RICH GET RICHER, POOR STAY POOR... why? #Best Education Page #Online Earning

how's it going today guys I hope you

were having a fantastic day today we're

gonna be talking about one of the most

important lessons I have ever learned

and I'm ashamed to say I did not learn

this lesson until I was 20 years old and

I read the book known as Rich Dad Poor

Dad now I'm sure you guys have heard of

this book and I'm sure most of you

watching these videos have already read

that book but for those of you that have

not had your eyes open to this I hope

that I can be the one to share this with

you as it is a very valuable life lesson

what we're going to be talking about

today is the four types of income out

there and the unfortunate truth is this

is not something you learn in school

certainly I did not learn this in school

and if you guys learn this very valuable

lesson in school that I would recommend

sending your teacher a card and thanking

them because they really have benefited

you more than you know by showing this

to you early on but the unfortunate

truth is if you go out there and you

talk to most middle schoolers or even

high schoolers and ask them how do you

make money most of them are going to

respond by saying well you go out and

you get a job and the truth is there are

different ways out there that you can

make money and my goal with this video

is to show them to you and then ask you

at the end what type of income seems

most appealing to you what type of

income should you be looking to earn but

let's go ahead and start out with the

most popular way people earn income and

that is to earned income all right

so earned income is a direct result of

your labor this is going to be the job

you have or if you're a business owner

it is going to be the income from your

business now what I call earned income

is impatient income and this is going to

make more sense when we talk about

passive income which in my opinion is a

much more appealing form of income the

reason I call this impatient income is

because you're going to be getting paid

for the hours you work at the end of the

week so every hour that you work you're

going to get paid and if you own your

own business you may not even be getting

paid for those hours but hopefully if

you own your own business your goal is

to eventually turn that into a passive

income source or a very significant

source of earned income that is

significantly higher than what you earn

working a job where you're paid hourly

or paid a salary now this is impatient

income because you want rewards today

you want the money now you want the

money at the end of the week you're not

willing to put work in now with little

to no

come coming in for a much greater return

going forward you want your money now

and that is why I see this as a very

impatient form of income now there are a

number of problems with relying on

earned income for your source of income

first of all it's going to get harder as

you age especially if you work in a job

where you're doing manual labor if

you're laying bricks or you're an

electrician or you're working outside as

you get older your body is going to

deteriorate and it's going to be harder

for you to actually do that job but the

problem is this type of income stops

when you stop working as soon as you're

off the clock at five o'clock for those

next 16 hours you're not making any

money at all you only make money when

you're at that job and actually putting

in that direct labor to earn that income

and the other problem is that this type

of income is only scaleable with your

time so if you're working 40 hours a

week and you say I want to make more

money and you're only looking at earned

income the only way you can earn more

money is by putting more hours in now

you're gonna have to work 50 hours a

week or 60 hours a week and I don't know

about you guys but I have no desire to

be working 50 or 60 hours a week if I'm

looking to make earned income now if I'm

working 50 or 60 hours a week on

something that is going to pay me

passive income that is an entirely

different story I would be very happy to

do that but most people only make earned

income and this is where they run into

trouble so the next category of income

is what I really focus on with this

channel and that is investment income

this is when you take a percentage of

your earned income from your job or your

business and you put that money to work

in Rich Dad Poor Dad they talk about

making your money work for you at this

point where money becomes your employee

now there are a number of different ways

you guys can do this I talked about this

a lot in my channel primarily through

investing in the stock market you could

also invest in bonds maybe you want to

invest in crypto currencies I would say

be careful but still that might work for

you but the main goal here is to take

your money not spend it all but direct a

percentage of it into assets that are

going to appreciate in time or those

assets are going to pay you going

forward if you put your money into

dividend stocks you're going to get

those regular cash payments every

quarter and you can reinvest those

dividends or you may at some point

decide to live off of those dividends

what you're doing is allowing your money

to grow into more money and essentially

planting your

in the ground and growing a money tree

now is this gonna make you rich

overnight absolutely not

but if you start this when you're young

by the time you're older and it's harder

for you to go to your job and make

earned income you'll have enough income

built up from your investment income

that you're not going to have to worry

about making that earned income anymore

now the next category of income is one

that I think is going to be most

appealing to people it's certainly most

appealing to me and that is earning

