(upbeat music) – [Narrator] This is "The
Rich Dad Radio Show." The good news and bad news about money. Here's Robert Kiyosaki. – Hello, hello, hello, Robert Kiyosaki, "The Rich Dad Radio Show." The good news and bad
news about this here. This is cash, and this trash. So today we're going to be
talking about the hottest subject on the market today, and it's not real estate, what it is here is this is gold, and this is silver, and of course there's Bitcoin.
So those are the three things. And the reason they're the
hottest subjects on the earth right now is because our money is fake. So this is one of my
favorite books here, "Fake." I'll tell you a quick story
before we get into why gold, silver, and Bitcoin is,
that I was at Safeway, and I'm kind of a guru at
the salad counter at Safeway.
All the women were coming up to me going, "Hey,
what should we invest in? What should we invest in?" And I just happened to be
having in my pocket here, this is a pre '64 US quarter, and it's given to you by
my friend, Dana Samuelson, he's in Austin, Texas. He is American Gold
Exchange in Austin, Texas. Dana Samuelson. So he knows I'm a silver nut. So this is a pre '64, and
pre '64 means it's silver. After '64, it became fake money. It became this here. So I held this up here to the ladies, they want the hottest tip,
and I said, "Buy this here." They went, "Oh!" A quarter? I can afford a quarter." I said, "Yeah, but I'll
charge you $3 for it." And you should have seen their brains, the salad was flying all over the place. (all laughing) (Robert speaking gibberish) I said, "Okay, I'll tell you what, $2." (Robert yelling) They were screaming,
not screaming, but just, "Why would I pay you $2 for a quarter?" And I said, "But this is pre '64." They just could not figure it out.
Now, that's the lesson of today, is that people don't know
that our money is fake. And that's why Rich Dad
exists and all this. But the sad thing about it is, is that AARP turned on my article because I wrote a story of
my mother, I used to save real quarters, cause when
I was 17 years old, in '64, I saw the quarter go to copper.
It was fake. It was an alloy. So I started collecting
dimes and then quarters and half dollars. I had this big bag of real silver. And my mother says, "What are you doing?" I said, "This is real money." So this is, '64, '65, I
go to school in New York. '66, I come home, my mother spent it all. (all laughing) And so I wrote the story for
AARP, they turned it down. I said, "The lesson is
poor people are poor cause they don't know fake money." They don't know the
difference between real money and fake money. So this is a very important lesson here. I have some two friends here from years, and like I said, Dana Samuelson
of American Gold Exchange in Austin, Texas. This is a special category of silver.
It's called numismatic. And numismatic means
collectible and antique. And the reason I respect
Dana is because he was head of the American Numismatics. So I don't buy numismatic, I
don't buy collectible coins, I buy real gold, silver. But if I want numismatic,
like an antique Dodge or something, whatever it is,
if I want an antique coin, I see Dana because there's
a lot of fakes out there. A lot of fake coins. So you got to be very careful today.
But like I said, this
is the hottest subject. I have two great friends here. So Jim, and this is Charles Goyette here. This is his book here, "Red
and Blue and Broke All Over." (men chuckling) So Jim, how long have you
been in this business of gold? – 50 Years. – 50 Years.
– Yeah. – Our time is coming
on this one, isn't it? – Well, I thought it was
coming in 1973 when I got in the business. And it was just a year
and a half or so after Nixon had removed the gold and we got everyone off the gold standard. – The dollar was backed by this here. This is real gold. So in '71, this was pulled out too, right? – [Jim] Right. – Because you just print
as much as you like. – Well it was no longer
backed by anything. It was a Federal Reserve
note, which is no more federal than Federal Express. And we were required
to take that as money, whether we liked it or not. – Right. Right. Another thing too, I
was in Vietnam in '70. '71, I was on my way
over, '72 I was there, and '73 I returned and I
bought my first gold coin.
It was a South African Krugerrand. And the Vietnamese woman, gold was $35 for years, and then in '71 it floated
to about 50, let's say. And so I thought, "Well,
I'll go talk to her." She was behind enemy lines, I
flew my helicopter in there, tried to negotiate with her. I said, "Look, I'll give you 40 of
these for one of these. And she's going, "Spot." I go, "Let me say it again. 40 of these. for one of these," she goes, "Spot." I said, "What the hell
is she talking about?" Well, she was saying spot that day was 50. And all of a sudden here, I'm
a college graduate, hopefully, with my other college graduate,
two pilots standing there going, "We don't know
shit about money, do we?" So spot meant that on
that day, it was 50 bucks.
And I thought because she
was behind enemy lines, I could get it for 40. No such deal. Gold is gold. Spot is spot. Silver is silver. This is real money. So Mr. Goyette, Charles,
why did you write this? Tell us something about your background, why did you write this book here? – Well, one thing is Jim and I
were in the business together a very long time ago that
he was talking about. But you just reminded me about spot. I remember seeing the
"National Geographic" special, this is back in the 70s,
and they went to these guys, these kind of third worlders
in the Amazon rainforest, way deep in the jungle, and these people didn't have any clothes, didn't have any electricity, but they were panning for gold there.
And the camera crew came up
and tried to buy their gold and they knew what the
London goldfish was that day. (all laughing) They totally knew what the
world price of gold was, spot price of gold,
cause it's international, it's all over the world, and it's a real price
for real money, isn't it? – Yeah, the sad thing about
it is I think Americans are the least to know about money. Because we have the Federal Reserve note. I'll tell you one last
story; I was in Peru, I bought a gold mine in Peru. There's no rain, there's just baron hills, mountains up in the Andes. And I see these little
holes up there, I go, "What the hell's that?" And my little Inca guide says, "We've been drilling gold
here for thousands of years, asshole." (all laughing) I said, "I'm not the first guy up here?" "No, you're not the first guy up here." "My great, great, great,
great, great, great grandfathers were yanking
the stuff out for years." And Bizarro came to Peru
and killed them all, took their gold.
– [Charles] Stole their gold. – And so that's why the
Spanish became the empire at the time. Someone from Spain, England, America, America's gone now. So that's what we're
here to talk about today. And we're old enough, the
three of us, to understand that this here is real and this here is fake. But most people would rather have this. This is the problem. – Robert, I saw one of those
YouTube videos where the guys on the boardwalk in Santa
Monica, it's kind of like jaywalking, like what's
the name of the moon? But he's walking around
with a chocolate bar and a silver coin, and he says to the people, he said, "Would you rather have
this chocolate bar," or I think it was a silver bar. – [Jim] A silver bar. It was Mark Dice.
– Yeah. And the people go, "Mm, I'll
take that chocolate bar." (all laughing) So they get a $2 chocolate bar, or a- – It was a 10 ounce silver
bar, it was about $300. And they'd rather have the chocolate bar than the silver bar.
– [Charles] They know no better, it's Jaywalking America. – And I'll say this again, it's the most important lesson: poor people don't know the
difference between real money and fake money.
And that is what it comes down to. So it was in '71, this used
to be a silver certificate, now it's a Federal Reserve IOU. It used to be backed by gold up to, no, this was '67, '64, excuse me, it was silver. And then in '71, Nixon
took the gold out of it. Johnson took this out of
the silver certificate. – Yeah, I remember I was
telling you that story the other night. I remember in 1964 where
we're sitting around the TV, Johnson came on and said,
"Silver has become too valuable to be used as money." And just as I'm sitting here, my dad said, "That son of a bitch.
