How Ignoring This Advice Cost Me $1 Billion in My 30s

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Download the checklist Ken mentioned in the video at this link: kenmcelroy.com/multifamilydue...
Ken McElroy talks about money and how it flows from Main Street to Wall Street and how it cost him billions over his career. He discusses how understanding the cash flow quadrant and the banking system's inner workings can transform your financial outlook, bypassing conventional advice and directly investing in wealth-generating assets.
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ABOUT KEN:
Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABC’s of Property Management, and has an upcoming book: "ABCs of Buying Rental Property: How You Can Achieve Financial Freedom in Five Years." Ken is a Rich Dad Advisor.
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#kenmcelroy #realestate #realestateinvesting #Money #Wealth #FinancialEducation #CashFlowQuadrant #Investing #WallStreet #MainStreet #BankingSystem #Inflation #PersonalFinance #FinancialFreedom #AssetBuilding #RichDad #FinancialSystem #Savings #Debt #Investments #EconomicEmpowerment #WealthManagement #FinancialGrowth #EconomicSystems #FinancialStrategies

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15 июн 2024

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Комментарии : 135

@KenMcElroy 3 месяца назад

If you appreciate the effort we're putting into these videos and want to support the channel, share this with someone you think would benefit! It would really mean a lot. Thank you.

@AdityaMajumdar-vi1kt 3 месяца назад

Bro, the truth is that the banks collect our money and then invests it, then the banks print the money and loan it out, and the us taxpayer pays intrest on the bank's debt

@kobartlett 3 месяца назад

No. You might wanna go read a book on economics. The federal reserve is who Prints money. This is an oversimplification, but you are completely incorrect.@@AdityaMajumdar-vi1kt

@vd.s6158 3 месяца назад

George Gammon would disagree about money circulation you shown on the board.

@stefanesculiviu5230 3 месяца назад

Hi Ken. What do you think will happen with the multifamily market when the gov will let us to depreciate only 20% of the value?.This year we can deduct 80%next year 60%, in 2025 will go down to 40% and the 20% is scheduled for 2026

@user-rd5qh6zx9d 3 месяца назад

What board are you using? Love it.

@Raymondjohn2 10 дней назад

This is quite educational. It's crucial for newcomers to keep in mind that the financial markets are highly irrational in the short run. You should constantly be ready for the unexpected. That is how chance operates. Because of the inherent risks in the market, I always favor long-term investments.

@JacquelinePerrira 10 дней назад

These uncertainties will always be there. Thing is, every once in a while, the market does something so stupid it takes your breath away. If youre not ready for it, you shouldnt be in the market business. or get you a skilled practitioner.

@Jamessmith-12 10 дней назад

That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!

@kevinmarten 10 дней назад

Mind if I ask you to recommend this particular coach you using their service?

@Jamessmith-12 10 дней назад

Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

@kevinmarten 10 дней назад

She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.

@CliveBirse 2 месяца назад

Keep in mind that during the 80’s people were encouraged to save due to the interest rates. Right now there’s very little incentive to save because those who are saving are watching those who are reckless taking it in. I’ve been trying to save for a home and it’s been discouraging to watch prices continue to not budge because there’s people willing to get into a mortgage where they’re paying 40% of their income. It’s insane.

@91ScottieP 2 месяца назад

To balance out your real estate holdings, I suggest investing in equities. If you're cautious, even the worst recessions can present fantastic buying opportunities. Additionally, volatility can produce fantastic short-term purchase and sell opportunities. This is not financial advise, but you should buy immediately away because money isn't king right now!

@mikegarvey17 2 месяца назад

Yes I concur, I've been talking to an advisor for long now, mostly because I lack the knowledge and energy to deal with these ongoing market circumstances. I made more than $420K this year, demonstrating that there are more aspects of the market than the average individual is aware of. Having an investing counselor is now the best line of action, especially for those who are close to retiring.

@mariaguerrero08 2 месяца назад

@@mikegarvey17Mind if I ask you to recommend this particular coach you using their service?

