@@madmax6827well if you ask for a loan you need to have a job and part of the money in the back is not like they are going to give you “other people’s money” if you’re broke
I listened to the social media dividend influencers and almost starved to death on the dividends. Until realized I need a huge sum of money to " live on dividends" that can be taken away at any time
I'm 72 yrs old, came from a poor family, left home at 16 yrs. I'm now 'rich'. Here's the difference in thinking: we did not buy lunch or coffee everyday, we took a thermos and sandwiches from home. We did not ever have new cars, just 1 used one hubby used to get to work while I stayed home with my small children and babysat for teachers. We had a tent and camping equipment and that's what we did for holidays. We would go out for dinner only 1-2 times a year. I learned how to cook good simple meals and I learned to sew my own clothes. I made my own baby food. Husband learned to build fences, sidewalks, fix plumbing and things around the house. We never paid anyone to do these things unless it was beyond our abilities. We saved our pennies, dimes, quarters in a can to buy a microwave or tv set, quite expensive back then. Our first home was a trailer on a large lot that we bought. Next house was half a duplex affordable on one wage. We got accustomed to living on one income. When I returned to work when kids were in school I saved my income and paid down our debt. After about 40 years of marriage, raised 2 kids we have paid for our trucks, an RV, our retirement home is mortgage free and has an income suite downstairs. I'm so glad I worked hard when I was young because now I am older and my health is not so robust. It's all about a frugal mind set and a solid work ethic. Simple, old fashioned but effective.
@@winifred3440 Yes, you are EXACTLY right. I did 'squander' my youth on supporting my husbands career , my sons lives and fun times we all enjoyed. I was a mother, and specifically the "helper" that God designated for Adam. Am I naturally submissive? No I am not. Good made my life into direct training more along the lines of a warrior. That said I learned a GREAT deal about life, love, strength, humility, patience and faith. I came to be born again recently and the JOY of hearing Gods voice, the direct, specific answers to specific prayers have been amazing, instructive AND most importantly...my life's lesson from God that I am indeed one of His chosen. Nothing OF ANY VALUE comes easily. So yes, I have 'squandered' my life on men not worthy of my Lord Jesus, His father our Creator. That said...I have touched and influenced others in ways I can see but truly have no real understanding of why, how or their journeys. And that's a bit painful but at 72 yrs old, I'm sure I'll be finding that understanding pretty soon. 💕🙏✝️
Ever heard of an ancient greek saying ”When health is absent, wisdom cannot reveal itself, art cannot manifest, strength cannot fight, wealth becomes useless & intelligence cannot be applied. ”? This means that good health is considered more valuable than wealth
@@lolafilms6661 Nonsense, only do it if science and common sense supports that. Yet choline and creatine and other animal compounds like omega-3 DHA/EPA and B12 are absent in plant based diet. So need to take supplements with this diet, not as simple as choosing that diet 😂.
Speak for yourself. I'm not 'poor people', I'm a working class man, living up a mountain in rural Portugal. In a house I bought for cash 21 years ago and renovated. I then moved back, grafted for another 10 years, cashed in my chips, returned and retired at 55. Never going back and could not give a Donald Duck about labels.
How is the beurocracy these days in Portugal. We tried to build a house in Lisbon and the council nearly killed us with red tape for years. Our health suffered and we left after 4 years. They dont like foreigners there too.
@@Prodrive1I have heard that Portugal is a wonderful place to live or to retire to from the US, but now I'm hearing a lot of negative things about what's going on there. Sorry you had to give up on your dream!
@@laissezfaire9762Facts! I was doing well financially then went broke. Happened 5-6 times. Now I am 28 and have learnt financial literacy. I know how to make money with no money and money. It is all about discipline and the desire to achieve your goals. By 30 I should be a millionaire.
@@PaulHardinghamA lots of people, including me.🙂 The name of the group called F.I.R.E. (Financial Independence Retire Early). I'm 48 and I don't need wage and workplace, my passive incomes work instead of me. And my family was poor until 1990.
As (successful) farmers like to put it, “never eat your seed corn.” For those who never had to go through the cycle of planting and harvesting, “seed corn” is the corn from the previous harvest you set aside to plant at the beginning of the next growing season. Every farmer knows that if he or his family EAT that corn, they will have less or nothing to plant, hence a reduced or non-existent crop at the next harvest time. If they keep doing this they will eventually starve to death.
Which is why multinationals like Monsanto contract farmers who grow with their GM products eg cotton prohibit the farmers from selling their seed to anyone other than... Monsanto!
A gross generalisation and over simplification. You don’t go from poor to rich, simply from what she says. Other factors make you rich in the first place.
There's truth in what she says. It's a mindset. A lot of people struggle with money because of bad habits. The majority of people will spend all the money they earn, with that attitude you can never be wealthy.
True. The Wife & I are just working stiffs and now our assets support our lifestyle. We saved our way into prosperity. It’s not how much money you make it is what you do with what you got.
As the saying goes when The owner of the company pulls up in his Ferrari with admiring glances from the workers, he says to the workers , ' If you work really hard and put in lots of overtime, i can get another one! '
@@longydongy1004 i solved that when I figured out that other people were after my money who didn’t need it. Take care of home with their real needs and put the rest to work. Everybody else has to wait, the money’s coming.
@@longydongy1004 Why is it so hard for you people to understand that the answer to this is to improve your skills so you maximize income AND be frugal so you minimize spending, so you maximize savings to invest? Are you people really not smart enough to understand basic logic like this? People like you are making the same whiney comments on this video, like 90% of comments are the same!!!
She has a point , I would say however , no point being the richest man in the graveyard , if you can get by and hold your head up high , then in today's world you are doing well , real wealth is not defined by money , generous of spirit and a few good friends around you , and if you are blessed with a lovely family you are wealthy beyond words , good health would also be a win ❤
U are both right… enjoy what u can .. if it’s about living a simple life with good friends and family and enough to get by.. or if it’s with trying to get resources and grifting and working out ways to make more money.. it’s all subjective, and based upon the life lived by an individual, and what he has been exposed to in his life.. either way.. peace to you both living organisms that has evolved from atoms and organic sludge to be able to communicate via this platform from completely differing parts of the earth and somehow connecting on a cosmic scale.. we are all going to end up being atoms again.. atoms to atoms.. this is just a temporary state of entropy.
