Hello Aluxers! What's your plan for all the money coming your way? Skip the waitlist and invest in art like the rich: www.masterworks.art/alux Time to get serious about your life: www.alux.com/app
The best things don't need to advertise so much because they sell themselves. Makes the Alux app look cheap if you keep pushing it - like a used car salesman.
00:00 - Intro 00:46 - Don’t tell a soul! 01:35 - Get rid of high interest debt immediately! 02:10 - Max out your retirement 02:49 - Instead of paying off your house: 75% of it should go towards rental properties 03:42 - Instead of going on holiday: 10% to alternative investments with proven track record 05:20 - Get an accountant or tax advisor to make sure everything is by the book 05:59 -Don’t screw around - now you have something to lose 06:44 - Control your spending urges 07:51 - Consider inflation and adjust for it 08:40 - You gotta get smart about money 10:10 - Consider the lifetime cost of ownership for the things you buy 11:44 - Do not give away parts of the principal to your family or friends 12:42 - Do not give away a portion of it to charity 14:20 - Move the money out of the country 15:14 - Develop a vision for the rest of your life
CPA here 👋 if you want proper proactive tax planning, it will cost you 2k a month not 2k for the year. If you do come into wealth, especially if you're a US person, you need to create a tax exempt private foundation, an onshore trust and offshore trust. If you know you're coming into money soon, get those trusts set up asap first and where possible whereever the money is coming from, try to have them pay in the name of the trusts. If the money is coming from overseas, you have your offshore trust take the income so you've created a tax deferred situation. Overall the trusts and private foundations generally help you with asset protection from civil suits. I just gave a ton of high level advice for free that would cost you tens of thousands of dollars at least.
Thank you for this. What would you say is the lowest dollar amount of windfall needed to prepare as you described? For instance, are the trust(s) and private foundation needed for 250K, or 500K, or is this more appropriate for 2-3 million and higher?
@@BGL333 you're welcome. I would say if you're fairly certain that you're going to generate millions or more over time and starting in the near future, I'd say once you bank 250k to 500k that you don't have any immediate needs for, that might be a good time to start looking into it with the right attorneys around both private foundation and the trusts.
I can't fathom giving someone else distinctive rights to my money. Setting up a trusts feels / seems risky to me. Remember that "Lottery Lawyer" guy? He's in jail!! Their trust of him setting up trusts for their lottery wins was a scam, and he was given the legal rights to maneuver their money how he saw fit. Yeah, right into his own pockets and his mob friends pockets. My guard is always up regarding other people having a say of how my money is handled / invested.
This is GOLD. No one is coming to save you, bitter truth. Do away with procrastination. If you take your life seriously, you will see a permanent improvement. I started and learnt consistency at 32, wasn't easy to inspire myself guys, but today I have over $3 million in my retirement savings at 40 after buying some shares.
Congrats on the win man! I am on the same path and It's not even that hard to do. Too rigorous for newbies, maybe, but thats why its advisable to consuIt with good a market strategst.
Agreed. I deal with an investment advisor for this reason. I currently have over $880k invested in a diversified portfolio that has grown exponentially and is suitable for all market seasons. Our current project for this year is a more concrete ballpark target. Personal best so far.
Making money is not the same as keeping it there is a reason why investments aren't well taught in schools, the examples you gave are well stationed, the market crisis gave me my first millions, people shy away from hard times, I embrace them., well at least my advisor does lol
I diversified my 62K portfolio across multiple market with the aid of same Investment-Adviser & I have been able to generate over 356k in net profit across high dividend yield stocks, ETF and bonds in few months.
My Financial adviser is ‘’Colleen Rose Mccaffery’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
getting into Investing to create a passive income should be priority of every financially literate person...I made my first million from having a secured diversified portfolio that spread across stocks, grade bonds, coins and etfs.. ever grateful to Susan Kay Mack my CFA handling my portfolio. smart investing is key
Dog! 😂 If $500k fell into my lap, not a soul would know. Stealth wealth is absolutely where its at! Thank the non existing deity that Alux is able and willing to put helpful information out there!
