If Learned This At 20, I Would be 10x Richer
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- čas přidán 29. 03. 2024
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In this video, Ken McElroy shares invaluable advice on financial literacy, emphasizing the importance of understanding how money works within the system to leverage opportunities for wealth creation. Through personal anecdotes and examples, from investing in real estate to entrepreneurial ventures by his children, the Ken illustrates how seeing potential where others see the ordinary can lead to substantial financial gain.
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ABOUT KEN:
Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABC’s of Property Management, and has an upcoming book: "ABCs of Buying Rental Property: How You Can Achieve Financial Freedom in Five Years." Ken is a Rich Dad Advisor.
Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
Ken's company: mccompanies.com/
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It would really help us out, and it motivates Ken to make more videos.
Thank you so much it really means a lot.
How do we invest with Ken? Thanks!
Vv
😂😂😂
I deeply appreciate your commitment to enlightening your audience. We all aspire to attain financial security and enhance our quality of life. This goal can be realized through prudent investments, mindful spending habits, and meticulous financial planning. I am thankful for acquiring the understanding of the significance of diligently striving for financial independence from an early stage in life.
Even though I engage in investing, I feel disheartened by my lack of expertise in assessing the performance of individual companies and determining the optimal timing for stock purchases. The erosion of my financial reserves due to inflation adds to my concerns. At this point, I require precise market trajectory information, but I find myself unsure about the appropriate course of action.
I wholeheartedly concur, which is why I opt to entrust the day-to-day decision-making to an investing coach. With their specialized knowledge and extensive research, it is highly unlikely for them to underperform. Their expertise is centered around harnessing the asymmetrical potential of risks while also employing measures to safeguard against unfavorable outcomes. I have been collaborating with an investment coach for more than two years
My partner’s been considering going the same route, could you share more info please on the advisor that guides you.
Just research the name Angela Lynn Shilling. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.
I have seen a lot of your videos Ken! This is in the top 5 for sure. Maybe top 3!
your perspective on financial literacy as a game where the informed are winners is spot on 🎯. It's a powerful reminder that understanding the financial system and leveraging opportunities creatively can lead to significant economic empowerment.
Great episode ! Always appreciate Ken’s wisdom and this great content !
I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Charlotte Miller.
Really you people know her? I was even thinking that I'm the only one she has helped walk through the fears and falls of trading
The very first time we tried, we invested $1000 and after a week, we received $7500. That really helped us a lot to pay up our bills.
I'm new at this, please how can I reach her?
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
she's mostly on Instagrams, using the user name
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
Exactly ! That's my major concern and what lucrative investment can one venture into with the current rise in economic downturn
In fact, I had no prior experience or understanding when I began investing in 2018, but by the end of 2019, I had made a profit of almost $750k. All I had been doing was going by what my financial advisor had told me. This demonstrates that all you truly need is a professional to assist you; you don't even need to be a great investor or put in a lot of work.
@@sloanmarriott5 Kudos on the effective execution of innovative ideas and tactics that lead to significant advancement. As I seek guidance from a trustworthy advisor, would you be willing to share details about the individual assisting you?
Wright promptly do a web check where you can connect with her Gertrude Margaret Quinto and do your research with her full names mentioned..
TQ for the great advise.
Ken, thanks for your time.
Love that "you learn alot when it doesnt work and you learn very little when it does"
Thankyou for the dad wisdom.
I am not in real estate (I’m in SaaS) but the idea is the same. Find a problem, give people a solution and make some coin. If you add value the economy will reward you.
Its crazy, i dont know when it happened exactly, but I am in the headspace that he describes now. Whenever I see literally anything, i think of how it could be leveraged to make money. I see a car for sale and dont think "oo i want that" i think "i wonder if i could flip that for a buck. How much time it would take and if its worth the investment. Consciousness is key!
I’ve been diligently working, saving and contributing towards financial freedom and early retirement, but the economy so far since the pandemic has eaten away most of my portfolio, what I want to know is this: Do I keep contributing to my portfolio in these unstable markets or do I look into alternative sectors.
