I don’t give family money because they only call me when they want something. Won’t get a call from any of them for years until one of them either needs money or if someone dies. It’s crazy.
@kiaramarshall08 omg! I can't believe you told them that! And i am glad you did! because I didn't want to be the only person to have told my family that lol. Glad I am not alone in this
I have had a chronic problem with family members asking for money. On one hand I am a generous person, and I don't want to see anyone, especially family, going hungry or out in the street. But by the same token, we need to set the appropriate boundaries; that is, we need to inform them that, even thought we might be doing well financially, there are student loans, taxes, etc that go along with that. Moreover, alot of people I have helped no longer even talk to me, much less pay the $ back!
I’ve gotten to the point where I don’t even want to explain to them why I said no, I just say no. Now you see what they wanted you around for so, good riddance, maybe they’ll get it together someday
With family what I did recently: a person wanted to borrow 1k. So what I did was give with with u never ask me again clause. They agreed. U may say what if they come back. Not my problem. And if they have the nerve to come back , I want two mos bank statements. 2 mos pay cks. And their budget. This time I will do some auditing. Bet they won’t.
Family members who are not disciplined with their finances/or won't change spending habits to benefit themselves, should not expect financial help from anyone.
Your businesses will make you rich but your investments will make you wealthy. We all deserve to be rich and have financial freedom. I pray everyone here becomes extremely successful.
Some family members can't stand to see the other with anything. I don't tell them any of my business. Let's also mention when they start guilt tripping you.
People are selfish in most cases. They don't care about what someone is willing to teach, but instead what someone will do for them. Good luck to everyone out here trying to teach. 😩
the worst kinda family is those who think they had something to do with your success thus they feel entitled to whatever they want from you. Never heard from them while I was struggling, broke, living hand-to-mouth all throughout college and those first few jobs out of school.
Oh they know they had nothing to do with your success. They think that just because you have money, and they have money problems, you should save them every single to they have the financial issues. And although they may say they will pay you back, they know they won't but saying "I'll pay you back" is part of their game
Unfortunately, my family has a false sense of entitlement which caused a divide and separation when I started building wealth. I always tried to include and encourage them when I started investing. As my wealth increased, jealousy followed. Attempts to Introduce them to my wealth manager fail on deaf ears. Not everyone can be saved. First and foremost my number one priority is to provide generational wealth to my wife and twins.
All facts!!!!! The saddest thing to see, is to see your family struggle, even AFTER you’ve told them many times about the things you’re doing to build wealth. And why you’re doing so well. But like you said it falls on 🙉 ears. After that all I can do is 🙌🏿 for them. That’s what I tell my wife.
I can relate my family thinks it all fell in my lap and that I'm the "LUCKY ONE" but is it luck when you grind from 4am to 6pm including weekends? No it's an overwhelming desperate feeling of I have to make it no matter what!
True. They want what's yours. You see through it when you try to enlighten them or bring them along with you. My sibling got an 11k tax refund. I strongly advised her to put it in a cd with me and her dividend share would pay her monthly phone and internet thus eliminating two bills . She ignored me. Four months later I get a call-can you pay my storage? I'm behind. 11k gone already? I got it. It went to the gambling pool. NO dear. You failed to save and invest. I told you so and like always you REFUSED to listen. You also know I have it and you will create a need for it to be spent (consumed) by sabotaging yourself and getting energy by involving me. I don't have that mindset anymore. I worked my a$$ off to get rid of poverty mind set and then reprogram myself and then work two jobs for 10 years. My family could only reach me by email. I refused to get on the phone as they would try to evoke some memory from childhood for sympathy and THEN-can you let me have $$$? The email boundary worked as they love to talk and they know what they say is in writing. Aka admissible in court. I don't have that compassion for these ninjas anymore.
I've always wanted to take care of my family. When Noone cared I did. But with my own goals or dreams they don't care. So I'm trying to do things alone from 0. All while having 2 kids, no home, and a job. The more money I make quick as it's gone by request of my kids moms or family. Won't even let you sleep in a corner . This is why I've pulled out
@@isabellopes890 agreed but hard to do when your alone and the women have the kids....and they have had them for years with no compromise other than for themselves which they embellish on the idea of it's about the kids but make no way for you to see them but it's really about money. I make a way with what I have going on. But thank you
Interesting topic. I've learned not to discuss money with family, because folks start to get jealous comparing what you have to what they have. It's nice to be able to help family out, if they get in a jam. But, it's not really our job to do that for them. They should be doing the same thing we are doing, building an emergency fund and investing. Family will watch all the sacrifice and have their hand out for some free money based on a sense of entitlement. I think we should keep finance details to ourselves, but we can give general advice how they can build their OWN wealth, if that's what they want to do. Some people are just not on the same page and willing to make sacrifices. They will be on social media showing off brand new this and that while we're building wealth. Great topic.