They have more disposable income to invest. End of story. What do you expect from people who are living from paycheck to paycheck? Magically have all their bills paid so that they can do the same?
If being rich means to be born into a wealthy family, then investing in assets is a logical choice. They do it because they can, not because they are more intelligent. They're just lucky to have a good start in life.
I mean I went from paycheck to paycheck, to finally being debt free, I started investing and buying assets and I only have a pretty basic salary. I think we just make excuses when we can easily make a budget and build wealth.
Agreed. I refuse to feel sorry for most of them. They’ve been looking down their noses at me with their fancy clothes and nicer cars for the last 25 years while I’ve been quietly getting ahead.
most millionaires are first generation. The richer people are, the more the majority of their wealth is tied to a business. That’s the mega rich. The average millionaire has equity in a house and 401k or other investments. Ronald Read was a janitor and had millions when he died.
@@AJohnson0325 Ronald really should have enjoyed life,we’re here once only.. I’ve worked to many hours in my life 55 yo.. Built a business up and it’s about trying to enjoy your life as well has keeping the business a float..
The whole explanation was oversimplified. Poor people are poor because they don’t have much of an income - it is that simple. They cannot invest in something that they do not have.
What was said is super obvious, do you really think poor people will buy assets or even invest? Of course not, they will prioritize basic needs! What the point of this vid?
What some people do is spend their nights trying to figure out good passive income sources. What could you teach and create videos of, that people might be interested in? Could you cut out going to the pub except once a week and then put that savings into buying 1 stock in REITs or ETF? Essentially, you want KO stock as it pays dividends. Cutting out the Pub Factor (Latte factor for Americans) can help save a lot of money. Cutting out the vises - anything that does not do your health any good, learning container gardening to grow vegetables to save on grocery bill, Learning to get creative with cooking rice and legumes to get food budget to stretch further all could help. Pulling a second job for a while, and putting that money into KO (coca cola stock) or some other stock or REIT could help you, especially if you reinvest the dividends. These are things I'm doing now, but should have started doing ages ago.
Two types of rich people.. old money handed down from generation to generation and then there's the second type: thousands just like me that believed in themselves , worked damn hard and made huge sacrifices in the early years. You reap what you sow.. Too many people see rich people and want instant membership of what they have. It doesn't work like that and they just accumulate debt and spend their life paying it off. You have to put in hard graft and effort and the rewards will come. Not instantly but They will NEVER come if you build a life based on debt
@@VMM34 I tend to think that the people who create wealth should get to keep more of it, instead of the owners of the means of production. Your way of not having kids keeps the current injustice going. If someone hoards lots of cats, people think they've lost the plot and need to be taken to a psychiatric unit. If someone hoards lots of money, they are celebrated. I don't think there should be billionaires. It's obscene that people have an excess of money, when there are people starving and living in cardboard boxes. It's called greed and it's disgusting. We should be able to work sensible hours, have a healthy work life balance, and earn enough to live comfortably and have children without killing ourselves. The current trend is to keep wages as low as possible to rinse the workers for every penny and concentrate all the wealth to a few individuals at the top. No thanks.
1. Passive Income is key. Find something you are good at, that you might be able to teach online in videos. The trick is to be able to come up with content that can be exclusive to patreon subscribers, but have content UA-cam as well. You do need to be unique to stick out. 2. People are really gunho addicted on the British culture, the language. Yankees (Americans) eat this stuff up. 3. Pulling a second job for a while, and putting that money into KO (coca cola stock) or some other stock or REIT could help you, especially if you reinvest the dividends. 4. Eat more rice and legumes, as they are generally cheaper. Learn to container garden and grow your own vegetables. 5. It usually takes around 2 years for any video channel to start making money, and you won't get much, but if you work at it, you will develop more subscribers, especially if you upload routinely on a set schedule. 6. Try to survive taking the bus, walking or biking only. 7. Get used to keeping heat set at 15C, to save on heating bills. Set up sleeping forts to stay warmer at night. These are things I'm doing now, but should have started doing ages ago. I cut out the Pub Factor or Latte Factor for Americans, long ago. I don't buy rounds and I don't have people buy me a round either - I know, offensive to Brits, but money is tight. I just quit going to pubs or in my case, coffee shops for tea or eating out anywhere. I am an American, which is probably obvious, but am familiar with British culture and money drains. I tried to make my answer suitable for living in tenaments or flats. Unfortunately, I have no solution for the high cost of paper products. Best Wishes!
It is easy to say that rich get richer balh, blah, blah. but I see people make really stupid decisions. Like buying expensive cars. Do what I do. Buy an old Toyota with cash. Every time someone hits into it, take the insurance money and buy gold or invest in the stock market instead of the car. (If it is still drivable)
@nutech1810 hasn't ruined middle East.. you buy your oil from there..n rest of middle East countries.. you invaded and dropped your peace bombs..and RUINED IT.
So there you go poors just buy millions of dollars of assets that will give you a passive income..... It is just that easy..... bootstraps accomplished
I heard this explained a little differently. It said when poor people get a 100 dollars they will go out and buy the latest footwear etc, so people think they have money. But the footwear wears out and they have nothing left. Whereas if rich people get a hundred dollars they will invest it and make more money from it.
@@VMM34 AKA when poor people get a hundred dollars they buy shoes because they need a new pair since as you said footwear wears out..... especially when you are poor and walk or work in them. Rich people already have shoes so just throw their new 100 dollars on the pile of other money they have.
And there’s the other difference rich people understand it’s really hard so they think creatively and work hard to achieve poor people understand it’s really …..and that’s it they just never take action just quit at the first hurdle
@@skillcoiler Alan sugar from a poor background Theo pathitis poor background James Sinclair started as a clown 🤡 entertaining kids there’s loads of examples it’s not money that gets you over the first hurdle it’s knowledge and action
Very true but my friend has multiple rental properties and is now facing a huge inheritance tax problem for his kids and is questioning what he did it all for. He wished he spent more time with his late wife instead.
I am not after the material things in life. I am after what’s most valuable and meaningful. Most things in life are nothing but obstacles that are preventing us to see the real meaning of life and the reason why we are here on temporary basis.
Rich people treat money as a surplus because they have more money than they need or can fulfill their immediate desires. Also, they rarely start out poor or middle class, and therefore never have to dig themselves out the hole. It's why they like the phrase "pull yourself by your own bootstraps", because it sounds self-sufficient, but is instead impossible.
