A wise man once said that “If you took all the wealth in the world and divided it equally amongst everyone, it would eventually fall back into the hands of the wealthy”.
MODESTO faxx, if u give 10k to my sister , that shit would disappear in days If u gave me 10k or one of my associates that 10k would turn into a 100k in less than a year
Unless you devised a way to prevent the wealth from all accumulating in one place. This is not fucking rocket science, but pick your favorite propaganda and follow it, I guess.
@@24barrasnick12 That 10k would turn in 100k In LESS THAN A YEAR. ARE YOU JUST RUNNING YOUR MOUTH TO LOOK BIG ON HERE. Or do you actually have ANY PROOF. That youve 10 X 10K inside a year????
That guy is one punch man. He is bigger the countries. If I chuck a football it will hit my neighbors rover who is much riching then me. I , I I can't stand it Ahhh. I aint putting up with it.
No need to complicate, most people are poor just because they chose to. It's not that difficult to increase your wealth year by year if you have stable income. Increasing wealth can be only $10K first year, but then it can be $100K in 10 years, then it can be $10Mil in 20 years. However, if instead of saving, investing looking for ways to make money, someone things business they work is obligated to take care of them, pay them, pay for their retirement, then these people will never get rich even if their salary is 1 Mil a year.
u know u can actually instantly put ur self into struggle ......... my life is comfortable.....but when i can't resist going to sleep i break the bed so i don't look for a place to lay down till i finish what i wanted to do every night
There is a choice one makes if they want to be rich or poor. Each persons definition of Rich is different. If one only thinks that having money is rich, that's their choice. If someone thinks that having good friends, being healthy, having a beautiful family is rich, that's their choice. Each of those people will die. Choose what you want. Having the freedom of choice is rich!
Everyone already has the most valuable asset you could ever get.......time. Not everyone invests it wisely. Some people 'buy' time and most people 'sell' time. Everyone has been given the same amount of time and it was 'free'.
There are so many scam gurus on RU-vid. All they do is just brag about themselves without even teaching the real thing about business. This is why I love your channel. You're a real deal❤
Yes exactly...WE need the UBI dividends.. based on GDP.. we would not have all these wars with direct voting and with a jury system administration corruption would not happen .. Also a UBI based on 50% of stock dividends and the GDP which would be given to all adults would be about 4200/mo ...
Rideshare Done Right yeah, I have the most respect for the people who built things from scratch, not just boosted into tobacco plantation wealth! Pats done it from the ground up 😀🕺🏻🎥🏖🇦🇺
See I dont get it. Poor people always complain about the rich and want to take money from them. Poor people! That ain't happening. It ain't happening. The only way to win against them is to become one of them.
god I want to pause this video and say thank you so much for helping out the less fortunate like myself.... my family is very poor growing up and i'm sleeping on the floor as i type this. Thank you for giving back.
This is another good video you might not know about - ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Ur9GR9Q_6Xc.html I wish you a very happy and successful life my friend 🍀
Otaku Sage You could start a Meetup group. If you haven’t heard of it type in Meetup.com and see if there are already groups that you’re interested in in your area, if not you could start one yourself. Good luck x
@IHaveSwatches not necessarily... more resources are yet to be tapped into in 3rd world countries. there are rich people in 3rd world countries if you look closely
Real Estate can. Property grows in value and collecting rent is cash flow. Not guaranteed but it's there. In 20 years value goes up 10 times meanwhile the rent buys houses and cars over the years.
@@joeschmoe1193 What about maintenance cost, urgent repairs, property taxes, court fee's for problem tenants? Also, where does the value go up by 10 times in 20 years? So a rental property bought in 2000 for $100K would be worth 1 million in 2020? It might be possible in silicon valley if you bought the property back in 1990, but that is very rare.
Compounding interest aye....? No one ever heard of inflation, or rather devaluation....? Everyone needs to watch Mike Malonys series hidden secrets of money. In 20 or 40 years, what can that amount of money buy you. BTW, its actually currancy, and thats assuming that the banks dont take a holiday and take all or most of it. The banks will never offer that sort of interest rate anyways, because they know. Watch the series and learn. I stopped this vid at the 7 min mark.... its true in principal and probably worked 40 years ago, but not now... Actual Gold and Silver real money, silvers best bet I reakon.
