11 Expenses All Rich People Avoid

[@charliekopp443]

A few more tips: 1. Make coffee at home most of the time. It will literally be 10x cheaper 2. Keep your car for at least 10 years, and don’t upgrade it because you’re bored. 3. Keep your phone for at least 1000 days. I’m currently on an iPhone 6s and it’s doing quite well . I’m about to hit the 5-year mark with it. 4. Learn how to cook. It’s very expensive to pay others to make most of your meals. Also much healthier to make your own meals (potentially). 5. Don’t borrow money to buy things, except a house and possibly a car. I have several cars, and the newest one is 11 years old. Yes they need repairs sometimes but it’s much less than a constant car payment.

[@sphericalspice]

"Learn how to cook. It’s very expensive to pay others to make most of your meals." Of course! Wise men know: Don't get married! Don't co-habitate! (Don't be a c*nt servant!)

[@Cassandra282]

Nowadays buying car is not advisable just save money for it. U can have a taxi/ grabs no maintainance insurance fuel …

[@sphericalspice]

@@Cassandra282 Why do you follow a stupid ideology!? Think for yourself, leftie! Who do you think is paying maintenance and insurance for a taxi?

[@edennis8578]

​@@Cassandra282 I agree. Car payments are the devil.

[@parkerbohnn]

I paid cash for everything my entire life all except rental cars. If you pay cash for everything you can't go into debt. Sleep more and you'll save more money. That gives you less time to spend money.

[@mathisnotforthefaintofheart]

12) Learn to cook instead of eating out. 13) Men: Stay single. 14) Open a Roth and pick couple of solid mutual funds if you don't have the nitpicking time for individual stocks. 15) Open an HSA 16) Drive a modest car. Did you know a LOT of well to do people drive Accords and Camry's? 16) Do not smoke/drink. It is not good for you. 17) Be a lifelong learner 18) Meditate from time to time. 19) Charity matters 20) Do spend on yourself once in a while, you can't take your money in your grave and life is short...it really is. No one knows when it's time to go.

[@phillipharris8159]

Well said.

[@lailaalfaddil7389]

This is financial advice and I never give financial advice: DONT LEAVE DURING THE BEAR. If you don’t want to invest…learn. If you don’t want to learn…build. If you don’t want to build observe. DO SOMETHING…other than leave. There is so much opportunity here. Take advantage!

[@lailaalfaddil7389]

Very true, I started investing before the pandemic and that same year I pulled a profit of about $750k with no prior investing experience, basically all I was doing was seeking guidance from *ROCHELLE DUNGCA-SCHREIBER* who's a guru in the game, you can be passively involved with the aid of a professional.

[@susannnico]

It took me 3 years to stop trying to predict what's about to happen in the market based on charts studying because you never know. Please, i need the help of your Investment advisor.

[@susannnico]

God bless you for sharing!

[@silverstar4289]

Are you saying Crypto will come back? Please say yes…..

[@CheckThisOut77]

“Be greedy when others are fearful and fearful when others are greedy”, Warren Buffett.

[@tpowell3776]

Number one: develop a skill that makes you money, Number two: Do not go into debt Number three: Study the stock market, real estate or whatever investment vehicle looks good to you Number four: invest in your preferred investment vehicle and save as much cash as possible Number five: You are Welcome

[@dancalmpeaceful3903]

Sorry....it's "You're Welcome"......otherwise, your advice is sound.

[@georgevavoulis4758]

T Powell thank you for the shortcut list 🙏

[@poshy6534]

@@dancalmpeaceful3903 you're = you are

[@dancalmpeaceful3903]

@@poshy6534 You are correct.....I apologize for my grammatical error. For lack of anything, personally , I cannot stand bad spelling, improper grammar, or outright bad English.. So...help me to understand this - Why is it blacks ALWAYS use the word or pronounce the word "ask".......as "ax"? Here's another one - Why do blacks pronounce the word "police" as "PO-leece"...rather than "puh-leece"? Help me out here. I've asked this question of black people (in sincerity by the way) HUNDREDS of times...and I've NEVER got a response..... As a fellow grammarian.....I am asking this question...

[@poshy6534]

@@dancalmpeaceful3903 not sure. Even here in Saint Lucia 🇱🇨 this occurs. Here “ax” tends to be slang or how little ones pronounce words. We speak generally differently here than in the USA. We follow the British more. So the police pronunciation I can’t explain. There are differences here with this word as well.