💯 These haters/doubters on this board have clearly never read The Millionaire Next Door. Next Door. Getting it yet, folks? Lots of us have millionaires Next Door, or down the street in a middle class (or worse) neighborhood that you'd never guess in a hundred years that he/she's a millionaire. Read the book. It'll blow your mind and change your mindset about money and how you deal with it.
I have no need to “impress” other by my wealth. I am amused by the need of others who only purchase designer clothing or accessories. Paying extra to have a crocodile or polo player on my shirt just doesn’t do anything for me. I recently purchased a car for my son, I went into the dealership wearing an old t-shirt and looking kind of shabby, I negotiated a good price and surprised the salesman by dropping cash on the car! Never take a loan on a car!
It’s not everyone that is rich that was born rich or ‘got lucky’. Many people actually put in the work to change their mindset and habit, and work real hard to become rich. The reason many people aren’t able to become rich is because of the amount of work (mental, physical and spiritual) required to be very rich. It’s just much easier to do the basic things and live a basic life. Being rich is more tasking in the brain and soul than you can ever imagine. But it’s also worth it when you see the benefits of your hard-work.
It's easier to believe that the game is rigged because if you believe otherwise, then massive action is required on your part. If I believe that you have to be born rich to be rich that makes things easy for me. Just kick back smoke some weed and watch TV cos hey, no matter what I do I'll never be rich. People cater to their own laziness when choosing their beliefs.
@thesower6577 the majority of posters on this video are losers, they are proud of it and they want the entire world to know 😆 reading what they post is like letting them take a dump on my brain. I don't think there's any hope for these people
Took a long time to understand this. The real power of money is not the experiences and stuff you can buy with it. The real power of money is what it enables you to not do. Lose your job and have bills and no emergency fund? You have to take the next job that comes your way. Even if you hate it. Have money or better yet multiple revenue streams? You can be picky and choosy on the next job you take or maybe not even take one at all.
She kind of did say that. “Rich people don’t go around living the lifestyle straight away” Ergo; they keep working until their assets make enough money for them.
I understand interest as exploitative, unethical, and downright stupid (if you have to pay for it). House cash price might be 300K but after 30 yrs, you have paid 700K. The guy who receives interest is getting money without hard labor.
@ShowBizJunkie I am curious where it is written that someone has to do hard labor. To make money. Have you never heard the saying. Work smarter, not harder. I was one of those people who paid interest. Then, I learned about interest and how it works. Interest never sleeps. Never takes a day off. Never goes on vacation. I am amazed how much money in interest people pay. To buy things just to try and impress others. Just to try and keep up with those other people. I am not a person who has a boat load of money. But many years ago, I decided not to live pay check to pay check. Because of that simple decision. I have not paid any interest in 18+ years. When you do not have all those monthly bills. Your bank account grows fast. The company I worked for outsourced my job. So, I retired early and purchased a motorhome. Now it was used, but I paid cash for it. For 5+ years, the wife and I have traveled our country. Made a bunch of new friends. There are multiple ways to receive interest. Here's a very simple way to receive money. Get a credit card that pays you back with cash rewards. Now understand this will Only work if you pay the card off every month. I have such a card and pay everything with it. Over the last 6 years, I have transferred 2200+$ into my savings account. I then use that money to purchase short-term (9 to 12 months) certificates. Then, keep reinvesting those certificates. You can understand how interest works for you. With some simple changes how you spend your money.
What u left out is they still have to pay bills they just have more leftover at the end of the month to invest. They pay themselves first. And if they’re short, they figure out a way to fix that
YES. The rich love their money more so than their fellow human beings and could care less to start a war if it means the war made them more money and gave them power and control over everything.
I realised this at a young age. Grafting all day and then come home and look at my investment portfolio. More often than not, my money invested made more money than I had earned in that day...........it is a wake up call once you understand this. Even when you sleep. your money is making more money.......strive to invest
You see? This information should be taught in school. Every kid should learn what is real life and how to make money. No kid should dream of becoming an employee, CEO or janitor, you still work for a rich person, not for yourself. Rich people pay the government to teach kids to work for rich men and aspire to careers in companies owned by rich people.
@carlyndolphin good for you. Bad for 90% of people who go to sleep with an empty stomach. The economy can work well if the people have higher morals. Not only if people are selfish.
Stock's are crashing, Bitcoin Investment right now will be at every wise individual list in a month you we be ecstatic with the decision you make today
Yes!!! I started on investing about 5 years ago… it’s nice to watch my investments grow and make a little passive income which grows every year. One day I’ll be rich !
She is correct. I made the mistake of not investing in Real Estate in the Bay Area, thirty years ago. I could’ve bought a nice, one bedroom condo in Oakland . I bought a two bedroom townhome in Berkeley a few years later but I sold it ten years later for almost three times what I paid for it. I should’ve kept it. It would be worth five times what I paid for it today.
Rich people also have quite a bit of risk capital. Poor people in middle-class people don’t have the same amount it’s limited and sometimes depending on financial situations they have to make up for losses that takes them out of those areas.
Return on assets work for you when they reach a high enough value. For example, how much money do you need in mutual funds or high yield deposits to use the dividends, interests, etc to live comfortably? It would take 2 million to get 100k a year on a 5% return. 2 million in well diversified stocks could yield 4.3 million in 10 years and 9.3 million in 20 years on 8% return. Sounds simple, right? We just need to do that one thing rich people do that middle class and poor can’t, except… there’s less money to start with. 10k on 5% is 500 a year. 10k in stocks on 8% return is 18.5k after 10 years. Low and middle class salaries go straight to everyday expenses. Getting a large amount on return takes until retirement and that’s if you’re lucky.
Rich people are multi billionaires, it’s not about assets anymore, it’s about vineyard, art works, international projects, assets are land, skyscrapers. Middle classes are about property assets.
Absolute truth! I see this every day and shake my head in wonder. Most working people confuse income with assets! Most people live from paycheck to paycheck! Most people do not have the discipline to build wealth. After college I spent 10 years building wealth; living on 20% of my paycheck. Now in my 60’s I am a multimillionaire and live comfortably on my assets. Do not put yourself into financial bondage. Live well below your means and find financial freedom.
