1# Humans learn from making mistakes. We either succeed or we learn. 2# Talk about money in family 3# Play it safe is actually terrible advice 4# Stop doing what you’re doing (Insanity is doing the same thing over and over and expecting different results) 5# Use “desire” and “greed” to actually motivate you to make more money 6# Give yourself a reputation 7# Learn before investing 8# We have choices every moment 9# Pay yourself first, because that’s gonna motivate you 10# Busy people are often the laziest 11# Stop focusing on toilets 12# Be generous 13# We need to focus on assets instead of liabilities 14# Most people will never win because they’re afraid of losing 15# Surround yourself with people who are smarter than you 16# More money will not solve your problems 17# Invest in your brain 18# Start minding your own business 19# Take action and do something 20# Action always beats inaction
Having monitored my port_folio performance which has made a jaw dropping $370k from two quarters alone, I've understood why experienced investors make enormous returns from the market
@@toralayous8500 Interesting, I have a lump sum doing absolutely nothing at all in my bank account, I wanna get something started with it. You seem to be doing excellent for yourself. Do you trade on your own?
I trade with Expert Denise Mitchell, A FINRA regulated broker. Met her sometime early last year at a startup funding event. She had some interesting things to say about the state of algorithmic trading today. Very obviously, it's reflecting on my portfolio
I earn over $10,650 weekly and often time more. It really does depend on your Capital and I only send her a commission of 20% after I have made my profit withdrawer. She doesn't demand for a service charge either.
I am 57 I worked half of my adult life doing what I loved and being my own boss: what those videos don't tell you is the stress that very often comes with it. when you are young like this guy: stress is not really a factor; when you get older the uncertainty and the need to acheive something greater than what you have becomes exhausting. Now I have a "boring" governement job, I have a pension, a fairly good wage, sick days, good vacations, excellent health care and no stress.
My thoughts exactly. Everyone should remember that these are the words of a very young, and very fortunate, man, with no health problems, no sick children, and lots of time left to fix any mistakes. I love his enthusiasm and his emphasis on personal responsibility but, being your own boss comes with major responsibility and major risk; and will not be an option for everyone.
Personally, my father gave me the best advice, "Find a government job and stay there..." I retired at 57, still healthy and energetic, all kids out of the house (some successful, some not by their poor choices), along with my husband who also retired "young", we have no money worries -- we are not huge spenders, though we enjoy life. We have health and dental care provided, purchased through former employers for a reasonable fee. My dad retired at 55 and collected until he was 94. Yes, at times my job was mind-numbing -- I've had many at the same organization, but I reminded myself that I was a single mom with health care and dental insurance, able to afford my own modest garden apartment in a desirable part of the country. I saw my other friends and family members trying to get paid "doing what they love" who changed jobs so much that they will need to work until they drop dead. Granted, Gabe's advice is excellent for ambitious younger folks (I would love for my stepson to be like him), but for my generation when livable pensions were a possibility, and for me with little advanced education, this made more sense. My personal motto was always 'work while you're young or work while you're old' -- I deliberately chose the former. Having said all the above, I still enjoy this channel as much of it is very sound and useful advice.
Fed jobs are the best, secure and great benefits. After struggling thru his 20s and 30s, my hubby finally got a job with a federal agency. His life became secure. Meanwhile, I worked for major medical centers that provided great benefits as well. We are fortunate. Both retired and financially secured.
Thank you!!!! In my early 30s I quit my good, solid corporate job to work for myself full time. After a year, although I was very successful, I was also consumed by work and stress. No thank you. Went back to my corporate day job where I make good money, stop working at 5pm, let others worry about the bigger picture, enjoy good benefits, and sleep well every night. Drives me nuts how that's considered a "lesser than" path.
My mother followed this guys advice while my father went the study, get a masters and good pay job road (don't ask me how they got married). Now that I am 24 and having tried both, I honestly simply prefer the corporate boring job over my own business. Yeah its boring, but I make roughly the same as when I had my own business if not more when adding in healthcare, retirement funds, and PTO's. For context my mom owns a hairsalon and probably brings in around 200k in revenue and works 7 days a week including holidays. My father is a chemical plant manager making around 150k only works monday to friday and has more money saved up than my mother, he is literally her retirement plan. Not to mention less stress and overall better health. being your own boss is nice, but I rather just be smart with my money and simply live a nice boring life.
The best thing to do before starting your investing journey is to invest in yourself and emotion first as you will need them along any hardships and struggles you will have to encounter.
I absolutely agree! It's best we teach the young bloods important information about financial management and educate them about budgeting and investing as they will soon have to do things on their own.
Life changing book is the Bible. "Do not accumulate treasure on Earth where mole and rust destroy and thieves steal. Accumulate treasure in Heaven when neither mole nor rust destroy and no thieves steal. For where your treasure is, there your heart will be also."
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@@galaxyrider9599 Yes, the bible too! It doesn't mean Rich Dad Poor Dad is cursed. You can actually read both and still go to heaven
Two of my favorite parts: people are afraid to lose. And build your reputation. I say you gotta know how to lose to win and affirm yourself instead of what others say about you.
