Once You Get Rich You Will Make These 15 Mistakes

15 Mistakes You Make Once You Get RICH

Purchase shares in great masterpieces from artists like Pablo Picasso, Banksy, Andy Warhol, and more.

What mistakes do rich people make?
What mistakes can make you broke if you're rich?
What are the most dangerous mistakes if you're rich?
What should you pay attention to when you're rich?
What investment mistakes can ruin you?
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00:00 - Intro
00:35 - You overestimate yourself
01:31 - Losing track
of your spending
02:46 - Spending money that’s supposed to come in soon
03:26 - Losing your hunger
04:09 - Being invested
in only 1 asset class
06:22 - Not being paranoid enough
07:13 - Jets, multiple cars, multiple homes and other comforts
09:01 - You get used to overpaying for everything
10:21 - Throwing money at every “opportunity” coming your way
11:47 - Not continuing to level up
13:35 - Failing to monitor and adjust course on your investments
14:58 - Not protecting
your reputation
15:21 - Playing catch up with
your even richer friends
16:11 - Making decisions based
on other people’s decisions without thinking for yourself
17:12 - Inability to relate to people struggling with the basics
18:31 - Bonus

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[alux]

Hello Aluxers, have you seen anyone rich make any of these mistakes?

[stephmeldrich]

Prevent debt. Save money. Develop beneficial routines, such as consistently setting aside money at regular intervals for investments. Building wealth is a state of mind. Work on that and your financial potentials become exponential.There are several ways to make money on the stock market. With the aid of my financial advisor, I was able to earn my first million dollars by trading stocks; it has been a year of consistent progress.

[donaldjack]

Putting well-earned money into the stock market can be over emphasize for first time investors, unlike a bank where interest is sure thing! Well, basically time are uncertain, the market is out of control, and banks are gradually failing. I'm working on a ballpark estimate of $5m for retirement, and I've a good 6 figure loaded up for this, could there be any opportunity a boomer like me?

[watsonkashala]

00:00 - Intro
00:35 - You overestimate yourself
01:31 - Losing track
of your spending
02:46 - Spending money that’s supposed to come in soon
03:26 - Losing your hunger
04:09 - Being invested
in only 1 asset class
06:22 - Not being paranoid enough
07:13 - Jets, multiple cars, multiple homes and other comforts
09:01 - You get used to overpaying for everything
10:21 - Throwing money at every “opportunity” coming your way
11:47 - Not continuing to level up
13:35 - Failing to monitor and adjust course on your investments
14:58 - Not protecting
your reputation
15:21 - Playing catch up with
your even richer friends
16:11 - Making decisions based
on other people’s decisions without thinking for yourself
17:12 - Inability to relate to people struggling with the basics
18:31 - Bonus

[Charlesragnick]

Throwing money at every opportunity had to be on the list, I've been a victim once and I'm happy I got in touch with a financial expert that has been helping me out. He's very experienced and his strategies are very unique...

[taylorgreen]

I’m saving and investing around 70 percent of my income in the financial market(high yield etfs, stocks etc) pretty much how I made my first million although with an FA. I have a high paying engineering job, and I live upstate NYC. my expenses are low. I have zero debt, low rent and car truck paid off. So i can just save. feel lucky at this point I'm actually grateful for my advisor handling my portfolio.

[chloewinfrey]

Mistakes have made myself: Losing track
of your spending, Spending money that’s supposed to come in soon, You get used to overpaying for everything, Throwing money at every “opportunity” coming your way, Making decisions based
on other people’s decisions without thinking for yourself and Inability to relate to people struggling with the basics 😅😅😅😅 I learned the hard way....

[BrianJOlds]

Ego is also the underlying cause for several of these as well 😂

[josephregallis]

Years ago I was an independent stock trader who was doing pretty well and I remember when I was getting ready to buy a expensive sports car and my aunt wanted me to pay off my mortgage instead. I did not pay off the mortgage and then the market turned down in 2000 and I lost $100, 000! I could have paid off the house and did not get the car either! Now, I am much more conservative trying to pay off all debt while investing 15% of my retirement income.

[luisaspiller]

Once again an excellent, informative video. Great job Alux! Information that is very useful and insightful. The tip to not lose sight of other people realities hit home. It is easy to do and I have been guilty of it as well unfortunately.

[garysimpson]

The BONUS is something I have been thinking about for a while now. It's not just picking people. It is also helping those people to develop and accepting that they might eventually move on.

[ozemsadventureofrandomstuf]

Alux has been pushing us and motivating us to do better and improve forever! Thanks Alux 😮

[TopBlackOwned]

Bonus! The sections that resonated most were losing track of spending, leveling (or rather unleveling) comforts and how as you gain wealth your perspective changes. Unfortunately, that mental transition can break you quicker than before you had the money you had. The Bonus section was perfect, but lots of founders have a hard time transitioning from having a job to running a company. I've seen it happen first hand. Great food for thought.

[somerandomfella]

Dear Alux, as a car enthusiast, cars aren't always bad investments. Toyota GR Yaris, Porsche GT3, Nissan GTR 32, 33 & 34, Honda NSX, Mazda RX7 FD, 59 Mustang & certain Ferrari models plus many more have all increased considerably..

[abundancemindset]

You gotta have a reliable team behind you, invest wisely and live within your means.

[pinitkanokvechayant]

Please more content on billionaires please Alux

[artcastro]

How much is the initial investment for Masterworks?

[RealityTrailers]

I buy low premium silver and gold, like 5 and 10 oz. silver bars, one oz gold bars and silver rounds. Using these for very loan interest rate loans with the right businesses who offer precious metals colladeral loans is smart. Not only are your metals safe with the right loan business but you can also get your metals back after you pay off your loan.

[fburch]

Awesome content! We have to be conscious of our spending, even if we have millions $$$💰

[folorunso]

BONUS. I actually knew this before, learned it from Michael Gerber. But hearing it again is re-affirming. Well done guys, great content today 💯