Hello Aluxers! If you get wealthy do you want your grandchildren to enjoy your wealth or should they build their own? Video Notes: www.alux.com/new-money-old-money Protect yourself online! Get a VPN: www.alux.com/vpn Gamer? Check out ZeroDeaths: ua-cam.com/channels/u_bDJlacS4ttWUvwdgNrlQ.html 15 Types of RICH PEOPLE: ua-cam.com/video/Ru_kDBLY66U/v-deo.html
Both! Why? Example if I was to have $1.50 and my child end up working and making a $1.00 before I pass away. They will end up with $2.50. So that’s way better than me giving them the comfortability to become a slacker. Like I always say prove to me that you can make a certain amount and I will double up on what you make!
Growing up, working hard to pay off debts left by parents, I won’t put my children and their children after them through the same nightmare. I am better than that! Thank you Alux.com for this great video.
Exactly their have been old money families who blew through it and new money who are changing the world as we know it just look at tech and the new forms of innovation happening right now
Yup. Old money can buy flashy stuff, new money can be good with their wealth. It's not always new money = classless thugs buying Lambo's and old money = buys Toyotas and wears the cheapest clothes.
@@HiddenWen exactly the video it self is not a true representative of wealth there's been old money families who Lost it all so to try to compare old money and so called new money is weird
New Money: Imma buy me a lambo and roley. *Goes broke within the next year* Old Money: I'll invest in a winery and real estate. *Creates a dynasty that lasts decades*
Today's era of old money familes are kinda down to earth tho. Because i've seen them living their life. We can spot new money but we cant spot old money.
It's quite easy to tell "old money" and "new money" apart from how they treat staff, waiters, etc., (not to generalize) most new money tend to be rude and entitled.
@@BLUE-wd4oq In what world do you guys live in? Old money are the rude and entitled. Did you not even watch the video? They purposely create "rules" for spotting interlopers or people they deem to not be part of the in group. They're very exclusive and don't like hanging around people in their social/economic status. They literally view themselves as better than working class people. New money is more down to Earth because they know what it's like to be poor and to not have. Seriously, what is up with this obsessive romanticism of old money??? These same people look down on you...
NM: I come from old money, but I was told from a very young age to earn my lifestyle in life. Regarding point 3, I remember when I was 8, I attended a social event with my grandmother; we had to leave early, and the midst of everything going on, my grandmother left her purse on the table. A friend rushed quickly behind to give her the purse. As she was handing her the purse in the parking lot, the friend complimented my grandmother on her "new" Mercedes 3 years after she had bought it brand new. When I asked my grandmother why she hadn't told anyone, she replied: "When you know you have it, you don't need to show it".
Old money is the goal. Old money isn’t pissed off or political at all. The only good thing politicians can do for old money is not take what they already have.
@@kadeaudain6991 yeah it means they are stuck up assholes if you think someone with new money is not as good as you. In fact, new money people are usually self built, which in my eyes is better than being born into money it means they earn what they have
Let’s be honest, most “old money” family’s got there from racism. They literally stole things from the black race and profited economically. They act like they created the blue print, then look down on those that aren’t in their economic class ... it’s a new era and old money is falling 🤷🏾♀️
@@appetite4chic878 That entire paragraph was racially charged. If you think that europeans were the only people on earth to conquer, colonize and pillage then you are sadly mistaken. For centuries the Persians tried to invade Europa, but failed. Humans are tribal by nature, but if you stop bringing race into everything maybe we can co-exist as a peaceful society.
I knew a family maid/nanny that worked for new money then old money. She said that the old money family were more down to Earth than the new money, made her feel important, and made sure the kids had chores. She said one of her main duties was making sure the old money kids helped out with chores. She said the new money family expected her to treat the children as if they were her boss and that's why she left.
@@justincase1144Anecdotes can be very relevant because that's often the only means by which we can evaluate sociological phenomena such as culture. The important thing to remember about old money is that they try to restrict new entry into their class to retain power and minimize competition for resources. They've been very successful in America, where the 1% has acquired such an overwhelming advantage that it takes a monumental effort to get there from the bottom. A maid isn't trying to become a one percenter, so she's cool. And old money employs new money to overtly harass the poor, for the obvious purpose of oppressing the poor. LOL.
Perhaps, tho most old money people I’ve known have been completely insufferable, self important, and completely lacking in practical knowledge and street smarts
New money brings more wisdom that any old money can but it all depends on how you make it (the kardshians compared to Tony Robbins for example). Old money have everything handed to them from child birth, new money is earned.
NM My granddad was old money . My father blew it & we became lower middle class . I am going to bring that damn new money again in my family & gradually transform it into old money . Edit - I have earned $100 since this video came out & I am just 17 ( this is a big deal in my country India ) . Thank you very much Alux .
@@KittyKat-vb1nd inherited sense of place only comes if your born into security In order to make it out the gutter you gotta get outta your comfort zone or else you won't be able to be innovative
As a working class man that has worked for old money and new money, I can say the following about taste in women: 1) The poor (in their eyes): We like thicc, short girls. The thicker the poorer. 2) New money: Like plastic girls. Exaggerated bodies. 3) Old money: Like tall and thin, very attractive faces, good skin, good hair but modest bodies.
i don’t want to be rich, i want to be expensive. there’s wisdom, work, elegance and class that comes with old money, but new money is cheap, boring, dull and fake.
Precisely. I am English and grew up middle class but one thing in particular many Americans lack an understanding of is the family name and lineage outweighs monetary. Rich have to constantly remind as true wealth. You know their names alone and the history it brings. New money is still amazed they got in but realise they lack the pedigree to reach the level in monied society where they want to be.
I would like my grandchildren to have “Old Money”, but I still want them to have drive and ambition to make their own lives, and add on to the family money🤷♀️
Remember that line from the movie The Aviator when Howard Hughes is having dinner with old money and they mention they don't care about money. Hughes says, "you don't care about money, because you have money.!"
Hey List Guy! What are you going to do now?!! Full Video Notes: www.alux.com/new-money-old-money 01:31 - New Money invests short term, Old Money invests long term 02:06 - New Money spends by trends, Old Money spends by tradition 02:51 - New Money loves talking about money, old money rarely mentions it 04:06 - New Money sits courtside, Old Money plays golf at the country club 04:46 - New Money is always in a hurry, Old Money takes it slow 05:37 - New Money loves Publicity, Old Money Hates it 07:24 - New money is less snotty but also less polished 07:59 - New money entertains by dining out, Old Money entertains at home. 08:57 - New Money is open to new people, Old Money is closed off 09:45 - New Money thinks they can always make more, Old Money is trying to make it last 11:38 - New Money buys Experiences, Old Money buys Things 12:51 - Old Money knows all the rules, New Money doesn’t care about the rules 13:29 - New Money has specialized knowledge, Old Money has general knowledge
I appreciate the racism example because it’s true. All these people butthurt living in a bubble. The rich are segregated, you probably don’t even recognize the names of the real old money.
New money is obviously taking over old money. Considering the fact that the top 5 richest people on earth combined have a networth of around 3-400 Billion, maybe even more are all under the new money category, and these guys aren’t flashy at all. This video is trash lol.
@@LaSombraa But old money have all their assets tied to trust funds. So much investments in stock market is from trust funds, so really don’t know how much that would amount to. Though I do think it is very jaw dropping looking at the net worth of world’s richest people.
The rich stay rich by spending like the poor and investing without stopping then the poor stay poor by spending like the rich yet not investing like the rich.
