Why the Rich Get Richer

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The rich get richer if i had a dollar for every time i ever heard that expression i might be the richest man in the world the rich get richer how many times have you guys heard that expression is it true why does this happen why do the rich get richer well absolutely it’s a hundred percent true if you look at any statistic out there the rich get much richer much

Faster than the middle-class and certainly than the poor and that’s on a dollar basis and that’s on a percent basis so no matter which way you want to look at it the rich are much better at making this double and double and double and double again but why the heck is that guys there are three real reasons why the rich get much richer over time the first real

Reason is making money is a skill making money is a skill it’s a skill that you learn over time see the fact is most people don’t get rich in their 20s you know for every zuckerberg that’s a rich guy right you know the snapchat founder evan spiegel for every one of those guys that got rich in their 20s there’s 10 20 30 people that got rich between the ages of 35

And 55 that is when most people who get into that rich class which i consider rich as having three million dollars in assets more than you have in liabilities so if you have a million you don’t reach that you’re certainly doing well but you’re not you’re not rich in my opinion two million you’re still not rich you’re gonna have three million dollars in assets

Vs. liabilities guys and then you can be rich the majority of people that are in that class all got their the majority of them between the ages of 35 and 55 so it’s a game it’s a long players game guys and what you’re doing in your 20s is setting you yourself up for when your 30s in your 40s in your 50s you can capitalize on opportunities you’re ready for those

Opportunities guys it’s no different than steph curry you know the great basketball player one of the best 3-point shooters ever when he was shooting three-pointers at 14 years old that was just prepping himself for 15 years old and then 16 years old and then 17 years old and then college and then nba see making money’s a skill guys no different than shooting a

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Basketball is a skill than a day yeah so talent can certainly help if you’re the best salesman in the world and you’re just naturally great at selling that’s definitely gonna help you and if you’re there’s a decent businessman you’re probably gonna be you’re probably gonna make a lot of money in your lifetime right you have some talent to it but at the end of the

Day it takes practice it takes repetition over and over and over again guys and that’s how you get so good at it and what you’re doing in your 20s is prepping you for your 30s so when an opportunity presents itself you already know how to capitalize on that opportunity because you’ve experimented in your 20s and same thing with your 30s into your 40s guys so that

Is the first thing we got to realize the second thing is the rich have a much easier way to access capital at the end a what does it mean to access capital it’s basically to raise money so you’re you take money from investors or you borrow money from the bank the rich have a lot easier opportunity why because they’ve already done things probably that are successful

At in life they’ve already proven that they already have a lot of money so they can get capital a lot easier for instance if i i live here in las vegas right if i wanted to go open up my own casino it’s gonna be called jeremy’s casino right i highly highly doubt i could even raise $1,000,000 highly doubt it why because i have no experience in the gaming industry

One and two because i’m not i don’t have all this money just laying around so the chances i would be able to get that kind of money a million dollars probably pretty slim however steve wynn steve wynn if he wanted to build a three billion dollar resort he’s in start construction next week he would be able to probably raise the funds for that project probably within

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A 48 hour time frame guys 48 hours he could phone some people and probably raise three billion dollars guys within a 48 hour time frame if he really wanted to do it that fast guys that is how insane it is when you were rich you can just get you access the capital so much easier than anybody else i mean look at some of the richest companies in the world like apple

Apple can literally raise billions of dollars in bonds in no amount of time at all guys because anybody wants to loan an apple money they’re so profitable there’s so much if you can just make two or three percent back on your money it’s almost as safe as you know getting the money from a government if you might even be safer than loaning or getting money from the

Government at the end of the day guys so are loaning money to the government so that’s another huge thing in the third the rich have other people handle little so they can handle big what does that mean guys okay so if you’re rich person you’re warren buffett you don’t need to worry about spending your time trying to figure out how do i book this flight to go to

I don’t know hershey pennsylvania i don’t need to spend my time doing that warren buffett’s time is so valuable right that he has other people do all that kind of stuff he if he wants to fly somewhere he just says hey i need a fly such-and-such he takes his private jet and that’s a lot of the rich people right or they have other people handle all this stuff especially

If they’re still working now maybe if they’re retired they do this type of stuff but if they’re if there are still working in their careers a lot of times they’ll have other people handle all those tedious tasks and same thing with their businesses they don’t want to you know do all that accounting and all the you know inventory management they just want to oversee

The business they want to they want to stay big picture they want to focus on how do we get to make more money and more money and more money see when you’re if you’re tied up in a million tedious tasks right then it’s hard to really expand your horizons because you’re stuck doing these little these little things right so the rich know how to use people to do all

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Those little tedious tasks or or and maybe software systems or whatever it is so they can focus on the big stuff guys so they can make more money and more money and focus on the big stuff guys so those are the three real reasons making money is a skill you’ve got to view it as making it’s a skill you get better and you get better and better as time goes on so you

Can capitalize on more opportunities the second one is they have a lot easier a chance to get funding whether it’s you know raising funds out there or whether it’s taking a loan out from a bank anything across the board they have much easier time to get access capital which lets them build even more money in even more businesses and things even at a faster rate

Than a regular person with and a third reason is they just don’t focus on that little stuff they have they’ve have hired people that focus on that for them and they focus on the big stuff guys and those are the three biggest reasons on why the rich get richer and they will continue to get richer at a much faster rate on a dollar basis and a percent basis in the

Middle class and then certainly the poor guys so i hope you absolutely enjoyed this today if you just came across this channel you may want to subscribe we talked we’ll find another channel we talk entrepreneurship i’m an actual business owner i give away so many business tips we talk stock market investing more than anything check out my book it is linked in that

Description goes all into my stock market investing strategy thank you for watching guys and have a great day you

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Why the "Rich Get Richer" By Financial Education

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