[@fancykatya]

There are two factors missing, that ought to have been included-buying cheaper goods to think you have saved money. It makes sense to buy a quality item that lasts longer than keep buying cheap goods.This applies to clothing and shoes especially. Also, its okay to go out to dinner, have a coffee out occasionally but when you do it frequently you are throwing away money, absolutely! Especially with everywhere you go expecting a tip anymore. So, its best to think carefully about purchases before you make them~

[@brianandrews7099]

That’s not always true anymore! So many products that were of high quality in the past are just resting on their reputation now and are no better or even worse than a cheaper brand. They no longer have more quality or durability, just more “bells and whistles”. Also, can you argue that a Lexus has superior dependability to a Toyota? No, it might be that the Lexus has more comfortable, be faster, and have more features than a Toyota, but they both get you where you need to go for a long time … the rest is just showing off!

[@bahijarhafiri]

Achieving success hinges on the specific actions and steps one takes to attain it. Building wealth revolves around cultivating positive habits, such as consistently setting aside money for sound investments. Financial management is a critical subject that many tend to avoid, often leading to future challenges. My hope is that anyone reading this message will find success in life.

[@GhanYt]

Commencing early in your wealth-building journey is undeniably the most effective approach. Prioritizing investments is key. Drawing from my experiences last year, I've realized that early investments have allowed me to create a more secure life this time around.

[@GhanYt]

I've been engaged in stock market investments for over a decade, and it has proven to be a lucrative venture. My portfolio has grown significantly, and I attribute much of this success to stocks and, notably, Jenny Pamogas Canaya* for providing an exceptional avenue for wealth creation.

[@GhanYt]

I've taken a look at your advisor, and she certainly appears to be a reputable professional. I've often been skeptical about advisors, but she exudes confidence. I'm inclined to explore the insights and advice she might have to offer.

[@squirrelcovers6340]

Buy quality, not a brand. Buy needs, not wants. Cook your own food, no eating out. Have an IRA, ROTH, Investments in Index funds & a savings account. No ATM card. Use cash.

[@dancalmpeaceful3903]

Definitely buy quality........

[@sashalawren598]

I agree with everything that you have said. The rich don't do stupid things. Period. They don't show off and throw away their hard earned money as the middle class.

[@shahrulamar5358]

They already rich. At their level money no longer hard to earned. 🤔🤔🤔

[@vegasmitch8209]

Rich people don't Show off?? Where the FK Do u live in a CAVE??!! Most are Always Showing off. Go on Any Site & See these 20-30k Sqft homes & they have maybe 3 Kids.

[@site_is_down]

What really separates the rich and the poor is their mindset - rich people can always find a way to expand their wealth and they always make sure they grow from it, while the poor always expands their spending habit whenever they can or whenever they have the opportunity to do so.

[@sherryobar5750]

"Rich people are planners" Good point!

[@harrisowilliams412]

The rich stay rich by spending like the poor and investing without stopping then the poor stay poor by spending like the rich yet not investing like the rich

[@cutesparkle3228]

As a Single Mother Crypto investments has helped me pay my bills and live happy.

[@Nnadi.]

Yeah.. this is the best time to purchase.

[@peterthomas..]

Despite all of this crash in the trade market, this is still a good time to invest in Crypto.

[@Efren_rigoberto]

@@cutesparkle3228 I'll buy Gold instead.

[@Paschalnnadi]

kidding right? Gold's are good but Crypto is better.

[@jakethompson8737]

All these explain how to save money and not how to make money. I for one is not guilty of about 10 out of the 11 and yet, I am by no means rich. So the real practical question is HOW DO I GET RICH?

[@thepotter867]

Practical approach; Spend only on necessities, Try to invest what you can and spread them locally and internationally but of course be well informed about where you want to put your money. Made my first million this way earlier this year (got help though). Reduce things that get you sick (that way, you increase productivity and reduce spending on health)

[@NathanLewis7871]

@@thepotter867 Amazing approach. the health part is apt... What do you mean by you got help? I could definitely use help right now as my finances are in a terrible state... I look forward to your reply...

[@thepotter867]

@@NathanLewis7871 Funny enough, I can honestly relate. By help, I mean I got the services of a pro "Leah Marie Sandock", she was in the news a lot in 2018. You can check her out online for more.

[@vargaskenneth8837]

@@thepotter867 wow I know this little lady. Once attended a fundraiser she was also in attendance in Vancouver,, Great speaker with a funny accent,, She's American though, I doubt she works with foreigners,,,

[@NathanLewis7871]

@@thepotter867 Thank you...