Dog! I work at an estate planning law firm in the Wealth Strategies Department so I have some experience in planning for sudden financial windfalls… I have a couple comments respectfully, this is not legal advice, just my experience from my time working in this space: First things first, the best way to plan to safeguard for financial windfall is to PLAN AHEAD of your monetization event.. much more can be done ahead than can be done after the fact 1) Find a law firm that does this kind of planning 2) Yes, while having bad debt is inherently “not good” it’s not always best for clients to pay off “bad debt” if they have a low enough interest rate because the money is cheap. It makes more sense to keep the cheap debt and use the cash they would have spent paying it off to acquire more assets (every case is unique) 3) We’ve never recommended our clients max out their retirements, ever When you’re dealing with higher net worth individuals, they’re likely in the highest tax bracket, meaning you’re advising that they stash money into an account that 50% will end up going to the IRS in the end and that’s not the goal. We utilize cash value life insurance as a retirement supplement to avoid this 4) paying off house - same as above, if it’s cheap debt purchase more assets 5) Our firm ensures all high net worth clients have a close advisor relationship to manage to investments 6) same with a CPA / accountant - ensuring everything is by the book ensures that all tax advantages for various entities remain in tact 7) We utilize a variety of trusts and entities to ensure money remains safeguarded and passes from generation to generation & a number of them have a charitable component, it’s not about “not giving away to charity” it’s about how we can maximize the benefits of charitable giving for both parties 8) the majority of our clients have estate taxes to worry about on top of cap gains taxes or income taxes from a monetization event - sometimes the best strategy does include gifting to relatives utilizing various trusts but we include guardrails to protect those relatives from themselves Lastly, vision is the most important factor 🙌🏼 completely agree Again, not legal advice, but if you’re reading this and you have a windfall coming, seek professional help 🙏🏼 God Bless Alux, thank you for all you do
Dog, that was some of the best financial advice I’ve heard. Back when I was poor I listened to an Econ teacher from the U of M. I followed some of his advice and invested pretty aggressively for over 20 years. Best plan ever!
1. Don't tell a soul 2. Get rid of High interest debt immediately 3. Max out your retirement 4. Instead of paying off your house, 70% of it should go towards rental property 5. Instead of going on holiday. 10% to alternative investments with proven track record 6. Get an accountant or tax advisor to make sure everything is by the book 7. Don't screw around - now you have something to lose 8. Control your spending urges 9. Consider inflation and adjust for it 10. You gotta get smart about money 11. Consider the lifetime cost of ownership for the things you buy 12. Don't give away parts of the principal to your family or friends 13. Don't give away a portion of it to Charity 14. Move the money out of the country 15. Develop a vision for the rest of your life
D O G Take care of my health problems and medical needs. Any perceived cosmetic or vanity needs. Get, for myself, the best health insurance. Get best dental treatment and international medical insurance.
Getting rich is easy if you understand the little basics involved, and one of the simple basics is getting multiple income streams. I'm rich today because I was involved in different income streams like real estate, stocks, crypto and more.
Very interesting, I don't have any knowledge on these please, I'm thinking of investing on Bitcoin but i need a professional to guild me through on it so i will start
Excellent points! I completely agree about the importance of investing in rental properties, keeping your assets private, investing in art and starting your own charity or covering the invoices yourself to make sure the donations are directly deployed by the recipient.
First thing know the difference between money and currencies. Money is a store of value. Currencies loose value over time. Saving currencies is like using a leaking gas can. Clearly something the people at Alux haven't learned. The dollar has lost 50% of its value in 30 years. How much will your retirement loose and cost of living increase? Second thing get rid of debt. Third get rid of bills. Fourth learn to live cheap. Maybe buy or build a passive solar house to get rid of utility bills. Look for stores of value. If you have skills the tools to go with those skills can be a store of value. Some invest in art. But entertainment is first thing people cut out of a budget. We all need water, food, shelter, first aid/medication, means of defense, and a plan. Looking to retire at 50 or sooner. Move out of currencies and into money. If you don't hold it you don't own it. I don't do rentals it's less headache to flip. Only paying once to have them fixed up and not paying taxes and up keep. I have recently got 2 rentals fixed up for landlords. One to sell. About to fix up another that failed bank appraisal. I make more off other peoples rentals than they do.
Dogg❤ ! Priceless insights ,and btw something screamed in me when I heard "don't give your money to charity "😂 I was like ,yessss finally! Cause i've also seen it all my life as not being a solution to poverty .So it was very releaving to know I am not the only one that thinks that way,Thank you Alux!