@@charleslogan5393 Not quite simple though, been trading cryptos for a while but often ends up with losses whereas others are profiting massively from it, so frustrating
Beginners in crypto currency often make the mistake of try to trade on their own without having the required knowledge to benefit from the market, Try and get a professional who you can always reach out to for assistance
As a beginner, I had so much losses and even thought of quitting cryptos trading until I got introduced to the renowned Dr Kelly Jones. The fact She's a well known name in the industry with several years of trading experience and known affiliations with Nadex and Binomo made it more exciting and unlike others she doesn't charge a dime to teach and guide you with her expert strategies
@@shirleydoris3777 Am much thrilled to see her other investors, I thought people don't know her. She is a very sincere woman who understands the challenges faced by beginners, I started trading under her guidance after seeing her interview with CNBC. that woman is really a great woman.
Keep in mind that "Old Money" was once "New Money" a long time ago. So it doesn't really matter as long as that money came from good hard work. Just cherish other people's achievement.
An observation - Old money is NOT trendy. Trendy can be profitable for those selling but constantly changing trends but trendy people waste money always trying to be in style and fashion. "Fashion is a name we give things so ugly we have to change them every six months." paraphrased from Oscar Wilde. Old money buys things that last and knows to never pay more than something is worth regardless of the asking price. Biggest wastes of money are clothes and always having the newest electronics. Next biggest is the new car. A Certified Pre-Owned usually has a better warranty, longer and more miles, and someone who had to show off took the 20-40% depreciation "narcissist fee" hit having to have a new one. If you do acquire new - drive it till it drops. MY paternal grandfather died before his Mercedes did and we still have it with 600,000 + miles on it. I still have my maternal Grandfathers cuff links, handed down, his shoes, belts, and dressing chair. As well as all their furniture. Acquire assets that last. Parting shot - rich and wealthy are NOT the same thing.
Thanks Alux! NM! This is interesting because I've seen generational wealth and extreme poverty. My maternal great grandfathers had lucrative real estate businesses in Jamaica, my grandma had a construction business, and my mom was a doctor. But when my mom immigrated to the US, there was a family feud. So I grew up in poverty while my uncles cannibalized the estate after my grandma passed. My mom & I clashed since she grew up in luxury, but I'm starting to see where she's coming from. So there's some old money in my lineage, but since they blew it I'm building from scratch after college. Good to keep in mind as I grind. Thanks again!
No, what separates les nouveaux riches from the old money is that les nouveaux riches are stuck in this cycle where the first generation makes the money -> the next spends the money -> the 3rd generation are poor or middle class.. the cycle either repeats itself if they are lucky. They are entertainers of today, entrepreneurs, politicians, etc. Old money is money that has transcended generations, endured 100+ years of wars, economic changes, trends, etc. Old money are: some aristocratic families, royalty, dynastic business tycoons and political families like the Vanderbilts or the Kennedys in the U.S
@@antoinedemm7533 bro you didn't undrestand meeeeee , i said the old money was new money and become old money , and the new money may become old money at the future you would see 2100 a family of jeff besoz like a family of kenedy .
Antoine de MM Yea Yea but there’s still room for new money to become old money. As long as these billionaires didn’t raise dumb kids(Well the entertainers and athletes no offense probably failed at this), their legacies have a shot at survival.
To the Alux Team: I greatly enjoyed this video. Reminds me of German haute culture and also of my experiences at the Ivy League. Although I am not a financially affluent person myself, I do consider myself affluent in knowledge, life experience and depth of experience. And something that I can tell you is that your team hit the mark with this video. It's accurate. So as to your question of old money vs. new money, I personally love the culture of old money. Many older generations of Ivy Leaguers are part of the Old Money world, here in the US, and being their friend, has given me so much insight. To use an analogy, I would say that "adulthood is to Old Money, what adolescence is to New Money" Old money is mature, secure and established. New money is immature, insecure and ahem, well, new. Old Money is an elegant, centuries old oak tree: deep roots, meaningful traditions, a work of art. New money is a tall palm tree that shot up under plenty of water, wind and sunshine: eager to impress, ever sunny but also, generally shallow. I am not at all impressed with new money (save for their hunger for innovation, change and cutting edge new tech). But with old money? Just about everything impresses me and I respect. And because we are like minded and share common values, I tend to have enduring friendships with many who are O.M. They have enriched my life beyond words--intellectually, experientially, culturally, spiritually and of course, socially--and I have enriched theirs with my international/cross cultural experiences. And that is one thing they have plenty of: intellectual curiosity and respect for world heritage. Thank you, Alux Team. You've elicited a world of happiness, gratitude and appreciation with this video ❤
You under rate and underestimate New Money. Do you know the level of drive, dedication and extreme, excessive, obsessive hard work required to become a New money today? I doubt you would understand. Every new money have something special...they have passed through fire and the universe deemed them qualified. Please respect them, i know what i'm talking about.
As 2nd and 3rd generation immigrant families, i guess it is new money, but how we got it was very hard work. Hopefully be old money for the 4th generation. With respect for the new and old money and how it was made with very hard work.
My best friend comes form old money (not going to name drop but he comes from a long line of lawyers). If it's anything I learned is a lot of mental problems are solved with money. My bud went through a complete meltdown a year ago, so he took a semester off. Stayed at the lake house for a bit and did worked. He didn't have to work but his dad instills good discipline in him, and he's very thankful for it. Edit: He isn't snobbish at all. Once I found out he has money it shocked me for a while but I cooled it quickly. Never kissed up to him or anything, it was more a opportunity as at the time I was considering going to Law School and new his dad had grade A connections. His dad did say he'd write me a glowing recommendation but II decided against it, I prefer Software Engineering, and feel I made the right choice either way. We're still friends too. Cooled it down after a week or two, and even openly honestly apologized for it. He understood after I explained my background ( grew up very poor) and even offered me the law school thing ( again turned it down). He's a great bud, too bad I'm not that social or I'd hang out more. He understands though, we're both working hard in our lives.
The real difference is that the old money people were rich all their lifes. They got the best education, the best social network and other stuff since their young age. They were free all their lifes. That's a huge difference at the end of the day. Old money life's perspectives and retrospectives memories are their most precious treasure.
Coming from an old money family, my relatives have really high expectations from me, my siblings and my cousins to value and what our ancestors worked hard for
@Wahrheit Siegt well it’s either you have to be part of the company and not follow your dreams or follow your dreams but it still has to be related to the family business. In our case, real estate, oil and banks. The good side is that your path is already laid for you but the things you want to do are limited. Plus trying to make a name for yourself and prove not just the heir.
Old Money Superiority was just something the Old Money types who have their assets tied up in long term assets and trust funds (thanks to their prudent ancestors) created to still feel superior against the New Money types who are living their life freely spending what they have lol. Old Money doesn't automatically make you classy, and New Money doesn't make you some churlish gorilla. At the end of the day, the way you conduct yourself determines if you are a lady or a gentleman; and when it comes to money, what matters is that you have the freedom to enjoy and derive happiness from it.
@Wahrheit Siegt Have you watched the matrix😎? That's what the reality is kinda like. If God is one who created the laws of physics ,biology,chemistry. he can alter them, reshape them and so can the demonic spirits through magic coz they exist in a different plane of reality. After all science actually proved there are more than 3 dimensional plane of reality in quantum physics, those extra dimensions is where the spiritual world operates. Once again i am trying to tell you, you are stuck in Plato's allargory of the cave. We, born again Christians have come out of the cave and have seen the Sun🌅. Its really hard for me to explain to you what the sun looks like if you have never seen it.. it's for you to make a choice and take a leap of faith.. Jesus said "you can't please God without faith".. You know why their is little evidence of the extraordinary.. Jesus said (Mathew 16:4)A wicked and adulterous generation looks for a sign, but none will be given it except the sign of Jonah." Jesus then left them and went away. The sign of Jonah he referred to Jonah being swallowed by a fish and being vomited out after 3 days in old testament. This was a parable to what he knew he will be going to do. He knew that he will be killed and on the 3rd day, death will vomit him out, as he conquers death.. paying the fine of sins of the people who would believe..John 3:16 "For God loved the world that he sent his only begotten son whosoever believes in him will not perish but have everlasting life. Time is running short.. Satan's son (the Antichrist) is going to be revealed very soon. And the whole world will be deceived to worship him. #bingeJesus ua-cam.com/video/ybxSECS9jxY/v-deo.html
@@keyboardevangelist What a bunch of superstitious, pseudoscientific lunacy. Please stop using the comments section to recruit for your Bronze Age cult.
