“How do you get rich? You get rich by working together” now that’s a great quote and tells a story about individualism and how it’s made us forget the strength of community like a form of depoliticisation.
@@rossdavison6526 it absolutely is, this came from “Lord” Ashcroft paying people to dig as much dirt on Rayner as they could and this was the best they could come up with, technicalities that you or I would do our best to avoid paying tax on if we technically could because that is the only opportunity most people have to make that sort of money their entire lives and it gives them a level of financial security they could never dream of. But Lord Ashcroft makes himself a dual British-Belize national to avoid paying over £100,000,000 in tax and gets to take the moral high ground because what he did is legal. And becomes a Lord by giving huge donations to a political party, pays people to write unofficial biographies on his political enemies that the Conservative client press ran by other none doms with similar tax histories promote relentlessly. The game isn’t just rigged, it’s rigged to levels of absurdity that are difficult to comprehend.
@@rossdavison6526 it absolutely is, the story came from research Lord Ashcroft paid for, a man who made himself a dual national to avoid over a 100 million in tax. The game isn’t just rigged it’s rigged to levels of absurdity difficult to comprehend.
I love the honest answer to the "How can I get rich" question. Most other people would be pushing a book or a training course. you're a breath of fresh air.
Felix Dennis did the book. He’s dead now. It was an interesting read. But ask yourself, “What is rich?” That’s the question you really need to think about. Lesson 1:- Money doesn’t make you happy (well, it does for about the first year apparently). That old adage “The best things in life are free” is very true. Go and take another look at Maslow’s hierarchy of needs.
Not sure I agree with everything but What a breath of fresh air in this self promoting, tik tok/instagram obsessed time we live in. A lot of people are pretending to be rich nowadays also.
Yes, those things are things people will say we’re lucky to have. Wouldn’t be able to do it without money, and prices are going up because of the rich. This kind of emotional wealth you have is now much more difficult to get together
“Live your life abundantly”, as the saying goes. “Think abundantly and you will have abundance”. So, whether that’s true or not is academic. But what I find interesting is that most of those who have made a lot of money are no happier than those of us without.
Your honesty in this video is literally moving. I hate that I just found your channel today and not sooner. I wish more TH-camrs were as honest as you. My goal is to watch all of your videos.
My favourite advice story is this: I was trading, and making a bit of money doing it around the GFC. There was lots of stock available, and discounted share sales etc. A friend asked me for advice. I was hesitant, but I said "here's a mining services stock. It's a shitty company and 50/50 chance of going bankrupt, so do the smallest bet possible and assume the money is already gone, but it could go up a lot." Well the friend bought in. Then the price went up 20X. A few years later the friend said "I've got a bone to pick with you, the stock you recommended went bankrupt!" I replied with "so you didn't sell in the several years that it was 20X?" Even when you give Nostradamus-level advice, you are on the hook for the bad and never the good. Don't give advice unless it's "Don't trade. If you are asking for advice, you are going to fuck it up."
Cash in as it goes up , start with taking your original capital to take out and then set levels to diversify into other areas if you don’t need the cash . You have to have the mindset as it’s all just paper profit in meantime …
same thing happened with my brother. He lost 60K in bitcoin in the last few years and when I asked him why didn't he sell when it was very high, he told me "I'm in it until the end". I still to this day don't comprehend his mentality or what he meant. I think and I could be dead wrong here, they don't care about a 10X profit which my brother was at, or a 20X or a 30X. They're in it until they're rich rich.. They don't view it as an investment, they view it as a lottery type of thing.
we have lost so many smart people to the finance sector, gambling on made up stock prices. Imagine if all the maths whizz's like yourself had entered into the tech and engineering sectors. I reckon we as a country would be much better off now. Love your channel, I have learnt so much. Thank you
This is why we haven't really progressed since the 60s. We had the illusion of progress driven by the rapid incremental improvements in IT, however that's now very much in a stage of diminished returns for most peoples needs/uses. The trajectory of IT was set on its way long before and the silicone chip, the LED and a whole bunch of now ubiquitous composite materials were all arrived at in the 50/60s. We taxed excess wealth properly after ww2 of course.
Yeah, I'm an engineer. I know if I had wanted to make a lot of money I'd have done so much better switching into the finance sector, but I love engineering. But with the youngsters coming up it's even more the case, and we're losing even those who love engineering. The difference in income is just insane.
@@ericritchie6783so many people in the world right now, esp. even in the tech sector, think the opposite of this, it's scary. being ignorant of history does a number to your perception of reality.
So glad that you ended with the message about working together to change the system. I’ll happily be part of the ongoing collective action. Really feeling the power of The Woolly Hat of Wisdom today 😁
I’d be retiring or working less in 5 years, and curious to know how best people split their pay, how much of it goes into savings, spendings or investments, I earn around $190k per year but nothing to show for it yet. Wondering if they're any short term opportunities I can invest in.
target date funds made me a multimillionaire but i also watched them drop 40% in a very short time and take a long time to recover. my best suggestion is that you seek the guidance of a fiduciary to avoid mistakes
Great! mind if I look up your advisor please? only invest in my 401k through my employer as of now, but enthused about investing for my eventual retirement.
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, "Teresa L Athas" turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
Thanks for sharing. i searched her full name and found her web instantly. After reviewing her credentials and conducting due diligence, i reached out to her.
I came to this video after our first home purchase fell through due to the seller backing out to rent the property instead. After searching for a year and a half I’ve realised there is nothing out there that I can afford and my financial state and career has left me in despair. This video made me feel more depressed but it was the slap in the face with reality that I needed. By you saying that my lack of success is not a measure of my intelligence or my work ethic did Improve my self esteem for which I am thankful for. Keep doing what you are doing man, you are a shining beacon in the dark sea of bullshit, and it’s about time we had someone who can give us guidance like you have.
my advice would be to not focus on a game you can't win. you can still be happy and rich in terms of life. being born in the west, we are soooo lucky. focus on the good. im not saying stop being an activist, but don't let it destroy you. imagine being in born in a poor country where even if you are smart, you can only earn 10 dollars a day or less. this is life for a lot of people in asia, africa and latam. i know it's a weird perspective, but appreciate what you have - however little.
The same happened to us and we stuck our house money in a variety of indices, mostly S&P500 and Tech Funds via Plum. The A.i. boom has seen our deposit grow 20%+ in less than a year. Another way to think about this problem, is to start learning the rules of the current game and start playing them at their own game, until you have power and influence to change it. Also upskilling and making yourself super valuable and reinvesting in yourself and more into "safer" funds on dollar cost averaging strategy.
The hardships we had to face because we lost out during the crash and then the fall of the pound during the years Gary was getting rich were probably as transformative to me as the money was to Gary. So we built back by appreciation of where we were and who we were with and step by step reclaimed the right to get off and stay off the financial treadmill. When you have very little and you make it all count towards freedom. You become freer.
You nailed it with the comment around ‘it’s not living in relative ‘poverty’ it’s the judgement that’s the problem’. Spot on. The internet has told everyone they should be living in big houses and driving flash cars otherwise you’re a failure. We can no longer be happy working in the ‘factory’ because we should all be millionaire TH-camrs or bankers. It needs to stop. Another example of social media killing society
Yes and no. Economic realities don't lie. If wages had kept up with inflation over the last few decades, nobody would be complaining. But they haven't have they? And the rules of the game are rigged very much against those without wealth. So, this ennui and alienation is nothing new, and social media is just another medium for selling the lies. Used to be the TV, the newspapers, and novels. We've just been through the biggest wealth transfer in history, and poverty is increasing up the wage distribution from the bottom up. And AI is being setup to cull the white collar jobs we were told to aspire to. And that's the reality. Time to see clearly, and drop the delusions.
I like that you admited that TRADING is GAMBLING... I salute you sir ! EDIT: Since some folks doesnt agree with me, I need to mention something... TRADING is GAMBLING for us (the small fishes in the pond)... For the big sharks it is not... They always win!
You can be in the market, beat 90% of all investors over the long haul, and do barely any work. Just pour all your money into a low fee index fund (VGIX500) with an employer match retirement fund in the US, and if you really really believe in a business because you know that business through your personal purchases, use a small amount of that money to gamble on those stocks. It's not GREAT, but it's better than leaving your money in low interest stuff like your bank account, CDs, or money markets.
I like the part where he gives his friends good advice, they ignore it and lose money, and the takeaway is we all need to work together. Why don’t you give them your money, then?
Gary, you are 100% correct, but people forget the most single important thing in life is your health.....l am double your age, lost a brother through ill health in his late 20's....no amount of bank balance would change that fact. We currently live in a wealthy village in Surrey, but we are in a very small house. My wife used to say to me how come this person or that person have big houses or expensive cars... l said most of them have had a massive leg up financially in life, either help with there business or house.... & the majority of the time this is the case. Unfortunately nowadays the youth want quick wealth & that very rarely happens👍❤.
Greetings from Germany.Yes very much agree, never compare yourself to anyone else . Only compare yourself to the person you were yesterday. The trouble with comparing yourself to other is that you simply don't know what those other people go through to sustain that lifestyle.
In USA, there's a thing called "hood rich". Basically, it's all outward wealth. Most probably it's due to extended credit. They don't own their home, their cars, or their clothes. All credit. Their net worth is poor and not visible until it's too late.
I’d like to add: Ignore the culture wars, if you’re angry at immigrants, woke and trans people, you’re fighting the wrong battle - it’s ALWAYS been a class war
That’s is the societal divide explained in the most understandable coherent way I’ve ever heard. If WE as working people don’t change the political system then nothing will ever change. It hasn’t for centuries or even for ever. Find the information, inform anyone and everyone you can, then hold the politicians and the super rich accountable.
If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional like I did. If you get the facts about saving and investing and follow through with an intelligent plan, you should be able to gain financial security over the years and enjoy the benefits of managing your money.
In fact, I had no prior experience or understanding when I began investing in 2020, but by the end of 2023, I had made a profit of almost $850k. All I had been doing was going by what my financial advisor had told me. This demonstrates that all you truly need is a professional to assist you; you don't even need to be a great investor or put in a lot of work.
Finding financial advisors like *Izella Annette Anderson* who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.
Absolutely right, the game is fixed. True social mobility is (by and large) a fallacy. My daughter spends almost 70% to 75% of her income on basics, room in a shared house, groceries and travel to work (NHS). Without free accomodation (i.e. live at home) she will forever live in a room in a shared house and having a family is a distant dream. So, go Gary. We need your channel and your focus. Thank you!
@@lukemclellan2141 yes, since the key latch kids. The problems we have today all lead back to the boomers and how they treated their children... and ironically boomers are now the ones with all the wealth today.
@@lukemclellan2141what do you mean? A long time ago I spoke to work colleagues who are in their late 50s and they all bought their first flat or home in their early 20s which was in the late 1980s. Interest rates were high like 8% to 14% but it was all affordable. Also they had an average salary in administration at the time.