Great advice, never tell people things they don't need to know. Where the money and investments are will only incite greed. Too many weathy people have been defrauded by people who proported to be financial experts. The thing that I love abought wealth is the freedom to come and go as I please when I want to. To never have to worry about a car problem or an appliance problem. Learn to be your own money manager and stay away from the Bernie Madoffs of this world.
Agree. All lawyers, accountants, "financial advisors" are working in their own best interest - not yours. Learn to manage money responsibly so you can live off the interest and never touch the principal. It's not rocket science, just need a little common sense.
Great point about chairity! 15% gets to the end need so no wonder all these problems never go away! Give directly to the need and its 667% more effective. Not mentioned is this also feels better than writing a check to a faceless non profit. Much more time consuming but maybe at that point your time is better spent on this than grinding for more wealth
The most important thing that should be on everyone's mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the world. This is still a good time to invest in various stocks, Gold, silver and digital currencies. I never imagined that a few thousand dollars per month would add up. However, it is. I've made around $600,000 since 2020.
I really like what you have done in Uganda, I live in South Africa but I am from the Kingdom of Lesotho and I think there are valuable use cases for assistance in my native Lesotho. To your point I don't belive in entrusting funds to politicians and other people who may divert funds...
Get yourself educated regarding investments. Under no circumstances walk to any bank to manage your money. At the bank, you will see it decreasing, making you poor.
Addition to charity giving - If you are rich and have a plan not to give 100% of your inheritance to your children but instead give them to charity, I would say that is highly absurb and selfish. Your children should be entitled to your full inheritance as much as possible, and if you have trust issues with your children I would say that is your fault on not teaching them the right way of discipline since you forget that your children, starting from the beginning of their birth, are YOUR RESPONSIBILITY AS A PARENT!
Exactly!!! As soon as people find out you have money, they set about trying to get your money. The best advice I can pass on is before you send any of it, categorize it. Make a budget and even your extra money, or your spending money, give it a job so if anyone asks for money, you don't have any for that. And stay away from credit cards and loans. Only use a trusted bank for a loan if necessary and, if you can, have the cash but take a loan out again cash to still get the dividends. And when buying things like cars or homes, don't forget to take into consideration all the expenses it's going to cost; utilities, insurance, taxes. I think that's where most lottery winners go wrong, they want the big house and expensive cars, but forget to figure in all the bills that come with it.
when i came into money i changed my mindset not my clothing, car or lifestyle i carried on with the appearance of trying to make ends meet know bothered me for anything and mentally i developed financial wisdom and peace.
Oh, did I just hear you built a school in Uganda? Would love to know where this school is as I'm from Uganda, I live in Kampala, huge fan of your content, keep it coming
Please do a video on the mechanics of creating AND managing a Life Vision … and not just a discussion of this concept. Seriously, if this is a common thing that the wealthy are known to do, then there are physical actions occurring. So what are these actions, the tools used, who provides the various services, and how often do we work on the management of the Life Vision? Thank you in advance for helping us learn about these important financial tasks. 🙂
DOG…thanks for speaking on giving to charities…people think they are doing something good. Actually they are just making someone else richer. Be a part of the charity so you can make sure the money given goes to those in need…not those in GREED💯.
#4 I think Kiyosaki says this all the time. "Put your money into something that will make you money." Not sure who I heard it from, but remember a quote that if you want something, take a look at what it costs and invest in something that will pay you back that amount. This way, it is a recurring passive income and not a one-time expenditure. Plus, you set yourself up for potential tax breaks and write-offs down the road.
Thought this was just another one of those...you know videos! But the advice in this video is solid!!! Was not expecting it to be this informative, straight forward and HONEST!
Oh yes, buy a rental property and the tenants will pay off your loan.... except in California, where scammer tenants can get away with not paying you for YEARS and you can't get rid of them. What stupid advice.
Take the SIE course by FINRA Securities Industry Essentials. Read economic history. Get the Enrolled Agents reading list for the exams and read them. Do the CFE lay mans course.