I read Jane Austen novels as a young girl and loved how the rich lived:. They had annual sum that came in from rents, and investments and they had time to travel, do hobbies, exercise and socialize. They also had employees (experts) who handled their day-to-day business affairs. I thought wow that's how I'd like to live. I intended to live that way and studied business, everything I could find on how to retire early and habits that would help me accumulate wealth. That intention bore fruition and I retired in my 30's. Everything you talk about is spot on. I think your review and your spin on it with your experiences is way better than reading the book. 💪🏼💪🏼💪🏼
Are you in US? How did you do during government imposed rent motatorium? Did you have a city that imposed rules that required you to rent to current or past felons? Did you have riots in your city in which the police were told to stand down? I had a lovely rental condo unit i owned in a very desirable established neighborhood that i sold because of all of the above. I depended on it for income and thought one day i would downsize and move there. I sold it last year🙁
@@vickia6200 That’s really sad what the government did. Government over reach. I thought one day I would rent out my home but the last 2 years has made rethink this.
@@TheSUPERHAPPY1 Most people read Pride and Prejudice first. Welcome to the world of Jane Austen! Part of my passive income is writing sequels to Austen's novels. Active income is editing and formatting books for others.
Hi Gabe I am going to show your videos to my daughter when she is 18. Right now she is 12. I have learnt minimalism from you and I follow your policies.
Trying + Failing = Learning "Failure is a temporary result or set back. Each failure should teach you a new way to approach your objective." Charles Platkin
Wow you remind me of the old me. Chasing money and relying on wealth for security. Those days were sad. Now, I just accept what is as it is. Work (not force) on myself with discipline and compassion. Live below my means. Manage money wisely. And guess what? Life has never been better. Anyways, I still wish you all the wealth you desire.
Exactly. No money can guarantee your future. And life is shot. There are better things to do in life than getting money. Two quotes from the Bible: "And He told them a parable, saying, “The land of a rich man was very productive. And he began reasoning to himself, saying, ‘What shall I do, since I have no place to store my crops?’ Then he said, ‘This is what I will do: I will tear down my barns and build larger ones, and there I will store all my grain and my goods. And I will say to my soul, “Soul, you have many goods laid up for many years to come; take your ease, eat, drink and be merry.”’ But God said to him, ‘You fool! This very night your soul will be taken of you!'" "Do not accumulate treasure on Earth where moth and rust destroy anf thieves steal. Accumulate treasure in Heaven when no moth and rust destroy and no thieves steal. For where your treasure is, your heart will be also."
@@galaxyrider9599 Sorry but no. Money is just a word. What it means is what most people fail to see, money means freedom in our world. The bibble is not real, it´s just a fantasy book. Freedom is very much real. THe more money you have, the safer your future is. (All that having a brain, of course)
I think my failures make and made me who I am....we ALWAYS talked about money at home. My family was upper middle class and fell on hard times. My parents were depression era babies! It is freeing to talk about money. It makes for healthy relationships!! Excellent tips. Thank you.
Amazing tips Gabe! Rich dad poor dad also changed my life as well! I became a minimalist so I could use my money to work for me instead of the other way around!
The “how can i afford it” tip was the one tip that literally made me the way I am today… it literally lights a fire in ur soul to always be innovative instead of negative
I have a portafolio snd im also more careful with my spending. It’s so important to really learn about money management it’s a great tool and yes we can achieve financial freedom ❤
Gabe thank you !!! I hope your channel grows and you get that car this month! Everything you say is spot on - "Financial Rehab" is something this country needs and it all starts with a vision.
Most of the people around me and in my community think like Poor Dad. One thing that helps is having a mentor or a small group of like minded people that are on the same mission.
I like that video what you said in the video nothing but the truth good knowledge this video motivate me thanks for sharing the knowledge good content 👍👍👍
I spent $1000 on a Rich Dad Poor Dad course and now have nearly paid off the mortgage on my rental properties. But it took 15 years during which I made a loss on them every year because of taxes, repairs, renovations and the mortgage payments. And that's not mentioning the stress of hostile tenants. It's been worth it given the increase in my net worth...but only just.
Love the breakdown. Work on your incomes, don't increase your expenses. With what I’ve learned over a decade investing, given enough time, solid investments have the potential to double the initial principal amount, but many investors are instead attracted to the lure of high yields in short periods of time despite the possibility of unattractive losses before even getting out. So the onus is on newbies to beware.
@David Bucker As long as you diversify your portfolio, any single stock that you own shouldn’t have too much of an impact on your overall return. If it does, buying individual stocks might not be the right choice for you, as you can also try out the Roth IRA or I series bonds. Even index funds will fluctuate, so you can’t get rid of all of your risk, try how you might. With help, these are achievable. LEVI CLEMANS, a pro Fiduciary oversees my portfolio. You can look him up online, and connect him.
With Clemans' oversight, I’ve been able to select well run companies with strong finances and a history of shareholder friendly management practices that have made me good gains in the past months.
I tell people to enjoy a comfortable financial future, investing is absolutely essential. It’s not even to be debated lol. As the coronavirus pandemic demonstrated, a seemingly stable economy can be quickly turned on its head, leaving those who weren’t prepared for tough times scrambling for income.
How about studying ethics first, money after? You see, it's in the order, it does matter. Day after day we become more and more egocentric, greedy, lost creatures. So no, do not only "study" money and please don't underestimate the value education brings you.
That's something important I was thinking a lot about when I started investing. I come from a background with an burnout a few years after my job education finished (and some things of the past). For me, it got important to have set goals and the psychological strain brcame the best motivation I can think of. Right now I'm still thinking about things like minimalism, the importance of social interactions, taoism or buddhism and still getting closer to my goals from month to month. For me, the middle path works great. :)
Absolutely right! It will all boil down on how we perceive things and our attitude toward everything in life. A good mindset and attitude will help us attain financial freedom without compromising our values.