They're going to take the silver out and they're going to leave
us this garbage coins." And he didn't really
understand it, but he got it. And from that point on,
he saved silver coins. He had about $8,000 worth by
the time he cashed them in in 1980. – Yeah. And I was in South Carolina
where I have a home, and this guy said that his
father ran the theater, and his father said, "There's
just yanking out all the silver coins." The lesson again, is poor
people don't know the difference between real money and fake money. And that's why in "Rich
Dad, Poor Dad" I said, "The rich don't work for
money because it's fake." So the reason I like to have
Jim here and Charles is because this stuff is getting
harder to find right now.
And I was panicking cause I
deal with a lot of guys who have gold and silver. So I called my friends up,
"We cannot get silver." I went, "What?" This is about what,
seven, eight months ago, we couldn't get silver. So you guys are Republic
Monetary Exchange. – [Jim] Yeah.
– Yeah. On Camelback. And I called these guys,
they said, "We got plenty." – Jim has been very,
very good over the years at making sure that the
inventories are high. He could see when these
runs are starting and stuff and the premiums are
starting to go up and stuff. And he's always put his clients first. He makes sure, we're going
to commit a lot of capital to make sure that our
clients can come in the door and get their gold and silver.
The worst thing in the world
is these companies that say, "Well, give us your money now and then we're going to deliver
your gold or we'll send you your silver in six months or something." Don't do that! Don't do that. So Jim's just really
created a name for himself in his ability to always
deliver to his clients. – Well I've always stayed ahead
of the curve, that you can anticipate needs after
50 years in the business. – Well, not everybody can,
because I was panicking, Okay, well step back.
You have the spot price. So let's say today the spot's 20 bucks. There's a premium on top of this coin, or this coin, should I say. What does the spot and the premium mean? – On that particular coin,
it's typically between $4 and $5 an ounce over the spot price. – So spot is the price
all across the world? – Right. And then all of the
products and coins and bars and so forth, they will
be priced accordingly based on the availability, the demand, the cost of refining and
putting them in the coins and shipping and distributor
markup, dealer markup, our markup and all that.
So there's always a premium that you pay to get the finished product. – That's like the tip at
the end of the dinner. (all laughing) – No, it's worse than that. – Yeah! I was watching Fox News
this morning, Fox Business, and they were bitching
about how, she went, where did she go? Oh, she went to the dry cleaners and she charged her, she
put it on a credit card for her dry cleaning; it said, tip 20%.
She goes, "Why do I have to
tip you for my dry cleaning?" (all laughing) People are so desperate to
money because this is fake. It's terrible. – Well, and because they can print it so much that the value
is dropping every day. They print up billions every day. Look at the bills that they
signed of, 1.7 trillion. Where's that money coming from? Well, they've got to print it. Or they've got to create something through a keystroke entry. That means all the rest of
those Federal Reserve notes out there become worth just
that much less everyday.
– Yeah, this is trash. So I'll say it again, the
difference between rich people and poor people; rich people
know the difference between this and this. And so the Republic Monetary Exchange, there's a lot of people out there. Dana Samuelson, my friend,
he's my expert in numismatic. And I was impressed because
you guys had inventory. My other friend, Jerry Williams was out. And I said, "What the
hell?" This is a while ago, "What the hell's going
on?" It was running.
So it must mean there's
something going on because people would rather have this than this now, except for
the ladies at Safeway. (Robert laughing) – But they know now.
(all laughing) – It fried their brains. "Why would I give you $2 for that?" And I said, "That's the
riddle of the day, ladies." We're laughing, we had a great time. But it fried their brains. Said, "What, what, what, what?" And I said, "I have a book here for you, It's called 'Fake.'"
(Robert laughing) And this whole system is fake right now. So we come back, we're going more into how people lie, cheat and steal because anytime there's money,
there's a liar and cheater and stealer around there. I've been saying this for
years, this is God's money. This is fake money.
I like Bitcoin. I call it people's money. Now I don't know much about Bitcoin, but I'm just glad I bought it at six. That's all I know right now. So when we come back with
going more how you can know real money from fake money. Some of the other advantages of right now. I've been saying this for
years, I used to work for Lear, I still have Lear Capital Ads, I said, "Buy silver." And the reason is
everybody can afford this. I think this is about 30 bucks. How much is this today? – Just under $30 for one of those, yeah. – Everybody in the world
can afford 30 bucks. But they'd rather have this.
And that's today's Rich Dad
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The Rich Dad Radio Show." The bad news about fake money.
And again, we're talking
about this stuff is fake and this is real money. We have friends, dear
friends, this is Jim Clark from Republic Monetary
here in Phoenix, Arizona. And Charles Goyette, here's
his book, "Red, White and Blue and Purple All Over." And we we're going broke. And so you guys have been
in the business for a while. I've been in the business
since '72 when I first bought my first gold coin. I still have that gold coin. – [Jim] Wow.
– It's not stored in America though, it's
stored someplace else. – [Charles] Where is that? Oh, you don't have to tell. – I'm going to open my
blabber mouth on TV. (all laughing) That's like my attorney
stands in front of this crowd, he says, "Yeah, I have a lot
of gold, I keep it at home." I said, "Why don't you just
tell everybody where to go? Why not just give them your address too." (all laughing) Attorney's aren't the
brightest guys on earth.
(all laughing) – Well I have strangers that will ask me, "Now, where should I store this?" I said, "I don't know and I don't care." – [Charles] And don't tell me.
– Well don't tell me. So the FBI come, "Did you know?" So Jim, tell us about
what you have right here. You have silver and you have gold. – So I have the kilogram of
silver, which is 32.15 ounces, and then I have a 10 ounce gold bar. And of course, when you
see something that big, how do I know that's real? So we have a device, it's a spectrometer, that we can put, that X-rays the bar. And I've got it all set up. So what I'm going to do
is I'm going to point the device at the silver and I'm going to get a reading. Put it on there maybe
four or five seconds.
It will read right into the bar. It'll come back. And if you can pick that up, right on the screen it says
AG, which is the chemical sign for silver, 99.99% pure. You know that this bar is absolute. We can do the same thing with- – Is there such a thing as fake silver? (crosstalk) Not too long ago, they caught some. – There were some companies
years ago that were making the silver and gold and it
wasn't coming out exactly pure. And what happens then is if
we find that, we just throw it in the melting pot and
then bring it up to pure. Cause you don't want to sell
a bar that's 94%, 95% pure. So it's out there, which
is why we spent $20,000 on this piece of equipment that we can find a counterfeit bar.
If it's not pure gold, we know right then, and this is paid for
itself many times over. Because so many times
somebody will come in and say, "Well hey, I've got this big block of gold and I want to sell it." Okay, let's have a look at it. You go through it, it's pyrite, or it's copper, or it's zinc. – Jim Recer was telling
us, in the New York Bank, he says they found some fake silver. – The bigger the bar, the
better chance that there is. So I'm going to do the
same thing with this gold. Because that's really the valuable. With a $20,000 piece of
metal, you want to make sure that it's what it's supposed to be. Same thing. We come up, AU, gold. 99.99% pure. Which is exactly what it's supposed to be. – So this is January, 2023. What would this cost me, if
I walked into your place, Republic Monetary
Exchange on Camelback Road in Phoenix, Arizona, What would that cost me? – Just over $900 for that. – For that?