It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
The part of not giving out money ( of course a one time donation) to charities confuses me. She said because they use it to pay staffs and take care of other of things and then only 15% of the money goes to let's say the Orphanage children they caring for. Wait a moment, aren't they supposed to pay the staffs caring for the orphanage children or those staffs maintaining the Facilities? Of course we want the money to go straight to the children in need, but it's the staffs that are making sure that those children are clean, healthy and being fed meal every single day. They ought to be paid so they can also take care of their families and pay their own bills. People working for charities doesn't earn that much.
The problem is most if not all of the money that's donated goes into the pockets of the people running these "charities/non-profits" and not towards the people who are in need. Even IF the money gets to its destination, there are people there who will take that money for themselves. The level of fraud and corruption is unprecedented. I'm sure there are legit foundations out there but it's the minority. If there's a charity or foundation you want to help, do research on them and volunteer to participate so you can see where your money is going.
I had money from my extremely cheap family members is highly unlikely🤡... I don't have money to splurge😔... I just can't keep up with the Tondses!🎉 CAT🦄
Hello Aluxers! What's your plan for all the money coming your way?
Skip the waitlist and invest in art like the rich: www.masterworks.art/alux
Time to get serious about your life: www.alux.com/app
The best things don't need to advertise so much because they sell themselves. Makes the Alux app look cheap if you keep pushing it - like a used car salesman.
did you just say, dont tell your spouse???? you must be american
I take this opportunity to urge you to produce an episode on Markus Notch Persson. It's crazy that you still haven't.
@@marydecouvertes3789 Who? The video game guy?
@@stevenporter863 The creator of Minecraft, yes.
00:00 - Intro
00:46 - Don’t tell a soul!
01:35 - Get rid of high interest
debt immediately!
02:10 - Max out your retirement
02:49 - Instead of paying off your
house: 75% of it should go towards rental properties
03:42 - Instead of going on holiday:
10% to alternative investments with proven track record
05:20 - Get an accountant or
tax advisor to make sure everything is by the book
05:59 -Don’t screw around - now you have something to lose
06:44 - Control your spending urges
07:51 - Consider inflation and adjust for it
08:40 - You gotta get smart
about money
10:10 - Consider the lifetime
cost of ownership for the things you buy
11:44 - Do not give away parts
of the principal to your family or friends
12:42 - Do not give away
a portion of it to charity
14:20 - Move the money
out of the country
15:14 - Develop a vision
for the rest of your life
You forgot one most important thing: invest in your health. You now have all the money to spend to live longer than you would ever dream of!
Exactly that the first thing
want to chat about it? want to earn more, help others with top notch Superfood combos, leaders, and comp plan?
90 essential nutrients is needed for long life, money isnt alone isnt gonna give you long life.. billionaire dont live any longer them most people.
Thats why billionaires drink baby blood
The mention it in othe videos!
🐶
CPA here 👋 if you want proper proactive tax planning, it will cost you 2k a month not 2k for the year. If you do come into wealth, especially if you're a US person, you need to create a tax exempt private foundation, an onshore trust and offshore trust. If you know you're coming into money soon, get those trusts set up asap first and where possible whereever the money is coming from, try to have them pay in the name of the trusts. If the money is coming from overseas, you have your offshore trust take the income so you've created a tax deferred situation. Overall the trusts and private foundations generally help you with asset protection from civil suits. I just gave a ton of high level advice for free that would cost you tens of thousands of dollars at least.
🙌🏼🙌🏼🙌🏼
Thank you for this. What would you say is the lowest dollar amount of windfall needed to prepare as you described? For instance, are the trust(s) and private foundation needed for 250K, or 500K, or is this more appropriate for 2-3 million and higher?
@@BGL333 you're welcome. I would say if you're fairly certain that you're going to generate millions or more over time and starting in the near future, I'd say once you bank 250k to 500k that you don't have any immediate needs for, that might be a good time to start looking into it with the right attorneys around both private foundation and the trusts.
I can't fathom giving someone else distinctive rights to my money. Setting up a trusts feels / seems risky to me. Remember that "Lottery Lawyer" guy? He's in jail!! Their trust of him setting up trusts for their lottery wins was a scam, and he was given the legal rights to maneuver their money how he saw fit. Yeah, right into his own pockets and his mob friends pockets.
My guard is always up regarding other people having a say of how my money is handled / invested.
Thank you. Well appreciated.
#16: If you win big and you're single, STAY SINGLE!!
