*Do you wish finance news wasn't so boring and hard?* 📝 Try our FREE finance/business newsletter HERE: bit.ly/DMarketBriefs *Want to cashflow $100,000 in 12 months?* 💵 Get the playbooks and strategies HERE: bit.ly/cashflowme
Rich Dad Poor Dad is also my favourite finance book and the one that boosted the Super Saiyan genes inside me. The one simple line: 'Buy Assets, Not Liabilities' changed everything about the way I saw money from that point on. I've been accumulating assets ever since. Definitely worth a read!
I just finished reading this book! SO GOOD! He mentioned having financial heroes and I’ve added you to my list!! Your content is always so good! 🙏🏿🙏🏿🙏🏿😭 thank you
Ok, you’ve convinced me to read the book! The part about not working for a pay check is SO TRUE. I work in high profile families and have seen time and again exactly what you describe regarding mental health of affluent children. It’s very important to think about why you want to be wealthy.
Such a great unlock from the book for me was the idea of assets generating your income, not your job. It is a simple concept but one I hadn't really realized before Robert explained it. Escaping the fear that you have of losing a job or not being willing to change jobs out of fear of financial instability is surmountable from passive income!
I love this video Vincent! I’ve always wanted to read that book but never got around to it. Thank you for presenting the main points in your very special, humorous way. I love learning from you. You’re the best!
15:10 - This is the first time I've seen a supply/demand graph in which supply and demand are placed along the same axis. However the graph is drawn, the interpretation should be: - When supply decreases and demand remains constant, price goes up. - When supply increases and demand remains constant, price goes down.
This was legit the first book i ever read, such a phenomenel book! I am 22 years old now and was 21 when i started my journey. Started reading exactly 1 year ago and now i read 2 books a month at least, invest in the stock market and crypto, looking into real estate soon as well. Your channel is so amazing and thank you a lot for the videos you put out!
Hey, I’m 21. What books did you start reading? I’d like to get some more knowledge on the stock market and crypto without binging RU-vid videos. I feel like if I read, it’ll retain a lot better and I’ll be more engaged.
@@timothyjackson2086 1. Your money or your life 2. The millionaire next door 3. Why the rich are getting richer 4. FAKE 5. The richest man in Babylon My current top 5 economy related books, hope it helps
I’m currently about 80% through "Playbook to Millions by Grant Cardone. I have read a lot of entrepreneurial books and self improvement books, and this book is my absolute favorite. This book is extraordinary and really gets you to work extremely hard toward your goals in life and succeed at multiple different areas like career and relationships. This is an absolute must buy if you need a push to get you going in business or you want more out of life.
This book is a background player to me. When I read it, it was a huge turning point but in a more subtle way. With every dollar I earned, I had a mini Kiyosake on my shoulder saying ‘you have a choice here, be poor, middle class or rich’. I love his idea that every dollar earned presents a choice to you and it crushed my feelings of financial hopeless, because I now see this as my choice and in my control, the way Morgan Housel describes as ‘I’ll never be able to afford a house so why save’.
So awesome to see how much your channel has grown! My favorite financial book was reading “Total Money Makeover” by Dave Ramsey back in 2014. Wife and I were about 80k in debt. Fast forward to 2022, and we have ZERO debt of any kind, even our house is paid in full. Crazy how much debt holds people back. I have yet to read “Rich Dad Poor Dad” but it’s on my bucket list.
I think the greatest tragedy is we are made to become dependent on institutions for our survival instead of being taught and encouraged to rely and trust ourselves and our own abilities to survive and be self sufficient. We are made to disconnect from our true potential in order to be passive servants to someone else's needs and dreams...
I need advice! -My primary residence is a condo and I have $100K left to pay - I want to buy a house (not this year) for approx $320k or less. I don't think my salary to debt ratio would qualify me for a mortgage that high, BUT - I have about $300K in investment savings - I want to use my condo as a rental property How should I go about this? Should I pay off my condo 1st? Or should I do a 50% down payment for the home? Or should I keep the $$ and just get another mortgage? Or.....??? Thanks in advance for your advice 🙂
Big fan and this book also changed the way I look at finances. I have a thought for a video about net worth as a percent of income instead of basing it on an age that assumes you are retiring at a typical time what if you where ahead of schedule and wanted to retire early? I realize there is more moving parts for this but I've been trying to figure out where I am at with what I have now. I've seen the inverse curve based on the percent you save but that's a specific example starting from zero. I'm just wondering what your thoughts are, thanks!
Not all financial and not in any particular order but each helped change my perceptions and are often read again for reinforcing good financial ideas and habits over ingrained bad ones. Rich Dad Poor Dad, The Richest Man in Babylon, The Millionaire Next Door, A Framework for Understanding Poverty (revised edition), Outliers (Malcolm Gladwell).
First, thanks for putting all this content together. It's super practical (and relatable for us ex-corporate finance professionals out there). I've always liked this book, but took me several years to realize that this was the philosophy and more skills were required to be developed. Too many finance books to mention, but "Millionaire Next Door" is also a very good, readable book to help people distinguish fact from myth. "Rich Habits: The Daily Success Habits of Wealthy Individuals" does an excellent job bridging that gap. "Richest Man in Babylon" and "The Seven Spiritual Laws of Success: A Practical Guide to the Fulfillment of Your Dreams" are good ones to fine tune one's philosophy and approach. ps - dropped you a LinkedIn request last week, writing in from CH. :)
Have you ever thought about if everyone took wealth this way, there won't be individuals who work hard(poor dad) to make all of this even possible? That would be an interesting scenario to be in.
@@VincentChan 2018. Net worth of about 25k. Now 270k. Still haven’t created my own business but have added numerous revenue streams and focused on adding assets. Three rentals, attacking the stock market, etc.
Rich Dad Poor Dad is a great book to understand how money works as well as what is an asset and liability as well as how to leverage debt. Be careful consuming Robert Kirosakis content though, he can be very miss leading.
Luck also plays a big role in financial success, this has been proven. There are many wealthy people that got that way by dumb luck and there are others who applied all these principles and never became wealthy.
I just want to have enough money to do the things that I love, focus on my health, my boxing, go to the beach, help others lose weight I could care less about a 1000usd steak
I read rich dad poor dad right after reading think song grow rich and the richest man in Babylon and I literally jumpstarted my financial education careers!
Interesting. I love Robert Kiyosaki but he is very much anti stock market, very much against paper assets. He is all about real estate, precious metals, using what he calls "good debt" to generate cash flow.
So many fake Vincent's in the comments. 😂 I read Rich Dad Poor Dad and played the CASHFLOW boardgame. Very good. I don't think Rich Dad himself was ever a real person but its a creative way to teach.
well I dont mind being in a rat race, as long as get paid a right amount of money. Having financial education I'm already preparing for moment I will leave the workforce.
Earing $35,300 every 4 days is still like a shock to me with just $9,100 investment . after passing through a lot of humiliation with my family from my boss. Your trading platform remain the best ever. I will ever remain grateful to Frederick Kurt
Great book but Kiyosaki is a right wing nutjob. Watch any of his current videos and it’s like what? This is the same guy? Proceed with with caution on anything he promotes nowadays.