[@thomasaquinas2600]

Loved the presentation, and the fact I follow almost all the suggestions. Sure, many millionaires have lavish lifestyles, normally so-called 'nouveau-riche' who end up poor at the end of the day. If you earn and save, you have to end up on top. My only concern is that there are a lot of young families who have to use credit and struggle to get by. They aren't lavish or foolish but merely have a cash crunch.

[@kaunas88]

The New Rich often spend like crazy...but the Old Wealthy tend to spend their money wisely and not waste it on silly things.

[@parkerbohnn]

I've seen my sister blow through more than 5 million dollars a day on clothes and shoes she doesn't even need. My first cousin is just a hair short of billionaire status and she spends nothing.

[@crossfire7474]

Pressure by friends or society to "keep up" is real. Most people don't understand we all have different lives.

[@dancalmpeaceful3903]

A person whi encourages you to spend your money and "keep up".....isn't a friend and odds are they are IN debt.

[@andreachilton6037]

Surround yourself with like-minded individuals who will help you achieve your goals by setting good examples for you to follow.

[@djizzah]

Lottery ticket once a week is harmless, I'm reasonably well off and do it although no luck yet!!

[@michaelmcinnis911]

And yet one more (actually three things): 1) finish high school; 2) get married and STAY married; and 3) don't have children out of wedlock! If you don't graduate from high school, make babies without a spouse, and/or get divorced, you're guaranteed to be poor!

[@dancalmpeaceful3903]

Yup....one more.....Buy Trojan.....quite reliable.... Divorce is financially devastating....

[@bevfromnc6607]

Also, you have to keep money coming in. If you don't, your money will dry up. That's why it's called currency like electricity. If your source of money dries up, you are DONE, because expenses don't go away, and what if you have an emergency unless you live off investments.

[@bevfromnc6607]

Michael McInnis, You are SO right. Because even if you are a MILLIONAIRE, you will eventually go broke if you keep having to pay alimony, keep having child support payments, getting drunk and getting DUI'S, and getting into fights, and ending up with huge lawsuits, and not paying your taxes.

[@dancalmpeaceful3903]

@@bevfromnc6607 Sounds like a LOT of washed-up movie stars.....

[@NazriB]

Lies again? Elite XBTO Mortal Kombat PS4

[@FrescoIValue]

Thank you for the knowledge Practical Wisdom. Appreciate the work you are putting in to educate the world.

[@renegade382]

As long as you pay it off within 30 days a lot of credit cards will double your warranty and give you cash back. A lot them also offer a 30 day price Guarantee. If you find it cheaper they will give you the difference.

[@broark88]

The tax differences are accounted for by the different ways high net worth people get their incomes. For instance, investment returns are taxed differently than regular income, and losses or business expenses can offset part of the taxed income. Wage or salary earners however are subject to both payroll tax and personal income tax in full.

[@ronblack7870]

as are people who own S-corp pay a lot of taxes. it's a myth that the rich don't pay taxes. it's the rich that pay almost all the net taxes. and net worth and income are different things.

[@fleurelise997]

Excellent advice, really practical wisdom here. Just one thing - I would love to know Gates' or Buffet's credit score. Are you sure that the really wealthy need to have a credit score?

[@juliek.2400]

My work place one time collected money from co-workers to buy lottery together. I learned of lottery chances - even if a small win - in a Statistics class in college, so I never buy them. I was just surprised how the organizer engaged everybody in such an activity. I didn't participate, and who knows if they are still doing it now (just without asking me, lol!)

[@henrynoble7011]

Most people venture into crypto to be a millionaire, meanwhile, I just want to be debt free

[@kelvinmcdonald5113]

That's very practical and smart goal, a wise man once said do everything you can to get outta debt, one of his tips to getting rich

[@stevewilliams760]

Fx/BTC is the best lnvestment anyone can get into. As it could make you rich in a blink of an eye

[@josephfrys6969]

lnvesting in bitcoin(BTC)) is a good idea, a good tradinq system would put you through many days of success.

[@greggeorge6711]

When you invest in crypto you are buying a day you don't need to work.

[@andyobiorah4779]

You can trade/invest in crypto while you do your normal job.

[@michaelmcinnis911]

One more to add to the list: new car purchases. Sure, the rich can afford a new car, but if/when they purchase one, they don't go into debt to do it, because it's part of a realistic budget - they saved for it and paid cash - and therefore got a better deal (BTW, I'm from Omaha - and Warren Buffet tends to drive an older car like a Ford Crown Vic or Mercury Marquis!). Too many Americans are convinced they need a new car (with the new car warranty), and the minute they drive it off the lot, it depreciates by about 20% - and they probably financed 90-100% of the price of the car, so now they're already upside down in a car loan.

