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The Tai Lopez Show

How To Invest Your Money & When To Buy Or Rent A House

The Tai Lopez Show

Tai Lopez

Business

4.86.9K Ratings

🗓️ 17 November 2016

⏱️ 6 minutes

🧾️ Download transcript

Summary

"When all you have is a hammer, everything looks like a nail." This is one of my favorite quotes because it illustrates the way the majority of people think. Before I opened up my real estate course, with my business partner Cole Hatter, many people I spoke to about real estate equated Renting a house with being poor, and buying a house with being rich. But if you want to separate yourself from the masses, you have to have to think differently then the masses. Because the reality of the situation is that there are many celebrities who rent their homes as opposed to buying them. So do they rent because they can't afford their homes? Of course not. So when should you buy versus when should you rent? What do you do with your income? Where do you place it to get the highest rates of returns? In this video I talk about the secrets of how the wealthy invest their money.Learn more about your ad choices. Visit megaphone.fm/adchoices

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Transcript

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0:00.0

So how are the four ways you can spend your money?

0:03.0

Only one is highly effective, two are neutral,

0:06.4

and one is negative for your long-term wealth.

0:10.0

The number one is daily living expenses.

0:13.6

So you always have to spend money on daily living expenses.

0:16.9

You can have to buy food, you can have to buy clothing.

0:19.7

Depending on your situation, you have to find a place

0:23.6

to live and pay for gas.

0:25.5

So this is not a goal.

0:28.8

Okay, you don't want to get good at spending and consuming

0:31.8

on stuff.

0:32.8

You want to know how to do it, but it shouldn't be your...

0:34.8

It's not a life objective.

0:35.8

It's more like having to go to the bathroom, having to pee.

0:38.8

You have to pee.

0:40.8

Speaking of that, it's actually to go back into the bathroom.

0:44.8

Zach, did you do that on purpose?

0:48.8

I'm going to Snapchat that.

0:55.8

While I'm recording a video from my YouTube blog,

0:58.8

Zach just casually goes back there.

1:00.8

Zach, are you in the bathroom?

1:03.8

He ain't answering anymore.

...

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