Don't Make These Mistakes | Brutally Honest Money Advice from One of the World's Wealthiest Jews

[@CastleHassall]

i wish you would be my honorary Uncle and Cousin! my family fragmented so much over the generations.. you seem like really good hearted folks and it would be great to have you here for dinner sometime and be my guests if you are ever in Scotland.. thanks for doing this video Best wishes to you all from Rolland at Castle of Hassall on the edge of The Atlantic

[@anibalperez3358]

M 0

[@richardamiss192]

I'm 60. No one taught me about money. Learning as much as I can now. I love it!

[@mattsarac9920]

Better than any book I bought in business. Listen this 2-3 times, will change your life for sure. Incredible interview congrats. Worth thousands of dollars for free.

[@DrRichardRoberts]

I'm glad to have been helpful.

[@camels9654]

I work 16 hour days, running my business, and every word this man spoke I felt in my heart. You will seldom hear truth like this anywhere, hands down one of the finest interviews I have ever listened to! Thank you for this!

[@eleanormaitha5698]

❤

[@EricBoston1992]

Wow, Working your butt off! Keep working hard, learning, & adapting strategically, and your success will compound & accelerate over time. - I’ve been working 7-days a week, 60-80 hours a week, so I can allocate the extra money to assets like tech equities, a little to index funds, but since Summer ‘23 I mostly buy crypto (VERY selectively though, bc most are scams) while the prices are still quite cheap for many of the actual high-quality new alt-coins. - Thanks to my hard work, relentless research, & patience, I’ve been able to triple my net worth in 9 months. Never give up! It’s a lifelong journey, to ever-expanding fulfillment & financial freedom 💰😇🛩️🏝️🛥️🎶

[@EricBoston1992]

Wow, you’re working your butt off! Keep working hard, learning, & adapting strategically, and your success should continue to compound & accelerate over time. - I’ve been working 7-days a week, 60-80 hours a week, so I can allocate the extra money to assets I’m personally confident in. For example, tech equities, a little to index funds, but since Summer ‘23 I mostly buy crypto (VERY selectively though, bc most are scams). - Life keeps getting better, thanks to my decision to get MUCH more serious about my future (after wasting most my 20’s on hedonism), & thanks to my hard work, relentless research, & patience. Never give up! It’s a lifelong journey, to ever-expanding fulfillment & financial freedom

[@molo8657]

Please bring your Uncle back as a regular guest. Fascinating!

[@Larrrytheman]

Dr. Rich Roberts is one of the most generous and humble person I have ever had the privilege to know! He is a true inspiration to all of Klal Yisroel!

[@nyisles87]

100%

[@fugu-hx7xq]

❤

[@sterlingoldemeyer1203]

I see value in his words and see that he is humble and generous. However, these are not the qualities of Donald Trump. I don't know why he is allowing his reputation to be tarnished by his association with a corrupt andmorally reprehensible individual like Donald Trump. It saddens me when otherwise wonderful people get taken in by this conman.

[@anomanderrake8693]

Im not jewish, but I have to tell you thank you for your channel, and this great interview with Dr. Rich. Keep up the good work friends! :)

[@mtrest4]

I'm not Jewish either. But I figured if anyone knows anything about money, it's these guys 😀

[@gcohn]

Dr. Roberts may not remember me, but his pharmaceutical company was one of our insurance clients! Incredible man.

[@georgeleles3710]

What an outstanding interview. I really enjoy listening to wonderfully intelligent people speaking logically.

[@katereznikov8792]

I am 65. Never late to learn ❤

[@davidc4408]

​@@rarecase3666 2% rule and do not trust none regulated

[@susanjaneleitner7670]

I’m a fan and almost 77 years old! Loved your Uncle Rich! Thank you again for a meaningful and enjoyable conversation! See you soon!

[@LivingLchaim]

Love. It. Thank you!

[@tone0757]

I followed this concept since 2018. I started with $100 as mentioned here and invested in companies I knew and trusted. To this day I still don’t do much in chart analysis. I just invest no matter what an amount I’m willing to burn. If it goes up I invest if it goes down I invest why because I trust in those companies to move in the right direction. Since then I was able to grow my overall investments to over $100,000 close to $200k. It works I just wish I did this in my 20s rather than my 30s. I take more risk and invest more on the side of individual stocks however still invest in ETFs.