[@bebin73]

Buying through a co totally changes this scenario. It also makes more sense to finance and use the banks money. If you buy a $100k car why not put down 10% and keep the $90k to invest and make more money? It makes zero sense to be out $100k cash. If you have a 3% loan and make 10% or more With your money how does paying cash make sense? Interest is deductible and with other writeoffs it’s free money.

[@bevfromnc6607]

I'm sure Buffet has a luxury car, but why would he get rid of his older model when it's still in good condition and paid for?

[@bebin73]

@@bevfromnc6607 tax benefits plus you always have a new car

[@michaelmcinnis911]

@@bevfromnc6607 Buffet has also lived in the same modest home in Omaha since the 1950's - he has only recently put it up for sale. He doesn't live a lavish lifestyle - he doesn't have to try to prove anything! He also owns/owned a home in California, but - as a billionaire - yeah, he can afford it. And as to the car issue; nope; he just drives what he drives. I don't think he's hiding any luxury cars from anyone.

[@millionairemind724]

*Remember that your real wealth can be measured not by what you have, but by what you are*

[@fra93ilgrande]

I'm feeling rich right now 💪🏻😎🔝

[@denniscosban6145]

@@fra93ilgrande Me 2💪👊✌️

[@lvl.99socialdistancewarrio67]

"Rich people are literally obsessed with healthy eating." Also - Warren Buffet has McDonald's for breakfast everyday. Granted $3.17 for a McDonald's breakfast isn't that much of a detriment to your health if the rest of your day is in order but I just found that funny.

[@chuckinhouston9952]

I know many wealthy people. They eat what everyone else eats.

[@gibblespascack1418]

@@chuckinhouston9952 Yes they do eat the same food as everyone else. And it was probably cooked at home.

[@bebin73]

Have no clue where that info comes from. I’ve never read Buffett eats McDonald’s

[@gibblespascack1418]

@@bebin73 Yes, buffet has mentioned it during interviews. The McDonalds is on his way to work. It is also not very expensive.

[@ianhosier4042]

Funnier that bill gates wears a ten dollar watch

[@lb1984]

Shopping. The hubs does the grocery shopping because he can shop off of a list and not get distracted. If it's not on the list, it's an impulse purchase and in his mind that's a no go. The list sits on the counter all week available for anyone in the house to add to it. Once he is at the store though? If it's not on the list, it's not happening. He saves a lot of money doing this. We also eat all of our meals at home. We aren't rich, but we aren't worried about paying our bills either. It's a comfortable life.

[@guitarsandcheesecake1632]

Excellent video. I stopped the lottery months ago euro millions, lotto and postcode lottery was about £25 a month. I now put the money in digital gold. I've got almost £300. It's there for the long term......

[@littleredrose6254]

Well done.

[@guitarsandcheesecake1632]

@@littleredrose6254 thanks

[@justinstano]

Video games and TV are a great way to unwind from a stressful job and keep your stress down (in moderation). Households with higher income are also going to be correlated with older age so of course they don’t play video games like the younger generations.

[@deanc2000]

When I'm tempted to spend I always remember the saying, "Pound wise, penny foolish". You can have some fun and spend your pennies foolishly, like perhaps an expensive meal once in awhile, but the big things you should always do, like saving a big chunk of your earnings each month. AND DON'T GET INTO DRUGS OR GAMBLING!

[@Renebaranwal25]

Thankyou for always giving right appropriate information ✨

[@davidhoulden5791]

While I am not generally a buyer of warrantees. If you are buying a new fridge these days, get the warrantee. They all break down these days.

[@shawnn6926]

My time is money but other people want to waste it because they're taking 10 mins trying to pick out which scratch tickets to buy while I'm waiting in line behind them.

[@pensacola321]

Two, $2.00 tickets a week is $4.00 per week or $208.00 a year..

[@dancalmpeaceful3903]

Real life word problems: If Latisha makes 2 unwed babies a year for 2 years, how much more monthly money can she get from welfare? If DeShawn can get his prison tattoo from Juan for 5 packs of cigarettes, but he can get it cheaper from Jose for only 4 cigarette packs, what would his cost be if he can trade for 5 copies of Playboy and willingly perform a sexual favor? Let me know if you need more......

[@steveziminsky583]

I was thinking the same thing. Big lottery math mistake there. OOPSIE.