@@ToND1Ne why do you think the universe is so fine knife edge tuned for life that the dark energy required for the acceration for expansion of the universe is 0.000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000138. Sorry i left out some zeros there😅. That if it decreased or exceeded this number the universe couldn't have form?. Why is the golden ratio found in many things in nature? It is obviously intelligently designed. Why do you think the ability to focus of your brain can alter the physical attributes of your brain (neuralplasicity) if consciousness just arises from the brain? The mind is irreducible. Why does your mind(consciousness) have the ability to collapse the quantum wave functions of electrons when you observe them? The mind over matter idea.. consciousness is like a operating software in a hardware computer.. and first of all softwares need programmers. Do you know who claims to be that? Jeremiah 1:5 before i made you in your mother's womb i knew you i set you apart..have ever seen a program that just got coded on its own without any intelligence behind it? And yet The human DNA is said to have more than 3.1 billion bits of information and you just think somehow protein molecules just decided to form complex DNA structures to form the first microorganism without any intelligence behind it. You know currently physicists are saying that spacetime is emergent from 2-D information plane. That it might be just a holographic simulation. So then if it is a simulation then who made the simulation. John 1. In the beginning there was the "word". And the word was God and everything in existence was through him and for him. And the word became flesh to dwell amoung men. The word is Jesus christ and he is coming soooon to take what is his and to judge all of mankind in history. So once again like i said atheists are Trapped in plato's allegory of the cave. We , born again Christians is hard for us to explain to you how sunlight feel like if you need seen the sunlight. God is someone you experience. God wants you to take that step on your own. A leap of faith. Jesus said seek and you will find. The spiritual realm is real. And i have a hint that it can be scientifically proven now. Why do you think that we can only observe and measure the 4 dimensions of spacetime while quantum physics and advanced geometry have proven that more 8 dimensions of spacetime exist. The spiritual beings (demons,angels,the holy spirit) move through those extra dimensions we can't normally observe.. so yeah😅. I need much more blind faith to believe the religion of extraordinary accidents and conciedence called atheism.
I definitely want my grand grand children and even the children of the next generations to have old money which is something I am pursuing because I understand what it is to be born in poverty, even though I came from old money. It just happened to be that my parents made mistakes so now I gotta get the bag and secure it.
This episode really had to me thinking about my legacy in life. I mean I don't want children but doesn't mean my money can't triangulate through my family. Great job #alux #NM
I think my grandchildren shouldn't have to suffer. So they should have all the basics. Including a good house and transportation ...... Beyond that, each individual should have to work for the stuff they want. It leads to a better appreciation.
I attended public schools, and was exposed to all classes of people the struggling and those who had to wear old worn out hand me downs to the doctors and lawyers kids. The ones who were the old money I'm guessing because they refused to send their kids to private school (they can't compete and look down on others because they all had the same name brands) The old money was discriminatory and rude to others, while the up and coming group was gentle to all. I would prefer that each generation have a humble inheritance, $10,000 or less just to get them on their feet, and then the rest is up to them. I went to school with a girl whose father inherited a chain of McDonald's restaurants. She was spoiled, self absorbed got a Corvette on her 16th birthday. She never appreciated anything because she never had to struggle for it. Same goes to a kid whose grandfather was in the oil and gas business. That is why the twenty somethings are refusing to carry on the family business their grandfather's started, they are unaware of the hard work and struggles their grandfather & grandmothers went through to accomplish their goals, and don't appreciate them. Instead, they refuse the family business so after their fathers retire, they either close shop, or sell it to a complete stranger, and take their inheritance in cash which gets spent quickly. 🙄🙄
So as black kid from Philly both NM and old money have always been an abstract idea to me. A language that I've spent a lot of time learning. I had a white mentor, he was basically my "rich dad" iykyk, who taught me personal finance, the internet and things like Alux have also been a great help, I'm in college on academic based scholarship studying finance and economics. I'm on the verge of being the first multi millionaire in my family and neighborhood... anyways to answer your question I think the black community at least in the US has never had old money and now is the time for that to be a possibility. But money has to be new before it can be old... which puts us in a weird position. Especially the ones that haven't even hit their first million like me. I've been fortunate enough to have a high five figure check and I'm 19... which is basically unheard of where I come from. So it takes a lot... Especially when your city is basically a low level war zone... literally casualties everyday. So I had to leave there to go to the college I'm at now but I want to be able to make new money and spend it all on solutions to fixing the problems in my community. Buy back the block if you will.
I'd want my grandchildren to have old money and become new money. Having a safety net is great. Weaving it to be more durable is greater. It's gotta start with me, the NM!
New money culture has its benefits, and is the foundation for evolving into old money. What trips people up is by not keeping sane and having some spiritual humility.
Alfredo castillo au contraire, I’m successful enough not to need to work for them (I’m 25 and retired). I just thought it would be fun to educate others coming up in a fun way.
@@jahnome Congress man now I know that I can retire too even tho am just coming in to the money world am 37 going 38 soon am not working for money anymore so at 25 man all the best man u should come to Jamaica sometime man
In sociology, barriers to access are not called "racism," as you said in the video, however. It is called a "gatekeeping mechanism." Think of the Ivy League. With 7%-9% admissions rates, don't you think of that as a "gatekeeping mechanism?" That selectivity and exclusivity is intended to maintain the culture and reputation of the schools steady and consistent across generations. That's how it works.
I think whether new or old money, each generation should have their own focused ambitions. Old moneys tendency towards nepotism leaves little room for younger generations individual ambitions and innovation, in fact in many cases it actively stifles those goals. New money on the other hand, while full of ambition and innovation tends to have less focus and therefore tends to waste time, energy and resources chasing after half formed ideas. Tilting at windmills so to speak. Stagnation can kill fortunes just as well as frivolity can. Which is why it’s important, in my opinion, to have focused, forward thinking ambitions and for the individuals who would weild them to be unafraid of the hard work that they require to implement.
Where are the rich/wealthy Africans? 🤔👀. There are plenty plenty wealthy families in Africa. Can you please make videos where rich/wealthy Africans are are also included? Thank you really appreciate it. And thank you for the amazing quality videos.
NM....used to have family money, but blew it all and ended up with alcohol addiction (same with my father). Hard to get back up there, but worth while after knowing what it’s like having money. I believe having purpose and being passionate about what you do is super important, but also financial goals are important at the same time 😀
I already have a multimillion dollar company, but though I'd be considered new money, I am severely introverted and hate being in the limelight, so to speak, so I still whisper my wealth unless someone specifically asks about it. I am even in the process of hiring someone to work with to become the "face" of my company so I don't have to be in the public eye. All that aside, NM!
I agree with a lot of what you said but I know someone that was “old” money and they travelled the world and they didn’t brag about it but subtly mentioned all the places they went. So I think it’s the individual not the stereotype.
I feel the opposite is true ... dressing to impress is still very logical ...the rich you are talking about are all tech billionaires and they are known more by their names than their faces ...those who are known by faces always dress to impress ( new money) ...if you're old money you have to dress to impress when professional
didn't kno what old money was ..that is what they always called me at work....I was reserved & polite and kind and treated everyone same way & with same energy with much confidence ....they called me vintage or old money🙏🙏🙏
The poor keep talking about money, the rich keep talking about expensive things they own, the wealthy keep talking about ideas, old money means wealthy, not rich.
