- The rich buy assets, the poor only have expenses,
and the middle class, they buy liabilities,
thinking that they are assets.
Today I'm gonna teach you
the three assets that rich people have.
As a media personality, I've had the privilege
of sitting down and interviewing hundreds
of some of the most successful people in the world
through my podcast, The Danlok Show.
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you are already of subscriber of that.
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Now, in spite, it doesn't matter what industry they're in
and they are form all walks of life,
what I've noticed is, all these successful people
have created their wealth in three main asset classes.
Asset class number one, businesses.
A business they start themselves,
or a business that they are partner of.
Or in some cases, someone else's business
that they have invested in,
or it could be a business that they founded
so many years ago that they sold.
But most of the time,
they have created their wealth in businesses.
Asset class number two, stocks.
They have stocks, index funds,
mutual funds, options.
What I notice is, rich people, they like stocks.
They have a stock portfolio because of liquidity
that they could sell and get cash any time they want,
they can turn that shares into money.
And also in some cases, of course,
future earnings and appreciations.
Sometimes they invest for the dividends.
So dividend stocks.
So they have paper assets.
Asset class number three, and that is real estate.
Now most wealthy people, they either have
created their wealth through real estate
or they hold their wealth in real estate.
I'm talking about rental properties.
It could be condos, houses,
commercial properties, apartment buildings, right,
there's so many different kinds of real estate.
It also could be land.
Land that they lease out to farmers or vendors.
It could also be mortgages,
we call them notes, right, papers.
That could be also part of their investment strategies.
It could also be parking lots.
Those are cool.
Or self storage units, those are cool, too.
Or it could be REIT, R, E, I, T,
real estate investment trust, right.
So what I've noticed is they have their money,
they hold their wealth in real estate,
one form or another.
So those are the three main asset classes
that rich people have.
So I want you to ask yourself,
what type of assets do you have?
Are you working towards acquiring some kinda assets
or building some kinda of assets?
Now, when it comes to investing,
you wanna keep it nice and boring.
Don't make it fancy.
It's like martial art,
basic punch, basic kicks,
they are the best.
Yeah, you can do the jumping, flying kicks
and all that stuff,
but you don't wanna do that.
You wanna keep it very, very boring.
If you're having conversations with a buddy
every weekend about, hey, look at my latest investment,
look at my latest thing I just put my money in,
that's not a good sign.
You want it to be boring,
you want it to be like,
same stuff, nothing changes.
And a year later, sit down with them and say,
yeah, kinda the same.
That's the best.
You want assets that are nice and boring
that just chunks cash flow, right,
day in and day out.
Appreciates and produces cash flow for you.
Very, very simple.
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let me know what are the topics you wanna learn more about
when it comes to wealth creation,
when it comes to investing and wealth building as well.