[@edlibey8177]

This is covered by some other rules in the video but, don’t buy a fancy car (or huge pick up truck), don’t get an expensive high interest loan to pay for fancy car, don’t trade expensive car in on fancy new model. Get a plain reliable auto, take good care of it, make it last. Take money you would have spent on car payments, pay off any other debts like your mortgage or invest in long term assets.

[@iashakezula]

Funny. I pretty much do most of these things. I have to get some app fees in check though and Amazon purchases. One I couldn’t understand how a lot of my co worker must have the new iPhone. Im about to retire so I have to keep myself healthy and save more.We are already investing stuff . I am just your middle class with lesser debt. Growing up , I have observed how my family fell financially , lost everything and how our oldest sibling repeated the same mistake my father did. My older brother and I are the stingiest and save the most and now extended family and family come running to us for help even to the point of manipulating me to help.

[@abhinavdeepsinha3036]

How does extended family know you got money? Shouldnt tell anybody

[@juliek.2400]

Thank you for such a great video! Do you have any thoughts on store-specific credit cards? They seem to offer great discounts once in a while, but I'm not sure what the catch is behind those credit cards (I mean, if we make all the payments on time). Is it smart to get one for each store we shop frequently? Thank you!

[@sblijheid]

The limits tend to be too low and will cause you a high utilization ratio. That will reduce your score.

[@michaelmcinnis911]

Store-specific credit cards - on average - lead to more spending in those stores by card holders, and the big retailers (JC Penney, Target, others) know this. They offer these cards because they lead to more store traffic and more sales. Credit purchases - again, on average - lead to higher spending that cash purchases, because there's less pain involved in swiping a card than in handing over hard-earned cash.

[@pmscalisi]

Do you really need a credit card?

[@edennis8578]

Store cards have enormous interest rates. If you don't pay it off, the interest rate is equal to what the rate of a normal credit card is if you miss several payments. Why would you do that? That's a rhetorical question; I don't really want to know.

[@michaelmcinnis911]

@@pmscalisi Exactly. I used my bank debit card for everything with no problem. Credit cards lead to higher spending - even if you use the rationalization that you pay them off every month. Credit scores are a sham and a scam - you don't need a credit score - unless you really like borrowing money (and running up credit cards!).

[@fernandoantonio547]

Wealth is created by proper investment, I've been an investor an I can tell it changed my life for better. From what I've witnessed it all comes down to having a good financial expert to handle your investment

[@krishnaviraan9761]

The stock market remains one of the most promising areas to put your money;if you can control your risk, you may use the stock market to safeguard your financial situation while also earning money.

[@jason-li7ft]

Reading about people grabbing multi-figures monthly as incomes in investments even in this crazy days in the market , any pointer any pointers on how to make substantial progress in earning ? would appreciate.

[@projectfinance5697]

@@jason-li7ft I recommend Dr Thomas Alex

[@projectfinance5697]

His telegram handle 👇👇👇

[@projectfinance5697]

At Trademarksss

[@paulfrischknecht3999]

What formula was used to arrive at 28055 for 416 with 5% return in 30 years? I only get these two numbers (Mathematica/WolframLanguage): In[5]:= Sum[416*1.05^i, {i, 1, 30}] Out[5]= 29020.5 In[6]:= Sum[416*1.05^i, {i, 0, 29}] Out[6]= 27638.6 But in any case, it's impressive compared to just saving that money which gives 416*30 = Sum[416, {i, 1, 30}] = 12480

[@lavoisier2815]

The bottom line is they do the opposite of what the average Person Does. I can relate to that.

[@normanocampo4466]

When ALL my income comes at the END of the month there are so MANY distractions, your wife and child will ASK some money for rewards and treats, it is sometimes HARD to say NO, but it is a MUST for the man of the family to be a GOOD provider. Just always PRIORITIZE our spending, AVOID gambling, drinking, excessive online shopping and the worse is WOMANIZING, which will REALLY break your financing. Lucky for me, I am STILL able to save substantially for my investments, GOD is always GOOD to me.

[@byloyuripka9624]

the way you phrased this it is clear you drink, gamble, and womanize while STILL being able to save for those investments. good for you

[@normanocampo4466]

@@byloyuripka9624 READ carefully, there is a word AVOID, I think you need a reading glasses, I am NOT doing it.

[@bevfromnc6607]

@@byloyuripka9624 lol

[@shahrulamar5358]

@@normanocampo4466 😂😂😂

[@iloveisrael2943]

sir pwedi ka namn mang babae pero yung mga bata pa na hindi mukhang pera may cheap namn na babae pero the best at sulit need mo lang mag panggap like a promising person

[@jsivco3sivco785]

1 - Lottery tickets. The narrator didn't factor in that tickets sometimes do have a small payoff, maybe just a few dollars here and there, but it's usually not a full $416 loss per year!

