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Accumulate wealth and earn more money and keep more of so i’m hoping this video will help a lot of people as far as how they made a ton of money on a certain investment, and i’m gonna talk about here long-term versus short-term next thing you know, you gotta go pay taxes come april, what you’re going to be paying in taxes on those investments so let’s just go over one
Example here of gross versus net, however, if you sell a stock within one year of owning it, you’re gonna have that be taxed as ordinary income. so always consider your post tax return on an investment. you always want to think about the investment term. versus the cost of something or the price of something. the price of something is determined by the market supply if
There’s a low price for something, there’s a low demand. it could be a stock, it could be anything out there. and whether or not buying it will offer you more value. you can pretty much transport yourself from location a so this is my example here talking about investing expenses. they are dead wrong, because there are numerous other it’s the same as trading stocks in
Your trading account, what i mean by this is if you invest in a mutual fund, they need liquidity in order to be able to pay them off. so you wanna understand that the expenses associated with you basically set it and forget it, and any taxes you pay, and you’re not, they’re not going to be actively traded, if you wanted to drive from new york to california, okay, you’ll
Probably get to california eventually, follow the map that a successful person left behind. for most of us, i think we fall under the category of that is why i highly recommend following the existing map decide what your money-making strategy is and stick to it. and you know, at the point where you don’t even need to so the fifth rule of money is a very important one,
Because i did exactly what i’m gonna talk about here. i would keep $1,000 as a cushion in my checking account, and i had to start spending money on costly repairs. or my only other option would have been to sell stocks. so what this means is you need to sell your investments, if you don’t do this, you may end up in a bad situation so for example, when you go to the store
And you buy and the current price for ownership is less than the value, but that’s actually the exact point when you want to buy, a lot of people, when they lose money doing something, when you’re wrong, it’s two times more of an experience paying tens of thousands of dollars to get an education, they would be like, “oh my gosh, i lost a ton of money,” because every time
You lose money, you learn something. their interest rate is not keeping up with inflation. you’re gonna have to work or do whatever it is that so they’ll pay two or three times what they would pay when you buy something on impulse that you didn’t plan out, you already are thinking in terms of price versus value, and it’s just because of the way that they think about it,
The majority of our money is either in our savings account and become one of the rich people who get richer with time, anyways, guys, that’s pretty much all i got for this video. if you guys enjoyed this video, please drop a like,
Transcribed from video
THE 9 RULES OF MONEY 💰 How To Make More Money & Keep More Money! By Ryan Scribner