What you are saying is one path to live and congratulations. But don’t tell me those 10 years were to beautiful because you are lying somewhere. I agree with you that you can make most miserable 10 years and then start investing, and you were smart enough to invest in something that made you millionaire. But you took a risk to be a millionaire. The risk that you didn’t live 10 years. And if something would have happened in the last year of those 10 ….. anyway not good to be pessimistic. Life is about risks. Good to you that it worked for you.
I've been saying it for years. You must adopt the attitude when you are young that you don't care what other people think about you. You must. Then when you buy a car, only buy one you can pay cash for. Never finance an asset that depreciates in value. Your home, only get one that you can afford comfortably. Take the extra money you save and invest it. When you get old you will never regret it.
There is no such a type of person as a rich person. A person who has a lot of money, has a higher level of disposable income. Ordinary wage earners pay a much higher percentage of their earnings in tax than those who run a large corporation. If the food you eat generates the energy that is required for you to burn physically doing the job that the business person profits from, then everything you eat, should be tax deductible.
Conclusion:
If you don’t have money, you don’t have assets 😂😂
Yes, it works like gravity
You can have assets if you use OPM (Other People's Money), i.e. debt.
@@madmax6827 agree. If you are lucky you get more return on your assets than the costs of debt and other expenses.
@@madmax6827well if you ask for a loan you need to have a job and part of the money in the back is not like they are going to give you “other people’s money” if you’re broke
Not completely true, it's how you use your money, are you buying assets or liabilities
I stopped eating for 6 months so I could invest in "assets". I died waiting for my first bi-annual dividend payment.
😂😂😂
I listened to the social media dividend influencers and almost starved to death on the dividends. Until realized I need a huge sum of money to " live on dividends" that can be taken away at any time
Hope you didn't forget to add me to your will!
Based
R.I.P Ron. At least you give it a shot.
I'm 72 yrs old, came from a poor family, left home at 16 yrs. I'm now 'rich'. Here's the difference in thinking: we did not buy lunch or coffee everyday, we took a thermos and sandwiches from home. We did not ever have new cars, just 1 used one hubby used to get to work while I stayed home with my small children and babysat for teachers. We had a tent and camping equipment and that's what we did for holidays. We would go out for dinner only 1-2 times a year. I learned how to cook good simple meals and I learned to sew my own clothes. I made my own baby food. Husband learned to build fences, sidewalks, fix plumbing and things around the house. We never paid anyone to do these things unless it was beyond our abilities. We saved our pennies, dimes, quarters in a can to buy a microwave or tv set, quite expensive back then. Our first home was a trailer on a large lot that we bought. Next house was half a duplex affordable on one wage. We got accustomed to living on one income. When I returned to work when kids were in school I saved my income and paid down our debt. After about 40 years of marriage, raised 2 kids we have paid for our trucks, an RV, our retirement home is mortgage free and has an income suite downstairs. I'm so glad I worked hard when I was young because now I am older and my health is not so robust. It's all about a frugal mind set and a solid work ethic. Simple, old fashioned but effective.
You squandered your youth tho, you’re now old and have limited time to enjoy your things.
@@winifred3440 Yes, you are EXACTLY right. I did 'squander' my youth on supporting my husbands career , my sons lives and fun times we all enjoyed. I was a mother, and specifically the "helper" that God designated for Adam. Am I naturally submissive? No I am not. Good made my life into direct training more along the lines of a warrior. That said I learned a GREAT deal about life, love, strength, humility, patience and faith. I came to be born again recently and the JOY of hearing Gods voice, the direct, specific answers to specific prayers have been amazing, instructive AND most importantly...my life's lesson from God that I am indeed one of His chosen. Nothing OF ANY VALUE comes easily. So yes, I have 'squandered' my life on men not worthy of my Lord Jesus, His father our Creator. That said...I have touched and influenced others in ways I can see but truly have no real understanding of why, how or their journeys. And that's a bit painful but at 72 yrs old, I'm sure I'll be finding that understanding pretty soon. 💕🙏✝️
@@winifred3440 And your going to be working until your 80, because you like flash cars and stuff to impress!
Very good! It’s really quite simple isn’t it?
@@winifred3440And you’re squandering your most productive years. Poor mindset.
Ever heard of an ancient greek saying ”When health is absent, wisdom cannot reveal itself, art cannot manifest, strength cannot fight, wealth becomes useless & intelligence cannot be applied. ”? This means that good health is considered more valuable than wealth
Truth. The richest man on earth would trade all his fortune for just one more day of healthy life.
@@tw8464I'll give him one day of my life for only half his wealth. I can spare it.
Well said 👏 😊
True
So go plant 🌱 based
@@lolafilms6661 Nonsense, only do it if science and common sense supports that. Yet choline and creatine and other animal compounds like omega-3 DHA/EPA and B12 are absent in plant based diet. So need to take supplements with this diet, not as simple as choosing that diet 😂.
Speak for yourself. I'm not 'poor people', I'm a working class man, living up a mountain in rural Portugal. In a house I bought for cash 21 years ago and renovated. I then moved back, grafted for another 10 years, cashed in my chips, returned and retired at 55. Never going back and could not give a Donald Duck about labels.
Middle class ypu lad
Well done
How is the beurocracy these days in Portugal. We tried to build a house in Lisbon and the council nearly killed us with red tape for years. Our health suffered and we left after 4 years. They dont like foreigners there too.
@@Prodrive1I have heard that Portugal is a wonderful place to live or to retire to from the US, but now I'm hearing a lot of negative things about what's going on there. Sorry you had to give up on your dream!
@@Savannah-ed4rv do not do anything business wise there!! Or deal with their Councils. Your health will suffer as did ours. Trust me.
I work 7pm - 8am , still can't afford good holiday- bills,bills bills. We all can't be rich. For a poor person, good health is beyond riches
Without good health you really don’t have anything
The one thing they do diferent is born diferent most of them born alredy well off.
You need to cut down on the 13hours at work and some bills have to go
Amen!!!
❤🙏❤️
If it were this simple, we'd all be rich.
No. The idea is simple, but the discipline is the hard part.
@@laissezfaire9762Facts! I was doing well financially then went broke. Happened 5-6 times. Now I am 28 and have learnt financial literacy. I know how to make money with no money and money. It is all about discipline and the desire to achieve your goals. By 30 I should be a millionaire.
It may well be that "simple" but in reality how many people do it?
It is simple though, you just need loads of money to start with 🤔
@@PaulHardinghamA lots of people, including me.🙂 The name of the group called F.I.R.E. (Financial Independence Retire Early). I'm 48 and I don't need wage and workplace, my passive incomes work instead of me. And my family was poor until 1990.
