5 Money Rules That Never Changed
The Money Rules Every Rich Family Still FollowsHow Airlines Actually Work: https://youtu.be/WEShMbKZKjM
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What are the money rules that never change? From owning a piece of what you work on and making your earnings buy machines, to treating luck as a position, protecting a fortune once you have it and knowing when more money costs too much, here are the five rules wealthy families have followed for generations.
You are not poor. You are pre-rich. Your next paycheck already has owners: the landlord, the car loan and the card you swiped last Friday all get paid before you do. These five rules take it back. One of them could be worth almost a million dollars over ten years, for the hours you already work. Another took a Bloomberg reporter to more than 13 billion dollars. Net Worth Calculator: https://www.alux.com/nw High Net Worth Individuals’ Favorite app: https://www.alux.app
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0:00 - Introduction: You Are Not Poor, You Are Pre-Rich
0:27 - Big Rule 1: Own the Thing, Don't Just Work for It
0:47 - 1.1 Effort Has a Ceiling
2:50 - 1.2 Your Paycheck Is a Thin Slice of What You Create
4:53 - 1.3 Athletes Fly on the Owner's Jet
5:53 - 1.4 A Slice of a Big Pie Beats All of a Small One
7:43 - 1.5 Climb the Pay Ladder
9:46 - 1.6 Own What You Make
11:38 - 1.7 Buy the Business Instead of Building It
13:55 - Big Rule 2: Never Spend the Money You Earn
14:19 - 2.1 Your Paycheck Is Spoken for Before It Lands
16:08 - 2.2 Earnings Buy Machines, Machines Buy the Life
17:53 - 2.3 Buy the Rental Before the Car
19:10 - 2.4 Every Upgrade Becomes Your New Floor
20:51 - 2.5 Be the Deadbeat Your Card Company Hates
22:38 - 2.6 The Real Millionaire Rides the Lawn Mower
24:43 - 2.7 Borrow Against Your Machines, Don't Sell Them
27:32 - Big Rule 3: Luck Is a Position, Not a Prize
27:49 - 3.1 Luck Hits Everyone, Position Decides Who Catches It
29:07 - 3.2 Luck Multiplies What You Already Have
30:39 - 3.3 Widen Your Luck Surface
32:52 - 3.4 Be in the Room When the Cake Gets Cut
34:42 - 3.5 Keep an Opportunity Fund for the Sale
38:33 - 3.6 Get to the Shift Before the Crowd
39:58 - 3.7 Sell Shovels to the Gold Rush
42:34 - Big Rule 4: Getting Rich and Staying Rich Are Opposite Games
43:37 - 4.1 Big Risk With Small Money, Then Small Risk With Big Money
45:32 - 4.2 Concentrate to Build, Spread Out to Keep
47:06 - 4.3 Spend the Interest, Never the Principal
48:54 - 4.4 Never Keep It All in One Vault
51:15 - 4.5 Give Family the Apples, Never the Tree
53:06 - 4.6 Leave Your Kids Enough to Do Anything, Not Enough to Do Nothing
55:43 - 4.7 Insure the Disaster, Not the Dent
57:36 - Big Rule 5: Past a Point, More Money Is Too Expensive
57:54 - 5.1 You Were Born a Time Billionaire
59:04 - 5.2 Price Everything in Hours of Your Life
1:00:31 - 5.3 Money Has No Finish Line
1:01:48 - 5.4 Retirement Is a Number You Can Calculate
1:04:21 - 5.5 Past 55 Hours, You Work for the Cardiologist
1:06:35 - 5.6 Spend It While You Can Still Feel It
1:08:01 - 5.7 Count Your Remaining Summers
1:09:36 - Bonus: Write Your Rules Down Before You Need Them
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