5 Things Wealthy People Do with Their Money (That Most People Don’t)

If you want to grow your wealth you need to follow financial strategies that wealthy people use!
What are the top things wealthy people do with their money and how
to implement them in your financial plan?
What should you avoid when trying to build wealth?
In today’s video, you’ll learn the best tips to build wealth over time (and what to AVOID) and how to implement them in your financial plan:
Learn the tips & strategies to get the most life out of your money.
Timestamps:
0:00 - How to Grow Wealth
2:30 - What Are Your Goals
7:46 - How To Own The Best Stocks For Passive Income
11:14 - How To Grow Your Wealth (Don't React)
13:18 - Working With Us
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Other videos we think you'll like:
Why I Started Root Financial Partners // • Why I Started the Read...
How Would You Feel If You Knew You Could Retire Today? // • Why I Started the Read...
What Makes Our Approach Different? // • Why I Started the Read...

[@kotamrajuprasad2742]

He is young but has a deep understanding of the things.

[@cashflow68]

I started investing in stocks in the 1980's with basically nothing. Now, I financially free at 59. My annual income throughout my years averaged 40k year. It can be done.

[@UNDERDOG18UNDERDOG18]

Absolutely, 52 yr old millionaire, ave wages. Started saving for retirement in college.

[@Paul-GrnHil]

I recently retired comfortably at age 64 1/2. While working, I started saving for my kids college before they entered kindergarten, I financed my home with a 15 year mortgage and paid cash for my cars that I kept for 9 years. As a result, I maintained a reasonable lifestyle, and retired debt free with adequate savings. The only “jones” i kept up with was myself. Those who live for today are sacrificing tomorrow.

[@RootFP]

Good perspective

[@onlywenilaugh6589]

If you make it to tomorrow:) You never know so need balance which sounds like you had.

[@Woodland26]

one of my car is now 16 years old :) Kept it for my children to drive in their high school and university years. Now is my hobby to keep it running well.

[@spinnetti]

Same here, though not retired. Nothing else I need to be doing, and my job isn't stressful so I'll keep going until its no longer interesting.

[@pensacola321]

We retired 15 years ago when I was 57. We worked, took care of the family, saved and sacrificed to get there. Today we have plenty money, can spend as we wish and help others.... For the five mentioned points, yes, yes, yes, maybe and definitely. And don't worry so much if you miss one, once in a while. Just get back on track and move forward..... You have a good message.

[@RootFP]

Thank you

[@johngill2853]

Great advice

[@carlsawicki8197]

Another great session James. Thanks for the advice!

[@RootFP]

Thank you!

[@mariviberrios]

Excellent video! Well done!😁🇵🇷

[@spinnetti]

you can boil it down to basic psychology - Delayed gratification. Pay yourself first instead of short term gratification to buy that next widget or keeping up with your friends and neighbors.

[@donnaallgaier-lamberti3933]

Worked hard, budgeted, saved and saved and spent money very prudently and divested between the financial markets, buying farmland and buying property. Then when they had some money saved, they buy rental income or invested in additional property that brings in an ongoing income stream.

[@timsans1170]

Who's "They"??

[@helgashighway1869]

I'm very good at being ok at everything

[@jonathanwinston9958]

Folks need to listen to this guy

[@HumarAndArt8800]

The best thing I did was to make sure I got stock in the company that I worked at that I was adding value to the company.

[@luzcamacho2050]

One of my goal to retirement is to pay off our mortgage. While investing $1,000 a month into retirement.

[@luzcamacho2050]

My husband and I are in a five year plan and currently have $850k in our 502k through our employers.

[@timsans1170]

​@@luzcamacho2050502k?

[@MICEVVV]

Everybody recommends investing in stocks, but, I am always afraid of a lost decade or two or three like in the Japanese stock market. I am still frying my brain to figure out how to invest in that kind of market...

[@marys8801]

It helped me to look at the graphs for the last 100 years for the S&P. It has done much better than the Japanese stock market. 85% of the managed mutual funds earn less than the S&P over a 10 year period. So I am very happy with the S&P 500 fund.

[@timsans1170]

Fear keeps you poor

[@serialmigrant]

Well, How I see it... If you put your money under your mattress,you have a guaranteed loss equivalent to inflation. That's the point of diversifications.

[@Woodland26]

One of my high school friend's dad left him a portfolio of stocks. His dad bought bank shares whenever he had spare cash during his working life. Now my friend on average gets around $150k (converted to USD) per month. He seems to learn from his father and still works as a professional, and never show extravagance in his daily life.

[@danaabadal1707]

wow!

[@timsans1170]

He has an annual income from an inherited portfolio that generates $1.8 Million dollars/year?! AND Why would he need $1.8 Million annually and NOT live extravagantly??? At a 4% withdrawal rate, that's a $45 Million Portfolio!!

[@Woodland26]

@@timsans1170 his dad took compounding, equity etc to an extreme level. He owns more shares in a bank than most funds. As for why isn't he living it up, well he always has plenty so there aren't much more he could do to feel any more excited. At school he was the book worm and top of the year. Beside shares, he was left with many properties, both commercial and residential.

[@onlywenilaugh6589]

Been putting into my 401k for many years but it's never grown the way people say it will. Still much less that expected even though I and Emp have been putting in at least 8-10K year total for 28 years and even more the last 8 yrs. Maybe it's just not invested correctly but it was 70% stocks for a long time. Not it's 2025 target since I'm close to retirement but only put it there just before pandemic. Seems most of the professional grow rates are over stated.

[@RootFP]

Glad it was helpful!

[@marys8801]

My experience is that the S&P will earn 8% annually, and it has averaged 10% for many of the past decades. The trick is that when it falls 35%, and it will, I have to leave it in. When I was 70% in stocks/ 30% in bonds, my experience was the same as yours. It earned much less than the 8%.

[@timsans1170]

S&P Has an average return of 10%. If you dilute that to 70% of your holdings, well, I think you self-diagnosed your problem.

[@greenteajiang1037]

I have been doing all items from 1-5 except I am very disappointed with my financial adviser. I asked in one of your videos, how to invest and have 6.5% returns? If the financial adviser charges 1% of my total investments, what my net return would be? If you are smarter than most others, would you mind to share with people who watch your videos the expectation of net growth of a two-million portfolio after paying to the financial adviser. This is how I would choose a financial adviser. Thanks.