@@unkownuser5809 I'm having the same ? All the time and no one able to answer ... Specially in these days when your mortgage going to be let say 800\900$ a month and the rent prices are around 1100 2000.... I wanna see how you can make money of it ..... Yeah right after 30 yr when your loan is over maybe.... But thanks by the time I'm gonna be at least 60.... And had a home where other ppls lived ....
the great thing about wealth is that anyone can enter the game....except those that think wealth or high levels of success are bad or selfish. Those people are their own boat anchors in life.
English is the 3rd language for me but I literally, wrote down each word that came outta his mouth and I'm gonna learn it and memorize it by heart. Thank you, Sir :)!
I Love your dedication, My name is Michael and You are My type of Mindset and Friend Cheers to our wealth Champion and other champions we are the next Trillionaires (My Goal) AIM HIGH
The difference between the rich and the poor is leverage. One has to learn how to utilise the many forms of leverage. You cannot get rich by working hard alone
The older i get, the more i realize that your parents play a huge role in the overall success in your life. Work ethic, love for your children, love for society; all the money in the world can’t instill these qualities in people. You might not have $783,000 dollars, but you can still be overall successful and have a great life; where being in the 1% just enables you to have more stuff....
A year ago I got hit in the FACE by the same wake-up call. This year I realize something else. None of my "once-good friends" care about positioning themselves in life. So while I'm sitting hear in my tattered room working my way up out of this miserable situation, they're out bathing in booze and billiard betting. I'm so f*cking lonely that I'm losing my mind... But I'm pretty damn sure that 5 - 7 years from now, I'll have my own property and a stable stream of income - while my old friends are still the same - bathing in booze and billiard betting.
I can't be more grateful that I am 17 years old and have considerable more knowledge about money that probably more than half of the population of USA. For almost two years, I've have watched your videos, read books and talk to other people about the subject. "Try not to become a man of success but rather try to become a man of value."
Thank you Pat. My whole team is now hooked, and people are sharing your ideas in the company. Your content is real and actionable, even in Pakistan's social and startup/business context. Our company has 550+ people. I'm new here as a team lead in brand & marketing, and i'll make sure everyone subscribes to the channel! Stay blessed!
He omitted to state the most important factor: View: 1. *Central Banking Explained (satan's monetary control) Part 1 of 2* (a8GyHK8751s). 2. *ALL WARS ARE BANKERS' WARS* (QlunSNY5B48). 3. *Did he do it?* (4LmepJ5JGNg) ... narrated by a Jeω. 4. *Usury - The Real Reason The J ews Would Kill Jesus All Over Again* (Cj5nTmTTIoA).
taoist40 “not every” you could say that about anything. I don’t get your point. Not every car is red... Not every pizza is round... Not every business is profitable.
Complaining about the wealth gap is as futile as complaining about the "talent" gap. It's like saying "it's unfair that Michael Jordan is the best basketball player of all time". Maybe he has good genetics, but his success comes from all the years of hard work and discipline. He also had the right strategy. The same goes for anything in life, money included. The rich are getting richer because they know how to make money, while average people don't even try to understand money. Well guess what, the rich get richer and the average people stay where they are, just like Michael Jordan got better and better and average players stayed where they are. But it is simply easier for the ego to blame rich people and to say that they don't deserve the money instead of trying to model them and do what they did
well they don't , as money is power and needed in everyday life, person at hospital is needed to save your life, but one works to get all the money other works to save life and get money to live.Making everyone greedy is only road to destruction.
"Making everyone greedy" is impossible - because everyone is already "greedy". Every human action is performed with the intent of making of the person go from a state of less comfort to a state of better comfort - otherwise, the person would not act. Praxeology 101,
Such a shame Switzerland was not included in your list of countries with the most rich people, because we certainly have more than 1 million people with more than 750k USD. Actually if you take into account only the working population (16+ yo) we have the highest rate of millionares in the world (7.8%), and with only active workforce (excluding the unemployed or students) being considered it rises up to 10%. That means every 1 in 10 adults in Switzerland are millionares, that is the highest of any country, achieved by sustaining the only Laissez Faire Capitalist economy in all of Europe; Poland is catching up though.
