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Assorted YouTube videos, 7 New Rules of Money That Only The Rich Know

7 New Rules of Money That Only The Rich Know

Intro

2020 hasn't been easy.

Most people lost their jobs, struggled to pay the bills, and in the worst financial

shape than they were a year ago.

However, that wasn't the case for everyone.

Some people made so much money last year that it's even difficult to imagine that much wealth.

Elon Musk made over 120 billion dollars from January 2020 to December 2020.

I am not sure if he has realized that, but most people will never see this kind of numbers

except in GTA.

And that is not even his entire net worth.

If you consider SpaceX, the Boring company, and all of his other ventures, his net worth

could exceed the 200 billion dollar mark.

Elon Musk might seem like a nerd who doesn't care about money, but he is not.

If you take a look at his biography, you will realize that he has always been really good

with money.

At some point in his life, he spent 1 dollar a day on food so that he could invest enough

money into his startup.

And that's the case with most rich people.

Rich people understand how the game of money works, not everyone of course makes 120 billion

dollars a year, but the world is filled with rich people, so if you want to be one of them,

you should master the rules first.

We have already made a video on this topic, but here 7 more rules of money that you should

absolutely know if you want to build wealth.

1.

Number one: "Someone's sitting in the shade today because someone planted a tree a long

time ago”.

When you look at someone who makes a lot of money, it's easy to fall into the perception

that they are simply lucky.

It's easy to point fingers and accuse rich people of being greedy.

But the truth is, people don't suddenly make a lot of money except when they win the lottery

but rather work super hard their entire lives, and then 20 or 30 years later, their hard

work starts to pay off.

Elon Musk didn't make 120 billion dollars because he worked so hard this year.

In fact, he probably didn't work as much as he usually does.

For the last 17 years, Elon Musk worked day and night to make Tesla a successful company.

He invested over 80 percent of his own fortune that he has made from PayPal into Tesla, and

in 2008, the company literally was on the verge of bankruptcy.

He even reached out to the CEO of Daimler to convince him to buy Tesla because the company

simply didn't have the funds to survive.

But Daimler refused to even invest a dime in Tesla.

Elon Musk spent his last dollars to save Tesla and was homeless for a while since he couldn't

afford to pay the bills.

Imagine making 180 million dollars but still can't afford rent because you invested your

entire fortune in your next startup.

In 2018, Tesla was struggling financially again, Elon Musk reached out to Tim Cook to

convince Apple to buy Tesla, but Tim Cook even refused to meet him.

Elon Musk still somehow managed to save Tesla.

Today, Tesla is worth over half a trillion dollars, and Elon Musk is the second richest

person in the world.

So if you want to be in a better financial position 5, 10, or 15 years from now, you

better start planting your tree now.

2.

Number 2: The most important thing to do if you find yourself in a hole is to stop digging."

let's say you have borrowed money to buy a brand new BMW.

But you don't use it much because you work from home and only need a ride once or twice

a week, but you still have to make your monthly payments.

The rational decision would be to sell that car and pay off your debts since you don't

need the car, but since you have already paid a portion of that car, you don't want your

previous investments to go to waste, so you keep the car.

It's like when you purchase a ticket to a movie but then find out that the movie is

boring, you still keep watching it because you don't want your money to be wasted.

And that is known as the Sunk cost fallacy.

We all made mistakes, especially financial mistakes but don't let that lead you into

making more financial mistakes.

If you started a business and then realized that it was a mistake, stop wasting your money

and time on a failing business.

The money you have spent is already gone!

Warren Buffett was a major investor in many airlines, but airline stocks crashed when

the pandemic hit the world.

Buffett lost billions of dollars, but he didn't insist on keeping his airline shares.

Overnight, Warren Buffett sold his entire portfolio of airline shares and invested in

different businesses that seemed to do better during the pandemic.

3.

Number 3: the worst investment you can have is cash.

Everybody is talking about cash being king and all that sort of thing.

Cash is going to become worthless over time.

But good businesses are going to become worth more over time.

If you know anything about money, then you probably heard about the concept of inflation.

Paper money has no intrinsic value.

It's merely created by the federal reserve to make it easy to measure the value of goods

and services.

Every year the fed either prints more money or in some pomps money into the economy, which

decreases the value of the existing cash in the economy.

So having a lot of cash isn't real wealth.

You are rich when you own businesses that constantly produce something and grow or assets

that in some way, provide value, like a property that can be rented out.

So don't strive to have more cash but use that cash to buy businesses that that grow.

4.