– My God. And how much is this thing here? – That's going to be
around 2,000, over 2,000, 2,050 or more. – This is 2,000, this
is a gold, what is it? – Eagle. American Gold Eagle.
– American Gold Eagle. And that's 900? – Right, that's a kilogram of over. This is going to be close to
$20,000 for this gold bar. – What is that now? – 10 ounces of gold. – [Charles] That feels like
real money doesn't in, Robert? – Can I trade you this for this? (all laughing) – Go get 20,000 more of
those and we'll do it. (all laughing) – You're a little light. (all laughing) – Actually, on that subject,
we were talking about this the other night, Robert,
about cash for gold. I'm one of the few people
who absolutely despise cash for buying gold, and
you'd think just the opposite, that I couldn't wait to get cash. But banks don't want it. Try and deposit $20,000
or $50,000 in cash.
They'll turn you away and
say, "Well, we got to do this, that and the other, and
we've got to file this form and we got to do that." Hey, I would rather have a
bank wire than cash anytime. – Jim's story really
illustrates something with- – Wait. He doesn't want cash. And I thought the reason is
because it might be dirty or it's hot money or whatever it is. It's just a pain in the butt. – Well, it's that, but you know what else? I'm thinking down the road, let's say I acquire $1
million or $2 million in cash that the banks don't want to take.
When this currency is repudiated,
I'm going to be stuck. Just like the people in Germany were twice in the 20th century that they were hauling wheel borrows full of Deutschmarks for a basket of groceries. – Fake money and brought Hitler to power. The the Weimar Republic and
the Reichsmark and all this. Every time there's fake
money, tyrants rise up. Because people know something is wrong. – Yep.
So here we go in this country. – [Robert] Right. – But Jim's attitude now
about cash really illustrates that the government, the
deep state, has won this war without legislation,
without public debate, they have won the war against cash. They've been at war at cash
because it's anonymous, they don't track you,
they can't follow you when you use cash, and
they've won the war. And so, the only alternative
people have to be off the grid, not to be tracked, not to be surveilled, gold and silver. That's it. That's all. – So once again, this is 1964. 1964, I was 17 years old and I
started looking at that thing like this. It was copper. The Romans did the same thing way back in at the end of their empire. So what were they doing when
they put copper in this thing? It's a law called Gresham's Law. What does Gresham's Law mean? – Bad money drives good
money out of circulation.
– So this money went into hiding. So I had bags of it. They said, "Go caddy, take my dollars, go to the
bank and pull out all the real stuff and hide the real stuff." I didn't know what I was
doing. I was 17 years old. Wasn't the brightest kid on the block. But I just knew this was fake. This was fake now. And then I come back
from school a year later, my mother spent it. That was a powerful lesson. AARP turned it down, they said,
"You're cruel to your mom." And I said, "Okay." Anyway, poor people don't
know real money from fake money.
So that's why we have Sara here. So what happened in '71, this became debt. So our company, at Rich Dad,
we encourage people to use debt. This is my other friend here. He's a financial planner who
doesn't recommend the 401k. John McGregor's, this is "The Top 10 Reasons
Why the Rich Go Broke." One of the reasons they go
broke is they have a plan for their money, but they
have no idea what money is. – Well, and I've talked
to people all the time that are multimillionaires,
they sold their business, they did this, that and the other and came into all this cash
that's sitting in the bank and said, "Well, you think
I should buy some gold with some of this?" I said, "Well, you know what they're
doing with the dollar, you know that they keep printing them, they can't print gold.
Now you tell me how much
you can afford to lose of all that money sitting
in the bank, and I would say leave that there and get
the rest of it in gold." It's a bigger risk having paper money. It's depreciating.
– It's a guaranteed loss. – And eventually, these
are going to be worthless. And we're in the 51st year of
fiat money when Nixon closed the gold window. A currency has never lasted
more than 50 years until now. And we're in year 51. How are we any different than
anywhere else in the world? – That's '71- – To 2023.
How are we any different? Look what they've done in Venezuela. They were one of the richest
countries in South America, in actually, the Western hemisphere. Look what they've done to Argentina. Look what they've done in Cuba. Look what they've done in Mexico. Same exact economic principles
that they broke there, we're doing the same things here. – Somebody asked me once, "Charles, how many paper
currencies have gone broke, have gone worthless over time?" And the answer is all of them.
– [Robert] All of them.
And the ones that people still
hold are only on their way. They just haven't arrived at
their final destination yet. – It's like I said, I'm 17
years old in 1964 going, "Something's wrong here." That's Gresham's Law. And I think that's one of the
reasons I'm a rich person, is I know real from fake. And then, so when Nixon
took the dollar off the gold standard in '71, I didn't
really know what that meant. But the first course, I
was in Vietnam in '73, I came back, '74, they made this legal. Remember that? It was illegal. So I had to smuggle
that, I was in Hong Kong, I had to buy my South African
Krugerrand in Hong Kong. I had to smuggle it into the country. Why was that? – It was in '74?
– Yeah, because it was illegal
to own in bullion form. – Well, in '73 I brought it in. – It was a felony. It was a felony. They could put you in prison
for 10 years and charge you $10,000 fine. They made it a felony for
Americans, free people, to own monetary gold and silver. Or gold anyway. It was a felony. Was it dangerous? Was it going to blow up? Was
it nuclear contamination? Was it going to kill your
neighbors with poison? What was wrong? Well, it was of course,
you know the answer, it's always the same
answer, the government grabs all the gold cause it wants it for itself, so you can't be allowed to have any. It's exactly what they did.
– At that time there were
two very good senators, Steve Sims and Jesse Helms, who introduced the idea of
Americans owning gold because foreigners could own gold
and Americans couldn't. And if there's anything to be
said good about Gerald Ford, it was that he signed the
bill after it passed through both houses to make gold legal to own.
Now unfortunately, at the
time, gold was around $200 an ounce, and over the
next year and a half or so, it dropped to 100. So a lot of the curiosity
of owning gold disappeared. But fast forward to the Jimmy Carter days, 1976, gold went to 100. And by the end of
Carter's term it was 850. And silver went from about
$3 an ounce to $50 an ounce in that four year period. – So during Carter's trend, this was 850? What is this today? – 2,050.
– So why would you save this trash? (Charles laughing) That's what I'm saying here. – It's fake. How about that to sum it up? That's fake. – [Jim] It's a trick. – Another thing I want to
say, cause I'm a history buff, it's about the only subject
I did well in school, the reason he doesn't like the 401k is in 1974 when Ford put us
back on, we could own gold, they put us on the 401k. (indistinct) And today, this is the biggest
reason you want to own gold. Because our pensions, as they
keep raising interest rates, our 401ks are going down. But not only this, my book
wrote with the Ed Siedel, is our pensions are broke. So as the firefighters, police
officers, school teachers, their pensions are gone. So the fed's going to have to print. That's my whole summation. – Well, and what's crazy
about it too is that you get your statement online
every month and it says, "Oh my god, look, I have
$500,000 in my pension plan. Boy, that's going to last
me till the year 2050." It's not going to.
