15 Ways to Safe Guard Sudden Wealth
Рет қаралды 157,267
Күн бұрын15 Ways to Protect Sudden Wealth or Financial Windfall
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In this Alux.com video we will be answering the following questions:
What to do with money?
What to do if you suddenly get money?
What to do if you inherit a large sum of money?
What to do if you win a large sum of money?
What to do if you win a fortune?
What to do after you sell your company?
00:00 - Intro
00:46 - Don’t tell a soul!
01:35 - Get rid of high interest
debt immediately!
02:10 - Max out your retirement
02:49 - Instead of paying off your
house: 75% of it should go towards rental properties
03:42 - Instead of going on holiday:
10% to alternative investments with proven track record
05:20 - Get an accountant or
tax advisor to make sure everything is by the book
05:59 -Don’t screw around - now you have something to lose
06:44 - Control your spending urges
07:51 - Consider inflation and adjust for it
08:40 - You gotta get smart
about money
10:10 - Consider the lifetime
cost of ownership for the things you buy
11:44 - Do not give away parts
of the principal to your family or friends
12:42 - Do not give away
a portion of it to charity
14:20 - Move the money
out of the country
15:14 - Develop a vision
for the rest of your life
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@alux 11 ай бұрын
Hello Aluxers! What's your plan for all the money coming your way? Skip the waitlist and invest in art like the rich: www.masterworks.art/alux Time to get serious about your life: www.alux.com/app
@stevenporter863 11 ай бұрын
The best things don't need to advertise so much because they sell themselves. Makes the Alux app look cheap if you keep pushing it - like a used car salesman.
@greekre 11 ай бұрын
did you just say, dont tell your spouse???? you must be american
@marydecouvertes3789 11 ай бұрын
I take this opportunity to urge you to produce an episode on Markus Notch Persson. It's crazy that you still haven't.
@stevenporter863 11 ай бұрын
@@marydecouvertes3789 Who? The video game guy?
@marydecouvertes3789 11 ай бұрын
@@stevenporter863 The creator of Minecraft, yes.
@MarvishaN 2 ай бұрын
This is GOLD. No one is coming to save you, bitter truth. Do away with procrastination. If you take your life seriously, you will see a permanent improvement. I started and learnt consistency at 32, wasn't easy to inspire myself guys, but today I have over $3 million in my retirement savings at 40 after buying some shares.
@tommyers0 2 ай бұрын
Congrats on the win man! I am on the same path and It's not even that hard to do. Too rigorous for newbies, maybe, but thats why its advisable to consuIt with good a market strategst.
@georgeh.5126 2 ай бұрын
Agreed. I deal with an investment advisor for this reason. I currently have over $880k invested in a diversified portfolio that has grown exponentially and is suitable for all market seasons. Our current project for this year is a more concrete ballpark target. Personal best so far.
@Bezosjesss 2 ай бұрын
@georgreh That's quite incredible! My p0rtfolio has been performing poorly and i've lost a significant amount of money, therefore I could really use their advice. Who is the advisor?
@debwes1 2 ай бұрын
@georgreh Please Who is the advsor? Hope you dont mind
@georgeh.5126 2 ай бұрын
’Amber Russell Bennett' is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
@watsonkashala99 11 ай бұрын
00:00 - Intro 00:46 - Don’t tell a soul! 01:35 - Get rid of high interest debt immediately! 02:10 - Max out your retirement 02:49 - Instead of paying off your house: 75% of it should go towards rental properties 03:42 - Instead of going on holiday: 10% to alternative investments with proven track record 05:20 - Get an accountant or tax advisor to make sure everything is by the book 05:59 -Don’t screw around - now you have something to lose 06:44 - Control your spending urges 07:51 - Consider inflation and adjust for it 08:40 - You gotta get smart about money 10:10 - Consider the lifetime cost of ownership for the things you buy 11:44 - Do not give away parts of the principal to your family or friends 12:42 - Do not give away a portion of it to charity 14:20 - Move the money out of the country 15:14 - Develop a vision for the rest of your life
@BayaniMagtanggol 11 ай бұрын
You forgot one most important thing: invest in your health. You now have all the money to spend to live longer than you would ever dream of!