Just try to diversify your portfolio to other market sectors, that way your investment is balanced and you don’t get to make so much losses.
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
Finding financial advisors like Carol Vivian Constable who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thanks for sharing, I just liquidated some of my funds to invest in the stock market, I will need every help I can get.
You’ve got to wonder what ideas are going to last. Malls were popular for quite some time but not anymore. Online is the new real estate
I love the car detailing / turo story. Smart kid.
Thank you Ken for sharing golden advice! Keep this stuff coming. Sometimes we need the dots connected to see the possibilities.
Solid vid
this is really informative! I’ve been watching a lot of videos but not DOING thanks for the wake up call
Hi Ken I just wanted to say even though I already knew most of what you have said you are definitely giving out quality advice and information to young entrepreneurs I congratulate you on that
Great Ken.. thanks for your time Sir.
Great video Ken!
Ken - did you read The Art of the Deal? Same mindset.
Back in 2008-2012 I had a great credit score. I tried to borrow from a ton of banks to buy houses. But they said my debt to income was too high, because of my rentals that had dropped in value. So, unless you were cash rich, or could fund raise with rich buddies, forget it.
Ken went to get funding in Canada
(Kens team)
Exactly that’s why when they say house prices go up when the interest rates go down isn’t always true. If you’re in a recession it does not matter what the cost of debt is if people can’t afford it they can’t afford it.
@@KenMcElroy Smooth move 👍. Too bad I was probably a decade or more younger than Ken at the time. With no schooling, very little experience and just winging it the best I could. There weren't as many good sources of info back then. At the time my job was cutting pay, half my immediate family died, and my girlfriend left me. I know Boo hoo...everyone has problems and excuses. But anyway, that was a really good move, wish I would have thought of that! Kudos to Ken, that's why he makes the big bucks.
Great insights . Thank you much
8:35 That's what I tell people about stocks and daytrading
Thank you Sir
You are truly amazing 🤩. You speak sense
How about instead of giving generic advice like “Understand how money works” and telling us about your kids flipping beats headphones. You should explain what specific fields of knowledge about money we should learn
Agreed
Thank you Ken, I have a podcast that I would love to have you on. 30 mins approx. we are real estate and success mindset focused.
True. But. Many business visionaries go in debt for their idea and then what they didn't see takes them belly up. Starting small like your kids is important i bet
Hello Ken!!, how does one determine the value of a raw piece of land with construction drawing approvals in place for multi family units development???
Ken, I can tell that you are super fired up about this topic! Which is awesome! One day, I noticed several quarters sitting on my five year old son’s dresser. We never gave our kids an allowance so naturally I was wondering where the heck he was getting this money from. Turns out he had been selling pages from a paper airplane book he got for his birthday. He would let the kids choose a page and he would ‘build’ it for them for .50 cents. And if they couldn’t afford a page, he would make them a cool plane out of a regular sheet of paper for a quarter. 😂
You got a based hustler 😂
Good stuff like always
thanks from France
I can say that for the vast majority of people are in 5 or 10 years better off to not "just start a business" but invest 500€ into three high quality blue chips. Coming from personal experience, not because I listened to a CZcamsr.
Thanks.
Most people just don't invest. I the assumption that most people invest in the stock market at all is very generous.
My brother and I would sell candy and other things in Jr High school. We went to the Principals office several times and put on 'probation' as US schools discourage Free Markets and thinking for yourself. This was in the '80's - the start of the Decline of the West
Other things lol
Well dats dope
Wise man wise advice.
If I had learned to stop chasing $ in my 20s I would be a better happier person today. Yes you can be 10x richer but at what price? Think for yourself don't follow the gurus trying to sell you $something$/lifestyle blindly.
