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Retirement Planning FACTORS | Age and Income

what to look for when selecting the right 
retirement plan so age is a big factor when   it comes to deciding which plan is right for you 
if you're offered a pension that's fantastic not   many companies do offer those nowadays however 
if you have the benefit of getting one then yes   take it but I also think you should also have a 
retirement plan in addition to your pension just   to diversify your savings another situation to 
consider is your financial situation so someone   with a higher income level is most likely going 
to want to prefer choosing their own retirement   plan because then they're going to be able to 
not only write off those contributions but also   distribute it later in life so it maximizes their 
potential to not incur penalties or other taxable   income kind of situations essentially the more 
money you make you're looking for more write-offs   you're looking to claim less you're looking to 
you know have security but you got to be a little   more deaf and clever in how you're taking your 
distributions so to not trigger taxable events

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Is gold a good investment in 2023? – Robert Kiyosaki, Jim Clark, Charles Goyette

(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.

(Robert laughing)
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
lesson. We'll be right back. (upbeat music) – [Announcer] Robert knows
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now at Don't wait. Access is limited. Go to That's – Welcome back, Robert Kiyosaki,
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?
– Yeah.

– 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.

– 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 – 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? – – 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, 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 – 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).

As found on YouTube

401K to Gold IRA Rollover

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How to Retire by 40

Hey everybody welcome in on this snowy snowy Wednesday wherever you’re joining us from let us know where you joining us from today hey everybody welcome in to the investing in real estate show today we’re gonna have some fun talking about how to retire at 40 how to retire by 40 Sean says hello from Brooklyn New York how much snow are you getting out there Sean we get this massive nor’easter once again and once again so the kids are off school just I’m over it I am over it I know there’s gonna be people are there I’m right in here and say they’re there joining us from there out in California and they’re living living large yeah Aaron is running us from Miami Florida there you go Wong from Miami thanks so much rub it in rub it in rub it in everybody so we’re gonna get this show started in just about three minutes South Africa Indianapolis Moses welcome Pottstown you’re getting hit with some snow right now Matthew Bishop Lakeland Florida hey Matthew yeah I guess California you guys are getting hit with some crazy stuff out there today too huh yeah they cancelled school last night I don’t know I you know growing up I don’t ever remember them canceling school like the night before did you guys ever have that growing up it was like he’d wake up and he would sit and listen to the radio and you would wait you know I was in Pennsylvania I would be all be waiting to listen for our school if it was canceled I’d be in one-hour delay a two-hour delay and you were hoping that they would cancel it but I never had the night before they send out a text message letting you know that hey your school was cancelled and that was never the case for me never never did you do all right we’re gonna get started in just a moment here it’s gonna pull up this today we’re gonna talk about how to retire by 40 and we’ll start here in just about one minute one minute one minute Jerome aramid says hey a guy you talked to me more than two weeks you never came back to me you can take care of this later I know you’re alive nobody emailed me the first appointment Jerome who did you talk to on my team let me know and we’ve got some people in from our team right here in the chat thread as well we can Mike you know a lot of times people will send follow-up emails it goes to your spam folder sometimes people when they initially signup for phone calls with our team they put in the wrong phone number and then they later writes it well I put the wrong phone number in and so our team will be calling and they can’t get ahold of you so I apologize for that and Rudy Rudy please check your spam folder please please please because our team is very good about follow-up and we have hundreds of clients around the world so I apologize for that you know because if someone sends you a PDF it might go right to your spam folder and then you’re like oh I never emailed me just check your junk folder and who are you talking to please let us know we’ll make sure we get you all squared away we have a waiting list for people to get on the phone with us for like a few weeks so I don’t ever want anyone to feel like we don’t get proper follow-up from our team that’s very important so I’ve got our team right now who is in our chat thread we’ll go through and make sure that we get you all taken care of so I apologize for that all right so we are live it is it is a.m.