I bought a house in November now family thinks I have extra money to give or loan. People I don’t even talk to often asking for $120 I loaned and didn’t get paid back ask for 3,500$ a month later!! Smh wow
The greatest regret is not trying and failing but it is not to trying at allFunny enough people aspire to emulate great investors and entrepreneurs, of our time but they only see their wins and achievements and they careless about their challenges and failures during multiple trials and the lesson it teaches
I wouldn't agree less but a times we are influenced based on result of what will see and experience, failure at first try doesn't mean it is over but unfortunately people seems to back off when they have experiences some obstacle or failure along the way
You have to recognize you need an expert that understands how to read the market so you can avoid winning today and losing tomorrow. There's reason why experts like Mrs Blossom wins all the time,I was a bit skeptical but she Kept encouraging me to invest and it turn out very successful
Family can be the ones to be your downfall. Your parents, siblings,,cousins and your own children. I put boundaries on what I do for anybody. I don't loan money out if I know they won't pay it back. I give to them when I know they can't pay it back and won't bother me any cause I didn't expect it back from them. I set in my heart how much I give and whether or not I do it or not won't care how they feel about it. I learned it ok to say no some times
Helping family out will keep you from succeeding financially. And funny thing is that if you come across financial issues, the same family members who you gave money to won't have a Dime to offer you
Exactly, I'm going thru the same family and friend keep coming for more as if they have entitlement...some don't even appreciate...I have learned to say " I don't have " ...but guess what some get angry and stop talking to me completely as if I'm a bad person.... I would feel sad sometimes 😞 😔 😕 😪
@@cynthianhlapo6431 if they stop talking to you that's a plus. And now you know to keep them out of your life because you're nothing more than an ATM to them. If you were in financial trouble and on the brink of being homeless, none of them would help you. You have to keep people like this out of your life, even if they have the same blood. I did 20 years ago, and those same bum relatives are still bumming like blood sucking leeches off Of other family members who didn't learn. I have a cousin who won a cash settlement out of court and she's almost broke because she used a lot of the money to get some family members out of jail, and pay other family members living expenses because they don't want to work. Leave the bum family members alone. Like th sink or swim. It's time for them to act like adults
Some will never accept your plan for yourself if they can't benefit. The table needs things brought to it. You can't take from a empty table. (family-friend)
2:20.. the same.. they don’t see that .. they want you to pour before the cup full to the point they don’t want you to do anything for yourself because you should do it for them….
Boundaries are essential. On both sides. Be on the lookout for family and friends who unconsciously sabotage our efforts to get ahead. Give them a wide berth until you are in a position of strength and can help them help themselves.
Unfortunately some people do not have picture perfect families that communicate and support, It's usually the other way around hey let's talk negative about each other and not invite certain individuals to gatherings oh and let's not forget funerals.
Very good video man. Giving family members handouts will not improve their situation long term it is like giving a drunk a drink allways try to help them fix the root of their financial problems and not just throw money at it because you feel guilty. That mindset if someone in the family makes good money he has to take care of everyone is the killer of building generational wealth.
I came to the U.S more than 20 years ago from a third world country. My first job was in a car wash. I worked hard, applied for my residency/citizenship, went to school to learn English, got my GED, worked cleaning houses, LMT, CNA, and eventually I was able to graduate from Nursing School at 43 years old. During all those years I never heard from my family members. As soon as a got a job as a nurse they started asking for money every f*** month! My brother asked me for 5,000 dollars (which I gave it to him) to pay off debt. His son will ask me for money every two weeks!!!! I heped them probably with about 9 or 10 thousand dollars total, and yet because I didn't want to give them any more money they ended up cursing me out, and whish d*ath upon me. Now I have learned the lesson, I don't give nobody any money. (Sorry for my English and my grammar, still learning).
I too am tired of giving money to family members who I’ve raised and now that they’re all grown up no phone calls no visits but every time they need money they text me I Love my family but I am struggling and they have no clue how I’m feeling.
Ask them . Say you’re a in need now. I’ve ask a family member and a friend, the money back. Although it was almost nothing, I needed. The reason is because of I don’t have a dime, nobody gives it to me. Don’t mind what they think. And if they don’t mind pay you back. Next time they ask for money, tell them you done have and you were waiting for them to pay you back.
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Yes I've had the same situation with certain family and a friend, I had to learn to tell them I don't lend money because it cause misunderstanding and problems, family and friends are not people to lend or do business with, I learned that the hard way.
It’s sad when you have worked so hard and sacrificed so much only to have family be envious of you when you start achieving your goals and make those thoughts things. They’ve watched you hustle and bustle and never lent a hand, but now that you are becoming successful in what you’ve been committed to, now they want you to help them.
Importantly, we all need to set boundaries and those boundaries are important. Let family know you are there to help if necessary, but you are not their bank and they too can step up ,if they do choose. We can all learn financial literacy. Bless up.
My brother was out of a job for three years while using one of my spending accounts 35k later and helping him get a job that he got fired from he is now working and doing quite well but after all the help he insosts he owes me nothing that he agreed to pay back. He has current responsibilities. I wish I had the wisdom as you mentioned on when to be generous that I do now.
real talk. How the frick those family members have money to be paying witch doctors to be doing fucked up shit to someone else's life and yet don't have money to pay there house bills at home.
Unfortunately, my family feels when it comes to paying me back, I don't need my money back. To be clear, I am not rich. I get up every morning and go to work. I have no debt and I am saving for retirement. I made the mistake of bailing them out a few times and never expecting nor receiving repayment. Yet one by one they have all managed to burn that bridge and I now love them from a distance. I told them all, you have messed up your money, now you want to mess up mine. And that's not happening anymore! Telling them no wasn't as hard as I thought it would be. I stuck to my guns and reminded them of the money they never even thought of paying me back, as if the money they owed me, wasn't important. They all got the message and haven't asked for money in a few years. Nor has one bothered to pay me back. But at least we get along quite fine now.
This is a great video and topic. Thank you Richard. Spreading the financial knowledge is key to helping your family members. I think just giving money is enabling! It's tough but the best thing to do
But i really need to explain all these? I think i just have to say NO where necessary without expecting them to believe or not. When u explain that is where they feel entitled to your money even when they r not.
I’m 20 years old and I can not take any of those necessary steps. They are extremely envious of me and gossip about me whenever the get the chance to. I’m a junior in college, I have a great opportunity post grad and they have all turned their backs on me. I would love to share my knowledge with them, but it’s a waste. I fear my own life due to the things they are affiliated with so I plan on moving out of my home state if God wills. I currently attend college 30 minutes away but I want to be further. My family are very low income and only a few have made it. I hope that over time our relationships can grow, but I am not going to force it. Peace and love
So often when it comes to money, our family doesn't want to listen when we're coming up. yet when we arrive at certain goals, all of a sudden they're interested... but often interested in getting somethign for nothing. They didn't want our help to build "their own" financial ship, they just want to watch and see if we succeed and then put out a hand. It's not malicious, just human nature.
