What it's Like Having "F*
Take a trip to Colorado this week with Ken McElroy. In this video, Ken discusses the relationship between money, time, and personal freedom. He touches on how financial independence can transform everyday life, the challenges of sustaining generational wealth, and strategies for smart investment to maintain a lifestyle without compromising your financial base.
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ABOUT KEN:
Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABC’s of Property Management, and has an upcoming book: "ABCs of Buying Rental Property: How You Can Achieve Financial Freedom in Five Years." Ken is a Rich Dad Advisor.
Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
Ken's company: mccompanies.com/
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#kenmcelroy #realestate #realestateinvesting #FinancialFreedom #WealthManagement #PassiveIncome #RealEstateInvesting #InvestmentStrategies #GenerationalWealth #LegacyPlanning #PersonalFinance #WealthCreation #FinancialIndependence #LifestyleMaintenance #AssetManagement #WealthSustainability
If you want to support the channel, please share this video to increase its reach. It would really help us out, and it motivates Ken to make more videos. Thank you so much it really means a lot.
It seems like you work more than most!
Thank you for sharing your knowledge and experience Ken. It's extremely hard not to smile all the time lately. I had the epiphany that I'm on a never ending learning journey and everything has blossomed into a different optimism level I never dreamed of.....now taking the action part, well.... that's on you 😁, just kidding. Keep making videos Ken, they are appreciated, you are the man!
Money is too often abstracted away from it's underwriting assets which are labor and resources. You should be able to value your contribution to society in man hours of labor. Resources aren't really your anyway.
HELP you OUT??? If you're so rich, why are hand-outs wanted..... BS....
@@outlaw19able When did he ask for a handout? He asked for people to share the video and it would help out.
Self made millionaire here. My business colleagues and I are constantly grappling with the challenge of how to raise our kids to keep them grounded and "hungry". My business partner took his 4 kids to Rwanda for several months to help build a school. The town had no clean running water. He wanted to give his kids true perspective. My solution is to never let them know we are wealthy. They truly have no idea and I want to keep it that way, while training them how to view money and how to invest. Their friends are children of the "high paid w2" Ken speaks of. They have every toy imaginable, as do their parents. Meanwhile, my kids are perfectly happy wearing 2nd hand clothes, or shoes from Wal-Mart. Despite high wages, many of these parents are living paycheck to paycheck. It's mind blowing to me. Anyway, my 2 cents. Great video as always Ken! Hopefully we can meet up the next time you're in Denver.
I think shoes from walmart is pushing it a bit. Why not buy a pair every few years like regular people. I think spending time with them will be more valuable than any material item. Its what really counts in the end.
@@yashpatel261 they're really young, so they go through shoes very quickly. No reason to overspend on quality. Also, could not agree more on spending time with them. I coach my son's soccer team, attend all his boy scout trips and ski with them both every weekend. Time is for sure the most valuable thing.
Competition is a good way to build those mental callouses. Sports and even art like music. Maybe our kids won’t desire to exceed financial freedom into abundance. As long as they’re happy, healthy, and have the discipline to push the legacy without us, money won’t matter. Another idea is to let them know they’re only getting a portion and most of your wealth is being donated 🤷🏽♂️
My dad is pretty well off but I was expected to work as soon as I could. Caddy when I was 14, once I was 16 I worked 40 hr/week during my summers in HS and college. Went to a private school with a lot of spoiled kids. A lot still had drive though, just dick personality
@@stocksxbondage I go back and forth on the donation. It would make me proud to be the one who started a generational legacy. But it might make me even prouder to teach my kids how to fish.
27 year old RV park owner here. I've been growing my portfolio for 5 years straight and I've never paid myself yet. Started with mobile home flipping, now RV Parks & now reinvesting into bigger things. I still work a full time job. Im very close to the point where I dont have to work my full time job anymore. This video inspires me to keep going. Thanks for the motivation Ken!
thats nothing short of incredible bro keep it up
Keep at it- it is coming together!
I just hit financial freedom this year at 34. I bought fixer upper apartments in a great neighborhood and in three years managed to boost the rents nearly 50%. The cashflow of 3k covers my expenses of $2.5k. I still have a long ways to go! 30k/month cashflow is my 10yr goal.