[@JamesBond-sr7fw]

I do all these things already, have 2 degrees and I’m still not rich.

[@mattkarres3321]

Keep at it. Success will come.

[@theRetainer]

If you're rich, you won't need to borrow any money and thus won't need a credit score. You could just pay cash for whatever you want to buy.

[@pmb6667]

Sure, BUT... IF they kept paying cash, it would shrink and there would be less of it. The goal is to keep as much of it as possible and multiply it. Think about it... *Rich people get richer also BY borrowing, using credit as LEVERAGE.* Having excellent credit gets them very low interest rates to take advantage of, so it makes sense to borrow and *KEEP their existing cash in their interest-bearing accounts, stocks, and other appreciating assets.* They get a higher return keeping their cash in those accounts growing, while borrowing at lower rates. IF they can borrow at an excellent 2-3% interest rate, while their cash remains getting higher returns than that (5, 6, 7% +...), it's a no-brainer to borrow. Besides, with inflation (money being worth less in future), you'd be paying back even LESS than you borrowed, so even better. *Poor people spend down all their cash, RICH people borrow and save/MULTIPLY their own cash.* Us non-rich folks can do the same thing they do (just in smaller amounts since we're not rich). Use the same playbook they do!

[@BasementEngineer]

The decision to pay cash is not always the most prudent. My personal example: My second wife and I (I was widowed) decided to buy a new to us house. Did we need it? No, but it is a more harmonious marriage if the house you live in was chosen by the two of you together. I digress. This new to us house has a substantial mortgage on it, even though we could have paid for it in cash. Why did we do this??? Because my investment portfolio was paying about 7% per annum, whereas the mortgage rate of interest was only 2.45% per annum. Thus the decision was easy.

[@LonelyNEBoy]

I do think poor people suffer from FOMO...i.e. Fear of Missing Out. There was this friend who'll always insists me on buying the latest iPhone, Apple MacBook, checking out all latest cafés in towns, taking Starbucks coffee like almost daily when I said very clearly I don't need any of those honestly. Then I realized later people like them are always broke and complaining halfway through the month let alone saving or investing. Im glad I've avoided most of these financially toxic friends

[@ariefraiser140]

Some of the assumptions made about lower income household need a deeper dive. For example TV and video games. lower income people have very limited money for entertainment and tv and video games are a cheaper form of entertainment than the type higher incomes partake in such as international vacations, dining out and movies etc.

[@remcogossink6711]

Thank you for this advice

[@financeabcs]

New to your channel!! Nice video!! 👏👏👏

[@yvonnecamacho9773]

Amen and thank you! I know a few “rich” people who can use your advice to stop crying over money all the time. Makes me wonder if their brains fell out with their stocks.

[@sblijheid]

It's the scrooge syndrome. Always get more money and never lose any.

[@randomsh-t917]

I play the lottery and I have a 8 figure NetWorth. $5 or $10 to chase a dream won't hurt, just don't go overboard. I make and lose tens of thousands a day in the stock market. That $5 to $10 is nothing.

[@acajudi100]

I do not carry a puse or cash, for I stay home. I do have 6 months food and rent money. The money is to pay my rent, when debit card is down. I moved at 79 to a less expensive and safer country, where there is plenty food etc. I use online shopping for groceries etc. for home delivery..

[@johnnyboyvan]

The rich end up in Graves and forgotten. I love watching videos on finding old Graves. All are forgotten. I am well off and single.

[@bevfromnc6607]

I don't think the wealthy are forgotten. They have families who love them and people still watch reruns of their favorite famous movie stars and listen to old school music.

[@johnnyboyvan]

@@bevfromnc6607 These videos prove within a few generations most of us, whether rich or poor, are forgotten. Tis a fact we can briefly escape.

[@dawnt5587]

People with money don’t get car loans or pay credit card interest.

[@dancalmpeaceful3903]

I learned LONG AGO....NEVER get car loans.....and NEVER lease....ever.

[@TheForexApostle]

That explains why they are rich, good explanation.

[@florianeesteron6046]

The reason why they're wealthy is because they are wise and practical when it comes to money.

[@Mattius08]

I consider myself rich and I can relate to everything on this video. Except video games, I play them all the time. I tell everyone who buys lottery tickets the money you spent could have been invested!

[@aerialkreiner2590]

Don’t forget that the lottery is a voluntary tax.

