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My poor dad always told me to me go to school and get a high-paying job. That’s not creating wealth. That's a job. My rich dad on the other hand always says work for assets. There are basically 4 asset classes that makes a person rich.
Number 1 is Business. The richest young guys today start companies. Some great examples of this are Facebook, Google, Apple, etc.
Number 2 is real estate. What my rich dad taught me is the combination of being an entrepreneur in business and an entrepreneur in real estate. Now due to this combination, I pay no tax and I make a lot more money.
The 3rd asset is Paper. Savings in gold, papers like stocks bonds mutual funds are liquid. You make a mistake, you can get in and out real quick.
The last asset is Commodities and this is why I own oil because in the U.S. if you deal in oil, you get tax breaks. So oil is very profitable.
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Higher taxes and lower income will bring a lot of concern although there are expenses are mostly spent on food, and any bills you need to pay. How can they expected to save money to buy an assets and let money work for you if there aren't any cash left before payday has come?
This video and this guy don't make any sence, where is the ending where's the result? It sounds all bullshit. If you don't invest in oil stocks then what and how do you invest in oil companies marking 80% return on day one?
Either tell the truth in detail or stop throwing a bone to desperate people who is trying hard to make it!!!
Do research on the state of Medina during Prophet(PBUH) era, now i don't care whether or not you believe in Him or in islam in general but for knowledge check it out, your statement may change or may not...
i'm starting from scratch, but i'll be damn sure to teach my future kids how to manage my assets before i even write my will so i'll know passing on that all my assets are in good hands and my kids won't piss it all away.
Many thanks, I've been looking for "wealth creation and christianity" for a while now, and I think this has helped. Ever heard of - Xiyannah Lansaiah Theorem - (search on google ) ? Ive heard some decent things about it and my cousin got cool results with it.
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Poor soul, you're going to die and leave behind to someone else. Truly being independent is indeed important and great, but giving too much on money and forgetting the day, when you leave, turn to oblivion is sad.
Some great points, It is true that most of the worlds wealthiest people come from entrepreneurship and own real estate. To be able to take that next step however, try to find ways to create multiple sources of income to create greater growth and ultimately financial freedom.
In todays generation they are focus only on one thing "ASS" in the most literal sense of the word and NOT asset. Women always thinking how to keep their asses in top shape, tone, color, firmness, shape, size, form, symmetry, bounciness, smoothness, hairiness, proportion, botox, fillings, msssages, enhancements, reduction, plastc surgery..... all for their almighty asses and those words mentioned above exactly applies to "Tits" (I still have more words to add but that would be time consuming) and brainless guys always thinking of how to get those asses and tits and and just walking around spending every penny for the show, pretense and living in fantasy, these two does not have any other goals and purpose in life. Ask them what the purpose of life they may not tell you directly but it's just ass and tits starting when they wake up and before going to bed. Sad, sad, sad state of affairs.
The 5th one is writing your books to sucker people in. I remember your video when you were stockpiling food and water with Antony Robbins predicting Armageddon in around 2008. It has been removed now. You were shaking like a chicken. Instead you should have invested in quality equities. Please be wary of this man
You need 3 things to happen at the same time to be successful and wealthy. A proven fact. 1. Timing 2. Resources 3. The right connections. Look at just three examples. Rockefeller, Steve Jobs and Van Halen.
How can he invest in oil and:
- get 80% back.
- not even buying stocks
- the price of oil doesn't affect the investment?
If it's not stocks I guess he could have bonds or some sort of loan to a drilling company.
Three qualities that make you Rich. Knowing means being Educated and being taught how to acquire and sell assets of value and two is Marketing to your specific target audience buyers again knowing and educating your self on how too and three is having a Mentor who is already doing what you want to do show you and train you how to go through the motions. Mindset, basics, of handling your emotions and action, then assess the results and make small adjustments and repeat stay persistent and have resilience and be patient.
The book is full of bullcrap and lies--there was no Rich Dad and he did not write that fake book--Sharon Letscher did and when kiyosaki cheated her out of her money she sued him and won---$10 million worth. Stop being an idiot.
Real Estate is the best among them all, if you plan your investment, you did your research on the property you wanted to invest, it WILL make you money, especially Rental properties, and the best of it all, your piece of land will not depreciate, it will always appreciate ( not the building ok, because the building itself depreciate overtime because of the materials, but the land itself, i have never heard a depreciating land in terms of value )
Donald McCaffery it doesn’t happen overnight, I agree. It takes time to learn the skill. And IMPLEMENT the skill to get results. Now, how fast to make the money depends on YOU. Some people Run to success some people crawl to it in their lifetime. Some don’t make a move a all, to stay “safe” and stay broke. All up to YOU.
