what are the seven things that rich
people buy that the poor and
middle-class
don't you see one of the things that
differentiates the rich from the poor
it's not just because of money it's
because they have assets rich people
they buy and they own and the acquire
assets middle-class they buy liabilities
thinking their assets and poor people
they only have expenses today I'm going
to share with you seven types of assets
that rich people buy acquire and own and
I'm not going to define assets as in
traditional accounting terms when you
talked in Camden and they will explain
to you what types of asset classes they
are I'm gonna define it the way that
rich people that the way that we see
assets that are very very different how
most people see it by the way if you
have not ordered a copy of my new book
unlock it mixture clicking link
somewhere here and order a new book
where I go much more in-depth how do you
unlock your financial confidence and how
do you acquire wealth number one the
first type of asset that rich people
have that the poor don't is business see
most rich people almost all of them
either they make their money through
their companies and business or they
have an invested interest in multiple
companies or multiple businesses so once
you think about it versus poor people
all they have is a job they have a
paycheck at the end of the month you'll
never get rich through a paycheck you
only get rich through a business on
multiple businesses why because it's the
only way you can apply leverage you can
leverage other people's time money
resources and talents to build something
to make your vision a reality that your
earning ability is not tied to how many
hours that you work you're able to
leverage one to ten one to 100 one to
five hundred to build a bigger business
to be able to impact more people and
deliver more value to marketplace in
exchange of money that's what a business
does so that's the first
as a class business number two the
second type of asset that which people
buy that the poor don't is arts and
antiques now this is an asset class that
I know very little about
I cannot tell the difference between a
hundred dollar painting versus a hundred
thousand dollar painting I have no clue
this is an area that I am like a
complete idiot my art collection would
be my hot toys and an Iron Man
collection although my wife Jenny would
argue that is not an asset class well to
me it is an asset class number three the
third asset type that the rich buy that
the poor don't its automobiles now a lot
of people they buy automobiles just for
transportation but the rich sometimes
they buy for collection because they get
pleasure driving them owning them or
fixing them repairing them selling them
done properly this could be a very
lucrative thing that you do but most of
time my friends I notice that they just
because they have a passion for
automobiles or classic automobiles they
do it just for fun but because they
collect them they buy rare automobiles
and when they sell them they do make a
nice profit from it it does turn into an
asset class but for me I just do it for
fun
number four real estate this is the most
popular asset class amount of rich most
rich people that either make their money
through real estate or they park or hold
their money in real estate now when it
comes to real estate there are so many
different types of real estate you have
residential all you have commercial
residential I'm talking about condo or
single-family home commercial real
estate I'm talking about malls hotels
right offices multi-family two very
different types of real estate and
within real estate you have so many
different types of strategies do you buy
and hold your buy and flip do you
develop right do you do air B&B depends
on what it is that you want to do and
how much capital you have and where you
want to go now why do so many rich
people have real estate or they park
their money in real estate it's because
the banks the lending institutions they
love real estate they will loan your
money to buy real estate right they like
the security of real estate they feel
like that's that's a hard assets it's an
intangible asset that they like to lend
money on and that's why a lot of rich
people we either make their money in
real estate or we hold our money in real
estate number five the fifth asset class
that rich people buy that the poor don't
is paper assets I'm talking about bonds
mutual funds and stocks now when it
comes to assets sometimes we buy assets
because it produces cash flow or
dividends in some cases we buy assets
and we hopefully it would increase in
dalian over time that's called
appreciation so when it comes to stocks
except it's like dividend stocks but
stocks mutual funds and bonds we are
buying it in a certain price and
hopefully it'll go up later in the
future
we are betting we are buying on the
appreciation you see with paper assets
you can turn that into money very very
easily let's say compare that to a piece
of real estate in order to convert a
piece of real estate into money well
maybe in to list the property in a cell
it takes time or even if you want to get
a loan get a mortgage the second
mortgage from the bank it takes time but
with stocks with mutual funds you can
sell that and turn it into money very
very easily number six there's six as a
class that rich people buy that the poor
don't is intellectual properties I'm
talking about patents trademarks brands
copyright any other intellectual
properties that you might have see this
is an asset class that I love I own a
lot of intellectual properties the
reason I like intellectual properties
it's because the ability you can scale
you can license your intellectual
properties to somebody else but also the
maintenance fee it's very very little
compared to other asset classes I can
also duplicate and replicate what I do
too
able to surf way more people so
intellectual properties Disney has a lot
of intellectual properties coca-cola as
a brand the brand itself that's an
intellectual property the bread itself
is actually worth more than the actual
hard assets that coca-cola owns the
brand coca-cola is worth billions and
billions of dollars number seven the
last thing that rich people buy that the
poor don't is precious metals I'm
talking about gold silver platinum this
is a gift from my mentees from Australia
24k gold go now goal is very very
important you notice when the currency
of our dollars it depends on what
countries you're coming from rich people
they like to have the money in gold
because throughout history you notice
that gold is the currency it is the
asset class that is recession-proof so
it's a very very important asset class
that in your portfolio you have to think
about so precious metals those are the
seven things that rich people buy that
the poor don't I want to give you a
bonus and this is a new asset class what
am I talking about asset number eight
and that is audience that's right
audience is the attention is the new
currency to be able to have an audience
you see this through social media
influencers who have audience that
they're able to captivate other people's
attention their audience attention it is
worth money that's how they're able to
generate income and profits and money
from what they do attention is the new
currency because with our attention you
will not be able to get customers and
without customers you won't have any
sales no sales no money no profits it's
that simple a lot of people dating they
collect this asset class and I believe
this is an asset class that a lot of
people even rich people ignore and
overlook this is an asset class that you
can scale and expand very very quickly
to have ten thousand people twenty
thousand people fifty thousand people a
hundred
people paying attention to your message
your cause what you are focusing on what
you want to promote even if you want to
promote charity your foundation you need
attention you need audience money alone
doesn't just get your attention
attention is attention money alone is
not enough but to be able to get
attention you can convert that into
money you convert that into profit and
this is asset class that could grow and
grow and grow and there's no limit
there's absolutely no limit by the way
if you want to learn more about how I do
that get a copy of my book and lock it
published by Forbes books where I go
much more in depth I talk about this
currency this new currency that even
successful CEOs don't know much about so
go ahead clean a link here and get a
copy of my book