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I think this book has some solid advice. However, I believe life should be balanced. I am 40 with zero inheritance and much prefer amassing wealth (millions) while moderately satisfying my wants simultaneously. This means I invest 30% of my gross income while driving a very expensive car (bought new, paid off, and still driving only 7000 miles/year) and taking several expensive international vacations per year (my absolute favorite thing to do). I must add that I have paid off my home plus an additional car and have no childcare expenses. One just needs a high income (for me from excessive years of education/training) and to choose tradeoffs that are consistent with his/her life preferences. But I see no value in frugality and sacrificing all one’s desires to retire later in life as a multi-millionaire without enjoying your life, as you see fit, within reason. I have seen many die earlier than expected or reach social security age with mental and/or physical limitations that preclude the use of millions to enjoy one’s post-retirement years. Everything must be done in moderation! Prepare for rainy days but also relish the sunshine.
I am a millionaire, but never live like one. I drive a top of the line luxury sedan, but it is 14 years old. I'm 90 years old and never want for anything.
And that might mean shielding them from the modern educational system who, more than likely, will not remotely share your values or your attitude toward money if you're a millionaire.
They needed to get as many scholarships as possible for us to pay for a 4 year college, that was the deal. Still, make sure they’re not getting socialist brainwashed
This video accurately describes most everyday millionaires. For example, I am one, and nobody thinks I have 2 cents to rub together because of my lifestyle choices, habits, unimpressive clothes, and the very old car I drive. The main factor is to just live well below your means.
Thank you very much for this amazing video. Your advice and the quality of the video is not taken for granted. I know how much it takes to plan and produce such video, so thanks for offering this to us for free.
I think I'm a bit of both I have decent cars on my drive but overall I'm pretty Frugal and more or less budget my whole year in advance. The thing is, according to alot of these spiritual programs being frugal does nt really attract abundance. Thoughts?
I have saved a large amount of money but unfortunately not enough to buy a house and lease it. I can wait another year to save more, the problem is that I tried to consult a professional company and they did not help much. I wish I could find a good financial councilor. Unfortunately I am from a different country, far away from you.
I would do my own research and find the best investment opportunity for YOU. Some invest in real estate and succeed, some fail. Some invest in stocks and win big while others lose. There is no universally good or bad investment. With some sound unbiased research, you can always find something that works and helps you sleep at night. Keep me posted on how it works out for you!
Most people who are poor spend their money on making themselves look like they have more money than they have. If you're not like that, you have a chance.
@@karlabritfeld7104 they did for the last two years. My f150 was worth more than I paid for it two years ago brand new. That is about to correct itself but it has been true for a while now.
I saved every dime for a few years..bought a house in Florida all beat up for 35k sold it for 65..bought another for 90k sold it for 160..moved to Los Angeles bought one for 120k sold it for 500k profit..man those were the Early years..I honestly Lost count at this point..it's been dozens...ya I'm loaded man.im not a millionaire..I'm worth millions..I have no highschool diploma...na .. just a GED..it all started with saving some money...
@@Mikegastaldo u are so right. I save and open a salon shop. Am now looking in to real state investment this 2023. I will definitely need ur help. Please reply me please.. if u can do it, I believe I too can…
@@Missacehairandbeauty I'm happy you opened a salon and are working everyday for your future not your bosses future..smart move... when you work for others or rent from others you are just building wealth for someone else... everything you do should only benefit you.. buying real estate is a game of patience..save your money..save your money..save your money.don't spend money on expensive cars and jewelry /clothes/restaurants/las Vegas..live below your means and save 50/80% of your income..the economy is key to your success..when all goes bad and people are broke and losing there jobs /homes/cars.. this is when cash is King and you will find homes that angry people damaged when they lost them at 70/80% off there previous retail value.. now it's time to spend your money...now it's time to get rich...it's exactly what I did.