And we’re gonna kick off the show after the show I’m gonna do you know to talk about this article talk about how to retire at 40 and then after the show we’ll kind of open it up for a few minutes of Q&A if that works for all of you and we’ll just kind of answer some real estate questions some of the things you’re struggling with you’re hoping to achieve and we’ll talk we’ll do that all right Forrest wants to knows are still owners software coming out for Morrison fest yes indeed in fact we’ve been working on it for for since like August it’s all custom it’s been a lot of tweaking we want it to just be perfect Peter Cook says I’ve had very good follow-up thank you Peter appreciate it and James Frederico o1r from our team is right in here he says hey Jerome I got you all reach back out to you and take care of you good good good all right so we’re gonna get started here and we’re going to talk about this in a second so first so again at the end of the show we’ll take some QA and we’ll do that as well let me just get this all dialed in we’re recording we got the audio up and running is everything sound ok guys you guys can hear me give me a thumbs up you guys are all good Brandon yes absolutely because some of those beat class properties you’re asking about the verb method absolutely because you know buying those 60 70 thousand dollar homes those the banks love they’re able to do you know easy refinances on those because there’s easy comps to pull in the neighborhood because there’s retail sales so I would stay away from like the 3040 thousand dollar stuff if you want to really do like a solid brr-brr method stuff if that’s what you’re looking for all right sounds good alright so we’re gonna get started all right all right and let’s get this show started all right today on today’s show we’re talking about how to retire by 40 a news article from the mainstream media it’s kind of total garbage that’s today’s show let’s dive into it hey everyone I’m Clayton Morris longtime real estate investor founder of Morris invest if you’re new to the channel thank you so much for joining us and subscribing I hope that you’re a subscriber because there’s where we talk about passive income building legacy wealth for you and your family that’s the goal right and the vehicle that we use is buy and hold real estate but I don’t care about the real estate right I don’t care about the four walls and a roof I just bought 15 houses this week that we’re about to rehab okay I don’t care what they look like because once we get them it doesn’t matter what I’m buying as a tax shelter and that’s what you should be focusing on buying a tax shelter that’s what this show is all about on today’s show I want to talk about how to retire by 40 and I want to preface this by saying that I got this from an email from a listener a viewer of our show who is getting involved in real estate investing Jesse Daley sent me this email and he said hey Clayton I hope you’re doing well man I thought you’d find this article interesting especially how the writer literally doesn’t mention anything about investing in real estate there’s only a one quick mention of a condo adding to net worth and nothing else in this article I’m so happy that your podcast teaches people how to truly invest properly and retire by the age of 40 this they should have interviewed you for this article so thank you Jesse I promised I would give you a shout out here on the show and I want to go into this article so again I have lampooned some of these CNNMoney articles over the past few years have done shows about these things because I just find them ridiculous I find them ridiculous that they’re telling people to invest in their 401k and then that’s the way that you build retirement that’s the way that you’re able to retire by 40 years old I mean how many people are you know you just like a show of hands you’re listening right now how many of you think you could actually retire by 40 years old just with your 401k of course you can it’s ridiculous the average 401k retirement in this country guess what according to Time magazine is 90 thousand dollars can you retire on that no way so I want to go through this article because it’s a lot of fun and Jesse sent it to me so these are tips from CNN money on how to retire by forty three proven tips three proven tips so let’s go Chris reading isn’t your average retiree he said goodbye to his working years at 37 and is now financially independent living his life on his own terms that’s great now he had 4500 dollars in debt and when he started working he got through all of that he finally found a well-paying job working cyber security took out a mortgage bought a condo and financed a BMW okay alright took out a mortgage on a home bought a condo and financed a BMW on our way to success but then he started to wonder is this all there is he finally said I can’t do this for 40 years in his late 20s he started searching for alternatives and he read the book your money your life by Joe da Menendez and Vicki Robin and he said look there’s other ways of becoming financially independent so he then felt that he had enough to live the rest of his life on his savings and investments without having to work again it took two more years of showing up the cubicle for him to be sure than a 37 he finally walked away so what did he do okay here were his strategies here where his strategies for becoming financially independent and retiring at 40 years old number one save more save more okay so his strategy according to the CNN Money article is cut he cut back on going out to dinner and he cut back on buying lattes so he just started saving more really so let me get this straight that’s the way that you can sustain yourself for the rest of your life by retiring at 40 years old from your job it’s just having enough in the bank you think that you’re gonna have if the average 401k retirement is ninety thousand dollars can you really live the lifestyle that you want so now you’re cutting back on dinners in order to save some money you’re not buying coffee so what Natalie and I’ve talked about here on the show repeatedly is the idea of not having to shrink your lifestyle why not