You're about to become very rich. Well, that's if you're, one of the millions of people taking part in the next great wealth transfer and i've got news for you. It started, but even if you do benefit from this insane opportunity, if you don't know one very important thing, then it could all just disappear. Hi guys it's mark.

So let's make money interesting so that you can grow your wealth. The great wealth transfer is and there's no other way of putting it the opportunity of a lifetime. Now i'm quite aware that if you watch my channel, then there's a high chance, you want to become rich and, to be honest, it looks like you're. In luck, many people are about to participate in a 70 trillion dollar opportunity just to put 70 trillion dollars into perspective.

That would pay not one not two, but 18 million teachers wages for 70 years. This is actually being referred to as the greatest wealth transfer in history and it's already started. When i heard about this crazy amount of money changing hands, my first thought was where's it all coming from dad we're not robbing a dunk. Oh, what did i buy this for then? No for real guys.

The answer was actually staring back at me in the mirror boomers. Just like me. Well, technically, i'm a gen x, but everyone likes to call me a boomer. So let's go with that.

We've been around a lot longer than millennials, gen, z and especially zoomers, and have accumulated a lot of wealth in the process with age typically comes experience, knowledge and good looks well at least two of those were true. You could decide which, on average, they don't seem to respect it's a lot harder to gain wealth nowadays and have old-fashioned advice. That no longer applies. I mean crypto has changed the game and most boomers still think it's a scam.

It also doesn't help the baby boomers. Also own most of the businesses real estate and stocks, i made a video in the past about millennials and zoomers being financially destroyed. The harsh truth is millennials, aren't having as many children they aren't buying as many homes and overall they're, just not progressing like previous generations. Did due to a lack of financial stability, however, that is coming to an end, as it's predicted that over the next 20 years, ending in 2042, 45 million households will transfer 70 trillion dollars to their heirs.

Because if there's one thing money can't buy it's the ability to live forever, don't get any ideas. Curtis, i'm not going anytime. Soon simply put people with rich families are about to get very rich themselves through inheriting cash stocks, real estate, gold and even maybe crypto. Well, that's if you've got parents or grandparents cool enough to buy crypto you're, suggesting you're, a cool dad or something i'm not just suggesting it.

I know it. I've been told by these guys with all that said, it makes perfect sense that, as boomers start to pass away, their children and grandchildren are going to start inheriting mass amounts of wealth, making millennials the wealthiest generation ever. However, if you're thinking but mark, i don't have a trust fund. So why should i care? Well, that's actually a really great question.

The good news is that, even if you aren't set to receive a big inheritance, you can still massively benefit whenever there is a huge exchange in money. There are big opportunities for investors and entrepreneurs. Most millennials don't know how to manage their money like the one percent, which means they're likely to spend more, and therefore all you have to do is position yourself in the right place to reap the rewards. Did you know 3 out of 5 professional footballers and 60 of former nba players declare bankruptcy shortly after retiring honestly? This is so shocking as they earned enough during their career to never work again, and if it was invested correctly, they would still earn more than a hundred thousand dollars per year without ever running out.

This just goes to show it doesn't matter how much money is given to you. If you don't know how to manage it correctly, you'll end up with nothing a staggering 70 percent of families who inherited their wealth, lose it by the second generation and 90 of families lose it by the third generation. I think the best term to describe this is easy. Come easy go once it reaches the third generation.

The people in control of the money become completely disconnected with how hard that money was to earn. I always told my son curtis that money wasn't easy to make and it's something that must be valued and used wisely. This did make me seem like a pretty harsh dad, as when his friends got the latest phones and game consoles. I would always tell him that he had to save up his own money, which he made by picking up, leaves in the garden and other odd jobs around the house when he started his first business.

I also made it clear that he could have all the advice in the world, but no money to help him. This is because, when it comes to making money, the first 100k is the hardest, and the lessons you learn along the way are very valuable. He now has a net worth of over 500 000 at the age of 23 and, as he made it himself, i'm pretty confident he'll know how to manage it correctly. Just to back up this point, a study recently found that around 68 of those with a net worth of 30 million dollars or more made it themselves, and a second study by fidelity investments, found that 88 of all millionaires are self-made.

This just proves, if you inherit riches, or you have no financial backing at all and want to become rich there's a simple formula that the top 1 follow in order to gain and maintain wealth. I've followed this for my entire business journey. I've made millions of dollars in the process. Now i've mentioned this stat before, but it's so shocking that i'm going to use it again, a surprising 40 percent of americans making over a hundred thousand dollars a year, a living paycheck to paycheck.