The dollar's not going to
be there, first of all, and the pensions are gone too. But gold will be there forever. – This will be here. This is God's money. We used this as money
for about 5,000 years. But God put it here on the
earth, and that's when I was in the Andes with my old Inca friend, I said, "Geez, look at those holes." He says, "Yeah, we've been
digging longer than you have." And I was in Mongolia, same
thing, there's a place called the Checker Board. They call it the Checker
Board because the Mongolians, this is thousands of years
ago, were digging for gold. Now they didn't have internet,
they didn't have iPhones and all this stuff. Humans intuitively knew to look for gold. That's what blew me away. – Well, and when you think about- – Except for the women at Safeway. They don't know gold from silver. – [Charles] They need a salad bar guru. (Robert laughing) – When you read the stories
about all the Spanish ships that have sunk over the years
coming across the Atlantic, and the explorers go down there, they're not going down there
looking for the currency of the realm of the day and
see if the paper survived; they're going down there
looking for the gold, they're going down there
looking for the silver.
And they find it. And what's amazing is
that if this bar had been in the bottom of the ocean for 500 years, it'll still be in this pristine condition. It doesn't rust. It doesn't erode. It will do the same thing
now 500 years later. And they've brought some
amazing coins that have been in the Spanish ships that
were in pristine condition, that have graded out
un-circulated, like it was the day that it came out of the mint. – What's that joke? Who's the guy in the fed? – [Charles] Ron Paul.
– Ron Paul, he said if a Spanish ship went down with gold, another ship went down with dollars, people would stop diving for dollars.
(all laughing) They still dive for gold. It's kind of a funny thing, but it's sad. But another thing too is I had a pile of extra
silver I bought from you, and I was handing them
on his Christmas gifts. It's $30 let's say. And one woman had four kids. I said, "Give each one of
your children one of them." One silver coin. I said, "It'll there when they
graduate from high school." "No, they'll probably have spend it." I said, "Yeah, they probably will." But that's the problem. I save this. I say in "Rich Dad, Poor
Dad," savers are losers because they save this. If you save this, and if you save this, what is this here? – $30. – Yeah, well what? – Silver, it's a silver round.
Just a generic silver one ounce piece. – It's a buffalo.
– Yeah. I'll call up Jim and
say, "I want buffalos." So he knows what I'm talking about. There's different goofy
kind of coins out there. But I'd rather save this
cause this will be here 10,000 years from now. This won't. You can pass it on from
generation to generation to generation. – I'll be surprised if that
paper dollar is here even 10 years from now. – I doubt it. Yeah. So anyway, we're in very
serious, serious trouble here. And this is the hottest subject going. For years, I've been saying buy silver because everybody can afford silver. When I offer them this
for $3, they went nuts. They went, "Why would I buy that?" Because they'd rather have this. That's the lesson. Final words there, Mr.
Jim. – Well, we sure appreciate
all you do for the freedom movement, Robert. And speaking about gold and
speaking about the fake money that we're passing around, it's a great lesson
for the next generation whether we realize it or not. At our age, and doing all
this for 50 years or more, we've got a great legacy to
pass on to the next generation because they just don't know.
And you are a patriot in the
true sense of the word, sir. Thank you for having us. – Thank you. – Robert, let me ditto that
too, because we're in for some really rough sledding in this country. There's some rough patch of road ahead and it didn't have to happen and
now it's going to happen. And as bad as it's going to be
for the people who understand the lessons that you've been
doing in your educational efforts and teaching them about money, the ones that take action
based on those kinds of recommendations and that
learn about this stuff, they will be so much better off. And the more of them there are
the better off we'll all be because maybe we can have
some kind of commerce still continue when the whole
thing goes topsy-turvy.
So thank you, Robert. – How many of the layoffs
are just starting right now? This is January 2023. – 10,000 at a crack by these companies. 10,000 here, 10,000 there. – [Robert] Because
they're working for this. – Yeah, and this is horrible stuff. These are people that are
living paycheck to paycheck like we've never seen before,
and their personal debt has never been so high as it is right now. – It's a disaster. – And there's now called
the working homeless. They have jobs but they
can't afford to live. – [Charles] Sleeping in their cars. – Yeah. That's because this is fake.
– [Charles] Yep. – Well we have a lot more
information on our website by the way, Robert. – The reason I invited you guys
cause you actually do teach. If you were just promoting your company, you wouldn't be here. So what is a book you have
and what is your website? – Okay, the website is RMEGold.com. – Dot what? Com? – .com, and then my- – I thought you said .gov, I was going, I didn't know you were a fed. (all laughing) – And my book is "Real
Money for Free People, the American Gold Story." – In fact, people that are in
the Phoenix area can stop by, Jim will sign a copy of the
book and give it to him.
But his book is a really good book. And there's a ton of
information on the website too to bring people up to
speed, to learn the lessons that you teach, like
the lessons about fake. And we have a new post
going up, for example, about your book, about pensions. – [Robert] Oh, thank you.
– Cause it's so important right now, especially now the
Congressional Budget Office just announced that Social
Security's finished at 2033. – Yeah. And the reason I wrote this
book was because in '74, that's why McGregor wrote this book here. That was a 401k. But that's when the pension
started getting looted. And now our generation,
the Boomer generation's in serious trouble for retirement. Cause I don't think
it's going to be there. – The American people lost
26% in their 401ks in the last year, through October, so it's very grim. – And that doesn't even
take into consideration the depreciating dollar to go with it too. – So, okay, watch's your website again? – RMEGold.com. – RME.
And then your book here is, Charles Goyette, Red, Blue. – "Red and Blue and Broke All Over: Restoring America's Free Economy." – You're an optimist, aren't you? – My publisher said, "Write
that book about how to put it back together, I said,
"You know they're not going to do that." And they're not, but it's there anyway. – They're going to keep
printing this because this gets more valuable. – We're beyond the point of no return. – [Charles] Yeah. – The sad thing about it is,
as the price of gold goes up, everybody else gets poorer. That's what breaks my heart. I love those girls at Safeway
serving me their salad and coleslaw and all this. It just blew their mind, they said, "$2 for this?" But that's what America
has sold the world there.
That this is valuable and this is fake. This is real. This is fake. – I'll give you $2 for
it, Robert, right now. – I know you would, that's
why I'm keeping it tight here. Here's my silver; the Lone
Ranger had the silver bullet, this is my silver bullet
from Dana Samuelson. Bite the bullet. (all laughing) So thank you, gentlemen.
Thanks for being teachers. And they have inventory. When things were really tough
I was scrambling because- – We were never without anything. – I'll tell you why I was panicking, if I waited a few more
days, the price would go up. And then when I ran in
there and then you guys, not you guys, but my other friend couldn't deliver me silver, I went.
And I said, "What am I going to do?" So I bought it that day
anyway for future delivery. So it was a gamble, so
basically a future delivery. – [Charles] Right. Yeah. – [Jim] it sounds like you did all right. – Yeah. Two last things: there's a thing called distribution and accumulation. Price of gold and silver is low, and silver and gold and
oil, I'm accumulating. I've been accumulating since '72. I own more gold than most people. Most of the gurus on TV. I own gold mines, silver mines because I believe in this stuff,
cause this is God's money. This is fake money. Thank you, gentlemen.
– [Jim] Thank you, sir. – [Charles] Thank you Robert.
– Pleasure to be here. – And when we come back, Sara
be back with a final word here.
So thank you, gentlemen. (upbeat music) Welcome back, Robert Kiyosaki,
"The Rich Dad Radio Show." Thanks to Jim Clark, the
Republic Monetary Exchange, RME, and Charles Goyette of
Republic Monetary Exchange. Because this is the hottest
subject of all today. It's silver and gold because this is fake. So Sara, if you have friends and
family who are still hoarding this stuff here, haven't
listened to this program and discuss it with them,
because I'm now called the Salad Bar Guru. (all laughing) I thought it was hysterical,
but it fried their brains. What's the difference
between this and this? One's fake, one's real. So Sara, what questions do you have? – [Sara] Yeah, well,
just wanted to mention, my brother for my niece,
she's 11, he said, "No more presents.