Thank you for this. My main observation that initially confused me with Kondo was that she isn't a minimalist. I've also found that folding things I wear regularly that could just as well Bryant hung up is counter productive. As a minimalist in progress, I'm still curating my wardrobe and find that other than underwear and socks and out of season items, I do better seeing what in working with all in one place, hung next to each other. I have incorporated her Shinto -inspired idea of thanking an item for having served me well before getting rid of it. Otherwise I felt guilty for parting with things 🤦
Agree with all of this 100% and have been a huge saver. But I’ve had people in family recently pass away and it made me realize life is way too short. I’ve changed my mindset a bit and splurge more. What’s the point if you die with millions in bank/investments. Enjoy the vids!
I always enjoyed the idea of building a family fortune which is then passed on and built on generation after generation, a family sticking together and helping each other grow. I also enjoy the idea of people living like they have no money and after they die, people find out they saved up millions. I admire such people.
@@altenberg-greifenstein I agree with Steve. My husband and I have considerable assets. I have a soon to be 40-something stepson that chooses to sit in his basement playing video games at his mom's home. I do not tell my husband what to do with his share of our wealth, but I believe inheritance should be merit-based, and I already have several favored charities to which I plan to be giving my share of our assets, in addition to bequeathing assets to any hard-working grandkids.
I am in my mid 50s. 8 months ago I began dating a man I've known since middle school. He's done very well for himself financially. Sold a small business for a couple of million, invested it. Now lives off interest. The problem, he's cheap as hell. We're slightly over 55. Our children are grown. He paid for private school & college for his children yet he believes he shouldn't spend money so his children can have it. One child has borrowed a couple hundred thousand to start a business. She makes no attempt to pay it back even though that was the arrangement. I've never seen his children visit their dad nor invite him over for holidays etc. I feel like we've worked ( i still work) We're healthy. Why aren't we enjoying our lives? Why can't we travel? His home is pd for. He has talked about buying another but I say why?? It's a great house, with upgrades of things we've always wanted it could be a dream home. Going anywhere with him has gotten boring. I love to try new restaurants. He likes spending money at cheap chain restaurants. Imo it is sad. Life is short. Have fun. Enjoy new experiences while you can.
Ngl I'm here so I don't have to re read Rich Dad Poor Dad, and you nailed it. Thanks for the reminders of things I had forgotten, and for the affirmation of the things I've been doing right even as things have been getting tighter.
I think it is important to spread funds in channels that are poised to do well in recession. I’m currently finishing my 6th duplex and retired from the rat race at 35 and what funded all these were strategic investing in stocks and consistent trading crypto. I’m exceptionally well positioned for what’s to come because my portfolio is solid enough to withstand and outperform irrespective of the market trends.
@Joe Robert Totally, smart investors made millions from the 2020 recession and such success rate could be achieved in this present market with the right approach.
@@kelvinjohnson3906 plot your course bud, I am personally invested 80% in stocks, 20% in crypto and of course with the guidance of my investment coach Frost Hilda, this yields an annual return of $400k. Frost focus on leading stocks in top industry groups, and aim for stocks with strong institutional support. He plots good entry point and has greatly enhanced my earnings and portfolio performance over the years.
Hey everyone! I couldn't agree more with this. Making mistakes is a crucial part of learning and growing, but it's also important to be smart about our finances and investments. It's time to stop playing it safe and start taking calculated risks to reach our goals. Remember, desire and greed can be used as motivators to make more money, but always prioritize paying yourself first. Surround yourself with knowledgeable people, invest in your brain and take action! Don't fall into the trap of being busy but actually lazy, focus on assets instead of liabilities and take the leap towards success. Remember, more money won't solve your problems, so make sure to mind your own business and be generous along the way. Action always beats inaction, so let's make it happen!
I bought a condo in the pandemic and am fixing up and making it modern to rent it out in a year. I only make $40k after taxes so it's a slow process but Itll be my first rental property! Im struggling right now but i believe that its worth it
My Dad advised me it's better to be top of division two, than bottom of division one, I say...live beneath your means whatever income you have you'll be happy, be careful what you own, it may wind up owning you.
Probably one of the most recommended personal finance books. I read this after a suggestion from a friend and it changed my life. Made me realize I’m not alone in wanting to build wealth. It seems to be more taboo in lower income households… so thanks for sharing!
that last line rang so true. There are such complex feelings around moving up in social class when you grew up poor; I'm buying a house at the moment and it feels like I'm almost becoming one of the bad guys when my friends and family all still rent (I'm buying to live in it, not be a landlord, but still) Wanting to move up the class ladder definitely feels taboo and weirdly guilt-inducing. Wild!
@@gutsguiltgreed639 you shouldn't feel bad, we all have different hands we are played and all we can do is play it the best we can. If anything, you will be a great example to your friends and family. :)
@@highqualitylady2373 agreed. I also noticed that in my own experiences with wealthy people. Makes sense tho bc if you are self made, most likely you had to provide some value to others and I feel that being generous and kind are pre requisites.
THINGS are not what makes people happy or content. Invest in becoming a better person and learning necessary skills to survive. Chase that. Great video! Very inspiring.
I agree! Invest in making yourself better and expect to go far from that investment. They say the best investment we can ever have is by investing in ourselves - invest in learning new skills, invest in nourishing your knowledge and invest in making yourself productive.
that is not entirely true. THINGS can be many.. things. You don´t need to live a miserable life focused on a future goal, because you know, you could die or have an accident. You also need to enjoy the present a little bit.