I ain’t gon lie I’m tired of giving my parents money. They were young, childless, had opportunities at one point it’s their fault they didn’t work hard enough to make sure they were financially stable. I told them I was disappointed in them because they put me in position where I’m forced to support them. I love them but I’m beginning to hate them because now I’m stuck putting my life on hold for them. My tells me I’m more than welcome to leave, but how can I leave with no money saved? She keeps telling me I need to get priorities straight because what I do with MY MONEY. If I were put priorities straight forreal and stopped paying bills then it would be a problem. It’s crazy how parents try to flip it on to you, like it’s your fault for being in that situation instead of admitting that they fucked up in life and they need to deal with their own problems. I don’t wanna see them suffer but I’m really finna stop giving in to them because I’m finna waste my 20s catering to their mistakes. We all know one day we’re gonna get sick and die and leave the world behind. There’s really no excuse on why you’re not financially stable, you just didn’t care and thought it can be done later until later never came
Hey Fain I try teaching my family what I know about wealth and I guess it sound like I was talking womp womp with them. Nobody is willing to listen so I'm going to have to love mine from a distance. If later they want to listen then they have to read half of what I read for me to even consider me showing them anything.
Very informative, thanks Richard. But have to say, it was really difficult to listen to what you were saying coz of the noise. Please don’t record this way, unless you just parked somewhere and not driving. I managed to listen to the whole video but was very noisy had to lower my headphones to minimum and was struggling to listen to each word. Otherwise, I appreciate this and got value from it💚
Oh man, I was taken for a fool during the pandemic by a guy I thought was a friend. Took me for thousands, I gave willingly, not expecting a return and then turned on me , trashed me and destroyed my reputation. I've gone no-contact forever. Money - keep away from situations or conversations where people may ask for money. Never ever lend money with the expectation of getting it back. I never expected to get my 15k back but I didn't expect to be dumped and trashed when the person no longer needed my help. No resolution possible. Had To cut the guy out of my life. Now I spend/save my money as I wish. No freeloaders need apply?! 😂😂😂😂😂
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Are you a mind reader Mr Richard Fain, my family has been doing this to me lately. Im the only one in my family that has financial common sense, even though Im guilty of overspending at times and being cheap and frugal, they sometimes find themselves in a pickle and ask me for money lol.
I flew back home in August. I spent 1k in less than 10 days. That’s more than I spend a month where I live now! They are stuck in the rat race and refuse to get out of the city! I was going to visit again for the holidays but no way. I rather save my money. It’s insanity.
I have a brother in law who keeps asking me for money. I just keep saying i don't have it to give to him. I had lent him money and in fairness he did give it back but im just sick of him asking me for money. Im not an atm.
A lot of them don’t want to learn, they just want you to give to them… and then some of them will look at you like you think you’re better than them because you have more money… others will even go as far as trying to scr3ww you over in some way, shape, or form…
I had a gf back in 1980. We were 20. She told me her mom was a financial genius. I had no reason to doubt her. I noticed her family went out to eat a lot. I noticed she bought $40. Lotto tickets every week. Fast forward 43yrs and a marriage and a baby and a divorce. I asked my daughter how is grandma doing? She said grandma is 89 and completely broke. I was so shocked. Then I did some math in my head. They spent Roughly $200k on restaurants and $80k on lotto tickets. My guess is she could really use that money now.
Are you sure that this wasn’t occurring over the course of her life ? or is this something new in her behavior? Aging mind can present many ways, but sometimes ppl just aren’t good with money. It’s hard to move parents once they’ve settled but NOW more than ever the hard conversations need to be had… because of her aging, the current economic environment, and your own life goals. She, like others, will have to meet you in the middle, otherwise you will need to let them know the limits of your help. My mom also has this issue, albeit she’s younger. Title loaned my grandmother’s vehicle when my gma was suffering dementia…for all intents and purposes, elder abuse. I had to cut $500 out of my paycheck when i had rent due, to pay to save my gma’s already paid off car. just dumb af, and I was mad that she would take such a risk. I wouldve loaned the money to prevent that type of scenario which was an emergency bc no one at my gma’s house had a car at the time. May my gma RIP
@@TuscanWonder Definitely something that has been happening but getting worse now that she's older. But there is no way I can just love her from a far.
This is something I struggled with with my own mom who is two years older than yours. She wasn't encouraged to manage her money by my father who took care of everything regarding the home. She could spend her money the way she pleased. Long story short she blew through all the money he left her. And despite her siblings and my brother and I trying show her how to be a better steward, she's not really listening. After much prayer and stress, the Lord brought me to these two scriptures Deuteronomy 5:16 (NKJV) "Honor your father and your mother, as the Lord has commanded you, that your days may be long, and that it may be well with you in the land which the Lord your God is giving you." And Ecclesiastes 6:9 (GNT) "It is useless; it is like chasing the wind. It is better to be satisfied with what you have than to be always wanting something else." I realized although she wants more, she's not willing to change and me and my brother are not able/willing to fund the lifestyle she desires. BUT we make sure some of her expenses are covered like food, shelter, taxes, vehicle maintenance when needed. My brother added her to his cell plan. We don't give her money to buy lottery tickets. We take her to her medical appointments. These are ways you can honor her without missing YOUR blessing. If she's not willing to change, I suggest having a "Mom" account where you deposit some money. Whether you tell her about it or not is up to you, but this is money when she needs assistance you have it set aside to help her without it blowing your budget. And know sometimes it's okay to say "no" to our parents. That did it to us growing up. 😊 Just make sure, as you're able, that her essentials are covered. I pray something in this reply helps you. 👃
@@AuntiePerspective wow amazing thank you so much this really blessed me as I just lost my father a few weeks ago which has made her financial situation worse without his social security coming in. I also like the idea about a mom account which I need to think 🤔 on a little more how me and my brother can make that work. I'm helping out as best I can with the basics light bills, food and car payment. I really appreciate the scriptures and feel really blessed by your reply thank you and God bless.