@@lukemclellan2141 yeah, but in a time where we basically have such an abundance of material and technological and energy going on (think being able to build a replica of Paris 1-1 and leaving it empty for reasons) - there is no reason to accept the past way of life (being a technologically blessed serf for your richer betters) as the way it should be.
We are not rich but compared to most people in the country you might say we were. We do have sufficient money to be able to help three kids buy a house so we are very grateful for that. I do know how fortunate we, and they, are and that it is a horrendous life that must people live.
"What should I do to get rich?" ... discover what your strengths and natural gifts are, and then exploit those. "Will I make money trading FX" ... No. I said that to somebody very recently. The caveat is that it may be one of your natural gifts, but that is unlikely. Gary, I like your blunt and straight-forward approach. Thanks
Agree professional traders have terminals delivering real time feeds and data and they have learned to put all that real time info into good decisions.Trying to replicate that at home is difficult without having been a professional trader. We need better open source information platforms
So true. Many people feeling like they are failures without knowing their friends have bought houses with parental help. Doesn't even touch on the fact that 96% (?) of us are disadvantaged educationally. The other few percent enjoy private schooling. Then we compete for good jobs. So much for our wonderful meritocratic democracy!
I'm the first to say what I inherited.. Honesty is always best policy Others want people to think they want it. Even worse is when they think they aren't it or were entitled to it
Gary, may I say that your straightforwardness is a shining light, a sharp contrast to the hundreds of 'advice-givers' on youtube and elsewhere. We have been inundated with videos about 'how to make your first million' and advice about putting away thirty quid each month, 'and in a while [a few thousand years by my count] you'll be swimming in it'. And they are unavoidable, I try to avoid such videos, but I hear about them a lot, because people, friends, students, everyone is so anxious to escape... You're the only one who essentially substantiated my usual answer when I get asked 'the question'. (May answer being: there are three ways to get rich: be born to it, marry it, or steal it.')
Gary is a millionaire trader telling you that you have no way to build wealth unless you are already wealthy. He is talking rubbish. I did it by investing in training to get into a career that paid well, invested in index tracker funds as suggested by Warren Buffet. It was not get rich quick but I had no help from parents. Rich people also pass know how to offsprings, not just money. There is no shame in being poor if you are not from money. But poor people often stay poor for good reasons. Getting a good job and investing well is a heck of a lot easier than changing the entire political system which Gary advocates.
Just invest in a low cost index tracker fund and you probably will beat Gary over a ten year period. Most (90-95%) trader types do not better the market and charge a fortune for achieving nothing. This was the advice Warren Buffet, gave years ago and he has been proved right.
@@duxnihilo He thinks he is a top 5% trader beating the market. Well that's what he thinks; they all do. Trader = gambler with a system. Gary is a pied piper. I would not follow him. Do not believe him that you cannot make wealth for yourself via career and investment.
I immediately remembered an advertisement I saw for a trading app where rather than making trades yourself you can pick another user of the app who believe to be a successful trader and the app will follow their trades. On the surface seems good but it will always lag their trades so you’re likely always going to buy for a little more than they paid and sell for a little less. Not good if they are trading volume for marginal gains.
Gary, I super respect you saying this: "you can't teach trading, 20 years experience, etc" it would be super easy for you to sell courses and have a massive TH-cam channel pushing / selling the HYPE "get Rich quick train". Keep the great channel going
Gary I just wanted to say that you are giving me some hope for this country.... I realised for myself a long time ago that this country keeps getting poorer, every single year. I've been saying this to my parents and they are kind of dismissive with me. It's the reason I've never been interested in politics. Because I realised myself that you can vote labour or conservative and it doesn't matter... The result is that the country is going to continue getting poorer. My vote is meaningless. I am powerless. I have felt this way for most of my adult life. But the way you talk about wealth inequality, it gives me some understanding of why it is happening, it makes so much logical sense to me and look I'm a web developer, I don't know anything about this stuff... but you explain it so well and the way you talk about this actually gives me hope for the first time ever that maybe if enough people support this message there can be positive change. Please keep this up, it's so important and thankyou for this.
The way you paint a picture is just perfect. Direct but loaded with info. This is where I come to learn the real message! You can see things from both sides of the spectrum which gives you a perfect ability to say how it is. You don't hide your luck, but you capitalized on it. Continue to create and thrive! Respect!
The one question I've always wanted to ask Gary is all the people you work with in your book are male . Could you have achieved the same if you had been female?
Be born rich. Extract more value from numerous people than you give them. Influence rules and laws to retain and pass on your wealth. Rinse and repeat.
@@chidiebeleokekenwa1686 it’s true, this is what the very wealth do, they twist the laws so a corporate raider on 100 mill a year pays less tax than his cleaning lady, that’s a big problem
@@chidiebeleokekenwa1686 necro but OP and 1st reply made no value statements. Looks to me like an answer to the question implicitly posed by the video's title -- an answer which is also 100% in-line with what Gary said in this video and would likely tell you again today. Unless you think their thinking is "sad" because you have another idea about how wealth is acquired and reproduced. Then I'd say you are probably just wrongheaded about how most of the capitalist world works. Absent an alternative answer from you to the question "How does one get rich?" I actually have no idea exactly what you mean or think. Genuinely commenting here, not trolling -- was curious if you had an alternative analysis and answer re: "becoming rich" or if this was all just a communication failure on ya'lls part (or mine).
Love this message Gary. I don’t want to get rich. ‘Rich’ is a relative term. I just want security for me into my old age and to try to help my adult child to get the money to buy a house. Security. That’s my idea of rich.
After so much struggles I now own a new house and my family is happy once again everything is finally falling into place! and I pray that anyone who is reading this will be successful in his or her life!!!…..
Trading without professional guide...Huh I laugh you, because vou will remain where vou are or even make huge losses that will stop you from trading, this has been one of the biggest problem to new traders
This is a great message, part 2 of the wealth inequality discussion. Not only do we have to demand that our politicians take action NOW, to reverse wealth inequality, but as Gary says, we have to push back and ignore the online boasting of having wads of cash and flash cars. If we all work together, we can all share in the benefit. If we work individually, the more likely we won't change the system and will become poorer ✊
@@Humanity101-zp4sq I do - and don't understand why you should think I wouldn't 🤦♂ -, but that rarely solves problems such as this. With our system not fit for purpose, the only "sensible" vote in my constituency is for Labour. However, I emailed my Labour PPC re wealth inequality, and she flat out said they don't believe taxing the rich is the answer 🤷♂ So, while we have to get the Tories out, we collectively also have to work hard to get Gary's message to sink in and stick.
Any discussion around politics and you've already lost. We cant all be rich. Policiticians are simple there to ensure we're distracted while the status quo is maintained and the rich stay rich
DIGNITY!!! Yes, you've nailed it! Not related to income, or even achievements, absolutely! So wonderful to hear this truth spoken to the masses! The intrinsic dignity of the human person transcends all material variables. If only we could always remember this! The question: "How can I get rich?" Is really a person asking "How can I be happy?" They just don't realise it! Gary, one word comes to mind whenever I listen to you ..."Humility!" I believe it's the highest of human virtues, whether King or beggar, it also transends! I would say it's the ability to see the truth of who you are and where you are in life and to accept it with simple gratitude! You have this Gary, it's an amazing gift to those you encounter. I pray you never lose it! Thank you.
My husband, an engineer is good at maths. He went on lots of trading courses, spent a lot of money. Some offered support afterwards supposedly offering tips. The only people who really made money were those running courses, he made bits here and there, but no real money. It’s a tough field and they are not kidding when they say you can lose everything , I think it is really posh betting.
Yes and no. People make money from betting, but Derivatives makes Sports betting look like a mugs game. And most of the finance world is reliant on Derivatives for hedging. Yet the Ancient Greeks invented the same financial betting. It's the little people who aren't taught about the realities of wealth, and they suffer it's its lack the most.
It has nothing to do with academic level mathematics, you need fundamental understanding of the macro factors on the markets, the simple thing to do is buy an index fund and be a little more adventurous in the bull market. People who don't at least understand the market cycles of buy low in bear market, and sell high in a bull market shouldn't gamble with their money.
We need to challenge a system which makes us and our children poor. We need public investment in education, and a change in what is taught, NHS, housing, proper levels of pay, social mobility. An end to private education. An end to paying for university courses.
People like to think the people trading and affecting the prices know what they’re on about but just look at what happened with Pokémon go, where nintendos share price rocketed for a day or so, until the morons realised Pokémon go wasn’t developed by Nintendo but niantic, DOH! It isn’t based on reality, it’s based on speculation and perceptions
100% agree with every word. The best financial motivation video in you tube,no bs,no sugar coating,simply the blunt truth about the rotten system of capitalism.If we want a brighter future Unite the people,working and middle class
I'm nearly 50. Of all the people I went to University and studied with, the ones who are 'proper rich' now come from 'proper rich' backgrounds. They arrived and left uni already rich. The ones who I would call 'rich' (definitely well off, but not aristo or anything, upper middle shall we say) inherited or got their first property bought and paid for them by bank of mum and dad. This is without exception. The ones who are 'comfortable', have worked hard and met partners who also work hard at their jobs (dual income necessary, even when having a family). I went to a top class Uni (not boasting, just giving you context). Gary is spot on and honest here. One more thing I would add - and I share this as a feminist but we're all into honesty here right? It's not just having a rich Dad that I see gives people the wealth they then have later in life: a lot of women 'marry' into wealth before they have a family. (I've had that option several times - didn't take it - no regrets, even though I still struggle to buy a house in London and could easily have opted for the 'marry into money' option ;)).
Very similar story from me. Two notable exceptions: one bloke who married in to a wealthy family; and those that are doing the best are those that didn’t go to uni but got on very specific technical skills training back in the day: YTS. Apprenticeships would be the modern equivalent. There’s no way I’d do a degree now unless my employer paid me to. Unfortunately university is a mugs game now, given the fees, proliferation of degrees and disinterest of education institutions unless you’re an overseas student.
@@mickeysmouse4800 The University thing.. such a different ball game now. Agree with you about having a trade specific skill - that is evergreen and always in demand - and if you can couple that with 'good clients' skills you can do very well. An ex boyfriend, who got a first from Cambridge University, not from money background, tried the management consultancy thing - the Cambridge first helped of course. But he hated it. At my suggestion, he set up a DIY business instead and put his last salary bonus into buying a BTL in Surrey. Fast forward 15 years, he owns three properties, has moved to Chamonix because he loves boarding, and is constantly inundated with work requests.