Best video you’ve done! Loved all the content. And how you recommended to give. Because it’s more blessed to give than to receive!! Best advice ever Thank you
Last time my father very rich my mother not so rich as him but they also can be together. My father love her alot unlike the bad guy look down where good?!
"The love of money is the root of evil'... and I don't miss my kid's soccer games to make money, I go to all the games because they are more important than making money.
I think humans are the root of eivil. Guns dont kill, the trigger squeeze does. The same goes for money. It's a tool. A carpenters screws , hammer, nail, file, Laith, sander & wood, are all part of his creation. But did we dint say, will it's the screws and nails that are holding up this great work of art ? No we don't. Those are tools and hardware that helped the guy put it together. The same goes for money. Money is a tool. And we can tame it or it will run you. When. It runs you, you then have a problem with it. Because you're under the control of money
When he used the example of "I can't afford it" I heard (noisy here) "I can't support it" which led me to think about boundaries. Setting boundaries, saying no, not supporting unethical companies, and setting rules up for myself (& my company) have made the biggest difference in finding ways to save. Then the fun part, giving those extra dollars jobs like emergency fund, saving for a trip, etc. Yes HOW can I afford it
"After all, you are what you eat" haha love that in the context of consuming media. Great video, good job Gabe! I love the unique angles and the content, if you can add more personal examples and explain how you implemented things and how it works for you that would be awesome.
Young people: realize how valuable information like this is! When I was his age there was NOTHING like this to help young people think about investing and having a mindset for money growth. (Of course, there was no UA-cam either, so there’s that. But yeah. I wish I’d heard this a lot younger.
Once again thank you for the great advice. Can you suggest what to listen to for financial information. I appreciate you taking the time to make this video.
Check out 20 Lessons From Atomic Habits That Changed My Life
ua-cam.com/video/w_vm5Fd50Nk/v-deo.html
1# Humans learn from making mistakes. We either succeed or we learn.
2# Talk about money in family
3# Play it safe is actually terrible advice
4# Stop doing what you’re doing (Insanity is doing the same thing over and over and expecting different results)
5# Use “desire” and “greed” to actually motivate you to make more money
6# Give yourself a reputation
7# Learn before investing
8# We have choices every moment
9# Pay yourself first, because that’s gonna motivate you
10# Busy people are often the laziest
11# Stop focusing on toilets
12# Be generous
13# We need to focus on assets instead of liabilities
14# Most people will never win because they’re afraid of losing
15# Surround yourself with people who are smarter than you
16# More money will not solve your problems
17# Invest in your brain
18# Start minding your own business
19# Take action and do something
20# Action always beats inaction
Thank you so much Ivy. God bless you,
You da the real map, thanks for the tl;dr
thnx!
Best advice I ever got was, "Invest For The Long Haul, Don't Get Too Greedy And Don't Get Too Scared. The biggest risk of all is not taking one
Having monitored my port_folio performance which has made a jaw dropping $370k from two quarters alone, I've understood why experienced investors make enormous returns from the market
@@toralayous8500 Interesting, I have a lump sum doing absolutely nothing at all in my bank account, I wanna get something started with it. You seem to be doing excellent for yourself. Do you trade on your own?
I trade with Expert Denise Mitchell, A FINRA regulated broker. Met her sometime early last year at a startup funding event. She had some interesting things to say about the state of algorithmic trading today. Very obviously, it's reflecting on my portfolio
I earn over $10,650 weekly and often time more. It really does depend on your Capital and I only send her a commission of 20% after I have made my profit withdrawer. She doesn't demand for a service charge either.
Wow this is so amazing, please how do I get in touch with Mrs Denise Mitchell, I would love to trade with her
I am 57 I worked half of my adult life doing what I loved and being my own boss: what those videos don't tell you is the stress that very often comes with it. when you are young like this guy: stress is not really a factor; when you get older the uncertainty and the need to acheive something greater than what you have becomes exhausting. Now I have a "boring" governement job, I have a pension, a fairly good wage, sick days, good vacations, excellent health care and no stress.
My thoughts exactly. Everyone should remember that these are the words of a very young, and very fortunate, man, with no health problems, no sick children, and lots of time left to fix any mistakes. I love his enthusiasm and his emphasis on personal responsibility but, being your own boss comes with major responsibility and major risk; and will not be an option for everyone.
Personally, my father gave me the best advice, "Find a government job and stay there..." I retired at 57, still healthy and energetic, all kids out of the house (some successful, some not by their poor choices), along with my husband who also retired "young", we have no money worries -- we are not huge spenders, though we enjoy life. We have health and dental care provided, purchased through former employers for a reasonable fee. My dad retired at 55 and collected until he was 94. Yes, at times my job was mind-numbing -- I've had many at the same organization, but I reminded myself that I was a single mom with health care and dental insurance, able to afford my own modest garden apartment in a desirable part of the country. I saw my other friends and family members trying to get paid "doing what they love" who changed jobs so much that they will need to work until they drop dead.
Granted, Gabe's advice is excellent for ambitious younger folks (I would love for my stepson to be like him), but for my generation when livable pensions were a possibility, and for me with little advanced education, this made more sense. My personal motto was always 'work while you're young or work while you're old' -- I deliberately chose the former.
Having said all the above, I still enjoy this channel as much of it is very sound and useful advice.
Fed jobs are the best, secure and great benefits. After struggling thru his 20s and 30s, my hubby finally got a job with a federal agency. His life became secure. Meanwhile, I worked for major medical centers that provided great benefits as well. We are fortunate. Both retired and financially secured.
