A short YouTube talk by John Assaraf outlining the four pillars of financial wealth: earn (generate income by exchanging knowledge/products/services), manage (budgeting, taxes, expenses, saving), invest (putting money to work via stocks, businesses, commodities to leverage compounding), and protect (risk management to guard growing investments). Video contrasts financial wealth with other types (emotional, spiritual), emphasizes having plans for each pillar, and ends with a call-to-action to like/subscribe.
Chapters
Hey, this is John. I want to talk with you today about the four pieces of the wealth puzzle. And most people think that making money is the only piece of the puzzle, the only factor to being wealthy. And for now, I'm going to talk about financial wealth versus emotional wealth, spiritual wealth, and all the other types of wealth there is. But there are several different things that you really want to consider around the four different types of wealth. The first type of wealth is really around gaining the income, the money that's flowing into your life through exchanging your knowledge, your products, or your services in exchange for money. And that is the first pillar of wealth, and that's the inflow of money. However, the second piece of the puzzle around wealth. And this is one that most people just absolutely miss, even if they're enough money. And that is, what do I do with that money? Most people don't have a financial management plan, so a way to manage every dollar that comes in. Most people not only get the money in, but they spend more than they make. So you have to have, in addition to an earning plan, you have to learn how to manage your money for taxes, for investments, for your expenses, for anything else that will require your money's attention, including saving. The third part of acquiring wealth and part of the wealth puzzle is the investment side of money. And once you start to earn a little bit more than enough, if you really want to take the laws of compounding interest, that is one of the ways that you can now put your money to work. So instead of you working for money, now you can take some money and put it to work for you. Whether that's in the stock market, whether that's in a business, whether that's in the gold or commodities, you can now put your money to work for you. That's the third pillar of financial success and wealth, the fourth pillar that you've got to start thinking about. Once you have enough money coming in, you're managing it well, you're investing a little bit or a lot, then the next piece is how do you protect your investments so as they grow, as you build your wealth, you can now protect yourself from any downside, whether it's in the stock market or real estate or in any other capacity that you may have money invested like a business. So now you've got the four pillars of financial success and wealth. Earn, manage, invest, protect. And so what I want you to do is, if you like these types of videos, click like, share it with whoever you like to share it with by hitting share on this page. And then below is a way for you to subscribe to my channel and I'll share with you more videos like this on a regular basis. Why am I doing this? I was blessed in having some wonderful mentors teach me this way of thinking and I want to share it with the world. So if you like it, subscribe to my channel. I'll get many more of of these types of videos right to your door.