NM Our "goal" is that, when we've transitioned from New Money to Old Money, we will have successfully educated our children and grandchildren into positions to acquire their own wealth, and maintain the wealth they've inherited.
17: new money knows how to enjoy it,old money dont. 18: new money knows they will die oneday, old money invest themselves somuch to secure their future gens that they forget to live their life,they forget that money is nothing but poce of papers.
I think a combination of both. Teach them to leverage the advantages they have and improve themselves and help others grow with them and then be their own and take on their passions, monetize on it, and keep helping others. You have to educate them and preach that and do it yourself so you can be an example.
As someone who is a part of old money , we still have fear of going into different businesses, technology , sadly our wealth dried up a generation back so its basically start from zero (but with some manners)
I'm in the gray area of mixing these methods such as keeping up with trends however not flaunting money for obvious reasons, High net-worth is the bottom line.
My dear Alux... today I want you to know how grateful I am for your videos. I have learnt so much about money; I don't think I would be so knowledgeable about this matter if it hadn't been for your excellent content. Mostly, women shy away from money-making but your videos, being gender neutral, have shown me that anyone can become rich if they have the right knowledge and take the right steps. Thank you!
Each generation needs to create its own wealth. There’s no guarantee that the wealth left to our families will be maintained and therefore should be invested into things that create a better world for all life.
I'm not a grandparent yet, but as a parent of 3 it seems like the answer depends on the children. For example, my daughter still doesn't seem to have learned how money actually works in society & why she's not getting it. She is still hopeful of falling in love & marrying someone with $. For her, she's going to need to learn (or not) via life's lessons. My oldest son though is 17 & has a pretty solid grip on basic & intermediary socioeconomic principals & an understanding of value. Ergo, he could be old $ & would probably end up providing lots of value to lots of people. 5 yr old can still go either way... heh
Jannat Malhotra what I mean is, what if you making new money but you don’t do stuff that new money makers do like social media, buying funny stuff and messed up experiences? Just saying... I love the old money rules and lifestyle and paying to stay anonymous is definitely what I took home from this
@@hamryalasad I get what you mean. I made my own money but live like old money and some people suspect but most have no idea how much I have. I don't make money for the stuff, but just like the game of making more. That said, I also simply have 'old money' tastes.
Old money was once new money... People with old money have had the longest of time with money and that’s why they are comfortable with it and know the monetary system in an out . Nothing wrong with new money, if you have new money , it’s ok to be flashy and enjoy it, make the” mistakes “.... one day you will have enough experience and have old money . It is all about the experience . This is just a real life game , everyone starts off as a rookie and they move on to be pros ... that’s all .
I'm more into the idea of passing wealth through generations because everythings getting harder nowadays and I don't want my offspings to face the same difficulty in life as I did.
Would definitely love my grandkids to be old money. That being said... in light of #15 I wonder whether a daoist attitude of 'change is the only constant' might be what's missing from the education of a lot of dynasties?..
Hello Aluxers! If you get wealthy do you want your grandchildren to enjoy your wealth or should they build their own?
Video Notes: www.alux.com/new-money-old-money
Protect yourself online! Get a VPN: www.alux.com/vpn
Gamer? Check out ZeroDeaths: ua-cam.com/channels/u_bDJlacS4ttWUvwdgNrlQ.html
15 Types of RICH PEOPLE: ua-cam.com/video/Ru_kDBLY66U/v-deo.html
A good man leaves inheritance for his childrens children
Thanks for your Compliments 😊
Love ❤️ This Video 😍
👍👍👍👍👍👍❤️
Alux you guys changed my life & I’m now awaken to life & playing the game of life he gives me butterflies
Both! Why? Example if I was to have $1.50 and my child end up working and making a $1.00 before I pass away. They will end up with $2.50. So that’s way better than me giving them the comfortability to become a slacker. Like I always say prove to me that you can make a certain amount and I will double up on what you make!
Growing up, working hard to pay off debts left by parents, I won’t put my children and their children after them through the same nightmare. I am better than that! Thank you Alux.com for this great video.
New money owns the buildings, old money owns the land.
Hahahahaha
I like that
Well put
New money post their luxurious lifestyle on social media. Old money don’t post their lives on social media.
Silly how the rockefellers, the stuyvesants and the astors have all their names on plazas, buildings and squares...... stop talking bs
Doesn’t matter if it’s new or old money, just make sure you have money and know how to manage it.
@Sujal Bharti lol thanks for that. much love
Exactly their have been old money families who blew through it and new money who are changing the world as we know it just look at tech and the new forms of innovation happening right now
Yup. Old money can buy flashy stuff, new money can be good with their wealth. It's not always new money = classless thugs buying Lambo's and old money = buys Toyotas and wears the cheapest clothes.
@@HiddenWen exactly the video it self is not a true representative of wealth there's been old money families who Lost it all so to try to compare old money and so called new money is weird
@Sujal Bharti i think you are in wrong comment section
New Money: Imma buy me a lambo and roley. *Goes broke within the next year*
Old Money: I'll invest in a winery and real estate. *Creates a dynasty that lasts decades*
lol
new money builds Amazon and Microsoft old money is just simply born
NM
New money buy brand new BMW, old money invest in stocks
winery is not a good business
Today's era of old money familes are kinda down to earth tho. Because i've seen them living their life. We can spot new money but we cant spot old money.
Best example of old money I know is local farmers. Poor area millionaries. You'd never even know they had any.
It's quite easy to tell "old money" and "new money" apart from how they treat staff, waiters, etc., (not to generalize) most new money tend to be rude and entitled.
@@BLUE-wd4oq In what world do you guys live in? Old money are the rude and entitled. Did you not even watch the video? They purposely create "rules" for spotting interlopers or people they deem to not be part of the in group. They're very exclusive and don't like hanging around people in their social/economic status. They literally view themselves as better than working class people. New money is more down to Earth because they know what it's like to be poor and to not have. Seriously, what is up with this obsessive romanticism of old money??? These same people look down on you...
NM: I come from old money, but I was told from a very young age to earn my lifestyle in life. Regarding point 3, I remember when I was 8, I attended a social event with my grandmother; we had to leave early, and the midst of everything going on, my grandmother left her purse on the table. A friend rushed quickly behind to give her the purse. As she was handing her the purse in the parking lot, the friend complimented my grandmother on her "new" Mercedes 3 years after she had bought it brand new. When I asked my grandmother why she hadn't told anyone, she replied: "When you know you have it, you don't need to show it".
Thank you for sharing your story. I enjoyed it :)
Some people got new Money
Some people got old money
I got no money
LOL!
nm
I thinks jobs give u money
Haha
😞😞
Old money is the goal. Old money isn’t pissed off or political at all. The only good thing politicians can do for old money is not take what they already have.
Dude why u everyehere
677htg hgbn
“Cause I’m out here grinding” 🎶
@@CaseyBurnsInvesting You are no doubt, but I hope you're not talking about fait currency when you say old money
Alfredo castillo
Money is the delivery vehicle for wealth.
old money didnt work for shit
"its like racism, but with money." Oh so you mean Classism.
@Hanif Alexander Joseph Meah "someone with old money doesn't consider someone with new money to be upper class," This is the definition of classism
@@kadeaudain6991 yeah it means they are stuck up assholes if you think someone with new money is not as good as you. In fact, new money people are usually self built, which in my eyes is better than being born into money it means they earn what they have
Let’s be honest, most “old money” family’s got there from racism. They literally stole things from the black race and profited economically. They act like they created the blue print, then look down on those that aren’t in their economic class ... it’s a new era and old money is falling 🤷🏾♀️
@@appetite4chic878 That entire paragraph was racially charged. If you think that europeans were the only people on earth to conquer, colonize and pillage then you are sadly mistaken. For centuries the Persians tried to invade Europa, but failed. Humans are tribal by nature, but if you stop bringing race into everything maybe we can co-exist as a peaceful society.