@romesantana8960 7 ай бұрын
Exactly that the first thing
@lisak663 6 ай бұрын
want to chat about it? want to earn more, help others with top notch Superfood combos, leaders, and comp plan?
@BobHolyoake 5 ай бұрын
90 essential nutrients is needed for long life, money isnt alone isnt gonna give you long life.. billionaire dont live any longer them most people.
@antoniobrasse7157 11 ай бұрын
CPA here 👋 if you want proper proactive tax planning, it will cost you 2k a month not 2k for the year. If you do come into wealth, especially if you're a US person, you need to create a tax exempt private foundation, an onshore trust and offshore trust. If you know you're coming into money soon, get those trusts set up asap first and where possible whereever the money is coming from, try to have them pay in the name of the trusts. If the money is coming from overseas, you have your offshore trust take the income so you've created a tax deferred situation. Overall the trusts and private foundations generally help you with asset protection from civil suits. I just gave a ton of high level advice for free that would cost you tens of thousands of dollars at least.
@sarahreneesmith7023 11 ай бұрын
🙌🏼🙌🏼🙌🏼
@BGL333 11 ай бұрын
Thank you for this. What would you say is the lowest dollar amount of windfall needed to prepare as you described? For instance, are the trust(s) and private foundation needed for 250K, or 500K, or is this more appropriate for 2-3 million and higher?
@antoniobrasse7157 11 ай бұрын
@@BGL333 you're welcome. I would say if you're fairly certain that you're going to generate millions or more over time and starting in the near future, I'd say once you bank 250k to 500k that you don't have any immediate needs for, that might be a good time to start looking into it with the right attorneys around both private foundation and the trusts.
@djjohnnyparis5183 10 ай бұрын
I can't fathom giving someone else distinctive rights to my money. Setting up a trusts feels / seems risky to me. Remember that "Lottery Lawyer" guy? He's in jail!! Their trust of him setting up trusts for their lottery wins was a scam, and he was given the legal rights to maneuver their money how he saw fit. Yeah, right into his own pockets and his mob friends pockets. My guard is always up regarding other people having a say of how my money is handled / invested.
@umhlangatv1567 10 ай бұрын
Thank you. Well appreciated.
@Nernst96 9 ай бұрын
Making money is not the same as keeping it there is a reason why investments aren't well taught in schools, the examples you gave are well stationed, the market crisis gave me my first millions, people shy away from hard times, I embrace them., well at least my advisor does lol
@Dannyholt33 9 ай бұрын
I diversified my 62K portfolio across multiple market with the aid of same Investment-Adviser & I have been able to generate over 356k in net profit across high dividend yield stocks, ETF and bonds in few months.
@sattler96 9 ай бұрын
@@Dannyholt33 That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
@Dannyholt33 9 ай бұрын
My Financial adviser is ‘’Colleen Rose Mccaffery’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
@sattler96 9 ай бұрын
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
@thatundeadlegacy2985 8 ай бұрын
Investments arent taught in school because investments are gambling and normal people shouldnt do it. they should teach them how to save.
@xiuying6874 12 күн бұрын
Our world is rapidly moving towards the cashless economy, most of use today will be unlucky to witness it begin in the US, I knew this and I have been investing all of my cash, Mostly into stocks & a few crypto. My IA, strongly invests most into EVs, we believe it has a less than 8 years horizon.
@jessicaknoll4700 12 күн бұрын
I got interested in the stock market recently I’ve got money laying around, Care to share how you find a good investment adviser or what platform you using?
@xiuying6874 12 күн бұрын
You should look her up, Essmildaa Morgan is all over the net
@jessicaknoll4700 12 күн бұрын
Did a quick web search, she has a pretty decent credentials, I wrote her and I'm waiting on her reply.