@@mickeysmouse4800 You are absolutely right about the value of having strong technical skills. I would say if you have that or develop and focus on skills that there is a demand for, AND couple that with strong customer engagement skills (be that in person or general communication), you can do well financially, regardless of a degree or your family background. Anecdote: an ex boyfriend, who is not from money, got a first from Cambridge and went into management consulting. Hated it. On my suggestion, he left and set up a DIY business. Started small, developed into bigger projects. 15 years' on, he owns three properties and has just jumped Blighty to live in Chamonix so he can go boarding every day. Obviously there's more to it than that, including making sacrifices on the way to building the life you want, but you get the drift.
Yup. I also went to one of “those” universities, and i’d have sworn to my last breath at that time that there was no difference between me and my privately educated peers. That my results were as good as theirs and my life chances were the same. Well, i had no clue. I’ve done okay, mainly because i bought property the first second i could and kept doing so. But they are just in a different league now - and that’s before the colossal inheritances which are just starting to come trickling in!
The Nazi party only had to convince 10% of the people that they should go to war..the rest followed.The moral of the story is education critical thinking and a genuine love for our fellow man.Kindness is a currency that is becoming a rare comodity and its far more precious than diamonds.Great channel.
You are so dumb to use the national socialist German workers party as an example in this conversation. They made everybody rich and didn't give all the money to private bankers and instead it went to the people. We lost that war. The people who won have done this to us not Hitler
@@aluisious not interested mate I’m poor. Who gives a shit. Nobody remembers that lad that burned himself nobody even remembers his name without the power of Google. That world is one putrid bag of shat and nobody cares.
I started out life in Hampstead. Parents were not rich but my school was filled with kids whos parents were. It took me many years to figure out why many of the kids in my class who were as thick as p*gs s***t were well off whilst i was struggling with shift work. I had the best scores in school, tested as having an IQ of 140, but i never received any meaningful support or information from school. I eventually realised that i lived in a game of 'family wealth' not a game that supported talent, but a game that exploits talent for the benefit of rich families.
Gary, having read your book and watched your channel for a while now I feel compelled to comment. No one has managed to demonstrate quite so accurately and succinctly as you do the situation of millions (billions even) of people around the world. You are a credit - pardon the irony - to the nation. We should be demanding the redistribution of wealth through a farer taxation system as you advocate much more loudly than we are. It's also very comforting to hear these words when you're slogging through life, trying to feed a family, doing your best to appreciate that there are ways to define your self worth other than monetary. Thank you so much and keep fighting the good fight.
It's true but not exactly helpful! My parents were poor but I managed to become financially independent by the time I retired at 56. Invest in index trackers and BTL properties is my advise. See my comment higher up for more info.
you can be rich in many ways such as having a lots of friends, your health, peace of mind, hobbies, being grateful and being happy with what you have. that is how is judge being rich and wealthy. thanks for the work you are doing Gary.
What I realised during my life is that most of the people don't understand that being reach dosen't mean to have loads of money, but to be healthy, have a family, trusted people around you, being able to travel, hobby, leave in a country free of violence, hate and war... I don't have TV since 2006, I don't do social media... Maybe this is why being rich means something different to me.
Brilliant Gary, assessing wealth by how much money you have is a mugs game. As you say we can compete against them, they have wrapped up. Real richness comes with happiness and whilst money gives you options,it cannot buy happiness. Reframe what you have around and appreciate value. You may not have it tomorrow.
Congratulations Gary on the huge growth of your channel and the book. Personally the focus of society is wrong, rich is not wealth, be rich spiritually and emotionally and you will have peace and joy.
Big message here, the game is rigged, i wish people weren't so hard on themselves and think their success or failure is due to purely personal responsibility! The economy is rigged, people need to come together and spread this message, hold the government to account. Thanks Gary! - a young man 👌🏾
I find it weird that the common man will get angry about me as a train driver fighting to get a raise. I’m far from rich. I’m doing ok. I live modestly and am able to overpay my mortgage. But I’m not rich. Even on my earnings I have to deal with the cost of living. My income isn’t immune from inflation. Why wouldn’t someone want me to succeed, because they can then go to their bosses and point to me saying “he got blah blah… I demand blah blah too.” They can even get my job, I’m retiring next year. I’ll have a modest pension for a 55 year old. Enough to live on. I want that for everyone. But people are so easily turned against each other. They willingly fight each other over scraps while a rich laugh at them. Every thing you have said made sense. The game is rigged.
The common man see's the price of a train ticket going up and the service getting worse and then he see's a news story about train drivers wages going up while his stay the same or go down. So not weird that he'd be angry at you really. What he doesnt see is the years of under investment and asset striping by private companies. Most people don't have the time to go looking for the real story. They're too busy working and/or looking after their kids. ' A lie can make it's way around the world before the truth even has its boots on' - Terry Pratchett
Just see how long it takes for no work till you are Poor Most are Poor and Lose it all in under 3 Years House or Otherwise yes people need better Pay and Less work Hours
From across the pond here in the U.S., we will join you. I hope the younger generations band together like no other generation has seen. Thanks for the honesty. 🤘
No one can even say things like this in the US or you'll be called a communist. I'm glad to see leftist thought is still allowed in the UK, but it is not here in the US. People like Bernie and "The Squad" are just trying to fight for basic services and still get met with "communist" rhetoric. Much less talking about restoring equality in society which will take a war on wealth that simply will not be allowed.
In the gold rush, the majority of the people who really made money were those selling picks and shovels, not those doing the digging. With trading, it's the platforms and the 'gurus', not those doing the digging.
Here is the thing, I come from a poor background - very poor, with my parents being alcoholics and and and, you get the picture. I stepped back and looked at my life when I was still in school and decided, knowledge will set me free - I took up educational books that was out of my knowledge skills and drilled them into my mind and finally understood what was going on. I applied that to my life from that point on and I got smarter along the way, even then I could not go to university because we were poor. I just smiled and kept going, working in a warehouse packing 50kg bags for years, but still hitting those books, gaining degrees that even university students can't get. I eventually outsmarted a lot of people and have a decent job making enough money to support my family, but here is the thing.... even with the amount of knowledge I have and I push hard to be better no-one gives me the slightest bit of attention because I come from a poor background. Life is super stupid in that way. I really hope my kids will do better.
Giving investing advice you'd also run the risk of leading a bunch of viewers to bet on the system failing and actually causing the problem to get worse! Thanks Gary, keep up the good work
I’m half way through this guys book now. It’s absolutely mind blowing and I honestly can’t put it down, I’m either lol’ing or just silent is disbelief at how it all operates. Plus watching these videos you realise he’s such a nice, humble fella. Well done.
Have a rich dad. I wondered how you were going to answer this question Gary. (I have no desire to become rich btw) This response was brilliant. Well done for sticking to your principals. Let’s change the rules together: thanks Gary.
I don't particularly want to be rich, but I would like to have a secure home. I am sick and fucking tired of bouncing from one improvised temporary rental housing fix to another similarly insecure solution. And each time they're much larger than I actually need or want, or they don't have the two things I do want: My own shower and the ability to cook a meal. (Just a hotplate and tiny fridge is enough, though an actual kitchen would be great.) I don't even mind that rent is high, I mind that it takes forever to find something you don't want for more money than it's worth, far away from all your friends. The lack of available housing strains social bonds by putting people farther and farther from their social network.
Try to get Rich With No Parents Help then you see if you Deserve More or Any From your Dad the Easy thing is getting Help From him without showing you deserve it.
There is something I sense with your voice when you speak. It’s like when you meet the person who helps you pick up the groceries from a broken shopping bag. It’s done with kindness and empathy, asking nothing in return. Thank you for speaking up and the advice to young people to stop worry and concentrate on quality of life by getting closer together. Powerful thoughts
Such an important video, Gary. Thank you so much. As you explain: the idea of climbing up out of our social class has been deliberately fabricated by the wealthy; instead we need to pull together, to pull our whole class up.❤
Just found you and your videos Gary, your content is spot on and totally agree with your standpoint on the rich poor divide. I am a millennial who managed to buy myself a good sized house in a great neighborhood. I’m not saying this to brag, I just want to add my experience to Gary’s points. I got myself on the property ladder without crypto, forex or any other financial instrument. I learnt a trade, worked every hour under the sun, then became self employed and made a name for myself as the go to person for my trade. Being passionate about what you do and as good as possible at what you do is in my view most peoples best chance at becoming financially comfortable, not a billionaire
Thanks man, I needed to hear this. I’m 24, a civil servant and struggling to move out of my parents’. Lots of people my age seem to make way more than I do and it gets me down a lot
I’ve been feeling like a failure it’s my 38rh birthday today and I have been down and negative all day but after listening to my eyes are wide open. Thank you so much I needed to hear this!🙏🏽
@@undesignated3491 Not true. How many rich people do you know? The ecological footprint is proportional to the amount of money you possess. Meaning that the richer you are, the more and the more expensive/ resource-intense products you consume.
I very much enjoy the profound comments, and Gary’s heartwarming messages about working together, as a teacher myself, I think of it more like a gardening job, watching the plants grow every day and being enthusiastic about it
When I first looked into personal trading out of frustration in not being able to make money, my Dad made basically the same point a different way. He pointed out the simple fact that even if you make the right choices & everything gains instead of loses (& losing is obviously a strong possibility), unless you start with very large amounts of cash, any gains you'll make will be insignificant. Another way of saying it only works if you're rich already. It only works if after you've paid your living expenses, you have a lot of excess money left over to play with. Obvious really, but a very easy point to miss when you're driven by the desire to make more money.
Those with excess money I call "the investor class". I think it's more apt & descriptive than the 1% & it has a long tail too, so captures a lot of people on the lower end of the wealth spectrum, through aspirational thinking, into sticking with the status quo. One of the additional reasons I believe it's so hard for politics to move into more progressive areas, so all the more power to people like you (& my Dad!) for trying to do the right thing by everyone, rather than just voting for favourable tax rates & keeping the assets bubbles going. Loved the book & bought a copy for my brother, who introduced my to your channel. Keep up the good work Gary!
I hope that people realize that everything that you are saying applies globally. It’s not just the UK or Europe or the United States or Canada or any high GDP country, it’s every one. The wealthiest people set up the economic and political systems to best suit themselves and they don’t do that as individuals but collectively. The only way for the ordinary people to counteract that is to act collectively. And a reminder also that it’s very very unlikely for everyone to win the lottery and get rich, but it’s very very possible to get comfortably well off through good government policies that prioritize expanding the middle class and reducing poverty.
So I saw an interview you had with some journalist which recommended your book. I bought it on audible, and listened to it with great interest. Glad you beat Citibank. Anyway, I was telling my work colleague about it, and I said the book was called the Trading Game, and he immediately showed me a text from another mate who had recommended it. Now that’s what I call alignment, synchronicity or whatever. Keep it going Gary.
This guy seems to be one of the most sane I have seen online. I am sad that he gets so little views in comparison to "get rich quick" youtubers. I do not agree that you have to accept that if you are not rich you give up on financial success. I think that if you try to achieve financial success by actually doing something exceptional and enjoy the process, you will start value self development and money might come naturally. It slightly resonates with noble prize idea in my opinion.