From now on we only want
you to get her silver." So every year, each sibling
gets her some silver coins. And I was like, "Man, he's so smart." Anyway, I just wanted to
point that straight out. But my questions to you
are, can you briefly discuss the different markings? What does that identify on the bars? – Okay, so this has the size of the bar, which is one kilogram.
Valcambi is one of the
worldwide known refiners of silver. It has their logo on it. It's been stamped with the serial number and the finest of 3.999 fine silver. The gold, a little different. It lists the number of ounces and this is four nines fine. Also with the serial number. And as you saw earlier, we
put the spectrometer to it to show that indeed, both of those are pure silver and pure gold. And if there's any doubt with anybody buying silver
and gold, is it real? We can put the spectrometer to it and show that it is exactly
what the purity should be.
– [Sara] Awesome. The second question I have
is, Robert had held up his buffalo and you called it
a generic one ounce coin. What's the diff? – So the US Treasury
and various governments around the world, Canada, South Africa, make a coin of the realm,
meaning an American Eagle for the United States. So the treasury makes that coin. The premium is significantly
higher for that than it is for this, but it's
exactly the same properties, same weight, same size and everything. – Wait a sec, so if
this was a Silver Eagle, but this is, I call this a buff, what's the price difference? – It's going to be $6, $7 and ounce more to have the name brand,
but silver's silver. So it depends if you, "Well,
I only buy a name brand, I won't buy Costco brand of
something, but I will buy the real ones that you hear
on television all the time," even though it's exactly the same thing.
So you get more silver for
fewer dollars if you buy it in the buffalos or what we call generic. But recognized as being
a coin of the realm and something that you can be
sure that it's the purity that it's supposed to be. So reputable private,
refineries make the buffalo, the US Treasury makes the
American Silver Eagle. – Why would somebody pay the difference? – Why do they? – No, I mean-
– [Sara] Why do they buy- – Money's is no object
and they don't mind paying $6 an ounce more, and it's
a US Treasury stamped coin. But you get more when you sell it too. – I bought considerable amounts from Dana in Austin, Texas, and he traded out my Gold
Eagles for regular gold. And I said, "Why?" He goes, "I don't know,"
but he says, "You just made a lot of money." So instead of having 10
ounces of gold, I now had 15 ounces of gold.
But just because one from
Eagles to something else. All I want is the ounce of gold. And as long as it's pure,
I don't really care. But some people do, right? – Yeah. And either one of those,
it's all recognized for them. So it's personal preference at that point. – [Sara] That was a big
question, cause Robert, if you remember back in
October, the team made a big silver buy, and
that was a big question, when we got the price sheet, we were like, "Why would we pay, if it's
the exact same thing," but that makes sense.
Just a name brand difference. – This is when we couldn't take delivery, we're buying a lot, so we
bought it from Andy Schectman. It was a lot of silver and gold we bought. – [Sara] The last question is, in the beginning of the
conversation we had talked about why you didn't want to
take cash, and you said it's a hassle. Is it also true because cash is devaluing so fast,
it's not really a fair trade. I mean, not fair, but
you know, even trade? Do you feel that way at all? – Well, it's cumbersome. And banks typically
don't want to take cash, and ironically, they don't
want to give cash out either. So we've had situations,
people wanted to go withdraw $100,000 in cash
at the bank, they'll say, "Come back in three or four
days and we'll accumulate it for you, but we don't have it here." I say don't even do that.
wire the money over to us. It's just boom, boom, boom. Simple, we don't have to worry
about any counterfeit cash, although our machines pick it up anyway. It's a cumbersome thing
to do, but I look at the big picture; some point down the road, this cash is going to be worthless. And if the banks don't want
to take it in deposits, I don't want to be stuck
with $2 million or $3 million in cash and lose that. I would rather have money in the bank. Not money, but I mean fake
money in the bank that I can buy real silver and gold with
and have that on the shelf rather than cash sitting there
that is devaluing every day.
– [Sara] Yep. Good. Great. That was it. – Final word, Mr. Goyette. – Hey, thanks for having
us on again, Robert. – And this is your book here. Got to plug the book. – One of one of several. And it's about "Red and
Blue and Broke All Over" and how the country is broke all over and the exact story you've been
trying to explain to people for a very long time, and now here we are. – Another thing we do, Sara, is I send out a newsletter every week, my blog basically, that gives a synopsis of
what's going on the past week and maybe what we're seeing down the road. And just keeping clients and prospects informed of
how we see the market. And whether I'm smart or
not, it doesn't matter, I've been at this 50 years,
I've got a lot of experience and I can share a lot of information that I've acquired over the years.
And I encourage people to go
to our website RMEGold.com, and you can sign up for the newsletter. There's no charge, we email
it out every Sunday afternoon or Monday morning, whenever we
put the finishing touches on. And I would encourage
people to sign up for that at RMEGold.com – And that's why we
invited Charles and Jim, because they are educators like Rich Dad. I buy, I don't sell this stuff. (Robert chuckling) I do trade occasionally. But anyway, so thank
you very much, gentlemen and thank you all for
listening to "The Rich Dad Radio Show," and remember, this is fake and this is real. How much is this today? – That's about $5, so
you were really cheap when you were saying $2 or $3. – Oh my god! I was going to get taken. The salad bar ladies
were going to take me. (all laughing)
– [Sara] That's why he said, "I'll give you $3 for it." – They were trying to cheat
me at Safeway.
My god. – You're behind the times, Robert. You forgot how quick
this dollar is devaluing. – And they're raising
the price of the coleslaw on top of that. (all laughing) So thank you, gentlemen. – [Jim] Thank you.
– [Charles] Thank you. (upbeat music).
