The only thing I've heard growing up was Money is Time and Time is Money. Only if that's the RISK someone is willing to take!
Teach your kids right they will most likely be right.
Of course you need to have been given that skills set before you enter society,,,I was raised with nuns so there....😊
RISK ❌️ Calculated RISK ✅️
While this video had many valid points. But some of them were the MOST IGNORANT CONSEPTS I HAVE EVER HEARD. “If u don’t make friends before 4, u won’t have friends!” Please
I was beat down by a tyrant type of dad . Always correcting and criticizing us (5) and nothing was EVER
“ good enough “ . I grew up with a low self esteem and also grew up pretty poor . He taught us to have a good work ethic and to work hard at our jobs and we will be rewarded
“ someday “ . His intentions were good but didn’t do ANY of us any good as far as having confidence leaving the house at 18 . I’m 64 and just NOW gaining self respect after getting wiped out in a divorce rape 13 years ago . These things here were awesome to hear …
They thought me kindness. When i was a little child many times stray animals came to our home and some was sick and had worms on them. We used to eat 1 meal a day sometimes none but my mom would take her little cash and buy food and medicine for the sick animals. I grew up the same way. Now I help all animals I can with little of what I have.
Risk. My parents did not teach me anything about money. I observed how they managed money. We lived in West Africa and my parents lived apart (but married) in different states due to work demands. I lived mostly with my father who worked for an oil company. I went from eating three meals a day and enjoying the good life as a kid to struggling to eat one meal day (yea, my father was fired from his job); my father struggled to feed us and that impacted me; I became stingy with money when i finally had a little success in life because i was afraid to spend money on any thing ( i did not want to let go and thought i was wasting it if i spend it). Now, I spent a lot of my money on acquiring assets and investing in experiences (i.e. travel).
4:22 I can’t find data that show this. I only can find data that show the contrary. Can you share your sources?
Sadly I've learnt more from Alux than from my parents and school combined.
While I’m a self made millionaire, I do wish I was more aggressive with my investments when I was younger.
This list is not great, many of these principles are things I strongly disagree with
Do you think something like Vanguard is a good place to start?
@@amandagallacher8173 If I could do it all over again, I would have paid off my debts. Then I would have built a 6 month emergency fund. I would then fund 15% of my income into retirement accounts (maybe half pre-tax half post tax) all in low fee index funds.
Then I would have invested every dollar extra beyond retirement and emergency funds in a low fee index funds.
If I wanted to make different big non stock market investments (say rental property) I would have paid at least 50% down and pulled those from my non retirement index funds.
This is the quickest path without taking on too much risk based on my experience
@@amandagallacher8173 It seems my last post was deleted.
If I could do it again I would first get and stay out of debt outside of my home and major investments.
After paying off my debt I would immediately work to get a 6 month emergency fund.
I would begin investing 15% of my income into retirement split 50/50 in pre and post tax into low fee index funds.
I would invest every dollar above my emergency fund into low free index funds.
I would pull from my non retirement index funds for major purchases (cars, real estate, etc)
Pretty basic things, what I did wrong was hoarding 15-25% of my net worth in savings accounts and CD’s. I was afraid my investments would go down in value before I needed them and thought I could time the market.
Probably cost me $500-$700k in additional wealth I could have today.
As you hit 40, I do think it’s good to ensure you are diversified. Maybe 30-50% in real estate (home, etc), 30-60% in stock market. Any additional in alternative assets preferably that generate income.
@@amandagallacher8173
If I could do it again I would first get and stay out of debt outside of my home and major investments.
After paying off my debt I would immediately work to get a 6 month emergency fund.
I would begin investing 15% of my income into retirement split 50/50 in pre and post tax into low fee index funds.
I would invest every dollar above my emergency fund into low free index funds.
I would pull from my non retirement index funds for major purchases (cars, real estate, etc)
Pretty basic things, what I did wrong was hoarding 15-25% of my net worth in savings accounts and CD’s. I was afraid my investments would go down in value before I needed them and thought I could time the market.
Probably cost me $500-$700k in additional wealth I could have today.
As you hit 40, I do think it’s good to ensure you are diversified. Maybe 30-50% in real estate (home, etc), 30-60% in stock market. Any additional in alternative assets preferably that generate income.
This was actually some good information 👌🏽 Money helps with things for the body. Not with things for your mind and soul. DROP THE MIC 🎤
One thing I learned early was that health comes first. I have not had a time longer than 3 months in the last 25 years since HS without health insurance. As a T1 diabetic, having healthcare is vital, and without it, I would not be healthy enough to work.
Also, set goals, and keep working toward them. Just because things are hard does not mean you should stop.
"5. Increasing income instead of lowering expenses"
This is directly contradictory to how profitable businesses function. They don't waste. Every expense serves a purpose and efficiency is constantly reviewed, so it is both, not one or the other. Increasing income increases risk so more often then not, on a personal level, it is simply better to lower expenses.
