Why 80% of Millionaires Go Broke: Avoid These Common Mistakes

Philosopher and Irish statesman Edmund Burke once said, “If we command our wealth, we shall be rich and free. If our wealth commands us, we are poor indeed.” In today's world, many people think that being successful means having lots of money. Even though we all have different dreams, we frequently find ourselves caught in the cycle of earning and spending, trying to balance what we want with what we need. As we pursue wealth, we can't help but wonder: What are the mysterious rules that control it? How do you get rich? In this video, we explore this question by revealing 8 rules that guide the world of money.

[PersonalFinance-me]

"Wealth consists not in having great possessions, but in having few wants." - Epictetus

This quote by the Stoic philosopher Epictetus aligns with the idea that true wealth and freedom come from how we manage our desires and resources. It emphasizes that contentment and financial independence are more about controlling our desires and living within our means than about the sheer amount of wealth we accumulate. By minimizing our wants and commanding our financial decisions, we achieve a richer, freer, and more fulfilling life.

[Sylvan_dB]

The most important money rule for the majority of Americans today: Understand compound interest. Those who know it, earn it. Those who don't know it, pay it.

[Russelbobby]

*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*

[GodstimeNonso]

I had problem comprehending trading in general. I tried watching other YouTube trading channels, but they made the concepts more complicated. I was almost giving up until when i discovered content and explain everything in detail. The videos are easy to follow

[richardpancham]

Most people not born rich or have a good paying job . People have to start some where.

[jonbadis]

Wealth consists not in having great possessions, but in having few wants

[larss]

Only $17, 000 per month? That is more than 3 months salary in other countries.

[AngelaVlahos]

basic human rights on wealth. Robin Hood.

[b-rare]

“Refusal of help can strain relationships” … if someone asked me for money cause I have money and I said no, and that in turn strained the relationship, all I can say to that is thank you for letting me know you’re shallow as fuck and only wanted my money 😂 . I literally say no to everyone . If someone asks for your money and you say no and now because of it the relationship is “strained” that wasn’t a relationship I’d want to be in in the first place then. People are just users man. I find almost all human relationships are transactional. People will only be friends with others or interested in others solely based off what that person can do for them. It’s pathetically disgusting. This is why I literally have no friends . I find everyone is just fake as fuck, jealous, and out to get you. And when the opportunity comes they’ll throw you under the truck no matter what . No one has your back but you. Rely on yourself. No one cares but you. Don’t do things for people because when you stop they’ll just get mad and not be your friend anymore (transactional relationship).

[katiekilbo]

Invest in the financial markets before retiring by diversifying across assets, allocating a small portion of your portfolio, staying updated on market trends, and considering long-term holding to balance risk and growth.

[stuarthudson]

Great advice 👍 cheers 🍻 mate regards from stewy Hudson and Family Birmingham city England 🇬🇧 👍 😀 👏 🙌 👌 🇬🇧 👍

[MianHussnain-tuwi]

I feel sympathy for our country, low income people are now suffering to survive yet inflation and recession keep increasing daily, many families can't even enhance the good cost of living anymore. You've helped me a lot Sir Brian! Imagine I invested $50, 000 and received $190, 500 after 14 days

[CornellSandifer]

What I want is peace and for people not to be so stupid but I got a better shot at peace for the most part being interrupted by stupid people now and again, as well as here or there.

[annddyyy-]

My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to make investments. Saving is great but investing puts you on a pedestal where you wouldnt have to worry about savings as you do now. Thanks to larysa Caba, my portolio is doing really great and im proud of the decisions i made last year.