I'm one of those poor people living in Chicago. I'm 65, and I came to the same conclusions your guest did. Unfortunately, it will become a society of the 1% with the rest of us serving them as servants. It will take generations, if ever...😢 LISTEN, PEOPLE: life is about more than money. If you have a roof over your head, if you have had something to eat today to sustain you,, if it you've got warm clothes on your back and serviceable shoes on your feet, if you have good health and can do a good day's work, if there is ONE person who loves you --- we need to start thinking in those terms of wealth. If you get to do or have just a few things that delight you, you're BLESSED. Don't you realize that?? If you can help one other person do or feel better - then your life has MEANING. Rich or poor, there's beauty all around for everyone to enjoy, interesting things to learn and do that DON'T cost money...
Absolutely true, I am a firm believer that true wealth is not about money. However you start you comment with "I am one of those poor people". Do you not think it's fair for everyone to pay the same exact percentages in taxes?
The problem with Chicago is that you guys vote the same way every single election and you think "things will get better this time." Chicago is the perfect example of the problem with uninformed voters. FYI, you guys have passed DOZENS of "tax the rich" policies for DECADES.
Gary is such an inspiration to me now! He's absolutely brilliant, and he's managed to hold onto his empathy kindness while playing in a field where such things aren't highly valued. He's a gift to the world, with his warnings to people of what's coming if we don't start to stand up for ourselves, and take effective action.
This was great. For the first time, I now understand why "the rich get richer, the poor get poorer" is happening, instead of just knowing it's happening.
Focus to things that really make you happy. A good relationship, a good family, kids, nature, bicycle in the rain, bicycle with your kids, trips, sports. Don't be a victim of marketing. Don't buy expensive cars, expensive gadgets etc. Not worthy. They make you "happy" for very short time and unhappy when you see the money that you throw out of the windows. Find a job that can cover your simple life and gives plenty of free time and peace of mind. Memories is all what is left from a full life with the people that we love.
I can't believe there are so many people missing the point. You clearly have enough money to have a nice life, what if you couldn't afford a bicycle for your kids, what if you couldn't afford to heat your house, what if you couldn't afford to have a house, what if you can't get a job that covers a simple life, what if you can't get a job that covers a shit life? More and more people are falling into this state even while working hard and focusing on the 'simple things'. We need to tax wealth, and seeing as you think so little of money surely you can agree with that?
That’s good to think but some families are evil and lots of people are not getting even the basic love from their own kids. Maybe the rich know something poor people will never know. I had a rich friend tell me he expects nothing from family wife or his kids or friends only excepts it from himself, allow people to be exactly who they are expect or go ways from them if they are bad
Get political. Join a union. Tax the rich. Legislate the minimum wage to be a real living wage again. Legislate unemployment, disability, and old age benefits to be enough for people who can't work to live with dignity again. You can't enjoy time with your kids if you never had kids because you knew you couldn't afford to feed them because your wage isn't enough for that. That's just the reality most young people today are facing - they will work all their lives and never earn enough money to be able to raise kids of their own, because the rich decided that wages shouldn't rise with inflation any more. The only way to enable young people to have kids of their own is to get political.
Gary is a refreshing voice for all trying to improve their economic awareness, thanks Erika for reaching out to increase such awareness in todays esoteric world of finance...
What a neat interview! So much of my worldview was built around the downfall of the small-town church. It was so good and wholesome and great! Good people coming together to impact their local world for what they view as being good. The biggest issue was the nieve view that if they do good, then good will return... And that just isn't the case. Nobody took care of themselves, and slowly over time people were forced to move, forced to work more and had less time or resources to give, and it slowly turned into a good ol boys club of men who wanted to explain how sins caused the world to be awful... And that isn't at all what happened! I mean... Let's set aside the idea of the existence of God, because if you look at that with any scrutiny then it doesn't end well. But the founders of our small town church were leaders of the community. They owned businesses, they built small empires, they managed banks, they were leaders of the community who wanted to do good things apart from the businesses that they ran. But they didn't pass that along to the next generation. They didn't pass along the know-how of managing people, assets, and how to create and preserve the world they wanted to be a part of. So as they died off and retired, the small town church collapsed. Protect yourself first. Become bigger. Gain assets. And find like-minded people who can build the kind of world that you want. When good people sit back and do nothing, bad things happen. It isn't that evil people are out to milk the average Joe, it is that when people don't protect themselves and their communities then entropy will knock you out. It takes a lot of work to undo that.