Number 4:" Speculation is most dangerous when it looks easiest."

I remember back in 2017 when crypto-currencies were rising like falcon 9 (SpaceX rocket),

everyone was jumping on board.

No-one wanted to miss this opportunity, but most of them had no idea what bitcoin or cryptocurrencies

are.

They thought they could get in and make a fortune, but soon prices crashed, and some

people lost their entire lives savings.

Not to say that bitcoin is useless or anything like that, but never invest in something you

don't understand.

in fact, "risk comes from not knowing what you are doing" oh yeah, that's also warren

Buffett's quote.

There are literally millions of ways to make money, but if you don't know enough about

it, then you are gambling.

Can you get lucky?

Of course!

But what are the chances that you will get lucky?

Go and ask people who buy lottery tickets.

Not much.

So, don't speculate!

5.

Number 5: "If you buy things you do not need, soon you will have to sell things you need."

The biggest financial mistake most people make is buying things they don't need, especially

when they can hardly afford them.

Life isn't a straight line.

Sometimes you will make a lot of money; other times, business will be down, so if you don't

have a cash cushion, you will have to sell things you really need to pay the bills.

At the end of the day, all that you need is a roof over your head, food on the table,

and some wheels to get around, even if they are not your wheels.

So always limit your expenses that you don't really need and focus on using your financial

resources to build an extra source of income.

How many times we have stories of people who inherited millions of dollars or even billions

but ended up broke because they bought too many things they don't need.

Even athletes like Mike Tyson, who made over 300 million dollars over his career but had

to file for bankruptcy once he retired.

6.

Number 6: Don't get caught up with what other people are doing

Have you ever heard of someone who did the exact same thing that others did and made

a fortune.

Probably not.

That's why don't follow the crowd.

It doesn't matter what everyone else does.

Most people are going to settle for the average.

In fact, if most people are doing it, then you should stay away from it.

Great opportunities come when no one is paying attention.

Being a contrarian isn't the key, but being a crowd follower isn't either.

You need to detach yourself emotionally.

Especially when it comes to investing, whoever everyone is on board and start investing in

a certain company, stay away from it because chances you will end up losing your money

are way higher than you would make something and vice versa of course.

7.

Number 7: It is not necessary to do extraordinary things to get extraordinary results.

Most people think that you have to do something extraordinary to make a lot of money.

That's one way to do it, but making money is usually about small daily choices such

as setting aside 5 dollars a day and investing in an index fund.

You might not become the next Elon Musk or won't be able to build rockets that will make

humanity multi-planetary and in the process become the world's richest person, but with

small right decisions, you can achieve extraordinary results.

So don't aim for immediate great results.

The only immediate results you can aim for are two 4 stocks from Webull if you sign up

and despot 100 bucks and start investing.

Who else will give you two free stocks if you start investing, or learn how to invest

by taking this course on Skillshare for free if you use the link in the description.

These seven rules of money are entirely based on warren Buffet quotes.

If there is one guy who can give you the best financial advice, then it's Warren Buffet.

And now give this video a thumbs up, and if you are new around here, then subscribe and

turn on your notifications.

Thanks for watching and until next time.

7 New Rules of Money That Only The Rich Know 7 neue Regeln des Geldes, die nur die Reichen kennen 7 nuevas reglas del dinero que sólo los ricos conocen 7 nouvelles règles de l'argent que seuls les riches connaissent お金持ちだけが知っているお金の7つの新ルール 7 nowych zasad rządzących pieniędzmi, które znają tylko bogaci 7 novas regras do dinheiro que só os ricos conhecem 7 новых правил обращения с деньгами, которые знают только богатые Paranın Sadece Zenginlerin Bildiği 7 Yeni Kuralı 7 нових правил про гроші, які знають лише багаті 只有富人知道的 7 个金钱新规则 只有富人知道的 7 条赚钱新法则

Intro イントロ

2020 hasn't been easy. 2020年は簡単ではありませんでした。

Most people lost their jobs, struggled to pay the bills, and in the worst financial |||||掙扎著||||||||| ほとんどの人が仕事を失い、請求書の支払いに苦労し、最悪の財政状況に陥りました

shape than they were a year ago.

However, that wasn't the case for everyone.

Some people made so much money last year that it's even difficult to imagine that much wealth. 昨年は、それだけの富を想像することすら困難なほど、多くのお金を稼いだ人もいます。

Elon Musk made over 120 billion dollars from January 2020 to December 2020.