Thank you!!!! In my early 30s I quit my good, solid corporate job to work for myself full time. After a year, although I was very successful, I was also consumed by work and stress. No thank you. Went back to my corporate day job where I make good money, stop working at 5pm, let others worry about the bigger picture, enjoy good benefits, and sleep well every night. Drives me nuts how that's considered a "lesser than" path.
My mother followed this guys advice while my father went the study, get a masters and good pay job road (don't ask me how they got married). Now that I am 24 and having tried both, I honestly simply prefer the corporate boring job over my own business. Yeah its boring, but I make roughly the same as when I had my own business if not more when adding in healthcare, retirement funds, and PTO's. For context my mom owns a hairsalon and probably brings in around 200k in revenue and works 7 days a week including holidays. My father is a chemical plant manager making around 150k only works monday to friday and has more money saved up than my mother, he is literally her retirement plan. Not to mention less stress and overall better health. being your own boss is nice, but I rather just be smart with my money and simply live a nice boring life.
My dad always said "The more you have the more there is to worry about". So true.
I agree, it can also be said, "you don't own things things own you ".
You dad didn’t invent that Biggie Smalls Did. “Mo money mo problems”
@@stickolascage2936 🤣😂🤣 Faxx
My Dad always said, "A man's home is his hassle." So, he taught his 8 kids how to fix a toilet. HaHa
Very true
4:20 "Invest in learning about investing before you actually invest". Let me stop right there, that's the BEST advice you gave to ppl, like ever!
The best thing to do before starting your investing journey is to invest in yourself and emotion first as you will need them along any hardships and struggles you will have to encounter.
His books helped me retire at 50. My son is also using it to get ahead and learn about money. Great simple book!!
i retired at 21 . thanks to rich dad poor dad and millionare fastlane
I absolutely agree! It's best we teach the young bloods important information about financial management and educate them about budgeting and investing as they will soon have to do things on their own.
@@dummyyy9092 Bro can you teach me how I’m so tired of my job how did you you do it?
@@dummyyy9092 nah, you did not.
Classic book for anyone who wants to improve their life quality. Always good to revisit its concepts. Thanks, Gabe!
Life changing book for sure
Life changing book is the Bible. "Do not accumulate treasure on Earth where mole and rust destroy and thieves steal. Accumulate treasure in Heaven when neither mole nor rust destroy and no thieves steal. For where your treasure is, there your heart will be also."
@@galaxyrider9599 Yes, the bible too! It doesn't mean Rich Dad Poor Dad is cursed. You can actually read both and still go to heaven
Two of my favorite parts: people are afraid to lose.
And build your reputation.
I say you gotta know how to lose to win and affirm yourself instead of what others say about you.
🔥🔥🔥💯💯
No longer kids are told mistakes are bad. We teach growth mind set in my school, thankfully.
I read Jane Austen novels as a young girl and loved how the rich lived:. They had annual sum that came in from rents, and investments and they had time to travel, do hobbies, exercise and socialize. They also had employees (experts) who handled their day-to-day business affairs. I thought wow that's how I'd like to live. I intended to live that way and studied business, everything I could find on how to retire early and habits that would help me accumulate wealth. That intention bore fruition and I retired in my 30's. Everything you talk about is spot on. I think your review and your spin on it with your experiences is way better than reading the book. 💪🏼💪🏼💪🏼
What Jane Austen book would you suggest a person read first? (I've never read a Jane Austen book)
Are you in US? How did you do during government imposed
rent motatorium? Did you have a city that imposed rules that required you to rent to current or past felons? Did you have riots in your city in which the police were told to stand down? I had a lovely rental condo unit i owned in a very desirable established neighborhood that i sold because of all of the above. I depended on it for income and thought one day i would downsize and move there. I sold it last year🙁
@@vickia6200 That’s really sad what the government did. Government over reach. I thought one day I would rent out my home but the last 2 years has made rethink this.
@@TheSUPERHAPPY1 Most people read Pride and Prejudice first. Welcome to the world of Jane Austen! Part of my passive income is writing sequels to Austen's novels. Active income is editing and formatting books for others.
Trauma stems from a lot of forced humiliation or intimidation. So dominating the people skills for success makes a huge difference.
Hi Gabe
I am going to show your videos to my daughter when she is 18. Right now she is 12. I have learnt minimalism from you and I follow your policies.
This book changed my life about 14 years ago! Life is good :)
Trying + Failing = Learning "Failure is a temporary result or set back. Each failure should teach you a new way to approach your objective." Charles Platkin
Wow you remind me of the old me. Chasing money and relying on wealth for security. Those days were sad. Now, I just accept what is as it is. Work (not force) on myself with discipline and compassion. Live below my means. Manage money wisely. And guess what? Life has never been better. Anyways, I still wish you all the wealth you desire.
Exactly. No money can guarantee your future. And life is shot. There are better things to do in life than getting money. Two quotes from the Bible:
"And He told them a parable, saying, “The land of a rich man was very productive. And he began reasoning to himself, saying, ‘What shall I do, since I have no place to store my crops?’ Then he said, ‘This is what I will do: I will tear down my barns and build larger ones, and there I will store all my grain and my goods. And I will say to my soul, “Soul, you have many goods laid up for many years to come; take your ease, eat, drink and be merry.”’ But God said to him, ‘You fool! This very night your soul will be taken of you!'"