I think the biggest frustration is how the poor embrace poverty. What I mean is... they are chronically in survival mode and can't/won't stop to look around and see that there are multiple roads to take - some much easier. But the moment they get a breath of fresh air they run to spend money of something that brings them joy rather than something that makes their life easier. This is how poverty rots your brain..... A perfect example of this is a tenant I have who is on disability. I raised rent significantly to cover cost and honestly to have a desirable rate of return (7% by the end of year 2). She just complained, but it is only her living a 2 bedroom. When I suggested getting a roommate, she acted like I was crazy. When I found her a great little efficiency, she stated she doesn't want to move. In what reality does a single person need a 2 bedroom they can't afford. I've made 80K plus in all over USA and still rented a room out of a varies houses ($800-950 all included). If you wait for shit to hit the fan, you're going to have a mess that takes years to clean up. The world is over populated, things will get harder. Do the work needed to love yourself. A lot of the issues is mental health, which is exacerbated by broken homes. I'm getting jaded as I get older. People are always spending every last dollar they have, buying the car just slightly out of their price range, not engaging in healthy behaviors, etc. Just 1000x small bad decisions that leads to years of poverty. LOVE YOURSELF and work on delayed gratification. Buy the iPhone/watch, used car - not new, etc. once you have money in the bank - not on credit because you want to "feel" successful.... Be successful
Kudos for putting Gary on the show. The usual narrative is that you’re poor cuz you’re lazy and overspend, and while that may often be true, in most cases the chips were stacked against you from the start and you had very little choice in the matter. In come inequality is destroying us
2 thumbs up. my interpretation was understand the world as a whole and concentrate on your part and what you can do. Macro to micro...if you can succeed at micro, move your way up to Macro and rule the world....Thanks Erica
Great video. There is one thing Gary said that made me think a bit. He's probably right that day trading/high risk investments are not for most people. I will say though that "fixing things with politics" follows the same concept in my opinion. The overwhelming majority of people in the US are simply not informed enough to vote. Slogans like "tax the rich" sound nice and even resonate with the poor but the truth is we've been implementing "tax the rich" policies in the US for decades at this point. So no, we aren't going to fix wealth inequality with yet another tax on the rich which will simply be passed onto the middle class.
Agreed, but I think his point was more that he knows most people aren't educated enough on these topics so it's up those that are to help spread the message. The only way us middle classers are going to get a break is if we educate ourselves and stand up and say no more. The rich are not going to educate us on this because they will lose money. The government isn't going to educate us (see less than 5 cents per child spent by the G on civics education versuses 35 cents or more on stem topics in 2017ish). If the government educates us on these issues they lose the handouts and free vacations (see Supreme Court Justice Clarence Thomas's entire career) so, we must rise up and educate not only ourselves but our neighbors and coworkers. The sad thing is most people don't want to hear it because the truth hurts 😔
At no point does Gary suggest taxing the middle class, more. He is fighting for the expansion of the middle class. The middle class are closer to the working class than than they are to the rich. We need to tax wealth , nobody needs to be a billionaire is what he is saying. He is not so much worried about your little £1m-£5m nett worth.
@@chumabanjwa4662 you don't get it. Whenever we tax the wealthy, they always pass their taxes off to consumers. Politicians come in and "rescue" the poor class by giving them handouts but the middle class only gets the middle finger. The middle class continues to pay increased costs without getting any benefits from the government. This is exactly why the middle class is disappearing and the wealth disparity is growing.
@@chumabanjwa4662 the majority of wealthy people are business owners. What happens you try to pass more taxes on a business owner? That individual recovers their lost income through the consumer base. So if things get more expensive for the wealthy then inevitably, goods become more expensive for everyone else.
He said he studies the market. Erika can you do a podcast that explains how you study the market or a specific companies stock you want to invest in ? What key components of the company should we look out for before buying a stock or index fund ? How can we study a stock before making that investment?
I think it's odd that he believes in a zero-sum game. He's made his money exploiting problems NOT solving problems. The answer is kinda simple. REITS, mutual funds and partial shares. If he's having a king Solomon enlightenment that it's all vanity, he should give his closest circle assets to hold so the interest supplements their income and to everyone else he starts a diversified mutual fund they can buy in to.
The aristocracy & rich people in the UK long ago convinced the poor & ordinary people to just “keep calm & carry on”. So the ordinary people rarely push or ask for anything better. The UK needs a workers revolution.
UK is not the only place where to buy assets. Bottom 50% still can buy assets in Poland, Latvia, Lithuania, Estonia... and protect their wealth from taxation, inflation and high prices around London.
are you serious? the bottom 50% don't have wealth, they can barely pay their bills. there's no money left to invest unless you don't have a family or a life.
@@redv0472a study done on over 10k millionaires said one of the common factors of them being able to build wealth is the belief that they can. NO MATTER what is happening in the economy or the white house it can be done today!