find out what your freedom number is using real estate find out what your freedom number is and actually have enough passive income every month coming in the cash flows you’re creating a tax shelter for yourself and enabling you to live the life that you want so you can’t go buy a latte I find that ridiculous you know David Bach wrote about that in his book the automatic millionaire a years ago and look if you’re $40,000 in debt yes maybe not buying a five-dollar coffee every day is probably not a smart strategy you know also if you’re a smoker you know spending ten bucks a day on cigarettes or whatever it’s probably you know not a smart strategy if you want to claw your way out of debt I get that part of it but as a way of sustaining yourself and retiring at forty years old just saving more savers are losers that money in a bank account is doing nothing for you what about buying performing assets that are actually producing cash flow I mean come on so when he says look where people get into trouble with savings that they think they have to use reusable toilet paper and eat chicken broth but real basically you just you’ll never spend zero dollars find a level of living that you’re come with and work on earning more without increasing your expenses so he’s just saying earn more save more cut out lattes and you can retire at 40 I don’t buy that for a second number to earn more okay that’s his second tip earn more great so let’s save more and earn more again a paycheck job the tax code is written for wealthy people the tax code is written for entrepreneurs who own businesses who own real estate that’s what the tax code is written for it’s not written for a w-2 employee so earn more so what he says is your actual jobs only part of your work in order to earn the kind of money where you can live on only half or less of your salary so take that extra money socket away that’s what he’s saying so work harder right work for a paycheck get taxed as like in the highest tax bracket by the federal government right because we know that paycheck employees under the new tax code or hurt the worst he says this career-boosting work can include earning advanced degrees oh that’s great so his other bit of advice on this is go out and spend a hundred thousand dollars on getting an advanced degree so go get your master’s degree that’s only what a hundred thousand dollars that’s only a hundred thousand dollars right just go get it a master’s degree so that’s smart so save more earn more by spending more on getting an advanced degree or certifications and then that way you’ll have people who will look at you more favorably in the office and be able to elevate you higher that’s great so it’s important understand the weak areas and he says look I finding mentors okay that’s good yes definitely finding mentors as a very smart move finding mentors who can help propel you and then number three he says invest more so he says the most powerful mechanism for investment right now it’s built into their job it’s the 401k invest in your 401 K and a two or three percent return contributing at the level where you get the employer match is a must and that’s your biggest benefit and that’s how you can retire by 40 that’s the article unbelievable so okay ridiculous right that’s how you could retire at 40 no no that’s not how you can retire it 40 and that’s not how you could live comfortably and live the life that you want and be able to produce legacy wealth for your family for the rest of your life so he’s now retired he’s living off of savings but he’s got no assets that are actually performing for him for the rest of his life he’s got a V BMW that he bought financed and he has a mortgage on a condo that he lives in he has no performing assets that is not financial intelligence any way you slice it wouldn’t it have made more sense instead of saving that money while he was working for that cybersecurity company to take that money and invest it in real estate by a performing asset that cash flows that’s how you control and move your family forward that’s how you can build true legacy wealth for you and your family but actually taking money and buying a BMW buying a liability remember all you need to remember is if you’re buying liabilities a liability is something that does not produce cashflow now if he bought that BMW and used it as an uber driver that was producing cash flow that’s a different scenario or if he rented out that BMW that’s a different scenario but I love these I love these articles and again this is all sort of couched around the idea of the mainstream media right the mainstream media wants you to believe that a paycheck employer job is the way to go that getting a 401 K having their company sort of automatically do it for you because you’re too dumb to do it yourself have them handle it have them streamline it and that’s how you that’s how you have a strong safety net we’ve been trained to believe that being secure is having a paycheck job you know again I come back to the I keep seeing this commercial and I’m sure so many of you have seen this commercial over the past few weeks I saw it first during the World Series and they continue to run this stupid thing where it shows a couple you know they’re in their late 60’s and they’re sitting there with a how it’s a Merrill Lynch advisor and the Merrill Lynch adviser says well it looks like the plan worked and you’re gonna be able to have that retirement you wanted and I looked at you look on the iPad app that they’re handing to the couple and he’s like honey we did it we can do it we can live that life we wanted retirement and it shows that their income is enough they’re gonna have about seventy thousand dollars to work with like if you look at if you actually look at the numbers on that screen seventy thousand dollars so now they’re almost at retirement and then the next clip it shows them in a boat with their granddaughter right there sailing off into the sunset like some small little boat with their granddaughter and the little girl says aye aye captain you know and she she’s driving the boat so this is their retirement they finally did it right they had a wait till they’re 70 to buy a boat