@veliadisrosasjr1647 9 күн бұрын
Essmildaa Morgan has been the key factor in the buildup of my dividend growth portfolio. I am learning more and pushing more to buy assets, with one goal of steady dividend income
@john00123 7 күн бұрын
Essmildaa Morgan is a reputable Family Woman and seem very intelligent and communicate in a very simple yet efficient manner that I understand.
@lunchbox6576 10 ай бұрын
I gained the most wealth not by acquiring more, but realizing that I could be happy with less. - Marcus Aurelius.
@karrykae3010 11 ай бұрын
Dog! 😂 If $500k fell into my lap, not a soul would know. Stealth wealth is absolutely where its at! Thank the non existing deity that Alux is able and willing to put helpful information out there!
@linamaidgardens3361 11 ай бұрын
Dog
@Jholmesballa016 11 ай бұрын
I’ve had the app since day 1. I feel more inspired by your KZfaq vids than the content on the app. Sincerely future billionaire
@Jholmesballa016 11 ай бұрын
But nevertheless the content on the app is very essential and worth the price
@robbentodd6824 11 ай бұрын
Dog, that was some of the best financial advice I’ve heard. Back when I was poor I listened to an Econ teacher from the U of M. I followed some of his advice and invested pretty aggressively for over 20 years. Best plan ever!
@BloodySoup74 10 ай бұрын
Minnesota or Michigan?
@robbentodd6824 8 ай бұрын
Minnesota. He had a video series with his students on cable access.
@fephoenix9208 11 ай бұрын
DOG appreciate the info much-needed advice for when I actually experience getting a windfall.
@sarahreneesmith7023 11 ай бұрын
Dog! I work at an estate planning law firm in the Wealth Strategies Department so I have some experience in planning for sudden financial windfalls… I have a couple comments respectfully, this is not legal advice, just my experience from my time working in this space: First things first, the best way to plan to safeguard for financial windfall is to PLAN AHEAD of your monetization event.. much more can be done ahead than can be done after the fact 1) Find a law firm that does this kind of planning 2) Yes, while having bad debt is inherently “not good” it’s not always best for clients to pay off “bad debt” if they have a low enough interest rate because the money is cheap. It makes more sense to keep the cheap debt and use the cash they would have spent paying it off to acquire more assets (every case is unique) 3) We’ve never recommended our clients max out their retirements, ever When you’re dealing with higher net worth individuals, they’re likely in the highest tax bracket, meaning you’re advising that they stash money into an account that 50% will end up going to the IRS in the end and that’s not the goal. We utilize cash value life insurance as a retirement supplement to avoid this 4) paying off house - same as above, if it’s cheap debt purchase more assets 5) Our firm ensures all high net worth clients have a close advisor relationship to manage to investments 6) same with a CPA / accountant - ensuring everything is by the book ensures that all tax advantages for various entities remain in tact 7) We utilize a variety of trusts and entities to ensure money remains safeguarded and passes from generation to generation & a number of them have a charitable component, it’s not about “not giving away to charity” it’s about how we can maximize the benefits of charitable giving for both parties 8) the majority of our clients have estate taxes to worry about on top of cap gains taxes or income taxes from a monetization event - sometimes the best strategy does include gifting to relatives utilizing various trusts but we include guardrails to protect those relatives from themselves Lastly, vision is the most important factor 🙌🏼 completely agree Again, not legal advice, but if you’re reading this and you have a windfall coming, seek professional help 🙏🏼 God Bless Alux, thank you for all you do
@andreajueal8243 11 ай бұрын
Dog, Most people venture into crypto to be wealthy,meanwhile I just want to be debt free.
@tobytaylor4051 11 ай бұрын
Talking about been successful. I know I am blessed if not I wouldn't have met someone is as spectacular as Anna S Wilson
@tobytaylor4051 11 ай бұрын
She has helped me recovered a lot from the time I have trading with her
@leahmolly9150 11 ай бұрын
Yes I'm a living testimony of Anna S Wilson, her platform has also done a great thing for me
@claresmithy4667 11 ай бұрын
Anna s Wilson successful stories are everywhere, all over the place
@lindapoplin7150 11 ай бұрын
Currently i can attest to the fact that I make $18,300 weekly through trading which is more better then my monthly salary job. trading becomes my passive income.