"Do not accumulate treasure on Earth where moth and rust destroy anf thieves steal. Accumulate treasure in Heaven when no moth and rust destroy and no thieves steal. For where your treasure is, your heart will be also."
@@galaxyrider9599 Sorry but no.
Money is just a word. What it means is what most people fail to see, money means freedom in our world.
The bibble is not real, it´s just a fantasy book. Freedom is very much real. THe more money you have, the safer your future is. (All that having a brain, of course)
I think my failures make and made me who I am....we ALWAYS talked about money at home. My family was upper middle class and fell on hard times. My parents were depression era babies! It is freeing to talk about money. It makes for healthy relationships!! Excellent tips. Thank you.
Amazing tips Gabe! Rich dad poor dad also changed my life as well! I became a minimalist so I could use my money to work for me instead of the other way around!
Key word here is, FREEDOM! Many just don't understand that seeing the "whole picture", is crucial!
The “how can i afford it” tip was the one tip that literally made me the way I am today… it literally lights a fire in ur soul to always be innovative instead of negative
I have a portafolio snd im also more careful with my spending. It’s so important to really learn about money management it’s a great tool and yes we can achieve financial freedom ❤
What financial books changed your life?
Bodo Schaefer, The Road to Financial Freedom
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Just subscribed! I want a Tesla too and have a plan like you. The book that changed my life is Money Master the Game by Tony Robbins!
Psychology of Money
- Rich Dad, Poor Dad
- The Richest Man in Babylon
- Think and Grow Rich
- The 4-Hour Workweek
Your cinematography is amazing. It makes easy listening and watching.
" people they say that they're not interested in money are lying " 👍🏾
I'm surrounded by a ton of these liars, that go to work everyday to earn 💰
@Rillawhat - If those people you are surrounded with are not interested in money, perhaps are more interested in other pursuits. Thus are NOT lying!!
@@warriormanmaxx8991 if those other pursuits do not involve going to work everyday, I might agree
Gabe thank you !!! I hope your channel grows and you get that car this month! Everything you say is spot on - "Financial Rehab" is something this country needs and it all starts with a vision.
We do have a choice every moment, to step into leading yourself to create your reality instead of feeling helpless.
What a fantastic video. You inspire me to get away from my certain friends that don’t learn from their mistakes or get out of their comfort zone.
My buddy owns a Tesla, he rents it out on Turo about 14 days a month and it more than covers his car payment. Pretty creative :)
I’m probably gonna do that too
Work smarter, not harder. As an Accountant, I'm a huge advocate of making passive income.
OK GABE! The money b-roll scene using the towel - FREAKIN AWESOME!
Awesome. I need this book . Heard this book a lot but never invested in them.
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You're giving more and more SMART videos every week
Definitely worth it!
Most of the people around me and in my community think like Poor Dad. One thing that helps is having a mentor or a small group of like minded people that are on the same mission.
Can you please create another video about Rich Dad Poor Dad? Specifically how you learned to read financial statements and learned about Real Estate?
Way to build,, Love the video and saw similar concepts !!!!!!!! Way to keep going
I like that video what you said in the video nothing but the truth good knowledge this video motivate me thanks for sharing the knowledge good content 👍👍👍
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I spent $1000 on a Rich Dad Poor Dad course and now have nearly paid off the mortgage on my rental properties. But it took 15 years during which I made a loss on them every year because of taxes, repairs, renovations and the mortgage payments. And that's not mentioning the stress of hostile tenants. It's been worth it given the increase in my net worth...but only just.
LOVE HOW YOU JUST JUMP RIGHT INTO THE VIDEO
I believe it was Benjamin who said, and I paraphrase, if you empty your purse into your head, no one can take it away from you.
Love the breakdown. Work on your incomes, don't increase your expenses. With what I’ve learned over a decade investing, given enough time, solid investments have the potential to double the initial principal amount, but many investors are instead attracted to the lure of high yields in short periods of time despite the possibility of unattractive losses before even getting out. So the onus is on newbies to beware.
@David Bucker As long as you diversify your portfolio, any single stock that you own shouldn’t have too much of an impact on your overall return. If it does, buying individual stocks might not be the right choice for you, as you can also try out the Roth IRA or I series bonds. Even index funds will fluctuate, so you can’t get rid of all of your risk, try how you might. With help, these are achievable. LEVI CLEMANS, a pro Fiduciary oversees my portfolio. You can look him up online, and connect him.
With Clemans' oversight, I’ve been able to select well run companies with strong finances and a history of shareholder friendly management practices that have made me good gains in the past months.
@@tedbolder Right? I think I’ll have a look at that and maybe add it to my portfolio. But is it possible to beat the market?
I tell people to enjoy a comfortable financial future, investing is absolutely essential. It’s not even to be debated lol. As the coronavirus pandemic demonstrated, a seemingly stable economy can be quickly turned on its head, leaving those who weren’t prepared for tough times scrambling for income.
How about studying ethics first, money after? You see, it's in the order, it does matter. Day after day we become more and more egocentric, greedy, lost creatures. So no, do not only "study" money and please don't underestimate the value education brings you.
That's something important I was thinking a lot about when I started investing.
I come from a background with an burnout a few years after my job education finished (and some things of the past). For me, it got important to have set goals and the psychological strain brcame the best motivation I can think of.
Right now I'm still thinking about things like minimalism, the importance of social interactions, taoism or buddhism and still getting closer to my goals from month to month. For me, the middle path works great. :)
Absolutely right! It will all boil down on how we perceive things and our attitude toward everything in life. A good mindset and attitude will help us attain financial freedom without compromising our values.