I think some of this is off. Home ownership and extreme poverty has improved over the years. Systems do need to be changed, but metal health is part of the problem. People need skills to manage life, not assets they can lose.
I am more worried that being a long term investor isn’t going to treat someone to well in the future. Especially since everything is already overpriced.
Just wanted to let you know that usually sponsored part of the videos are annoying, but not yours, actually really relevant and interesting. You go way beyond what other youtubers present by showing actually how to sign up. Keep it up
I watched this twice to understand and comprehend what Gary expounded in his talk. Great content and concern too. I saw this happening as well in my country. Respect to Erika to choose Gary and pick up this topic for this discussion! Great work.
The best way to help someone is by investing in yourself. The best way to help a poor person is by not becoming one. Just like you Erika and myself, people have choices that have consequences. Over 70% of millionaires in America 🇺🇸 are self made. Excuses or results. Life isn’t fair but it’s good.
That was a very insightful discussion, thanks. Imterestimg how governments around the world that claim to understand the needs of the poor and the inequality continue to enable and tolerate practises that worsens the problem rather than improving it.
Building wealth is both personal and systemic, but it definitely starts with the personal. You can give a person a million dollars, similar to a lottery, only to have him or her lose it all and go back into debt. The money gets redistributed back to the top The difference between the rich and poor is mindset. I suspect that there would be a sizable change-if not fully complete-outside of political intervention if the collective of people changed their mindset.
"workers of the world unite!" that's all he's saying if you can't win then old fashioned way, TAKE what you want from someone who did win just... TAKE it (psst! two wrongs don't make a right - didn't your parents teach you anything??)
It's sad that you see things that way. From my point of view, me paying more in taxes than someone with millions is them taking from me. I'm not asking for what is theirs I just want them to have to pay the same percentages I do. How is that taking anything more from anyone than is being taken from me? THAT is the overall point that you seem to be blind to?
@brianadamsjr2664 I'll bet if you found yourself with a large amount of money and your accountant started telling you how to shelter your money from taxes you'd be all ears.
Respectfully, it would help some people (like me) to have this guest’s name in the title too. The platform I was on didn’t allow me to look at the info summary or comments. Had to remember to return here on my mobile device to find his name and then subscribe to his channel. ❤
Great video. Wonderful to hear Gary explain what is happening and offer hope that things can be changed. Knowledge is power which is why they try to keep us ignorant and in the dark…😊
Gary's message is so important that the fact that he's the real life Will Hunting (from the movie "Good Will Hunting"), but the version that actually took the trader job, gets lost...
I do appreciate that Erika was trying to figure out how to get financial advice here, but you're interviewing a man who's telling you the house is on fire, there's no fire extinguishers, and the Fire Dept. won't be called. Maybe don't keep asking him what cheap improvements increase the home's value the fastest? That's unfair. It is important to invest to protect oneself as the world is collapsing around us. I apologize.
If the vast majority of people cut back on their spending, and adopt a high savings rate in order to invest, the economy will collapse and stocks will crash.
This guy is saying to be smarter within a system that will inevitably crush them mo matter who they are unless they are wealthy. That’s not an answer. Only by rearranging the distribution of power in the economy and politics can the inequality he sees destroying the middle class be stopped and reversed. The problem with the rich is their unending, unquenchable greed. They must be restrained by the law or else we are hurtling toward feudalism.
47:00 onwards is where we get to the truth of the matter. As the proportion of poor people gets bigger and the proportion of rich people gets smaller, the solution is not for each poor person individually to try to jump from the 70% to the 30% or the 80% to the 20%. A very tiny number like Gary might make it, but the vast majority will fail, and continue to be poor, not because they did anything wrong or weren't good enough but simply because that's how the system is set up. What we need to do is change the system so that being poor doesn't suck. And that means uniting against the rich, legislating honest wages for workers, and taxing the rich to pay for all the other stuff we need to make life as a poor person not suck.
Hi @Erika2 , if you have not done so already I recommend interviewing Codie Sanchez. I think she may have a similar goal to Gary. She however has a different solution which is ownership ie build and buy businesses. I just discovered her and saw this video of her speaking at a conference (The best way to get rich in 2024), which made me think of your interview with Gary, based on some things she says about the rich and who rules/owns the world. Her talk then goes into her solution and how to do it. I know you were trying to get at what can we do at the micro level with Gary to address the issue. I think Codie lies somewhere between you and Gary. All three needed. Would love to hear you interview her.
