10 Things The RICH Teach Their Kids About MONEY

29 thoughts on “10 Things The RICH Teach Their Kids About MONEY”

  1. My dad taught me that although its true money can't get you everything you want, having no money will get you nothing.

  2. The information in this video was good info. My comment was simply, it was just strange that when the author illustrated the person who is wasteful and terrible with money credit in was a black person. There are many many white people that are in the same personal economic position as some black people.
    Now, no black people were not taught about money. At my age parent was fresh out of the south and all they knew was to work a job and try to keep a bill paid.

    The truth is that in this world there is an economic system that was designed by white people so that white people can be superior in it. When this started itnwas never their intention for black people to understand or used this system, our job was to keep working to support it.
    Unfortunately this leaves generations our black people not knowing about money, credit or interest, where white kids have taught the power of a dollar and leveraging their credit.
    One last thing, statistics say that the black household in America has the lowest family income of all the other races in this country, Hispanic , Asian, White.

    Check this out though, same statistics say that, black people spend more monety into the US economy than any other race in this country over 1.5 Trillion dollars a year. Now this whats the kicker, the number of black owned businesses in this country is lower than any other race in this country.
    So, that means we make the least amount of money, spend the most money, and its to their pockets not our own. So, there is a huge system in place, and its, Our ancestors built this country and its wealth with blood and tears for free, and now black people are the ones who are funding it, imagine if we could take that 1.5 Trillion out of the economy every year.

  3. Is it strange how I (a 12 year old) is trying to teach my parents on how to manage money? Thanks for the information it could help a lot 😀

  4. I really liked your video, hood information, but it was strange to me that when you referred to the man that was the spend thrift wasting his money on looking good etc. You displayed him as a BLACK man. And you contiued to use black drawings to explained the people who are not do as the rich.
    Great information but, offensive drawings. Maybe you didn't even know that you were doing this.

  5. I felt like im one step ahead of anyone in my class because i have this thing called financial literacy so i wouldnt care too much anymore about being competitive in getting high grades. I can achieve that without making loud moves. Being financially knowledgeable is like a superpower and the cool thing is, not everyone knows about it

  6. This felt very culturally specific and glossed over that everyone earning $6000 a month is rich. Not everyone has that opportunity, and not everybody can choose to create that opportunity for themselves. It felt quite out of touch with most people’s lives in that sense.

    It was more about how some rich people get richer. Obviously it’s good to avoid wasting money, but the world does have finite resources. You can print more money, but then everything costs more. If some people get very rich it is directly at the expense of other people having less.

  7. to point 2) If I can´t afford buying the house immediately – as most poor people can´t (and it´s not exactly being poor here in Germany if you can afford to buy a house for about 300.000 € in average, sometimes rather more)) – it would cost me more to rent it to someone? at least in our case the rate for the credit would be lower than paying the rent for our flat, so I still think it is a good investment to buy a house to live in it?

  8. I got really tired of the same example that is not completely true. Here is a Question regarding the example in section #2: Teach the difference between assets and liabilities.

    I am buying a house (fully paid for) where I am living. Yes, I have to invest in it to make it usable including renovating it, pay yearly taxes, etc.

    The yearly rent vs expenses, taxes, etc for the house is in favor of the house. (positive cashflow in favor of the house buying)

    Is this considered a liability?

  9. Everybody in heaven has lots of money. That's why heavens a place we all wish we were
    In he'll they don't use money.
    Is that how it works? Is that true?
    Is money important in heaven? What's heaven like?

  10. was this done through a survey?? how did you define woods rich and who's poor?, what percentile of the income distribution where on the people on the survey?? or did you just made everything up??

  11. High school gives you a factory job, college gives you an office job, educate yourself and you'll have financial freedom

  12. Thank you. I just watched this with my 6yr old, and his takeaway was " so the more I help others the more money I will make." Lesson done. I couldn't be prouder.

  13. Rule No.1) You don't have to work for anything, my child! We got money and we're gonna pay you everything: from nice cars, to college admissions, etc. Just enjoy your life going on fancy trips, nice partys and driving nice cars and post it all over social media to let people know you were born with more than most will ever earn in their whole life! And dont forget to claim to be 'selfmade'! LOL

  14. Edward Leedskalin that moved those stone blocks around left nothing and only told people those stones that weighed tons were easy to move and put on trucks using his own hands. Reference to #6.

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