As (successful) farmers like to put it, “never eat your seed corn.” For those who never had to go through the cycle of planting and harvesting, “seed corn” is the corn from the previous harvest you set aside to plant at the beginning of the next growing season. Every farmer knows that if he or his family EAT that corn, they will have less or nothing to plant, hence a reduced or non-existent crop at the next harvest time. If they keep doing this they will eventually starve to death.
Great Analogy. ! Thank You
Wonderful and thanks to farmers we can all eat! Especially in the west where most people don’t grow their own food ❤
Which is why multinationals like Monsanto contract farmers who grow with their GM products eg cotton prohibit the farmers from selling their seed to anyone other than... Monsanto!
Well and simply said😊👏
Conclusion: buy yourself some rich parents
Best idea ever!
There are two ways to make money ‼️🇨🇦
1) Man at work
2) Money at work
BEST comment ever!!!
Or marry into a rich family..
Son to rich parents is the best job one should ever work 😂
A gross generalisation and over simplification. You don’t go from poor to rich, simply from what she says. Other factors make you rich in the first place.
Oh, I have seen poor people make really stupid decisions. Buy a TV instead of food.
Yes, for me she sounds like poor people making a mistake. The fact is, unless you have some excess money, you cannot make money working for you.
You Invest money If you got some savings to spare
If you don't then you don't Invest
You can start off with very little and become very rich, it just takes time, lots of time, start young
There's truth in what she says. It's a mindset. A lot of people struggle with money because of bad habits. The majority of people will spend all the money they earn, with that attitude you can never be wealthy.
“Gold is Money, everything else is Credit” - JP Morgan 🧐 by this Autumn everyone will understand 😉
💯
Some people are so poor that all they have is money 💰
Think about that.
I know what she means though, middle class chase status symbols and are no better off than the proletariat
Poor people work 7 am untill 11pm with split shift for example cooks, waiters, nurse etc.. and they do many times 60 hours a week ca.
I work 7am til 8 pm😊
No, that is a lot more than 8 hours per day.
Whoa, what kind of job is that!??
@@JW1_1Factory work.
@@joshbryantmashida1011no one asked.
True. The Wife & I are just working stiffs and now our assets support our lifestyle.
We saved our way into prosperity. It’s not how much money you make it is what you do with what you got.
No
@@katarzynamariamuszynska2811 Yes. Or you can keep coping instead of learning something 😂.
As the saying goes when The owner of the company pulls up in his Ferrari with admiring glances from the workers, he says to the workers , ' If you work really hard and put in lots of overtime, i can get another one! '
Facts
You can either work for money or have money work for you. It really works.
Problem is having enough money in the first place to work for you
@@longydongy1004 i solved that when I figured out that other people were after my money who didn’t need it. Take care of home with their real needs and put the rest to work. Everybody else has to wait, the money’s coming.
@@longydongy1004 Why is it so hard for you people to understand that the answer to this is to improve your skills so you maximize income AND be frugal so you minimize spending, so you maximize savings to invest? Are you people really not smart enough to understand basic logic like this? People like you are making the same whiney comments on this video, like 90% of comments are the same!!!
@@EnderViBrittania whatchya be meanin wit you pipow!?!?
@@longydongy1004What the 'ells pipow?🥴
She has a point , I would say however , no point being the richest man in the graveyard , if you can get by and hold your head up high , then in today's world you are doing well , real wealth is not defined by money , generous of spirit and a few good friends around you , and if you are blessed with a lovely family you are wealthy beyond words , good health would also be a win ❤
It has nothing to do with being the richest in the graveyard it's about the lifestyle you live before you get there. For that you need $$.
@@J-Bird1234 I don,t agree , sounds like stress ,
U are both right… enjoy what u can .. if it’s about living a simple life with good friends and family and enough to get by.. or if it’s with trying to get resources and grifting and working out ways to make more money.. it’s all subjective, and based upon the life lived by an individual, and what he has been exposed to in his life.. either way.. peace to you both living organisms that has evolved from atoms and organic sludge to be able to communicate via this platform from completely differing parts of the earth and somehow connecting on a cosmic scale.. we are all going to end up being atoms again.. atoms to atoms.. this is just a temporary state of entropy.
Yes I am a WINNER THANKYOU and you are a WINNER
True but money gives you more options to be happy & your quality of life is better
Don't work for money, have your money work for you.
And property! A lot of people I know have property that can become generational wealth and they can’t see or won’t hear it
True
Bullshit money cant work, only people can work...
I like working for money.
What money though? 😂
The first million is always the hardest to earn 😂
How about the first 1k 😅
Being poor can be very expensive
This is so true. My brother was one if those rich people. But sadly he passed away early before enjoying his wealth 😢
They have more disposable income to invest. End of story. What do you expect from people who are living from paycheck to paycheck? Magically have all their bills paid so that they can do the same?
Well I mean they just were given a few million from their parents..... so go do that obviously... bootstraps accomplished...
These are the type of people that make an unfair society all for their own selfish wants…
If being rich means to be born into a wealthy family, then investing in assets is a logical choice. They do it because they can, not because they are more intelligent. They're just lucky to have a good start in life.
I mean I went from paycheck to paycheck, to finally being debt free, I started investing and buying assets and I only have a pretty basic salary. I think we just make excuses when we can easily make a budget and build wealth.
I wish people would just tell the bare bones truth. They were born rich. Starts and ends there.
True for most middle class people. It’s a shame that none of them will listen and make a list of excuses 😢
Yeah lol, see 90% of comments to this video for evidence of what you said 😂.
Agreed. I refuse to feel sorry for most of them. They’ve been looking down their noses at me with their fancy clothes and nicer cars for the last 25 years while I’ve been quietly getting ahead.
Definitely a simplification of the path to wealth but I am impressed that it draws so many views. Good job!
Most rich pple inherit . It’s generational wealth simple as that
That’s actually not true. Most make their wealth from setting up businesses and investing
most millionaires are first generation. The richer people are, the more the majority of their wealth is tied to a business. That’s the mega rich. The average millionaire has equity in a house and 401k or other investments. Ronald Read was a janitor and had millions when he died.
A lazy response for other's hard work.....
Many will deny this, but it is the truth!
@@AJohnson0325
Ronald really should have enjoyed life,we’re here once only..