It doesn't matter how long you wait, for this markêt? Opportunities must come. Invest for the long haul. Don't get too greedy and don't get too scared. It's important to make informed choices rather than relying on luck or impulse. it's best to partnēr with an advisor. I personally make a steady income of 25-60k through hardcore ln√esting and save 20-30%, and guess what? I'm already partnered with one
I actually discovêred *Olivia Charlotte Oswald* on a CNBC interview, checked her out, and we started our partnership. You should definitely look her up, she could be a great partnêr for you too.
I'm happy to come across these recommendations. I work with her and I am impressed with the thoroughness and professionalism of the investment diligence packages she provides.
Erika I just want to add one thing to this that probably nobody else will. I just learned today that Shigeichi Negishi has died. He was the inventor of karaoke. Great interview.
Great content thank you, you should consider having all of your guest info/links to be able to follow them, same as you have all of the others, just a though some o them are such a wealth of information, thank you
It's not inevitable at all. There are a lot more poor people than rich people, and in a democracy, numbers matter. The poor just need to start voting to tax the rich, voting to bring back a minimum wage that isn't a poverty sentence, and holding politicians to account. Communicate with your local representative, tell them what you expect of them, and if they don't do it, join a party and stand for election yourself on a platform of living wages and taxing the rich!
It’s wise to pay attention to what happens to the rich and wealthy because that always reflects what will happen to the poor.Every time when newer rich and wealthy people are created translation every time when the same people that are rich and wealthy become more rich and wealthy more poverty is created.This is mostly seen in developed countries that run a top-bottom pyramid scheme economy where is that only the top 15% will be well off while the bottom 85% work harder and hustle more living paycheck to paycheck and still not getting ahead.I don’t think poverty will go away anytime soon in countries like here in the USA,Canada,United Kingdom,Australia these developed countries are reluctant to keep majority of people financially deprived.Here in the USA this country is made up of all kinds of different ethnic groups we are even having more Asians and Indians coming in too besides Latinos and Hispanics but I did some research recently and found out that 72% of all wealth in America is still only concentrated in white people.Im not surprised by this even though they don’t separate us by race anymore they separate us by income,status and class.Because most younger white people are much poorer than the older generation of white people and that is a huge sign a major shift is happening right now in wealth.So another study I found out is the top races that will be prospering later on the most by 2050 they have Asians,Indians at the top followed by yes black Americans and Africans and middle eastern people.Yall won’t believe the races that are at the bottom which are the whites,Latinos and Hispanics.
It's not the simplistic. Take Musk for example. He's classed as a billionaire, but most of the wealth is tied up in Tesla and it is value he created out of nothing, it isn't a zero sum gain. Look at the value it provides through innovation in self-driving and EV technology. Then on the other hand, there is housing. Take the UK and Ireland as perfect examples of where privatising home construction and ownership almost completely has been an absolute disaster for society. Another factor, meanwhile is mass immigration. The population in the Republic of Ireland has increased by 1 million since the 90s, mostly through immigration. House prices are higher than ever now, it's a complete disaster. Still, half the wealth is owned by a couple of billionaires.
I'm one of those poor people living in Chicago. I'm 65, and I came to the same conclusions your guest did. Unfortunately, it will become a society of the 1% with the rest of us serving them as servants. It will take generations, if ever...😢 LISTEN, PEOPLE: life is about more than money. If you have a roof over your head, if you have had something to eat today to sustain you,, if it you've got warm clothes on your back and serviceable shoes on your feet, if you have good health and can do a good day's work, if there is ONE person who loves you --- we need to start thinking in those terms of wealth. If you get to do or have just a few things that delight you, you're BLESSED. Don't you realize that?? If you can help one other person do or feel better - then your life has MEANING. Rich or poor, there's beauty all around for everyone to enjoy, interesting things to learn and do that DON'T cost money...
Absolutely true! ❤
Absolutely true, I am a firm believer that true wealth is not about money. However you start you comment with "I am one of those poor people". Do you not think it's fair for everyone to pay the same exact percentages in taxes?
The problem with Chicago is that you guys vote the same way every single election and you think "things will get better this time." Chicago is the perfect example of the problem with uninformed voters. FYI, you guys have passed DOZENS of "tax the rich" policies for DECADES.
I totally agree 👍
@michelepark,what you have said has resonated with me, and moved me too, I am so grateful I read your reply. God bless you! 🌺
Gary is such an inspiration to me now! He's absolutely brilliant, and he's managed to hold onto his empathy kindness while playing in a field where such things aren't highly valued. He's a gift to the world, with his warnings to people of what's coming if we don't start to stand up for ourselves, and take effective action.
This was great. For the first time, I now understand why "the rich get richer, the poor get poorer" is happening, instead of just knowing it's happening.