and to be able to sleep in and spend a little bit of time with her grandkids be all because they had their month their money managed by a financial advisor that was taken out big fees and investing in a stock market and not investing in real estate and cash flowing assets so there you go that’s my frustration there you go that’s my my little my little two cents my little rant about these types of mainstream media articles and when you see them on TV just roll your eyes think about it for a second saving more earning more get an advanced degree spend $100,000 on a master’s degree and then use a 401k that’s how you’re able to retire at 40 that is total garbage that is total garbage unless maybe the guy wants to go live in like Thailand by himself with no kids and he wants to live like in a hut somewhere for the rest of his life and he doesn’t care about actually having any income or cash to be able to buy anything or any food or live the life that he wants I find it to be total garbage I’d love to hear your comments and your reactions to this please send them to us and I really thank you so much so that’s gonna do it for that and thank you so much for subscribing to the show I really appreciate it this is the investing in real estate show you can please subscribe share it with your friends and and you know please go out there take action become a real estate investor because I believe it’s the number one way to build wealth we’ll see you next time everyone all right now with that that’s the show so anyone who wanted to get just the shortened version of that but hey now we’re gonna open up this agree to some Q&A here in the show we got so much so I saw so many chat threads coming through here asking questions alright so fire them up here alright alright Joel says I’ve also had an email a few times hit reschedule my call but no response and said ok Joel no worries we’ll get you all straightened out I apologize like if people miss their phone appointments cuz like I said we Deanna with our team we have like calls are booked out I think about two weeks and so if we call them like goes to voicemail and then we’re trying to reschedule it so we really try to make sure we can get on the get on the same get on the same on the same page Jinger I’m sorry again what’s going on Jinger we’ll get to the bottom of this so I’m gonna make a list of anyone who didn’t get a call back so I apologize alright so can you guys tell me Arum says Glen and Nicole from your team have been great awesome ok so we will dial some of the stuff in ginger and I’m sorry I will get some of these people on your on your team to make sure we get it all taken care of thank you guys let’s see all right you know I’m glad you’re not upset no I just you know we if sometimes emails get back and forth and we’re trying to make sure that everyone gets taken care of okay are Tuffle get you back on your property okay let’s the ad tapper says what do you think about joint ventures they have the money I do appraisals marketing and brother does the renovations hey jayvees are great right you need to build a great team for real estate investing that’s very important you have to have a great team to do real estate investing well Kelly just uh Kelly Cheatham says I want to hear more about your program great just booked a call with our team Kelly and Morris invest comm we’re doing some great things and I’m really excited about some of the new properties that that we purchased that we’re about to do we’ve already designed our contractors to dive in and start rehabbing see Charlie 18 says our new Hara Sean wants to know one of the price of the new house is being built our new houses the three-bedroom two-bathroom right around seventy seventy thousand okay Charlie eighteen I’m gonna answer this question how does it LLC save you on your taxes on your rental how does it LLC save you taxes on your rental properties a lot of the stuff I’ve been reading times about pass-through income I never thought I thought that that was taxed the same way as a sole proprietor yes however remember that under the new tax law as a pass-through entity as a pastor entity you’re now getting an additional 20% deduction 20% and remember when you have your your properties in an LLC you’re being taxed as a business and you’re able then to depreciate spread that money over all those other your w-2 income and those other things so I’ve just an all series of videos on understanding tax shelters and remember what you’re buying as a tax shelter so forget about buying real estate you know I have talked about Lane I like for repairs so repairs add to your tax shelter helps mitigate your overall cash flow because remember what you’re buying in the beginning in a 3-stage is a real estate investing right buy own and cashflow what you’re buying in the beginning you’re adding to your net worth so I don’t care about the cashflow necessarily until years later but you’re buying and adding to your net worth you’re creating a tax shelter for yourself you’re able to mitigate your w2 income you’re able to offset all of those things so I would love to hear what you guys thought about today’s show and the article please let me know I’d love to hear you which you you know what you thought about that Kelly are speaking of the computer program Oh Kelly yeah we’re building a personal owner portal for our clients that the software I mean it’s just it’s and make it much easier so that we don’t like our team doesn’t have to send out Purchase Agreements it’ll be right there because we have so many clients it like we’ll have like three or four clients and want the same house and so a little like yeah give you a purchase agreement and it’s kind of like first-come first-serve and then our team has to send out a purchase agreement wait till it’s signed and all that BS so this will make it very easy for them to be able to click right on it and then open up DocuSign and be able to do it and pretty great Ryan Millie says okay what are the mechanics after purchasing one property to purchase another property or two and repeat the process over and over again where does that money come from well ideally it could come from a bank right or it