How can I replace $70,000 a year in annual income with rental properties that is the subject of today’s video hi everyone I’m Clayton Morris the president of Morris invest let’s dive into it so how do we replace seventy thousand dollars a year in annual income with passive income with rental property income from tenants every month providing cash flow from the properties that we own you might think that that sounds like a tall order but it’s not and I’m going to show you how simple it can be to actually replace that annual income you know a little story about me that’s in fact how I got started I was frustrated sitting down with my wife one night I said we were frustrated with our bills and I said how come at the end of the month where we still have more bills to pay and we don’t have enough paycheck to cover it aren’t we doing well what are we doing wrong the problem was that we weren’t putting the money to work for us to start creating cash flow in our lives and creating passive income so I put together and it was really the foundation of my freedom cheat sheet it’s the number that changed everything for me by the way that link you can download a free pdf it’s like three pages long sit down with your husband or wife and go through it totally free the link is right below this video and it’ll walk you through step by step with some numbers and figures on exactly how to figure out how many houses it will take for you to recover that annual income but I want to tackle the $70,000 question specifically most of the houses that I buy and that my company rehabs and sells are in that forty to forty five thousand dollar range okay single family homes two bedroom one bath three bedroom one bath and some duplexes okay duplexes or you know door on each side typically and two bedrooms on each side or three bedrooms on each side those are the types of properties that I buy now I buy them low and I fix them up and I place a great tenant in the property each of those properties will cashflow about $700 let’s just say for round number $700 okay now think about how much is $70,000 a year how much are you probably making per week well let’s bring out the calculator so $70,000 a year let’s divide that by 52 weeks that’s about thirteen hundred and forty six dollars a week that you are earning from your paycheck okay thirteen hundred and forty six dollars a week so now let’s figure out how many houses it would take us to replace seventy thousand dollars a year in passive income seventy thousand dollars right it’s a simple formula if each of our houses is bringing in seven hundred dollars a month that’s a simple formula right seven hundred times 12 gives us $8,400 okay now let’s take that 70 thousand dollars and let’s divide it by eighty four hundred that’s eight houses that is eight point three properties eight houses bringing in seven hundred dollars a month now imagine if you’re buying a forty thousand dollar house if you had to bring a little bit of money to put down as a down payment or deposit you were able to reach out and get private financing or seller financing on a property then you’re able to accrue these properties very quickly now some of the things I didn’t talk about in this video and I can dive a little deeper now that we always want to take out money for for vacancy and repairs on our numbers right so that eighty four hundred dollars a year let’s multiply that now times point six so we’re gonna remove forty percent for vacancy repairs and expenses this is just to be totally conservative with your numbers so let’s take that eighty four hundred dollars and let’s multiply that times point six so we’re bringing in about five thousand and forty dollars per property per year okay so now let’s take that five thousand and divide it by seventy thousand so this will be a totally conservative number but this will help us really make sure that we’re totally covered should something go wrong maybe we have a vacancy for a few weeks or a month or two in one of our properties this will take in that into account so seventy thousand dollars let’s divide that by five thousand forty that gives us thirteen point eight properties so let’s round that up fourteen properties fourteen properties would bring you about seventy thousand dollars a year in net income that would replace that $70,000 paycheck that you’re making every year then in other videos in this series I’m going to go through exactly how to find properties how to acquire properties but just for the sake of this video I wanted you to start to put your mind in a place where you can begin to reverse engineer that number for a lot of people you don’t think that you’re going to be able to create passive income or bring in that much cash every year hogwash I do it hundreds of thousands of other investors out there do it every day they do it exactly the way that I do it some buy residential properties some buy commercial properties it doesn’t matter it can be done that’s what I do I’m Clayton Morris
As found on YoutubeRead More
Do you recognize any person who takes the bus to function,
prepares their very own lunches, and also prevents costly vacations? Perhaps you have a next-door neighbor that resides in a.
little home, drives an old cars and truck, and also cuts their very own yard. We all know individuals such as this, and there might.
be individuals similar to this who have actually achieved stealth wide range! The majority of us most likely make judgments concerning others.
based upon their costs patterns and what they show up to have or not have. That'' s a blunder, since it disregards others.
around us that have actually deeply concealed wide range. Just what is stealth riches and also can this.
be something you should aim for? That'' s exactly what'we ' ll be reviewing right here! Continue enjoying to discover the benefits,.
indications, as well as tricks of stealth wide range that you may use to your own monetary life.Hello as well as welcome to Millionaires Mind. On this channel, you will certainly discover how to believe. like a millionaire.
The definition of stealth riches. What precisely is stealth riches?
It entails having a great deal of cash yet not. showing it out. It suggests keeping your( huge)
amount of cash hidden. from everyone, including your close friends and also household.
Individuals that do this do not always hide. their cash to deceive; they merely do disappoint it off and also do not really feel the need to go over. it. That ' s why it ' s hard
to differentiate the. “sneaky wealthy” from the rest people. The Benefits of” Stealth Wealth. Why would you select to apply stealth
wealth? There are several authentic benefits to hiding. your real total assets from the rest of the globe, that include: 1. Assisting your friendships. There are many factors why stealth riches may be helpful to
your connections. First, despite just how difficult you try, it might. be tough to sustain a connection when someone has much more wealth than the other.Those with stealth wealth successfully close. the( viewed )wide range gap by hiding their genuine wide range.
Buddies won ' t really feel pressured to stay on top of.
costly nights out or dinners they can ' t pay for, as well as you ' ll be able to stay with activities. that are within both of your spending plans. Cash can'hinder true partnerships. You may begin to wonder if a person is your. buddy as a result of your cash and what they can get from you. By removing your wealth from the photo,.
you can be certain that everybody you border on your own with is there for you, not your money.
2. Help you in living a more meeting life. Many wealthy people become stressed with costs insanely in order to show their.
Investing money on material things. Those who practice stealth riches invest their. Spending cash on what you want instead than.
Those that are monetarily protected are no much longer worried about money. Consider the tranquility of mind you ' d have if you. Signs of Stealth Wealth.
In spite of their
lot of money, those with stealth wide range commonly maintain a typical middle-class. way of life.
There are, however, some stealth riches signals. to search for if you desire to know if somebody is living a secret rich way of life. Despite these signs, it might be hard. to distinguish between stealth wealth and also typical riches! Some examples of stealth wide range indicators. are: 1. They put on ' t go over cash. Those with surprise riches hardly ever review money. They don ' t boast regarding just how much they have
,. as well as possibly a lot more tellingly, they put on ' t review what they put on ' t have. Somebody with stealth
riches will certainly never boast. concerning their earnings or assets. You will certainly never listen to individuals yawp. concerning being in financial debt or being not able to get anything they desire. 2. They put on ' t flaunt themselves on social media sites. The well-off do not flaunt their riches on.
social media.They wear ' t usually acquire products to flaunt. Also if they do decide to invest cash on a. fine meal or an elegant holiday, they put on ' t really feel obliged to tell the remainder of the globe. about it. They conserve such postings for individuals seeking.
interest as well as attempting to flaunt money they may not even have.
3. They look “average.” An additional indicator of concealed'riches is to not. look for a fancy sports
vehicle or giant estate. Those that understand the real significance of. stealth riches, appear typical when they reveal themselves. They drive “ordinary” lorries, job ordinary. work, and also seem much like the rest of us.They comprehend that owning an expensive vehicle. or property does not make you well-off; it
just makes you appear wealthy. You can use the sly wealthy ' s secrets in. your own life You can ' t just determine eventually to have stealth. riches.
It takes effort and also monetary planning, just.
like any type of other kind of riches. You may incorporate the keys of. the stealthy wealthy right into your very own life to enhance your funds today. Right here are some options- and
that knows, you. could decide along the line that you, as well, want to be “sneaky affluent” someday! 1. Steer clear of from lifestyle rising cost of living.
There are numerous means for even more money to. appear in your checking account. Perhaps you obtained a raise( congrats!).
Maybe you changed tasks and also received a great. pay “raise therefore. No issue exactly how you look at it, having more. cash ought to not suggest spending more of it.Those with covert wealth deliberately stay clear of. lifestyle inflation, which is specified as boosting your costs as your revenue rises.
While it may be alluring to invest more as. you make much more,
this is not the path to real treasures.
Those that comprehend the tricks of riches.
recognize that preventing way of living rising cost of living is just one of the most essential techniques to enhance. their properties as well as come to be economically safe.
We have a particular video clip on exactly how to prevent way of life. inflation on our channel. 2. Attempt not to stay on top of the Joneses. Even if a buddy or neighbor has a brand-new. toy( or car, or house,
or gadget) doesn ' t mean you have to have one as well. Attempting to stay on top of other individuals ' s expenses. will certainly harm your own finances. If you desire to prosper, concentrate.
on yourself instead than others. When you ' re lured to get something because. a person else has it, take a time to'consider whether
you actually want it. If you do, you could buy it.