THAT IS A GOOD ONE!!!!
This is GOLD. No one is coming to save you, bitter truth. Do away with procrastination. If you take your life seriously, you will see a permanent improvement. I started and learnt consistency at 32, wasn't easy to inspire myself guys, but today I have over $3 million in my retirement savings at 40 after buying some shares.
Congrats on the win man! I am on the same path and It's not even that hard to do. Too rigorous for newbies, maybe, but thats why its advisable to consuIt with good a market strategst.
Agreed. I deal with an investment advisor for this reason. I currently have over $880k invested in a diversified portfolio that has grown exponentially and is suitable for all market seasons. Our current project for this year is a more concrete ballpark target. Personal best so far.
@georgreh Please Who is the advsor? Hope you dont mind
’Amber Russell Bennett' is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
I will give this a look, thanks a bunch for sharing.
Dog,
Most people venture into crypto to be wealthy,meanwhile I just want to be debt free.
Talking about been successful. I know I am blessed if not I wouldn't have met someone is as spectacular as Anna S Wilson
She has helped me recovered a lot from the time I have trading with her
Yes I'm a living testimony of Anna S Wilson, her platform has also done a great thing for me
I met Anna wilson at a conference meeting here in Singapore.
@clintlucky8113Yes, you can start up with her and she is willing to help you start
I gained the most wealth not by acquiring more, but realizing that I could be happy with less. - Marcus Aurelius.
Making money is not the same as keeping it there is a reason why investments aren't well taught in schools, the examples you gave are well stationed, the market crisis gave me my first millions, people shy away from hard times, I embrace them., well at least my advisor does lol
I diversified my 62K portfolio across multiple market with the aid of same Investment-Adviser & I have been able to generate over 356k in net profit across high dividend yield stocks, ETF and bonds in few months.
@@Dannyholt33 That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
My Financial adviser is ‘’Colleen Rose Mccaffery’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Investments arent taught in school because investments are gambling and normal people shouldnt do it.
they should teach them how to save.
getting into Investing to create a passive income should be priority of every financially literate person...I made my first million from having a secured diversified portfolio that spread across stocks, grade bonds, coins and etfs.. ever grateful to Susan Kay Mack my CFA handling my portfolio. smart investing is key
The stock market controls a huge part of my passive income portfolio, I invest big and my profits come even bigger
I did read about Susan Kay Mack on the web., quite a great resume she has
I also think that we salary earners need to realize that monthly income will not make you rich.
Did a quick web search, she has a pretty decent bio, I wrote her and I'm waiting on her reply.
Dog
Buy physical Gold and Silver...... I can't believe that wasn't said ????
Dog! 😂 If $500k fell into my lap, not a soul would know. Stealth wealth is absolutely where its at! Thank the non existing deity that Alux is able and willing to put helpful information out there!
Dog
Dog! I work at an estate planning law firm in the Wealth Strategies Department so I have some experience in planning for sudden financial windfalls… I have a couple comments respectfully, this is not legal advice, just my experience from my time working in this space:
First things first, the best way to plan to safeguard for financial windfall is to PLAN AHEAD of your monetization event.. much more can be done ahead than can be done after the fact
1) Find a law firm that does this kind of planning
2) Yes, while having bad debt is inherently “not good” it’s not always best for clients to pay off “bad debt” if they have a low enough interest rate because the money is cheap. It makes more sense to keep the cheap debt and use the cash they would have spent paying it off to acquire more assets (every case is unique)
3) We’ve never recommended our clients max out their retirements, ever
When you’re dealing with higher net worth individuals, they’re likely in the highest tax bracket, meaning you’re advising that they stash money into an account that 50% will end up going to the IRS in the end and that’s not the goal. We utilize cash value life insurance as a retirement supplement to avoid this
4) paying off house - same as above, if it’s cheap debt purchase more assets
5) Our firm ensures all high net worth clients have a close advisor relationship to manage to investments
6) same with a CPA / accountant - ensuring everything is by the book ensures that all tax advantages for various entities remain in tact
7) We utilize a variety of trusts and entities to ensure money remains safeguarded and passes from generation to generation & a number of them have a charitable component, it’s not about “not giving away to charity” it’s about how we can maximize the benefits of charitable giving for both parties
8) the majority of our clients have estate taxes to worry about on top of cap gains taxes or income taxes from a monetization event - sometimes the best strategy does include gifting to relatives utilizing various trusts but we include guardrails to protect those relatives from themselves
Lastly, vision is the most important factor 🙌🏼 completely agree
Again, not legal advice, but if you’re reading this and you have a windfall coming, seek professional help 🙏🏼 God Bless Alux, thank you for all you do
I’ve had the app since day 1. I feel more inspired by your RUclips vids than the content on the app. Sincerely future billionaire
But nevertheless the content on the app is very essential and worth the price
DOG!!! Here comes Financial freedom!! 🙌 🎉
Dog!! Eye am wealthy 🌞😎💯🍾
Dog, that was some of the best financial advice I’ve heard. Back when I was poor I listened to an Econ teacher from the U of M. I followed some of his advice and invested pretty aggressively for over 20 years. Best plan ever!
