How to Properly Manage Your Money Like the Rich | Tom Ferry

How to Properly Manage Your Money Like the Rich | Tom Ferry

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100 Comments

  1. Great job! I’ve started tracking my debts and created a channel to hold myself accountable as well. Please go checkout my channel. It’s Dr. Mommy Budgets!

  2. talks like these are so vague and slow-paced… its like u barely learn anything. seems to me its true they say there's no such thing as free lunch in this world

  3. I am a tax accountant, he says deposit the checks to personal account vs business account, tells people to incorporate is BS. You can still deposit into your personal account because you are self-employed, and you can still deduct expenses even if you dont form a corporation. This is done under schedule C in your form 1040. Don't listen to this guy, he knows nothing about taxes. Forming a LLC or Corporation requires extra expenses & unavoidable minimum state tax in some states than just a regular sole-proprietorship. Especially the new tax law, there is no benefits of forming a corporation if you are the sole owner. Because there is double taxation in a corporation.

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  11. This video falls in recommend pane but I did watched the entire video and didn't understand until I contacted Hilary +1323 364 7770 to get hack services AND it's was compartmentalized

  12. If you want to be rich, buy a big house and a Rolls Royce? If you can buy those 2 things, you're already rich 😂

  13. How about a video for people who have a job and live on 50k a year. Info like that in a video would sure be useful. Assholes.

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  16. yeah so im a single black woman no kids holding down all my bills and investments and the ghetto birds are moving in ten to a house ready to kill all the comfortable people on the block so low wage people hating on independent people for existing is not going to change

  17. Good morning Tom. Thank you so much for the videos.. about the business.. should my check go in my business Savings or checking?

  18. Excellent video. I stop using banks because they take your money. From now on I will keep the money and look for ways to put my money in safe place that are not banks.

  19. I live in Canada. When I get a $10k cheque (not check) I net maybe $7k of it, not $4500 like he claims. The usual "evils of socialism" bullshit.

  20. guess what bro, your solution works fine for a period of time where everything is quite stable (your income and your expenses). life isnt like that though. the checks aren't always coming and the needs (expenses) required for your life can change any time.

  21. I have SOO many questions! If anyone can answer a few of these for me, I'd be really grateful! 😅
    1.) I notice, in order types (brokerages), that Limit and Stop Limit are separate categories. Are we able to set a minimum AND maximum price of which we're willing to sell a stock?
    2.) A stupid question, but who comes up with the price of shares: the market or the company? I just find it interesting how much Amazon shares are worth (~$1,800) compared to stocks like Apple (~$200) and Snapchat (~$17).
    3.) When earning capital gain from investing in stocks, do we need to fill out tax documents on our own? How do we send the money to the IRS? I've never filed a tax before lol.
    4.) Are tax expenses only viable to individuals that own businesses? How difficult and costly is it to start our own business and can we make ourselves the only member of the business? Can I use my home address and if I don't have a set location for the LLC?
    I can't think of anymore questions at the moment, but I will edit this post in the future!

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  23. So I’m 16 rn I got my first job not to long ago and I got a bit of money I really only spent 120 of all the money I made but I’m dying to spend it what should I do man I just wanna save it but it’s so tempting to spend it

  24. Hey bro like you said. I opened a company .

    Now Kindly upload next video how to file bankruptcy!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  25. Good point Tom. This is what the rich do. Manage your money, repair your credit, save more than you spend, earn extra income, pay less taxes because you now have a business. Use tools like http://myeconomy.net

  26. That's sad old pple rely on goverment and family but that's what happens u work ur life away till ur 65 and then look back and say where did my life go welcome to america u work to die

  27. I think it's crazy how the average person doesn't know this. Glad there's a video that explains the basics pretty well.

  28. Control your money like a pro ~ http://tribanercorp.com/best-budgeting-tools-and-resources/ Tips and tricks to help you adapt and grow financially. Some of these points in the video are out of your control, so its up to you to harness what you can control today!

  29. BUILDING MY FREAKING REAL ESTATE BUSINESS AND THANK YOU FOR EXPLAINING THE TAX ADVANTAGES I NEED TO TAKE ADVANTAGE OF,,,, A MILLIONAIRE I WAS BUYING SOME PROPERTY FROM SAID DON'T WORRY ABOUT A LLC BUT NOW I SEE I CAN'T TRUST NO ONE IN THIS BUSINESS 💪🦅🦅🦅🦅🦅🦅🦅

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  31. Nothing kills me more than seeing a min wage worker take 2 week vacations down south every few months … you know who you are!

  32. Question and I don't care who answers:

    How do the rich manager their time? What amount of time does the reach dedicate to running their business… taking daily breaks for breakfast, lunch dinner… How do they balance earning income while keeping up with current events and news articles and how much time to they dedicate to watching the news? How much time do they dedicate to learning a new skill while at the same time closing a business day and getting money?? It seems difficult to juggle. Any books, videos and info on how to do this would be appreciated.

  33. Wow! I just came across Tom Ferry’s channel…what a gem! 💎 To everyone who’s just starting out like me, good luck and I’m wishing success to everyone! 😊🙏🏻❤️

    I just started this channel and currently have only 34 subscribers but I’m pumping out valuable content everyday! Mostly because Tom and others willing to share are such an inspiration to keep grinding! Thanks for the support and continued success to all! 👊😉

  34. If any government deserves money from inheritances the soundest & safest investment should only be to the divinely controlled 2020 government of THE KINGDOM OF GOD. At least the whole world would benefit from Gods love, and those responsible for distributing it would be able to sleep soundly at night knowing it would never be used to harm or hurt anybody, it would be the most righteousness thing to do. Even The Lord God I'm sure would look favorably on the founders of his Kingdom of God on earth. A very sound and divine investment for all concerned.
    AS A GIFT l it will allow so much. Thank you & bless you.

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  40. Get yourself into deep debt in order to motivate yourself to work is advice that people use? Insane. Life is expensive as it is, if you don't have money, you essentially are in debt to your future. So if you are saving money, the more saved the more ahead of the game you get because you get ahead of your future expenses.

  41. The point of the video idiots ! Is for when you have a plan in place and need some structure on how to prepare and/or take off from the foundation. The ones with the smart ass comments are the ones who just watch videos on YouTube like a kid. But cool video it’s gave me some spark ⚡️

  42. Great video Tom, we have a Ltd company and started to rent a room on Ari BnB privately and thought should we run it through the business? This confirms that we are on the right path 🙂

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