@@pszych2445 So , you say someone like the Kardashians deserve their money more because they self built , than for example a royal family? Huh
New money: extroverts
Old money: introverts
True
True. I am an extrovert
Frr I'm an introvert
I'm an ambivert (both introverted and extroverted) I don't know if I should go new money or old money. 😁
It's kind of funny, I'm an introvert, but to say I'm an introvert, is extroverted in itself. 🤦🏾♂️
I knew a family maid/nanny that worked for new money then old money. She said that the old money family were more down to Earth than the new money, made her feel important, and made sure the kids had chores. She said one of her main duties was making sure the old money kids helped out with chores. She said the new money family expected her to treat the children as if they were her boss and that's why she left.
Anecdotal evidence. Irrelevant
@@justincase1144Anecdotes can be very relevant because that's often the only means by which we can evaluate sociological phenomena such as culture. The important thing to remember about old money is that they try to restrict new entry into their class to retain power and minimize competition for resources. They've been very successful in America, where the 1% has acquired such an overwhelming advantage that it takes a monumental effort to get there from the bottom. A maid isn't trying to become a one percenter, so she's cool. And old money employs new money to overtly harass the poor, for the obvious purpose of oppressing the poor. LOL.
I think old Money comes with wisdom . New money brings arrogance...
Being arrogant is not really different from being snob. Or at least, it’s not really worse. Old money is definitely snob
Perhaps, tho most old money people I’ve known have been completely insufferable, self important, and completely lacking in practical knowledge and street smarts
that logic doesn't even follow lmao
Not necessarily
New money brings more wisdom that any old money can but it all depends on how you make it (the kardshians compared to Tony Robbins for example). Old money have everything handed to them from child birth, new money is earned.
NM
My granddad was old money .
My father blew it & we became lower middle class .
I am going to bring that damn new money again in my family & gradually transform it into old money .
Edit - I have earned $100 since this video came out & I am just 17 ( this is a big deal in my country India ) . Thank you very much Alux .
@Wahrheit Siegt thanx buddy
All the best bro.
Oh wow, I'm so sorry for your lost.
regain back the glory days and make a noble house with a cool insignia
Same ugh
money talks - wealth whispers - cash screams - riches remain silent
wow who quoted it?
@@tanzilalam6299 the Bhagavad gita
Indeed. Old money knows it's security. New money does not have the inherited sense of place.
@@KittyKat-vb1nd inherited sense of place only comes if your born into security
In order to make it out the gutter you gotta get outta your comfort zone or else you won't be able to be innovative
I like it
As a working class man that has worked for old money and new money, I can say the following about taste in women:
1) The poor (in their eyes): We like thicc, short girls. The thicker the poorer.
2) New money: Like plastic girls. Exaggerated bodies.
3) Old money: Like tall and thin, very attractive faces, good skin, good hair but modest bodies.
i don’t want to be rich, i want to be expensive. there’s wisdom, work, elegance and class that comes with old money, but new money is cheap, boring, dull and fake.
Precisely. I am English and grew up middle class but one thing in particular many Americans lack an understanding of is the family name and lineage outweighs monetary. Rich have to constantly remind as true wealth. You know their names alone and the history it brings. New money is still amazed they got in but realise they lack the pedigree to reach the level in monied society where they want to be.
Like your shoes
And a little ghetto
What the fuck do people even be talking about nowadays?
@@KittyKat-vb1nd classism
I would like my grandchildren to have “Old Money”, but I still want them to have drive and ambition to make their own lives, and add on to the family money🤷♀️
The two don't work together. The drive can only come from REAL hunger.
Old money acts as though it's the fist generation in terms of drive but does it quietly.
right
So, like 16:45, your grandchildren become new money first then transition to old money? There are some examples of that in real life.
@@edosaidugboe8339 not necessarily, I know people born into money but still work really hard
"When you want to succeed as bad as you want to breathe, then you'll be successful" -Eric Thomas
Powerful quote!
I love that quote and ET
«We are all carrying the scars of poverty” .It was so deep🦋
Remember that line from the movie The Aviator when Howard Hughes is having dinner with old money and they mention they don't care about money. Hughes says, "you don't care about money, because you have money.!"
Was that not jack dawson in titanic when he has dinner with the rich folk
love that movie
he came from money too though
You not lying about the book references. Millionaire Next Door changed my life and how I look at wealth and spending 🙌🏽📖
New money watches Alux because this is where future billionaires come to get inspired.
And yet they hate us so f#$%ing much
Hahahahahahaha yes
funny HAHAHAHAA
Old money watches to know how to keep the new money away
Classic😂😂😂
Hey List Guy! What are you going to do now?!!
Full Video Notes: www.alux.com/new-money-old-money
01:31 - New Money invests short term, Old Money invests long term
02:06 - New Money spends by trends, Old Money spends by tradition
02:51 - New Money loves talking about money, old money rarely mentions it
04:06 - New Money sits courtside, Old Money plays golf at the country club
04:46 - New Money is always in a hurry, Old Money takes it slow
05:37 - New Money loves Publicity, Old Money Hates it
07:24 - New money is less snotty but also less polished
07:59 - New money entertains by dining out, Old Money entertains at home.
08:57 - New Money is open to new people, Old Money is closed off
09:45 - New Money thinks they can always make more, Old Money is trying to make it last
11:38 - New Money buys Experiences, Old Money buys Things
12:51 - Old Money knows all the rules, New Money doesn’t care about the rules
13:29 - New Money has specialized knowledge, Old Money has general knowledge
I appreciate the racism example because it’s true. All these people butthurt living in a bubble. The rich are segregated, you probably don’t even recognize the names of the real old money.
Exactly.
Fact!
New money is obviously taking over old money. Considering the fact that the top 5 richest people on earth combined have a networth of around 3-400 Billion, maybe even more are all under the new money category, and these guys aren’t flashy at all. This video is trash lol.
@@LaSombraa This wasn’t the point, the point was segregation. You couldn’t get within a block of Jeff Bezos. That’s why I appreciated the point.
@@LaSombraa But old money have all their assets tied to trust funds. So much investments in stock market is from trust funds, so really don’t know how much that would amount to. Though I do think it is very jaw dropping looking at the net worth of world’s richest people.
The rich stay rich by spending like the poor and investing without stopping then the poor stay poor by spending like the rich yet not investing like the rich.
I don't know who need to hear this, saving won't make you a millionaire investing will..take out some money and invest. Do it wisely though
@@charleslogan5393 Not quite simple though, been trading cryptos for a while but often ends up with losses whereas others are profiting massively from it, so frustrating
Beginners in crypto currency often make the mistake of try to trade on their own without having the required knowledge to benefit from the market, Try and get a professional who you can always reach out to for assistance
As a beginner, I had so much losses and even thought of quitting cryptos trading until I got introduced to the renowned Dr Kelly Jones. The fact She's a well known name in the industry with several years of trading experience and known affiliations with Nadex and Binomo made it more exciting and unlike others she doesn't charge a dime to teach and guide you with her expert strategies
@@shirleydoris3777 Am much thrilled to see her other investors, I thought people don't know her. She is a very sincere woman who understands the challenges faced by beginners, I started trading under her guidance after seeing her interview with CNBC. that woman is really a great woman.
Keep in mind that "Old Money" was once "New Money" a long time ago. So it doesn't really matter as long as that money came from good hard work. Just cherish other people's achievement.
Yes. I’d like my grandkids to be old money AND to be producers.
Producers of what?
@@yungtreyzo Money
@@georgegallagher5303 lmao
It's not possible
An observation -
Old money is NOT trendy. Trendy can be profitable for those selling but constantly changing trends but trendy people waste money always trying to be in style and fashion. "Fashion is a name we give things so ugly we have to change them every six months." paraphrased from Oscar Wilde.