@ThomasChai05 2 месяца назад

Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

@EricEllingwood 18 дней назад

Maybe you should research offgrid building techniques such as earthships by Michael Reynolds. wofatis by Paul Wheaton. Rocket mass heaters again by Paul Wheaton. That could practically keep an uninsulated school bus camper, warm etc et cetera. Can maybe I'm a exaggerating a bit on the last one, but still some food for thought. That's what I'm planning on doing. I could literally live in a shed made out of palettes for a few years. The biggest reason why people stay poor is they're too afraid to be Realistically unreasonable.

@NicholasBall130 2 месяца назад

I’ve been diligently working, saving and contributing towards financial freedom and early retirement, but the economy so far since the pandemic has eaten away most of my portfolio, what I want to know is this: Do I keep contributing to my portfolio in these unstable markets or do I look into alternative sectors.

@StocksWolf752 2 месяца назад

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money or you could hire a financial expert.

@EleanorBaker474 2 месяца назад

Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2020, and I return at least $30k ROI, and this does not include capital gain.

@StacieBMui 2 месяца назад

Would you mind telling me how to contact this specific coach using their service? You seem to have the solution, as opposed to the rest of us.

@EleanorBaker474 2 месяца назад

I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Sonya lee Mitchell turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.

@AaronHansen-iu1df 21 час назад

I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Charlotte Miller.

@SaadmaanShohid 21 час назад

I'm surprised that you just mentioned and recommended Charlotte Miller, I met her at a conference in 2018 and we have been working together ever since.

@AdamKotlicki 21 час назад

She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states

@jadewashington7 21 час назад

I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills

@mikesnoek 21 час назад

I'm new at this, please how can I reach her?

@Piligarcia-zs7bo 21 час назад

The very first time we tried, we invested $1000 and after a week, we received $5500. That really helped us a lot to pay up our bills.

@lyleburlingame2276 3 месяца назад

Ken the LEGEND! Thank you sir

@gdan8599 3 месяца назад

Best information on real estate 🙏

@RealEstateGuy22 3 месяца назад

Clickbait title and shorter videos, someone is finally learning ❤

@playlists9513 3 месяца назад

your the man Ken! Thanks for all the info you give out consistently.

@BibleClassPro-777 3 месяца назад

I subscribed as a way to say ; you are qualified to be on my team . thanks for the advice

@KaayJaay День назад

Preach!! Rich dad. Poor dad

@kkperu6375 3 месяца назад

Mahalo Ken for the words of wisdom!

@allanlynch9008 23 дня назад

Thanks for teaching Ken. You explain things very well in an easy to understand way. 👍🏻

@cameronknight1372 2 месяца назад

Thanks for appearing online. 🙏

@robespierregermain5684 3 месяца назад

Thank you for all you do Mr. Ken

@rcolucci09 3 месяца назад

I hope Ken keeps his integrity high. Everyone else gives a BS teaser and not enough info to act on. Then redirect to a paid course.

@kobartlett 3 месяца назад

That’s because they can’t do it repeatedly. I remember the old saying I heard- those who can, do it. Those who can’t, teach.

@OW16 3 месяца назад

Great video!!!

@Zestfuldoc 25 дней назад

Thanks for the great video ✨

@flaviojr123 3 месяца назад

Amazing video, I'd like to add that it's not just about a middlemen, it's about trust and guarantees. The world is full of scammers. Banks do SOME due diligence to ensure the soundness of these investments.

@sidshri6080 3 месяца назад

Thank you!

@KenMcElroy 3 месяца назад

Download the checklist Ken mentioned in the video at this link: kenmcelroy.com/multifamilyduediligence

@RobotsCanDoAnything 3 месяца назад

Excellent video Ken.