@@chucks430 I'm sorry to hear about your father. I know how hard it is. Encourage her not to make any major financial decisions right now. Everything is too raw. From what I've learned from financial experts the recommended time to wait is about 6 months. Praying for you all.
I take responsibility for my own finances and I expect everyone else to do it too. That's why I have a no lending people money rule. I happily give my advice but no money. You simply can't trust people to pay you back.
Ain’t really no financial education to give! Save what you can have a side hustle if needed and grow. Simple as that! I dont think it’s about financial education it’s just about self control and self perseverance. A lot of people don’t want to do that. That it!!!
If you watching this, invest in the company you see on his left side. If yall miss it, he passed 4 amazon trucks, and im not mistaken those were rivian ev vans. I am extremely invested in amazon, google, apple, AMD, block(square), tesla, and now rivian because of the amazon backing.
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keeping it 100! as always! I can't stand coattail riders. they could make the same money moves YOU do! don't wait til I succeed, and hold out your hand for money!
I am a Bangladeshi, I have 8 people in my family, I am sick, 3 of them are sick, I have no parents, I am from Dubai, so I earn by myself, so my family does not survive. I care deeply, so I want help to save my family
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🧐 🤔 GOOD JOB, RICH !! 🙌 👏 ..THIS IS ALWAYS SUCH TOUGH ACT TO PULL OFF. …SO GLAD TO SEE THAT YOU WERE ABLE TO ESTABLISH THIS UNDERSTANDING (ESPECIALLY BEING SO NEW INTO MONEY AND AT THAT YOUNG AGE).
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I make sure to pass on everything I learn to family members. As I build wealth, I want them to be building wealth also. I want to be surrounded by people who are consciously working to build wealth. By following this philosophy, you can limit money issues with family members.
It's not easy to share things with family when many don't want to see you succeed and some think you crazy just by thinking your ideas to wealth will work until they see you actually have and it's then when you know who is the ones you can trust with knowledge and who you can't cause even parents don't want to see you succeed when they didn't or don't want you to achieve higher than them. Then they instill that same mentality in your siblings. I share with anyone who wants to learn and those in need of help and want the help whether it could be family or not. The ones who really need it may not be a family member and would be very thankful for helping them out of their situation.
I don’t give family money because they only call me when they want something. Won’t get a call from any of them for years until one of them either needs money or if someone dies. It’s crazy.
Same
This sounds right
Same. But today I set boundaries. For the first time I feel peace and began thinking about me and my needs , save more, etc..
Same. I told em leave me alone and do better in life with their money. If they get mad oh well
@kiaramarshall08 omg! I can't believe you told them that!
And i am glad you did! because I didn't want to be the only person to have told my family that lol. Glad I am not alone in this
I have had a chronic problem with family members asking for money. On one hand I am a generous person, and I don't want to see anyone, especially family, going hungry or out in the street. But by the same token, we need to set the appropriate boundaries; that is, we need to inform them that, even thought we might be doing well financially, there are student loans, taxes, etc that go along with that. Moreover, alot of people I have helped no longer even talk to me, much less pay the $ back!
Same here. It’s hard
I’ve gotten to the point where I don’t even want to explain to them why I said no, I just say no. Now you see what they wanted you around for so, good riddance, maybe they’ll get it together someday
@@lifegoeson1007 I don’t blame you!
@@lifegoeson1007more power to you bro.
With family what I did recently: a person wanted to borrow 1k. So what I did was give with with u never ask me again clause. They agreed. U may say what if they come back.
Not my problem.
And if they have the nerve to come back , I want two mos bank statements. 2 mos pay cks. And their budget. This time I will do some auditing. Bet they won’t.
Family members who are not disciplined with their finances/or won't change spending habits to benefit themselves, should not expect financial help from anyone.
Agreeeeeeedddddddd!!!!!
Every family has that one person who will break the family financial struggles, I hope you become the one 🙏
Your businesses will make you rich but your investments will make you wealthy. We all deserve to be rich and have financial freedom. I pray everyone here becomes extremely successful.
You're right, the importance of multiple streams of income, unfortunately having a job doesn't mean financial freedom or security.
Speaking of been successful. I know I'm blessed if not I wouldn't have met someone spectacular as Anna s Wilson.
@wilson Adams Face book👇👇
@wilson Adams Anna s Wilson
Some family members can't stand to see the other with anything. I don't tell them any of my business. Let's also mention when they start guilt tripping you.
I won't tell you. Don't say anything, even when they ask.
Family gets so jealous and competitive. It’s sad but I’ve found that it’s best to just avoid most of them
Hit me up right away 👆
So true!
so true
It’s sad and it’s weird bruh ! Idk how family can be envious we suppose to be a team 🙇🏽♂️
Without any fault on your part, some will throw you under the bus but yet when they want something from you, they play nice to you.
People are selfish in most cases. They don't care about what someone is willing to teach, but instead what someone will do for them. Good luck to everyone out here trying to teach. 😩
can u teach me
Family and friends are the first ones to take advantage of you and screw you over.
my family is lazy, they dont want to use their brains to solve their problems.