Old money buys things that last and knows to never pay more than something is worth regardless of the asking price. Biggest wastes of money are clothes and always having the newest electronics. Next biggest is the new car. A Certified Pre-Owned usually has a better warranty, longer and more miles, and someone who had to show off took the 20-40% depreciation "narcissist fee" hit having to have a new one. If you do acquire new - drive it till it drops. MY paternal grandfather died before his Mercedes did and we still have it with 600,000 + miles on it. I still have my maternal Grandfathers cuff links, handed down, his shoes, belts, and dressing chair. As well as all their furniture. Acquire assets that last. Parting shot - rich and wealthy are NOT the same thing.
Indeed
New money sometimes waste there own wealth for the sake of the trend.
Thanks Alux! NM! This is interesting because I've seen generational wealth and extreme poverty. My maternal great grandfathers had lucrative real estate businesses in Jamaica, my grandma had a construction business, and my mom was a doctor. But when my mom immigrated to the US, there was a family feud. So I grew up in poverty while my uncles cannibalized the estate after my grandma passed. My mom & I clashed since she grew up in luxury, but I'm starting to see where she's coming from. So there's some old money in my lineage, but since they blew it I'm building from scratch after college. Good to keep in mind as I grind. Thanks again!
This is the smoothest segway into an ad (for the VPN) I've seen on UA-cam. Nice job.👍👍
Great scriptwriter!
I lost my job due to the coronavirus so i decided to start this channel, wish me luck!
Good luck! :)
Just subscribed. Good luck! Maybe post an intro video for the meanwhile.
But new money will become old money after this generation , and the old money was new money at once ,
No, what separates les nouveaux riches from the old money is that les nouveaux riches are stuck in this cycle where the first generation makes the money -> the next spends the money -> the 3rd generation are poor or middle class.. the cycle either repeats itself if they are lucky. They are entertainers of today, entrepreneurs, politicians, etc.
Old money is money that has transcended generations, endured 100+ years of wars, economic changes, trends, etc. Old money are: some aristocratic families, royalty, dynastic business tycoons and political families like the Vanderbilts or the Kennedys in the U.S
@@antoinedemm7533 bro you didn't undrestand meeeeee , i said the old money was new money and become old money , and the new money may become old money at the future you would see 2100 a family of jeff besoz like a family of kenedy .
Antoine de MM Yea Yea but there’s still room for new money to become old money. As long as these billionaires didn’t raise dumb kids(Well the entertainers and athletes no offense probably failed at this), their legacies have a shot at survival.
Unfortunately, New Money tends not to last the second generation. Only a few can eventually become old money.
@@antoinedemm7533 Lotto jackpot winners are Nouveau Riche.
To the Alux Team: I greatly enjoyed this video. Reminds me of German haute culture and also of my experiences at the Ivy League.
Although I am not a financially affluent person myself, I do consider myself affluent in knowledge, life experience and depth of experience.
And something that I can tell you is that your team hit the mark with this video. It's accurate.
So as to your question of old money vs. new money, I personally love the culture of old money. Many older generations of Ivy Leaguers are part of the Old Money world, here in the US, and being their friend, has given me so much insight.
To use an analogy, I would say that "adulthood is to Old Money, what adolescence is to New Money"
Old money is mature, secure and established. New money is immature, insecure and ahem, well, new.
Old Money is an elegant, centuries old oak tree: deep roots, meaningful traditions, a work of art. New money is a tall palm tree that shot up under plenty of water, wind and sunshine: eager to impress, ever sunny but also, generally shallow.
I am not at all impressed with new money (save for their hunger for innovation, change and cutting edge new tech). But with old money? Just about everything impresses me and I respect.
And because we are like minded and share common values, I tend to have enduring friendships with many who are O.M.
They have enriched my life beyond words--intellectually, experientially, culturally, spiritually and of course, socially--and I have enriched theirs with my international/cross cultural experiences.
And that is one thing they have plenty of: intellectual curiosity and respect for world heritage.
Thank you, Alux Team. You've elicited a world of happiness, gratitude and appreciation with this video ❤
You under rate and underestimate New Money. Do you know the level of drive, dedication and extreme, excessive, obsessive hard work required to become a New money today? I doubt you would understand. Every new money have something special...they have passed through fire and the universe deemed them qualified. Please respect them, i know what i'm talking about.
Anyone here gonna be new money in a couple of years? 💪
Is hippop a weapon?
ua-cam.com/video/HD9uO-B1t_U/v-deo.html
As 2nd and 3rd generation immigrant families, i guess it is new money, but how we got it was very hard work. Hopefully be old money for the 4th generation. With respect for the new and old money and how it was made with very hard work.
Amen
My best friend comes form old money (not going to name drop but he comes from a long line of lawyers).
If it's anything I learned is a lot of mental problems are solved with money. My bud went through a complete meltdown a year ago, so he took a semester off. Stayed at the lake house for a bit and did worked. He didn't have to work but his dad instills good discipline in him, and he's very thankful for it.
Edit:
He isn't snobbish at all. Once I found out he has money it shocked me for a while but I cooled it quickly. Never kissed up to him or anything, it was more a opportunity as at the time I was considering going to Law School and new his dad had grade A connections. His dad did say he'd write me a glowing recommendation but II decided against it, I prefer Software Engineering, and feel I made the right choice either way. We're still friends too. Cooled it down after a week or two, and even openly honestly apologized for it. He understood after I explained my background ( grew up very poor) and even offered me the law school thing ( again turned it down). He's a great bud, too bad I'm not that social or I'd hang out more. He understands though, we're both working hard in our lives.
The real difference is that the old money people were rich all their lifes. They got the best education, the best social network and other stuff since their young age. They were free all their lifes. That's a huge difference at the end of the day. Old money life's perspectives and retrospectives memories are their most precious treasure.
Coming from an old money family, my relatives have really high expectations from me, my siblings and my cousins to value and what our ancestors worked hard for
Same
@Wahrheit Siegt well it’s either you have to be part of the company and not follow your dreams or follow your dreams but it still has to be related to the family business. In our case, real estate, oil and banks. The good side is that your path is already laid for you but the things you want to do are limited. Plus trying to make a name for yourself and prove not just the heir.
You don't want to come back to where us poor people are at.
@Wahrheit Siegt everyone has their respective problems
@@lukeustaquio Do you feel happy despite these limitations/high expectations?
Old Money Superiority was just something the Old Money types who have their assets tied up in long term assets and trust funds (thanks to their prudent ancestors) created to still feel superior against the New Money types who are living their life freely spending what they have lol. Old Money doesn't automatically make you classy, and New Money doesn't make you some churlish gorilla. At the end of the day, the way you conduct yourself determines if you are a lady or a gentleman; and when it comes to money, what matters is that you have the freedom to enjoy and derive happiness from it.
So well put. I like to think of myself as new money with a dash of old money mindset😉
Thankyou, I’ve read so many comments literally worship old money. And all I see is people’s jealousy, no need to step on one person to lift the other!
@@manyi4success don't categorize yourself as new money
This is a sensible comment. This comment thread was full of people trying to feel superior about themselves by putting down others.
“Expect the best. Prepare for the worst. Capitalize on what comes.”