@eliinthewolverinestate6729 10 ай бұрын
First thing know the difference between money and currencies. Money is a store of value. Currencies loose value over time. Saving currencies is like using a leaking gas can. Clearly something the people at Alux haven't learned. The dollar has lost 50% of its value in 30 years. How much will your retirement loose and cost of living increase? Second thing get rid of debt. Third get rid of bills. Fourth learn to live cheap. Maybe buy or build a passive solar house to get rid of utility bills. Look for stores of value. If you have skills the tools to go with those skills can be a store of value. Some invest in art. But entertainment is first thing people cut out of a budget. We all need water, food, shelter, first aid/medication, means of defense, and a plan. Looking to retire at 50 or sooner. Move out of currencies and into money. If you don't hold it you don't own it. I don't do rentals it's less headache to flip. Only paying once to have them fixed up and not paying taxes and up keep. I have recently got 2 rentals fixed up for landlords. One to sell. About to fix up another that failed bank appraisal. I make more off other peoples rentals than they do.
@jaylewis9876 10 ай бұрын
Great point about chairity! 15% gets to the end need so no wonder all these problems never go away! Give directly to the need and its 667% more effective. Not mentioned is this also feels better than writing a check to a faceless non profit. Much more time consuming but maybe at that point your time is better spent on this than grinding for more wealth
@anitapauline651 11 ай бұрын
Smart investments and savings....are good ways to sustain wealth....there are high rising stocks to buy and having a good financial advisor is a good way to follow up....got myself a house earlier this year after quitting my job last 2 years..thanks to martin Alex tarlor
@SteveJim-pg3fv 11 ай бұрын
Wow that is huge, how did u go about it?
@anitapauline651 11 ай бұрын
@@SteveJim-pg3fv just Google Alex martin tarlor' page online and contact them from there.
@gwencaveman8851 11 ай бұрын
Yes I know him .Alex surely knows the job, I and my neighbor so far have made huge in returns. He is a good financial advisor
@bujubantomn8038 11 ай бұрын
@@anitapauline651 ok I have done that. Thanks
@justamom4902 11 ай бұрын
Exactly!!! As soon as people find out you have money, they set about trying to get your money. The best advice I can pass on is before you send any of it, categorize it. Make a budget and even your extra money, or your spending money, give it a job so if anyone asks for money, you don't have any for that. And stay away from credit cards and loans. Only use a trusted bank for a loan if necessary and, if you can, have the cash but take a loan out again cash to still get the dividends. And when buying things like cars or homes, don't forget to take into consideration all the expenses it's going to cost; utilities, insurance, taxes. I think that's where most lottery winners go wrong, they want the big house and expensive cars, but forget to figure in all the bills that come with it.
@lunavodacoaching 11 ай бұрын
Excellent points! I completely agree about the importance of investing in rental properties, keeping your assets private, investing in art and starting your own charity or covering the invoices yourself to make sure the donations are directly deployed by the recipient.
@1cut1 11 ай бұрын
In the UK isn’t it 40% capital gains. And what if we are in a price bubble?
@ericwilde4583 11 ай бұрын
getting into Investing to create a passive income should be priority of every financially literate person...I made my first million from having a secured diversified portfolio that spread across stocks, grade bonds, coins and etfs.. ever grateful to Susan Kay Mack my CFA handling my portfolio. smart investing is key
@robertthurmond8161 11 ай бұрын
The stock market controls a huge part of my passive income portfolio, I invest big and my profits come even bigger
@donaldlocher2537 11 ай бұрын
I did read about Susan Kay Mack on the web., quite a great resume she has
@harleycartley3138 11 ай бұрын
I also think that we salary earners need to realize that monthly income will not make you rich.
@harrisahmed3066 11 ай бұрын
Did a quick web search, she has a pretty decent bio, I wrote her and I'm waiting on her reply.