Amen to all of this. Nothing wrong with being a giver but you have to use wisdom in your giving.
the worst kinda family is those who think they had something to do with your success thus they feel entitled to whatever they want from you. Never heard from them while I was struggling, broke, living hand-to-mouth all throughout college and those first few jobs out of school.
Oh they know they had nothing to do with your success. They think that just because you have money, and they have money problems, you should save them every single to they have the financial issues. And although they may say they will pay you back, they know they won't but saying "I'll pay you back" is part of their game
Unfortunately, my family has a false sense of entitlement which caused a divide and separation when I started building wealth. I always tried to include and encourage them when I started investing. As my wealth increased, jealousy followed. Attempts to Introduce them to my wealth manager fail on deaf ears. Not everyone can be saved. First and foremost my number one priority is to provide generational wealth to my wife and twins.
All facts!!!!! The saddest thing to see, is to see your family struggle, even AFTER you’ve told them many times about the things you’re doing to build wealth. And why you’re doing so well. But like you said it falls on 🙉 ears. After that all I can do is 🙌🏿 for them. That’s what I tell my wife.
I can relate my family thinks it all fell in my lap and that I'm the "LUCKY ONE" but is it luck when you grind from 4am to 6pm including weekends? No it's an overwhelming desperate feeling of I have to make it no matter what!
@@juandiaz-we8du Well said. I currently feel the same way. I can't afford to fail.
True. They want what's yours. You see through it when you try to enlighten them or bring them along with you.
My sibling got an 11k tax refund. I strongly advised her to put it in a cd with me and her dividend share would pay her monthly phone and internet thus eliminating two bills . She ignored me.
Four months later I get a call-can you pay my storage? I'm behind.
11k gone already?
I got it. It went to the gambling pool.
NO dear. You failed to save and invest. I told you so and like always you REFUSED to listen.
You also know I have it and you will create a need for it to be spent (consumed) by sabotaging yourself and getting energy by involving me.
I don't have that mindset anymore.
I worked my a$$ off to get rid of poverty mind set and then reprogram myself and then work two jobs for 10 years. My family could only reach me by email. I refused to get on the phone as they would try to evoke some memory from childhood for sympathy and THEN-can you let me have $$$?
The email boundary worked as they love to talk and they know what they say is in writing. Aka admissible in court.
I don't have that compassion for these ninjas anymore.
You are such a lovely, kind hearted , considerate man. God bless you brother.
I've always wanted to take care of my family. When Noone cared I did. But with my own goals or dreams they don't care. So I'm trying to do things alone from 0. All while having 2 kids, no home, and a job. The more money I make quick as it's gone by request of my kids moms or family. Won't even let you sleep in a corner . This is why I've pulled out
You’re kids are priorities. Focus on yourself.
@@isabellopes890 agreed but hard to do when your alone and the women have the kids....and they have had them for years with no compromise other than for themselves which they embellish on the idea of it's about the kids but make no way for you to see them but it's really about money. I make a way with what I have going on. But thank you
Interesting topic. I've learned not to discuss money with family, because folks start to get jealous comparing what you have to what they have. It's nice to be able to help family out, if they get in a jam. But, it's not really our job to do that for them. They should be doing the same thing we are doing, building an emergency fund and investing. Family will watch all the sacrifice and have their hand out for some free money based on a sense of entitlement. I think we should keep finance details to ourselves, but we can give general advice how they can build their OWN wealth, if that's what they want to do. Some people are just not on the same page and willing to make sacrifices. They will be on social media showing off brand new this and that while we're building wealth. Great topic.
Thanks~~~~
I am not loaning nobody money I do not care who you are to me.
Me giving my hard working Money out is over with them days is so over.
💯
Yes
Agreed
I bought a house in November now family thinks I have extra money to give or loan. People I don’t even talk to often asking for $120 I loaned and didn’t get paid back ask for 3,500$ a month later!! Smh wow
*MAYBE NOT TODAY BUT I'LL SURELY BE RICH ONE DAY✅*
Talking about being successful! I know am blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Blossom Jefferson
The greatest regret is not trying and failing but it is not to trying at allFunny enough people aspire to emulate great investors and entrepreneurs, of our time but they only see their wins
and achievements and they careless about their
challenges and failures during multiple trials and the
lesson it teaches
I wouldn't agree less but a times we are influenced based on result of what will see and experience, failure at first try doesn't mean it is over but unfortunately people seems to back off when they have experiences some obstacle or failure along the way
You have to recognize you need an expert that
understands how to read the market so you can avoid
winning today and losing tomorrow. There's reason why experts like Mrs Blossom wins all the time,I was a bit skeptical but she
Kept encouraging me to invest and it turn out very
successful
Who doesn't know Mrs blossom? It's been a year since i met her and I'm still making great profits under her guidance.
Family can be the ones to be your downfall. Your parents, siblings,,cousins and your own children.
I put boundaries on what I do for anybody. I don't loan money out if I know they won't pay it back. I give to them when I know they can't pay it back and won't bother me any cause I didn't expect it back from them.
I set in my heart how much I give and whether or not I do it or not won't care how they feel about it. I learned it ok to say no some times
Helping family out will keep you from succeeding financially. And funny thing is that if you come across financial issues, the same family members who you gave money to won't have a Dime to offer you
@@bullydakidd2023 Exactly! can you imagine being asked to borrow money again when I wasn't paid back the first time. What an insult!
Exactly, I'm going thru the same family and friend keep coming for more as if they have entitlement...some don't even appreciate...I have learned to say " I don't have " ...but guess what some get angry and stop talking to me completely as if I'm a bad person.... I would feel sad sometimes 😞 😔 😕 😪
@@cynthianhlapo6431 if they stop talking to you that's a plus. And now you know to keep them out of your life because you're nothing more than an ATM to them. If you were in financial trouble and on the brink of being homeless, none of them would help you. You have to keep people like this out of your life, even if they have the same blood.