[@ashiaonheragame]

Thank you Practical Wisdom ✨😌❣️

[@mattanderson6672]

Thank you

[@solebrity4094]

Very informative

[@tomsassurance]

High-Income Taxpayers Paid the Majority of Federal Income Taxes. In 2020, the bottom half of taxpayers earned 10.2 percent of total AGI and paid 2.3 percent of all federal individual income taxes. The top 1 percent earned 22.2 percent of total AGI and paid 42.3 percent of all federal income taxes.

[@henryclinton9317]

The wisest thing that should be on every wise individual's list is to invest in different stream of income and don't depend on the government to bring in money especially now the pandemic is hitting the economy

[@wilsonjudson1650]

you are definitely right , waiting on the government is a big waste

[@henryclinton9317]

Investments are the stepping Stones to success especially if you been guided by a professional

[@fredrickconte6270]

Investing is good but investing in the right thing is the actual key to success . who is your pro ?

[@henryclinton9317]

That was exactly what I did, I trade with a professional stock expert "TERESA JENSEN WHITE " who i met in one of the seminars..

[@henryclinton9317]

There are so many investment out there but if profits must be considered then not all investments are good to go into.

[@josebloomberg673]

Don't sleep on it...this is a time to invest I recently just bought another property valued at over $10m. I wish I knew the right investment firm to invest with earlier, better late than never thought.*

[@doggieparadise0511]

1:42 Penn state @ state college PA

[@scottroberts7463]

Yea I know many rich people and yes they all have jumbo TVs and video games. The reason that they spend less time watching or playing with them is they have more options. Do we go to the new hot restaurant? show? travel to our second home? The TV and video games offer quite a bit of entertainment for the cost and that is why they are enjoyed if you have less loot. And yes you could be making more money if you want to work during the time you spend watching TV or gaming but then thats all you would do.

[@parkerbohnn]

Rich people like myself never buy insurance of any type unless its mandatory. In the long-run you always lose big with insurance.

[@gilldavidmour4199]

7:37 contradicts 3:06 Help me here.

[@shelteredsparrow2736]

Yeah I am doing them all

[@ecuador9911]

Yes, the rich keep track of where their money goes so they can identify in retrospect what expenses can be pared back and spend time deciding where the money they do have can work the hardest. Some of the time spent on the couch watching TV could be spent on keeping track of and critically analyzing the cash flow. I worked with one guy for months trying to get him to quantify the timing and amount of his income and expenses. I worked up a monthly cash flow of estimates. All he had to do is change the estimates to actuals. He just wouldn’t do this even for a while. I don’t know if he didn’t care or didn’t really want to know because he wanted a painless solution.

[@MrHeather213h]

Video says the Warren Buffet eats at McDonald’s every day only to later say how rich people don’t eat fast food often. 😂

[@pensacola321]

Warren does seem to be an exception..☺

[@davidmagen415]

At 90 years of age he can eat what ever he wants

[@rajbeekie7124]

You are missing the point. Warren Buffet only spends $3. The average person spends closer to $10. This is $10. most can't afford.

[@davidmagen415]

@@rajbeekie7124 I was surprised to hear that close to 50o/o of people earn under 20.00 per hour. Gonna gave yo fo done fancy financing to be able to afford an apt or a house and it’s not getting getter. Back in the early 80 s mortagages were 18-20 o/o. Now that was nuts

[@davidmagen415]

What someone says and what they do are 2 different things

[@CheckThisOut77]

Do NOT carry a balance on a CC.

[@anthonysanchez7538]

Lol, I'm doing pretty well. Saving and investing quite a bit. I find ways to get gaming on the cheap! Not just older ones, either. So yeah, gaming is for everyone.

[@appolinelisekibibi8465]

How you can Save money fast if you don't have income work?

[@stereomaster4231]

How to make it rich: Shoot stock footage of people doing mundane everyday tasks and sell it to online gurus or KZbin channels claiming to have the secret to get rich

[@bevfromnc6607]

Blue BMW, YUP!!

[@Stevesguitartraveling777]

It amazes me to how many people I meet that will sit around and watch TV and play video games a third of their time. Every time people complain to me about how they’re poor or say I don’t have time for this and that or say to me weekends are all I have time for the things I need to do. I will tell them “well sitting around and watching TV ain’t gonna help you at all. Take all the time that you sit there and spend doing that. Wouldn’t that be like a good chunk of time? Wouldn’t you have time to get your chores and responsibilities taken care of outside of the weekends? Wouldn’t you have time to go out and get the things you need outside of the busy rush hours? Wouldn’t you have time to figure out what your skills and passions are and read a book? Rich people don’t watch TV that’s a third of your life.