Excellent talk - thank you. When you realize the game is rigged, then you can begin to appreciate all the truly valuable things in life- family, children, nature, the sea, sunsets, growing your own food and herbs, walks, fresh air- in other words, everything but money.
He was very emotional in his early life, the book goes into good detail on this. I guess when your job becomes money, the emotion comes out of the equation. But he wouldn’t be doing what he’s doing if he wasn’t passionate about ensuring the rest of society has money in the future
@@WilliamAhlertwhen you have a lot of money you don’t have to worry about it. Plus traders are natural gamblers, a hell of a lot of them actually don’t make money with all the resources at their disposal. There’s been studies where they found it most of the traders do no better than random chance.
@@davideyres955 And the whole 75% of traders lose money. There's traders and there's professional traders, and there's professional traders who last, aye. That's true. You get emotional about it it can screw you up
Such a good clear message - thank you. Fighting the story that richness and access to consumer goods are the most important markers of success is vital. Its also vital to build another story in its place - a story that values connection, sufficiency, autonomy and community resiliance. And supporting that by working to change the system that favours those who benefit from keeping everyone focused on individualism is such good work.
The home I purchased in 2023 has appreciated by $60,000 since my acquisition. However, the downside is the diminishing value of the dollar. I am currently contemplating strategies to reinvest $300,000 in the real estate market.
Portfolio diversification is encouraged in the investment plane. If I were to suggest I'd say you need to get a financial expert to assist you with the best options.
Right. Likewise myself, I started delegating my day-to-day investing to a CFP ever since suffering a major steep-down late 2020, amid rona-pandemic, and as of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments.
I just googled Kristin and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I know! Eat dry bread with fake butter on, and drink only tap water, and save all the money you earn, also do not buy things you don't need. I know, because I've seen others on youtube to it, and it works! Now I'm rich!
Recently bought some recommended stocks and now they are just penny stocks. There seems to be more negative portfolios in the last 3rd half of 2023 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?
Just "buy the dip". In the long term it will payoff. High interest rates usually mean lower stock prices, however investors should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder
The truth is that this is really not as difficult as many people presume it to be. It requires a certain level of diligence, no doubt, which is something ordinary investors lack, and so a financial advisor often comes in very handy. My friend just pulled in more than $84k last month alone from his investment with his advisor. That is how people are able to make such huge profits in the market
Fantastic insights and a welcome change hearing a young economist speak. I am 60 and you are absolutely correct, though I do not know what constitutes rich these days, I say to my daughter if you set out to be rich in anything you will likely fail as your motivation is too narrow. Aim to be successful at something aiming for excellence in that field, and be patient. Very few people from a poor background who set out solely to be rich succeed ( you can have moments when you feel that way ). Luck plays its part, but the success part is usually incremental which is where a level of patience is required
He's absolutely right. A big problem also, is there are genuinely people who believe those richer than them are always more qualified, more intelligent, and better character person.
Currently 50% through your book! From someone who started trading just over 12 months ago I’m finding it so interesting and relatable. Not to the fancy brokers lunch’s or huge sums of money but the terminology and likeminded confusion with how it works. Every time I hear a new nickname relating to the shape of someone’s head i have a chuckle 🤣. Keep fighting the fight Gary 💪🏼👏🏼
I just turned 42 and I have 2 brothers that are 52 and 53. Both of them were born in an era when houses cost roughly 3 times the annual salary, you only needed a 5% deposit to get a mortgage and interest rates were low. They both got on the housing ladder early. One became a landlord and is also a relatively successful movie script writer/director. The other worked in the church but did property development on the side. They now both have quite a bit of wealth. By the time I was in the right position to buy, the 2008 financial crisis happened, and owning a property has been out of reach since. I am a bit lucky in that my parents own a 3 bedroom semi in Surrey and my Dad has investments that I will one day inherit, but he's not willing to give me any inheritance early, so I am basically stuck paying rent and fending for myself until both my parents die. I know I'm not alone, and I am far from the worse case scenario, but it just goes to show how luck, and when (and where) you're born has a huge bearing on how well you can do in life. There will always be exceptions, like Gary, but that will not be the case for the majority.
What’s with all the spammers? - don’t believe the scammers in the comments saying they are using a financial advisor. Why can’t the algorithm find these scammy comments and delete them.
You should be hard on yourself if you want to progress. If you go easy the world won’t come to you, you have to go out and get it. No amount of tax is going to give you what you want. If you want a house, car etc put the time in. You may still not make it but if you don’t try you defiantly won’t.
@@davideyres955 It's different if you have a thumb pushing down your prospects. Taxing the rich and reducing wealth inequality WILL make it easier to buy a house, because it will make prices come down. The rich will need to sell off their assets to pay the taxes if they taxes are agressive enough.
@@davideyres955 You'll notice also, our economy is built so that if you don't work bloody hard, you die. So your advice is kind of null and void, really isn't it?
Loved your book Gary. Now passed it on to my granddaughter who has just been offered a job with a leading venture capitalist. Her first job after getting very high grades at school and University. Am sure she will learn from reading about your experiences. Cheers and good luck Keith
Bang on. I feel that the question "How can I be rich?" Is the wrong question. The real question is how do we enrich our lives without the need to be rich. And the answer to that question is by building communities that can support each other.
Agreed. The more water, food, and housing you can get by working together with other people, the less dependent you are on the economy. So join a housing coop, join a farming coop, etc. etc. etc. It isn't easy, but the less susceptible you are to money, the safer you are from the rich. Of course, don't build something of too much value or they will come take it away by force.
I keep saying to my friends that their kids are screwed, they don't seem to care(they all live at home still in their 20s and or are saddled with massive debt via loans and mortgages). They can't understand why I'm bothered, so I have given up. Bizarre!
You get rich by working together... this is exactly why Western Society is being trounced by Indian and Chinese families... they pool resources as a family to buy assets and recycle it around. Us white people operate in silos. Its a huge thing to try and change... I applaud you and my gosh I'd love to help be responsible for that change too
I do admire the success in the elite Indian families because it trounces and subverts the barriers in the class system. It shows how important sovereignty and a power base through a nation state is.
There is so much gaslighting that happens to the poor. Thank you for speaking truth to power and trying to do something about it. Wish you could help us out in the catastrophe that is the United States
“How do you get rich? You get rich by working together” now that’s a great quote and tells a story about individualism and how it’s made us forget the strength of community like a form of depoliticisation.
Perhaps why A.Raynor is being attacked so much in the media ATM 😔
@@rossdavison6526 she calls for transparency for MPs all the time. She should be open.
@@rossdavison6526 it absolutely is, this came from “Lord” Ashcroft paying people to dig as much dirt on Rayner as they could and this was the best they could come up with, technicalities that you or I would do our best to avoid paying tax on if we technically could because that is the only opportunity most people have to make that sort of money their entire lives and it gives them a level of financial security they could never dream of. But Lord Ashcroft makes himself a dual British-Belize national to avoid paying over £100,000,000 in tax and gets to take the moral high ground because what he did is legal. And becomes a Lord by giving huge donations to a political party, pays people to write unofficial biographies on his political enemies that the Conservative client press ran by other none doms with similar tax histories promote relentlessly. The game isn’t just rigged, it’s rigged to levels of absurdity that are difficult to comprehend.
So true
@@rossdavison6526 it absolutely is, the story came from research Lord Ashcroft paid for, a man who made himself a dual national to avoid over a 100 million in tax. The game isn’t just rigged it’s rigged to levels of absurdity difficult to comprehend.
I love the honest answer to the "How can I get rich" question. Most other people would be pushing a book or a training course. you're a breath of fresh air.
Felix Dennis did the book. He’s dead now. It was an interesting read. But ask yourself, “What is rich?” That’s the question you really need to think about. Lesson 1:- Money doesn’t make you happy (well, it does for about the first year apparently).
That old adage “The best things in life are free” is very true.
Go and take another look at Maslow’s hierarchy of needs.
A lot of people make a lot of money selling the dream of being able to get rich to people. The world is not without its irony.
@@dicerevo Grant Schapps being a classic case in point, or should that be Micheal I'm never really sure who he is these days.
Not sure I agree with everything but What a breath of fresh air in this self promoting, tik tok/instagram obsessed time we live in. A lot of people are pretending to be rich nowadays also.
Gary is pushing his book, don’t kid your self
I’m already rich, I’ve got a wife and two kids and we are all healthy. The outdoors is all the happiness you need. Keep it simple and life is amazing.
you are "rich" when you live the life you want to live
Yes, those things are things people will say we’re lucky to have. Wouldn’t be able to do it without money, and prices are going up because of the rich. This kind of emotional wealth you have is now much more difficult to get together
The outdoors is the thing that people with money want to buy off you. Be diligent and don't sell out.
“Live your life abundantly”, as the saying goes. “Think abundantly and you will have abundance”. So, whether that’s true or not is academic. But what I find interesting is that most of those who have made a lot of money are no happier than those of us without.
Do you resent those who chase money and financial wealth and think they should be taxed more?
Your honesty in this video is literally moving. I hate that I just found your channel today and not sooner. I wish more TH-camrs were as honest as you. My goal is to watch all of your videos.
Discovered him today too. What a wonderful person. Courage, integrity, and peace are values rarely found these days.
My favourite advice story is this: I was trading, and making a bit of money doing it around the GFC. There was lots of stock available, and discounted share sales etc. A friend asked me for advice. I was hesitant, but I said "here's a mining services stock. It's a shitty company and 50/50 chance of going bankrupt, so do the smallest bet possible and assume the money is already gone, but it could go up a lot." Well the friend bought in. Then the price went up 20X. A few years later the friend said "I've got a bone to pick with you, the stock you recommended went bankrupt!" I replied with "so you didn't sell in the several years that it was 20X?"
Even when you give Nostradamus-level advice, you are on the hook for the bad and never the good. Don't give advice unless it's "Don't trade. If you are asking for advice, you are going to fuck it up."
They don't understand that they don't have any profits until they cash the shares in.
They should have sold 90% of the shares and bought gold...
Cash in as it goes up , start with taking your original capital to take out and then set levels to diversify into other areas if you don’t need the cash . You have to have the mindset as it’s all just paper profit in meantime …
same thing happened with my brother. He lost 60K in bitcoin in the last few years and when I asked him why didn't he sell when it was very high, he told me "I'm in it until the end". I still to this day don't comprehend his mentality or what he meant. I think and I could be dead wrong here, they don't care about a 10X profit which my brother was at, or a 20X or a 30X. They're in it until they're rich rich.. They don't view it as an investment, they view it as a lottery type of thing.
Sounds like Tesla. It was $50 for the longest time, then went to almost $2k. Well, if you didn't sell at that point...
