Teaching Kids About Money- Grant Cardone
I'm, going to teach you a little lesson about money. Okay, okay, money will not make you happy young lady yeah that it can buy a jet. In fact, that's. The lesson I want to teach you, okay money, will not make you happy.
Okay, it can buy advertising to build the Cardo name card own capital name. It can buy date night by the way we're, going on a date night tonight, right yeah. We are we're, going on yeah date, night. Okay, it could buy a watch, it could buy.
Oh it can't, buy happiness. Let's. Keep this one out here. We know that you know that repeat after me. No, she says she says the people that say money can't buy happiness, huh can & # 39. T stop your problems, but money can actually buy a vacation.
Okay, it can buy food, it can buy goodbye Cheetos. It can buy a good place to live like Castille Creek, but look money can't buy anything else now. If I could take the kick about purse for Mama for her birthday right now, let me show you another little, that's.
One thing money can't buy happiness. You agree with that. Okay, good! Now this money right here, yeah there's. Ten, okay, oh by the way, came back kids clothes. It could buy a car. You'll need one of those it combined education.
It could buy a ticket seat to the Super Bowl, whoever have one against and it could buy. It could buy jet eight nine ten okay, here's. Three thousand I'm gonna keep the rest of it for myself. Okay, now I'm gonna keep this.
I want to teach you a little lesson. It's called depreciation. The lesson of depreciation, okay depreciation means well, let's. Just look it up a reduction in the value of an asset through the passage of time do in particular, to wear and tear okay.
Now this is an asset. This this planes an asset. Okay. This this this right here is keeping you warm. It's, an asset okay. Now this by the way, this will keep you warm this one. No, I mean what it wouldn't, be that it wouldn't, be that comfortable.
What that see? It's not going to now. Now this is paper okay and when the government, the government, basically the Federal Reserve, prints this paper. Okay, they make it you don't have to make money; they make the money you your job is to collect it.
Okay, now there's, a couple ways to earn money one. I could trade time for it and go work for somebody check in at nine o'clock in the morning till five o'clock in the afternoon. They're gonna pay me for my time or I can take money or talent or do a deal a handshake.
I can do a deal and I can get somebody to pay me for some, some property or some royalty, or some asset that that maybe I'll. Okay, this right here when they start printing money exactly they had to make an entire another paper kind of the currency.
Yes, would you read that yeah see see? So if this is all the money printed on the planet, it has a value that value is determined by what you and I think that is worth yeah. But let's say you needed food, let's say you were starving.
Would you want this or the Cheetos exactly so? Money is based on the value you and I put on it now if the government goat, if this is all the money in the universe and the government goes out and prints billions of dollars more, this okay, this becomes less valuable.
So, even though time did not pass okay when we print more, this should drop the value of this. That is why, okay, that is, why hold on I & # 39. Ll. Show you something: oh no go sit down. You sit down.
I'll. Bring it to you, okay, that is why Papa takes this pieces of paper that were manufactured - and I take this and I trade it for that. So the seller takes the money because they needed to make money, or so they think - and they give me this piece of property when that goes down in value.
This will naturally, the real estate will naturally go up and value so that's. Why? I tell you: don't lose my property. If something happens to Papa okay, do not lose it. Take care of the property number two take care of the tenants.
Three take care of the investors and four always take care of our lender. Okay, because these will take care of you, they'll, take care of your kids. They'll, take care of the church. They'll, take care of the kids kids.
They'll, take care of the investors. Kids, they'll, take care of everything. Okay, this, it can be lost, it can be burnt, it can be spent, it can be stolen, can't steal that, okay, all right did you learn something: [ Music, ], [, Music ].