Zig Ziglar
@Wahrheit Siegt Have you watched the matrix😎? That's what the reality is kinda like. If God is one who created the laws of physics ,biology,chemistry. he can alter them, reshape them and so can the demonic spirits through magic coz they exist in a different plane of reality. After all science actually proved there are more than 3 dimensional plane of reality in quantum physics, those extra dimensions is where the spiritual world operates. Once again i am trying to tell you, you are stuck in Plato's allargory of the cave. We, born again Christians have come out of the cave and have seen the Sun🌅. Its really hard for me to explain to you what the sun looks like if you have never seen it.. it's for you to make a choice and take a leap of faith.. Jesus said "you can't please God without faith".. You know why their is little evidence of the extraordinary.. Jesus said (Mathew 16:4)A wicked and adulterous generation looks for a sign, but none will be given it except the sign of Jonah." Jesus then left them and went away. The sign of Jonah he referred to Jonah being swallowed by a fish and being vomited out after 3 days in old testament. This was a parable to what he knew he will be going to do. He knew that he will be killed and on the 3rd day, death will vomit him out, as he conquers death.. paying the fine of sins of the people who would believe..John 3:16 "For God loved the world that he sent his only begotten son whosoever believes in him will not perish but have everlasting life. Time is running short.. Satan's son (the Antichrist) is going to be revealed very soon. And the whole world will be deceived to worship him.
#bingeJesus
ua-cam.com/video/ybxSECS9jxY/v-deo.html
@@keyboardevangelist What a bunch of superstitious, pseudoscientific lunacy. Please stop using the comments section to recruit for your Bronze Age cult.
@@ToND1Ne why do you think the universe is so fine knife edge tuned for life that the dark energy required for the acceration for expansion of the universe is 0.000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000138. Sorry i left out some zeros there😅. That if it decreased or exceeded this number the universe couldn't have form?. Why is the golden ratio found in many things in nature? It is obviously intelligently designed. Why do you think the ability to focus of your brain can alter the physical attributes of your brain (neuralplasicity) if consciousness just arises from the brain? The mind is irreducible. Why does your mind(consciousness) have the ability to collapse the quantum wave functions of electrons when you observe them? The mind over matter idea.. consciousness is like a operating software in a hardware computer.. and first of all softwares need programmers. Do you know who claims to be that? Jeremiah 1:5 before i made you in your mother's womb i knew you i set you apart..have ever seen a program that just got coded on its own without any intelligence behind it? And yet The human DNA is said to have more than 3.1 billion bits of information and you just think somehow protein molecules just decided to form complex DNA structures to form the first microorganism without any intelligence behind it. You know currently physicists are saying that spacetime is emergent from 2-D information plane. That it might be just a holographic simulation. So then if it is a simulation then who made the simulation. John 1. In the beginning there was the "word". And the word was God and everything in existence was through him and for him. And the word became flesh to dwell amoung men. The word is Jesus christ and he is coming soooon to take what is his and to judge all of mankind in history. So once again like i said atheists are Trapped in plato's allegory of the cave. We , born again Christians is hard for us to explain to you how sunlight feel like if you need seen the sunlight. God is someone you experience. God wants you to take that step on your own. A leap of faith. Jesus said seek and you will find. The spiritual realm is real. And i have a hint that it can be scientifically proven now. Why do you think that we can only observe and measure the 4 dimensions of spacetime while quantum physics and advanced geometry have proven that more 8 dimensions of spacetime exist. The spiritual beings (demons,angels,the holy spirit) move through those extra dimensions we can't normally observe.. so yeah😅. I need much more blind faith to believe the religion of extraordinary accidents and conciedence called atheism.
Being able to save and grow money throughout generations deserve respect.
I definitely want my grand grand children and even the children of the next generations to have old money which is something I am pursuing because I understand what it is to be born in poverty, even though I came from old money. It just happened to be that my parents made mistakes so now I gotta get the bag and secure it.
*New Money? Old Money?*
As long as it creates cashflow 🙌🙌🙌
My man!!
@soapfanaddict link to her channel
This episode really had to me thinking about my legacy in life. I mean I don't want children but doesn't mean my money can't triangulate through my family. Great job #alux #NM
That was the goal of the video, to put things into perspective.
MN because Im manifesting!
Lol , a knee slapper!
If you're not ready to make unethical decisions and exploit people then you're not ready to be on these people's level.
So be it so be it so be it...
@@mariahyohannes being legally unethical is the key
Manifesting blood money? Yeahhhh ight BILLIONARES SHOULD NOT EXIST
As someone who had to struggle to get to where I am. I would say, ensure you give your child a foundation. But do not spoil them. NM
Personally, I prefer new money. I have great appreciation for people that work for their status, that build their empires from the ground
I think my grandchildren shouldn't have to suffer. So they should have all the basics. Including a good house and transportation ...... Beyond that, each individual should have to work for the stuff they want. It leads to a better appreciation.
I attended public schools, and was exposed to all classes of people the struggling and those who had to wear old worn out hand me downs to the doctors and lawyers kids.
The ones who were the old money I'm guessing because they refused to send their kids to private school (they can't compete and look down on others because they all had the same name brands)
The old money was discriminatory and rude to others, while the up and coming group was gentle to all.
I would prefer that each generation have a humble inheritance, $10,000 or less just to get them on their feet, and then the rest is up to them.
I went to school with a girl whose father inherited a chain of McDonald's restaurants.
She was spoiled, self absorbed got a Corvette on her 16th birthday. She never appreciated anything because she never had to struggle for it.
Same goes to a kid whose grandfather was in the oil and gas business.
That is why the twenty somethings are refusing to carry on the family business their grandfather's started, they are unaware of the hard work and struggles their grandfather & grandmothers went through to accomplish their goals, and don't appreciate them.
Instead, they refuse the family business so after their fathers retire, they either close shop, or sell it to a complete stranger, and take their inheritance in cash which gets spent quickly. 🙄🙄
this pretty much translates to "short term" vs "long term"
I want my grandkids to have an old money mindset with a new money heart
At the end of the day, you can't blame someone for inheriting money, but you can't blame someone for making it themselves either.
I'm handing down my money and my property to my children. I as well would expect them to give it to my grandchildren.
"It's like racism, both money." The most truthful statement I've ever heard about it.
It's like racism but with money
Snobs are everywhere, old and new.
Children can waste all what previous generations build up.
Exactly! I literally just said this
I agree with old money but I would teach my children to be thankful and understand hiw much hard work it is to reach that level in society.
So as black kid from Philly both NM and old money have always been an abstract idea to me. A language that I've spent a lot of time learning. I had a white mentor, he was basically my "rich dad" iykyk, who taught me personal finance, the internet and things like Alux have also been a great help, I'm in college on academic based scholarship studying finance and economics. I'm on the verge of being the first multi millionaire in my family and neighborhood... anyways to answer your question I think the black community at least in the US has never had old money and now is the time for that to be a possibility. But money has to be new before it can be old... which puts us in a weird position. Especially the ones that haven't even hit their first million like me. I've been fortunate enough to have a high five figure check and I'm 19... which is basically unheard of where I come from. So it takes a lot... Especially when your city is basically a low level war zone... literally casualties everyday. So I had to leave there to go to the college I'm at now but I want to be able to make new money and spend it all on solutions to fixing the problems in my community. Buy back the block if you will.
""You can't appreciate the stars in a Rolls-Royce if you don't appreciate the real stars at night."" 💎💎💎💎
I'd want my grandchildren to have old money and become new money. Having a safety net is great. Weaving it to be more durable is greater. It's gotta start with me, the NM!
Some people are new money and others are old money.
The real goal is to be “f the rules and live however you want” money.
So new money?
Now I understand why my father wears basic clothes when he can afford expensive ones now I understand why he uses old 911 cars rather than new 911cars
New money culture has its benefits, and is the foundation for evolving into old money. What trips people up is by not keeping sane and having some spiritual humility.
NM
A: I think everyone should be able to get their own. However with the support of their parents.
Thank you ALUX.
Do you know Ginimbi
"It's like racism" ... so THIS is the person that got hired for this job after I didn't hear back....good choice lmaoo
I'm glad they made that choice, I can hear the envy
Alfredo castillo au contraire, I’m successful enough not to need to work for them (I’m 25 and retired). I just thought it would be fun to educate others coming up in a fun way.
mike green the latter. Stocks, real estate, cryptocurrency, and other mediums!
