what's the one thing that rich people
buy that the poor and middle-class don't
[Music]
so you see it on Instagram you see it on
Facebook you sometimes you see it on on
YouTube that you see them the rich
people they they have these nice watches
and they have the drive the Lamborghini
the Ferrari
you know the Bentley they stay in
luxurious hotels they have like huge
houses and all these things that they
buy but and that's what people see rich
people that's what they have but that's
not actually what got them there right
so what did they actually buy rich
people one thing that they bought is
they buy assets that the Poornima class
don't now what assets I'm talking about
income producing assets assets to
appreciate assets that would make that
money so example it could be a
we appease a real estate it could be a
an apartment building it could be a
company it could be stock any access
investments that would put money in
their pocket versus poor and middle
class what do they buy they buy
liabilities if you study little bit
about Robert Kiyosaki's Rich Dad Poor
Dad you know that the different
definition of assets is its assets it's
things that put money in your pocket and
most middle-class they buy liabilities
such as their home their primary
residence that they think is asset which
is not because the assets supposed to
make you money while you sleep
versus liabilities is to eat you it
takes away money from you while you
sleep and you look at poor middle class
you look at their financial statements
very often they have very little or no
assets zero assets and they have a law
liabilities their home their car and all
that stuff but they have very little
assets so rich people we buy assets
first then the assets buys our luxuries
which is the other way around I'll give
you a perfect example so instead of
asking yourself that oh you know save
yourself I can't afford that it's too
expensive rich people we don't that's
not how we think that's a very low level
poor person mentality I can't afford it
right rich people we asked a question
not only how could it afford it but how
can I make this make me money how can I
make this make me money so instead of
thinking let's so let's say for this car
so I could have just buy this Bentley
anytime but I waited for a period of
time because I said I go and say okay
and such as buying a liability I need to
buy the asset first so I need to buy an
asset then we're throw off enough cash
flowing like it's a real piece of real
estate enough cash flow that I know that
would cover my monthly payment of my
Bentley right so instead of me just
buying a
which then would I have to pay from you
know for myself on my own pocket I said
okay let me go through a step let me buy
the asset that one thing by the ass at
first when I suppose that's those enough
cash flow that pays for my luxuries that
pays for this particular debt we're
filming in so even though when this car
imma change to three years when this car
would I no longer drive it when I sell
it whatever it is guess what I still
have the asset that's working for me
that's they don't dance the difference
we buy rich people we buy nice things we
buy we buy the nicest things the
difference is we don't want to use our
own money we buy the assets first we
invest first we buy the investments
first then we buy liabilities the
definition of rich people the rich is
very simple which people we are
entrepreneurs who invest I'll say it
again we are entrepreneurs who invest
versus even if your business owner
instead of just buying stuff from your
business make the make their money from
your business first right and then you
get put into investments if you've
watched my wealth triangle video you
know I talked about the three stages
right if you have not watched that make
sure you click on the I button just
watch that first and you know what I'm
talking about so high income skills and
then I talked about your scalable
business I talked about high return
investments so rich people we are
entrepreneurs who invest so that's the
one thing that rich people buy to the
poor in the class do not let me give you
one more tip there's one thing that we
also buy that the poor and middle class
do not and that is rich people by time
poor people sell time rich people buy
time poor people sell time you think
about people who are struggling
financially or employee who are
employees they sell their time they get
paid based on time how many hours I get
how many hours I work how much do I get
paid per hour or how much do I get paid
per a per month or bi-weekly right
that's how most people think
rich people we don't do that we buy time
we buy time because time is the one
thing that you cannot replace this
second that you're watching my video
that second is gone that minute you
watch this video that minutes gone I
you can't replace it I can replace it I
cannot replace that customer is
replaceable money is replaceable time is
not I cannot create manufacture more
time money I can always make more money
if I have the time if I run out of time
I cannot do that that's why time to to
rich people is our most valuable
commodity that's why I hate it
when people waste my time it's worse
than stealing from me it's worse than
stealing money from me because money is
I can always make it back the minute
that you the minute that I waste I
cannot get it back and if you are used
the time wisely I could use it to make a
lot of money so the reason we buy time
we buy talents we by people we buy
people that could help us we buy we buy
people that could save us time right so
that's why there two hours you spend you
know cleaning your home or doing all
this stop mowing your lawn a quick a
quick story one time was visiting a
pretty pretty pretty successful CEO the
company's probably doing 20 20 30
million dollars a year and visit his
office and I went to his office and I
couldn't believe it the minute I got
there he was mowing the lawns in front