2500 month? Living light
@@KyleMcDermott3 I want to boost my lifestyle, trust me. The best use of money right now is to place into more cash-flowing assets. I can have my mid life crisis later on
@@andersonandrew112 I’m 36, I’ve been grinding with my own business and a job for over a decade. Built up a decent nest egg. I’m Scottish so frugality is in my blood. I’ve had a lot of death around me and see how short life is. Don’t be afraid to live it.
Amazing. Not bad. I hope to get started on this as well. I’m going to invest in real estate when my stocks go up I’ll sell palantir at $50 right now it’s at $21
That’s a low bar…. If the s**t hits the fan (which is what is about to happen), you may lose your financial status fast….
I have big respect to Ken and to those who started from a very humble place and achieved their personal financial freedom. It gives me hope for myself. Thank you!
That was actually the real american dream.
I believe in you
I was told to spread my money across different things like stocks and bonds to protect my $750k retirement savings. Now, with the markets being shaky, should I keep adding money to my portfolio or consider other options?
Absolutely! Having a financial expert has been a game-changer for me. They provide tailored advice that takes into account my unique financial circumstances, which has helped me make informed decisions and avoid costly mistakes.
Thank you for sharing your positive experience! I've been contemplating seeking the guidance of a financial expert myself, but I wasn't sure where to start. Do you have any recommendations on how to find a reputable financial advisor or firm? I'm particularly interested in someone who can provide personalised advice and help me develop long-term strategies for financial growth. Any insights you can offer would be greatly appreciated!
Ken, your 1st, 2nd, 3rd Generation analysis is SPOT ON. I have always said this exact thing. Having worked for a small family business before building my own, I have observed this first hand. The 1st Generation starts with nothing and builds value which generates wealth that the 2nd Generation eventually gets to benefit from. The 2nd Generation sees the hard work of the previous Generation and can relate, but grows up with the wealth from the 1st Generation. By the time the 3rd Generation comes around, they have become so detached from everything the 1st Generation did and being raised in wealth from the 2nd Generation that they don't know how to grow or maintain it. That's why a lot of small family business fail by the 3rd Generation.
There s a saying that says it takes 3 generations to destroy a fortune.
this is 100% true
Why then do families like the Rothschild's and the Morgan's still have unimaginable wealth throughout multiple generations?
That's a strong rule for people who don't understand that parenting is the most important part of wealth building. But there are dynasties spanning centuries which understood parenting is just as important as what you accomplish in your lifetime. Meaning true success can come from hard work you put in, but do not see the benefits for several decades or maybe even not at all. Now we should debate who is more successfull, the hard working entrepreneur who achieves success after 5 years or the patriarch who achieves success after 50 years. We are ruled today by the latter, but the short termers get the newspaper headlines. In the end, the civilizational infrastructure always wins. Meaning there is always a bank you need a loan from, and they have been watching your family for quite some time.
I was one of those corporate people but I never went out and spunked money on new top end cars, first class flights for top end holidays and ridiculous supermexpensive “look at me” posy restaurants, I also inherited about a third of my my current wealth when my parents left this world. Result, I retired at 55 and live very comfortably and set my own agenda with an investment portfolio of just over $10mil. I still travel with the ordinary folk turning right on the passenger jet but stay in nice hotels, eat in nice restaurants and live in a beautiful house. I spend no more than half of my net passive income and the rest gets reinvested to grow my capital. The trade in life is money for time…. Save the money and you get more time. If I had $100mil I still wouldn’t buy a jet. Good video.
@@jejuislandtrekker8113 Uh, your payments can be zero under income based repayment. You make 120 "payments" of zero and they're forgiven. Your story doesn't make sense, or you're unaware of the forgiveness programs for teachers.
I retired at 55 being self employed all my life my main issues were not only the handouts but frivolous lawsuit, like my buddy used to say if they see you have money they want some of it… and that’s the sign my friend that you are successful in life Thanks for all the good info
The wealthiest guy I know lives in a median priced home for the area, drives a 2019 non-luxury car and dresses like a broke college guy.
The worst is that they don't just want some of it, but they are happy if they can cause you too lose some (or all) of it. Nowadays this new-communistic movement (as I call it) is in a self-amplifying rage against anyone who has $2 more than they do. They also sort of resemble a 3rd or 4th generation that Ken was talking about in the video. Although not of a wealthy family, but of a family that was having a good, comfortable life, compared to the earlier generations.
I like Ken because he is down to earth because he started from humble beginnings.
I haven’t even seen the video yet , but I’m STOKED to see Ken flex, because he never does!!