Invest in yourself, what I mean is learn a high income skill. Invest in your brain. ..Because wealth, is a MINDSET.
I was blessed to work a job and was I was never unemployed. I supported myself, travelled, and helped non beggars. If you do not marry, then you cannot cheat. Please use private investigators, for it can save your life, and the children you have.
Not understanding the division between stocks and business. If you buy stock (in a business) you become a partial owner. Can you elaborate on why these are separate categories? Is it the level of control you have?
Stocks are subject to be taxed if you sell them because it's known as a capital gain, you also won't be eligible for tax deductions if you invest in a stock portfolio unlike in a business where there is significant control over that. Stocks are also highly overvalued, typically the earnings and book value per share price is extremely high due to the tendency of the stock market to drastically overvalue publicly traded companies that are traded; there is also a significantly higher rate of return (a.k.a. profit of yield) possible in business than in stocks--most stock indexes will maybe get you 7% a year if you're lucky, whereas a successful business that is competently managed in the market it serves can easily generate 20% or greater compounding annualized rates of return on money invested and would be less risky over the long term than the stock market.
I have a friend from a poor country. She worked long hours overseas for 4 years so far. Her work is from 6 am to 10 pm and she gets paid only 600 a month. That don't seem much. She and her husband back home decided to take a chance on bonsai tree business. The money need would take about 2 to 3 months pay for her and they did it. Now the business is doing good she finally is building her dream home they have a car, and they are from a poor country where most people struggle to put food on the table. I learn from people like these. I said to myself wow I am from the USA and don't even have savimgs to fall back on if something happen.
The most entertaining part of this video is reading people arguing like grade school kids. I tell you guys there is no such things as get rich quick, only get rich quick frauds. The bottom line it takes hard work, along with knowledge and discipline which including my self do not have that's why we are poor. Everyone knows how to get rich but nobody is willing to do the effort. Heck you can get rich starting out by living a frugal life. Figuring out how to get rich is not hard it is taking action that is really hard. These fraud have you believe that there is a secret nope then if there was almost everyone who watch video like this is now a millionaire.
Global warming is total BS. Even if it were true, there is really nothing that man can do about it. The forces of nature that regulate global temperature are far to powerful to be significantly affected by anything that man can do or has done. The global warming scam is all about money and the attempted initiation of a globalist government. Wake up and recognize that government thugs who spew this crap are not your friends, nor do they care about the planet. They only care about themselves and what they can steal from you. Any halfway awake person already knows this...
I Respect this smart men i read couple of his books but Most people to blame on the planet in earth is them if people know what i mean about Petrol Guns and bullets ..... ! Where is War there is a lot of money Like Guns Bulets. MEdicins,Human Organs,prostitues ..drugs ...
If you can't do any of the 4 then there is 1 thing that you can do that all rich people do. PAY YOURSELF FIRST. Pay yourself first" is a phrase popular in personal finance and retirement-planning literature that means automatically routing your specified savings contribution from each paycheck at the time it is received. Because the savings contributions are automatically routed from each paycheck to your investment account, you are paying yourself first. In other words, paying yourself before you begin paying your monthly living expenses and making discretionary purchases.
If stock market fluctuations keep you awake at night, it would be better not to throw yourself into buying stock.
Investing to pay for higher education for your children, to finance a sabbatical or your retirement involve different investment strategies .
To invest in the stock market , it is strongly recommended you have an investment horizon of at least 5 years .
Tools and tips.
2. Define the analysis method.
A variety of analytical tools are available to gain a better grasp of the plethora of economic and stock market information.
The quantitative method analyzes some economic variables to detect trends.
Complementary tools exist as well. Contact your financial institution to find out what tools are available to you.
Tools and tips.
This video introduces the analysis tools and methods you will need to make informed investment decisions.
3. Formulate an investment policy.
This involves setting a direction for your portfolio. The direction is based on 4 principles.
Diversification means a decline by some securities is offset by an increase by others.
Tools and tips.
This video will provide 4 key tips to managing your securities well.
4. Evaluate and monitor your portfolio.
Some events may prompt you to change your portfolio to keep it in line with your investment policy.
Tools and tips.
5. Improve your knowledge.
The investment world is changing constantly, which means you must update your knowledge continually. Rather than being satisfied with what you already know, keep on learning .
Tools and tips.
Investment Portfolio Management.
Investment Portfolio Management is the art of putting together and managing various investments to meet specific goals. We will examine management strategy choices, asset allocation and investing strategies, and management of risk as they pertain to management of an investment portfolio.
Passive management is for investors willing to accept market returns. Using a fixed asset allocation with a portfolio comprised of index funds would be examples of passive management.
Asset Allocation Strategies.
Strategic Asset Allocation.