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Monday, February 24, 2020

7 Things Rich People Buy That The Poor Don't #Best Education Page #Online Earning

7 Things Rich People Buy That The Poor Don't

have you ever wondered to yourself why
do the rich get richer while the poor
struggle to make ends meet one of the
main reasons is because rich people
spend their money on assets and not
liabilities and expenses and in today's
video we're gonna be talking about the
seven things that rich people buy that
increase their wealth so basically this
breaks down into three parts right rich
people buy assets that actually increase
their wealth middle-class people buy
liabilities that they think are assets
and poor people spend their hard-earned
money on expenses and so right up front
I'm going to acknowledge that how I'm
gonna classify these assets and
businesses don't go directly in line
with accounting trust me I majored in
accounting and a long long time ago I
actually was an accountant so I
understand what traditional definitions
of assets and liabilities are but I'm
gonna talk about how rich people
actually view their assets and view
things that actually make them richer
because it's very very important to
understand this difference in mindset
that rich people have relative to the
middle class and to those who are poor
so let's take it straight off with
number seven and we're gonna count down
all the way to the number one most
valuable asset and that rich people have
that other people generally don't and
number seven is precious metal so most
of us have probably heard of gold but we
probably don't understand just how
valuable it is to most rich people
because gold before you know digital
currency cryptocurrency
physical dollars and things like that
existed literally was the currency for
much of the world and gold is still
backed by our traditional currency and
rich people like to hold on to gold
because throughout history gold has been
one of the most recession-proof assets
and that it's possible to own which is
why gold is a very important asset to
actually include into your investment
portfolio and which is why many rich
people do include that in order to
diversify you know their real estate
holdings and their stocks and bonds
holdings just because gold historically
has always been a very safe investment
relative to other investment strategies
the number six thing that rich people
buy that the poor don't is education
right and I don't mean necessarily
college here there's a lot of people who
go into deep
student loan debt and things like that
and they become poor or they go from
middle class to poor or even rich to
middle class because of these crazy
college fees but education and self
education is something that rich people
buy all the time whether they're you
know purchasing mentorship whether
they're attending self education classes
or seminars or networking events rich
people understand that they can get more
out of their investment into education
than the cost of the education itself
and this doesn't even necessarily only
mean a self education rich people
understand that it's worth it to pay for
expertise and what I mean by that is
literally going and hiring the best tax
preparation person or the best
accountant because those types of people
might be expensive in the short term but
they're gonna save you you know
thousands hundreds of thousands or even
millions of dollars over the long term
if you actually are willing to pay a
little bit more to find these experts
because it's not possible to be an
expert in everything in life so rich
people understand that it's the best
option often to actually go out and buy
the best expertise to actually apply
that to your own life which is in the
long run going to save you money one of
the biggest differences between poor
people middle-class and rich people is
that rich people have a long term
mentality where they're thinking about
the next five years ten years down the
line number five is an audience right
and this is a strange one that a lot of
people don't really understand and can't
conceptualize but an audience is the new
form of rich right recently in the past
even like thirty fifty a hundred years
how you actually became rich and became
wealthy was by owning the most stuff
right owning the most land owning the
most buildings owning the most real
estate and things like that but in
today's day and age the people who are
rich are the people who have the most
attention reach and audience right and
what do I mean by that I mean people who
have subscribers on YouTube you know
followers on Instagram people that they
can reach with any type of offer that
they're trying to sell right if they
want to sell a t-shirt and they have an
audience they can send out make a video
send an email and hundreds of thousands
or millions of people are going to see
whatever they're trying to show them and
that is incredibly powerful the new form
of rich is people who have what's called
attention currency and attention
currency is literally the most valuable
thing that I personally have ever found
it's the only way that I've ever
Sene being able to click a button
clicking the send button and watching
tens of thousands of dollars flow into
your bank account
just from the click of a button right
that is the new form of rich and that is
very exciting stuff understanding what
it takes to build a personal brand and
building an audience is a topic for
another video but that is something that
rich people understand is worth buying
right buying attention with paid traffic
buying attention to actually build up
your social media and followership so
that down the line when you have
something to sell to those people you're
able to do it number four is a paper
assets and when I say paper assets I
mean things like stocks bonds mutual
funds index funds the things that you
can actually invest into with your money
that are going to generate you passive
income without any additional effort on
your part and when it comes to these
assets some rich people actually prefer
to buy assets that are going to generate
you dividends right actually pay you
passively in income and some rich people
prefer to actually buy assets that have
a high likelihood in their opinion of
actually appreciating in value right
because if you had bought Amazon when it
first IP owed for $14 or whatever it is
you know now each share of Amazon is
worth close to two thousand dollars
