31 replies
A pretty awesome and simple video which illustrates exactly how to acquire wealth.

#rich
  • Profile picture of the author Joel Young
    Makes perfect sense. Good reminder!
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    Internet Marketer gone back to his original profession as a musician. May be back someday..... maybe not.....

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  • Profile picture of the author Odahh
    the better way in the US today .. run for office and get elected . or be very close to someone you can help get elected get a job with them for a while after they get elected .. then leave and get a job as a lobbiest

    or start a business make a huge donation to a political party or both ..and use that influence to get competition regulated out of the market or a contract for your company..or your buddies in power to steal people land from them and sell it to you for a song .

    now if you have some sense of honor ..to get rich today .you create assets to sell. or and you tap into globalization to get products made one place and sold to customers spread out in many places .
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  • Profile picture of the author Odahh
    the cooler thing is how to live rich without being rich and staying out of debt .

    you don't have to own the plane to buy a ticket and fly to the other side of the planet .

    more and more today there are ways to get access to things with a much smaller amount of money than you need to buy . and many of the things we by today are no longer clear liabilities .

    if you own a home ..and work outside . unless there is high real estate inflation the home is a liability .

    but say you own a home , that you work from . then you buy solar panels or a geothermal system ..to cut operating cost over a long period. then you put in a garden to grow much of your food and get a few animals ..

    many of our devices have as many productive uses as they have entertainment uses today .

    also with craigslist and ebay you can get the things you want for much lower prices or you can then turn around and sell it when you want better ..rather than throw it out .
    and then there are ways to trade and barter .

    the key is to turn what use to be pure expenses in to brake even activities or even things that make a small amount of money ..or reduce future expenses .

    is it about getting rich or getting what you want
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  • Profile picture of the author QuelThalas
    nice and really true. do you made it yourself?
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  • Profile picture of the author Ionizing Ideas
    Spot on.. nice share..
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  • Profile picture of the author Gary Ning Lo
    This video nailed it.

    Brilliant and common sense concept that unfortunately most of us don't follow.

    Cheers,

    Gary
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  • Profile picture of the author Aaron Doud
    The problem I also have with the "Assets vs. Liabilities" equation is it simplifies things too much.

    For example you main home isn't an Asset normally but it isn't really a Liability. You have to have a place to live so you can either rent or buy. Either way you have a monthly payment (or at least a yearly tax payment if paid off).

    You also in most places need a car and even if you don't have a car you often have transportation costs. Ask a true poor person how expensive it is to not have a car.

    Videos like are written by people who have never been poor. Poor is about cash flow (actually lack of cash flow specifically). Once you get past the point where you have to work to survive the extra cash flow is yours to do with as you wish.

    Some would suggest you live under your means and invest. But unless you find some great investments you really are just giving up enjoyment now for a little bit of money in the future. Seriously think about it. With 3% inflation (and people like me believe it is a lot more since official number exclude high inflation things like health care) and a good ROI of say 8% you still are just treading water. I've done the math personally and I could give up (save) 10% of my income and in 30 years I would end up with like 4 years of income.

    So why are you giving up living now so that you can live poor in the future? Investing will not make you rich unless you already are rich. Sure the 1% make their incomes from investments but they have massive piles of cash they got other ways. Also many of the 1%'s investment income should actually be considered and taxed as compensation as it is stock options and other tricks that highly paid employees use to lower their tax burden.

    So if you want to truly enjoy life you need to stop investing since the only people getting rich off your investments are those who are already rich.

    You need to focus on cash flow. Assets & Liabilities don't matter. You need to have cash flow high enough to live the life you want. Then you need to start focusing on making cash flow that requires little or no direct labor from you. The smartest way to do this is by building businesses.

    Now those businesses may include real estate as a form of property management but real estate in and of itself will not make you money. It only makes you money if you can flip or rent properties.

    And if those cash flows get big enough than you can take that extra money that you no longer need to live the life you want and invest that in more businesses or even make normal investments.

    But for the average person the focus should be on getting cash flow above the amount you need to live the life you want and then living within your means. Loans (which would be called liabilities) are not bad as long as you live within your means. It is one thing to take a loan out on a house or car and budget it as a monthly expense. It is another to buy $10 lunches all month on a credit card and carry that as a balance. Living within you means doesn't mean being debt free but it does mean being debt smart.

    So if you are an average person you can follow that advice of videos like that and live poor to grow assets. Or you can live like me and live within your means and enjoy life. You have no idea how many more "todays" you will have so why give up living today for a chance of being "wealthy" or "rich" in the future.