@@jahnome Congress man now I know that I can retire too even tho am just coming in to the money world am 37 going 38 soon am not working for money anymore so at 25 man all the best man u should come to Jamaica sometime man
@@kanhaidenaro2574 I'm Jamaican actually! Canadian-born! I've been going since I was 6 months old but I'm definitely planning to after COVID
In sociology, barriers to access are not called "racism," as you said in the video, however. It is called a "gatekeeping mechanism."
Think of the Ivy League.
With 7%-9% admissions rates, don't you think of that as a "gatekeeping mechanism?"
That selectivity and exclusivity is intended to maintain the culture and reputation of the schools steady and consistent across generations.
That's how it works.
nice
As it should.
I think whether new or old money, each generation should have their own focused ambitions. Old moneys tendency towards nepotism leaves little room for younger generations individual ambitions and innovation, in fact in many cases it actively stifles those goals. New money on the other hand, while full of ambition and innovation tends to have less focus and therefore tends to waste time, energy and resources chasing after half formed ideas. Tilting at windmills so to speak. Stagnation can kill fortunes just as well as frivolity can. Which is why it’s important, in my opinion, to have focused, forward thinking ambitions and for the individuals who would weild them to be unafraid of the hard work that they require to implement.
Where are the rich/wealthy Africans? 🤔👀. There are plenty plenty wealthy families in Africa. Can you please make videos where rich/wealthy Africans are are also included? Thank you really appreciate it. And thank you for the amazing quality videos.
NM....used to have family money, but blew it all and ended up with alcohol addiction (same with my father). Hard to get back up there, but worth while after knowing what it’s like having money. I believe having purpose and being passionate about what you do is super important, but also financial goals are important at the same time 😀
The stock market has kept Many on suspense from
my perspective, I think investing in crypto currency
will be a great choice
Yeah exactly
Crypto and gold will be a very good investment
@@willycoldberg7076 absolutely
Crypto is the future
This is the best time to start up an investment
@@mullerjackson8614 Yeah you gotta see the favourable
market rise in crypto
Stock are good too....
I already have a multimillion dollar company, but though I'd be considered new money, I am severely introverted and hate being in the limelight, so to speak, so I still whisper my wealth unless someone specifically asks about it. I am even in the process of hiring someone to work with to become the "face" of my company so I don't have to be in the public eye.
All that aside,
NM!
Congratulations, your now a millionaire!!! :):):)
This is what I’m working towards. I do not want to be the face of my company. I want to be low key.
How do you go about this I’ve never heard of someone wanting another person to be the face of their company?
how to apply to be face of companY 😶
@@ivanaamoako2753 It's essentially the same as looking for someone to be in your advert. People will know their face as opposed to mine.
I agree with a lot of what you said but I know someone that was “old” money and they travelled the world and they didn’t brag about it but subtly mentioned all the places they went. So I think it’s the individual not the stereotype.
I am amazed by how Alux makes 15 points with a Bonus so consistently everyday ..... there is no other channel like Alux😍 ...
There really isn't!
Dress to impress,
No longer true, rich act like underdog and live easy life.
But they are a bit boring hehehe
I feel the opposite is true ... dressing to impress is still very logical ...the rich you are talking about are all tech billionaires and they are known more by their names than their faces ...those who are known by faces always dress to impress ( new money) ...if you're old money you have to dress to impress when professional
"It's like racism, but with money " 😂😂
didn't kno what old money was ..that is what they always called me at work....I was reserved & polite and kind and treated everyone same way & with same energy with much confidence ....they called me vintage or old money🙏🙏🙏
06:36 best plug I've seen on UA-cam, very smooth. I took me way too long to realise I was watching an ad, kudos.
Every generation should bring it to the next level
Random fact
On Mars, sunsets are blue.
-The Shades
Manners and education opens up doors 👏🏻
For me having either old or new money it is such a blessing!!!🙏🙏🙏💫 NM!!!
The poor keep talking about money, the rich keep talking about expensive things they own, the wealthy keep talking about ideas, old money means wealthy, not rich.
NM
Our "goal" is that, when we've transitioned from New Money to Old Money, we will have successfully educated our children and grandchildren into positions to acquire their own wealth, and maintain the wealth they've inherited.
17: new money knows how to enjoy it,old money dont.
18: new money knows they will die oneday, old money invest themselves somuch to secure their future gens that they forget to live their life,they forget that money is nothing but poce of papers.
bach in the 15th century, it was gold....
I think a combination of both. Teach them to leverage the advantages they have and improve themselves and help others grow with them and then be their own and take on their passions, monetize on it, and keep helping others. You have to educate them and preach that and do it yourself so you can be an example.
N.M. "When you help people what they want, you automatically get what you want". UNKNOWN.
There's wisdom in both the old and new.
As someone who is a part of old money , we still have fear of going into different businesses, technology , sadly our wealth dried up a generation back so its basically start from zero (but with some manners)
Bro u ain’t old money stop cappin
@@kenm4390 lol
I'm in the gray area of mixing these methods such as keeping up with trends however not flaunting money for obvious reasons, High net-worth is the bottom line.
Of course the old money hates publicity considering how many of them got it.
My dear Alux... today I want you to know how grateful I am for your videos. I have learnt so much about money; I don't think I would be so knowledgeable about this matter if it hadn't been for your excellent content. Mostly, women shy away from money-making but your videos, being gender neutral, have shown me that anyone can become rich if they have the right knowledge and take the right steps.
Thank you!
Each generation needs to create its own wealth. There’s no guarantee that the wealth left to our families will be maintained and therefore should be invested into things that create a better world for all life.
I could careless about the cars, I do like the sailboats ⛵️
White BMW: new money
Black BMW: old money
I can dig old money - more structured more focused.
A character in "Midnight in the Garden of Good & Evil" memorably said that he didn't mind being nouveau riche, because it's the "riche" that count.
I'm not a grandparent yet, but as a parent of 3 it seems like the answer depends on the children. For example, my daughter still doesn't seem to have learned how money actually works in society & why she's not getting it. She is still hopeful of falling in love & marrying someone with $. For her, she's going to need to learn (or not) via life's lessons. My oldest son though is 17 & has a pretty solid grip on basic & intermediary socioeconomic principals & an understanding of value. Ergo, he could be old $ & would probably end up providing lots of value to lots of people. 5 yr old can still go either way... heh
What if you’re making new money and behaving like old money people??
But you can't make money acting totally like a old money you have to get things done like new money as well
Jannat Malhotra what I mean is, what if you making new money but you don’t do stuff that new money makers do like social media, buying funny stuff and messed up experiences? Just saying... I love the old money rules and lifestyle and paying to stay anonymous is definitely what I took home from this
@@hamryalasad I get what you mean. I made my own money but live like old money and some people suspect but most have no idea how much I have. I don't make money for the stuff, but just like the game of making more. That said, I also simply have 'old money' tastes.
Heather Smith we couldn’t be more the same
@@Chahlie yes, I agree 👏🏻👏🏻👏🏻
Old money was once new money...
People with old money have had the longest of time with money and that’s why they are comfortable with it and know the monetary system in an out .
Nothing wrong with new money, if you have new money , it’s ok to be flashy and enjoy it, make the” mistakes “.... one day you will have enough experience and have old money . It is all about the experience . This is just a real life game , everyone starts off as a rookie and they move on to be pros ... that’s all .
I believe that the power to make money is a gift from god...
I strongly disagree with what you say
GTFOH
Amen, a lot of people are gifted.
Most definitely 🎯🎯
😊😊😊😊
I'm more into the idea of passing wealth through generations because everythings getting harder nowadays and I don't want my offspings to face the same difficulty in life as I did.
Would definitely love my grandkids to be old money.
That being said... in light of #15 I wonder whether a daoist attitude of 'change is the only constant' might be what's missing from the education of a lot of dynasties?..