15 Money Secrets from the World's Wealthiest People

15 Money Secrets from the World's Wealthiest People

What are 15 Money Secrets from the World's Wealthiest People?
What are the most important Money Secrets from the World's Wealthiest People?

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00:00 - Intro
00:33 - Investments are made
when there is ”blood” on the streets
02:11 - Saving will make you poor, investing will make you wealthy
03:26 - Rich people buy assets,
poor people buy liabilities
05:01 - Compound interest is the eighth wonder of the world
06:47 - Never put all your eggs
in one basket
08:49 - You will get rich by giving society what it wants but does not yet know how to get
11:18 - You’re not going to get rich
renting out your time. You must own equity, a piece of a business to gain your financial freedom.
12:57 - There are no get-rich-quick schemes. That’s just someone else getting rich off you.
14:19 - Leverage tax-efficient strategies
16:41 - Create multiple
income streams
18:32 - Leveraging the power
of technology to 100x your output
20:22 - Use stealth wealth
22:22 - Fiat money
is not real money
23:20 - Create your
money principles
24:11 - The Pareto Principle

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[alux]

Hello ALUXERS! Have you downloaded the ALUX App yet?

[kortyEdna]

I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my inherited portfolio of about $2.5m. I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.

[tonysilke]

I love how you take your time to educate your viewers we all strive towards financial stability and a better Life. It is easy to achieve this through the right investment, by living frugally and budgeting. I'm glad I learnt early in life to work hard for financial freedom

[JanetMorgan]

Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg

[LarsBergstrom-uheu]

Becoming a good trade takes time and patience. When i first got into trading i was liquidated twice, and lost my entire mortgage deposit. I could have given up, but decided to learn how to trade and put it into practice. 4 years later and i am glad i made that decision.

[richardspenard]

I will forever be indebted to Amanda Elizabeth Keller. I continue to preach about her name for the whole world to know she has saved me from a very huge financial debt

[dianarabbanii]

Everyone has been preaching "buy now, stocks are at a discount" but I've been buying stocks since the beginning of the year and yet nothing's changed, but I've been reading articles of people still in the same market pulling off over 350k in just a couple months, what am i doing wrong?

[Ayo_Aderinola]

The only 3 principles regarding wealth that I know is this:

1. Never spend more than you earn. You can't eat your cake and have it.

2. Never take financial advice from people who aren't wealthy in the practical aspect. Why would you ask a plumber to teach you how to double your money?

3. A man's wealth consist of his income producing assets, not his purse. Your best investment is yourself. Broke is temporary; poor is permanent.

If you think you're not financial stable right now, I want you to know that YOU CAN DO MORE THAN ENOUGH WITH WHAT YOU HAVE RIGHT NOW : TIME, FREEDOM AND GOOD HEALTH.

In addition, a man's wealth is what is inside his brain and his sound physical health.

[josephfrys]

Every family has that one person who will break the family's financial struggle, I hope you become the one 😊

[erikacristina]

Great video. I’ve watched several of such youtube videos. I believe now is a great time to diversify your portfolio and investing strategies. I’ve watched YouTube videos on how to trade and invest in the market but haven't made any head start because they are either talking some gibberish or sharing their story of how they made it and I do not want to make mistakes by taking risks in my own hands

[jimbouchilon]

Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future. Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it. "You're not going to remember those expensive shoes you bought ten years ago, but you will remember every single morning when you look at your bank account that extra 0 in there. I promise, that's going to be way more fun to look at everyday", I pray that anyone who reads this will be successful in life too

[ZealSam]

Next video: 👇
1. 15 ways to avoid distractions.
2. 15 ways to deal with recessions.
3. 15 ways to combat competition.
4. 15 ways to find the next billion💲idea.
5. 15 ways to get your first 1000 customers.

[KristinBentz]

Well explained. Thank you for bringing up this video. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject Thanks to Georgina Lucas the lady you

[manavmishra]

Wealth is created through concentration and protected through diversification😊

[Wolvious]

Alux I am at the bottom tier list, and I will become a success in my definition of it. Thank you so much for the videos, the app, the advice and more!

❤

[skyboy]

I love the new style of ALUX videos, and even more that they are not everyday. Its getting too much to follow here, the Alux App, The Tim Ferris Show, Peter Attia, Tom Bilyeu...

Love the longer 20 minute range, love the new subjects, and the videos are better, even that I only follow the screen 30% of the time

[NwachukwuEdithN]

The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.

[emilymccord]

The future belongs to those who believe in the beauty of their dreams. Success is a state of mind. I start investing my cash in other to achieve all my dream with the help of Lucy Mary Liam. The difference Mrs Lucy Mary make in my life is second to none. It's definitely a life changing kindness. I really appreciate her effort in my life time.

[anthony.zervas]

I would guess that most people are unaware of the "stealth wealth" principle as I have been :)

[courtneyantonio]

I disagree with using diversification to grow wealth. I feel it's what you do to preserve wealth. Even Sir Richard Branson started the Virgin empire with one singular focus before venturing into newer industries.

Look at the path of ALUX. Did you guys start all the ventures at once? Or focus on them one at a time until they were stable? Diversification happens over time. Not all at once. That's my belief from what I have observed and lived.

Great content.