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Before i even get into today’s video let me just say first and foremost like i’m super thankful for everything i’d be able to accumulate everything i’ve been able to gain if it wasn’t for god it wasn’t for the family and friends i have around myself and none of this would have been possible well out of being inspired by casey neistat who put out a video today i saw
That’s basically around being poor versus being rich i thought i would do a video because i’m someone that’s been poor in my life i’m some of this but most of my life that’s kind of like someone in the middle class and nowadays i’m rich and by the way there are levels to being rich ok i’m like lower class rich let’s keep that in mind ok just like there are levels to
Being poor right for to someone in the united states might be different than someone that in a third-world country or something like that right there are levels to everything in this game even in the middle class there’s kind of like you’re in the lower middle class or you could be in the upper middle class right and when you’re rich there’s also different levels ok
I’m very like very lower-class rich let’s put it that way ok so i thought it would just kind of take you guys through like what are the differences what can you expect as you kind of climb the ranks and don’t get excited if you expect some things and it doesn’t turn out that way once you reach the levels that’s just what i’m going to be honest with you guys ok now
As far as the same as far as the mentality or just how i felt and things like that or what happened in life as far as being poor versus being rich there’s no difference in happiness i’m just gonna be completely honest i’m the same level of happy when i was poor or middle-class as i am nowadays that i’m you know someone that’s rich ok i think a lot of people think
That if they just get to become rich if i could just be a millionaire someday if i could just be part of the 1% oh my gosh my life would be so great i would be so happy and i’m just gonna tell you it’s completely bs ok if you were miserable as a poor person or somewhere in the middle class you’re probably gonna be miserable as a rich person that’s why you see a lot
Of people that are rich and you’re like why are they always so grumpy why do they complain if you’re someone that’s involved yourself who in that type of class right where you’re around those type of people either because there’s work or because those are family members or friends you know and you might as see them you’re like man they got so much money why are
They depressed or why aren’t they happier why aren’t they’re smiling why they always complain about something it’s probably because they were that same person when they’re back when they were poor or back when they were middle-class it’s just cuz you get rich doesn’t mean automatically like all your feelings inside get fixed maybe in the very short term those things
Can kind of go away but i’m just telling you if you expect to like get read you’re gonna also be happy and you were miserable before it’s just not the way it goes guys i’m gonna be completely honest with you and that’s coming from person after person if you were happy when you’re a poor or middle-class you were happy in life like you’re gonna probably still be happy
When you’re rich and if you’re miserable it’s probably gonna be the same thing okay there’s also no difference in drive for me personally like when i was just as driven when i was poor or middle-class as i am nowadays the drive is still there maybe the drive is maybe a little more amped up but i can’t really say that like i was always hungry and still this day that
I’m doing great in life i’m still hungry and generally speaking like just because you reach a certain level you’re probably still going to be hungry there are certain people that maybe have a level like if they get a million dollars they’re like they’re like happy at that point in time right for me personally like there’s no difference like i’m just as driven now
As i was back then and as far as stress it’s still about the same like as far as dealing with stress levels it’s still about the same you’re gonna have stress as someone that’s rich and you’re gonna have stress to someone that’s poor there’s just different stresses right when you’re poor you might be stressing over oh my gosh how am i gonna pay the rent this month
Or how am i gonna pay this cell phone bill over here a man i wish i could eat at this restaurant but i can’t even afford it you might have those type of stresses as someone that’s poor right but it’s someone that’s rich your stress has just changed to other things okay because you have more money coming in those type of things are a lot more things to worry about
You might have people around you that you like are they safe and in money things like that right so as someone that’s rich you use your stresses just change it and the stress goes from oh maybe i should make this move or that move versus of men how am i gonna pay the rent this month or something like that okay now there definitely are quite a bit of difference is
Okay first one is i had to make connections there’s someone that was poor or someone that was even middle-class i always had to make connections if i wanted to be in contact with somebody i had to personally make that connection i remember when i started my real estate marketing company every connection i built i had to build that okay no one came to me i had to send
Out the emails i had to do the cold calls i had to meet with people and that’s unfortunately just how it is when you don’t have a lot of money nowadays connections come to me i don’t have to make connections with anybody actually it’s too much nowadays every day i wake up to emails of people just trying to make connections with me and there could be a cool thing but at
