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Good day subscribers thank you so much for joining me today i am jeremy this is the financial education channel and today we’re talking billionaire versus millionaire versus middle class versus poor guys and we’re gonna talk about investing we’re gonna talk about debt we’re gonna talk about income and we’re gonna talk about the new on money between these different

Classes because all them do different activities inside these things and they all think about things differently so we’re gonna kind of go through it all today we’re going to talk about poor first then we’ll talk about middle class then we’ll talk about millionaires and then we’ll talk about billionaires and you’ll kind of see the differences and the great thing

Is if maybe you’re in the poor class and you’re trying to get to the middle class and you kind of need to change your way of thinking so you can get to that next class same thing if you’re in the middle class and you’re trying to get to a millionaire maybe you’re a millionaire and you’re watching this we’ve got a few on the channel i know maybe you get to that

Billionaire class guys so let’s kind of talk about this we’ll start off with investing and the type of activity someone would do in investing right so the poor class so by the way at least of the p stands for poor class the c stands for middle class the m stands for millionaire and the b stands for billionaire class okay so the poor class it’s non-existent investing

Is non-existent they generally don’t invest at all they don’t even have generally speaking 401ks or anything like that there’s almost no savings there there’s almost no investing knowledge there’s no clue on how to even buy a stock how do you even sell the stock there’s no clue on how to buy a rental property there’s not even the basic the most basic fundamental

Information generally speaking in the poor class this is almost a non-existent thing guys unless maybe it’s a young a super young person who’s just trying to come up in the game or something like that maybe they’re still poor at that time but maybe they have knowledge but generally speaking the majority of people in the poor class they don’t even have the base

Fundamentals around investing never mind high-level type stuff and they don’t have any money to invest because they’re poor so they have no money to invest in make their future better guys the middle class when they think about investing what do they do as far as investing goes they think of it as their 401 k which they probably work a job right so they have a 401

K and they think of it as their home now their home is not usually even an investment unless they have a ton of equity in that home or they own it outright it’s not really true an asset until you own that home outright and then you have you know maybe you live in a $200,000 home you got a paid off then you basically have $200,000 it’s just sitting there whenever

You want to sell that you can sell that then it really becomes an asset at that time but that’s really there are only two ways of investing they just think about their 401k putting money into their 401k every week or every month and then they think about their home and that’s their way of investing the millionaire class is a little different the millionaire class

They’re thinking about stocks you’re thinking about stock market investing something i talked about more than anything on this channel right they’re thinking about you know bonds they’re thinking about commodity investing they’re thinking about their homes generally millionaires have multiple homes in maybe sometimes multiple states they’re thinking about rental

Properties they’re thinking about you know properties they own if they actually rent out to people which brings them in income and things like that guy so they’re they’re investing knowledge is much much deeper than say the middle-class there’s a huge difference between a middle-class investor and a millionaire investor it’s dramatic it’s dramatic and then the

Billionaire class this is also dramatically different the millionaire class what are they doing they’re buying big businesses that’s what bb stands for they’re buying big businesses they’re buying you know ten million dollars 100 million dollars sometimes billion dollar businesses guys they got that kind of money and they can buy a huge business to then extend

Their business if they own one which they probably do if they’re in that billionaire class or to just get another income-producing asset at the end of the day they’re buying mass property so they’re trying to look at huge condominium complexes maybe huge apartment communities to invest in things like that try to buy mass properties they’re not just thinking you

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Know about buying you know one home or two homes their thing and if they’re gonna buy homes they want to buy 20 homes all in the same area and have someone around for maintenance and all that so they’re thinking by mass properties to produce them income because what’s one house gonna produce them $1,200 rent a month that’s and that’s literally not even worth a

Billionaires time at the end of the day and they’re also thinking about bbfs what does that stand for honestly i don’t remember what that stood for pbs oh i remember what it stood for buying big stakes they’re trying to buy big stakes in public companies so when they invest in a stock they’re not just thinking about well let me put a hundred thousand dollars in

That just you know put you know half million in that no no they’re buying big stakes they’re trying to add tens of millions of dollars into a stock or a hundred to millions dollars they want to get to a position where they can get on the board of directors so they can more they can have more direction over that company then not just invest in little bounce of