I did 20 years ago, and those same bum relatives are still bumming like blood sucking leeches off Of other family members who didn't learn. I have a cousin who won a cash settlement out of court and she's almost broke because she used a lot of the money to get some family members out of jail, and pay other family members living expenses because they don't want to work.
Leave the bum family members alone. Like th sink or swim. It's time for them to act like adults
Some will never accept your plan for yourself if they can't benefit. The table needs things brought to it. You can't take from a empty table. (family-friend)
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2:20.. the same.. they don’t see that .. they want you to pour before the cup full to the point they don’t want you to do anything for yourself because you should do it for them….
Boundaries are essential. On both sides. Be on the lookout for family and friends who unconsciously sabotage our efforts to get ahead. Give them a wide berth until you are in a position of strength and can help them help themselves.
Unfortunately some people do not have picture perfect families that communicate and support, It's usually the other way around hey let's talk negative about each other and not invite certain individuals to gatherings oh and let's not forget funerals.
Very good video man. Giving family members handouts will not improve their situation long term it is like giving a drunk a drink allways try to help them fix the root of their financial problems and not just throw money at it because you feel guilty. That mindset if someone in the family makes good money he has to take care of everyone is the killer of building generational wealth.
I came to the U.S more than 20 years ago from a third world country. My first job was in a car wash. I worked hard, applied for my residency/citizenship, went to school to learn English, got my GED, worked cleaning houses, LMT, CNA, and eventually I was able to graduate from Nursing School at 43 years old. During all those years I never heard from my family members. As soon as a got a job as a nurse they started asking for money every f*** month! My brother asked me for 5,000 dollars (which I gave it to him) to pay off debt. His son will ask me for money every two weeks!!!! I heped them probably with about 9 or 10 thousand dollars total, and yet because I didn't want to give them any more money they ended up cursing me out, and whish d*ath upon me. Now I have learned the lesson, I don't give nobody any money. (Sorry for my English and my grammar, still learning).
I keep my mouth shut when someone ask Me about my Money money...money money...money money Almighty dollar
Great video Richard. It's natural to want to help family out but not at the expense of our financial future.
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I too am tired of giving money to family members who I’ve raised and now that they’re all grown up no phone calls no visits but every time they need money they text me I Love my family but I am struggling and they have no clue how I’m feeling.
Yeah, I have 3 family members that gotten money from me & haven't payed me back.
how much ?
Ask them . Say you’re a in need now. I’ve ask a family member and a friend, the money back. Although it was almost nothing, I needed. The reason is because of I don’t have a dime, nobody gives it to me. Don’t mind what they think. And if they don’t mind pay you back. Next time they ask for money, tell them you done have and you were waiting for them to pay you back.
This was a good message. It can be a sensitive subject but a good lesson. Thanks for posting!
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I agree!
Great topic Richard. Unfortunately money can destroy families forever especially among relatives and siblings when it comes to Wills or inheritances.
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Yes I've had the same situation with certain family and a friend, I had to learn to tell them I don't lend money because it cause misunderstanding and problems, family and friends are not people to lend or do business with, I learned that the hard way.
It’s hard for me though I’ve tried to build their wealth as well but unfortunately my family like immediate instant gratification.
It’s sad when you have worked so hard and sacrificed so much only to have family be envious of you when you start achieving your goals and make those thoughts things. They’ve watched you hustle and bustle and never lent a hand, but now that you are becoming successful in what you’ve been committed to, now they want you to help them.
Importantly, we all need to set boundaries and those boundaries are important. Let family know you are there to help if necessary, but you are not their bank and they too can step up ,if they do choose. We can all learn financial literacy. Bless up.
My brother was out of a job for three years while using one of my spending accounts 35k later and helping him get a job that he got fired from he is now working and doing quite well but after all the help he insosts he owes me nothing that he agreed to pay back. He has current responsibilities. I wish I had the wisdom as you mentioned on when to be generous that I do now.
He was out of a job for THREE YEARS???? How? Also, he says you are owed nothing? I'd leave him alone.
real talk. How the frick those family members have money to be paying witch doctors to be doing fucked up shit to someone else's life and yet don't have money to pay there house bills at home.
Great video. Yes it is important to set limits and boundaries. I have been burned by this but not dealing with it anymore.
Thanks~~~~
Unfortunately, my family feels when it comes to paying me back, I don't need my money back. To be clear, I am not rich. I get up every morning and go to work. I have no debt and I am saving for retirement. I made the mistake of bailing them out a few times and never expecting nor receiving repayment. Yet one by one they have all managed to burn that bridge and I now love them from a distance. I told them all, you have messed up your money, now you want to mess up mine. And that's not happening anymore! Telling them no wasn't as hard as I thought it would be. I stuck to my guns and reminded them of the money they never even thought of paying me back, as if the money they owed me, wasn't important. They all got the message and haven't asked for money in a few years. Nor has one bothered to pay me back. But at least we get along quite fine now.
how much have you given them ?
@@BRIANDER100 I don't know exactly. But its been thousands.
I love it! "You have messed up your money, now you want to mess up mine" Thanks!
Get along well? Really?They were showing they don’t have consideration for you.
Yes Sir, I agree 100%.
Hit me up right away 👆
Really good info. I've had problems with family n money 💰. It didn't work out well at all .
This is a great video and topic. Thank you Richard. Spreading the financial knowledge is key to helping your family members. I think just giving money is enabling! It's tough but the best thing to do
But i really need to explain all these? I think i just have to say NO where necessary without expecting them to believe or not. When u explain that is where they feel entitled to your money even when they r not.