Those with stealth riches do not totally. restriction themselves, yet they only buy what they really want and needs. They are not influenced or pressured by others,. neither are they interested in keeping looks.3. Live below your methods.
Another well-off individual ' s secret? Develop long-lasting riches. Those that are interested in stealth wealth.
They recognize the importance of collecting. generational wealth, implying wide range handed down from one generation to the
next.This implies they put on ' t waste money on fleeting. items or experiences. Rather, they focus on boosting their.
They spend on the supply market, develop services. Every little thing they do with their cash is done. In personal, be generous.
Those with stealth wide range do not hoard all. Many wealthy individuals are very charitable,. They do every little thing without making a public.
That ' s what stealth wealth style is all. about: a timeless wardrobe. Exercising stealth riches does not limit. you from acquiring attractive
items or splurging when in a while. Nevertheless, it does indicate that you invest with. function. You won ' t see people with this much money. putting on garments with showy brand labels.
Rather, they will pick high-grade products. that will certainly never ever go out of style.Stick to classic pieces that will sustain.
a life time if you want to comply with in their footsteps.
8. Stealth wealth is the conviction that fancy. things do not make life rewarding.
Finally, individuals that are really wealthy. acknowledge that material possessions and also extravagant holidays are not what make life beneficial. They may have begun their monetary journey.
by avoiding getting things they want in order to save or by passing up possibilities to. invest in items they desired.However, by the time they have fully embraced. stealth wide range, they no much longer really feel the demand to purchase these products. They ' ve found various other means to be pleased. That is one of the biggest advantages that. stealth money can offer.
You not just have monetary security
, yet. you ' ve likewise found out to prefer much less, worth what you have, and also accept on your own. So, the interpretation of stealth wealth is determined. more by what somebody does not have than by what they do have. It ' s a lifestyle that starts with carrying out.
several of the behaviors where we chatted around right into your very own life. Are you all set to employ several of these methods. to improve your personal finances currently that you ' ve discovered the response to the inquiry,. “what is stealth riches?'” Many thanks for watching this video. If you located this valuable, please LIKE and. SUBSCRIBE and also in the meanwhile, remain tuned to Millionaires Mind!
are you over the age of 50 with no plan in sight for your retirement don't worry there's still hope it's never too late to get started hey guys welcome back to the channel in today's video we're going to teach you some tips on how to plan for your retirement even if you are starting late in life first of all you need to know that retirement is freedom which means that when you retire you should be able to do whatever you want whether to travel to your favorite destinations spend more time with your family or work on your own projects so let me take you through the steps of your journey to financial freedom first step is to cut your expenses write down all your monthly expenses think of your main fundamental expenses as your running cost as if you're running a company things like rent builds groceries internet so you can watch more of our videos and car payment remember that you could always find cheaper alternatives for some of your main expenses for example you could always move to a cheaper house and save on your rent or if you have a rental car you could rent a cheaper car that also matches your needs the key here is not to minimize your quality of life but to minimize the amount you spend on that quality now write down the other expenses that you could survive without this might differ from one person to another it could be your netflix or amazon prime subscription or it could be the designer clothes that you usually buy these are the items that you could totally scratch from your expenses the more you cut the more you save and in the fifth step i'm going to tell you how we are going to use all this extra money to get you even more money always remember that it's not about how much you earn is what you keep you could be earning much more than others but you're also spending much more than they do keep monitoring your expenses you can do this through a simple written list or even through apps such as zoho expense or expense point second step is to set your expectations remember when we said in the beginning of our video that retirement is freedom well you need to think of your freedom figure which is basically the amount of money you expect per year after your retirement now multiply this number by 25 i'm sure you will get a crazy seven figure number this is going to be your goal i bet you're thinking now that it's impossible but please don't close the video yet because in the last two steps i'm going to show you how you can make this possible you need to lower your expectations for the time being in order to get those results in the future it's a match a fight if you will wealth versus cash flow set your own goals for now and for the future not based on what you see around you or on social media it doesn't have to be a 25 million dollar mansion in beverly hills a huge yacht and a supercar but that doesn't mean you shouldn't be enjoying your retirement it's about being realistic and aware of your situation what you can achieve in the future third step is to consider working longer now i know what you must be thinking i'm watching this video to know how to retire early but bear with me you may retire by the age of 60 or even 65.
But if you retire by the age of 70 you are increasing your social security check to nearly double plus there's also more money going into your 401k what's 401k oh you didn't know well i will explain this in the next step if you can't bear the thought of staying at your current job any longer than you need to then you should look into quitting your current job and finding another one something that you will enjoy more you you'll be surprised at the amount of companies that are currently looking for workers with experience be aware of your physical health keep up with your regular medical check-ups eat healthfully do any form of physical exercise could be something as small as taking a relaxing walk every day all this keeps you energetic so that you may continue working at the top of your game fourth step is to open an investment account this account could be funded by the money you save as a result of cutting expenses remember step one or you could open a 401k account if you don't already have one a 401k plan is a company sponsored retirement account where employers can contribute their income and employers usually match contributions up to a certain amount there are two basic types of 401ks traditionally and roth which differ primarily in how they're taxed with a traditional 401k employee contributions are pre-tax meaning they've reduced taxable income ban withdrawals are taxed during retirement employee contributions to rough 401ks are made with after tax income there's no tax deduction in the contribution year but withdrawals are tax-free so if you don't have a 401k yet what are you waiting for start one and make use of all this non-taxable income now it's time to invest your money which takes us to the last step the fifth and last step is to increase your income well you can always ask for a raise in your current job if the thought of asking for more pay sounds daunting then you can try looking for a new job with a better salary which may not be as challenging as you think there are many ways to promote your skills and experience to other companies you can upload your resume to sites such as indeed.com or linkedin.com let the companies come to you but there is an even easier way to increase your income through a side hustle one of the easiest ways to do so is through creating an amazon individual seller account it's free to create but you need to pay a commission of 99 cents for every sale that you make on amazon not intrigued yet hear this according to a recent survey of amazon sellers twenty percent make between one thousand dollars and five thousand dollars per month which i believe is great for a side hustle or even a decent second income you can even sell your own private label products on amazon around 67 percent of all amazon sellers run their business using the private label method private labeling is a process of manufacturing a pre-existing item preferably with product improvements putting your branding and logos on it and selling it to consumers sometimes it is referred to as wide labeling or brand creation the process has been around for years and is common in countless retail stores targets mainstays brand and walmart's great value are two examples of private label brands your site hustle could also be building websites or content writing there are millions of ways to start a site hustle it's all based on the set of tools that you possess be sure to check out my videos covering this topic and i'll post a link in the description below and remember you can always learn a new skill and this skill could be your next source of income so never stop learning another way to increase your income is by creating a passive income stream passive means you don't actually need to actively trade your time for money you are basically making money while you sleep there are three ways to earn passive income stock markets you don't need to call a local broker anymore there are plenty of applications that you can use to trade stocks that's what makes it the easiest way to gain passive income i'll post some links in the description below for some of my favorite exchanges that i use to trade stocks and crypto cryptocurrency is part of the new modern era with many ways for you to earn passively if you are willing to accept its high risk prices of cryptocurrencies including bitcoin have been falling in 2022 amid a worldwide crypto price crash this could also mark a perfect opportunity to buy with prices being so low check out this video i made where i go over the top five cryptos that billionaire kevin o'leary from shark tank is currently investing in but remember be wise when investing in crypto never put in more than you are willing to lose other options include real estate it's harder to get into it as you need to save up enough to pay for a down payment once purchase you can then get a tenant to rent out the house which will cover payments on the mortgage and hopefully a bit more use any cash flow to pay down the principal faster after a few years you will have paid off the house and can now enjoy some free cash flow from your rental property the earlier you start doing this the sooner you can pay off the mortgage debt now that we have been through each of the five steps of your journey to freedom keep this in mind your life is not going to change unless you take the initiative a nine to five job alone is not enough to build wealth have faith in yourself have faith in your abilities you're not alone in this situation and if other people can do it so can you improve your physical and mental health this will keep you more focused and energetic to work on your goals and it saves you from spending a lot of money down the road on treatment and medications this is it for me today i hope this video has given you as much hope as it did to me don't forget to hit the like button and subscribe to our channel watch our previous videos you never know what piece of information could change your lifeRead More
Virtually 6 in 10 Americans don'' t have. sufficient cost savings to cover a $500 or $1,000 unplanned expense. That’s definitely.
