5 Ways to Manage Your MONEY Like the RICH

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In this video Ken outlines five key take-aways as to how financially successful people manage their money differently. Specifically he covers:

Q1: What is biggest difference between people who are successful with money and those who are not?

KEY TAKE-AWAY #1:
* The biggest difference is mindset
* Financially successful people direct any excess money towards investments or appreciating assets

Q2: What is the difference in how financially successfully people view assets and liabilities?

KEY TAKE-AWAY #2:
* Focus on building income producing assets
* Debt is a powerful tool and can be viewed positively if used to help build income producing assets more efficiently
* Try to avoid using debt to acquire unnecessary depreciating assets such as expensive cars or clothing

Q3: What are some tax & legal strategies utilized by financial successful people?

KEY TAKE-AWAY #3:
* Use an LLC for asset protection to limit exposure to liability
* LLCs help separate business activity from personal which can have tax benefits - please consult your tax advisor
* The tax code is established to motivate specific economic activity so think of ways to utilize these incentives

Q4: How do financially successful people manage their money differently?

KEY TAKE-AWAY #4:
* Be active in the way money is managed and think about the investments being made
* Use personal networks to source knowledge and expertise for better opportunities and consider investing collectively with others

Q5: How do financially successful people view money, currency, and the dollar?

KEY TAKE-AWAY #5:
* Currencies throughout the world are subject to free floating exchanges between countries which are complicated to understand and are exposed to punishing circumstances
* Direct portions of earnings into investments independent of the impacts of inflation, such as bank savings, and into investments with actual economic utility such as real estate

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For more resources on this topic check out the links below.

How to manage your money like the super-wealthy - CNBC.com
Aug 20, 2018 - Even if you aren't raking in millions, you can grow your wealth just by mimicking the financial habits and strategies of the ultra-rich. Here's how.

7 ways to manage your money like a millionaire - INSIDER
Jul 16, 2018 - It's true: Wealthy people manage their money differently from the rest of ... Here are some ways you can manage your money like a millionaire ...

How Millionaires Manage Their Money Differently? - Lifehack
If you want to be wealthy, you have to manage your money like millionaires do. There are 10 ways the wealthy manage their money differently than everyone ...

15 Ways Millionaires Manage Their Money That Make Them Richer
Mar 22, 2016 - Millionaires, or at least the ones who keep their money, know the difference between wants and needs.

[baadal]

Happy teachers day sir, thanks for being the guiding light for us.

[joerogan]

Thanks for all the Wisdom.

It’s interesting to watch these dated videos. I can tell you have faith in your plan, especially now that it’s playing out with an unavoidable downturn on the horizon. Keep up the good work!!!

[melanierembrandt]

Great advice that's short and to the point! Thanks Ken!

[costaricap]

Ken, I’m so happy again to finding the best guy to learn from. Do you invest in developing markets also? Per say Ecuador?

[sdbullion]

Nice video Ken, a prudent allocation to gold and silver is one key, but you just rattled off many others.
Sub'd

[paulaorty]

Hi Ken. Where do you find the information for investing in oil companies, gold mines, etc.? Are these known as drip programs?

[Sanjipoi]

I always appreciate how insightful and informative yet simple your explanations are. They really make the concepts easier to understand, reflect upon, and apply. Thanks Ken!

[cremls]

This is great stuff, I'm definitely following your videos!

[amolgill]

Ken great video! Seriously! I've gotten so much value from this video and as a 16 year old I will definitely be a successful real estate investor!
Thanks again

[buttlesschap]

you mention buying into gold mines here - does that mean investing into a jr miner or the actual land deal itself?

[Batinya]

Can you pls make us video on some examples or ideas on income producing assets

[kevingmail]

Ken, always thankful for your insights as reminders

[gamingshortschannel]

The Richest man in Babylon! Seek advice from people in that particular field.

[UltimateBargains]

Ken, are you available for personal (one-on-one) mentoring?

[janshev]

Hi Mr. Ken, you mentioned someone who is master at stuffs like the tax code, what is his full name again? I only catch the 1st name Tom.. Thank you for these videos. Very informative!😊🙂

[MillionaireGoldDealer]

Great video! Just subbed and liked. Let's stay in touch👍😎

[ddillard]

When they say get out of debt didn't get out of bed. If you had a mortgage on an investment property, that's good debt

[gamingshortschannel]

I do understand that the questions the person is asking is not Ken's expertise.

[jeremiah]

i would highly recommend everyone to read Rich Dad Poor Dad

[ljr]

50, 000 annual dues...anything cheaper?