Money just to mess around they’re investing huge stakes they’re making a huge stakes in that company so they can become one of if not the main shareholder that company in their word can be just just as important as anybody in that company that’s what they’re trying to do it and the day let’s talk about debt now total different ball game as far as debt for a whole

These classes so the poor what kind of debt do they take out what kind of debt are they involved with super high interest debt the worst debt you can possibly get involved with they’re talking about you know attendee they’re talking and you know the minimum maybe they can get debt for is at a ten percent interest rate but generally speaking a lot of these people

That are in the poor class and they take out these you know payday loans or whatever kind of loan they get because they’re poor because generally speaking poor people have bad credit that they end up taking out debt at twenty percent thirty percent a hundred percent interest rates i’ve seen the interest rates that some of these payday loans and then cash advance

Police charges it’s like ninety seven a hundred and twelve percent interest rates guys it’s the worst kind of debt in the world to take out literally super high interest debt and that’s the kind of debt that poor class can get and it’s just ugly it’s ugly and it’s usually debt so they can get by for another day or something like that the middle class what kind

Of debt do they take out they figure out a lot of bad debt – they take out mortgage debt they’re taking out credit card debt they’re taking our automobile debt and they’re taking out student loan debt so all pretty much bad debts at the end of the day you know if there’s almost no good there’s no good debts in there they’re all things so they can buy things then

Maybe they probably can’t even afford at that particular time so they take out a big loan on that they can get a little big and definitely get better interest rates then the poor class can but they can’t get even close to what these people get the millionaire class how what do they do they buy the it are excuse me they take out debt so they can invest that money

Okay so they’re not just taking out debt because they can’t afford things that if they’re buying a million dollar house it’s not because they can’t afford that two million dollar house they probably could buy that cash but their thinking is like okay do i really want to spend two million dollars on this house or do i want to just put a $300,000 downpayment on it

Take out a 1.7 million dollar mortgage on that and then invest the rest of money because generally speaking if they got in that millionaire class unless they inherited the money or something right they got into that millionaire class they probably know how to invest money so they’re thinking i would rather use that money because they can take out loans are super

Low interest rates they can take out to 3% interest rates guys so why the hell are they not going to just invest that money when if they just got an average stock murky game they can probably get seven 8% a year right in the stock market when their loans probably have two or three percent so do the math on that obviously it’s better to invest think about rental

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Properties think about if they bought businesses things like that so that’s their thinking on debt the billionaire class what they’re thinking about is they want to take out debt to buy huge assets like we talked about here but the best part is about the billionaire class they know how to make a non-recourse that’s what that n r stands for non-recourse meaning if

That debt defaults it doesn’t come back on them it just like the company goes bankrupt or that subsidiary of the company goes bankrupt i’ll give you an example wynn resorts a company i own right wynn resorts they take out debt the way they structured that when they take out debt if say when macau was to go bankrupt no one started going to macau anymore and you

Know that that property just went out of businesses there are multiple they have three properties in macau those those companies went out of business those those properties over there that debt they’ve taken out on those properties could not come back against the company and this is stuff you have to really dig up and find but that debt could not come against the

Company it could just come against that subsidiary of the company and then that could go bankrupt and go through all the chapter 11 all that crap but it doesn’t actually take the main company the the holding company bankrupt because it’s non-recourse that’s how the billionaire’s structured debt so they get insanely low interest rates they buy huge assets risk with

It and they make that debt so generally it’s non-recourse or can’t even come back on them or it can’t come back on their main company guys it’s freakin ingenious okay they do it so you can see total different ball game as far as debt goes in how these different classes operate guys let’s talk about income income okay the poor class low-paying job so the poor class

Just works usually crap jobs you know minimum wage or something a little above minimum wage just a get by wage i call it and the day the middle class they usually use or earning an average wage so depending on what country they live in if they live in america they’re probably making around 50k a year they might be self-employed that’s the se they’re you know they

Don’t have employees working for them or anything they’re just kind of getting by those type of situations you know i know a lot of business owners that you know make 5060 k here and they’re fine with that they would rather make 5060 k as a self-employed person rather than make 5060 k is an employee just because they don’t wanna listen to a boss and those kinds of

