Rich People Buy Assets

Rich People Buy Assets – This is step 1 – something the rich buy and the poor and middle class don’t!

(This is a YouTube video I made a few years ago with 2.5 million views, but someone recently asked me to put it here. Yes, it’s a summary of other people’s ideas. Like everything else. )

Rich People Buy Assets

The problem is that situations usually don’t change until people’s situations change. This means that the only way to change your situation is to change yourself.

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It only takes 10 minutes to read the information on these few pages, but it has changed my life forever, and if you apply the information, it can do the same for you.

The only difference between what you have and what you want is applied knowledge. It will be book knowledge, but you have to apply it.

There seems to be a big difference between the rich, the poor and the middle class, but if I tell you that there is only one idea that the rich use and the rest don’t, it makes all the difference. ?

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Let me open your eyes and show you what I mean, and you will see why the rich are getting richer, the poor are getting poorer and the middle class is getting squeezed.

I want to make this easy, but to get you started I want to give you a few definitions of four important words.

These two words are for rich, poor, and middle class, but both are words I thought I knew but blew my mind:

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I used to think of an asset as something you own, like a house, car, or something of value. But the wealthy have a different definition of assets, and we’ll work with:

Generally, people refer to their house as an asset, ask an accountant and they will tell you, but if you use these definitions, couldn’t it be a liability?

A home you own but live in is worth your money, so it’s a responsibility. But a house that you rent out to other people and earn money from it is an asset.

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So, I said that there is a simple idea that separates the rich, the poor, and the middle class, and it all depends on what they do with the money when they pay.

They buy shoes and ringtones, Mountain Dew, Chucks, Blu-rays, clothes, TVs and games, and lots of things they find cheap—perhaps at flea markets, garage sales, dollar stores, or Walmart. .

Their houses are full of rubbish, but it’s all “just a form!” was. or “slow stuff”. Their cars are junk, their garages are empty tanks, etc.

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They take their money from their income and spend it through their monthly expenses. Out the door, he quickly entered.

It’s easy to fall into this trap because everywhere we look there are things to buy! It makes the world go round, the problem is that after years of work there is nothing for them because they are all covered.

I was born with this idea, and for a long time I thought that money should be dealt with – spend it! I’ve heard of “savings” but I saved it to buy something bigger.

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It’s not a character flaw, and it’s not a mistake, it just keeps the poor in a terrible cycle from which it’s very difficult to escape.

The only reason someone doesn’t make a fortune is because they don’t know the recipe, don’t want to know the recipe, or never use the recipe.

I’ve never baked cupcakes because I never learned, never had a recipe, and never tried to. It’s not enough to get a recipe, you have to actually cook!

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Some people in the middle class think they are rich because they may have a good job with a good salary.

They can make six figures, but the money they buy puts them in the middle class.

The middle class buys things like big houses, nice cars, vacations, and pays off their debt every month. Each month it’s a new item, but it adds little to your monthly bills or expenses.

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For example, let’s say someone in the middle class earns $15,000. They pay their monthly expenses like a mortgage (or rent a luxury apartment), food and lifestyle with $7,000, but then the car costs less than $7,000 and a few hundred dollars a month.

Then monthly low-cost hours, monthly low-cost vacations, and so on. As long as they are on the credit card, they pay in one installment each month.

After a while, their monthly debt catches up to their monthly income, and then they’re stuck, I hear.

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They continue to buy commitments that cost them money every month and then stick with what they bought to keep them happy.

Now they’re stressed because they have to earn more money for the kids’ school next year or the next vacation or whatever.

The poor and the middle class are trapped because they too are in a situation where the only way to make money is to trade their time.

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Their body or knowledge is sold for the money they make and there are only 24 hours in a day.

Whether you make $10 an hour or $1000 an hour, you still need to trade that hour. The fast food worker still has to deliver food, the dentist still has to see patients.

At this time, the 2nd work begins. It’s a short-term band-aid for a long-term problem, because there are only so many hours in the day.

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Most people who have a job wake up to go to work and pay the bills and become unemployed. Added money is not a solution, it’s just a great way to get stuck.

Many people think that education and training is the solution to every problem, but they are wrong.

After reading this you are encouraged to take action and visit the website for more knowledge and information. I hope you choose to take action and apply what you have learned.

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For example, earning more money is not always the solution. I want you to know that you can make a lot of money but be a poor person because of how you spend it.

It’s not what you do, but how you do it and what you do with it after the ward.

It blew my mind when I heard that, because I didn’t know you could even… buy something that would pay you?

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The rich buy ASSETS. These assets make them money, which they use to buy more money-making assets. ASSETS make them money instead of time.

“Well, it’s something you buy, then hope the price goes up, and then sell it for more money… right?

Instead of buying something that they hope will increase in value over time, the wealthy buy assets that pay off now.

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As I said before, the house you live in is not a house you hope will appreciate in ten years, but a house you rent to people who are paying you monthly now.

If you learn how to do something and can use it to make more money, knowledge can be valuable.

But the rich really make a difference when they buy or build an asset that is a business.

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If you can build a business that pays you long after you stop working on it, you will have a real asset. That’s what the real rich do, and it’s not some multinational corporation.

If there is a vending machine in a busy area, people will buy candy and you will collect money.

Sure, you might pay for candy and someone to restore it, but all you do is take the car, take the money, and then buy another car.

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Warren Buffett did it with old pinball machines… now he’s one of the richest men on the planet.

He started with pinball machines and now buys a big business that pays him every month. Same recipe, different ingredients.

I’m an actor, you’ve seen me on TV now, but back then I was just working to pay the bills.

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I got a job answering phones, pacifying, doing anything for money so I could pay the bills for the duties and things I bought.

Then someone shared these ideas with me and I chose to continue reading.

Now the situation is completely different. I spend my time doing what I want, I’ve been on TV, I’ve written books and I’ve made decisions.

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