@RelaxedRevitalized 10 ай бұрын
Dog
@trusno7751 11 ай бұрын
Thanks for the video Alux, we over here at T.N.E absolutely love you guys! Definitely would buy some land, more stocks, & invest a larger portion into my businesses to expand! D.O.G
@Charlie101Ventures 11 ай бұрын
DOG!!! Here comes Financial freedom!! 🙌 🎉
@cellcat 11 ай бұрын
Please do a video on the mechanics of creating AND managing a Life Vision … and not just a discussion of this concept. Seriously, if this is a common thing that the wealthy are known to do, then there are physical actions occurring. So what are these actions, the tools used, who provides the various services, and how often do we work on the management of the Life Vision? Thank you in advance for helping us learn about these important financial tasks. 🙂
@georgevalentin77 11 ай бұрын
Dogg❤ ! Priceless insights ,and btw something screamed in me when I heard "don't give your money to charity "😂 I was like ,yessss finally! Cause i've also seen it all my life as not being a solution to poverty .So it was very releaving to know I am not the only one that thinks that way,Thank you Alux!
@juanital.5593 11 ай бұрын
Dog. If I suddenly would be that lucky I'll will keep it to myself. A harsh one was the fact about charity and people with financial problems. Thanks for telling the truth Alux!
@monahengmakhetha1824 11 ай бұрын
I really like what you have done in Uganda, I live in South Africa but I am from the Kingdom of Lesotho and I think there are valuable use cases for assistance in my native Lesotho. To your point I don't belive in entrusting funds to politicians and other people who may divert funds...
@rhapzodyb 8 ай бұрын
You're Not Wrong!
@thelookout7084 11 ай бұрын
Thank you for sharing. But more than anything, I want to thank Mr. Dan Price for his strategies that led me out of the poverty swamp.
@kevinallary4241 11 ай бұрын
Wow, I am surprised that you mentioned and recommended Dan Price, he is very skillful in trading. I recommend trading based on his help.
@lucianoyt4631 11 ай бұрын
I have heard a lot of stories about Mr. Dan Price's investments, how good he is and how he continues to change the lives of his clients around the world.
@ShaneFulton-zw6yk 11 ай бұрын
I thought I was the only one who knew him, but now it seems that his good reputation has made it possible for me to meet him here as well.
@HiramLarson 11 ай бұрын
Since I invested $7,000 with Mr. Price, I now have $29,450 in my portfolio and the returns continue to grow. I honestly want to quit my job and focus more on his trading.
@RilanOrtega 11 ай бұрын
May I ask how I can maximize the benefits of my trading?
@kkrobertson1 10 ай бұрын
Thought this was just another one of those...you know videos! But the advice in this video is solid!!! Was not expecting it to be this informative, straight forward and HONEST!
@hermadnessmedia2544 11 ай бұрын
My problem is the urge to share the good news knowing it's a bad idea. Hopefully when I do come into money I'll be able to keep quiet.
@kingmaafa120 10 ай бұрын
Trust me it’s a good idea😅
@qudis7950 11 ай бұрын
when i came into money i changed my mindset not my clothing, car or lifestyle i carried on with the appearance of trying to make ends meet know bothered me for anything and mentally i developed financial wisdom and peace.
@jethrocoeiii1501 11 ай бұрын
Thank you Alux!! Loving your journey🙌🏾💯
@bebotagbayani8869 11 ай бұрын
DOG❤
@joshuamclellan1736 11 ай бұрын
DOG, this is great advice and I will make it to the point of needing it!
@basilmousa1517 11 ай бұрын
DOG, another amazing video by the amazing Alux team, love u guys 🎉
@shawncook7656 10 ай бұрын
Spanish proverb, two things cannot be hidden, great sorrow and great wealth.
@JelloRolls53 11 ай бұрын
Great list of things to do. Love the channel and looking forward to the app. 🐕Dog
@henrydeejoejr.915 10 ай бұрын
Great content as always. Thanks again, and keep inspiring us to do more. The bonus was just magnificent 👌
@gabriellacompany 11 ай бұрын
Thankyou for another video ALUX
@lizzrussell7 10 ай бұрын
This was an excellent video. I enjoy all of your advice thank you for pouring into your viewers and listeners.. dog
@livinglifesosoft3344 11 ай бұрын
DOG. I would sit down and re watch this video and take every applicable step to spend my money wisely.