I’ve worked to many hours in my life 55 yo..
Built a business up and it’s about trying to enjoy your life as well has keeping the business a float..
infact the most rich people dont care about an expensive lifestyle. They do everything for fun.
Yes, trying to look rich is a poor and middle class game. Rich people generally don’t care to impress others, they already know they are rich.
Really? So, who is buying those 30 - and 40 million dollar homes? People with EBT cards
They dont pay tax on it, simple.
The whole explanation was oversimplified. Poor people are poor because they don’t have much of an income - it is that simple. They cannot invest in something that they do not have.
"It's oversimplified!" Cry to your mom.
What was said is super obvious, do you really think poor people will buy assets or even invest? Of course not, they will prioritize basic needs! What the point of this vid?
In general poor people have a lower IQ. They also tend to have more babies and will have a baby even though they have no money to get basic needs met
To rub it into our poor faces 😂
Where possible, use the money as a tool and not to buy a pint or rounds every week. I see work colleagues fall foul of habit and then complain.
There’s a lot of things that are “obvious” but do you do it? Mr Obvious. Come on you cant be that simple
What some people do is spend their nights trying to figure out good passive income sources. What could you teach and create videos of, that people might be interested in? Could you cut out going to the pub except once a week and then put that savings into buying 1 stock in REITs or ETF? Essentially, you want KO stock as it pays dividends.
Cutting out the Pub Factor (Latte factor for Americans) can help save a lot of money. Cutting out the vises - anything that does not do your health any good, learning container gardening to grow vegetables to save on grocery bill, Learning to get creative with cooking rice and legumes to get food budget to stretch further all could help.
Pulling a second job for a while, and putting that money into KO (coca cola stock) or some other stock or REIT could help you, especially if you reinvest the dividends.
These are things I'm doing now, but should have started doing ages ago.
"Work harder on yourself
than you do on your job!"
Yep! ♥️
I thought the difference was the rich people avoid paying their taxes like the poor people have to 😂
Two types of rich people.. old money handed down from generation to generation and then there's the second type: thousands just like me that believed in themselves , worked damn hard and made huge sacrifices in the early years. You reap what you sow.. Too many people see rich people and want instant membership of what they have. It doesn't work like that and they just accumulate debt and spend their life paying it off. You have to put in hard graft and effort and the rewards will come. Not instantly but They will NEVER come if you build a life based on debt
There are millions of people who have worked hard for decades & have never become well-off.
@@DavidZ4-gg3dm There are three variables: hard work, wise investment, luck.
@@DavidZ4-gg3dm Because they are illiterate in personal finance, and don’t care to learn.
We know...but how the hell do you get out of being poor? There's never any left over for buying assets. We bust a gut to survive.
You shouldn't have kids. Kids will drain every penny you earn
@@VMM34 I tend to think that the people who create wealth should get to keep more of it, instead of the owners of the means of production. Your way of not having kids keeps the current injustice going. If someone hoards lots of cats, people think they've lost the plot and need to be taken to a psychiatric unit. If someone hoards lots of money, they are celebrated. I don't think there should be billionaires. It's obscene that people have an excess of money, when there are people starving and living in cardboard boxes. It's called greed and it's disgusting. We should be able to work sensible hours, have a healthy work life balance, and earn enough to live comfortably and have children without killing ourselves. The current trend is to keep wages as low as possible to rinse the workers for every penny and concentrate all the wealth to a few individuals at the top. No thanks.
@@VMM34 Yeah, look at gays.
1. Passive Income is key.
Find something you are good at, that you might be able to teach online in videos. The trick is to be able to come up with content that can be exclusive to patreon subscribers, but have content UA-cam as well. You do need to be unique to stick out.
2. People are really gunho addicted on the British culture, the language. Yankees (Americans) eat this stuff up.
3. Pulling a second job for a while, and putting that money into KO (coca cola stock) or some other stock or REIT could help you, especially if you reinvest the dividends.
4. Eat more rice and legumes, as they are generally cheaper. Learn to container garden and grow your own vegetables.
5. It usually takes around 2 years for any video channel to start making money, and you won't get much, but if you work at it, you will develop more subscribers, especially if you upload routinely on a set schedule.
6. Try to survive taking the bus, walking or biking only.
7. Get used to keeping heat set at 15C, to save on heating bills. Set up sleeping forts to stay warmer at night.
These are things I'm doing now, but should have started doing ages ago. I cut out the Pub Factor or Latte Factor for Americans, long ago. I don't buy rounds and I don't have people buy me a round either - I know, offensive to Brits, but money is tight. I just quit going to pubs or in my case, coffee shops for tea or eating out anywhere. I am an American, which is probably obvious, but am familiar with British culture and money drains. I tried to make my answer suitable for living in tenaments or flats. Unfortunately, I have no solution for the high cost of paper products.
Best Wishes!
@@VMM34I disagree. Kids are the biggest blessing in my life. Having kids inspires me to achieve far more than I ever would have otherwise.
The rich get richer and the poor get poorer
This is the the reason interest is prohibited in Islam
@@AzharHussain-vc9goIslam ruins every country lol
Do tell how you came to that conclusion
It is easy to say that rich get richer balh, blah, blah. but I see people make really stupid decisions. Like buying expensive cars. Do what I do. Buy an old Toyota with cash. Every time someone hits into it, take the insurance money and buy gold or invest in the stock market instead of the car. (If it is still drivable)
@nutech1810 hasn't ruined middle East.. you buy your oil from there..n rest of middle East countries.. you invaded and dropped your peace bombs..and RUINED IT.
To poor people, money is survival. To rich people, money is a tool.
We are much richer than we think we are😂😂😂
So there you go poors just buy millions of dollars of assets that will give you a passive income..... It is just that easy..... bootstraps accomplished
I heard this explained a little differently. It said when poor people get a 100 dollars they will go out and buy the latest footwear etc, so people think they have money. But the footwear wears out and they have nothing left. Whereas if rich people get a hundred dollars they will invest it and make more money from it.
@@VMM34 AKA when poor people get a hundred dollars they buy shoes because they need a new pair since as you said footwear wears out..... especially when you are poor and walk or work in them. Rich people already have shoes so just throw their new 100 dollars on the pile of other money they have.
And there’s the other difference rich people understand it’s really hard so they think creatively and work hard to achieve poor people understand it’s really …..and that’s it they just never take action just quit at the first hurdle
@@markarmstead481 You are missing the point..... rich people are born PAST the first 50 hurdles.