[@jay_stack1270]

Smart! I am also just starting out late 30's ....also investing heavily in individual stocks especially: Air Taxis, Quantum computers and Battery lithium companies for electric cars

[@nathanielamakye3933]

What companies did you invest in?

[@Zensci18]

Impressive, but 200k will get you 3 maybe 4 years of private day school tuition at most schools in observant areas located in high cost of living areas. So, what you’ve done is super impressive but unfortunately a drop in the bucket for living an upper middle class frum life in most major USA cities like New York, Teaneck, Boston, or LA.

[@tone0757]

@@Zensci18I’m actually from NY. Degree in Computer Science with a yearly income over 200k. I will be ok 😊

[@zensci]

@@tone0757 I make over 200k a year and live in a high cost of living area as well but it is not so much us I'm concerned about. It's the next generation. If you got rich parents or trust fund -Kol HaKovod. I didn't but managed (though my retirement 401k etc is nowhere near where it should be) but will my kids? I frankly will advise my kids to move to a lower cost of living area, so they don't have to put 300-400k on a down payment for a decent home that isn't a "fixer upper". Living in Manhattan, Pico or DC just isn't worth it anymore.

[@zacharyarmenti2833]

Thank you! One of best podcast interview on KZbin

[@DrRichardRoberts]

Thanks you. You're very kind.

[@tornike8593]

I love this channel im from Georgia,tbilisi my early 20s watching and listen wise Jewish people about money my school doesn't teach me anythi g about this or my family my friends doesnt talkabout this but this thi g is so important thank u so much!!

[@benz500r]

That's what being a true Jew is all about, a great and smart man. It was a pleasure to listen to him.

[@DrRichardRoberts]

I appreciate your kind words. I try to be helpful.

[@cristiano6902]

Good morning ​@DrRichardRoberts I have a spare £25k, what would you suggest to invest in? I have several places to put the money in; fast food resturant, Investment portfolio, property and rent to student near a university, use as capital to my existing landscape partnership business or revive my CBD Litty brand business? Your guidance is appreciated with many thanks. Regards, CDSS

[@benz500r]

@@cristiano6902 If you don't know how to actively and profitably trade it then invest it in one of the indices, for example SPY. On average your gain should be just as good as some of the managed funds without unnecessary management fees.

[@Tony-o5p1m]

Not sure how I found your channel.... but your guest is spot on!!

[@margottomasik2108]

I am not a Jew and really enjoy Dr. Rich Roberts. He worked so hard, said he was beaten to the pulp. He deserves where he is in life and everything he is saying is SO true. I have been and done that, maybe did not made as much but enough. Please follow his wisdom.

[@jmc8076]

We’re all human and mote alike then different. Humans share ~99% DNA and some with rest of nature and life. : )

[@JulieN-v4r]

I listened for the second time!, please with demanding a second podcast 🙏🏽 with your uncle.

[@ricardofigueroa2086]

So much great information, this podcast is better than an MBA!

[@shareecundall1403]

Wonderful information! Thank you for interviewing such incredible people! I also want to thank these folks for sharing their wisdom ❤

[@plannerqueen]

I adore your fish tank.. 🐠🙏 and the interview is excellent too.. thankyou for sharing

[@DrRichardRoberts]

Thank you for your kind words.

[@sionjajate]

Really enjoyed your financial perspective and enjoyed this podcast. Sion Jajate, CPA.

[@jamesmsalilwa8733]

I liked the 2% rule. God bless you!

[@SriJ007]

Excellent podcast as always! Priceless! Thank you guys and keep up the great work. Love from India!

[@valentinomc]

"When you tell people 'no,' they don’t take 'no' for an answer because they’re professional collectors." wow 😮 He nailed it right there.

[@OHR36]

The best interview..so far..being rich and knowledge amd humble and smart..wow..I liked what he said..even i say that..Need money for family and Tzedkah..BH! Excercise and eat healthy...its a Mitzvah from Torah

[@BeNNzuFG]

Diversification coupled with monthly investing coupled with buy and hold is the gold standard for the average joe investor. It is so easy with stocks nowadays. Buy a FTSE All World ETF every month, some physical gold, some fractional real estate assets and there you go. Funny that he says exactly the same stuff that the German ETF goods I know have been saying for years (Gerd Kommer, Andreas Beck). What he says holds truth. Not only in the US, but worldwide.

[@victokirabo2409]

Listening from uganda. Thanks for the podcast.