horrible because if something fails, you will certainly need to take unneeded lendings.
or, god forbid, pay a bank card passion. They might rise 20 and even 30 percent..
You have to be a moron to pay that much rate of interest. What else can you.
do if you have nothing else option.
Even those who actually.
conserve some cash apparently said they don'' t have much in their financial savings account. Certainly, cost savings went considerably higher during the pandemic age because we were compelled.
to remain at home and also collect stimulation checks yet that’s currently hunting us down with the greatest.
Regardless of the fed'' s best efforts to keep increasing prices, that hasn'' t helped.
never ever recognize that considering that we don'' t have a machine that can take us to a different truth. When virtually 60 percent of the population says that they have less than a thousand.
dollars in their interest-bearing account, you recognize that we have a problem because a thousand.
bucks is probably not enough to cover the rent. What occurs if you get ill, enter into an.
mishap, or obtain discharged? What do you do? I obtain, its hard to save when.
we are bordered by so many things pushing us to spend.Even before
the video clip.
begun, you probably saw an ad that called you to visit their website and also spend some cash. Let me make clear something, spending cash isn'' t bad. There is absolutely nothing wrong with getting things you.
requirement or want. At the end of the day, what’s the point of generating income at the end of the day. On.
top of that, spending is what drives the economic situation forward. Without enough costs, we will certainly have.
depreciation that will reduce economic growth. What I see often takes place is that People typically.
grumble that they can'' t conserve due to the fact that they need to cover their standard costs yet wind up acquiring.
5-dollar coffee as well as avocado salute every early morning. Once again, there is absolutely nothing poor keeping that, as long.
as you are saving an excellent dimension of your paycheck.I don’t truly support the suggestion of saving every. penny feasible since life isn ' t practically conserving money. It'' s concerning experiences. And also component. of that is having a good time with friends and spending cash. If you are at the start.
of your journey, you can'' t manage to spend every cent you gain. You need to construct that.
funding that will certainly deal with your part of you. The issue is that there are few riches.
awesomes that drain your budget plan one of the most. If you can get rid of them, you will certainly be able.
to conserve a ton of money as well as develop that lot of money. If you prepare, give this video a thumbs.
up, as well as let'' s start with the initial one. Vehicle. If you have actually ever possessed an auto, you most likely recognize just how expensive it is to.
have a car.In truth, a lot of people that drive don'' t recognize exactly just how much their cars and truck costs. The average monthly payment on a brand-new car was $575 in 2020. That'' s much from the real cost of.
possessing a cars and truck. Which’s back in 2020. It’s far more than that given that there is a lack of.
chips and also high rising cost of living. Which’s simply your regular monthly repayments without taking into account.
insurance, gas, and particularly upkeep. What I also realized when I got my very first auto was.
how commonly I started to drive.I began driving anywhere, also when it wasn ' t essential. Gas is not inexpensive, specifically now, and also being embeded traffic daily can.
cost a lot of money. However if you have a household, certainly owning a car makes good sense, specifically.
when public transportation is not a choice. But if you are solitary, for god'' s purpose, save that.
You will thank me later on.
as an example. A fortune! 20 bucks here or 30 bucks there don’t appear like a lot, yet if you include it.
up throughout a month, it will add up. According to the Bureau of Labor Data,.
Americans invest regarding 1 percent of their gross yearly revenue on alcohol.For the average. household, that’s$ 565 a year, $5,650 in one decade, or a whopping $22,600 over a 40-year duration. That.
doesn’t appear much. However do not be tricked by this number. It takes right into account all Americans,.
consisting of those who don’t drink and those who consume once to twice a year. If you just.
take into account those who consume alcohol routinely, that number would certainly be much greater. A couple of hundred.
bucks a month is normal for regular drinkers. The same goes for cigarette smoking, gaming, and various other bad.
routines. The ordinary price of a pack of cigarettes is $6.28, which means a pack-a-day routine sets.
you back $188 per month or $2,292 per year. These numbers could not tighten you, however if.
you also count the opportunity price, you will possibly do away with these behaviors right away. If you toss that 2292 bucks yearly right into an index fund with a 7 percent return,.
with the power of compound rate of interest, you can expect to have $365,883 in 40 years. Add to that the medical expenses that you will certainly get as a result of your bad habit, as well as.
you might as well declare bankruptcy. 3.
Spending money on impressing individuals Back when I remained in institution, my self-confidence was.
really reduced since I was doing badly in college, yet as social animals, we want to be appreciated.
by the people around us. We want to be valued because we have so lots of insecurities..
As well as often, when we put on'' t understand how to fix these insecurities, so we spend cash.
to show everybody that we are comparable to them. Why do you think people acquire.
Rolex watches. Allow'' s be honest, a Rolex watch is actually solving one issue,.
which is informing the moment, but even Rolex holders typically utilize their phones to have a look at the.
time.But people still spend loads of hundreds of bucks on them due to the fact that they have effectively.
branded themselves as a deluxe brand that is used by well-known and also effective individuals. We buy them.
to send out a message to people that – look men, I make a great deal of money. I can afford a Rolex. Most.
individuals acquire that type of watch to impress people, which is not a problem if you can quickly pay for.
that. However if you can barely afford a Mercedes as well as still decide to get it, you have just.
tossed yourself into a massive financial trouble. 4. Paying high-interest prices. Bank card are great. It'' s possibly the best. means to build your credit report and also preserve it. It is extremely essential due to the fact that it will.
aid you to obtain finances and lower interest. Here is when things obtain awful. When you use.
a credit score card to pay for things you can not afford, what winds up happening is that, you.
will not be able to cover your credit scores card debt at the end of the month.
They might go as high as 20 or 30 percent. 41 percent of credit rating card customers reported that
they are failing to pay their. 5.
There will. constantly be a woman around you who will attract you, as well as if you can not control yourself, you are.
screwed. The world is filled up with them, but what ' s additionally particular is that your time and.
sources are restricted. Even if you have 100 million bucks, it is very easy to spend that.
cash on a lady in a glance of an eye. What ' s more vital than money is time, the. time you might invest building your'company, side rush, or whatever will certainly produce
. actual wealth.Unless you discover just how to regulate your desire to go after females, you will. never get to financial freedom due to the fact that there will constantly be a lady on whom you.