This proves that high income is not the answer to building wealth. I've always been a firm believer that it's not how much money you make is how much money you save and invest. Of course, the more you make the more you're able to maximize your investments, but wealth building is mostly down to strategy and psychology. So, let's dive into how you can manage your money, like the richest people in the world do and hopefully by implementing this strategy, you can make yourself a millionaire in the process with the right investment strategy.

You'll be able to gain your financial freedom and will be able to make a consistent amount of money every year without having to work ever again. If you don't want to remember, i'm not a financial advisor and i'm just sharing the strategies that have made me a lot of money over the years. Please do your own research before making any financial decisions step. One is to have an emergency fund.

I know this. Might sound silly to some, but surprisingly, a huge amount of people would find it hard to cover an unexpected expense. If you start investing your money without an emergency fund, then it can force you to sell your investments at a loss. If something unforeseen happens, the perfect emergency fund is three to six months of your living expenses.

This could be helpful if you lost your job. All became unwell. Step two is to pay off your high interest debt. Sure you could skip this and dive straight into investing, but why take the risk when you can get a guaranteed return on investment by limiting the money? That's leaving your bank account every month.

If you have a high interest debt for something that is not making you money, such as the car, then it's best to get it paid off as soon as possible. Step three is to open a tax advantaged account. This may sound boring, but stay with me. It allows you to pay less of your hard earned money to the government in tax.

I mean why give it away if you don't have to if you live in the uk, you can open a stocks and shares isa, and if you live in the usa, you can open up a roth ira. These are tax advantaged. Investing accounts that allow you to build your wealth long term with all gains completely tax-free. Most countries have these types of accounts, which may work in a different way, so you'll have to do a bit of research to find out what is available to you.

I hope you're taking note island buys or you're going broke. I don't need financial advice when i probably make more money. Now, let's go through some numbers in the uk. You can deposit 20 000 to your iso each year and withdraw whenever you like completely tax-free in the usa.

The roth ira works a little bit differently. You can only deposit six thousand dollars per year and can't withdraw tax free until you're 59 and a half i mean. Why is it 59 and a half? I haven't measured my age like that, since i was nine and a half step, four is to invest in the stock market. I always hear people saying i've invested in my roth ra and when i ask them what they've invested in, they just say a roth ira.

So, let's clear this up once and for all, these are just types of accounts. Think of them like this basket, it's up to you to fill that basket with whatever investments you like. This could be amazon. Google tesla.

The choice is yours: if you only have around a thousand dollars and investing in individual stocks could be for you, it's a great opportunity to learn how to read financial statements and hopefully have some fun. A great way to start is to grab your free stock from the public app worth all the way up to a thousand dollars. If you're in the usa i'll leave that link in the description. If you can afford to invest a little bit each month, then you should look into building a three fund portfolio.

This consists of a us index fund, a total stock market index fund and a bond fund bonds are a much lower risk but offer far less rewards. So the younger, you are the less bonds you should technically hold. If you choose this strategy, then you will own a small part of the entire stock market index. Funds, like the s p, 500, typically return investors an average of 10 percent a year.

There are tons of compound interest calculators online that you can use to work out your retirement or freedom figure based on what you can afford to invest, step five is to buy cryptocurrency. Unfortunately, there isn't currently a way to invest in crypto without paying tax, but the potential gains can far outweigh that. I mean, if you can make millions in under a year, then a tax bill isn't really the end of the world. I usually stick to blue chip.

Crypto coins like bitcoin and ethereum. However, i know a lot of people see this as boring. If you do decide to try your hand at investing in alternative coins, then i believe putting a small amount in lots of coins could be your best bet as 9. Out of 10 may flop, however, the one that goes all the way to the moon has the potential to make a very large amount of money from a very small investment.

However, the risk is far greater and i'm not looking to chase short-term profits instead, i'm all about building long-term wealth by the way coinbase are currently giving away ten dollars worth of free bitcoin. So if you're interested in that i'll leave that below too step six is to venture into real estate, it really is true that they aren't making any more land well until elon must start selling plots of land on mars. Real estate can be a great investment, as it gives you the ability to get cash flow through charging rent and also experience capital gains, as the property increases in value property is much harder to get into, and that's why i think it's more important to invest. In other assets, first, in order to build up the required cash, i'm going to leave the next video right up there, but don't click on it just yet make sure to subscribe.

If you want to grow your wealth, okay, i'll see you over there.