@@ciararespect4296 so you now have a quarter of a billion dollars and spend your time telling people in TH-cam comment threads?
we have lost so many smart people to the finance sector, gambling on made up stock prices. Imagine if all the maths whizz's like yourself had entered into the tech and engineering sectors. I reckon we as a country would be much better off now. Love your channel, I have learnt so much. Thank you
I started out in engineering. Ended up working for banks before I started making real money. Just wrong.
This is why we haven't really progressed since the 60s.
We had the illusion of progress driven by the rapid incremental improvements in IT, however that's now very much in a stage of diminished returns for most peoples needs/uses. The trajectory of IT was set on its way long before and the silicone chip, the LED and a whole bunch of now ubiquitous composite materials were all arrived at in the 50/60s. We taxed excess wealth properly after ww2 of course.
Yeah, I'm an engineer. I know if I had wanted to make a lot of money I'd have done so much better switching into the finance sector, but I love engineering. But with the youngsters coming up it's even more the case, and we're losing even those who love engineering. The difference in income is just insane.
@@ericritchie6783so many people in the world right now, esp. even in the tech sector, think the opposite of this, it's scary. being ignorant of history does a number to your perception of reality.
@@Elspm oh you're a martyr now? why didn't you become a footballer, difference is even greater for kicking a ball for 90minutes a week.
So glad that you ended with the message about working together to change the system. I’ll happily be part of the ongoing collective action.
Really feeling the power of The Woolly Hat of Wisdom today 😁
I’d be retiring or working less in 5 years, and curious to know how best people split their pay, how much of it goes into savings, spendings or investments, I earn around $190k per year but nothing to show for it yet. Wondering if they're any short term opportunities I can invest in.
target date funds made me a multimillionaire but i also watched them drop 40% in a very short time and take a long time to recover. my best suggestion is that you seek the guidance of a fiduciary to avoid mistakes
Great! mind if I look up your advisor please? only invest in my 401k through my employer as of now, but enthused about investing for my eventual retirement.
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, "Teresa L Athas" turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
Thanks for sharing. i searched her full name and found her web instantly. After reviewing her credentials and conducting due diligence, i reached out to her.
I came to this video after our first home purchase fell through due to the seller backing out to rent the property instead. After searching for a year and a half I’ve realised there is nothing out there that I can afford and my financial state and career has left me in despair. This video made me feel more depressed but it was the slap in the face with reality that I needed.
By you saying that my lack of success is not a measure of my intelligence or my work ethic did Improve my self esteem for which I am thankful for.
Keep doing what you are doing man, you are a shining beacon in the dark sea of bullshit, and it’s about time we had someone who can give us guidance like you have.
my advice would be to not focus on a game you can't win. you can still be happy and rich in terms of life. being born in the west, we are soooo lucky. focus on the good. im not saying stop being an activist, but don't let it destroy you.
imagine being in born in a poor country where even if you are smart, you can only earn 10 dollars a day or less. this is life for a lot of people in asia, africa and latam. i know it's a weird perspective, but appreciate what you have - however little.
The same happened to us and we stuck our house money in a variety of indices, mostly S&P500 and Tech Funds via Plum. The A.i. boom has seen our deposit grow 20%+ in less than a year.
Another way to think about this problem, is to start learning the rules of the current game and start playing them at their own game, until you have power and influence to change it.
Also upskilling and making yourself super valuable and reinvesting in yourself and more into "safer" funds on dollar cost averaging strategy.
The hardships we had to face because we lost out during the crash and then the fall of the pound during the years Gary was getting rich were probably as transformative to me as the money was to Gary. So we built back by appreciation of where we were and who we were with and step by step reclaimed the right to get off and stay off the financial treadmill. When you have very little and you make it all count towards freedom. You become freer.
Feel the same exactly 💯 I'm literally hoping for a little or big lottery win just to ease the stress of bills/mortgage 🫠🤦🏻♂️
You nailed it with the comment around ‘it’s not living in relative ‘poverty’ it’s the judgement that’s the problem’. Spot on. The internet has told everyone they should be living in big houses and driving flash cars otherwise you’re a failure. We can no longer be happy working in the ‘factory’ because we should all be millionaire TH-camrs or bankers. It needs to stop. Another example of social media killing society
Yes indeed, happier with less.
Yes, but you can't buy a small house working in a factory and most people won't get any real sense of meaning and more from that job
Yes and no. Economic realities don't lie. If wages had kept up with inflation over the last few decades, nobody would be complaining. But they haven't have they? And the rules of the game are rigged very much against those without wealth. So, this ennui and alienation is nothing new, and social media is just another medium for selling the lies. Used to be the TV, the newspapers, and novels. We've just been through the biggest wealth transfer in history, and poverty is increasing up the wage distribution from the bottom up. And AI is being setup to cull the white collar jobs we were told to aspire to. And that's the reality. Time to see clearly, and drop the delusions.
But there are no shitty tiny apartments available, unless you're willing to pay as much as you have to pay for a big house.
So be happy with your lot in life? Know your place?!
Whatever dude, you go for it, you stay safe believing that
i've known this all my life, but never heard anyone else articulate it. thanks
If you want to get rich, build a brand, there has never been more opportunity than now. It isn't impossible to be rich.
@@tomabbott6097 Wow what great universal advice. Everyone just build a brand!
I like that you admited that TRADING is GAMBLING... I salute you sir ! EDIT: Since some folks doesnt agree with me, I need to mention something... TRADING is GAMBLING for us (the small fishes in the pond)... For the big sharks it is not... They always win!
No, its not.
@andreialcaza hahah ok mate show us your foolproof strategy, trading is 100% a gamble
You can be in the market, beat 90% of all investors over the long haul, and do barely any work. Just pour all your money into a low fee index fund (VGIX500) with an employer match retirement fund in the US, and if you really really believe in a business because you know that business through your personal purchases, use a small amount of that money to gamble on those stocks.
It's not GREAT, but it's better than leaving your money in low interest stuff like your bank account, CDs, or money markets.
I like the part where he gives his friends good advice, they ignore it and lose money, and the takeaway is we all need to work together. Why don’t you give them your money, then?
Nearly every decision you make in life is a gamble. Trading is gambling but so is everything else
Gary, you are 100% correct, but people forget the most single important thing in life is your health.....l am double your age, lost a brother through ill health in his late 20's....no amount of bank balance would change that fact.
We currently live in a wealthy village in Surrey, but we are in a very small house. My wife used to say to me how come this person or that person have big houses or expensive cars... l said most of them have had a massive leg up financially in life, either help with there business or house.... & the majority of the time this is the case. Unfortunately nowadays the youth want quick wealth & that very rarely happens👍❤.
Greetings from Germany.Yes very much agree, never compare yourself to anyone else . Only compare yourself to the person you were yesterday. The trouble with comparing yourself to other is that you simply don't know what those other people go through to sustain that lifestyle.
In USA, there's a thing called "hood rich". Basically, it's all outward wealth. Most probably it's due to extended credit.
They don't own their home, their cars, or their clothes. All credit.
Their net worth is poor and not visible until it's too late.
Comparison is the their of joy
I’d like to add: Ignore the culture wars, if you’re angry at immigrants, woke and trans people, you’re fighting the wrong battle - it’s ALWAYS been a class war
THIS ❤
Exactly.
Private schools do not enforce racial divisions, they maintain class segregation
💯
Except that immigration itself is also class warfare.
If we all stopped blaming each other there would be revolution tomorrow.
That’s is the societal divide explained in the most understandable coherent way I’ve ever heard. If WE as working people don’t change the political system then nothing will ever change. It hasn’t for centuries or even for ever. Find the information, inform anyone and everyone you can, then hold the politicians and the super rich accountable.
If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional like I did. If you get the facts about saving and investing and follow through with an intelligent plan, you should be able to gain financial security over the years and enjoy the benefits of managing your money.
In fact, I had no prior experience or understanding when I began investing in 2020, but by the end of 2023, I had made a profit of almost $850k. All I had been doing was going by what my financial advisor had told me. This demonstrates that all you truly need is a professional to assist you; you don't even need to be a great investor or put in a lot of work.
@@mariaguerrero08I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
Finding financial advisors like *Izella Annette Anderson* who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.
Absolutely right, the game is fixed.
True social mobility is (by and large) a fallacy.
My daughter spends almost 70% to 75% of her income on basics, room in a shared house, groceries and travel to work (NHS).
Without free accomodation (i.e. live at home) she will forever live in a room in a shared house and having a family is a distant dream.
So, go Gary. We need your channel and your focus. Thank you!
Leaving your parents home to live by yourself in your own house/flat is a relatively new thing though, isn't it?
@@lukemclellan2141 yes, since the key latch kids. The problems we have today all lead back to the boomers and how they treated their children... and ironically boomers are now the ones with all the wealth today.
@@lukemclellan2141what do you mean?
A long time ago I spoke to work colleagues who are in their late 50s and they all bought their first flat or home in their early 20s which was in the late 1980s.
Interest rates were high like 8% to 14% but it was all affordable. Also they had an average salary in administration at the time.
@@lukemclellan2141 yeah, but in a time where we basically have such an abundance of material and technological and energy going on (think being able to build a replica of Paris 1-1 and leaving it empty for reasons) - there is no reason to accept the past way of life (being a technologically blessed serf for your richer betters) as the way it should be.
We are not rich but compared to most people in the country you might say we were. We do have sufficient money to be able to help three kids buy a house so we are very grateful for that. I do know how fortunate we, and they, are and that it is a horrendous life that must people live.
"What should I do to get rich?" ... discover what your strengths and natural gifts are, and then exploit those.
"Will I make money trading FX" ... No. I said that to somebody very recently. The caveat is that it may be one of your natural gifts, but that is unlikely.
Gary, I like your blunt and straight-forward approach. Thanks
Agree professional traders have terminals delivering real time feeds and data and they have learned to put all that real time info into good decisions.Trying to replicate that at home is difficult without having been a professional trader. We need better open source information platforms
So true. Many people feeling like they are failures without knowing their friends have bought houses with parental help.
Doesn't even touch on the fact that 96% (?) of us are disadvantaged educationally. The other few percent enjoy private schooling. Then we compete for good jobs.
So much for our wonderful meritocratic democracy!
I'm the first to say what I inherited..
Honesty is always best policy
Others want people to think they want it. Even worse is when they think they aren't it or were entitled to it
Public Places are Rarely giving People what they need to be on the Top most are Average at best now if you spend $5K Per Month Many Doors open..
Average People get around 1800$ Per Month but they need $5K
I love the acknowledgment that community brings ‘wealth’ of a different kind but equally as valuable. It is sadly lacking in so many areas.