@estifanosberta-samuel2570 11 ай бұрын
DOG! I’d certainly take a portion of a financial windfall and invest it into multiple “low cost of upstart/ operation” ancillaries that would garner massive financial gain!
@wilfredmacdonald8245 10 ай бұрын
Great advice, never tell people things they don't need to know. Where the money and investments are will only incite greed. Too many weathy people have been defrauded by people who proported to be financial experts. The thing that I love abought wealth is the freedom to come and go as I please when I want to. To never have to worry about a car problem or an appliance problem. Learn to be your own money manager and stay away from the Bernie Madoffs of this world.
@javaidak4204 11 ай бұрын
Quite relevant and makes sense according to ones own situation ❤
@mymixdayofficial1267 11 ай бұрын
I definitely bought a rental property first 😊
@ssumrall70 10 ай бұрын
Charity donations can be a tax write off so that can be a better use of it than it going to the government.
@carlomalabanan 11 ай бұрын
Addition to charity giving - If you are rich and have a plan not to give 100% of your inheritance to your children but instead give them to charity, I would say that is highly absurb and selfish. Your children should be entitled to your full inheritance as much as possible, and if you have trust issues with your children I would say that is your fault on not teaching them the right way of discipline since you forget that your children, starting from the beginning of their birth, are YOUR RESPONSIBILITY AS A PARENT!
@rajumalla6790 11 ай бұрын
Your videos are always useful and motivating. This video is a particularly useful. Thank you very much.
@phillipkyobe2327 11 ай бұрын
This is very impressive. Thank you very okay
@LongLiveIvanna 11 ай бұрын
Just downloaded the app; can't wait to implement this advice ... (DOG :-) )
@purplemashine9122 11 ай бұрын
Don't SUDDENLY dress more "RICH" and or buy a Ferrari, Lambo,etc. Low key is the key to be free!
@mariemac5347 11 ай бұрын
I’m praying for sudden wealth 😂🎉
@becomebillionaire 11 ай бұрын
Get Married to millionaire
@Jholmesballa016 11 ай бұрын
Im an Aluxer at heart. I just need the investment plays to execute
@mulengakasongomoonde3169 11 ай бұрын
Dog! Great insights as always❤
@l.yannickd.1035 11 ай бұрын
So many gems as always, I am DAWG-minded when it come to digging them out 🐶
@Incab 10 ай бұрын
With interest rates right now just put it in a 1 year cd at 5%. Gives you time to plan and takes it out of your hands to do something stupid with.
@zamo9266 11 ай бұрын
DOG. I cant believe it's taken me so long to download your app. Thanks ALUX ❤✨
@tricara 11 ай бұрын
DOG. Thank you for this great advice.
@anitamccarthy3027 11 ай бұрын
Getting rich is easy if you understand the little basics involved, and one of the simple basics is getting multiple income streams. I'm rich today because I was involved in different income streams like real estate, stocks, crypto and more.
@michellehenderson1144 11 ай бұрын
Very interesting, I don't have any knowledge on these please, I'm thinking of investing on Bitcoin but i need a professional to guild me through on it so i will start
@peterjamie786 11 ай бұрын
Search her full name Frieda-Ann-Ellis You will find her on google
@bacraymutafela7323 11 ай бұрын
Working with specialists like Frieda_Ann_Ellis in any pitch will likely result in improvements and profits.
@stevierayripple 11 ай бұрын
Buy physical Gold and Silver...... I can't believe that wasn't said ????
@mandydebaugh1170 11 ай бұрын
dog. love the advice, enjoy the truthful realities of this video. thank you!
@dazzleheights 11 ай бұрын
OMG OMG OMG This is exactly what i'm going through ALUX
@Gdrtffd 11 ай бұрын
The most important thing that should be on everyone's mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the world. This is still a good time to invest in various stocks, Gold, silver and digital currencies. I never imagined that a few thousand dollars per month would add up. However, it is. I've made around $600,000 since 2020.