I am not sure if he has realized that, but most people will never see this kind of numbers 本人が気づいているかはわかりませんが、ほとんどの人がこのような数字を見ることはないでしょう

except in GTA. ||GTAではない GTAを除く。

And that is not even his entire net worth. しかも、それは彼の全財産でもない。

If you consider SpaceX, the Boring company, and all of his other ventures, his net worth ||||||||||||企業||| ||||||||||||事業|||

could exceed the 200 billion dollar mark. |超過|||| |超える||||

Elon Musk might seem like a nerd who doesn't care about money, but he is not. |||||||||||dinero|||| イーロン・マスクは、お金に無頓着なオタクのように思われるかもしれませんが、そうではありません。

If you take a look at his biography, you will realize that he has always been really good

with money. をお金で買う。

At some point in his life, he spent 1 dollar a day on food so that he could invest enough

money into his startup. をスタートアップに投入した。

And that's the case with most rich people.

Rich people understand how the game of money works, not everyone of course makes 120 billion

dollars a year, but the world is filled with rich people, so if you want to be one of them,

you should master the rules first.

We have already made a video on this topic, but here 7 more rules of money that you should

absolutely know if you want to build wealth. 絕對知道|||||||

1.

Number one: "Someone's sitting in the shade today because someone planted a tree a long ||||||||||植えた|||| Nummer eins: "Heute sitzt jemand im Schatten, weil jemand vor langer Zeit einen Baum gepflanzt hat. 1番です:"誰かが木を植えたから、今日も誰かが日陰に座っている。

time ago”.

When you look at someone who makes a lot of money, it's easy to fall into the perception

that they are simply lucky.

It's easy to point fingers and accuse rich people of being greedy. ||||||非難する||||| 金持ちを指差して貪欲だと非難するのは簡単です。

But the truth is, people don't suddenly make a lot of money except when they win the lottery |||||||||||||||||宝くじ しかし、実際には、人は宝くじが当たった時以外は、突然大金を手にすることはありません

but rather work super hard their entire lives, and then 20 or 30 years later, their hard ということではなく、一生懸命働いて、20年後、30年後にその苦労が報われる。

work starts to pay off. の仕事が報われ始める。

Elon Musk didn't make 120 billion dollars because he worked so hard this year. イーロン・マスクが1200億円稼いだのは、今年がんばったからではない。

In fact, he probably didn't work as much as he usually does. むしろ、普段より働いていないのではないだろうか。

For the last 17 years, Elon Musk worked day and night to make Tesla a successful company. この17年間、イーロン・マスクはテスラを成功させるために昼夜を問わず働き続けました。

He invested over 80 percent of his own fortune that he has made from PayPal into Tesla, and |投入||||||||||||||| ペイパルで稼いだ自分の財産の80%以上をテスラに投資しており

in 2008, the company literally was on the verge of bankruptcy. ||公司|確實地||||||破產邊緣 |||||||瀬戸際|| は、2008年、文字通り倒産寸前まで追い込まれました。

He even reached out to the CEO of Daimler to convince him to buy Tesla because the company ||||||||戴姆勒公司||說服他|||||||

simply didn't have the funds to survive. 根本沒有|沒有||||| は、単に生き残るための資金がなかっただけなのです。

But Daimler refused to even invest a dime in Tesla. |||||||セント|| しかし、ダイムラーはテスラへの一銭の投資すら拒否した。

Elon Musk spent his last dollars to save Tesla and was homeless for a while since he couldn't イーロン・マスクは、テスラを救うために最後のお金を使い、しばらくはホームレス状態だったそうです。

afford to pay the bills. を支払う余裕がある。

Imagine making 180 million dollars but still can't afford rent because you invested your 1億8000万円稼いでも、家賃が払えないのは、投資したからだと想像してください。

entire fortune in your next startup. 次のスタートアップで全財産を

In 2018, Tesla was struggling financially again, Elon Musk reached out to Tim Cook to

convince Apple to buy Tesla, but Tim Cook even refused to meet him.

Elon Musk still somehow managed to save Tesla.

Today, Tesla is worth over half a trillion dollars, and Elon Musk is the second richest |||||||||||||||más rico 現在、テスラの価値は5兆円を超え、イーロン・マスクは2番目に裕福な人物となっています。

person in the world.

So if you want to be in a better financial position 5, 10, or 15 years from now, you

better start planting your tree now.

2.