Focus to things that really make you happy. A good relationship, a good family, kids, nature, bicycle in the rain, bicycle with your kids, trips, sports. Don't be a victim of marketing. Don't buy expensive cars, expensive gadgets etc. Not worthy. They make you "happy" for very short time and unhappy when you see the money that you throw out of the windows. Find a job that can cover your simple life and gives plenty of free time and peace of mind. Memories is all what is left from a full life with the people that we love.
This comment.
I can't believe there are so many people missing the point. You clearly have enough money to have a nice life, what if you couldn't afford a bicycle for your kids, what if you couldn't afford to heat your house, what if you couldn't afford to have a house, what if you can't get a job that covers a simple life, what if you can't get a job that covers a shit life? More and more people are falling into this state even while working hard and focusing on the 'simple things'.
We need to tax wealth, and seeing as you think so little of money surely you can agree with that?
That’s good to think but some families are evil and lots of people are not getting even the basic love from their own kids. Maybe the rich know something poor people will never know. I had a rich friend tell me he expects nothing from family wife or his kids or friends only excepts it from himself, allow people to be exactly who they are expect or go ways from them if they are bad
Get political. Join a union. Tax the rich. Legislate the minimum wage to be a real living wage again. Legislate unemployment, disability, and old age benefits to be enough for people who can't work to live with dignity again.
You can't enjoy time with your kids if you never had kids because you knew you couldn't afford to feed them because your wage isn't enough for that. That's just the reality most young people today are facing - they will work all their lives and never earn enough money to be able to raise kids of their own, because the rich decided that wages shouldn't rise with inflation any more.
The only way to enable young people to have kids of their own is to get political.
Gary is a refreshing voice for all trying to improve their economic awareness, thanks Erika for reaching out to increase such awareness in todays esoteric world of finance...
His book is incredibly powerful.
Would love his book to get to no.1
Support him and his message
✌️
What is the name of his book?
@@julhe8743 The Trading Game by Gary Stevenson 😊
Wo ERIKA, u have over 2 million followers??? Such a great accomplishment!!!
So good to see you Ethan! I remember you from when I had less than a few thousand followers. Thanks so much for your continued support
At least he was honest about everything…
What a neat interview!
So much of my worldview was built around the downfall of the small-town church. It was so good and wholesome and great! Good people coming together to impact their local world for what they view as being good. The biggest issue was the nieve view that if they do good, then good will return... And that just isn't the case. Nobody took care of themselves, and slowly over time people were forced to move, forced to work more and had less time or resources to give, and it slowly turned into a good ol boys club of men who wanted to explain how sins caused the world to be awful... And that isn't at all what happened! I mean... Let's set aside the idea of the existence of God, because if you look at that with any scrutiny then it doesn't end well. But the founders of our small town church were leaders of the community. They owned businesses, they built small empires, they managed banks, they were leaders of the community who wanted to do good things apart from the businesses that they ran. But they didn't pass that along to the next generation. They didn't pass along the know-how of managing people, assets, and how to create and preserve the world they wanted to be a part of. So as they died off and retired, the small town church collapsed.
Protect yourself first. Become bigger. Gain assets. And find like-minded people who can build the kind of world that you want. When good people sit back and do nothing, bad things happen. It isn't that evil people are out to milk the average Joe, it is that when people don't protect themselves and their communities then entropy will knock you out. It takes a lot of work to undo that.
Talented and Amazing young man!!
Great interview
Very powerful I show this one to my kids
I think the biggest frustration is how the poor embrace poverty. What I mean is... they are chronically in survival mode and can't/won't stop to look around and see that there are multiple roads to take - some much easier. But the moment they get a breath of fresh air they run to spend money of something that brings them joy rather than something that makes their life easier. This is how poverty rots your brain..... A perfect example of this is a tenant I have who is on disability. I raised rent significantly to cover cost and honestly to have a desirable rate of return (7% by the end of year 2). She just complained, but it is only her living a 2 bedroom. When I suggested getting a roommate, she acted like I was crazy. When I found her a great little efficiency, she stated she doesn't want to move. In what reality does a single person need a 2 bedroom they can't afford. I've made 80K plus in all over USA and still rented a room out of a varies houses ($800-950 all included). If you wait for shit to hit the fan, you're going to have a mess that takes years to clean up. The world is over populated, things will get harder. Do the work needed to love yourself. A lot of the issues is mental health, which is exacerbated by broken homes. I'm getting jaded as I get older. People are always spending every last dollar they have, buying the car just slightly out of their price range, not engaging in healthy behaviors, etc. Just 1000x small bad decisions that leads to years of poverty. LOVE YOURSELF and work on delayed gratification. Buy the iPhone/watch, used car - not new, etc. once you have money in the bank - not on credit because you want to "feel" successful.... Be successful
Kudos for putting Gary on the show. The usual narrative is that you’re poor cuz you’re lazy and
overspend, and while that may often be true, in most cases the chips were stacked against you from the start and you had very little choice in the matter. In come inequality is destroying us
Really love this one! Will defo follow Gary on YT
2 thumbs up. my interpretation was understand the world as a whole and concentrate on your part and what you can do. Macro to micro...if you can succeed at micro, move your way up to Macro and rule the world....Thanks Erica
Snow piercer the movie.