could come from private money it could come from you know we we talked about a company that we work with called fund and grow less you know if you go to our if you go to our website Morris and vest com slash funding you don’t pay them any money until they actually if they get you money zero percent Interest but why would look at okay so let’s just take the mechanics of that to answer your question so I would say you know buying like a sixty seventy thousand dollar rental property and then leveraging that right so maybe putting or or if you have the cash to do that right that ideally if you could come out of the gate you have the cash to purchase your first one free and clear that’s more of a B Class play you know that’s sort of B minus like 60 65 70 K place play that’s kind of maybe you know it’s transitioning up to sort of an a-class neighborhood and it you know coud appraised in a few years at 80 or 75 that’s the play right so buying that if you could buy that with cash right and then refinancing a pull some equity back out of that and then be able to roll that next amount of cash the bank just gave you into your next property into your second property and then into your third property a buddy of mine here in New Jersey started and did that on an eighty thousand dollar property he now has over two thousand units here our DNA and money when he started and he bought that first property that first property allowed him the snowball and all of these other properties and identity jjh yeah unfortunately JJ was said you purchase second property in Indy in November we’ll hopefully get an answer for you an update on where we’re at with the rehab and we’ll also make sure we connect you with the right management team if you’re having some issues you know we work with a 8 different property management teams so what gets you sort it out so just you know email our team you know the team you know our team at Morris invest email us we had a really really really unusually harsh winter that set us back about four or five weeks on construction this year with like a deep freeze we had stuff all the way through Michigan into Indiana down into Pennsylvania where we just had all kinds of problems Ryan you are absolutely welcome thank you so much Sean says you weren’t able to pull cash off the cards they got through funding to grow yeah that’s unfortunate we have literally funny grows enabled our clients to raise over 20 million dollars for purchases of real estate so I’m not sure why that person had an issue they’re very very good at walking you through step by step I just would say reach out to them and make sure that you’re working with them they they have a thing with gold money so basically they use the cards to buy gold and then you transfer the gold into cash it’s like a little bit of a few hoops to jump through but hey it’s 0% interest for a year you know hey beggars can’t be choosers right we were able to get a hundred and seventy six thousand dollars in cash because of them in order to purchase real estate so it’s an amazing strategy so again and you’ll save like five hundred bucks if you go through our website because we’ve asked them to do that for people who watch us and who listen to us so if you go to Morris invest com slash funding check it out it might not be for you if it is great just check them out you know I have a phone call with them Joe Joe wants to know what appliances do you provide actually I don’t do any appliances in our properties now that is to say if we move into some of the b-class properties we some we will sometimes put in a fridge and stove and things like that but far as a washer and dryer we have I made that mistake when I first started in Michigan I bought all appliances and found out that I didn’t need to that it’s commonplace that tenants will provide all of their appliances they will usually typically go down to a local you know like a little scratch and dent company etc or that’s where I bought my first appliances when I had my first condo in Florida I went to a local scratch and dent place they’re brand new that may have like a tiny little little scratchy scratch on the side and you get a great deal on a bundle of appliances so that’s what most client most tenants will do and then they’ll keep them for many many years so you don’t have to worry about it so Daniel wants to know what’s the fee for you guys to do investing for me there is no fee with us at all I know some other companies charge like ten percent all that stuff we don’t do that you’re just buying the house we just you know and try to get it all stabilized for you with property management team and cash flowing so you don’t have any additional fees you own the property free and clear Jimmy says how do you organize your banking system for your real estate business great question Jimmy you know we have a couple of podcast episodes Natalie and I do where we talk about how to run your you know your family business and finances for real estate investing if you want to check out the investing in real estate podcast you can do so and we have some of those episodes you know the short answer is that you want to have bank accounts set up for your taxes you want to have bank accounts set up for your LLC that owns your rental property and personally so I have LLC’s that own my rental properties those LLC’s have their own bank account so when the cash flow from the tenant comes in I Clayton Morris don’t touch that money that goes into the business then I can pull that money out but you can’t commingle money like you don’t if it’s a business that owns your real estate you don’t want that money coming in to your personal bank account that’s called commingling that’s illegal the IRS does not look favorably upon that so you want to do everything aboveboard making sure that everything is flowing the way that it should Bobby yes what’s the best way to start a property management team no cash but at the time and looking to help investors well I would say to start a property management company takes about a hundred and fifty thousand dollars I know this to be the case so right away to be spending one hundred and fifty thousand dollars to set everything