I believe that is why he is making this video...for his 3rd generation!
The problem we have is because Most people always taught that " you only need a good job to become rich. These billionaires are operating on a whole other playbook that many don't even know exists.
Trading is easy, but trading the right coin without a time-tested strategy is incredibly hard.
How can someone know a professional broker when legit once are hard to find this days
@More Achiever
I just contacted her right now we both are having conversation
It's not that there's a playlist it's that their create it
*YT Quick Survey:* For your shared investing ideas, what do you think will be the next Apple/Microsoft in terms of growth?
None bro! considering the present unpredictable market volatility. 🚩🚩
Not true at all... Although the market isn't so stable at the moment, it isn't as sick as some people have made it look... Believe me or not, as a beginner who knows next to nothing, I have made over $14k net profit just in a couple of months... I'm a retiree, and I am using these extra resources to help pay for odds and ends that I want.
Hi Mr.Micheal Weebles, from my little experience your profit margin is quite stunning for a beginner. Do you make use of spreadsheets; Can you share? Thanks if you reply. 🙏
No, I have never drawn up a spreadsheet... It's of no relevance to me.. I do practically everything through my advisor, Kelly Marie Matwick. In all honesty, she knows what she's doing.
Tesla and pepsi
Thank you for staying humble. You are not only rich on the outside you are also inside rich. Now that’s quality! 😊
Not rich on the inside if you don’t have Jesus.
Never thought I’d see the day Ken showing off his wealth being a humble man he is
It is necessary once in a while. It motivates us to reach his level.
u need to flip ur mindset lol
I wouldn’t consider this showing off he’s just showing what it’s like to live his life not trying to flex
Very true to never get into debt and never touch your financial base. I have retired and am happy to say I never once sold off shares to pay for my costs. And the portfolio just grows and grows.
Been following Ken for a couple years and he is a prime example of someone who does not let wealth get to their head. He understands wealth is about freedom and using it to live your purpose. I think just important knowing what to do with the money once you have it as it is gaining it.
I don't have the desire to own fancy cars, big homes etc..I lived a wonderful life and all I need is a fully paid house, passive income of $4k a month is plenty to me.
Really? You know what I have wondered Marcielle? What if God does actually grant people what they want but the forces of this world convince them to ask for petty things when there is so much more they could ask for. I ask God everyday to win big in the lottery, become a multi trillionaire, and to become God enthroned on earth. Idk. Sounds like a lofty wish list but I'm not about to spend all my life on earth just to die then get to the otherside realizing I could've done/had more .....if I just asked
@1stPersonStateConsciousness 😂😂😂 WTF 😂😂😂 By the way there is no other side, at the end that's IT 😂😂 poor forever buddy, praying for wealth WILL get you NOTHING. 😂
@@1stPersonStateConsciousness , You seek God with all your heart and His righteousness and all these things shall be added unto u. My most important wish is God drawing me near to Him. I have everything I wish and some I thought was impossible but God granted my hearts desire. I wanted to see Air Force 1 and also to fly in the king of Saudi Arabia private plane, both wishes happen on the same day. I wanted to see the world and thought I could only be able to see when I die but God brought me all over the world. I wanted to be a millionaire by 40years old and also to give down payment for homes for all my sibling who doesn't have one but God fulfilled my desire. I wanted to give a business to my dad who is not very educated but God put me at the right place and time that I got a courier contract for him to run. There is so many others that I can't listed them all. Faithful in little God will give you much.
Everyone says that till you get the 4k. Also ignorance is bliss once you find out about all the cool things you can buy and the expierences you can have you'll need way more. Like Ken says his fun weekends are 50k
@@billycho566 , I have 6months vacation in different places around the world, what more does anybody want.
Thank you! It’s great to hear advice from someone at that level. Humility is priceless.
Hands down the most useful video I’ve ever seen on YT. Thanks for being so open and sharing when you totally don’t have to!! 🙏🏼🙏🏼
Ken is the man! Super knowledgeable person, humble, and confident. Glad he can reflect on his hard work and help others do the same. Thanks Ken!
Ken, this is Gold. Thank you and thank you for all the time you put into this channel. Also, it was awesome seeing you speak last weekend.
Sage advice as usual!! Thank you. Be well and enjoy your time Kenny!!!
Great info! My children are readers of Rich Dad , poor Dad and have been passing info like yours his to them. Some of them understand and on their way to success. As long as they keep learning and stay humble I will be happy for them.