Divided into wagons people don’t know either one exists. Or their problems.
Another brilliant video. I always click on any video involving Gary instantly. Hopefully his message continues to spread.
No way! The tall and spacious building! Same background….great to hear about your experiences. Loved this podcast!
Great video. There is one thing Gary said that made me think a bit. He's probably right that day trading/high risk investments are not for most people. I will say though that "fixing things with politics" follows the same concept in my opinion. The overwhelming majority of people in the US are simply not informed enough to vote. Slogans like "tax the rich" sound nice and even resonate with the poor but the truth is we've been implementing "tax the rich" policies in the US for decades at this point. So no, we aren't going to fix wealth inequality with yet another tax on the rich which will simply be passed onto the middle class.
Totally agree.
Agreed, but I think his point was more that he knows most people aren't educated enough on these topics so it's up those that are to help spread the message. The only way us middle classers are going to get a break is if we educate ourselves and stand up and say no more. The rich are not going to educate us on this because they will lose money. The government isn't going to educate us (see less than 5 cents per child spent by the G on civics education versuses 35 cents or more on stem topics in 2017ish). If the government educates us on these issues they lose the handouts and free vacations (see Supreme Court Justice Clarence Thomas's entire career) so, we must rise up and educate not only ourselves but our neighbors and coworkers. The sad thing is most people don't want to hear it because the truth hurts 😔
At no point does Gary suggest taxing the middle class, more. He is fighting for the expansion of the middle class. The middle class are closer to the working class than than they are to the rich. We need to tax wealth , nobody needs to be a billionaire is what he is saying. He is not so much worried about your little £1m-£5m nett worth.
@@chumabanjwa4662 you don't get it. Whenever we tax the wealthy, they always pass their taxes off to consumers. Politicians come in and "rescue" the poor class by giving them handouts but the middle class only gets the middle finger. The middle class continues to pay increased costs without getting any benefits from the government. This is exactly why the middle class is disappearing and the wealth disparity is growing.
@@chumabanjwa4662 the majority of wealthy people are business owners. What happens you try to pass more taxes on a business owner? That individual recovers their lost income through the consumer base. So if things get more expensive for the wealthy then inevitably, goods become more expensive for everyone else.
He said he studies the market. Erika can you do a podcast that explains how you study the market or a specific companies stock you want to invest in ? What key components of the company should we look out for before buying a stock or index fund ? How can we study a stock before making that investment?
👆🏽
I think it's odd that he believes in a zero-sum game.
He's made his money exploiting problems NOT solving problems. The answer is kinda simple. REITS, mutual funds and partial shares. If he's having a king Solomon enlightenment that it's all vanity, he should give his closest circle assets to hold so the interest supplements their income and to everyone else he starts a diversified mutual fund they can buy in to.
Great interview but is it just me this guy seem very itchy in this interview 😁
I've just finished his book. I would highly recommend it
Great interview with Gary. I have been following Gary since Covid and I learned more about him because of your questions. Well done.
9/14/24
Hello
The aristocracy & rich people in the UK long ago convinced the poor & ordinary people to just “keep calm & carry on”. So the ordinary people rarely push or ask for anything better. The UK needs a workers revolution.
UK is not the only place where to buy assets.
Bottom 50% still can buy assets in Poland, Latvia, Lithuania, Estonia... and protect their wealth from taxation, inflation and high prices around London.
are you serious? the bottom 50% don't have wealth, they can barely pay their bills. there's no money left to invest unless you don't have a family or a life.
Awesome. Gary is amazing. Thanks for having him on.
Easy credit to unqualified buyers has just destroyed the working class. Far crueler to bankrupt someone than deny the loan in the first place.
I dont like his negativity. And buy gold?!? Look at the historic track record. No one thats “poor” should be buying commodities 🤦🏾♂️
I don’t like when people confuse being real for being negative life is not all sunshine and roses
I don’t like when people confuse being real for being negative life is not all sunshine and roses. Be thankful someone is telling you the truth
@@redv0472a study done on over 10k millionaires said one of the common factors of them being able to build wealth is the belief that they can. NO MATTER what is happening in the economy or the white house it can be done today!
Gold is a good asset to own. I would also add silver in the mix.