    Here is the No BS truth. Most millionaires in America make less money than me per year. I have a negative net worth and I personally don't care. The winner isn't the one with the most money in the bank. In fact the guys who are truly winning have learned how to make money using other people's money. So feel free to save so they can use your money to make themselves rich. I'll be spending mine and enjoying life.

    Because if I die tomorrow I will know I truly enjoyed life. Can the guy with 1 million plus in the bank but who eats worse than I did on welfare (you eat pretty well on welfare honestly) say the same? Money in and of itself should never be the goal. What you want to buy with it should be.

    If you want to live poor my suggestion would be to work less not work the same or more than me and save the balance. If you don't need to buy things at least have the freedom of time.

    I have been on welfare. I have seen the bottom and trust me it is not that bad. When I am old if I have to live poor I am fine with that. But while I am healthy I am going to enjoy live and use my cash flow.
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    • Profile picture of the author Brent48
      Good post Aaron Doud , you are absolutely right Cash Flow is King...combined with good
      money management skills and the power of leverage,anyone can become Wealthy .The major hurdle for most people is that the income from a job ( JUST OVER BROKE) is only
      enough to cover the day to day expenses. They need to do something extra to increase their cash flow.....that were a online business can help!
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    • Profile picture of the author YHmuWong
      Originally Posted by Aaron Doud View Post

      If you want to live poor my suggestion would be to work less not work the same or more than me and save the balance. If you don't need to buy things at least have the freedom of time.

      I have been on welfare. I have seen the bottom and trust me it is not that bad. When I am old if I have to live poor I am fine with that. But while I am healthy I am going to enjoy live and use my cash flow.
      Good idea, but I am not rich enough to give and take.Any suggestions?
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      Number 11 is lucky in snake & ladders.

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  • Profile picture of the author Moneymaker2012
    Hmmm! that's looks very cool. Get Rich in no time is always like a dream.
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  • Profile picture of the author Odahh
    there is rich there is broke and there is poor

    you can make 1,000,000 a year and live in an expensive pad in new york or some major city and work 13 hours a day ..and get some airhead hot woman 15 to 20 years younger to be your woman.. or stick with the woman you married who has to engage in retail therapy .


    or you can build an income online of 1-2 k a month ..move to any of a dozen developing countries live in a luxry breach house for 700 dollars a month rent ..hire a cook and a maid each for 100 dollars a week..and get a smoking hot partner if you need one just for offering a big upgraded lifestyle ..
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  • Greg,

    Awesome and simple is a fitting way to describe that video on becoming rich. It was clear and to the point. I liked it because it made sense so concisely.

    Thanks for the look-see!

    LLS
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  • Profile picture of the author dash0205
    This is the most practical way to do it... its no-brainer! Love it!
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  • Profile picture of the author rodsav
    Great video - direct and straight to the point.

    Thank You - Greg
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  • Profile picture of the author Sornie Samante
    "Getting Rich is simple, It's more Like Being Poor"

    That's a huge reminder for me. Sure, we need to do things that will help us financially.
    And because of that, I am more empowered to work things out. There are more more and more ways out there for everyone to get rich... the secrets are just the following.

    1. Hardwork
    2. Dedication.
    3. Perseverance.

    And one more thing that I think would be best!

    TALENT! Yes, why not?


    Overall, thanks!
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  • Profile picture of the author Japles
    Just watched it twice! Good video. Great reminder to get those assets!
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    YOU are awesome :)

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    • Profile picture of the author curly sue
      Robert kiyosaki's phenomenal of buying assets to get rich. Warren Buffet rans his multi billion dollar industry in a box smaller than my bedroom, all he does is buy businesses across the world!
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  • Profile picture of the author Michael Ten
    Interesting video. Do you know what software was used to create it?
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  • Profile picture of the author dmarseller
    Greg Jeffries Thank you Nice video hehehehe

    THE SECRET: ASSETS!
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  • Profile picture of the author webworksbd
    video looks great! Though not sure if into real life it's really work like this.
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  • Profile picture of the author SergioFelix
    Video was spot on my friend and a good reminder that people do need to invest in their business to make more money online, thanks for sharing it! ;-)

    PS. Not sure why some people are over thinking if this is how it "really" is in life when it's actually so dead simple.
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    My Zero To Hero Marketing Blog
    MarketingWithSergio.com
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  • Profile picture of the author mert
    reminds me of robert kyosaki's RDPD.
    I really believe that spending your earnings wisely and investing it on something rather than buying liabilities will make your life easier. Great post and thanks for sharing!
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  • Profile picture of the author novel
    before the strategies and the good habits, it's mindset, period.
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  • Profile picture of the author eClicker
    I wonder how close this may relate to "The Science of Getting Rich" written in the early 1900's I think
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