I’m 20 years old and I can not take any of those necessary steps. They are extremely envious of me and gossip about me whenever the get the chance to. I’m a junior in college, I have a great opportunity post grad and they have all turned their backs on me. I would love to share my knowledge with them, but it’s a waste. I fear my own life due to the things they are affiliated with so I plan on moving out of my home state if God wills. I currently attend college 30 minutes away but I want to be further. My family are very low income and only a few have made it. I hope that over time our relationships can grow, but I am not going to force it. Peace and love
Great speech lots of gem 💎
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Facts! Real talk!
So often when it comes to money, our family doesn't want to listen when we're coming up. yet when we arrive at certain goals, all of a sudden they're interested... but often interested in getting somethign for nothing. They didn't want our help to build "their own" financial ship, they just want to watch and see if we succeed and then put out a hand. It's not malicious, just human nature.
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What family? Wife? Aunts? Cousins? Uncles? All assets are locked up. No cash. Conversation over. 😂
Thank you 🙏🏾
Not gonna lie I wanted u to get on the throttle a bit so I can hear it 🤣🤣 great video as well
I ain’t gon lie I’m tired of giving my parents money. They were young, childless, had opportunities at one point it’s their fault they didn’t work hard enough to make sure they were financially stable. I told them I was disappointed in them because they put me in position where I’m forced to support them. I love them but I’m beginning to hate them because now I’m stuck putting my life on hold for them. My tells me I’m more than welcome to leave, but how can I leave with no money saved? She keeps telling me I need to get priorities straight because what I do with MY MONEY. If I were put priorities straight forreal and stopped paying bills then it would be a problem. It’s crazy how parents try to flip it on to you, like it’s your fault for being in that situation instead of admitting that they fucked up in life and they need to deal with their own problems. I don’t wanna see them suffer but I’m really finna stop giving in to them because I’m finna waste my 20s catering to their mistakes. We all know one day we’re gonna get sick and die and leave the world behind. There’s really no excuse on why you’re not financially stable, you just didn’t care and thought it can be done later until later never came
Just came across your channel today and subscribed. Good content man.
When they say 'How am i going to afford this?' Then i cave and give them money, keeps happenung so i start to feel im bei g manipulated
Thanks for this topic
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Did they see your hard work, or just the outcome?
Hey Fain I try teaching my family what I know about wealth and I guess it sound like I was talking womp womp with them. Nobody is willing to listen so I'm going to have to love mine from a distance. If later they want to listen then they have to read half of what I read for me to even consider me showing them anything.
I agree, giving your family financial knowledge is extremely important.
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Learned this the hard way too. It’s been almost a year and still haven’t gotten my money too.
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You know you made it when you start wearing driving gloves 🚀
Nive Gloves. Keep up the great work
If black people learn to work together...the outcome will be ..just incredible!
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PREACH!
They wanna handout I tried to give them step by step
Be nice if all people could work together.
Great video Richard !!! Keep them coming lol!!
They don’t pay back and I’m not the bank
Very informative, thanks Richard. But have to say, it was really difficult to listen to what you were saying coz of the noise. Please don’t record this way, unless you just parked somewhere and not driving.
I managed to listen to the whole video but was very noisy had to lower my headphones to minimum and was struggling to listen to each word.
Otherwise, I appreciate this and got value from it💚
Oh man, I was taken for a fool during the pandemic by a guy I thought was a friend. Took me for thousands, I gave willingly, not expecting a return and then turned on me , trashed me and destroyed my reputation. I've gone no-contact forever. Money - keep away from situations or conversations where people may ask for money. Never ever lend money with the expectation of getting it back. I never expected to get my 15k back but I didn't expect to be dumped and trashed when the person no longer needed my help. No resolution possible. Had To cut the guy out of my life. Now I spend/save my money as I wish. No freeloaders need apply?! 😂😂😂😂😂
Sometimes, they do that on purpose so they don't have to pay you back.
Good stuff. Good stuff.
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Are you a mind reader Mr Richard Fain, my family has been doing this to me lately. Im the only one in my family that has financial common sense, even though Im guilty of overspending at times and being cheap and frugal, they sometimes find themselves in a pickle and ask me for money lol.
I flew back home in August. I spent 1k in less than 10 days. That’s more than I spend a month where I live now! They are stuck in the rat race and refuse to get out of the city! I was going to visit again for the holidays but no way. I rather save my money. It’s insanity.
Good job , we need to about that
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I have a brother in law who keeps asking me for money. I just keep saying i don't have it to give to him. I had lent him money and in fairness he did give it back but im just sick of him asking me for money. Im not an atm.
A real man doesn't enable people he cares about. He also gets a manual GT3 with the carbon buckets!
Thank you and I will also share new findings with you in a moment contact me privately ☝️✍️..
A lot of them don’t want to learn, they just want you to give to them… and then some of them will look at you like you think you’re better than them because you have more money… others will even go as far as trying to scr3ww you over in some way, shape, or form…
It’s no coincidence you drop this video today
This is a gym
I currently help my family because they helped me when I was struggling. I have created a charity fund to help.
I had a gf back in 1980. We were 20. She told me her mom was a financial genius. I had no reason to doubt her.
I noticed her family went out to eat a lot.
I noticed she bought $40. Lotto tickets every week.
Fast forward 43yrs and a marriage and a baby and a divorce. I asked my daughter how is grandma doing? She said grandma is 89 and completely broke. I was so shocked. Then I did some math in my head. They spent
Roughly $200k on restaurants and
$80k on lotto tickets. My guess is she could really use that money now.
How you love your mom from a distance? She is 70 and needs financial support and does not manage her fixed income very well.