Like Steve Martin 1:47 said if you want to get rich. First get a million……..😂
I think some of this is off. Home ownership and extreme poverty has improved over the years. Systems do need to be changed, but metal health is part of the problem. People need skills to manage life, not assets they can lose.
I am more worried that being a long term investor isn’t going to treat someone to well in the future. Especially since everything is already overpriced.
Just wanted to let you know that usually sponsored part of the videos are annoying, but not yours, actually really relevant and interesting. You go way beyond what other youtubers present by showing actually how to sign up. Keep it up
I watched this twice to understand and comprehend what Gary expounded in his talk. Great content and concern too. I saw this happening as well in my country. Respect to Erika to choose Gary and pick up this topic for this discussion! Great work.
The best way to help someone is by investing in yourself. The best way to help a poor person is by not becoming one. Just like you Erika and myself, people have choices that have consequences. Over 70% of millionaires in America 🇺🇸 are self made.
Excuses or results. Life isn’t fair but it’s good.
That was a very insightful discussion, thanks. Imterestimg how governments around the world that claim to understand the needs of the poor and the inequality continue to enable and tolerate practises that worsens the problem rather than improving it.
Because they all work with the government
Outstanding interview.
Building wealth is both personal and systemic, but it definitely starts with the personal. You can give a person a million dollars, similar to a lottery, only to have him or her lose it all and go back into debt. The money gets redistributed back to the top The difference between the rich and poor is mindset. I suspect that there would be a sizable change-if not fully complete-outside of political intervention if the collective of people changed their mindset.
I sync so much with this great human!!
Poor? My family was
so poor we had to use
our chauffeur’s car.
He sounds like Matthew McConoughey...
This is what is Julius Malema from South Africa is also advocating....
*THE 98% DESTROYS THE 2% WITHIN HOURS!!!*
NO.
❤❤
"workers of the world unite!"
that's all he's saying
if you can't win then old fashioned way, TAKE what you want from someone who did win
just... TAKE it
(psst! two wrongs don't make a right - didn't your parents teach you anything??)
It's sad that you see things that way. From my point of view, me paying more in taxes than someone with millions is them taking from me. I'm not asking for what is theirs I just want them to have to pay the same percentages I do. How is that taking anything more from anyone than is being taken from me? THAT is the overall point that you seem to be blind to?
@brianadamsjr2664 I'll bet if you found yourself with a large amount of money and your accountant started telling you how to shelter your money from taxes you'd be all ears.
@sdsc0rch exactly, they take from us, and it is wrong
The rich already took what they wanted. When you take it back with taxes you're just righting the wrong they already did.
Bitcoin fixes this!
Respectfully, it would help some people (like me) to have this guest’s name in the title too. The platform I was on didn’t allow me to look at the info summary or comments. Had to remember to return here on my mobile device to find his name and then subscribe to his channel. ❤
Thanks for putting him on.
His message is authentic and to the point to say the least.
I'm following Gary now. Thanks for giving him a platform to get his message out
Dressed in black and white one leg up mason??????
Great video. Wonderful to hear Gary explain what is happening and offer hope that things can be changed. Knowledge is power which is why they try to keep us ignorant and in the dark…😊
Gary's message is so important that the fact that he's the real life Will Hunting (from the movie "Good Will Hunting"), but the version that actually took the trader job, gets lost...
Very refreshing to see this POV get this kind of traction in this particular corner of social media 👍. Well done, Erika!
I do appreciate that Erika was trying to figure out how to get financial advice here, but you're interviewing a man who's telling you the house is on fire, there's no fire extinguishers, and the Fire Dept. won't be called. Maybe don't keep asking him what cheap improvements increase the home's value the fastest?
That's unfair. It is important to invest to protect oneself as the world is collapsing around us. I apologize.
If the vast majority of people cut back on their spending, and adopt a high savings rate in order to invest, the economy will collapse and stocks will crash.
Hi Erika, check out Cody Sanchez. She teaches how to start to take back America. God Bless you!!!
This guy is saying to be smarter within a system that will inevitably crush them mo matter who they are unless they are wealthy. That’s not an answer. Only by rearranging the distribution of power in the economy and politics can the inequality he sees destroying the middle class be stopped and reversed. The problem with the rich is their unending, unquenchable greed. They must be restrained by the law or else we are hurtling toward feudalism.
47:00 onwards is where we get to the truth of the matter. As the proportion of poor people gets bigger and the proportion of rich people gets smaller, the solution is not for each poor person individually to try to jump from the 70% to the 30% or the 80% to the 20%. A very tiny number like Gary might make it, but the vast majority will fail, and continue to be poor, not because they did anything wrong or weren't good enough but simply because that's how the system is set up.