Thank you, Sir! What an amazing message. In my opinion, maybe your best video ever. Keep up the great work!
Thank you, Ken ! Always appreciate your wisdom !
My wife and I very much appreciate your posts and all of your advice! They help keep us focused and motivated to become financially liberated. Thank you Ken
Always appreciate the content Ken!
I love Ken for the in depth perfection on weekly vids. I think these more personal ones are even better though
Ken, you are an inspiration for so many people and are living an amazing life. It takes years to get to the level. Thank you for sharing your wisdom and lessons to help others on their journey.
Ken has been one of my (virtual) mentors since 2020. He’s real with the advice and has been a great contributor to my journey.
What do you do ?
One of the finest expressions of wealth wisdom I've ever heard, and I've seen many others, and they are truly great and filled with wisdom, too. But this one by Ken is so rich in common day language, and should be seen -- and re-seen, and re-seen again and again -- by every teenager and young adult. A big Thank You, Ken, for all that you do to bring the value of hard word and the joys of achievement and success to so many. The greatness of America is that it provides the soil (freedoms and legal protections) for people like Ken to reap the reward of hard work. In too many countries, -- nearly all others, imho -- private achievements are quashed or stolen by government or the existing oligarchs who choose their government puppets.
This video really spoke to me. Thank you for sharing.
I'm loving the Vlog style intro video. Always enjoy watching your channel and I've been learning from you since 2013. Thank you for the education you put out.
Thank you for defining what to do, reconfirms what I’m doing, cheers!
Thanks for being so candid. This was a good video.
Amazing insights. I’ve read a lot of books , listened to a lot of podcasts and youtube videos but the a good amount of the insights you shared are new to me. Thanks for sharing!
This video was much needed for me! Thanks for keeping me motivated!
I’m going to the UFC fight in June too. I thought me spending $1000 on tickets was a lot 😂
yep, I like smaller scale and stress free environment but to have that peace of mind ~
Wow, I really really like this video. He gives so much knowledge in such a short video and it doesn’t feel like he wants anything from me. He just giving the knowledge freely.
Ken, I have so much respect for you! And thank you so much for your opinion on generational wealth! I was so curious why you made this video title. Seemed out of character 😅🙏💚 grateful for all your advice!!
Proof, perhaps.
thank-you for the Truth and transparency.
Great video.. Thank you for your time & your stories! Much appreciated & valued ✌🏻🤔👍🏻
This story is the summary of all walks of life of being wealthy..I love you Ken.. thanks for the advice..
Best money advice for me. Thank you. God bless you.
Thank you for the valuable advice, Ken. ❤️
This is so spot on. Thanks for sharing 🙏
Would you make a video on relationships please? How do you navigate through jealousy, greed, and scams?
Thank you . Great great advice. 👍🏻👍🏻
Maestro ken, gusto en saludarle.. espero que se encuentre muy bien! Siempre agradecido por toda la sabiduría que siempre comparte
Love your content. What an inspiration 😊
Awesome insight. Thank you
Ken is right on in his advice. Yes there are a few social media influencers out there that show you crazy lifestyles but you need to realize it’s very few. It took me 40 years of owning my own business and working 100 hours a week with sometimes no vacations for years. Here is my sage advice “ there are no shortcuts!”
Excellent advice! Thank you! From Canada
Awesome! Thanks, Ken!
Great speak , excellent advice ❤
I know you’re conservative guy, for you to show this, I love it much respect, and I always appreciate the knowledge you put out for everyone to improve their lives
Lets goo!! An example that if you work very hard and smart you can achieve anything in this country. Sitting on a beach does get boring...
Very helpful Thank you for sharing
Great lessons in this video. Thank you Ken!
Great video/content Ken and I appreciate the advice and knowledge you shared with us thank you brother.
Amazing video, Kenny!!!! I really enjoyed it and found it educational.🎉
This is the first video I’ve watched from you and I’m subscribing ! Hell of a video! Do you do mentorship ?
Terrific video! I loved it. Thanks for the wisdom
Thank you for sharing. Right now, all the businesses that have started didn't work out. I'm not going to give up.
Time, Money, Health, and Social Capital (strong spousal relationship in my case) are the four asset classes. My mentor said it is very common to be wealthy in one or two of these categories, but not all four. Before I became a FIRE retiree in 2020 at age 45, I made sure I was abundant in all four areas. FYI INTJ / INTP personality types are the majority of folks who make up the FIRE community.