The same time sometimes it’s just honestly too much okay so there’s definitely when you when you reach certain levels all sudden everybody starts coming to you when you’re poor in your middle class no one comes to me you you have to remember literally like sending out emails i was sending out a hundred emails to realtors when i first started my real estate marketing
Company right and i was just hoping that like one would get back to me if just one got back to me that would be a success for that day man and now pretty much anybody that i would even be interested in making a connection with they come to me first and foremost it’s a it’s a whole different ballgame okay also i didn’t have many investing options as someone that’s
Poor i remember when i first started like looking into investing whatnot it was like what options are there i had like a thousand bucks saved or whatever and so the only way for me really was stock market investing because like savings accounts and checking accounts things like that like that you don’t make any money on your money real estate investing was totally
Out of its i didn’t have enough money to get started whereas nowadays when you when you have a lot of money basically there’s almost like too many investing options there’s too many things to make your money it’s not just stocks but it’s also real estate it’s also thinking about should i start another business should i put 10k to start this other business over here
Should i put 50k 100k to start another business also certain things will give you the higher percentages of returns on a savings account or something if you put let’s say a hundred thousand dollars in account or a quarter million or something like that so all of a sudden you go from there’s not many investing options when you’re when you’re kind of you know someone
That’s poor you know how much money it’s awesome you’re rich and it’s like it’s too much at a point i’m it’s like there’s so many things you’re always thinking about maybe i’m not making the right the right move here maybe i could make a lot more money if i stuff this 100k over here instead of over here or something like that all sudden the options you know open up
In a big big way and it’s hard to decide like what’s your best option there okay i always say when i was poor middle class i was much more of an introvert i would say nowadays i’m much more extrovert maybe that just happens to be like it the fact that i’m older now maybe it happens to be that i’m on youtube and things like that i don’t know what the reason is but
I can just tell you a much more outgoing of a person now i like conversating with people much more now and kind of sharing ideas and things like that then back when i was a poor person or middle class so i don’t know what it is maybe it’s the money that kind of changed me and made me more of an extrovert maybe i just felt more comfortable and myself i have no clue
What it is but there’s definitely been a big change as far as that goes with me okay when you’re poor you can’t create any jobs like i couldn’t create any jobs when i have much money nowadays a great feeling like if i want to create a job if there’s something i need done out there and i want to actually hire an employee like i can make that move because i got the
Money to do that and that’s a terrific feeling not just because it’s something that i need done but also it’s the mere fact that also i can you know help someone else kind of level up and become better in life and things like that like that’s just a good feeling when you can actually create jobs and it’s like oh my gosh if i hire someone paying four thousand bucks
A month or five thousand bucks a month or whatever that’s gonna sink me or something like that nowadays is just like whatever if i need it done and it’s a great feeling to be able to create jobs that’s probably one of the best things about having money is that ability to actually create jobs okay that’s the one that’s poor middle class you have to do everything
Yourself i do everything myself for the longest time okay and then when you become rich and you have a lot of money you can start hiring people to do all your stuff and i’m not even talking about like direct employees i’m just talking about you like you can start having tax accountants you can start having lawyers to kind of check things out hey are we all legal
Here is there gonna be any issue here and things like that you can start actually hiring out when you’re poor you don’t have a money to hire a tax accountant you don’t have money to hire a lawyer you don’t have money to check into hey how could we get this tax credit so we can make even more money hey how can we make this business formation over here so we get
Even more money when you don’t have money you just don’t have those types of connections and whatnot and you can’t pay those type of fees that basically those lawyers costs or those tax accountants or all those type of things right but when you have money you can basically hire your people to do all that stuff and that’s a that’s a great thing because you start
As you make more and more money a lot of times you start getting busier and busier just because you have so many other things going on that all of a sudden it starts getting hard to do all this stuff yourself so the fact that you can hire is a great great thing okay i would say when i was poor i was super frugal like ridiculously frugal like i was a type person
If i had to be an even middle class if i happen to go out to eat or something like and i was calculating that bill and make sure i didn’t tip any more than 15% i was like 15% that’s it that’s just so like a one thing that i was like super frugal about but now i would say i’m much more giving like we go out i’m like i’m tipping 25% or something like that and if i