Minnesota or Michigan?
Minnesota. He had a video series with his students on cable access.
1. Don't tell a soul
2. Get rid of High interest debt immediately
3. Max out your retirement
4. Instead of paying off your house, 70% of it should go towards rental property
5. Instead of going on holiday. 10% to alternative investments with proven track record
6. Get an accountant or tax advisor to make sure everything is by the book
7. Don't screw around - now you have something to lose
8. Control your spending urges
9. Consider inflation and adjust for it
10. You gotta get smart about money
11. Consider the lifetime cost of ownership for the things you buy
12. Don't give away parts of the principal to your family or friends
13. Don't give away a portion of it to Charity
14. Move the money out of the country
15. Develop a vision for the rest of your life
Charity donations can be a tax write off so that can be a better use of it than it going to the government.
D O G
Take care of my health problems and medical needs. Any perceived cosmetic or vanity needs.
Get, for myself, the best health insurance. Get best dental treatment and international medical insurance.
I’m praying for sudden wealth 😂🎉
Get Married to millionaire
I love a bottom less wallet!😂 5:55 If you bank with #MeridianCU💳 then your assets are safer and better interest rates than most big banks🇨🇦! 🌎💘💰
Getting rich is easy if you understand the little basics involved, and one of the simple basics is getting multiple income streams. I'm rich today because I was involved in different income streams like real estate, stocks, crypto and more.
Very interesting, I don't have any knowledge on these please, I'm thinking of investing on Bitcoin but i need a professional to guild me through on it so i will start
Search her full name
Frieda-Ann-Ellis
You will find her on google
Working with specialists like Frieda_Ann_Ellis in any pitch will likely result in improvements and profits.
Excellent points! I completely agree about the importance of investing in rental properties, keeping your assets private, investing in art and starting your own charity or covering the invoices yourself to make sure the donations are directly deployed by the recipient.
In the UK isn’t it 40% capital gains. And what if we are in a price bubble?
As for the 500k, I'd invest in income producing assets.
First thing know the difference between money and currencies. Money is a store of value. Currencies loose value over time. Saving currencies is like using a leaking gas can. Clearly something the people at Alux haven't learned. The dollar has lost 50% of its value in 30 years. How much will your retirement loose and cost of living increase? Second thing get rid of debt. Third get rid of bills. Fourth learn to live cheap. Maybe buy or build a passive solar house to get rid of utility bills. Look for stores of value. If you have skills the tools to go with those skills can be a store of value. Some invest in art. But entertainment is first thing people cut out of a budget. We all need water, food, shelter, first aid/medication, means of defense, and a plan. Looking to retire at 50 or sooner. Move out of currencies and into money. If you don't hold it you don't own it. I don't do rentals it's less headache to flip. Only paying once to have them fixed up and not paying taxes and up keep. I have recently got 2 rentals fixed up for landlords. One to sell. About to fix up another that failed bank appraisal. I make more off other peoples rentals than they do.
Dogg❤ ! Priceless insights ,and btw something screamed in me when I heard "don't give your money to charity "😂 I was like ,yessss finally! Cause i've also seen it all my life as not being a solution to poverty .So it was very releaving to know I am not the only one that thinks that way,Thank you Alux!
