Since the beginning of the pandemic up until December 2021, 42 trillion dollars of wealth
was created. Think about that number for a moment. Thats not 42 billion! thats 42
trillion! Almost twice the size of the US economy. Twice the size of the largest economy in history.
The question is - where did that money go? How much of that wealth is in your hands?
Probably not much! In Fact, some of you
are most likely broke with little to no savings and a lot of debt. You tried your
luck in the stock market, even if you have made some gains, many of you lost.
But guess who made a lot of money in 2022? Citadel!
Yes, the hedge fund that bet against GameStop. Citadel reported a 16 billion
dollar profit last year. Thats more than many hundred billion dollar tech companies make.
So if you are wondering who made the 42 trillion during the covid
era, you have your answer right there! 26 trillion dollars of that went to the
top 1 percent. They have made more money than anyone could have imagined. The rest went to
the bottom 99 percent. Of course mostly to higher bracket of that 99 percent.
Almost everyone in countries such as US, UK or Europe go to school and yet most people are
financially uneducated, why most people still end up losing money when so much wealth is created?
While we are taught math, history, biology in school, the subject of money is always ignored as
if it’s something that should never be discussed and yet most parents want their kids to go to
school to do better financially. How does that make sense?
Is it the elite of the society that wants us to stay financially uneducated so that
they keep making their trillions, while we are barely making ends meet?
They say we are an average of 5 people that we hang up with? So if the people
you spend most of your time with are financially uneducated, how can you expect yourself to be one?
But how do you know that someone is financially educated? how do you know
if your friends are financially educated? how do you know if you are financially educated?
Here are the 5 signs that you are financially educated!
Give this video a thumbs up and lets start with the first one.
You Know How to spend money to make more money - invest in yourself
Since my parents were immigrants, I grew up with this mentality of saving as much
as I can. Why spend money on this when i can get for free, why pay when i can put
some time into it and somehow get it for free? I lived most of my life with this mentality,
but the problem with this mentality is that, while its great to save money, you need to spend
money to make money, the whole purpose of money is not to be stored somewhere in your bank account.
Money is a resource that you have to use effectively.
If you can spend it to make more money then you should spend as much as you can. But quite often,
spending money doesnt necessary results in an immediate return. For example, paying a few
hundred dollars to go an event where you can make great connections doesnt pay back the next day.
These connections might not be helpful today but in the long run, at least
one of these people can save you a fortune. How much money do you actively invest in yourself?
Make a checklist and write down how much you have
invested in yourself the past 30 days? How about the last 90 days?
Most people almost don't invest in themselves, period, besides college.
Rich people never hesitate to spend money to make them more efficient, to save time or make
them feel better. If there is a book that can make you smarter, wiser? Go ahead and buy it.
If you prefer audio books, get that audio book now and start listening, if there is a course
that will improve your skills, don't hesitate to take it. If there is an event where you can meet
great people, don’t hesitate to go there. Of course, not everything you learn will
be useful, not everyone you meet will be helpful, but if you micromanage everything,
you will end up wasting a lot of time and stay where you are! And guess what!
time isn't going to wait for you! you will get elder and one day you will no longer be around.
The goal is not to keep saving, the goal is keep making more and more money so that you can
invest in your comfort so that you can delegate routine work and save yourself valuable time.
Money is that resources that should make your life better and not just be stored somewhere forever.
And that takes me to the next point. 2. you are focused on making
more money than saving more money This is by far the most important trait.
How much are you making per month? 5K? 10 grand? 20 grand?
Whatever is the amount, thats your ceiling! you cant save more than that! if you save
littraly your entire income. you cant save more than 10k dollars if you make 10K dollars,
even if we assume you dont pay rent, eat or drink. There is still a limit, so focusing on saving is
going to take you nowhere, its a waste of time. Let me ask you a different question, how much can
you possible make? infinite!
there is no such thing as a limit. Some people are making hundreds of thousands,
others millions and some billions of dollars. So even if bill gates tries his best to save
all of his income, he wouldnt be able to save more than 20K if he is making 20K.
Do you see the difference? do you realize why is it important to shift your focus?!
3. you are not worried about future financial problems
When you are young, especially a teenager or just hit your 20s,
you probably stress a lot about money. but when you stress too much, you start playing
the game of money too safely and as a result of that you will make meaningless progress.
financially educated people know that wealth is built over time. time is usually what creates
wealth. if you are 20 year old kid who has no savings, thats absolutely fine. the more you
stress about it, the less rational and wise decisions you are going to take. in fact,
you might even take decisions that will earn you money now but will hurt in the long run.
i have seen so many people taking low paying jobs when they are young instead of learning new
skills. you can work at McDonalds and get yourself a brand new iPhone but whats far more important
is learning a new skill, reading that book or investing in yourself in any way or form you can.
I don’t want to undermine the importance of working early because it gives you the
experience you need but nevertheless, many people get stuck in low paying jobs working
around the clock without spending enough time improving their skills.
4. you dress to look rich People like Steve jobs,
mark Zuckerberg led us to believe that you don’t have to wear fancy suits. You can just wear a
t-shirt and pants and people have to treat you for who you are not and for how you look. you should
strive to become rich and not just look rich. I agree with that 100 percent but unfortunately
thats not how the world works. People dont care about who you are, they care about
what they see. if they see a man with a fancy suite and an expensive car, they will assume
you are someone worthy of connecting to. But if you look cheap, even if you are
a millionaire, people wont care. thats just the brutal reality of
life. act like a king to be treated like a king. don't be fooled by the likes of mark Zuckerberg.
These are hyper-successful people. They dont have to dress fancy or drive expensive cars,
everybody knows that they are the richest people on earth. but I and you my friend arent on the
top of the forbes list, so until you are there, dress to attract the right people to yourself.
5. you value connections as much as you value money
The people who make everything about money are the people who dont understand anything
about money or they just naive and have just started their journey into financial freedom.
Money is not something to strive to, money is a resource like any other resource, its definitely
better in many ways since it can be used far more effectively but it has its limitations as well.
So are people. In fact, people are sometimes far more valueble than money, Knowing the right person
can solve your problem way faster than trying to solve it with money. Entrepreneur know that for
a fact. When you start or have a business, You can have all the money in the world,
but you aren’t going to build a successful business without the right people around you.
You have no idea how many businesses go down just because they are surrounded with
the wrong people. Financially educated people know the value of people so they don’t mind
spending money or in some cases lose money just to be able to connect with the right people. look
around yourself, who are the people you spend your time most? who are your most valuable
connections? how many high value individuals do you know? how many business owners do you know?
how many ceos do you know? how politicians do you know? are you friends with the mayer of your city?
And now let me in the comments below how many of these traits do you have.
How many of your friends have these traits? Thanks for watching and see you in the next one.