Also here in Switzerland we don't have the kind of wealth inequality you've got in America, the bottom 70% of Swiss people own 30% of all the wealth, versus the 3% in America and the global average. There is certainly a need to respark entrepreneurship and I am certainly glad you are taking part in making that happen.
Alejandro Planas I don't think there is anyone with basic knowledge of economics who don't know how much money is in Switzerland. My only question is what happens to frozen accounts say for African dictators? Where does the money go?
Well precisely on that note, with regards to African dictators who stored their money in Swiss bank accounts, money which was later confiscated by the Swiss government, a lot of those funds are being given back to those same African nations right now, for example Kenya. Kenya has started a crackdown on corruption and corrupt politicians, a push towards freedom, peace and liberalization of the markets; as a result, Switzerland has decided to give that money back to Kenya. Essentially, you could say the money is put in trustfunds until those countries pursue a "correct" way of governance (less corrupt and more democratic).
The rich study how to make, grow, save, spend money and wealth and protect it and hire or are with those who will help them and advise them about money. The middle class and poor don't and just earn and try to hold on to money and spend it
1.Exponential growth - increase the amount of revenue,profit and income. 2.Positioning - you can’t get rich by spending your hours. It’s very limited. Position urself as employee , or either entrepreneur. 3.Long term thinking -20 years thinking.
I was never dropped off either bud. Walked 4 miles to and fro ever day. We were fruit migrant workers. I went the Army the same reason you do. I f’ing love people like you. You are living proof this is the greatest country in the world. We’re the the America dream. 🙏🤝
Lower income people need to spend all or nearly all their salary on living expenses. They aren't able to invest it and benefit from continuous compounding.
@@DucksDeLucks That's exactly what I'm saying. Rather than paying the bank for your home. Put that money in investments, you'll have exponential higher ROI.
Point 5 is one that really frustrates me with current education systems. They train you to be a jack of all trades instead of pursuing even more specialization. Specialization that needs to happen even before university (which is useless nowadays anyways).
Collaboration and connections are just tools used to gain competitive advantages. Competing is not dead ,it is alive and well with new tools available to succeed!
Hey pat! You always emphasise on specialising; Specialise! Specialise! Specialise! What is that one thing in which you are specialised that have taken you so far..? Thank you in advance.
Rich people have a mindset that poor people just do not and these rich people mindsets keep getting passed on generation to generation for the rich people. It's like the mindsets are what create the wealth and those mindsets are secret to the wealthy.
Most kids will not be able to absorb that complexities of money and how it works. In fact, most ADULTS don't understand until they find themselves in a financial problem. What we need to start teaching is the economics of decision making. THINK about your decisions and do risk assessments. From there as the child grows older, let's say 16, then you can begin to impart the complexities of money. But you need to keep it relevant to what they know: Taxes and Interest, since that is something they will immediately have to deal with as soon as they turn 18.
One thing I found very interesting that happened to me was that because we didn't have time to talk about everything on our class on Economics in highschool we skipped the part that talked about saving/investing , which btw was the part I was waiting to talk about all year long 😂
I agree with Pat, but I also think that being rich or poor is all about the mindset. Poor people only complain and say things like: " It's all the goverments fault" or " You have to be born in a rich family to be rich". Rich people rather think that everything is possible and the only thing that stand in your way of success is yourself.
You know, you look at the amount of multimillionaires in America, but something else to realize is the poverty rate. Yes, it is harder to be a millionaire in Japan, but it is also much harder to be poor. These "socialistic" aspects you're looking at aren't bad things. I don't think they're complaining about their safe streets and graduation rates as much as we are. That being said, I agree with all 10 of the points you made.
Don't romanticize Japan. I lived there for 7 years as a student and trust me there are thousands of homeless people as well just the culture is different they don't stand on corners begging for money like here in america. They have an honor society so for them its shameful to ask for crumbs
Your research, statistics, numbers, names, and studies you express in these videos you make is unbelievable! I love how you deliver it all!! Much love ❤️ PBD!!!
Love ya man, but your math is off. You need to account for inflation from 1982 to compare to 2019. Compare 2019 dollars for 1982, don't use 1982 dollars, that's a straw man argument.
How the hell you bring such a fresh, valuable and pure content. After watching your videos it's like blessed and grateful I got your channel. The name resembles with your channel.