"9. Don't work for money have money work for you"
This is a cutthroat mindset that impoverishes others. There is more to life than being a millionaire just ask any nation that went through hyper inflation, the problem is resource procurement, and that only happens with good old fashion hard work, engineering, and ingenuity.
Gotta appreciate how 4RA handles recalculations, always fair and quick
Starting to sound repetitive Alux.
number 5 doesn't really ring true imo, yeah increasing income is important but the problem, especially these days, is lifestyle creep where people make more and more money but then increase their expenses to match. From everything I've heard from millionaires and billionaires it's cutting back on the unnecessary expenses such as Starbucks and going out to eat. If you are living paycheck to paycheck but going to Starbucks every day and eating out every day or every other day then you should cut back on that, make coffee at home and meal plan. That 5$ coffee a day or often times multiple times a day is basically throwing away $1500 a year. you'd save another 5-10 dollars per meal if you meal prep, and that's assuming you aren't stupid enough to be doordashing your food, if you're doordashing food you'd probably be saving 20-25 dollars per meal by meal prepping.
Also. Habit of taking action and not over thinking. Ability to ask good questions and learn from wise people. Understanding the time value of money. Attention to detail with contracts. Long term thinking. Ability to negotiate and willingness to let both parties get a good deal. Courage and perseverance. Staying away from the news and pervasive negative mindset in pop culture. Attitude of making things happen. Setting goals and have the self discipline to execute.
Love how 4ra keeps adding new features, always something exciting to check out.
Gratitude ALUX.
RISK: Not so much exclusive to money, but the advice I got was to always give myself more options instead of less by the decisions I make. I apply this to my finances to grow the pot with the long term in mind.
My father taught me to watch the rich!
Risk: My grandfather told me as a 12 year old child, be proud of who and what you are and don't let anyone tell you different. To this day I still think about that and it motivates me
Risk
I think a better way of addressing increasing income versus lowering expenses is to emphasize increasing passive income while lowering personal expenses. For example, if someone has 2.5 times their personal expenses in passive income, and the individual only uses half of the passive income to always pay 1 period ahead, that individual will always be able to cover those necessities while the ratio increases periodically. Of course, this is for people starting out. Once the necessities are covered, then the aspirations can be pursued without concern. I’m aware that some may feel this will create complacency and a lax attitude, but that is only true for those who are not ambitious already.
I’m first here👌
Work hard, but smart!!! Opposite of this in some ways.
Dad did construction... and so did I as a summer job from middle school on. His goal was to teach me to work hard, do quality work... but NOT follow his footsteps. Get an education and work smarter.
Had a long road in steps from food stamps and government housing to EMT, firefighter, paramedic, RN, then eventually BSN. Averaged about 50-60 hours a week most of my life. Always wanted a doctorate but after 4 years of IVF had my daughter at 48 yo and choose time with her as she grows up over that life goal.
HOWEVER, sadly a less than a year after he died, I became the first millionaire in my family line. So I'm here learning how to help my daughter continue that path. ❤
Use your SUBCONSCIOUS mind u will be on top of your dreams lets connect for bussines I have Passionfruits and Ginger on my farm in plenty any one for market
Risk. My parents didn’t teach me anything about money. My dad told me at 15 that if I wanted to go to college, that I had to start working (in 2008). It is videos like this and lots of struggles over the years that taught me about money, integrity and wisdom. In 2023, I sold my 10% ownership of a small business to start my 3rd business since 2018 in which I now am majority owner (75%). It’s the grace of God that helped me get this far and the generosity of those who walked before me.
Great video, but that background music is soooo annoying 😥
Hey Alux, your giving a vage advises, can you give it pin point ( about money : what to learn, what makes difference)
Sir you missed number 8, 😊 but we all make mistakes
Do you guys have books of the same, that one can read on the same? At times it might be tedious to keep on glaring at my screen, since this is where I spend much of my time as I do other stuffs? It would be of great help and benefit to persons like me.
Ich bin der Anton aus Tirol😂😂
Gotta love how 4ra manages to keep every bet feeling fresh and fair, they know how to run a game.
Gotta appreciate how 4ra keeps everything transparent, betting feels safe and fair.
Great! Thank you so much!
My mother never taught me a lot about money but she taught me not to steal.
Risk.
Is buying Gold Coins a Liability?
You said something like: "Education System is a Bad Thing!" Would You go to someone who isn't a Doctor when You have Health Problems? My Dream in Life is to be a Doctor and Rich! Is that a wrong Thing?
Luckily, most rich people will say that education is one of the best investments that you can make. It opens more doors at the end of the day.
11:34 Bill Gates saying
The background dudeldu is so annoying...
Get the forbidden book Whispers of Manifestation on Borlest, and uncover the secrets they've been hiding.
RISK Note, when starting out from being poor, $5 coffee IS a liability.