Not necessarily about chasing money. It may be that in the beginning but the journey to becoming wealthy and having a mission and purpose and progressing towards something is we're happiness comes from
im in my 20s and honestly i find it a passion to make money because it is hard, anything i find hard to do i enjoy more of it but i dont focus only on money i do other things too! like martial arts, yoga, gaming, spend time with family. its all about balance.
Ken is divorced. Wonder why?
In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living..
A recession as bad as it can be, provides good buying opportunities in the markets if you're careful and it can also create volatility giving great short-time buy and sell opportunities too. This is not financial advice but get buying, cash isn't king at all at this time..
Many ppl are choosing AMZN as their "Stock of the yr" | agree it has a chance to be. But my question is what stocks can be the next APPL in terms of growth for the next decade? I have $250k ready money to invest for long term gains, and my goal is to retire comfortably rich.
Sir Dustin Dwain king 's approach is crucial for succeeding in online commerce. His management group has been exceptionally effective. I also love his CZcams page.
Dustin Dwain King indeed showcases substantial knowledge in this field. Following a comprehensive Google search using his full name, I thoroughly examined his webpage, encompassing his resume and qualifications, which proved to be truly impressive. Taking the proactive step, I left him a note and scheduled a call session to further discuss matters.
🚨🚨🚨 SCAM WARNING 🚨🚨🚨
This conversation is bots "talking" to other bots trying to impersonate real people receiving real advice. This is a scam that happens on a lot on these financial videos.
Obviously these scammers are not very clever (most scammers aren't) and their made-up conversations are easy to detect.
The comment and author has been reported to CZcams.
"It's so cold outside, I saw a Democrat with his hands in his own pockets." Jay Leno.
😂 💀
hilarious
I like it
Oh damn bro you look hit
“Tipoltle” hm
You should have more different thumbnails on videos. You have this thumbnail on viddeo before.
Getting Jeff Learner vibes
How much money is enough Ken? You're already worth a lot, but you contemplate being 10x richer if... So I ask you, how much is enough? At what point do you stop the endless pursuit and enjoy what you have and spend more time with the people dearest to you? Instead of constantly pursuing...more.
Seems like there still coming to you for money. Make them find the money for the phone screens/ beats . That’s different but you’re giving them the money so they still have no work ethic.
Hi,
You didn't explain who buys those big pieces of crappy lands and turns them into successful business.
What is it that Joe Biden see’s that we don’t see? 🤔
Wool socks to bed=best sleep youve had🔵
Why do people keep saying this?
@@robbarrell easy advertisement.
@@mikieemiike3979 I still don’t understand lol 😂
Another money junky guru. Yaaaaayy...
Yes we all need a chipotle for sure. I know it’s so hard to cook rice and beans and alittle chicken. Super hard. Spend spend spend. Society is getting destroyed just a matter of time
No doubt. We make rice, beans and chicken everyday. Sometimes we mix it up. This is a no brainer.
Wrap a tortilla around it. Magic
Real Estate business is all good until a war break out like in Ukraine.
One day war will find its way into American soil, and we will ask how Real Estate business is going over there then.
You can continue living in fear while everyone else is getting rich!
This mf made a 10 minute video just to say: If you want money, work
I knew I shouldn't have clicked on this clickbait of a video title
Late stage capitalism buddy. Not the 70s anymore 🥰
Dude claims to be a billionaire but spends his life doing CZcams videos. Something doesn't add up.
Maybe he enjoys sharing tips to help other people
I've seen south park you can be a you tube billionaire with a " what what up your butt butters video"
When you’ve got billions, what else is there to do? You can search his name and find public info that shows he’s worth at least hundreds of millions
@@SCORPIO0601 doubt it, there are many fake rich people on YT, there assests are really there debt, unlike liquid cash or stocks, gold etc
@@lucash7012 you cant be that gullable, can you? name any other forbes top 100 or 200 people doing this, you wont!!
That’s fine and dandy but you’re 30 years of building wealth was in the easiest economy in the history of the world and i cannot expect the same environment for my wealth building years.