[@michaelduane4454]

Beautiful country

[@hlathaung368]

Thanks!

[@USetareh]

One of the best podcasts you have made !

[@hasdrubalsosamarquez5430]

As a Goy I have had the privilege of delivering groceries to Dr. Roberts home seeing the same Fish tank in the background 😅 To this day he throws the best Chol'moed events for the neighborhood. Blessings to you Doc 🙏

[@DrRichardRoberts]

Thank you for your kind words. Please tell me who you are the next time that you're here.

[@fredrickkoech8396]

Always do due diligence. Put money in an escrow account until the property is already bought

[@rb1384]

I’ve learned so much from your podcasts, thank you! I hope Dr. Roberts would be the next ambassador to Israel. God bless you both !

[@kiranwingelaar7009]

Many advisers recommend index funds. During Covid I made money buying individual stocks. My IRA soared then. I’ve had poor returns with mutual funds. I remember investing in the much touted Magellan fund with Fidelity. Those returns were not as good. It was predicted that it would double. It did not.

[@DaveArnold-r4j]

I am 77 years old and still interested in investing in the stock market.

[@efulton9]

I love that you guys translated the Yiddish and Hebrew being used. Thank you!

[@stoneone4838]

I love my employees, i dont talk to them. But i love them

[@marksoberay2318]

did he say that? I missed...hilarious

[@EcomCarl]

his emphasis on the principles of diversification and regular investment is a timeless reminder that patience and prudence are the bedrock of successful personal finance. Excellent points on maintaining discipline even when the market seems against you! 👍

[@EliCohen1]

WOOOW! This is your best interviewee by far! He’s so good and on the money!

[@DrRichardRoberts]

Thank you for your kind words.

[@JulieN-v4r]

Wow so much knowledge, so much wisdom, please need a second interview with your uncle Dr. Roberts. Thank this is one of the best interview so far in your channel. Muchisimas Gracias ✡️🇮🇱❤

[@private464]

41:36-42:00 and 1:03:46-1:04:15 are GOLDEN pieces of advice! Thanks for this great interview. Common sense is just not that common!

[@bigghouse101]

I liked this guy, but when he started talking self-defense, I liked him alot more! He's right IMHO. He seems like a wonderful man.

[@chewie1355]

Thanks

[@lifehacksandlessons920]

Thank you for the interview, humility goes a long way. Well done.

[@ronellsmoothlewis]

Someone thats is black and voting he is 100% correct. More and more of the community understands financially benefits now. And understand policy now

[@righteousdivine]

Same boat, and I absolutely agree. I've personally been saying this for over 20 yrs. I believe this is why there is such a focus on an open border policy. Democrats know that we are 🤔, and are setting up for a new voting base.

[@DrRichardRoberts]

​@@righteousdivineThat's an intriguing insight. I will think more about that.

[@DrRichardRoberts]

I can't fully express my deep pleasure at seeing how black people have progressed in America over the last 50 years in so many ways. Social media, and the ubiquity of cell phones, have given platforms to black people who were previously silenced (as well as everyone else but that's not the topic here). I LOVE IT!!!

[@righteousdivine]

​@DrRichardRoberts when you say most ideas fail, how do you know the line between sunk cost fallacy and being "3 feet from gold" ?

[@bwanaemmanuel5952]

A brilliant gentleman who is saying it as he sees it. Loved the interview. Thank you both.

[@kamilstrygner3994]

No shortcut to greatness. Interviews with very rich people are not spectacular. No magic recipes, only prudence, work and patience.

[@DrRichardRoberts]

You understand everything! Don't be misled by get-rich-quick schemes, or stories, that result in you paying someone else for what isn't true.

[@GordonAnderson-c6m]

Really like this guy the guest I mean both really very sincere

[@nocheastral8219]

I love your channel , So glad The Eternal blessed you with a Great Uncle , Humble and wise , I admire and Respect, I would also recommend to watch your words , don't say you are bad at your finance , don't say you would probably shoot your leg if you had a Gun...Because you're attracting that! and also It shows you don't have self esteem because you Don't value your capacity and capabilities instead you make yourself less and not enough...Wich is not true , "we become what we think" , so start thinking your capable of having good finances and capable of caring and handling a Gun correctly and efficient ly. Start aproving yourself instead of desaproving and feeling not enough or capable. God Bless🇲🇽🇮🇱✡️💯👍🥂

[@regnalnevets]

Excellent

[@mariapalumbo6630]

THANK YOU FOR SHARING YOUR LIFE AND YOUR KNOWLEDGE!!!WISHING YOU A BLESSED AND PROSPEROUS NEW YEAR!!!