I have this book and it changed me a lot with my financial investments..
Thank you for this. My main observation that initially confused me with Kondo was that she isn't a minimalist. I've also found that folding things I wear regularly that could just as well Bryant hung up is counter productive. As a minimalist in progress, I'm still curating my wardrobe and find that other than underwear and socks and out of season items, I do better seeing what in working with all in one place, hung next to each other. I have incorporated her Shinto -inspired idea of thanking an item for having served me well before getting rid of it. Otherwise I felt guilty for parting with things 🤦
Live the mind shift from "I can't" to "how can I".
Agree with all of this 100% and have been a huge saver. But I’ve had people in family recently pass away and it made me realize life is way too short. I’ve changed my mindset a bit and splurge more. What’s the point if you die with millions in bank/investments. Enjoy the vids!
Definitely agree there's a balance in there
I always enjoyed the idea of building a family fortune which is then passed on and built on generation after generation, a family sticking together and helping each other grow. I also enjoy the idea of people living like they have no money and after they die, people find out they saved up millions. I admire such people.
@@altenberg-greifenstein Totally makes sense, but just not for me. I think wealth should be earned and not handed to someone.
@@altenberg-greifenstein I agree with Steve. My husband and I have considerable assets. I have a soon to be 40-something stepson that chooses to sit in his basement playing video games at his mom's home. I do not tell my husband what to do with his share of our wealth, but I believe inheritance should be merit-based, and I already have several favored charities to which I plan to be giving my share of our assets, in addition to bequeathing assets to any hard-working grandkids.
I am in my mid 50s. 8 months ago I began dating a man I've known since middle school. He's done very well for himself financially. Sold a small business for a couple of million, invested it. Now lives off interest. The problem, he's cheap as hell. We're slightly over 55. Our children are grown. He paid for private school & college for his children yet he believes he shouldn't spend money so his children can have it. One child has borrowed a couple hundred thousand to start a business. She makes no attempt to pay it back even though that was the arrangement. I've never seen his children visit their dad nor invite him over for holidays etc. I feel like we've worked ( i still work) We're healthy. Why aren't we enjoying our lives? Why can't we travel? His home is pd for. He has talked about buying another but I say why?? It's a great house, with upgrades of things we've always wanted it could be a dream home. Going anywhere with him has gotten boring. I love to try new restaurants. He likes spending money at cheap chain restaurants. Imo it is sad. Life is short. Have fun. Enjoy new experiences while you can.
I recall that that book was encouraging people to try illegal real estate tactics...
Ngl I'm here so I don't have to re read Rich Dad Poor Dad, and you nailed it. Thanks for the reminders of things I had forgotten, and for the affirmation of the things I've been doing right even as things have been getting tighter.
I think it is important to spread funds in channels that are poised to do well in recession. I’m currently finishing my 6th duplex and retired from the rat race at 35 and what funded all these were strategic investing in stocks and consistent trading crypto. I’m exceptionally well positioned for what’s to come because my portfolio is solid enough to withstand and outperform irrespective of the market trends.
@Joe Robert Totally, smart investors made millions from the 2020 recession and such success rate could be achieved in this present market with the right approach.
@@kelvinjohnson3906 plot your course bud, I am personally invested 80% in stocks, 20% in crypto and of course with the guidance of my investment coach Frost Hilda, this yields an annual return of $400k. Frost focus on leading stocks in top industry groups, and aim for stocks with strong institutional support. He plots good entry point and has greatly enhanced my earnings and portfolio performance over the years.
@@geraldbenzinger9703 this is remarkable! I’m only Investing in stocks with recent quarterly and annual earnings growth of at least 25%, nothing less.
I guess the market doesn’t look bad, Its me who just don’t see the opportunity it’s providing right now.
@@kelvinjohnson3906 connect using his telegram handle
Love the 🥕-picture to motivate me! Thanks a lot for your videos! 😃💫
I work to learn new skills and to make connections.
Hey everyone! I couldn't agree more with this. Making mistakes is a crucial part of learning and growing, but it's also important to be smart about our finances and investments. It's time to stop playing it safe and start taking calculated risks to reach our goals. Remember, desire and greed can be used as motivators to make more money, but always prioritize paying yourself first. Surround yourself with knowledgeable people, invest in your brain and take action! Don't fall into the trap of being busy but actually lazy, focus on assets instead of liabilities and take the leap towards success. Remember, more money won't solve your problems, so make sure to mind your own business and be generous along the way. Action always beats inaction, so let's make it happen!
Yes the video I never knew I needed until I saw it in my feed!! Thank you for these tips!! So helpful!!
thank you so much for your good sharing...loves from malaysia
I bought a condo in the pandemic and am fixing up and making it modern to rent it out in a year. I only make $40k after taxes so it's a slow process but Itll be my first rental property! Im struggling right now but i believe that its worth it
My Dad advised me it's better to be top of division two, than bottom of division one, I say...live beneath your means whatever income you have you'll be happy, be careful what you own, it may wind up owning you.
How can my house be a liability? It costs me about 200 a month to live here. If I would rent the house next door it would cost 1,900.
It is but its a good liability think positive ;)
You’re doing a good job
Damn your doing good monthly on your house
Thanks for making this video. I’m watching it again!!
I learned from "Rich Dad, Poor Dad," too! However, rich people DO eat fast food, they just don't stuff their faces with it every day.
Warren Buffett does eat McDonald's every day. I don't even have that in common with him either
My son is listening and says you have good points, he’s sick of Mcds.