Gary, may I say that your straightforwardness is a shining light, a sharp contrast to the hundreds of 'advice-givers' on youtube and elsewhere. We have been inundated with videos about 'how to make your first million' and advice about putting away thirty quid each month, 'and in a while [a few thousand years by my count] you'll be swimming in it'. And they are unavoidable, I try to avoid such videos, but I hear about them a lot, because people, friends, students, everyone is so anxious to escape... You're the only one who essentially substantiated my usual answer when I get asked 'the question'. (May answer being: there are three ways to get rich: be born to it, marry it, or steal it.')
Gary is a millionaire trader telling you that you have no way to build wealth unless you are already wealthy. He is talking rubbish. I did it by investing in training to get into a career that paid well, invested in index tracker funds as suggested by Warren Buffet. It was not get rich quick but I had no help from parents. Rich people also pass know how to offsprings, not just money. There is no shame in being poor if you are not from money. But poor people often stay poor for good reasons. Getting a good job and investing well is a heck of a lot easier than changing the entire political system which Gary advocates.
Gary is a massive inspiration. Calm in explanation and totally honest in his delivery.
"You're trading against me!" is one of the clearest warnings I have ever heard.
Just invest in a low cost index tracker fund and you probably will beat Gary over a ten year period. Most (90-95%) trader types do not better the market and charge a fortune for achieving nothing. This was the advice Warren Buffet, gave years ago and he has been proved right.
@@philipjamesparsons Yes, this was Buffet and Munger's advice. They said only the top 5% of traders can beat the market. Guess what Gary is...
@@duxnihilo He thinks he is a top 5% trader beating the market. Well that's what he thinks; they all do. Trader = gambler with a system. Gary is a pied piper. I would not follow him. Do not believe him that you cannot make wealth for yourself via career and investment.
@@duxnihilo He is suggesting he is one of the 5%. 100% of traders fall into that category.
I immediately remembered an advertisement I saw for a trading app where rather than making trades yourself you can pick another user of the app who believe to be a successful trader and the app will follow their trades. On the surface seems good but it will always lag their trades so you’re likely always going to buy for a little more than they paid and sell for a little less. Not good if they are trading volume for marginal gains.
Gary, I super respect you saying this: "you can't teach trading, 20 years experience, etc" it would be super easy for you to sell courses and have a massive TH-cam channel pushing / selling the HYPE "get Rich quick train". Keep the great channel going
Gary I just wanted to say that you are giving me some hope for this country....
I realised for myself a long time ago that this country keeps getting poorer, every single year. I've been saying this to my parents and they are kind of dismissive with me. It's the reason I've never been interested in politics. Because I realised myself that you can vote labour or conservative and it doesn't matter... The result is that the country is going to continue getting poorer. My vote is meaningless. I am powerless. I have felt this way for most of my adult life.
But the way you talk about wealth inequality, it gives me some understanding of why it is happening, it makes so much logical sense to me and look I'm a web developer, I don't know anything about this stuff... but you explain it so well and the way you talk about this actually gives me hope for the first time ever that maybe if enough people support this message there can be positive change.
Please keep this up, it's so important and thankyou for this.
The way you paint a picture is just perfect. Direct but loaded with info. This is where I come to learn the real message! You can see things from both sides of the spectrum which gives you a perfect ability to say how it is. You don't hide your luck, but you capitalized on it. Continue to create and thrive! Respect!
The one question I've always wanted to ask Gary is all the people you work with in your book are male . Could you have achieved the same if you had been female?
Be born rich. Extract more value from numerous people than you give them. Influence rules and laws to retain and pass on your wealth. Rinse and repeat.
Good answer!
It's sad you think this way
@@chidiebeleokekenwa1686 it’s true, this is what the very wealth do, they twist the laws so a corporate raider on 100 mill a year pays less tax than his cleaning lady, that’s a big problem
@@chidiebeleokekenwa1686 necro but OP and 1st reply made no value statements. Looks to me like an answer to the question implicitly posed by the video's title -- an answer which is also 100% in-line with what Gary said in this video and would likely tell you again today. Unless you think their thinking is "sad" because you have another idea about how wealth is acquired and reproduced. Then I'd say you are probably just wrongheaded about how most of the capitalist world works. Absent an alternative answer from you to the question "How does one get rich?" I actually have no idea exactly what you mean or think.
Genuinely commenting here, not trolling -- was curious if you had an alternative analysis and answer re: "becoming rich" or if this was all just a communication failure on ya'lls part (or mine).
I love this guy he has no filter, his not like the other you-tubers. His honest and straightforward which is so hard to find here on TH-cam.
Love this message Gary. I don’t want to get rich. ‘Rich’ is a relative term. I just want security for me into my old age and to try to help my adult child to get the money to buy a house. Security. That’s my idea of rich.
One of the most important voices in the country right now. I hope you have a plan for when the machine comes for you.
I used to trade in FX. I lost all of my money multiple times and I figured it out! I learned programming and got a job as a software developer!!! 😂
YeAH fx TRADING IS b*s*.
i TRIED TO TELL PEOPLE NOT TO DO IT.
At what age?
Why did you stop Fx trading
How I'm trying to become a Software Developer? I need tips.
Theres a massive difference in salary though 😂, but good for you!!
After so much struggles I now own a new house and my family is happy once again everything is finally falling into place! and I pray that anyone who is reading this will be successful in his or her life!!!…..
I'm 37 and have been looking for ways to be successful, please how??
In times like this you need a good expert like Sophia chandler to help you get through.
😱Sounds familiar, I have heard her name on several occasions.. and both her success stories in the wall Street journal!
The economic hardship, recession, unemployment and the
loss of job caused by COVID pandemic is enough to push
people into financial ventures.
Trading without professional guide...Huh I laugh you, because vou will remain where vou are or even make huge losses that will stop you from trading, this has been one of the biggest problem to new traders
This is a great message, part 2 of the wealth inequality discussion.
Not only do we have to demand that our politicians take action NOW, to reverse wealth inequality, but as Gary says, we have to push back and ignore the online boasting of having wads of cash and flash cars.
If we all work together, we can all share in the benefit. If we work individually, the more likely we won't change the system and will become poorer ✊
Try voting!
voting doesn’t work
@@Humanity101-zp4sq I do - and don't understand why you should think I wouldn't 🤦♂ -, but that rarely solves problems such as this. With our system not fit for purpose, the only "sensible" vote in my constituency is for Labour. However, I emailed my Labour PPC re wealth inequality, and she flat out said they don't believe taxing the rich is the answer 🤷♂
So, while we have to get the Tories out, we collectively also have to work hard to get Gary's message to sink in and stick.
@@Gerry-Hat-trick Spoil your vote.
Any discussion around politics and you've already lost. We cant all be rich. Policiticians are simple there to ensure we're distracted while the status quo is maintained and the rich stay rich
DIGNITY!!! Yes, you've nailed it! Not related to income, or even achievements, absolutely! So wonderful to hear this truth spoken to the masses! The intrinsic dignity of the human person transcends all material variables. If only we could always remember this! The question: "How can I get rich?" Is really a person asking "How can I be happy?" They just don't realise it!
Gary, one word comes to mind whenever I listen to you ..."Humility!" I believe it's the highest of human virtues, whether King or beggar, it also transends! I would say it's the ability to see the truth of who you are and where you are in life and to accept it with simple gratitude! You have this Gary, it's an amazing gift to those you encounter. I pray you never lose it! Thank you.
My husband, an engineer is good at maths. He went on lots of trading courses, spent a lot of money. Some offered support afterwards supposedly offering tips. The only people who really made money were those running courses, he made bits here and there, but no real money. It’s a tough field and they are not kidding when they say you can lose everything , I think it is really posh betting.
Yes and no. People make money from betting, but Derivatives makes Sports betting look like a mugs game. And most of the finance world is reliant on Derivatives for hedging. Yet the Ancient Greeks invented the same financial betting. It's the little people who aren't taught about the realities of wealth, and they suffer it's its lack the most.
It has nothing to do with academic level mathematics, you need fundamental understanding of the macro factors on the markets, the simple thing to do is buy an index fund and be a little more adventurous in the bull market. People who don't at least understand the market cycles of buy low in bear market, and sell high in a bull market shouldn't gamble with their money.
We need to challenge a system which makes us and our children poor. We need public investment in education, and a change in what is taught, NHS, housing, proper levels of pay, social mobility. An end to private education. An end to paying for university courses.
People like to think the people trading and affecting the prices know what they’re on about but just look at what happened with Pokémon go, where nintendos share price rocketed for a day or so, until the morons realised Pokémon go wasn’t developed by Nintendo but niantic, DOH!
It isn’t based on reality, it’s based on speculation and perceptions
Trading is all about information.
The greatest traders have the most information.
100% agree with every word. The best financial motivation video in you tube,no bs,no sugar coating,simply the blunt truth about the rotten system of capitalism.If we want a brighter future Unite the people,working and middle class
I'm nearly 50. Of all the people I went to University and studied with, the ones who are 'proper rich' now come from 'proper rich' backgrounds. They arrived and left uni already rich.
The ones who I would call 'rich' (definitely well off, but not aristo or anything, upper middle shall we say) inherited or got their first property bought and paid for them by bank of mum and dad. This is without exception.
The ones who are 'comfortable', have worked hard and met partners who also work hard at their jobs (dual income necessary, even when having a family).
I went to a top class Uni (not boasting, just giving you context).
Gary is spot on and honest here.
One more thing I would add - and I share this as a feminist but we're all into honesty here right? It's not just having a rich Dad that I see gives people the wealth they then have later in life: a lot of women 'marry' into wealth before they have a family.
(I've had that option several times - didn't take it - no regrets, even though I still struggle to buy a house in London and could easily have opted for the 'marry into money' option ;)).
36, and I appear to be looking at the same outcome regarding my classmates!
Very similar story from me. Two notable exceptions: one bloke who married in to a wealthy family; and those that are doing the best are those that didn’t go to uni but got on very specific technical skills training back in the day: YTS. Apprenticeships would be the modern equivalent. There’s no way I’d do a degree now unless my employer paid me to.
Unfortunately university is a mugs game now, given the fees, proliferation of degrees and disinterest of education institutions unless you’re an overseas student.
@@mickeysmouse4800 The University thing.. such a different ball game now. Agree with you about having a trade specific skill - that is evergreen and always in demand - and if you can couple that with 'good clients' skills you can do very well.
An ex boyfriend, who got a first from Cambridge University, not from money background, tried the management consultancy thing - the Cambridge first helped of course. But he hated it. At my suggestion, he set up a DIY business instead and put his last salary bonus into buying a BTL in Surrey. Fast forward 15 years, he owns three properties, has moved to Chamonix because he loves boarding, and is constantly inundated with work requests.
@@mickeysmouse4800
You are absolutely right about the value of having strong technical skills. I would say if you have that or develop and focus on skills that there is a demand for, AND couple that with strong customer engagement skills (be that in person or general communication), you can do well financially, regardless of a degree or your family background.