@CREDirect 3 месяца назад

I've been a fan of your insight since I read ABCs of real estate investing. Thnx

@Antonio-os7eh 3 месяца назад

Thank You Sir!✌️

@TareignTV 3 месяца назад

Priceless information

@tonystirp1421 3 месяца назад

Great stuff, Ken! I like the way you simplify the process, so the average businessman or businesswoman can understand easily.

@iamchrisjans 2 месяца назад

I teach this to my kids. Incorporated into their math to create charts based on each type. They are shocked that anyone would want to stay an employee. They're in grades 1 and 4. It's simple stuff if you can bring it into your understanding. Keep doing that to grow your understanding bubble and you'll be unstoppable, especially with direct info from the masters where it used to be you'd have to travel, work for free, a whole lot of work just to apprentice under people like this just to have the opportunity of getting this info.

@annmich7384 3 месяца назад

Thanks Ken 👍

@thegrowthconscious 2 месяца назад

Tnx Ken

@juanjarta 3 месяца назад

Great video Ken

@Eicracombd 3 месяца назад

This type of content is truly excellent as we are enjoying it from India and Bangladesh.

@FreeCryptoClass 2 месяца назад

I also ignored advice that would have made me a millionaire back in 2017. This actually happened to me twice. Now I'm finally more alert than back then, and am on track to becoming a millionaire by the end of 2025.

@Evermorecurious 3 месяца назад

The current population of Main Street no longer has $100,000 in the bank. Their paycheck goes like this 30-40% Rent/Mortgage 10-15% Taxes 20% Medical 20% Transportation 10% Food. There isn’t anything left over to stay in the bank.

@matthewmitchell68 3 месяца назад

This is some sound money ideas! I quit working for the Union once I realized that pension was a joke and annuities were not that great!

@dhowto3005 3 месяца назад

Thank you.

@leadgenjay 3 месяца назад

Ken's insights on the cash flow quadrant are spot on. Entrepreneurs should also consider leveraging credit lines strategically for investments, as they can be a powerful tool when used wisely to amplify growth, especially in real estate. Just remember to balance risk and have a solid exit strategy.

@thyslop1737 3 месяца назад

Real Estate based on the fiat model of currency creation can be summed up in one word. LEVERAGE.

@YouTubeUserToo 3 месяца назад

Agree 100%

@snowmj 3 месяца назад

Thanks

@MikeVloggin 2 месяца назад

Let’s say I want to buy a duplex. What bank can I ask to borrow?

@arashp85 3 месяца назад

I am a new fan!

@DannyC-je1mq 2 месяца назад

Do banks offer FHA for a first time home buyer ?

@no_capchannel585 16 часов назад

That why my mother told me to withdraw my checks and put it in a safe

@ferryhongdaeoppa4978 24 дня назад

Defi is the solution

@9xqspx6 19 дней назад

So this is basically why one would want to leave the banks out of the deal and lend money directly from PML's/regular people. And also why it is more beneficial for these lenders to give their money to a real estate entrepreneur than to banks.

@treadhead450 3 месяца назад

Opportunity cost is a real cost and the biggest cost category for most of us. Lord knows I’ve lost a boat load of money by inaction and/or delayed action. Ken’s vids give me hope that it’s not too late!

@ColdCallSteve 21 день назад

Did you take action ?

@no_capchannel585 16 часов назад

Because every time you put money in the bank as a deposit, it is a liability for the bank because they owe interest

@FirstMrNick 22 дня назад

I'm trying to understand why a Billionaire is wasting their personal time making these videos for youtube, if I get to that point in life it will be the last thing that I do

@user-fn1un9hy4d 3 месяца назад

Great ❤

@ranwittlinguitar Месяц назад

❤

@Mary-cz7qy 3 месяца назад

How?

@patrickkelly4839 3 месяца назад

Where did he get that electronic whiteboard from?

@djooraTech 2 месяца назад

Amazon

@KennTollens 3 месяца назад

Thank you for the breakdown, but how do I get money for the I part? Also, if I get the money, how do I use it in the I part? If it is just buy multi-family houses for rent. I make $16/hr and my credit is not that good. I would love to buy and rent houses. How do I get the money for that? It takes me 4 months to save up $1,000. A $200,000 house would take me 67 years.

