In this video, Dan Lok gives us seven things that the rich buy which the poor don’t. Dan Lok tells us that the rich buy assets whereas the poor buy liabilities believing them to be assets. Assets are important because they allow cash flow. Business is an excellent asset to invest in. Rich people either have multiple businesses or they invest in multiple businesses which allows them to make more money. The poor however just receive a pay check and trade their time for money. Real Estate is another brilliant example of how the rich invest their money. The rich buy properties, develop them and then make a huge profit from them. Paper Assets such as stocks are also a great asset to invest in. Intellectual property is scaleable and it also has a low maintenance fee which is why the rich invest in it. Precious metals such as gold and silver will always have huge value and as a result they can be used as currency. Audience is a new asset that allows us to scale and expand very quickly and can be converted in to huge profits.
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Think & Grow Rich
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