What we need to do is change the system so that being poor doesn't suck. And that means uniting against the rich, legislating honest wages for workers, and taxing the rich to pay for all the other stuff we need to make life as a poor person not suck.
Hi @Erika2 , if you have not done so already I recommend interviewing Codie Sanchez. I think she may have a similar goal to Gary. She however has a different solution which is ownership ie build and buy businesses. I just discovered her and saw this video of her speaking at a conference (The best way to get rich in 2024), which made me think of your interview with Gary, based on some things she says about the rich and who rules/owns the world. Her talk then goes into her solution and how to do it.
I know you were trying to get at what can we do at the micro level with Gary to address the issue. I think Codie lies somewhere between you and Gary. All three needed. Would love to hear you interview her.
What's the best approach to get started? and how long do I wait before the lnvēstment can y!eld profits?
It doesn't matter how long you wait, for this markêt? Opportunities must come. Invest for the long haul. Don't get too greedy and don't get too scared.
It's important to make informed choices rather than relying on luck or impulse. it's best to partnēr with an advisor.
I personally make a steady income of 25-60k through hardcore ln√esting and save 20-30%, and guess what? I'm already partnered with one
I get it! I know the amazing perks of having a pro by your side, but I haven't found one for myself yet either.
I actually discovêred *Olivia Charlotte Oswald* on a CNBC interview, checked her out, and we started our partnership. You should definitely look her up, she could be a great partnêr for you too.
Thank you for offering your advice. Definitely grabbing this opportunity. Just found the webpage
I'm happy to come across these recommendations. I work with her and I am impressed with the thoroughness and professionalism of the investment diligence packages she provides.
Erika is the best ❤❤❤
What’s the book?
The trading game.
Erika I just want to add one thing to this that probably nobody else will. I just learned today that Shigeichi Negishi has died. He was the inventor of karaoke. Great interview.
Sadly only extreme opinions get views. You may be doomed but only because you think and make it so
Great content thank you,
you should consider having all of your guest info/links to be able to follow them,
same as you have all of the others, just a though some o them are such a wealth of information,
thank you
I will definitely be reading his book because this interview is powerful
Erika does it matter if I buy my VOO at market or limit?
Erica I can’t get to your website please help
I love this guy so so humble
Thanks Erika and Gary for such a great video.
It’s inevitable the middle class will vanish soon. It’s happening faster than anyone expected.
It's not inevitable at all. There are a lot more poor people than rich people, and in a democracy, numbers matter. The poor just need to start voting to tax the rich, voting to bring back a minimum wage that isn't a poverty sentence, and holding politicians to account. Communicate with your local representative, tell them what you expect of them, and if they don't do it, join a party and stand for election yourself on a platform of living wages and taxing the rich!
It’s wise to pay attention to what happens to the rich and wealthy because that always reflects what will happen to the poor.Every time when newer rich and wealthy people are created translation every time when the same people that are rich and wealthy become more rich and wealthy more poverty is created.This is mostly seen in developed countries that run a top-bottom pyramid scheme economy where is that only the top 15% will be well off while the bottom 85% work harder and hustle more living paycheck to paycheck and still not getting ahead.I don’t think poverty will go away anytime soon in countries like here in the USA,Canada,United Kingdom,Australia these developed countries are reluctant to keep majority of people financially deprived.Here in the USA this country is made up of all kinds of different ethnic groups we are even having more Asians and Indians coming in too besides Latinos and Hispanics but I did some research recently and found out that 72% of all wealth in America is still only concentrated in white people.Im not surprised by this even though they don’t separate us by race anymore they separate us by income,status and class.Because most younger white people are much poorer than the older generation of white people and that is a huge sign a major shift is happening right now in wealth.So another study I found out is the top races that will be prospering later on the most by 2050 they have Asians,Indians at the top followed by yes black Americans and Africans and middle eastern people.Yall won’t believe the races that are at the bottom which are the whites,Latinos and Hispanics.
It's not the simplistic. Take Musk for example. He's classed as a billionaire, but most of the wealth is tied up in Tesla and it is value he created out of nothing, it isn't a zero sum gain. Look at the value it provides through innovation in self-driving and EV technology. Then on the other hand, there is housing. Take the UK and Ireland as perfect examples of where privatising home construction and ownership almost completely has been an absolute disaster for society. Another factor, meanwhile is mass immigration. The population in the Republic of Ireland has increased by 1 million since the 90s, mostly through immigration. House prices are higher than ever now, it's a complete disaster. Still, half the wealth is owned by a couple of billionaires.
This is deep
Good morning
Yes, I was groomed at a young age too.
The game is the game.
Yea I just don't want to be poor too.
Financial stability is pretty awesome.