[@fredrickkoech8396]

Diversify, run from friend who wants to borrow money.Dont put more than 2% of your money in one basket

[@commandersprocket]

The millionaire next-door was written in 1996 at a time when rent was not grotesquely high. 43% of renters pay >35% of income on rent more than 50% of renters are cost burdened. The perspective Roberts brings is historical, the cost of housing changes everything.

[@DrRichardRoberts]

Very interesting point. There is value in living in a smaller space that you own and buying a used car instead of a new one that you lease but don't own.

[@PascalPascual-rn6fx]

Listening from Tanzania.

[@carolannstevens5814]

Love this interview!!! Thank you to your Uncle and you!

[@markdansky8796]

An incredibly good listen. Question, Rich states very strongly don't trust private investment. Yet his business, I assume private, rested on the two investors putting in $15m. How do you reconcile?

[@shearwater8732]

Excellent Question

[@DrRichardRoberts]

You are 100% correct. Many billionaire investors will invest $10MM (which is 1% or less of their assets) in a lot of small private companies knowing that if a few are very successful them it will compensate for the failures. But they also do significant due diligence on each investment which they are equipped to do.

[@DrRichardRoberts]

​@shearwater8732 You are 100% correct. Many billionaire investors will invest $10MM (which is 1% or less of their assets) in a lot of small private companies knowing that if a few are very successful them it will compensate for the failures. But they also do significant due diligence on each investment which they are equipped to do.

[@A91367]

Correction: Small error about gains from money market accounts. They generate interest income, not capital gains (which come from selling assets). Interest income is taxable as ordinary income at the federal and state (depending on your state) level. It’s an important distinction because it’s taxed annually and it’s higher tax than long term capital gains (assets held for over a year such as home, equities, businesses … Beautiful comments on mental health, peace and happiness in relation to wealth.

[@bengeorge69]

He addressed the great challenge we face obesity from sugar and carb.

[@higiniomorales459]

Darn good investing advice, he's up there with Jack Bogle and Warren Buffet.

[@teddmented]

That aquarium is amazing

[@DrRichardRoberts]

Thank you. It's not much work now that it's all set up.

[@stessassss2695]

For me it naturally happens to have my own business because of what I do ... I didnt plan to have a business it was just a natural process

[@michelleW007]

There ARE people in their 50s listening. Not just young people need to start again for goodness sake.

[@brook9303]

Incredible episode! Best episode on this channel!!!

[@abhi-ft7sk]

Both of them are greatly sharp smart and intelligent mind of scope.... amazing podcast love u from India 😍🇮🇳🇮🇱

[@stessassss2695]

Billionaire is what i see myself being and most of that will go to helping people in need .. 😊

[@chrisrizzo627]

I’m not sure how this video came up in my feed but I’m very glad it did. Excellent interview. You’ve earned a new subscriber. Well done!

[@luisrojas7987]

Thank you so much for this great interview. Interesting to notice that a veey wealhty man can be risk averse and with a down to earth approach instead of being a risk lover.

[@judahrossrealtor]

I love your show man.

[@shmuelrosen6032]

Love how real this was

[@МарияТод-т1у]

Thank you so much ❤❤❤

[@davidwollenberg1758]

Pretty good advice never thought about how giving to charities could backfire. Very interesting

[@henryterranauta9100]

👏🏼👏🏼A very kosher set of advice 👏🏼👏🏼Great interview👏🏼👏🏼No wonder you have a very rich uncle !👏🏼👏🏼 👏🏼👏🏼זייער כשר'ע עצה 👏🏼👏🏼גרויס אינטערוויו👏🏼👏🏼נישט קיין וואונדער אז דו האסט א זייער רייכן פעטער!👏🏼👏🏼

[@Rrg29]

Fantastic video! Great advice! Thank you

[@dagreatstoney.5869]

This man is wisdom, thank you 👍

[@philipnguyen3107]

This man have read the book called the richest man from babylon. But update to modern time.💯👍🙏

[@noni6656]

Real wisdom of life not only money. grt job

[@DrRichardRoberts]

Thank you

[@BDAILY365]

Haah, I didn't expect the tactical gun chapter from this video. But I'm all for gun rights! It's a freedom to keep us safe from bad actors and corrupt government! It is dangerous, hence you need to take full responsibility in learning how to use it safely...which is very easy. I used to do martial arts for years, and own other weapons, including verbal de-escalation from my mental health job. Let me tell you, the gun is the equalizer. mind you I also bench 300lbs, but there are always bigger and stronger people. Bad actors also come in groups, and they got weapons. Best is to have and not use it. Beter than best is to use situation awareness...staying away from bad people/places/things! ShunZu's best teaching is to run away to live another day. You will have a bad luck day, and that's all it takes.