Are you sure that this wasn’t occurring over the course of her life ? or is this something new in her behavior? Aging mind can present many ways, but sometimes ppl just aren’t good with money. It’s hard to move parents once they’ve settled but NOW more than ever the hard conversations need to be had… because of her aging, the current economic environment, and your own life goals. She, like others, will have to meet you in the middle, otherwise you will need to let them know the limits of your help.
My mom also has this issue, albeit she’s younger. Title loaned my grandmother’s vehicle when my gma was suffering dementia…for all intents and purposes, elder abuse. I had to cut $500 out of my paycheck when i had rent due, to pay to save my gma’s already paid off car. just dumb af, and I was mad that she would take such a risk. I wouldve loaned the money to prevent that type of scenario which was an emergency bc no one at my gma’s house had a car at the time. May my gma RIP
@@TuscanWonder Definitely something that has been happening but getting worse now that she's older. But there is no way I can just love her from a far.
This is something I struggled with with my own mom who is two years older than yours. She wasn't encouraged to manage her money by my father who took care of everything regarding the home. She could spend her money the way she pleased. Long story short she blew through all the money he left her. And despite her siblings and my brother and I trying show her how to be a better steward, she's not really listening. After much prayer and stress, the Lord brought me to these two scriptures Deuteronomy 5:16 (NKJV) "Honor your father and your mother, as the Lord has commanded you, that your days may be long, and that it may be well with you in the land which the Lord your God is giving you." And Ecclesiastes 6:9 (GNT) "It is useless; it is like chasing the wind. It is better to be satisfied with what you have than to be always wanting something else." I realized although she wants more, she's not willing to change and me and my brother are not able/willing to fund the lifestyle she desires. BUT we make sure some of her expenses are covered like food, shelter, taxes, vehicle maintenance when needed. My brother added her to his cell plan. We don't give her money to buy lottery tickets. We take her to her medical appointments. These are ways you can honor her without missing YOUR blessing. If she's not willing to change, I suggest having a "Mom" account where you deposit some money. Whether you tell her about it or not is up to you, but this is money when she needs assistance you have it set aside to help her without it blowing your budget. And know sometimes it's okay to say "no" to our parents. That did it to us growing up. 😊 Just make sure, as you're able, that her essentials are covered. I pray something in this reply helps you. 👃
@@AuntiePerspective wow amazing thank you so much this really blessed me as I just lost my father a few weeks ago which has made her financial situation worse without his social security coming in. I also like the idea about a mom account which I need to think 🤔 on a little more how me and my brother can make that work. I'm helping out as best I can with the basics light bills, food and car payment. I really appreciate the scriptures and feel really blessed by your reply thank you and God bless.
@@chucks430 I'm sorry to hear about your father. I know how hard it is. Encourage her not to make any major financial decisions right now. Everything is too raw. From what I've learned from financial experts the recommended time to wait is about 6 months. Praying for you all.
I had to unfortunately have a serious conversation with my mother about this.
Just what I was looking for
I've helped many fam members with money, some pay back, others... well that's another story.
PS. I love my familia too.
I take responsibility for my own finances and I expect everyone else to do it too. That's why I have a no lending people money rule. I happily give my advice but no money. You simply can't trust people to pay you back.
Teach a man to fish…great video.
This was an important topic. Thank you for this🙌🏿👏🏿
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I need help with financial education !!!!!
Ain’t really no financial education to give! Save what you can have a side hustle if needed and grow. Simple as that! I dont think it’s about financial education it’s just about self control and self perseverance. A lot of people don’t want to do that. That it!!!
RIGHT ONMY MAN
My family can get a rock right up side the head. I be dam I give them a tenth of a second to ask for one penny...#💯
Thanks~~~~
If you watching this, invest in the company you see on his left side. If yall miss it, he passed 4 amazon trucks, and im not mistaken those were rivian ev vans. I am extremely invested in amazon, google, apple, AMD, block(square), tesla, and now rivian because of the amazon backing.
God bless you
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They are NOT important. Do you. Who cares what they think.
Money is not the end of it, family, legacy is close!
Thanks~~~~
keeping it 100! as always! I can't stand coattail riders. they could make the same money moves YOU do! don't wait til I succeed, and hold out your hand for money!
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My family too much problem help me
I am a Bangladeshi, I have 8 people in my family, I am sick, 3 of them are sick, I have no parents, I am from Dubai, so I earn by myself, so my family does not survive. I care deeply, so I want help to save my family
2:05🤣🤣🤣Lol! You’ve done well… How about helping us out!
Right now I have family staying with me, they said give them 2 months to find there own place, well it’s been 3 months now.
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my man got racin gloves on
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I think that’s a Porsche gt3 they have a lot of power and torque!
Thank you Richard fain for these great encouragement it's helping me a lot
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🧐 🤔 GOOD JOB, RICH !! 🙌 👏 ..THIS IS ALWAYS SUCH TOUGH ACT TO PULL OFF.
…SO GLAD TO SEE THAT YOU WERE ABLE TO ESTABLISH THIS UNDERSTANDING (ESPECIALLY BEING SO NEW INTO MONEY AND AT THAT YOUNG AGE).
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How much for a channel shout out
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I make sure to pass on everything I learn to family members. As I build wealth, I want them to be building wealth also. I want to be surrounded by people who are consciously working to build wealth. By following this philosophy, you can limit money issues with family members.
It's not easy to share things with family when many don't want to see you succeed and some think you crazy just by thinking your ideas to wealth will work until they see you actually have and it's then when you know who is the ones you can trust with knowledge and who you can't cause even parents don't want to see you succeed when they didn't or don't want you to achieve higher than them. Then they instill that same mentality in your siblings.
I share with anyone who wants to learn and those in need of help and want the help whether it could be family or not. The ones who really need it may not be a family member and would be very thankful for helping them out of their situation.