@shelbynamels973 5 ай бұрын
@sandrabeckham602 Linda Perez Lewis is a charlatan and a grifter who doesn't know her elbow from a hole in the ground. Prove me wrong !!
@miguelgonzalez6213 11 ай бұрын
#4 I think Kiyosaki says this all the time. "Put your money into something that will make you money." Not sure who I heard it from, but remember a quote that if you want something, take a look at what it costs and invest in something that will pay you back that amount. This way, it is a recurring passive income and not a one-time expenditure. Plus, you set yourself up for potential tax breaks and write-offs down the road.
@latishacampbell5764 10 ай бұрын
To be honest, the bonus tip has been the most difficult for me. I understand that having knowledge is not power, execution is necessary. Seems so basic, but has been a though one. I am improving.
@FunNHonesty 11 ай бұрын
Thanks. I just found 3 nickels in my couch. This video taught me how to manage my new found wealth.
@BronxCrypto 11 ай бұрын
Real Estate is a big pain in the a$$. Lots of carrying costs (insurance, taxes, renters, maintenance, HOA, etc) and not always easy to unload. Expensive to unload too! I'd pay off high int debt, current mortgage and invest in Tesla and BTC. Simple plan.
@adocuric9154 11 ай бұрын
Good advice.
@maryloubautista2317 11 ай бұрын
Real estate is still a good investment. Just make sure you invest in a landlord friendly state so that when you have squatters (aka homeless) come in and make themselves comfortable in your investment then you can have them evicted without any problem. Also, get into REIT (Real Estate Investment Trust). Ask your Financial Advisor about it.
@BronxCrypto 11 ай бұрын
@@gagged_user IMO, they are not as speculative as main stream media make them out to be. Tesla is already changing industries and BTC is a must have asset. I've tracked the adoption of both assets since 2012 and 2017, respectively. The biggest financial institutions are adopting BTC. Real estate is just one huge, expensive anchor. That said, I'm all for owning the house I live in.
@carmenwright7369 11 ай бұрын
DOG…thanks for speaking on giving to charities…people think they are doing something good. Actually they are just making someone else richer. Be a part of the charity so you can make sure the money given goes to those in need…not those in GREED💯.
@kelvinronnoh5322 10 ай бұрын
That was some good financial advices. Especially comparing one's life to a dog.. Good one..
@bonganinkosi788 11 ай бұрын
DOG- my vote of thanks for such great information.
@azmike3572 10 ай бұрын
#16: If you win big and you're single, STAY SINGLE!!
@gammi6297 11 ай бұрын
DOG! Thanks for this good advise, and when I get my Millions this advise will surely help 😊
@danielnolley6684 11 ай бұрын
As for the 500k, I'd invest in income producing assets.
@Vijayvijay-uu9kp 11 ай бұрын
1. Don't tell a soul 2. Get rid of High interest debt immediately 3. Max out your retirement 4. Instead of paying off your house, 70% of it should go towards rental property 5. Instead of going on holiday. 10% to alternative investments with proven track record 6. Get an accountant or tax advisor to make sure everything is by the book 7. Don't screw around - now you have something to lose 8. Control your spending urges 9. Consider inflation and adjust for it 10. You gotta get smart about money 11. Consider the lifetime cost of ownership for the things you buy 12. Don't give away parts of the principal to your family or friends 13. Don't give away a portion of it to Charity 14. Move the money out of the country 15. Develop a vision for the rest of your life
@stevenporter863 11 ай бұрын
Alux keeps pushing their app. The best things don't need to advertise so much because they sell themselves.
@chege2139 11 ай бұрын
Getting here as fast that sudden wealth 😂😂😂
@kiptoo5378 11 ай бұрын
Another Kenyan Aluxer here 😂😂🇰🇪
@peterbradshaw8018 11 ай бұрын
Take the SIE course by FINRA Securities Industry Essentials. Read economic history. Get the Enrolled Agents reading list for the exams and read them. Do the CFE lay mans course.