[@katherinewolf3063]

Best is to have it and know how to use it.

[@DONALD1951]

72 and listening.

[@Meirele]

His name says it all! RICH!

[@theonewhoknows9615]

Excellent Podcast!!!!😀

[@1974Cherry]

Love love loved it❤❤

[@asafhussain6779]

Very wise words. Thank you for sharing.

[@indranidasgupta1511]

So valuable talk… people loosely spk about Risk.. I encounter such ignorant talk from my clients who really don’t understand the basic premises of investment…

[@rosehenderson-wy6tr]

Thank you for valuable information. I am in my 50s.

[@behappy528]

Fascinating as always!!

[@alexandrebeinotti3359]

Great interview. Greetings from Brazil 🇧🇷

[@LivingLchaim]

We love Brazil! I did a school project on Brazil in 2nd grade. :) - eli

[@jad1714]

Great interview

[@seanalderson653]

Shalom thank you guys so much🎉

[@CC-kl4nh]

Running a business is NOT easy! Not only do you have to be there everyday but you have to worry about taxes, payroll, labor laws, etc…. It is never ending!!!

[@jeffcokenour3459]

Wonderful insight, thank you. Something interesting related to the discussion of technology is that the people I know who are now the most financially successful have nothing to do with technology, but are in landscaping, construction and even animal husbandry. Has fewer and fewer people know and want to work with their hands I believe these fields will become even more successful

[@mrcmid9132]

👍 absolutely excellent advice. I know from my own experience.

[@חנהדייויס]

Thank you 😊😊😊😊

[@apophisxo4480]

Great interview!!! Thank you!

[@realdeal139]

Great episode! Dr. Robert’s is. Gem!

[@CC-kl4nh]

Love this. Dr. Rich Roberts has great advice. I’d like to know what he thinks about making money without working to the bone because I am burnt out. My joints are killing me. What can I do?

[@144Donn]

The last segment about health could be the most important part of the interview. Consider one who has made lots of money throughout their life but have ignored their health. They will wind up forking over all of their money to hospitals and rehab centers and nursing homes. If you want to keep the money you have earned, live well NOW! Work out and go plant based! Super Interview! What an awesome uncle you have!

[@LivingLchaim]

Thank you! I've been wanting to cover physical health for a while and I'm glad he hit that segment out of the park! - eli

[@gregszczygiel814]

I really wish he expanded on the nutrition advice. He just said avoid sugar and carbs. What does that mean? Should we avoid sugar in real fruit? Also avoiding carbs? Should I stop eating quinoa and lentils? I’m sure he would agree that we need to avoid “added sugar” and “refined carbs” but he left it way too open ended in my opinion.

[@psychedlife197]

Plant based is a start but unless someone has an auto immune or health problem related with meat/chicken it is absolutely essential to healthy living, hatzlacha.

[@Lisajen-h5u]

@@gregszczygiel814it’s not that hard look up the keto diet. This is not devoted to health. Be grateful he threw the advice in at the end of the video.

[@144Donn]

@@gregszczygiel814 Fruit is fine! General rule: if it comes from the ground it is perfect food. The problem is when the fructose is separated from the fiber. Fruit is good for you and have many nutrients and vitamins. Simple carbs are not so good! Lentil and Quinoa are not only tasty THEY ARE WONDERFUL whole foods!

[@BlackBelt5thDegree]

Fantastic video Rich ,great information as always from you , thanks ,Much Love and Nachas Bratha , Zalman Wid.

[@AniBAretz]

Impressively educational. Very appreciated!

[@williamgates2466]

I needed to hear this interview. Thank you for sharing

[@IIIIALBYIIII]

amazing content, inspirational and great life lessons. thank you

[@FatherGoz]

"Look at me I'm driving my Bentley. Hi!" Unc is right, and I know so many of those people.