@@skillcoiler Alan sugar from a poor background Theo pathitis poor background James Sinclair started as a clown 🤡 entertaining kids there’s loads of examples it’s not money that gets you over the first hurdle it’s knowledge and action
The real trick is knowing other rich people with investing opportunities
Or do your own research, the financial system is about to collapse, great time to buy into the next system!
Which you won't if you're poor. You won't have enough money to invest either.
Rich ppl won't tell you, trust me!
No, that's not the real trick. Look into this book and mindset first: The Total Money Makeover. Happy learning and wealth building...
@@Fishin4funout4trout How's that going to help you if you're broke?
Very true but my friend has multiple rental properties and is now facing a huge inheritance tax problem for his kids and is questioning what he did it all for. He wished he spent more time with his late wife instead.
I am not after the material things in life. I am after what’s most valuable and meaningful. Most things in life are nothing but obstacles that are preventing us to see the real meaning of life and the reason why we are here on temporary basis.
To cross from one class to the other is the real struggle.. it’s virtually impossible but what she said is true when you are there already
"The 'poor' class" 😂
No idea how much is
What’s funny?
Beautiful lady...! I love her...and, she's right! Smart AND beautiful!!!!😊
"It's not what they do with their money". A fraction of a second later, "They do this one thing differently with their money".
Rich people treat money as a surplus because they have more money than they need or can fulfill their immediate desires. Also, they rarely start out poor or middle class, and therefore never have to dig themselves out the hole. It's why they like the phrase "pull yourself by your own bootstraps", because it sounds self-sufficient, but is instead impossible.
Keep coping because you can’t understand a basic video. Your poor attitude is the number one thing holding you back.
“It’s not what they do with their money…”
“They do this …”
So, she's saying that rich people "INVEST" their money to make more money. I'm shocked!
Either you work for someone or someone works for you ..simple as that 😊
Money is freedom. The rich leverage their money to create freedom.
There what 😂 your 🫵 taxpayers' money 📈 for them to be richer. Have you heard printing 💵 machine. Err
Money is actually salvery.
Often poor people try to look rich and rich people don't give a crap how people perceive them for rich or for poor......
Yes!
💯 These haters/doubters on this board have clearly never read The Millionaire Next Door. Next Door. Getting it yet, folks? Lots of us have millionaires Next Door, or down the street in a middle class (or worse) neighborhood that you'd never guess in a hundred years that he/she's a millionaire. Read the book. It'll blow your mind and change your mindset about money and how you deal with it.
I have no need to “impress” other by my wealth. I am amused by the need of others who only purchase designer clothing or accessories. Paying extra to have a crocodile or polo player on my shirt just doesn’t do anything for me. I recently purchased a car for my son, I went into the dealership wearing an old t-shirt and looking kind of shabby, I negotiated a good price and surprised the salesman by dropping cash on the car! Never take a loan on a car!
No matter how rich you are, you can't take anything with you after you die…
I love how the answer is never they just have more money 😂
It’s not everyone that is rich that was born rich or ‘got lucky’. Many people actually put in the work to change their mindset and habit, and work real hard to become rich. The reason many people aren’t able to become rich is because of the amount of work (mental, physical and spiritual) required to be very rich. It’s just much easier to do the basic things and live a basic life. Being rich is more tasking in the brain and soul than you can ever imagine. But it’s also worth it when you see the benefits of your hard-work.
It's easier to believe that the game is rigged because if you believe otherwise, then massive action is required on your part. If I believe that you have to be born rich to be rich that makes things easy for me. Just kick back smoke some weed and watch TV cos hey, no matter what I do I'll never be rich. People cater to their own laziness when choosing their beliefs.
@@XxowendanxX yeah my point exactly. Growth requires responsibility
@thesower6577 the majority of posters on this video are losers, they are proud of it and they want the entire world to know 😆 reading what they post is like letting them take a dump on my brain. I don't think there's any hope for these people
Mad how I work a job and I’m classed as poor 🤯
Took a long time to understand this. The real power of money is not the experiences and stuff you can buy with it. The real power of money is what it enables you to not do. Lose your job and have bills and no emergency fund? You have to take the next job that comes your way. Even if you hate it. Have money or better yet multiple revenue streams? You can be picky and choosy on the next job you take or maybe not even take one at all.
Rich people use their money to keep others poor.
True but what you left out was that they worked a 9-5 before they got rich
She kind of did say that.
“Rich people don’t go around living the lifestyle straight away”
Ergo; they keep working until their assets make enough money for them.
@@willemkoning yeh and how do they get these assets? from working right not thin air. She should of been more direct.
@@t-bone7988 You’re right, for you she should have been even more clear, apparently
@@willemkoning lol good one
Yep.
Girl just discovered investing.
I agree with her 100%. Keep money in its proper place servitude.
8 times out of 10, rich people have rich parents.
Rich people keep investing their money into assets until they move to 6 by 2 feet underground apartment.
And then their children inherit it
@@yankeedoodle6293and squander it on new cars and vacations.
People who understand interest receive it. People who do not understand interest pay it.
I understand interest as exploitative, unethical, and downright stupid (if you have to pay for it). House cash price might be 300K but after 30 yrs, you have paid 700K. The guy who receives interest is getting money without hard labor.
@ShowBizJunkie I am curious where it is written that someone has to do hard labor. To make money.
Have you never heard the saying. Work smarter, not harder. I was one of those people who paid interest. Then, I learned about interest and how it works.
Interest never sleeps. Never takes a day off. Never goes on vacation. I am amazed how much money in interest people pay. To buy things just to try and impress others. Just to try and keep up with those other people.
I am not a person who has a boat load of money. But many years ago, I decided not to live pay check to pay check. Because of that simple decision. I have not paid any interest in 18+ years. When you do not have all those monthly bills. Your bank account grows fast.
The company I worked for outsourced my job. So, I retired early and purchased a motorhome. Now it was used, but I paid cash for it. For 5+ years, the wife and I have traveled our country. Made a bunch of new friends.
There are multiple ways to receive interest. Here's a very simple way to receive money. Get a credit card that pays you back with cash rewards. Now understand this will Only work if you pay the card off every month. I have such a card and pay everything with it. Over the last 6 years, I have transferred 2200+$ into my savings account. I then use that money to purchase short-term (9 to 12 months) certificates. Then, keep reinvesting those certificates.