Number 2: The most important thing to do if you find yourself in a hole is to stop digging." その2:穴が空いたと思ったら、掘るのをやめることが一番大事"

let's say you have borrowed money to buy a brand new BMW. |||||||||||BMW車

But you don't use it much because you work from home and only need a ride once or twice しかし、在宅勤務で1、2回しか乗らないため、あまり使わない

a week, but you still have to make your monthly payments. 週1回でも、月々の支払いは必要です。

The rational decision would be to sell that car and pay off your debts since you don't |合理的な||||||||||||||| 合理的な判断としては、その車を売って、借金を返済することでしょう。

need the car, but since you have already paid a portion of that car, you don't want your が必要だが、その車の一部をすでに支払っているため、あなたの

previous investments to go to waste, so you keep the car. これまでの投資が無駄になるので、車を維持する。

It's like when you purchase a ticket to a movie but then find out that the movie is

boring, you still keep watching it because you don't want your money to be wasted.

And that is known as the Sunk cost fallacy. ||||||埋没費用||埋没費用の誤謬

We all made mistakes, especially financial mistakes but don't let that lead you into 私たちは皆、間違いを犯し、特に金銭的な間違いを犯しました。

making more financial mistakes. 金融のミスを増やす

If you started a business and then realized that it was a mistake, stop wasting your money ビジネスを始めてから、それが間違いだったと気づいた人は、無駄なお金を使うのをやめましょう

and time on a failing business. と、失敗したビジネスに時間を割くことができます。

The money you have spent is already gone!

Warren Buffett was a major investor in many airlines, but airline stocks crashed when ||||||||航空会社|||||

the pandemic hit the world.

Buffett lost billions of dollars, but he didn't insist on keeping his airline shares. バフェットは何十億ドルもの損失を出したが、航空会社の株を持ち続けることにこだわらなかった。

Overnight, Warren Buffett sold his entire portfolio of airline shares and invested in

different businesses that seemed to do better during the pandemic.

3.

Number 3: the worst investment you can have is cash. その3:最も悪い投資は現金だ

Everybody is talking about cash being king and all that sort of thing. みんな、キャッシュ・イズ・キングとか言っているけど、そんなの関係ない。

Cash is going to become worthless over time. 現金は時間が経てば無価値になる。

But good businesses are going to become worth more over time. しかし、良いビジネスは時間が経てば経つほど価値が上がっていくものです。

If you know anything about money, then you probably heard about the concept of inflation. お金に詳しい人なら、インフレという概念を聞いたことがあるのではないでしょうか。

Paper money has no intrinsic value. 紙幣には本質的な価値がない。

It's merely created by the federal reserve to make it easy to measure the value of goods |||||連邦の||||||||||| 単に連邦準備制度によって、商品の価値を簡単に測れるように作られたものです

and services.

Every year the fed either prints more money or in some pomps money into the economy, which |||||||||||ポンプ||||| 毎年、連邦政府はお金を増刷するか、あるいはお金を経済に投入しています。

decreases the value of the existing cash in the economy. は、経済における既存の現金の価値を低下させる。

So having a lot of cash isn't real wealth.

You are rich when you own businesses that constantly produce something and grow or assets 常に何かを生み出し、資産を増やしていくビジネスを所有することがお金持ちなのです。

that in some way, provide value, like a property that can be rented out. 賃貸物件など、何らかの形で価値を提供するもの。

So don't strive to have more cash but use that cash to buy businesses that that grow.

4.

Number 4:" Speculation is most dangerous when it looks easiest." その4:"投機は、最も簡単に見えるときに最も危険である。"

I remember back in 2017 when crypto-currencies were rising like falcon 9 (SpaceX rocket), ||||||暗号通貨||||ファルコン||

everyone was jumping on board. は、誰もが飛びついた。

No-one wanted to miss this opportunity, but most of them had no idea what bitcoin or cryptocurrencies 誰もがこのチャンスを逃したくないと思ったが、彼らのほとんどはビットコインや暗号通貨が何であるかを知らなかった

are.

They thought they could get in and make a fortune, but soon prices crashed, and some 彼らは参入して大儲けできると思ったが、すぐに価格が暴落し、何人かは

people lost their entire lives savings.

Not to say that bitcoin is useless or anything like that, but never invest in something you ビットコインが役に立たないとか言うわけではありませんが、絶対に投資しないでください。

don't understand.

in fact, "risk comes from not knowing what you are doing" oh yeah, that's also warren

Buffett's quote. バフェットの|

There are literally millions of ways to make money, but if you don't know enough about

it, then you are gambling.

Can you get lucky? 運が良くなるのか?

Of course!

But what are the chances that you will get lucky? しかし、幸運に恵まれる可能性はどのくらいあるのでしょうか?