That's why I watch Valuetainment. I'm curious, I want to be as close to 1% as possible. Thanks Pat for all the amazing content, your videos help me get one step closer to that dream
If you're young with many years ahead of you, in good health with a good woman, smart and willing to work hard, enough to eat and roof over your head, without serious addictions, you are already rich. No amount of money could buy good heath and a good woman. Timing and a little luck goes a long way.
Matrix Online Shopping Yep,he sure did. But at least he mentioned taxes. How many of these self proclaimed multi millionaire speakers talk about taxes? How many of them even mention the names of the companies they supposedly built? To my knowledge, only a few and Patrick is one of them. My favorite, Brian Tracy, doesn’t even talk about taxes or mention the names of the companies he’s built before starting his personal development coaching corporation.
A video on tax discussion in California would be very short and not that interesting. Let me give you a summary. Step 1: Move to another state. Step 2: Pay attention to the correlation to democrat states, poverty, and rates of taxation Step 3: Don't make your new home California.
Thank you for all the information, everything you do is helping me in my life, personal and in my business. Absolutely one of the best mentors on RU-vid, again thank you
Perspective. That’s more than any dollar symbol. Perspective we are healthier, better, loving longer, higher birth rates, and less violent crime. There are soooo many more charities and services as well. Bring on the wealth!!
Hey Patrick I am new to the channel can you tell my what is important the ability to sell stuff or the ability to come up with idea? Most suggest me to work on my ability to sell stuff
Exactly,all those years ago,probably before you were born,I did not even know what I needed from the people who were to sell my product-goes to show you just how dumb even inventors can be.Its embarrassing even these many years later to reflect on my ignorance of what was needed to sell my product.No internet and my product was technology based selling to an ultra conservative group(pharmacy).
Keeping your wealth requires that you do certain things: Put your wealth to work. Putting your wealth to work means investing it wisely in stocks, bonds, real estate and other business opportunities. This helps multiply your wealth.
If the pubic school system taught us about interest and taught us that debt financed consumption undermines future consumption and taught us basic personal finance, then the gap between the rich and poor would contract.
Oftentimes, the rich spend more of their wealth to simply maintain their stature. So it's not like they spend more than us to be happier but to simply maintain their stature. They get private rides because they work around the clock and need rides on demand. They wear the best clothes to give a good impression to others. They buy large houses in a secluded area because they need all the space that they can get for their personal belongings and need to be isolated from the malicious public. They eat the best food so they can be in the best condition to put forth their best self in their high-pressure position. So all these luxuries are mere conveniences that allow them to make their high pressure/high-risk position easier to handle. That's why many of them don't really get to pause and enjoy them but rather utilize them for making anything besides their career less of a distraction.
How many rich people you know? You seem to know their motivation. Read millionaire next door and you'll see you are wrong. Rich buy quality so they don't have to buy again. They buy once. A billionaire has 10,000 times more money than someone with 100,000. So the billionaire can spend 10,000x the money on every item that an upper class person can spend. And they usually don't.
Very true. Wealth is a mind set. All the millionaires I have met, including my father, have a completely different mindset, from other people. I do not have a wealth mindset. I love to be poor, and live dirt cheap. If my monthly social security vanished, and there are no buildings on the earth which need repairs, then I can live on yoga techniques.
Love the video your math is just off: 3% gives you after 24 years $20327 about ($20.000) After 48 years it gives you $41322 (about $40.000) Correct so far but here is your miscalculation 12% gives you after 24 years $151786 (about $150.000) not $160.000 but I can see you round it off And after 48 years it’s $2.303.907 (about $2.3million) not $2.56mil that makes your 64 factor shred to a mere 55,75... about 56 Now why does this calculation error make a huge difference, say you have that account for your grandchildren. After 80 years the calculation error made is by guessing it will be $96.2mil while in actual fact it would be $86.6mil. That small calculation error can cost someone up to $6.600.000. Great example however keep it real and use math ;D
Hi Patrick, here’s an idea. The world badly needs information on how to get from being poor to financially ok to get by. There are billions needing this skill/ information/ motivation
The nr. 1 reason why you get richer when you get rich: Because the most profitable options of getting money are only available once you already have money. It has very little to do with saving money, or working a lot: Those are all necessary (for some people), but they obviously don't make you richer. I.e. if you simply inherent a lot of money you get richer just by giving it to good investors and In some cases the opposite is even the case. There are many really good sociological and economical studies on the subject, the mechanisms have a lot to do with class based mechanisms to segregate people by habitus (Bourdieu). To all the people who are not rich but still defend those mechanisms, I really understand you for not being willing to give up your dreams of a just society, but from a sociological standpoint the thought that the distribution of wealth is just in any sense of the word is just laughable (or better: it's considered an ideogical self-affirmation by the people who simply need or want it to be true). If you don't think I am right, I'd like you to propose some kind of theory or empirical data.