[@djtigon]

Tell me more about Astoshan the grey!!

[@stephenchirwa2108]

I do totally agree because Rich people in real life that doesn't usually show off there worthy hence the seem simple but tuff in action

[@jsivco3sivco785]

9:10 - Warren Buffet still lives in the house that he bought in 1958 for $31,500. In other words, he lives in a big expensive house! He paid the equivalent of $325,000 in today's money!

[@EastCoastReefer]

Where the heck are you from? $325K condos don’t even exist in my area.

[@choonguanquek4180]

I often buy lottery tickets. Though there is only a small chance of probability that you will hit the prize. However, I believe, no venture no gain. There is always a winner. By the way , if you keep your stake small, it's not going to matter too much or cost you any financial strain. I will keep betting despite your kind advice. Other than that, most of what you have discussed, make sense. Thank you Sir. 🐶🦍😌🦉

[@michaelmcinnis911]

You should know, then, that almost every person who wins millions in a lottery, is poor again within a year!

[@hondasrdbest9614]

I concur. All it takes is 1 lucky ticket.

[@1233-h1]

True. A very small bet is okay if the pot is large enough. No investment is a guarantee either and the stock market gurus DONT tell you that most people lose in the stock market too. I play lotto very sparingly and with a detached attitude. I dont go to casinos though as I dont care for thr environment.

[@bevfromnc6607]

People think rich people waste money, but they don't. They pay their bills on time because they know late charges add up and that's money they could save or invest.

[@rillawhat8142]

Great information!!

[@bevfromnc6607]

You best better believe Warren Buffet eats an expensive dinner, and when he dines out with friends over a business deal, I guarantee you that meal isn't cheap!

[@gawging]

When Warren dines, it’s a Tax Write Off. 😂😂😂

[@dancalmpeaceful3903]

With laptops...I'd recommend buying an extended warranty. It's paid OFF twice....

[@olliehopnoodle4628]

I am curious about the last segment. "About 25% of the richest Americans pay little to no income tax". Where does this stat come from? If you are 'rich' you may not 'work' and therefore don't have an 'income' tax, you most likely have a capital gains tax. Otherwise it's a good video with lots of great advice for people who want to become financially free.

[@crybebebunny]

To your 1st comment, they don't always know where their money is going. I did work for a Doctor who lived on the Rodeo Dr, in BH. He had cheap linings/bedding. He also donated more than 50% of his earnings.

[@themanifestorsmind]

Had a client who completely furnished a million dollar house from Goodwill.

[@lot2196]

If it floats or flies rent don't buy.

[@dancalmpeaceful3903]

Better yet - find a stupid friend who owes either and pay them gas money. The 2nd best day of owning a boat - the day you sell it.

[@derrickricketts7843]

Great video

[@marcielynn4886]

Don't buy things you don't need and can't afford.

[@MidnightMoonProductions]

Thankful for my future self who will be a millionaire and making over it before 23 or by.

[@sandy1128]

Credit Unions do not charge fees.

[@kaninma7237]

I immigrated to my ancestral homelands in Central Europe, and credit reports mean nothing here. Nobody will ever ask for one.

[@ytSuns26]

IMO average people enjoy passing away money,they enjoy it. I buy tranquility, peace with my money, I have no interest in impressing people nor do I want power over people. I use my money to stay under the radar and private. Spending money on stupid stuff feels good when you are a wage slave

[@bluegillmich]

Warren Buffett must pay for the senior coffee..My dad used to ask for that. Edit: Walmart tried to sell me a $4 warranty on a $30 lawn chair LOL..Nope

[@dancalmpeaceful3903]

Find a tree stump......free

[@douglasthompson9482]

All truths....haven't bought a lottery ticket in decades.

[@george_micough]

Thrift is a virtue, investment is a good habit

[@jdee2095]

Impulse spending and large amounts of leisure

[@Woke365]

Lottery made many people millionaires. Many people won hundred of thousands of dollars each year on the lottery.

[@BasementEngineer]

Define "many".

[@1792dt]

Whatever the least dangerous breakfast item at mcd is is prolly what buffett eats the most lol

[@georgegouvescrete3737]

You say how to save money but not how to make money. And this is the hard to learn.

[@martaz2252]

Nr. 3 Warren Buffet is eating in McDonald Nr. 8 No Millionaire is eating fast food junk, yeah, video needs content regardless