1. Teachers do not treat you're better
2. Employers don't care about you kniw matter HOW NICE YOU ARE.
3. I went down That road as a teenager. All it got me was DEAD END JOBS.
4. HE WHO MAKES THIS CHANNEL IS PROBABLY AS POOR AS ME.
This channel consistently mixes up depreciating assets with liabilities. They aren't one and the same, and accurate definitions are important if the aim is having financial literacy and educating the viewer...
A car is a depreciating asset that comes with inherent expenses.
A loan is a liability.
A house owned in a good area is an appreciating asset with inherent expenses.
The loan on that house would be the liability.
Get them right
Good Morning,
Why is it so difficult for a startup with you. You know I need it.
Just remember, when you invest your money in real estate, shares, dividends, etc. You'll start to get some reasonable profits after multiple decades, usually 20-30 years. So do not expect when you start investing to become rich in the next few years as it doesn't work that way. Investing your own money is a very long process, so be patient as most of the advice channels on youtube will never tell you about. Also, in 2024-2025, everyone expecting a massive financial credit crunch due to the nato-nazi-ukraine war against RF. So, be aware and ready for it.
Lots of the tips are really great. I would even add that one needs to assess these tips in light of one's own situation. One thing I keep hearing though totally doesn't make sense for me, i.e. don't waste time on education or no one cares about your degree. That is contrasted with improving your skills etc. These are contrasts. Your degree can get you incredibly far in terms of success and money. Some degrees don't give you a lot, but degrees that actually teach you essential skills are quintessential, like medicine, law, engineering and similar. In Sweden, where I live, lawyers like I earn extreme amounts of money, and if we invest our money wisely, our Fortune will grow very fast. Also, some degrees are essential if you want to get specialised knowledge which you can then improve with time and experience
My favorite parents are rich and they never taught us any of this. We had the best educations. Some even overseas. It is our responsibility to make a life and get education we seek as adults ourselves. An education also always leaves u a way to make money for your choice of lifestyle. My dad was a doctor and a corporate patent attorney. While I’ll inherent all his property and money it’s upto me to figure it out. The only thing in this video that I could relate to is…. My parents never talked about money. It wasn’t my business. I knew we had money from the lifestyle we lived. It wasn’t til I was an adult that I realized my friends lived in apartments and
their parents didn’t make what my father made.
No I won’t let my son spend it all. However, I literally had to teach myself how to do this. Teachers don’t discriminate based on family income. Stop 🤥 it Pinocchio
Become a politician and don’t get caught stealing it from the taxpayers
Now I understand what my grandpa wanted me to be. 😉
Risk ,Honestly I feel your parents teaching u valuable things is super important and has sum to do with u growing up fast my brothers mindset is super diff from mines and I try to teach them in life but in my life I wish I was taught things I didn’t know and learn all on my own
STOP with the Kiyosaki BS telling people that an asset is only something that makes you money. I get the concept you're trying to explain, but you guys need to find your own terms to describe it and stop confusing people by trying to hijack basic principles.
asset - property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.
Not just “risk” but the optimal RISK/REWARD ratio! Thanks for the video... I love the way you did your marketing in the middle of this video instead of at the beginning or the end.
Laziness, some people hate rich people because they are jealous but too lazy to do anything themselves and feel they are entitled to the benefits of someone else’s hard work that took time to achieve. Reminds me of kids who kick sandcastles over at the beach it’s easier to do that than build your own.
A common trait in younger people who think all the rich should be taxed more because younger people are not old enough to have worked a lot and saved.
A house may not be an asset, I don’t know for sure. But calling it as a liability is a bit of a stretch. In great countries like the Netherlands (AAA rated by S&P) the house rent is higher than mortgage monthly payments. One gets mortgage of 100% and few years earlier people used to get even 110% mortgages to cover agent fees, registration fees, etc. So one has to live in the house paying same amount of money for rent or mortgage (because house owners don’t fix houses or pay municipal taxes out of their pocket. They pass those costs to renters. After all, if there is no profit involved then no company like BlackRock will rent their houses but sell them off)
Risk :D New to this channel, saw first video yesterday, this one today. Surprisingly honest and truthful. Will keep watching and thank you for your production.
4ra keeps proving they are the best in online betting, good odds and always fair.
💫
Love it
Risk… Willing to risk it all to WIN!
❤😊 thanks Alux!
How money Brain Work silent MOST Working money Gold Diamond 💎😊
RISK… making a finance vid and not having it overrun with bots. Very smart move that was
The message makes sense but the tone of the narration is one of disfunction and elitism
Risk…my parents definitely taught me money was the root of all evil. Thankfully I didn’t listen to them and I’m teaching my children the ALUX way. When you know better you do better.
About the worst advice anyone can give. "The LOVE of money is the root of all evil" Money is a powerful tool like a car. You can abuse it or use it for your benefit.
Rich people teach their kids how to get their money's worth. If they are over paying for something... they dont just teach their kids the value of money but the value of everything. This also teaches them to be fair in paying for something.
Risk. I did teach my son most of these lessons. Then he, when he was 18-19yr old, taught me about outsourcingb mundane everyday household jobs and use that time saved to develop myself😂