passive income now passive income is

known as low to no effort income if it's

purely passive income it is no effort

income you're putting in zero hours a

week and every single week those checks

are coming in now if it's low effort

income than it is mostly passive income

and slightly active income but

eventually your goal is to make that be

a completely passive income source for

yourself and your family so what is

great about passive income is the fact

that it continues to come in when you

stop working if you decide to take a

vacation or if all of a sudden you get

sick and you're in bed you're going to

continue to make money now myself I earn

a good amount of passive income due to

my line of work I make youtube videos

and what I do is I put in all the work

early on it's a lot of work to make

YouTube videos and start up a YouTube

channel and build an audience online but

now that I've been doing it for a year

and a half I can reap the benefits a

couple of weeks ago I had three wisdom

teeth pulled out and I was down and out

for like four days but all four of those

days I continued to earn income from the

work I had done previously and that is

why what I do is a form of passive

income now of course I still have to

make videos like this and making a

YouTube video is active income but the

goal is that this video will continue to

earn me money going forward after I am

done putting effort into it so a few

examples of passive income a main one

for people is real estate and again real

estate is not passive at first it is

going to be very active but the idea is

once you own enough real estate you can

pay someone to manage those properties

for you and you can just sit back and

collect your rent checks but early on

it's going to be a very active income

source another one is YouTube and again

it's going to be a very active income

source early on as well as doing ebooks

and courses the same thing it's going to

be very active it takes a lot of time to

produce an e-book or to create a course

or to build a following online

but once you've done that and put that

work in early on you can reap the

benefits from those seeds that you

planted early on and then finally

another example of passive income is

royalties and that is a purely passive

form of income so let's say you are

somebody who created a song that

everyone fell in love with and now every

time someone uses your song or placed it

on the radio you'll get a royalty check

or you get your royalty checks from

Spotify that is purely passive income so

your goal is to find out a way to earn

passive income and it's going to be

different for everyone but I want you

guys to start thinking about how you can

diversify away from earned income

otherwise you're going to work for every

dollar you earn and it's going to be

difficult when your body starts to fail

on you or you don't want to work as hard

when you get older and then finally

let's talk about inherited income this

is one that most people don't have I'll

tell you what guys I certainly don't

have any inherited income this is

generational wealth this is a matter of

chance and circumstance if you were born

into a family that has generational

wealth and they have millions of dollars

and you never really have to work for

your money well then I guess that is a

benefit to you but most people do not

have that I certainly do not have that

and I wouldn't want that to be honest

with you guys if I had that generational

wealth if I had that family wealth to

live off of I would certainly not be

working as hard as I am today I would

definitely not have a youtube channel

and I really am quite thankful for my

very humble beginnings because it gave

me an insatiable hunger for success

maybe it was the fact that I was

embarrassed when I was using my mom's

food stamp cards at the grocery store or

maybe it was watching my mom pawn off

her jewelry to pay for rent but

something clicked in my mind and I said

I don't want to have to do this I don't

want to have to go through that and I

don't want to put my family through that

and I don't ever want to be in a

situation again where I have to see my

mom do anything like this and so I know

I get a little bit emotional sometimes

talking about this because it's it was a

very difficult time in my life but it

really did make me hungry for success

and desire more for myself than than

where I had started

and so a lot of people who are in a bad

situation you know you look at it as you

know this sucks for me I wish I had

money I wish my family had money but I

would never change a thing about where I

started off in life

and so you know take it as a blessing

because I'm sure you're more hungry for

success than somebody who has

generational wealth to live off of but

your goal should be to create this your

goal should be to create generational

wealth for your family going forward

because maybe you don't want your family

to have to go through what you went

through and the only way to do that is

to get out of this quadrant get out of

the earned income quadrant maybe all

you're going to do is start making

investment income and that may be all

you have to do or maybe you want to

learn how to make passive income and

build that generational wealth and not

have to work for every dollar you earn

anyways guys that is all I got for this

video I hope you enjoyed it let me know

in the comments section below what kind

of income you are earning and where you

are earning it from thank you guys for

watching this video and I hope you have

a great rest of your day if you are

interested in learning more about

investing in the stock market I've

created a free course just for you the

link is in the description below here

are a few other videos you might enjoy

as well

#Best Education Page #Online Earning

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