Anecdote: an ex boyfriend, who is not from money, got a first from Cambridge and went into management consulting. Hated it. On my suggestion, he left and set up a DIY business. Started small, developed into bigger projects. 15 years' on, he owns three properties and has just jumped Blighty to live in Chamonix so he can go boarding every day. Obviously there's more to it than that, including making sacrifices on the way to building the life you want, but you get the drift.
Yup. I also went to one of “those” universities, and i’d have sworn to my last breath at that time that there was no difference between me and my privately educated peers. That my results were as good as theirs and my life chances were the same. Well, i had no clue. I’ve done okay, mainly because i bought property the first second i could and kept doing so. But they are just in a different league now - and that’s before the colossal inheritances which are just starting to come trickling in!
The Nazi party only had to convince 10% of the people that they should go to war..the rest followed.The moral of the story is education critical thinking and a genuine love for our fellow man.Kindness is a currency that is becoming a rare comodity and its far more precious than diamonds.Great channel.
You are so dumb to use the national socialist German workers party as an example in this conversation.
They made everybody rich and didn't give all the money to private bankers and instead it went to the people.
We lost that war.
The people who won have done this to us not Hitler
Many parts of Germany had been occupied and taken from them after WW1. Its was just common sense to want to take them back.
Kindness is also misunderstood as weakness and people take advantage.
Talking about the Nazi party is cliche. Why is your country sending weapons to a genocidal regime? Why is mine?
@@aluisious not interested mate I’m poor. Who gives a shit. Nobody remembers that lad that burned himself nobody even remembers his name without the power of Google. That world is one putrid bag of shat and nobody cares.
I started out life in Hampstead. Parents were not rich but my school was filled with kids whos parents were. It took me many years to figure out why many of the kids in my class who were as thick as p*gs s***t were well off whilst i was struggling with shift work. I had the best scores in school, tested as having an IQ of 140, but i never received any meaningful support or information from school.
I eventually realised that i lived in a game of 'family wealth' not a game that supported talent, but a game that exploits talent for the benefit of rich families.
So true. The ones that did well from my school all inherited. None of them work as hard as me.
My parents died without realising that.
what career would you head towards to try and become rich
@@amirnayel1428 just do what makes you happy if that's possible
So refreshing to listen to someone so honest.. He basically just said the Game Is Rigged just do what you can, don't stress too much
This is one of the most honest videos I have watched recently.
Gary, having read your book and watched your channel for a while now I feel compelled to comment. No one has managed to demonstrate quite so accurately and succinctly as you do the situation of millions (billions even) of people around the world. You are a credit - pardon the irony - to the nation. We should be demanding the redistribution of wealth through a farer taxation system as you advocate much more loudly than we are. It's also very comforting to hear these words when you're slogging through life, trying to feed a family, doing your best to appreciate that there are ways to define your self worth other than monetary. Thank you so much and keep fighting the good fight.
"What am I doing wrong?"
"You had the wrong parents. You shouldnt have done that"
Gary you have a way with words
It's true but not exactly helpful! My parents were poor but I managed to become financially independent by the time I retired at 56. Invest in index trackers and BTL properties is my advise. See my comment higher up for more info.
😂😂 brilliant
It was sarcasm I presume and adds to the argument that it’s not your fault that you find it difficult to get rich these days.
@@anetapostek9833 I think they realise.
Poetic injustice 😜
Bravo! for your honesty, and sharing. You are rich in many ways.
'Change the System, Tax the Rich' - we need that on a t shirt - brilliant video as always Gary
you can be rich in many ways such as having a lots of friends, your health, peace of mind, hobbies, being grateful and being happy with what you have. that is how is judge being rich and wealthy. thanks for the work you are doing Gary.
The most refreshing speaker I've heard in a long time.
Dude, you may be the most honest person i've seen on the internet. Thank you for your honesty!!!
What I realised during my life is that most of the people don't understand that being reach dosen't mean to have loads of money, but to be healthy, have a family, trusted people around you, being able to travel, hobby, leave in a country free of violence, hate and war...
I don't have TV since 2006, I don't do social media... Maybe this is why being rich means something different to me.
Agree with you except you are using TH-cam, social media.
You have time to edit out the social media sentence or just delete the whole comment because we both know its lies.
@@OneLessCar Came on to say that :P
I hear ya ❤
Yes but to have those things comfortably you need to be rich.
Brilliant Gary, assessing wealth by how much money you have is a mugs game. As you say we can compete against them, they have wrapped up. Real richness comes with happiness and whilst money gives you options,it cannot buy happiness. Reframe what you have around and appreciate value. You may not have it tomorrow.
I'm not rich but own my own house, will just say i'm glad you are rich Gary and that we both appear to own the same spice rack.
😂😂😂❤
That's kinda rich though. Ask basically anyone in London how much better their life would be if they didn't have to pay rent.
This is probably the most honest answer to the "how to get rich" question that I've ever seen. It's sort of lifter a weight off of my shoulders
Congratulations Gary on the huge growth of your channel and the book. Personally the focus of society is wrong, rich is not wealth, be rich spiritually and emotionally and you will have peace and joy.
Big message here, the game is rigged, i wish people weren't so hard on themselves and think their success or failure is due to purely personal responsibility! The economy is rigged, people need to come together and spread this message, hold the government to account. Thanks Gary! - a young man 👌🏾
I find it weird that the common man will get angry about me as a train driver fighting to get a raise.
I’m far from rich. I’m doing ok. I live modestly and am able to overpay my mortgage. But I’m not rich.
Even on my earnings I have to deal with the cost of living. My income isn’t immune from inflation. Why wouldn’t someone want me to succeed, because they can then go to their bosses and point to me saying “he got blah blah… I demand blah blah too.”
They can even get my job, I’m retiring next year. I’ll have a modest pension for a 55 year old. Enough to live on. I want that for everyone. But people are so easily turned against each other. They willingly fight each other over scraps while a rich laugh at them.
Every thing you have said made sense. The game is rigged.
The common man see's the price of a train ticket going up and the service getting worse and then he see's a news story about train drivers wages going up while his stay the same or go down. So not weird that he'd be angry at you really. What he doesnt see is the years of under investment and asset striping by private companies. Most people don't have the time to go looking for the real story. They're too busy working and/or looking after their kids. ' A lie can make it's way around the world before the truth even has its boots on' - Terry Pratchett
Just see how long it takes for no work till you are Poor Most are Poor and Lose it all in under 3 Years House or Otherwise yes people need better Pay and Less work Hours
@@wondergra And the rich bought out all the journalists so we're just left with misinformaiton warfare.
From across the pond here in the U.S., we will join you. I hope the younger generations band together like no other generation has seen. Thanks for the honesty. 🤘
No one can even say things like this in the US or you'll be called a communist. I'm glad to see leftist thought is still allowed in the UK, but it is not here in the US. People like Bernie and "The Squad" are just trying to fight for basic services and still get met with "communist" rhetoric. Much less talking about restoring equality in society which will take a war on wealth that simply will not be allowed.
In the gold rush, the majority of the people who really made money were those selling picks and shovels, not those doing the digging. With trading, it's the platforms and the 'gurus', not those doing the digging.
Here is the thing, I come from a poor background - very poor, with my parents being alcoholics and and and, you get the picture. I stepped back and looked at my life when I was still in school and decided, knowledge will set me free - I took up educational books that was out of my knowledge skills and drilled them into my mind and finally understood what was going on. I applied that to my life from that point on and I got smarter along the way, even then I could not go to university because we were poor. I just smiled and kept going, working in a warehouse packing 50kg bags for years, but still hitting those books, gaining degrees that even university students can't get. I eventually outsmarted a lot of people and have a decent job making enough money to support my family, but here is the thing.... even with the amount of knowledge I have and I push hard to be better no-one gives me the slightest bit of attention because I come from a poor background.
Life is super stupid in that way. I really hope my kids will do better.
Giving investing advice you'd also run the risk of leading a bunch of viewers to bet on the system failing and actually causing the problem to get worse! Thanks Gary, keep up the good work
I’m half way through this guys book now. It’s absolutely mind blowing and I honestly can’t put it down, I’m either lol’ing or just silent is disbelief at how it all operates. Plus watching these videos you realise he’s such a nice, humble fella. Well done.
Have a rich dad. I wondered how you were going to answer this question Gary. (I have no desire to become rich btw)
This response was brilliant. Well done for sticking to your principals. Let’s change the rules together: thanks Gary.
I don't particularly want to be rich, but I would like to have a secure home. I am sick and fucking tired of bouncing from one improvised temporary rental housing fix to another similarly insecure solution. And each time they're much larger than I actually need or want, or they don't have the two things I do want: My own shower and the ability to cook a meal. (Just a hotplate and tiny fridge is enough, though an actual kitchen would be great.) I don't even mind that rent is high, I mind that it takes forever to find something you don't want for more money than it's worth, far away from all your friends. The lack of available housing strains social bonds by putting people farther and farther from their social network.
@@ciararespect4296 that’s really not very funny is it?
Try to get Rich With No Parents Help then you see if you Deserve More or Any From your Dad the Easy thing is getting Help From him without showing you deserve it.
There is something I sense with your voice when you speak. It’s like when you meet the person who helps you pick up the groceries from a broken shopping bag. It’s done with kindness and empathy, asking nothing in return. Thank you for speaking up and the advice to young people to stop worry and concentrate on quality of life by getting closer together. Powerful thoughts
Such an important video, Gary. Thank you so much. As you explain: the idea of climbing up out of our social class has been deliberately fabricated by the wealthy; instead we need to pull together, to pull our whole class up.❤
Exactly ❤
Just found you and your videos Gary, your content is spot on and totally agree with your standpoint on the rich poor divide.
I am a millennial who managed to buy myself a good sized house in a great neighborhood. I’m not saying this to brag, I just want to add my experience to Gary’s points.
I got myself on the property ladder without crypto, forex or any other financial instrument. I learnt a trade, worked every hour under the sun, then became self employed and made a name for myself as the go to person for my trade. Being passionate about what you do and as good as possible at what you do is in my view most peoples best chance at becoming financially comfortable, not a billionaire
More people need to hear this in the UK
Thanks man, I needed to hear this. I’m 24, a civil servant and struggling to move out of my parents’. Lots of people my age seem to make way more than I do and it gets me down a lot
I’ve been feeling like a failure it’s my 38rh birthday today and I have been down and negative all day but after listening to my eyes are wide open. Thank you so much I needed to hear this!🙏🏽
Why you negative, just follow what rich people do. They don't go out, they shop at Aldi and they don't go around flashing cash.
@@undesignated3491 Not true. How many rich people do you know? The ecological footprint is proportional to the amount of money you possess. Meaning that the richer you are, the more and the more expensive/ resource-intense products you consume.
