I do not agree with everything Tarhaka Amaana Bey says in this video, but overall it is a good orientation to how to think about wealth:
- Assess your wealth through Income, Expenses, Assets, Liabilities
- Move your income into a corporation, which is shielded by a trust, and then move that income into an asset – an asset is something that regularly pays you.
- Ask yourself: “if you stop working, will your assets feed you, or will you liabilities eat you?” In other words, you need a system that produces income while you sleep or you will work until you die (Warren Buffet said that).
- for All income that you receive, 10% should be put into an ASSET (not just saving. but an ASSET).
- (From Kiyosaki’s Cashflow Quadrant): there are 4 ways to generate income – employed, self-employed, business owner, investor.
- At 14:29 he says “we dont have any money, all we have is debt” – well, gold and silver are money and we can have them as an asset.
- His suggested asset class is weak and low-yielding and does not outstrip the inflation on the dollar. Gold-backed cryptocurrency is a superior solution (but I’m always looking for others).
- He suggests “investing in foreign currencies” – that’s suggesting that you substitute one debt note for another, both doomed to enter the currency graveyard.