which is a ridiculous return and so if
you pick the right stocks and you have
some type of information that you know
the general public doesn't have or you
have faith in the leaders of the company
and the management and the systems and
their competitive advantages right those
are the types of ways that rich people
just leave their money in these high
performing stocks and watch them just
continue to grow the number three thing
that rich people like to buy that the
poor and middle class don't is equity
right and this can be either bought or
actually created in a company that you
actually found but rich people
understand that ownership is one of the
most important things to actually
accumulating wealth and so it's why rich
people are so careful giving away any
percentage of the equity in a business
or a patent or a copyright or an idea or
something that can be licensed down the
road or sold off as an asset itself and
so rich people understand that actually
being the owner of a company or
partnering with someone who's starting a
company and assuming some you know
equity percentage of that company is one
of the most valuable things the best way
I can illustrate this is with someone
named
show and now David show actually was a
graffiti artist who was hired to paint
the campus of Facebook in 2005 and they
asked him whether he'd like to be paid
in cash or he'd rather be paid in equity
right or a percentage ownership of
Facebook stock and the offer that he
actually gave was if you want me to
paint the entire building I'll do it for
$60,000 or Facebook offered him a
percentage of the actual ownership and
the stock so he basically had the
decision of either getting $60,000 cash
to actually paint the building and paint
the campus or a percentage ownership of
the company and equity in Facebook his
decision to actually choose equity
instead of the $60,000 up front ended up
making him over two hundred million
dollars and so that is probably one of
the more lucky scenarios in all of
history when it comes to choosing cash
or equity but it's a perfect example of
why equity is so important and why rich
people actually always prefer to have
ownership inside of companies number two
is real estate this is probably one of
if not the most popular asset classes
for our rich people and most wealthy
people either make the primary portion
of their money from real estate or they
park a lot of their extra excess money
into real estate whether it's revenue
generating real estate like rental
properties or it's just buy and hold
real estate like houses and things like
that in nice neighborhoods inside of
affluent cities and with the
introduction of Airbnb now real estate
holders actually have so many more
options when it comes to making money
with their real estate right because you
can buy and hold you can buy and flip
you can actually rent it out with Airbnb
you can have long-term rentals right
there's all these different options but
being able to actually afford the house
to be able to rent it out it's one of
the best kind of income generation tools
that rich people use that middle-class
and poor people don't and if you're
asking yourself why do so many rich
people owned real estate well one of the
reasons is banks and lending
institutions love real estate they love
the fact that it's physical that it's a
real thing it's tangible that you can
actually tie down to the money which is
why they lend out so much money for
people to actually buy and develop real
estate and because banks and these
lending institutions love to lend money
for real estate that is one of the
biggest reasons why rich people buy real
estate
people have the assumption that rich
people use all of their own money to do
these things but oftentimes they're
using other people's money and they're
borrowing cheap money to actually invest
into assets that they you know have a
good idea are going to appreciate more
than the interest to borrow that money
actually costs and that is when you
really start to leverage the true power
of other people's money to make you
richer and the number one thing that
rich people buy that poor people and
middle-class people don't we are gonna
get to in just one second but I do want
to give a shout out to Patrick Cogan who
said this is a great video Kevin lots of
useful tips you're killing it and
motivating me to do the same on my
channel as well Thanks so shout out to
you Patrick and if you want to be our
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so number one guys the number one thing
that rich people buy that poor people
don't is businesses majority of all
wealthy people have made their money and
continue to make their money through
businesses that they actually create
right it's impossible for the most part
to become truly rich and financially
free being unemployed so you have to
actually understand that rich people are
always the ones who assume the risk and
create the companies and they're the
ones who actually make the most money
because they're doing the most work and
not everyone wants to take on all of
that time and responsibility and risk
and have to be responsible to paying all
of their employees and things like that
but businesses are probably the number
one cash generation tool that wealthy
people use and again equity and
ownership of those businesses is really
what catapults people into a millionaire
multi-millionaire and even billionaire
level right most billionaires are
billionaires because of their ownership
of the companies that they take public
and when you create an automated
business and something that's making you
money even while you're sleeping right
that allows you to accumulate wealth
without directly exchanging your time
for that money right that is what
passive income is and that is how rich
people truly start to become rich so if
you want to learn more about passive
income what I recommend you do is check
out this video right here and we're
going to talk about how to make $5,000
per month with YouTube which is one of
the most scalable ways to make
passive income so check it out right
here and we'll see you there social
blade is a cool website you can see what
anybody makes what we're looking at
right here is estimated monthly earnings
this says six point seven thousand
dollars an estimated monthly earnings
this right here says you know almost 1
point or a little over 1

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