@Deveren1 11 ай бұрын
Dog...I've been An Aluxer since you launched the channel. You guys have came a long way. I should be grandfathered in and privy to all you offer. 🤣 Keep it up!!!
@rethinkrich 11 ай бұрын
Wealth is silent!
@supermichaelssecondchannel4342 11 ай бұрын
¡No decir un alma!
@AdrianMark 10 ай бұрын
Man, Alux has become really pushy hasn't it? I remember when it was just good info, no bad deals.
@couponbee3311 11 ай бұрын
Dog! Thank you for this valuable advice!!
@l.a.williams1879 10 ай бұрын
Now that I know exactly what the dog to do, just got to get the financial windfall part handled.
@Ronnievega39 11 ай бұрын
It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
@shelbynamels973 5 ай бұрын
Good recommendation as basic advice. Beyond that, there are a lot of qualifications, and different ways to save, depending on your specific situation.
@mattkayem1554 10 ай бұрын
Oh, did I just hear you built a school in Uganda? Would love to know where this school is as I'm from Uganda, I live in Kampala, huge fan of your content, keep it coming
@seanjones4561 11 ай бұрын
DOG this was a phenomenal video!
@jraven5787 11 ай бұрын
Thank you for the information. Dawg!
@doroth215 11 ай бұрын
The part of not giving out money ( of course a one time donation) to charities confuses me. She said because they use it to pay staffs and take care of other of things and then only 15% of the money goes to let's say the Orphanage children they caring for. Wait a moment, aren't they supposed to pay the staffs caring for the orphanage children or those staffs maintaining the Facilities? Of course we want the money to go straight to the children in need, but it's the staffs that are making sure that those children are clean, healthy and being fed meal every single day. They ought to be paid so they can also take care of their families and pay their own bills. People working for charities doesn't earn that much.
@siyandabuthelezi7075 11 ай бұрын
DOG! Very inspiring❤
@Zenas521 11 ай бұрын
If I came into a sudden windfall profits situation, I would contact a business lawyer in Wyoming. I would talk about Trust funds, LLCs, and Real Estate. I would splurge just a little bit however, and purchase a second citizenship in the Caribbean and use it to get a third citizenship in Europe. Can you dog that?
@lubasi1888 11 ай бұрын
DOG appreciate the video🤝
@henryjoseph3093 11 ай бұрын
Treat yourself as if you're someone, you're responsible for helping,I caught that ✍️
@paulinemawad4385 11 ай бұрын
DOG! 😂 Thank you, priceless insights!
@ebonylewis1680 11 ай бұрын
That would be amazing $500,000. I would pay my Tithe, payoff debts, Save, and invest. 🎉
@IT-28 11 ай бұрын
DOG - $500k in today’s economy isn’t really “that much” money but I’d use most of it as a down payment for a Commercial Investment property. Might not be the same around the world, but the commercial market in Australia is still doing relatively well and still provides much stronger cash flow than residential.
@MrsMirandaWarren 11 ай бұрын
If it's not that much then give it away and you’d find out very quickly how much it is
@beverlyj.grevious783 10 ай бұрын
D O G Take care of my health problems and medical needs. Any perceived cosmetic or vanity needs. Get, for myself, the best health insurance. Get best dental treatment and international medical insurance.
@colinchandler6516 11 ай бұрын
thank you have a blessed day don't hurt yourself
@thc408 11 ай бұрын
Thought that was Walter White in the thumbnail for a quick second lol
@sorabhgehlot12 11 ай бұрын
DOG, super video as always guys...
@MS-lv7jt 11 ай бұрын
Protector : Dog, can u cover zodiac & Chinese zodiac relating to alux ultimate goal?
@Lopezjenni10 11 ай бұрын
DOG! I appreciate Alux greatly!
@walkingaroundmoney3361 11 ай бұрын
You have to do some research on which charities to give to. Some keep 90 cents on the dollar that the people they are helping never see. While other charities give 90% or more on every dollar.
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