up okay you’re gonna need you’re gonna need to pay for software things like rent manager appFolio those types of things you’re gonna want to hire an accountant you’re gonna want to hire an office manager you’re gonna need to hire leasing agent you also need to get a brokerage right you need to have a brokerage license to make sure that you can manage property so all those things cost some money so to start a property management company that’s what about that’s what it roughly costs and then about if you have more than 100 properties the rule of thumb is for every hundred properties or so you’re gonna want to add another human being to your to your company to facilitate those properties that came to me as a friend of mine who ran his own property management company those are the exact numbers that he used James wants so what’s the area oh it’s just on the website to find the gold funding option so just go to Morris and Vess comm slash funding it’s sort of a hidden page because we don’t like promote it but it’s there if you sign up like I said you’ll save 500 bucks once they get you the money you don’t pay anything until they get you the cards Peter said spoke briefly with your guy Justin have a self-directed IRA I was interested that was a month ago he was going to keep an eye out for a property and haven’t heard back Peter I will follow up with Justin or you can just you know feel free to reach out to Justin as well from our team because we we can set up a whole dashboard for you for the self direction so I’ll make sure that Justin gets back to you Peter I’ll have our team make sure we go through this comment thread to take care of it okay how can you cash out on a $40,000 property well so $40,000 homes are tricky because banks are lazy or appraisers are lazy so a bank is going to hire an appraiser to go in and they’re going to those types of properties they’re being sold every day to investors like I might buy thirty of them right but guess what they’re all off market so they’re not being sold on a multiple listing service like you buy a house for a hundred thousand right with a realtor and so when an appraiser goes to pull comps in order to appraise the property they don’t have any comps to work with the only cops they have are ones that are on the MLS the ones that they end up pulling end up being ones that are like foreclosures or pre rehab so you might have a forty thousand dollar house and you know it’s worth forty forty three forty two but they might appraise it at twenty because the only thing they could find that sold recently on that street was a foreclosure that’s not been rehabbed yet so you can’t you kind of at a crapshoot if you’re planning to do a refinance here’s my suggestion it’s just move up into those sixty sixty-five seventy thousand dollar homes and then you’re putting like you know then you’re able to pull almost like the full equity out of that house or close to it if the bank then cuts you a check for fifty fifty five great then you can roll that into your next property so I just would say told code don’t try to go super cheap if you’re planning on doing a refinance banks are lazy and you’re frankly just at the mercy of these banks you know I can pull up sales disclosures with hundreds of sales where the house is selling for forty three forty five but guess what the appraiser will not look at that and so then you’re at the mercy of like a foreclosure that’s on the Multiple Listing Service and unfortunately it’s it’s just difficult now we’ve had people who’ve done refinances on forty thousand dollar homes and you know like one of our clients recently bought one for forty three it appraised for fifty five but again it’s a crapshoot he could have just as easily had the appraiser come back and say you know well we think that house is worth twenty two so remember what you’re buying is cash flow when you’re buying that low and you’re trying for that high of are a lie you’re you’re sort of like the investor that’s buying 50 properties like that they don’t care about ever refinancing they just want the ROI they want the cash flow I hope that makes sense sure our Lara says I’ve got a shooter I think I missed it sorry zip past it Ahmad it’s kind of invest the United States if I’m not a US citizen yes you can you know just book a call with our team we have people I mean we have a lot of investors Canada and New Zealand all over the world who invest with us do I see Florida getting to California prices within 10 years seeing a lot of new construction and price hikes there in Tampa yeah a lot of those coastal areas you know Tampa those types of places Clearwater Miami of course I don’t see them getting to California craziness you wanted let me tell you a California story the reason it’s ridiculous so like the same house that I might do in Michigan or Indiana and then our clients would buy maybe like a 3-bedroom 1-bath in the $50,000 range right well there was a 3-bedroom 1-bath last week on the market in the bay area for $900,000 and guess what it was condemned it’s a condemned house selling for $900,000 in the bay area that’s California it’s crazy absolutely crazy Mario says I was thinking about buying houses in my name under a HELOC on my primary residence and then when I get to three to five houses to a portfolio loan and all three to five and an LLC is that okay yeah I mean but why would you need to buy them if you’re using a HELOC to buy them just buy them in an LLC now you know there’s no reason you should buy them in your own name at all ever buy them buy them in an LLC if you’re using the HELOC it doesn’t matter how you use the he lock key lock is cash right you could go out and buy a boat if you wanted to with your he lock the bank doesn’t care you’re just writing a check from your he lock so why not buy them in your own name now I’ve started buy them in an LLC today you’re using the he lock on your primary residence it doesn’t matter the bank doesn’t care what you’re doing with that money you just have to pay it back but I to me having a HELOC is one of the killer strategies I love a key lock on my primary residence I use it to buy properties all day long Michele says what are your thoughts