of course you are right...and sane...the dude in the vid preaching this bs to the privileged children of alcoholics and opioid addicts (see majority of commentary) is the true threat to modern society
@johnny walker He is not talking about bank interest rate. He is talking about 12% return on investment whatever it may be. US stock market has been on a 10+ year bull run. You could've just blinded gone with S&P 500 index and come close to 12% annual return for the past 10 years. Of course this won't continue forever, but that is also his point. You always gotta move your money around. Always find your next opportunities.
I stand by every point you made in this video. However I would just like to point out the $5k he had at the age of 14 in 1944 would be the equivalent of $70,840,23 in 2018. And the $10k = to $102,292,12 today. That is tremendous amount of starting capital and that is a big factor wealthy people usually try to downplay. A lot of them come from middle/upper middle class families so they have a healthy launch pad. You made it from the ground up and I assume your journey was more challenging. I respect Warren Buffet he's definitely earned his money, but we also have to bare in mind he had $70k at the age of 14. 99.99% of 14 year olds don't have that type of money to play with and I'm assuming majority of people watching this video. Thanks
The lame excuse of "why don't you work /or study/ to become rich" *so* awkwardly misses the point. It's not about how many MORE rich people there could be, it's how the system makes rich people _at the expense_ of everyone else. Because if everyone were rich, there would be no one to exploit. The economy is a closed system, you only make money by making someone pay (or pay unfairly more) for something (a product or service or legislation or outright scams). So the answer is not "why don't you also... " but why our system allows such gaps to exist in the first place.
By definition, everybody can't be rich at the same time since the prices would inflate. Also this is more of a motivational talk to develop yourself, it's not about the economic system and it's failings. Don't take it too seriously..
I was in a supply job in the Marine Corps which is not lucrative, but when given the opportunity to begin a career in IT, I took it. I started at the Help Desk, then learned SQL to maintain and create databases, and from there went into system administration, then went into information security by learning Python and JavaScript. You have to be willing to make decisions that will allow you to move up in this world.
Now I work as a security engineer using the coding skills I developed from watching RU-vid videos. I created applications, and showed my engineering skills. I did this all for free from watching RU-vid. Yes my GI Bill paid for my college, but I joined the Marine Corps as a trade-off. I am a civilian now working in IT and had I not made proper decisions, I would still be trying to find my way as a supply person working in warehouses for 12 dollars an hour.
Biggest mistake I’ve done at 20, is buying a new vehicle for $24K. I already paid it down to $13.4K in 8 months. I wished I would’ve bought a $10K vehicle. I would’ve been debt free right now.
the truth is people aren't willing to make the sacrifices financially and personally required to become rich. they want it to be given to them. reality is most self made millionaires dedicate life to getting rich at sacrifice of personal happiness. most want to spend their wages cars, holidays etc which you can't fault them for you only live once (for all we know). only a certain breed of person has the hunger and love for money
I just found your channel the other day. I have already watched six of your videos. Very impressed with your message, not only that, you are excellent at interviewing!
Wealth is more of a mindset than anything else. If all money was dibbied out evenly to every person in the world, it would go back to those who know how to use and make more no matter where they are (little towns, big cities, on an island, exciting places, depressing places, etc.,).
Patrick great content as usual. Was wondering if you could do a video on effective methods to get the most out of books i.e your method of reading. I think this will benefit all the valuetainment nation. Keep up the good work!
You start from the beginning and you read all the way to the end. You don't start at the beginning then stop in the middle then never read it again. Finish what you started. If you want to speed read, just read every 3rd word.