I very much enjoy the profound comments, and Gary’s heartwarming messages about working together, as a teacher myself, I think of it more like a gardening job, watching the plants grow every day and being enthusiastic about it
When I first looked into personal trading out of frustration in not being able to make money, my Dad made basically the same point a different way. He pointed out the simple fact that even if you make the right choices & everything gains instead of loses (& losing is obviously a strong possibility), unless you start with very large amounts of cash, any gains you'll make will be insignificant. Another way of saying it only works if you're rich already. It only works if after you've paid your living expenses, you have a lot of excess money left over to play with. Obvious really, but a very easy point to miss when you're driven by the desire to make more money.
Those with excess money I call "the investor class". I think it's more apt & descriptive than the 1% & it has a long tail too, so captures a lot of people on the lower end of the wealth spectrum, through aspirational thinking, into sticking with the status quo. One of the additional reasons I believe it's so hard for politics to move into more progressive areas, so all the more power to people like you (& my Dad!) for trying to do the right thing by everyone, rather than just voting for favourable tax rates & keeping the assets bubbles going. Loved the book & bought a copy for my brother, who introduced my to your channel. Keep up the good work Gary!
I hope that people realize that everything that you are saying applies globally. It’s not just the UK or Europe or the United States or Canada or any high GDP country, it’s every one. The wealthiest people set up the economic and political systems to best suit themselves and they don’t do that as individuals but collectively. The only way for the ordinary people to counteract that is to act collectively.
And a reminder also that it’s very very unlikely for everyone to win the lottery and get rich, but it’s very very possible to get comfortably well off through good government policies that prioritize expanding the middle class and reducing poverty.
So I saw an interview you had with some journalist which recommended your book. I bought it on audible, and listened to it with great interest. Glad you beat Citibank. Anyway, I was telling my work colleague about it, and I said the book was called the Trading Game, and he immediately showed me a text from another mate who had recommended it. Now that’s what I call alignment, synchronicity or whatever. Keep it going Gary.
Respect to you for having a buttload of money but still staying true to your roots. Your kitchen looks just like mine and I appreciate that.
This guy seems to be one of the most sane I have seen online. I am sad that he gets so little views in comparison to "get rich quick" youtubers.
I do not agree that you have to accept that if you are not rich you give up on financial success. I think that if you try to achieve financial success by actually doing something exceptional and enjoy the process, you will start value self development and money might come naturally. It slightly resonates with noble prize idea in my opinion.
People want instant gratification and the title of this video pulled them in.
Just finished your book. Thank you for sharing. I came away thinking I just don’t have the metal fortitude to do what you did to “get rich”.
Very honest
We are glad you exited the system for the greater good but you were poor and now are rich. It's possible to break the barriers but not many succeed.
He is genetically gifted with iq
Thank you so much for speaking up mate, we can only achieve this together, please keep up the good work.
I'm about 75% of the way through your book, it's not bad!
I’m hoping it will come out on payback soon as I struggle to read hardbacks! It’s definitely my intention though and I’m looking forward to it.
@@juliewake4585 I heard it on audible start to finish and absolutely loved it to bits
Excellent talk - thank you. When you realize the game is rigged, then you can begin to appreciate all the truly valuable things in life- family, children, nature, the sea, sunsets, growing your own food and herbs, walks, fresh air- in other words, everything but money.
I can see Gary is completely emotionless about money.
That's why he had done extremely well.
He was very emotional in his early life, the book goes into good detail on this. I guess when your job becomes money, the emotion comes out of the equation. But he wouldn’t be doing what he’s doing if he wasn’t passionate about ensuring the rest of society has money in the future
@@WilliamAhlertwhen you have a lot of money you don’t have to worry about it. Plus traders are natural gamblers, a hell of a lot of them actually don’t make money with all the resources at their disposal. There’s been studies where they found it most of the traders do no better than random chance.
@@davideyres955 And the whole 75% of traders lose money. There's traders and there's professional traders, and there's professional traders who last, aye. That's true. You get emotional about it it can screw you up
Such a good clear message - thank you. Fighting the story that richness and access to consumer goods are the most important markers of success is vital. Its also vital to build another story in its place - a story that values connection, sufficiency, autonomy and community resiliance. And supporting that by working to change the system that favours those who benefit from keeping everyone focused on individualism is such good work.
The home I purchased in 2023 has appreciated by $60,000 since my acquisition. However, the downside is the diminishing value of the dollar. I am currently contemplating strategies to reinvest $300,000 in the real estate market.
Portfolio diversification is encouraged in the investment plane. If I were to suggest I'd say you need to get a financial expert to assist you with the best options.
Right. Likewise myself, I started delegating my day-to-day investing to a CFP ever since suffering a major steep-down late 2020, amid rona-pandemic, and as of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments.
Wonderful!!! I've recently sold property and aim to invest in stocks, seeking guidance. How can I reach out to them?
I just googled Kristin and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
fark portfolio/retrirement nuffies just sound like robots
The most sense I’ve heard in 20 years, let’s hope the young can overcome the legacy media brainwashing and change things before it’s too late 🤞🏻👌🏻
I know! Eat dry bread with fake butter on, and drink only tap water, and save all the money you earn, also do not buy things you don't need. I know, because I've seen others on youtube to it, and it works! Now I'm rich!
Well said. Brutally down to earth.
Recently bought some recommended stocks and now they are just penny stocks. There seems to be more negative portfolios in the last 3rd half of 2023 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?
Just "buy the dip". In the long term it will payoff. High interest rates usually mean lower stock prices, however investors should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder
The truth is that this is really not as difficult as many people presume it to be. It requires a certain level of diligence, no doubt, which is something ordinary investors lack, and so a financial advisor often comes in very handy. My friend just pulled in more than $84k last month alone from his investment with his advisor. That is how people are able to make such huge profits in the market
nice! once you hit a big milestone, the next comes easier.. who is your advisor please, if you don't mind me asking?
she's mostly on Telegrams, using the verified user name.
@PhiaElaine 👈🏽. That's her verified Handle!
Fantastic insights and a welcome change hearing a young economist speak.
I am 60 and you are absolutely correct, though I do not know what constitutes rich these days, I say to my daughter if you set out to be rich in anything you will likely fail as your motivation is too narrow. Aim to be successful at something aiming for excellence in that field, and be patient.
Very few people from a poor background who set out solely to be rich succeed ( you can have moments when you feel that way ). Luck plays its part, but the success part is usually incremental which is where a level of patience is required
It's how you define rich ( in life ) really, it's not all about having tons of money.
He's absolutely right. A big problem also, is there are genuinely people who believe those richer than them are always more qualified, more intelligent, and better character person.
This is the most refreshing, transparent, and insightful answer to "How do I get rich?" Thank you Gary. Good on you. What an incredible story.
Currently 50% through your book! From someone who started trading just over 12 months ago I’m finding it so interesting and relatable. Not to the fancy brokers lunch’s or huge sums of money but the terminology and likeminded confusion with how it works. Every time I hear a new nickname relating to the shape of someone’s head i have a chuckle 🤣. Keep fighting the fight Gary 💪🏼👏🏼
I just turned 42 and I have 2 brothers that are 52 and 53. Both of them were born in an era when houses cost roughly 3 times the annual salary, you only needed a 5% deposit to get a mortgage and interest rates were low. They both got on the housing ladder early. One became a landlord and is also a relatively successful movie script writer/director. The other worked in the church but did property development on the side. They now both have quite a bit of wealth. By the time I was in the right position to buy, the 2008 financial crisis happened, and owning a property has been out of reach since. I am a bit lucky in that my parents own a 3 bedroom semi in Surrey and my Dad has investments that I will one day inherit, but he's not willing to give me any inheritance early, so I am basically stuck paying rent and fending for myself until both my parents die. I know I'm not alone, and I am far from the worse case scenario, but it just goes to show how luck, and when (and where) you're born has a huge bearing on how well you can do in life. There will always be exceptions, like Gary, but that will not be the case for the majority.
Plenty of people I know are still buying houses at 25 years old right now. It's not impossible.
@@williamb.6813 what percentage of buyers have no help from their parents?
@@mdhazeldine None of the people I know. And that's not something I would even be contemplating at 42..
@@mdhazeldine I have no help from my parents nor do I have the mindset of "surviving" until my parents can save me.
@@mdhazeldine Fending for yourself is a normal thing adults do. Fyi
What’s with all the spammers? - don’t believe the scammers in the comments saying they are using a financial advisor. Why can’t the algorithm find these scammy comments and delete them.
wealth can be robbed
but dignity is willingly surrendered
Thanks Gary, I really needed to see this video today - wont be as hard on myself, will ease off…
Mate this video made me feel so much better as well about my situation. You’re doing great mate - keep it up 👍🔥
Yes! Be kind to yourself, the world is harsh as it is. Take care xx
You should be hard on yourself if you want to progress. If you go easy the world won’t come to you, you have to go out and get it.
No amount of tax is going to give you what you want. If you want a house, car etc put the time in. You may still not make it but if you don’t try you defiantly won’t.
@@davideyres955 It's different if you have a thumb pushing down your prospects.
Taxing the rich and reducing wealth inequality WILL make it easier to buy a house, because it will make prices come down. The rich will need to sell off their assets to pay the taxes if they taxes are agressive enough.
@@davideyres955 You'll notice also, our economy is built so that if you don't work bloody hard, you die. So your advice is kind of null and void, really isn't it?
The point is not just about being rich. Most of us would be happy to have enough to get the basic things in life.
Loved your book Gary. Now passed it on to my granddaughter who has just been offered a job with a leading venture capitalist. Her first job after getting very high grades at school and University. Am sure she will learn from reading about your experiences. Cheers and good luck Keith
Bang on. I feel that the question "How can I be rich?" Is the wrong question. The real question is how do we enrich our lives without the need to be rich. And the answer to that question is by building communities that can support each other.
Agreed. The more water, food, and housing you can get by working together with other people, the less dependent you are on the economy. So join a housing coop, join a farming coop, etc. etc. etc. It isn't easy, but the less susceptible you are to money, the safer you are from the rich. Of course, don't build something of too much value or they will come take it away by force.
Thanks Gary, I’m sharing this with friends and family, especially our children. The message at the end is everything.
I keep saying to my friends that their kids are screwed, they don't seem to care(they all live at home still in their 20s and or are saddled with massive debt via loans and mortgages). They can't understand why I'm bothered, so I have given up. Bizarre!
You get rich by working together... this is exactly why Western Society is being trounced by Indian and Chinese families... they pool resources as a family to buy assets and recycle it around. Us white people operate in silos. Its a huge thing to try and change... I applaud you and my gosh I'd love to help be responsible for that change too
so, nepotism? that's corruption he is speaking about
I do admire the success in the elite Indian families because it trounces and subverts the barriers in the class system.
It shows how important sovereignty and a power base through a nation state is.
There is so much gaslighting that happens to the poor. Thank you for speaking truth to power and trying to do something about it. Wish you could help us out in the catastrophe that is the United States