Get great service i might tip 30% or 50% or something like that because i have double type of money that i feel like i can give somebody a great part of their day by getting a tip that’s 30% or 50% on a bill that’s a hundred bucks or 150 but the great is it’s just a good feeling for me kind of helping out and i just remember those super frugal days of just like
Calculating stuff and things like that you could be much more generous when you become rich which some people it really exposes you as you get more and more money as you get rich there are kind of two ways you can go you can either go the more greedy route and you get even more greedy as you get more money or you can become more and more generous as you get more
Money money just really exposes who you really are at the end of the day once you actually become rich and whatnot you’re just you’re just gonna be exposed if you’re a more generous person you’re gonna become a lot more generous when you’re rich if you’re really that type of person that’s all about greed and just taking taking taken and never giving back anybody
To your in your community or other people or hiring jobs or things like that like that’s just gonna be exposed at the end of the day okay i so wish everybody could be rich cuz everybody could just be exposed i always hear so many people saying oh man if i just had ten million i would give it all away to charity and this and that i so wish everybody could be rich
Just so we could see who’s truthful and who’s just talking black this one’s probably the biggest okay when i was poor in even middle class i had scarcity mindset scarcity mindset is gonna cost you a lot of money it’s basically a mindset where you think there’s only a certain amount of money out there and oh man it’s like impossible to make like more than 50 grand
A year or more than 100 grand like i can’t even imagine that and if you’ve never done it and you haven’t really been around people who had done it you’re gonna probably grow up with a scarcity mindset and i had a scarcity mindset probably all the way up until about a year and a half or two years ago that’s when my mindset started to change i started getting around
Different types of people who had a lot more money than me and whatnot and we’re making you know hundreds of thousands a year or millions of dollars a year and all of a sudden i got into an abundance mindset and that’s really the type of mindset you want to have it’s just really hard to get there if you’ve never done it yourself and if you’re surrounded by just
You know people that are don’t have much money it’s it’s really easy to get in that scarcity mindset and all my gosh there’s only so much money out there i could never make this or that also once you start involving yourself with other people and once you actually start achieving it you switch to an abundance mindset you realize like there’s a lot of money out
There man there’s a lot of money for you to go out there and make okay and this last one’s a huge negative okay when i poor and also when i was middle-class i had much of a growth at all cost type mindset which is a horrible mindset to have okay growth at all cost means you are willing to take any risk with your money just to try to level up to the next level
Okay if you got a hundred thousand you’re trying to get to two hundred thousand or if you got ten thousand dollars you’re trying to get to that twenty thousand as fast as possible it doesn’t matter what type of risk you got to take you’re just trying to get growth at all cost and i had this mindset for a long time and this mindsets what held me back in the end
Of 2014 going into 2015 i said up a margin account and i lose a massive amount of capital in a very short amount of time because i had this growth at all costs i was like i want to grow from two hundred thousand to a million dollars overnight or in a year or something it was so unrealistic nowadays i have a growth with discipline mindset which is the mindset you
Should have really don’t matter where you are in life whether you’re poor middle class rich it doesn’t matter you should always have a growth mindset with discipline making sure you’re not taking unnecessary risk because otherwise you’re just gonna keep taking a you know ten steps back yeah you might leap forward for a bit and then you’re just gonna end up taking
More and more steps back because you’re gonna take these unnecessary risk you’re gonna end up costing yourself a massive amount of money and also you lose half your wealth or a 3/4 your wealth in a matter of a year or two and you’re like what just happened okay that’s not what you want you want growth with a discipline mindset and from my perspective that’s kind
Of differences i’ve been seeing well you know basically between being poor or middle-class and being someone that’s now rich okay and there’s definitely some similarities there i hope you guys kind of enjoyed just kind of getting inside my mind for a minute and me just sharing like my perspective on this so anyways i hope you guys atif whatever it is you want to
Achieve whether it’s you know become rich and driving lamborghinis and ferraris and having a mansion or whether it’s even getting a lot of money and just having the freedom that you can do whatever you want to wake up every whatever time you want and things like that or if you just want to be middle-class like there’s nothing wrong with that you it’s your life to
Live and you can live it how you want guys so anyways thank you for watching and have a great day
Transcribed from video
Being RICH vs Being POOR – The Truth By Financial Education