Thank you.
Great wisdom and advice, Ken. 👍
Thank you, Ken, for clarification of my vision
Great guy & very well spoken.
Awesome Video Ken as always.....
I like this video, will watch more, thank you for the perspective
I remember when I made my first billion. What a feeling that was! It really meant I was beholden to no one else on the planet. Incredible feeling. Then I woke up.
Yes sir!!!! Love this video!
Thanks Ken for this video and keeping us motivated. As an immigrant and 1st generation wealth builder, I believe in staying humble as one's wealth's increases and pass on the life lessons and experiences to my kids. I am still a work in progress and I know I will achieve my financial goal in the coming years.
Base $ = Principal $ either Inherited and Invested or Earned through RealEstate, Stocks, Bonds,precious metal Appreciation and the Capital gains after selling those assets. (That’s $ that Must be reinvested to earn the secondary $.) The $ that’s secondary is the $ that can be used for expenses and living. Excellent Topic Ken, Thanks.
Great advice, Ken
It’s so true, I didn’t went to that level, but I’m happy to be more than financially free, and to achieve this you need to be passionate about the money game. Everyone who look at us, and want to do the same, many of them are not prepared to do what’s required to achieve that goal. I have tried to guide so many…not a lot can do it…
Kenny, is a peoples man. He represents all of us. I have met him in person and he truly is a genuine good guy with impeccable work ethics.
Great video! I enjoyed hearing this perspective and very motivating!
Thank You!
Such a great video - first time I’ve seen you, great words 👍
Thanks for sharing. I love the analogy of the treadmill. The irony is very few people, even wealthy people, realize that we are all on a treadmill where your desires end up controlling you. It seems contradictory, but it's only by needing less that we can achieve true freedom.
Facts… wanting allot of things is not freedom at all
I have wealth and one 34 year old Son. I’ve offered him whatever he needs to pay for his minor debt. He lovingly says, No Thank You, Mom ❤️❤️❤️ I raised him as a single mom to use a debit card for purchases until he built his own credit that is well managed. He stands to be the sole heir to more than he even realizes. That being said, I divide my assets as needed for his own generational wealth. He does not plan to marry or have children so he will need to decide how to continue creating additional wealth and/or donation to a foundation I’m creating.
Ken, I have been following you since you first got together with Robert Kiyosaki. I am free now thanks to you and Robert!! Can you do some videos on how you plan for your next 3-5 generations to retain and build on what you have accomplished? I just recently read “Die with zero” and that book may have flipped my paradigm… Thanks 🙏
Thank you Ken. For you advise I truly true what you say
Great advice from Ken man really down to earth
ABSOLUTELY AMAZINGLY GREAT ADVICE 👍
Thank you, Ken.
So many facts were said in this video 💯
Amazing advice!!! Ive flown in over 10 private jets..different sizes.. and spent 30 to 40k a month a gucci, LV and other clothes store a month..it was all a waste.. but i did that because i never really had money and i went crazy trying to show people how now i had it.. but when the company dropped from making 3 million a month to 1 million.. my lifestyle i got use to had to change...but then i realized that one alot of the friends that were around before was because of the trips on thr mega yachts ... now im trying to get back.. but no lo ger care about the designer clothes or burning 50 to 60k tonfly to Miami and throw another 50k at strippers.. smh.. was a crazy time.. but just as fast as it came its gone and no one cares..just another person out there doing it. Anyway.. i love this video.. such amazing advice! True knowledge right there
Thank you so much
Great video! I have always had a hard time understanding business and money, seems to be a combination of its too simple for me to believe and that the 'game' as a whole is opaque, convoluted from top to bottom. Videos like these are tremendously informative to me thank you!
Great video! Great explanation about the different generations!
This is gold advice, great stuff
MC from my perspective of Wealth, passive in come is one strategy, BUT in my thesis, I prefer diversify my risk. Greetings a from COLOMBIA 🇨🇴
I love it Ken.
Solid advice that’s inline with what I’ve gleaned from successful individuals over the years. I am aware I will never reach jet ownership level, but if I raise my children how I was raised they will.
This was great and to the point and not grandiose and exaggerated and just a perfect price point and lay out for exactly what it takes and all his points is exactly true and what I do as well
Very nice video Title. This really got my attention. It's the first time I'm watching your video !