You can understand how interest works for you. With some simple changes how you spend your money.
"this is America you're either the duper or the dupee"
- Frank Reynolds
" All people are created equal . " In Canada we do not have a " class " society .
Nothing more satisfying than being the richest person in the cemetery!
The difference between financially rich and poor is what they inherit from their parents
What u left out is they still have to pay bills they just have more leftover at the end of the month to invest. They pay themselves first. And if they’re short, they figure out a way to fix that
Like they say “ it’s easy to make money if you have money “
Some rich people " live the lifestyle" from birth.
I’m rich and I approve this message
To simply say it… rich people go after poor people, so poor people stay poor so they can be rich.
YES. The rich love their money more so than their fellow human beings and could care less to start a war if it means the war made them more money and gave them power and control over everything.
Complete nonsense🙈!
Dumbest comment on this video award goes to… @Thaliva123 😂😂
Assets don't work for rich people , poor people work to keep their assets alive
I realised this at a young age. Grafting all day and then come home and look at my investment portfolio. More often than not, my money invested made more money than I had earned in that day...........it is a wake up call once you understand this. Even when you sleep. your money is making more money.......strive to invest
All comes down to lack of education or constant education
Buy low and sell high.😂
Thank you Captain obvious!
Never understood why poor people only spent their money staying afloat.
You see? This information should be taught in school. Every kid should learn what is real life and how to make money. No kid should dream of becoming an employee, CEO or janitor, you still work for a rich person, not for yourself.
Rich people pay the government to teach kids to work for rich men and aspire to careers in companies owned by rich people.
The economy doesn’t work if everyone knows how money works. I learnt nothing at school but still became a multi millionaire. I also have dyslexia
@carlyndolphin good for you. Bad for 90% of people who go to sleep with an empty stomach. The economy can work well if the people have higher morals. Not only if people are selfish.
It's not taught in schools because they want obedient employees to work & sell. We all have choices.
@@carlyndolphinway to go, bruther. Good job
Rich people takes or buy everything until nothing is left to those who you call poor.
Passive income just means “let others do the work”.
💯
I'm a poor person working 5 to 4
...but rich with experience. The rest will come round eventually 💯
DESPITE THE ECONOMIC CRISIS,THISIS
STILL A GOOD TIME TO INVESTING IN STOCK
AND CRYPTO.
Great ideal
Stock's are crashing, Bitcoin Investment
right now will be at every wise individual
list in a month you we be ecstatic with
the decision you make today
2021 online stock is just difficult and
unbelievable, I'll rather invest my money
on crypto.
People are ignorant of the profitability in
bitcoin Investment and that had been
their major issues limiting their
Investment.
Nice words especially with the current price.
So it sounds like “ It takes money to make money.”
Rich people have people who advise them on how to legally steal.
They simply call it a hole in the law, and thus skirting what most people have to go through, like paying taxes.
Yes!!! I started on investing about 5 years ago… it’s nice to watch my investments grow and make a little passive income which grows every year. One day I’ll be rich !
She is correct. I made the mistake of not investing in Real Estate in the Bay Area, thirty years ago. I could’ve bought a nice, one bedroom condo in Oakland . I bought a two bedroom townhome in Berkeley a few years later but I sold it ten years later for almost three times what I paid for it. I should’ve kept it. It would be worth five times what I paid for it today.
Rich people also have quite a bit of risk capital. Poor people in middle-class people don’t have the same amount it’s limited and sometimes depending on financial situations they have to make up for losses that takes them out of those areas.
Return on assets work for you when they reach a high enough value. For example, how much money do you need in mutual funds or high yield deposits to use the dividends, interests, etc to live comfortably? It would take 2 million to get 100k a year on a 5% return. 2 million in well diversified stocks could yield 4.3 million in 10 years and 9.3 million in 20 years on 8% return. Sounds simple, right? We just need to do that one thing rich people do that middle class and poor can’t, except… there’s less money to start with. 10k on 5% is 500 a year. 10k in stocks on 8% return is 18.5k after 10 years. Low and middle class salaries go straight to everyday expenses. Getting a large amount on return takes until retirement and that’s if you’re lucky.
Exactly. The more money, more assets. If you're poor, you'll always be screwed.
Most succinct explanation of how to get rich!
Rich people are multi billionaires, it’s not about assets anymore, it’s about vineyard, art works, international projects, assets are land, skyscrapers. Middle classes are about property assets.
Absolute truth! I see this every day and shake my head in wonder. Most working people confuse income with assets! Most people live from paycheck to paycheck! Most people do not have the discipline to build wealth. After college I spent 10 years building wealth; living on 20% of my paycheck. Now in my 60’s I am a multimillionaire and live comfortably on my assets. Do not put yourself into financial bondage. Live well below your means and find financial freedom.
What you are saying is one path to live and congratulations. But don’t tell me those 10 years were to beautiful because you are lying somewhere. I agree with you that you can make most miserable 10 years and then start investing, and you were smart enough to invest in something that made you millionaire. But you took a risk to be a millionaire. The risk that you didn’t live 10 years. And if something would have happened in the last year of those 10 ….. anyway not good to be pessimistic. Life is about risks. Good to you that it worked for you.
Yes exactly you risked 10 years of your life and it paid off. You could have died a few years after that 10 yrs and all for nothing. You got lucky
I haven’t seen a women with clothes on in years 😂😂💯💯
I've been saying it for years. You must adopt the attitude when you are young that you don't care what other people think about you. You must. Then when you buy a car, only buy one you can pay cash for. Never finance an asset that depreciates in value. Your home, only get one that you can afford comfortably. Take the extra money you save and invest it. When you get old you will never regret it.
Poor people are generally more generous than rich people
She's absolutely right 👍🏴🇬🇧
It’s the rich people that keeps poor people poor.
That is true. That’s what we did to build wealth.
Remember.... the source of every rich person... there was once a poor person who became rich.
Death is the greatest equalizer. Rich, poor or middle class we all get put in the same box when the game is over.
I dislike ppl who aren't rich gossiping about the rich
There is no such a type of person as a rich person. A person who has a lot of money, has a higher level of disposable income. Ordinary wage earners pay a much higher percentage of their earnings in tax than those who run a large corporation. If the food you eat generates the energy that is required for you to burn physically doing the job that the business person profits from, then everything you eat, should be tax deductible.