The bearable bull sent me here
Great advice, never tell people things they don't need to know. Where the money and investments are will only incite greed. Too many weathy people have been defrauded by people who proported to be financial experts. The thing that I love abought wealth is the freedom to come and go as I please when I want to. To never have to worry about a car problem or an appliance problem. Learn to be your own money manager and stay away from the Bernie Madoffs of this world.
Agree. All lawyers, accountants, "financial advisors" are working in their own best interest - not yours. Learn to manage money responsibly so you can live off the interest and never touch the principal. It's not rocket science, just need a little common sense.
DOG appreciate the info much-needed advice for when I actually experience getting a windfall.
DOG! Thanks for this good advise, and when I get my Millions this advise will surely help 😊
I definitely bought a rental property first 😊
With interest rates right now just put it in a 1 year cd at 5%. Gives you time to plan and takes it out of your hands to do something stupid with.
Man, Alux has become really pushy hasn't it? I remember when it was just good info, no bad deals.
Great point about chairity! 15% gets to the end need so no wonder all these problems never go away! Give directly to the need and its 667% more effective. Not mentioned is this also feels better than writing a check to a faceless non profit. Much more time consuming but maybe at that point your time is better spent on this than grinding for more wealth
Thanks. I just found 3 nickels in my couch. This video taught me how to manage my new found wealth.
My problem is the urge to share the good news knowing it's a bad idea. Hopefully when I do come into money I'll be able to keep quiet.
Trust me it’s a good idea😅
The most important thing that should be on everyone's mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the world. This is still a good time to invest in various stocks, Gold, silver and digital currencies. I never imagined that a few thousand dollars per month would add up. However, it is. I've made around $600,000 since 2020.
@sandrabeckham602 Linda Perez Lewis is a charlatan and a grifter who doesn't know her elbow from a hole in the ground. Prove me wrong !!
I really like what you have done in Uganda, I live in South Africa but I am from the Kingdom of Lesotho and I think there are valuable use cases for assistance in my native Lesotho. To your point I don't belive in entrusting funds to politicians and other people who may divert funds...
You're Not Wrong!
Get yourself educated regarding investments. Under no circumstances walk to any bank to manage your money. At the bank, you will see it decreasing, making you poor.
Addition to charity giving - If you are rich and have a plan not to give 100% of your inheritance to your children but instead give them to charity, I would say that is highly absurb and selfish. Your children should be entitled to your full inheritance as much as possible, and if you have trust issues with your children I would say that is your fault on not teaching them the right way of discipline since you forget that your children, starting from the beginning of their birth, are YOUR RESPONSIBILITY AS A PARENT!
Exactly!!! As soon as people find out you have money, they set about trying to get your money. The best advice I can pass on is before you send any of it, categorize it. Make a budget and even your extra money, or your spending money, give it a job so if anyone asks for money, you don't have any for that. And stay away from credit cards and loans. Only use a trusted bank for a loan if necessary and, if you can, have the cash but take a loan out again cash to still get the dividends. And when buying things like cars or homes, don't forget to take into consideration all the expenses it's going to cost; utilities, insurance, taxes. I think that's where most lottery winners go wrong, they want the big house and expensive cars, but forget to figure in all the bills that come with it.
All loans are fraudulent btw. Do some research and you'll be amazed at what you find out.
when i came into money i changed my mindset not my clothing, car or lifestyle i carried on with the appearance of trying to make ends meet know bothered me for anything and mentally i developed financial wisdom and peace.
Quite relevant and makes sense according to ones own situation ❤
DOG. I would sit down and re watch this video and take every applicable step to spend my money wisely.
Oh, did I just hear you built a school in Uganda? Would love to know where this school is as I'm from Uganda, I live in Kampala, huge fan of your content, keep it coming
Don't SUDDENLY dress more "RICH" and or buy a Ferrari, Lambo,etc. Low key is the key to be free!
Please do a video on the mechanics of creating AND managing a Life Vision … and not just a discussion of this concept. Seriously, if this is a common thing that the wealthy are known to do, then there are physical actions occurring.
So what are these actions, the tools used, who provides the various services, and how often do we work on the management of the Life Vision?
Thank you in advance for helping us learn about these important financial tasks. 🙂
Great list of things to do. Love the channel and looking forward to the app. 🐕Dog
So many gems as always, I am DAWG-minded when it come to digging them out 🐶
DOG appreciate the video🤝
Wealth is silent!