on using quicken loans to buy a house I’ve never done it you know hey if you can get good rates and good terms from a bank to buy to buy a house great go for it I don’t see why not video teaching can you recommend a bank for a HELOC on a New Jersey property lakeland la ke Lakeland Bank we love them they’re fantastic smh ninja on the funding Grove fees no notice he you’re refinancing very quickly so you’re gonna refinance very very quickly by that fifty sixty thousand dollar home and then get it into a long-term 30-year note and you pay off the you pay off the zero interest credit cards and then you recycle them so that’s what fund and grow does they recycle and get you more zero percent and then you can just rinse and repeat that’s why it’s a great strategy so you’re not keeping those cards for you know with like you bought a house on a credit card for twenty years you’re refinancing it within that first twelve eighteen months and yes you can quit claim deed you can move a property to an LLC Kevin wants to know thoughts on an umbrella insurance versus LLC well that’s well I say you have both I mean I would definitely have insurance and also have your properties in a limited liability company the reason you have your properties in a limited liability company is so that people will come after you personally that’s the key right you don’t want people if tenant slips and falls because a handrail wasn’t fixed on your one property and this happened to a buddy of mine in Philadelphia he has a property and a girl was drinking one night she came home to the condo she slipped outside because the sidewalk had like this much of a differential and sued him fortunately you know he had insurance but fortunately the case got dismissed or dwindled down where he only had to pay like seventeen thousand can’t come out of pocket seventeen thousand to pay for this girl slipping and falling at his property because he had the property at his own name so don’t put properties in your own name if you don’t need to there’s no reason to forest so to have a bank you recommend for refine 50k rentals I guess it just depends yeah I mean there’s a couple you know State Farm actually the insurance company has a refinance program a national program Northpoint Bank all one word with an e at the end North Point also has a refinance program they’re a national company as well you could look into them Daniel says how do you tell if a property is a B or C class that’s a great question I’ve got a whole video series here on our YouTube channel about how to understand that so you can if you want to look that up right here on the channel it goes more deeply into that but the short answer is an a-class neighborhood I like to avoid an 8 class neighborhood or those two you know two hundred three hundred thousand dollar homes two-car garages maybe they have a swimming pool they’re in the best neighborhoods I stay away from those as an investment property because you’re gonna have the most moving parts that break you’re gonna have the most entitled tenants that cause the biggest headaches and cause you the biggest problems so garage door openers that break garbage disposals that break multiple heating and air systems that break you know avoid those those also have the most volatility those tend to be the areas where those in a big recession lose their job the a-class neighborhoods we saw that across the country right these a class neighborhoods where people lost their jobs and all these houses went into foreclosure and people couldn’t pay their rent or the value plummeted significantly so let’s say they’re renting it from you for $3,000 a month in an a-class neighborhood and everyone loses their job all around that a class neighborhood now the rent is you know you’re gonna have to go down like 20 2022 hundred a month or even 1800 a month we saw that in Manhattan right people renting Manhattan apartments for thirty five hundred bucks a month the recession hits and guess what all these Wall Street people lose their jobs etc and those went down significantly you could rent a place in Manhattan for eighteen hundred a month instead of the 35 that you could before the recession but guess what those C class neighborhoods say the same those C and B class neighborhoods roughly stayed the same it’s consistent cash flow those are the people that tend not to lose their jobs those are the people that are working blue-collar b-class is kind of moving towards an a-class it has better schools slightly lower ROI but I’ve been buying a lot more B class properties lately personally because you know when you get to a point of having find enough cash flow you really want to start thinking about buying those more expensive B class because you’re creating more of a tax shelter for yourself you’re creating that bigger spread that bigger tax shelter and you’re adding to your net worth more significantly so but C and B are my favorites so I’ve been a lot of C and I’m starting to buy a lot more B yeah lisa says that’s why I like condos no outside maintenance but then I don’t like the associations right I do not like HOA fees and I’ve got a whole video on HOAs because HOAs honestly you’re sort of at the mercy of these people I mean you’re literally at the mercy of these people and you never know when they’re going to decide to change the bylaws and make it so that you can’t rent the place or they’re gonna hit you with a big roof assessment you’re gonna have to pay you know $5,000 for a new roof on the property you have no control over that so homeowners associations I’m not a fan of Daniel we don’t we don’t have a number for you to call us because we want to be able to schedule it with you so just go to our website click on the schedule a consultation button you literally answer like eight questions like your first name last name best email address to get a hold of you make sure you type in your phone number correctly and then we just ask you a few quick questions like how many properties do you currently have what are your goals and then you pick on the calendar the time that you want to schedule a call with us it’s very simple so it’s up to you you know that you got the kids from to p.m.

