It takes money to make money. If you had 100k you could grow generational wealth in the stock market vs Joe shmo throwing 100 bucks in here and there. Just by investing in an ETF. With money you can open your own businesses, invest in private companies, etc. Don't listen to this guy. He doesn't know what he's talking about.
@GarrettGundersonTV Value creation. Let's focus on that. If you wanted to action on an idea and start your own business to bring that to fruition you would need... oh yeah. Money. If you saw an idea that you believed in and wanted to invest, you'd need money. This whole "pull yourself up from your bootstraps" mentality is what has led to such inequality. Calling a fact a lie is delusional. You may actually believe what you are saying, and that's fine. But this is just snake oil. If you wanted to start a business, you'd have to pour yourself into it. Invest time. You can't really work your 9 to 5 and start a business from the ground up. Money for rent or your mortgage has to come from somewhere so your basic needs can be met while you take a risk to launch a new business. If you break down each piece and dig in past the surface. Literally, everything in your video gets debunked. If you drill in even further, the majority of Americans can't afford an emergency 500 dollar bill. Yet we subsidize large companies like Walmart with programs like food stamps that all of their entry-level employees qualify for because they get paid so little. Instead of making them pay livable wages. Where people can save money. Then, create value. Or fix our housing crisis. So over 50% of people's wages aren't eaten up by housing before adding utilities and food. So people can save money and create value. Your points only make sense for folks that are well off. The folks that already have a nest egg they are sitting on. This applies only to folks who have enough money to make money. Because they have more options available to them simply by not being worried about finances. I hope you have a great day. And I hope you consider the opposition to your video. The best financial advice to give anyone is truly save as much as you can and do it young. Compounding interest is your friend.
I just started a business. It was funded by the very people who wanted to join the program. I built the resources and hired the people to build them from the money coming from the people I created value for. Have you never heard of crowdsourcing? Thinking you have to have money to invest to build wealth is a chicken and the egg scenario. Dollars are a byproduct of value. If someone simply scrimps to save and then invests, there is no guarantee of return on investments. So even the 100k example may not work. Where did that money come from. Where is it invested? His is risk mitigated. I started my first business at 15 with things laying around the house by cleaning cars. I started my next business at age 20 and didn't have money but made money by providing a service. Oh and at 19, I bought a home with a champ loan, requiring no money down. So the thought of you don't have money, you can't make money destroys resourcefulness. And how do you make money with your money...that requires skill. How do people start from nothing and grow to be worth millions and more if they didn't start with money? Maybe they lived below their means initially but sought to expand their means. I don't want to subsidize wal mart.
How am I saying not to save money? I'm saying it doesn't take money to make money, sure you can make money on your money, but it takes relationships and ideas, value and exchange to make money. I'm a huge advocate for having liquidity. To have a lease of mind fund. To have cash available for staying power and opportunities. I think 3 months is far too little. How would you make money to save it...value. How is wealth created....exchange. My advice, don't be a victim of what corporations do or don't do and page your own path. You can defend your position to try and be right, or increase the value you create substantially and get rich.