@AnimationOnly 3 месяца назад

The first box means you have to work to save money first .(Employee) Then ,use that accumulated money and open a business for example you sell hotdogs and coffee in front of your house .(Self employed) You expand your hotdogs booth to 20-200 food trucks which is doing business for you(big business) example with 1million profits per day .(Big business). Finally you become investor .

@shannonharris2602 3 месяца назад

Is it better to use a bank or find investors.If it's investors what percent should I give them on the money they invest.

@vitech5631 3 месяца назад

Banks don't lend easily & require too much, but some smaller or online only banks are very flexible. Must research and compare many lenders, who is willing, what interest, terms, etc. I have a private lender but he asks way too much 20% every 6 month

@mikev4373 3 месяца назад

This is why I’ve invested in Vanguard index funds my entire life. Fees are minimal and the returns will make you wealthy. The simplest inflation beater of all time.

@DannyC-je1mq 2 месяца назад

Ken McElroy great TEACHER! I have a question. When I buy a property should i go in for a loan as myself or as a corporation?

@edl8248 29 дней назад

LLC if it’s a rental

@DannyC-je1mq 27 дней назад

@@edl8248 what if it’s a first time property? Do I purchase the house first or get the llc handled first and then go in for the buy ?

@scsidrv 3 месяца назад

What if the assets you purchase to beat inflation plummet in value? Ie commercial RE

@vitech5631 3 месяца назад

1. You must find a way to have lenders or building the capital. 2. Buy properties at a low a price. Let the asset pay for the loan (renting or pull the equity using the bank if you stil can). 3. Read R. Kiosaki again & again, specially "Increase your Financial IQ". Follow his 4 fin.rules

@9xqspx6 19 дней назад

Ken says (in another video) that he only buys assets that cashflow. If your asset cashflows and you intend to hold it for a long time, you don't need to worry much about their market value.

@cpcreit 3 месяца назад

also look at the income tax structure, another elephant in the room to "slow down" one's capital appreciation...many self employed enjoys no tax withholding, allowing the money to grow during the 12 mos. When rates used to be 8-10%, imagine how much is made by accelerating loan principal pay downs...

@rollingpanda4198 3 месяца назад

Off topic here - Does anyone know what screen / tv he's using to draw on?

@vitech5631 3 месяца назад

Buy from Walmart or other similar stores- school supplies department, regular plastic whiteboard for writing with an NON-PERMANENT marker + eraser.

@9xqspx6 19 дней назад

@@vitech5631 LOL, that is a large touch screen Ken is using.

@misacbanglay2076 День назад

Invest your money where they offer compounding interest, after ten years your capital will double if they offer 7%anualy

@sophiec3592 3 месяца назад

Great info, no excuse here I’m a single mom of two. I been investing these past few years, it’ has helped me tremendous during this inflationary period. However now I am changing into real estate to keep accumulating assets. Thank you for a great video Ken! You’re amazing!

@aymansafi4423 2 месяца назад

Ok what can i invest my money in the bank in

@9xqspx6 19 дней назад

Find someone who is doing real estate projects and lend your money to them. Make sure though that your money is secured with the real estate itself.

@floridaaboy 27 дней назад

I am putting 13% into my 401k, which includes my company match of 5%. The rest of my money is going into a high interest savings account that I am using to save for a 25% down payment on an investment property. Is there a better way than just saving saving for an investment?

@9xqspx6 19 дней назад

You could already use your money to invest with someone who is doing real estate deals. Added benefit is that you could possibly learn from them at the same time. You need to be careful though and have a solid grip on your due diligence as there are some bad people out there.

@jimmyt5241 2 месяца назад

Be your own investor , people giving their money away by not just investing themselves , you get way higher returns , people with 410 ks telling me their only up 3-5 % in a bull market when they should be up 20-60%

@TheBerlyn186 3 месяца назад

So how did this cost you a billion dollars?