Alux keeps pushing their app. The best things don't need to advertise so much because they sell themselves.
Anyone else here obsessed with 25 Money Secrets From Donald Trump? It’s like discovering a secret treasure map for wealth!
DOG…thanks for speaking on giving to charities…people think they are doing something good. Actually they are just making someone else richer.
Be a part of the charity so you can make sure the money given goes to those in need…not those in GREED💯.
DOG. I would invest $500,000 in a dividend stock portfolio, bonds and maybe precious metals.
#4 I think Kiyosaki says this all the time. "Put your money into something that will make you money." Not sure who I heard it from, but remember a quote that if you want something, take a look at what it costs and invest in something that will pay you back that amount. This way, it is a recurring passive income and not a one-time expenditure. Plus, you set yourself up for potential tax breaks and write-offs down the road.
¡No decir un alma!
Total cost ownership
PAY THEM TAXES OFF FIRST. THANK GOD AND GIVE HIM HIS.
Unless you work for the govt, taxes are voluntary. There is NO law that states you have to. Majority of people don't know this. Do your research.
Im an Aluxer at heart. I just need the investment plays to execute
DOG and let's go! 🤑🤑🤑🤑🤑🤑
😊 Great 😌 information ℹ️ DOG 🐶 woof ❤
Thought this was just another one of those...you know videos! But the advice in this video is solid!!! Was not expecting it to be this informative, straight forward and HONEST!
Oh yes, buy a rental property and the tenants will pay off your loan.... except in California, where scammer tenants can get away with not paying you for YEARS and you can't get rid of them. What stupid advice.
DOG! 😂 Thank you, priceless insights!
That would be amazing $500,000. I would pay my Tithe, payoff debts, Save, and invest. 🎉
Billionaires create "foundations". And it's not out of the goodness of their hearts.
Take the SIE course by FINRA Securities Industry Essentials. Read economic history. Get the Enrolled Agents reading list for the exams and read them. Do the CFE lay mans course.
🐶🐕 dogs
Anybody given master works a chance
Treat yourself as if you're someone, you're responsible for helping,I caught that ✍️
Dog 🐕🐾
500000 ? Put some in T-Bills and upgrade my transportation . Live off of interest .
Dog! Thank you for this valuable advice!!
That was some good financial advices. Especially comparing one's life to a dog.. Good one..
Use this as a " Best Thumbnail" button.
Dog. How much money do I need to start investing in art
14:30 #great TQ
Dog 🐕 the best friend of mankind.
It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
Good recommendation as basic advice. Beyond that, there are a lot of qualifications, and different ways to save, depending on your specific situation.
Dogs are unconditional love machines!!!
The part of not giving out money ( of course a one time donation) to charities confuses me. She said because they use it to pay staffs and take care of other of things and then only 15% of the money goes to let's say the Orphanage children they caring for.
Wait a moment, aren't they supposed to pay the staffs caring for the orphanage children or those staffs maintaining the Facilities?
Of course we want the money to go straight to the children in need, but it's the staffs that are making sure that those children are clean, healthy and being fed meal every single day.
They ought to be paid so they can also take care of their families and pay their own bills. People working for charities doesn't earn that much.
The problem is most if not all of the money that's donated goes into the pockets of the people running these "charities/non-profits" and not towards the people who are in need. Even IF the money gets to its destination, there are people there who will take that money for themselves. The level of fraud and corruption is unprecedented. I'm sure there are legit foundations out there but it's the minority. If there's a charity or foundation you want to help, do research on them and volunteer to participate so you can see where your money is going.
DOG
DOG! I appreciate Alux greatly!
Dog! Thanks again and again about to claim my winning.
dog 🐶 🐶
all that art will do you just great when hyperinflation arrives and no one wants it.
I think i found out why you invested in uganda😂😂😂😂
To invest on yourself is the best investment
You can't do an awful lot with $500,000.
Dog 🐩 🦮🐕
buy crypto
Puerto Rico is in the country still as is in the US
D O G ❤
Now that I know exactly what the dog to do, just got to get the financial windfall part handled.
Great Videovas always. #dog
DOG❤😂😂
Snoop dogg
I had money from my extremely cheap family members is highly unlikely🤡... I don't have money to splurge😔... I just can't keep up with the Tondses!🎉 CAT🦄