Things so that’s the middle class the millionaires they’re in either an expert of something so think about maybe they’re musician maybe they’re you know a famous musician maybe they’re really could have thrown a football right you’re probably a professional quarterback or maybe they’re really great at running numbers so maybe they’re cfo of a company you know a

Huge public company you don’t think about apple the cfo apple i don’t know he probably makes ten twenty thirty million dollars a year they’re an expert at something they’re like the creme de la creme at whatever they are great at right or or they had people or systems making them money so maybe they’ve set up a passive income system that that’s making them money

Maybe they created a software accounting system right and they know how to run ads on facebook and different platforms that somehow get in front of chief financial officers and that’s their system they built in that system make some money or maybe they have a small business i know plenty of people that are millionaires in real life that have businesses where they

Have 5 10 20 30 employees working for them and they make a million dollars two million dollars three million dollars a year because they have people running that business they don’t even do much with that business anymore the people actually make them money so either the expert is something they got a system making their money or they got people making them money

As far as income with the billionaire class it doesn’t matter with the billionaire class they don’t even care about income they only care about their assets or increasing in value so those multiple properties they bought you know five years ago when they paid a hundred million dollars for they care that those are properties now are worth 120 million dollars or

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Something like that they don’t really care about money think about this guys think about this you know how much warren buffett makes you here warren buffett’s salary per year is $100,000 i make more money than warren buffett makes in salary and that’s not even including my investments it’s not even including my investments i make more money than warren buffett

But who the hell cares cuz warren buffett’s worth like i don’t know 75 80 billion dollars or whatever he doesn’t care if he paid himself a million dollars he paid himself ten million dollars it’s irrelevant to him because his net worth is gonna go up billions of dollars or down billions of dollars depending on how his stock is doing berkshire hathaway stock the

The amount of money he makes whether he makes a million dollars a hundred thousand dollars or ten million dollars it means nothing to him it’s so it’s so petty to him that it doesn’t even matter so the billionaire class they don’t even really care that much about income they just care that their assets or going up in value and their assets are becoming more and

More valuable over time those businesses they create they just care that that’s jeff bezos he doesn’t really necessarily care how much net profit amazon’s making he just cares that amazon stock keeps going up because he owns amazon stock right so that’s how the billionaire class works guys they care about their assets increasing a price not necessarily they make

More money as far as dollars coming in at the end of the day no viewpoint on money how do these different classes actually view money well the poor class they just view it as it’s a necessary tool it’s something to get by something to get me food it’s just something to put the roof over the head it’s just a necessary tool that i have to use that’s what the poor

Class thinks the middle class they’re kind of thinking of you know i want to live decent money money my view and money is i want to live decent i want to retire at 65 and call it quits that’s what that’s the view of money of the middle-class live decent retire 65 and that’s it that’s just the view of the middle class the millionaire class they view it as this is

Something to build this is like building blocks i’m building something here i’m gonna build this bigger and bigger and bigger something to build the billionaire class what are they view it as they view it as a game it’s a scoreboard at this point once you’re worth you know four billion dollars ten billion dollars whatever amount any even one billion dollars you can

Buy any house you possibly want you can buy any yacht you you can buy a fleet of cars you can buy anything you put possibly you could buy the best health care in the world the best doctors in the world there’s nothing nothing that’s outside your realm you can buy huge businesses you can do anything you can do anything you want any time the day when you want you’re

Gettin that billionaire class so what it becomes at that point is it becomes a scoreboard it sounds kind of a competitive thing up you know who can be richer than who type situation you know how do i keep building that that’s their view of money it’s just scoreboard at that point you know who’s got the most points in the board so as you see here guys investing debt

Income view the the four pillars really a money it’s just totally different between the classes it’s dramatic you know even even between the poor and the millionaire class it’s dramatic never mind if you look at poor versus you know what billionaires are doing with their money are thinking and those kinds of things so you know depending on what class you’re in just

Trying to think you know i need to move this to this next class and try to start doing some things that they’re doing you know so i hope you guys really enjoyed this day billionaire versus millionaire versus middle class versus poor i hope you guys absolutely love to hit a thumbs up if you enjoyed this video and you know what guys have a great day

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