Go and ask people who buy lottery tickets. 宝くじを買っている人に聞いてきてください。

Not much. あまりないですね。

So, don't speculate!

5.

Number 5: "If you buy things you do not need, soon you will have to sell things you need." その5:"必要のないものを買えば、やがて必要なものを売らなければならなくなる。"

The biggest financial mistake most people make is buying things they don't need, especially 多くの人が犯す経済的な最大の過ちは、必要のないものを買ってしまうことです。

when they can hardly afford them. ほとんど買えないのに。

Life isn't a straight line. 人生は一直線ではありません。

Sometimes you will make a lot of money; other times, business will be down, so if you don't 大儲けすることもあれば、ビジネスが落ち込むこともあるので、そうでない場合は

have a cash cushion, you will have to sell things you really need to pay the bills. キャッシュクッションを持つためには、本当に必要なものを売らなければなりません。

At the end of the day, all that you need is a roof over your head, food on the table, 結局のところ、必要なのは屋根と食卓だけなのです、

and some wheels to get around, even if they are not your wheels. と、たとえ自分の車輪でなくとも、移動するための車輪を用意する。

So always limit your expenses that you don't really need and focus on using your financial だから、本当に必要でない出費は常に制限し、金融機関の利用を重視する。

resources to build an extra source of income. のリソースで、余分な収入源を構築することができます。

How many times we have stories of people who inherited millions of dollars or even billions 何百万ドル、何十億ドルという遺産を相続した人の話を何度聞いたことか。

but ended up broke because they bought too many things they don't need.

Even athletes like Mike Tyson, who made over 300 million dollars over his career but had

to file for bankruptcy once he retired. を、退職後に自己破産を申請することになりました。

6.

Number 6: Don't get caught up with what other people are doing その6:他の人のやっていることにとらわれない

Have you ever heard of someone who did the exact same thing that others did and made 他の人と全く同じことをして、成功した人の話を聞いたことがありますか?

a fortune. 一財産です。

Probably not.

That's why don't follow the crowd. だからこそ、群衆に追随してはいけない。

It doesn't matter what everyone else does. 周りがどうであろうと関係ない。

Most people are going to settle for the average. ほとんどの人は、平均値に落ち着くことになる。

In fact, if most people are doing it, then you should stay away from it.

Great opportunities come when no one is paying attention. 大きなチャンスは、誰も注目していないときにやってくる。

Being a contrarian isn't the key, but being a crowd follower isn't either. ||||||||||群衆の追随者|| 逆張りであることが重要なのではなく、群衆に従うことが重要なのです。

You need to detach yourself emotionally. |||感情を切り離す|| 感情的に自分を切り離す必要がある。

Especially when it comes to investing, whoever everyone is on board and start investing in ||||||誰でも|||||||| 特に、投資に関しては、誰もが納得して投資を始められるような人は

a certain company, stay away from it because chances you will end up losing your money ある会社から離れると、お金を失うことになるからです。

are way higher than you would make something and vice versa of course. |||||||||逆もまた然り||| は、あなたが何かを作るよりもずっと高いですし、もちろんその逆も然りです。

7.

Number 7: It is not necessary to do extraordinary things to get extraordinary results.

Most people think that you have to do something extraordinary to make a lot of money.

That's one way to do it, but making money is usually about small daily choices such

as setting aside 5 dollars a day and investing in an index fund.

You might not become the next Elon Musk or won't be able to build rockets that will make

humanity multi-planetary and in the process become the world's richest person, but with 人類を多惑星化し、その過程で世界一の富豪になる。

small right decisions, you can achieve extraordinary results.

So don't aim for immediate great results.

The only immediate results you can aim for are two 4 stocks from Webull if you sign up ||||||||||||ウェブール|||| すぐに狙えるのは、申し込めばウェブルの4銘柄2つだけ

and despot 100 bucks and start investing.

Who else will give you two free stocks if you start investing, or learn how to invest 投資を始めたり、投資の方法を学んだりすると、2つの銘柄を無料でプレゼントしてくれる人が他にいるだろうか。

by taking this course on Skillshare for free if you use the link in the description. このコースはSkillshareで無料で受講することができます。

These seven rules of money are entirely based on warren Buffet quotes. ||||||||||バフェット|

If there is one guy who can give you the best financial advice, then it's Warren Buffet.

And now give this video a thumbs up, and if you are new around here, then subscribe and ||||||いいね|||||||||||

turn on your notifications.

Thanks for watching and until next time.