We don’t write so we want you to pick the time that best serves your needs it’ll go on your calendar we’ll send you an email reminder about ten minutes before your call and we’ll jump on the phone with you and talk to you for like thirty minutes Chad boys wants to know how is Capp West you know I heard good things about them years ago but then I think I heard things kind of fell off and I haven’t really actually heard many people using them so I don’t know I’ve never used cap West what if you want to live duplex a class neighborhood your thoughts well Rodney I mean some few if you want to live in the property that’s up to you right because that’s a different animal than investing in a property but if you want to live in a duplex than in a class neighborhood great you buy it I would rent out the other side so that they’re paying your mortgage that’s an investment right that’s an investment property in a class neighborhood so you know go for it you know just a matter of whether if you’re in an a class neighborhood are you likely to have a higher turnover on the rent because people want to have their own single-family home they might not necessarily want to split a house with somebody if they’re in a class neighborhood you know when I was younger I was fine kind of having a shared wall with somebody but now that I’ve got three kids and I’m an adult there’s no way I want to share a wall with somebody else you know I want my own place I want my own yard what do I think about a land trust well it’s funny you mention that as our tax accountant thinks that they are a total mistake so I do not do anything in the land trust sam says I spoke to Glenn a few minutes ago awesome

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How to Replace a $70,000 a Year Salary with Real Estate Investments and Rental Property

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

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Why Millionaires Want Stealth Wealth (Money Makes Happy)

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!

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How to Retire in 9 Years Starting With ZERO (A 5-Step Guide)

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 or 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 life

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Top 5 Wealth Killers Only 1% of Rich People Know

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.
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