Love the cinematography in this 😍. Kept me intrigued the whole time.
🙏 thanks! It's fun shooting this kind of video
Probably one of the most recommended personal finance books. I read this after a suggestion from a friend and it changed my life. Made me realize I’m not alone in wanting to build wealth. It seems to be more taboo in lower income households… so thanks for sharing!
that last line rang so true. There are such complex feelings around moving up in social class when you grew up poor; I'm buying a house at the moment and it feels like I'm almost becoming one of the bad guys when my friends and family all still rent (I'm buying to live in it, not be a landlord, but still)
Wanting to move up the class ladder definitely feels taboo and weirdly guilt-inducing. Wild!
@@gutsguiltgreed639 you shouldn't feel bad, we all have different hands we are played and all we can do is play it the best we can. If anything, you will be a great example to your friends and family. :)
Your comment is insightful. Many dislike the wealthy because they are stigmatized. I find a lot of rich people are generous and not greedy.
@@highqualitylady2373 agreed. I also noticed that in my own experiences with wealthy people. Makes sense tho bc if you are self made, most likely you had to provide some value to others and I feel that being generous and kind are pre requisites.
Great video! It’s not about how much money you make, but how much money you keep, how hard it works for you!
THINGS are not what makes people happy or content. Invest in becoming a better person and learning necessary skills to survive. Chase that.
Great video! Very inspiring.
I agree! Invest in making yourself better and expect to go far from that investment. They say the best investment we can ever have is by investing in ourselves - invest in learning new skills, invest in nourishing your knowledge and invest in making yourself productive.
that is not entirely true.
THINGS can be many.. things. You don´t need to live a miserable life focused on a future goal, because you know, you could die or have an accident. You also need to enjoy the present a little bit.
Best video you’ve done! Loved all the content. And how you recommended to give. Because it’s more blessed to give than to receive!! Best advice ever
Thank you
Last time my father very rich my mother not so rich as him but they also can be together. My father love her alot unlike the bad guy look down where good?!
So I'm asking everyone out their what would be some good investing books for beginners other then the rich dad series
James Clear’s book, Atomic Habits, sorta expands on “Give yourself a reputation”
Subscribed!! Good luck on your Tesla!
I just walked in in the restroom when in the very moment he said "Stop focusing on toilets" Lol 😂 that kind of startled me a little.🤦😅
Any recommendations of channels to learn about investing? All of them I saw already talks with all the complicated jargon. Simple baby steps please!
Chapters
0:52 | play it safe | take risk instead
1:27 | study money| study things like financial freedom, asset, liabilities etc
thank you for this video, it was very helpful and I can't wait to share it with my son who I feel could use this advise also. Thanks again
"The love of money is the root of evil'... and I don't miss my kid's soccer games to make money, I go to all the games because they are more important than making money.
I think humans are the root of eivil.
Guns dont kill, the trigger squeeze does.
The same goes for money. It's a tool. A carpenters screws , hammer, nail, file, Laith, sander & wood, are all part of his creation. But did we dint say, will it's the screws and nails that are holding up this great work of art ? No we don't.
Those are tools and hardware that helped the guy put it together.
The same goes for money. Money is a tool. And we can tame it or it will run you. When. It runs you, you then have a problem with it. Because you're under the control of money
thanks m8 nice little motivator.
When he used the example of "I can't afford it" I heard (noisy here) "I can't support it" which led me to think about boundaries. Setting boundaries, saying no, not supporting unethical
companies, and setting rules up for myself (& my company) have made the biggest difference in finding ways to save. Then the fun part, giving those extra dollars jobs like emergency fund, saving for a trip, etc.
Yes HOW can I afford it
I came here to save money on the book.
Thank you very much 🙏🙏
"After all, you are what you eat" haha love that in the context of consuming media. Great video, good job Gabe!
I love the unique angles and the content, if you can add more personal examples and explain how you implemented things and how it works for you that would be awesome.
I really like the red house on the photo of this video though! Big piece of land with it... et voilà!
Amazing video as always! Keep up the good work!
thank you so much for your effort on making this making video
I always look forward to your videos. They are inspirational and they motivate me. Love them!
Thanks for the video! Thanks for the inspiration!
Really awesome! so many tips already blew my mind while hearing..I´m gonna get that book to dig deeper. Thanks!!
Investing in knowledge is essential!
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Young people: realize how valuable information like this is! When I was his age there was NOTHING like this to help young people think about investing and having a mindset for money growth. (Of course, there was no UA-cam either, so there’s that. But yeah. I wish I’d heard this a lot younger.
Been watching a lot of these types of videos recently. Thanks!
Rich Dad Poor Dad has a lot of nuggets of wisdom but it wont make you rich. Hard work, smart work and dedication is what will get you there.
Love the humor
I’m like an aspiring minimalist, so I don’t actually need that much stuff, but what I am after is a £100,000 electric state of the art car…
I subscribed just because you didn't ask for money and you want a Tesla. I read the book too and you hit every point.
besides the good info the editing had me glued in the whole time lol
Once again thank you for the great advice. Can you suggest what to listen to for financial information. I appreciate you taking the time to make this video.
Which investing books do you recommend?
Thanks for sharing Gabe♥️
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How can I build my wealth if I don't want to own other property or stock? I just want to own a home and work as a nurse...
500k reached 👏
My only disagreement is that a home is an asset and not a liability
Excellent video!
I just subscribed I pray you get your car soon!!!!
Great video! Definitely gave me motivation on this Monday morning!
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