7 Things POOR People Waste Their MONEY On in 2024! By Warren Buffett

Things Poor People Waste Their Money On - Warren Buffett in 2024!

Buffet explains to us 7 areas in which people with limited financial resources tend to waste their money, trapping their financial progress. The objective of the video is to provide practical advice, so that you reflect if you make any of these mistakes, you can correct and improve your personal finances.

#financialeducation #investments #warrenbuffet

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[bflhoki]

The fact that nobody talks about the forbidden book Scarpure money speaks volumes about how people are stuck in a trance

[Robertgriffinne]

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market

[tmer]

Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k. My mom retired with about 4.2 million, but my dad retired with roughly 1.8 million.

[ColtonBeau]

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.

[austinbar]

Though everyone loves the luxury lifestyle but many don't want to take the risk to invest or work for it.. Now's the best time to buy the dip and it's an opportunity that will grant you all the luxury you crave for.Very interesting content, i would also be glad if anyone here can explain a few things for me, this is 2024 and I believe it's my time to invest and shine for a better future.

[Bezosjesss]

I'm 62 and feel bad for younger generations. They want so much - a big house, new car, raising kids, vacations, eating out, designer clothes, specialty foods, etc...and feel deprived when they have to sacrifice. I was the same way but some things changed as I got older. I stopped wanting all that stuff and just feel content having a big stack of cash saved, no debt and a reliable wealth manager to help me stay afloat through retirement. You are a breath of fresh air, and I hope more young followers take you seriously.

[velayuthman]

(7) impediments to wealth: vice (alcoholism, gambling), dining out, brand new cars, adult dependent children, materialist partner, being a consumer versus owner (investment/business ownership)..Judging by this I feel under pressure to get the most out of my $424k in savings. In order to increase my yields, I am in desperate need of guidance.

[jessy]

The 1% of rich people think of how to invest their money to increase their wealth during the recession. While 99% of struggling hard-luck people think of how to survive without food and daily necessities in the recession and the coming hyperinflation

[thetndixie]

To rent space was going to cost me $1, 200 a month whereas my house payment was $500 a month. It was a no brainer to buy the house.

[marianion]

What I've extracted from this is that if we borrow money, it needs to be for something that generates money. Also, don't waste your moneyto appear something you're not and don't hope that money will fall out from a tree without work. Well, my dad told me those things 40 years ago.

[Riggsnic_co]

These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.

[danieltaylor--]

Great Video. I'm a 52-year-old QA Specialist at Confluera, with an annual income of $150, 000. Although I do have a retirement account, I'm keen on exploring short-term investment opportunities as I prepare to shift to part-time work in the near future. What would be the most suitable strategy to achieve my goals?

[davidbourgoin]

Life isn't all about making money it's a balancing act between making sure you have enough money to be comfortable but also not forgetting to enjoy life.

[fueledbymusic]

Buying a house has been one of the best investments we made. Our house almost double the value by the time we sold it. Leaving us with a ton of equity

[wceizuk]

I am "wasting" my money traveling. My bucket list. I will always have my memories of the places I've been and the things I have done and the people I have met.

[jballs]

Warren also said that if you buy one vehicle and take care of it your whole life without buying another one, that is also a good way to manage your spending.

[thomasbuck]

No matter how much money you make you can't take it with you

[lindastone]

Poor people don't have the money to waste on this stuff. There's a difference in being poor and being broke. Broke people do those things. Poor people can't.

[SteveDaniel]

Watched the whole video great job my portfolio is diverse, with investment in digital currencies, gold silver, but not as much as I want.would like to add a lot of low cap altcoins too, just not sure how to go about it or where to buy the coins. Diversifying my $420k portfolio across the market to withstand inflation is my goal can you help me?

[matthewmassoudelhami]

All agree apart from not buying a place to live. you should consider that residential places are hugely getting more expensive and more. Hence buying a place to live is of great importance