@robertgray323 2 месяца назад

No it didn't

@onestopfunstop317 3 месяца назад

Rich Dad Poor Dad did this Script 20 years ago.

@9xqspx6 19 дней назад

Not much has changed in the financial world in the last 20 years...

@ricardobarnett7716 28 дней назад

Not the most accurate advice. Every player in the industry can leverage each other and maximize profits. Its just understanding how to play the game. So main street can leverage the institutions to accummulate wealth just as how the institutions leverage them. So you can borrow from the bank to invest in icome producing assets and use the insurance companies to protect those assets from the government and debtors. Likewise you can borrow from your policies to invest in income producing assets at a lower interest rate. All these income producing assets give you more leverage to create more wealth by using the institutions. Its a network. Learn the game

@9xqspx6 19 дней назад

This was a 7-minute video, gave only the big picture info. There are obviously many layers to the game.

@danbragg 3 месяца назад

Wait. Don’t people give you money and you charge them a fee? How is that different, unless you’re teaching people how to do it themselves but still you have a course? 😊

@davidbrooks8809 Месяц назад

Basically own a business that should not be so hard😂😢😊😮

@StuStevens-rn7rb 24 дня назад

We're nothing more than Wage slaves sir. 🤔😯😥

@alphabeta8403 3 месяца назад

4:20 *Inflation is as deadly as a hit man.*

@9xqspx6 19 дней назад

Says a president who - as a US president - is the most responsible for inflation itself... Welcome to the lies of politics.

@janeznovak9964 3 месяца назад

wery well ... :D

@spiritualexercise265 2 месяца назад

Introductory economics, blah blah blah. Many provide this info, disappointing.

@djsmojo 3 месяца назад

you have the best videos but I wish u could give samples of how little guys can get going , what I would give to pick your brain for 20 minutes. how would you start with 50-100k?

@ameurus 3 месяца назад

@@Touchprofile864 fu!

@HousesByVic 3 месяца назад

Dude is the literal nemesis of Dave Ramsey 🤣

@azdbuk 3 месяца назад

Why do these videos? PITA if you are already set.

@9xqspx6 19 дней назад

I do believe that some of the good people, when they've made it, are driven to give back by sharing their knowledge. But you are absolutely right to be skeptical, it's useful.

@azdbuk 19 дней назад

Yeah, point taken. I still believe there are folks that want to do good, I hope I do not forget that. I guess the social media aspect is what is confusing, for me wealth would mean never having to check phone or computer, only if I wanted to. Peace. @@9xqspx6

@Feargamelioncheetahs 24 дня назад

We don’t want any added vices!!!!u r just a control freak

@haroldrios4050 3 месяца назад

You lost me at rich dad. Any reference to Robert Kiyosaki destroys credibility for me.

@larrynmariechretien228 3 месяца назад

I got started with rich dad poor dad, thank you but, he is a Trump lover that does not resonate with me these days..

@kavanaroy3484 3 месяца назад

Why may I ask? 🤔

@haroldrios4050 3 месяца назад

@@kavanaroy3484 hope you’re doing well and thank you for the question. I prefer not to talk bad about Mr. Kiyosaki as I rather let people find out on their own and form their own opinions. But I can tell you that there are much better mentors out there. John Bogle, JL Collins just to name a couple. Those are real life super heroes. Read their books, get to know them and their stories and you might understand. Kiyosaki is a salesman and a motivational speaker. He has no financial expertise and provides no fundamentals. As a person, hmm that’s what I leave up to you to decide.

@haroldrios4050 3 месяца назад

@@kavanaroy3484 I suggest you read John T. Reed's analysis of Robert T. Kiyosaki's book There are better mentors out there. John Bogle, JL Collins just to mention a couple. Those are real life super heroes in my opinion.

@kavanaroy3484 3 месяца назад

@@haroldrios4050 I’ll definitely give it a read as this has me super curious