of his office I'm like what the was
that
right right there it tells me my god
this CEO does not value his time the two
hours he spent more in the lawns like he
could not have found better things to do
he could not have found better ways to
invest his time he couldn't find a
better way to to utilize his talents
he's mowing the lawn seriously
right it makes no sense when I talked
with him I was giving him a hard time
right so you don't so which people we
don't just think of return on investment
that's one of the words
you got to learn on why we turn we think
in terms that we turn on investment your
assets your liability but we also think
in terms of we turn on time invested we
turn on our TI we turn on time invested
that invest is time doing this thing
what's my return right so I know if I
spend two hours watching the movie that
movie doesn't then just cost me 20 30 40
dollars that movie cost me thousands of
dollars if not tens of thousands of
dollars then I know that when I watch a
movie I have to ask myself
you're not that I don't watch me I love
watching movies right but I know also
realistically that is not a $40 thing
right that cost me tens of thousand
dollars so then he's asked myself okay
it's the escape is the is that an
experience is that worth that kind of
money and I look at that I said okay you
know what it is it is that if I'm taking
the time off from spending with my
family that our cost me money but I'm
willing to spend that very consciously
versus people have no no concept they're
consciously I know that I'm investing my
time that's worth X Mun dollars with
spending my it's I'm not mid trying to
make money from this hour two hours I am
spending with them I am investing in
that time and when you think of it that
way guess what you'll be more present
that's why every time I watch a movie
rarely I see a movie it's like always so
bad no it's okay at least I can justify
little bit mentally that up this
movie just caught me $20,000
it's pretty good right it's not funny
there's $20,000 my time right so you're
joking aside but that's what it is
you got to think of it that way how you
value your time so that's what rich
people do rich people buy time and don't
if you don't value your time you're not
gonna be successful you have to value
your time everything Bill Gates has his
appointment booking six-minute increment
six minute increment in his calendar
that's a billionaire right my mentor has
his in 15-minute acraman
have my thing sometimes 30 sometimes
15-minute increment how you manage your
time how you invest your time your most
available investment that you have so
there you go that's what rich people buy
the one thing that they buy that the
poor and middle class that they don't
don't look at just what they have to the
fancy car and that's the thing before we
go
because maybe when you had no money
you've been struggling for so long you
have been working hard for so long and
suddenly when you make a little bit of
money and you you're the image that you
have about rich people all the nice
thing the nice car all the things that
they they have suddenly you make a
little bit money I'm not talking about a
lot of money a little bit of money and
you say I want a I've work 15
I've waited 10 to 20 30 years for this
it I want that life and you go
spend the money and you think by
spending that money that makes you rich
that makes you poor that doesn't
make you rich you only see the service
you see the result you see the outcome
you don't look at the process
look at how they got rich they buy the
assets first before they buy their fancy
watch they buy the investment investment
make some money
then they buy the fancy watch but you
don't want to do that you Sunday you
make a little money cuz you're so
insecure you got a big
ego you want to show the world you show
your family that you're quote
unquote made it which you haven't you
want to look rich versus be rich you go
buy the watches you know what
you wear that watch and you thought you
made it
everybody thought you made it you did
not make it you just made yourself poor
poor earth that's not what makes you
rich but if you can have the
self-discipline get the self-control and
say you know what I'm gonna I'm gonna
buy the assets first I'm gonna buy the
assets first once you buy that your
assets you can buy all the
luxuries you want your assets pays for
it it's okay
bothered by the nice things that you
want it doesn't qua will cost you
because your investments are
fighting for your investments are
feeding you it's making you money that's
the difference so think about that don't
just look it in so I want the nice
things it's not the nice thing is a
result that's the the next step first
you got a bill to perform I didn't have
nice things for the first 10 years of my
life it's only now I've like one cool
after all these years
okay now I have people see all yeah Dan
you got there I didn't had the
penny overnight I was driving a no
master for a number of years right then
Aldi not the Audi's bad company okay but
it's not a Bentley for a number of years
right only recently now enjoying life
and people look at the outdoor look at
where you are today but they don't look
at where you came from on down there
comment below share with me what's the
one thing that you think also poor
middle class by I'm curious to hear your
thoughts or people that you see that
poor middle class by share with us share
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I do just like this going to downtown
getting stuck in traffic and answer your
questions that's a good return on time
invested even in the car and just stuck
in traffic I'm making a video
for you right
that's how utilize your time that's how
you being smart with your time check out
my other boss in a Bentley video right
there we have a lot of like a lot of
videos you can check out a lot of
interesting questions a lot of
interesting insights until next time
I'll see my bending