This video is about financial education. It is not to get a job, work hard, save money, and invest in a well-diversified portfolio, stocks bonds, mutual funds and ETFs. That's not it.
Saving money will not get you rich. Most people are taught not to make mistakes, taught to follow. Most people don't really know, and they just play the way most people play.
- The financial industry is 2 things: debt & taxes
- It's important to learn how to get out of debt, but who tells them
- Why are you saving money when they are printing it. They print faster than you save, and they keep dropping interest rate
- Most people do as what they are told
- Schools condition people not to make mistakes
- When people are taught not to make mistakes, they don't know what to do when it crashes
- Most people are confused that their home is an asset, but it is actually a liability
- An asset is a noun, cash flow is a verb.
- If the cash is flowing into your pocket as a verb, it is an asset
- People with a big house in the hill, and the cash is flowing out, it is a liability
- The tax laws are for everybody to use, if you have the right financial education
- The rich people play by different laws which you don't know, rules are the same