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How You can Increase Your Net Worth/ Wealth? - YouTube
Channel: Axe and Yung
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what are the two simple ways to improve
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your net worth
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let's start with the top five highest
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net worth people
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in 2020 first jeff
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bezos the founder and ceo of amazon
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has a net worth of 184.3
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billion dollars second
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bill gates the founder of the software
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giant
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microsoft has a net worth of 115.3
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billion dollars
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third bernard arnold the france
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luxury goods tycoon the ceo
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of lvmh has a net worth of 115.1 billion
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dollars
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4. mark zuckerberg the co-founder
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ceo and chairman of facebook
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has a net worth of 95.6 billion dollars
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fifth elon musk the founder
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and ceo of spayx and tesla
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has a net worth of 87.3 billion dollars
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all of them derive their source of
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wealth from the company they
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own and running on a personal level
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not everyone can be the next deaf bezels
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tomorrow
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but there must be something that
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everyone can do
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to improve their wealth and net worth
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what is make up of a person net worth it
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is the value
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of net assets that a person owns
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to calculate take the value of all
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assets
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minus the liability that they owe
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once we understand these two components
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the two simple methodologies to improve
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one's net worth
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is either by increasing assets
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or decreasing liabilities the first way
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to increase the assets create or acquire
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appreciating assets
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example of assets are cash stocks
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land property and business
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on a personal level most people may have
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a car
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watches gold and antiques this can be
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appreciating or depreciating in value
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over a certain time period if you buy a
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car at 10
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000 dollars and the second hand value is
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15 000
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then this is an appreciating asset a
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real world example
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is the rolex submariner if you can buy
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it at
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cost price of eight thousand dollars and
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the resale price
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range from twelve thousand dollars this
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is an
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appreciating asset that's why people are
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still queuing to buy
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and hold onto for years to come
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net worth is a snapshot of the net
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assets
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at a point of time it is constantly
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changing every day every hour every
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minute
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depending on the market price of your
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assets
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this is why that bezel's net worth can
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easily
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go up by 4 billion dollars when the
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amazon stock price
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rise by 2 because stocks
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is part of his assets the second way
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to decrease the liability a person can
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easily have a million dollars
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properties but at the same time if he is
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having a million dollars bank loan his
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net worth
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is still unchanged or even lower
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due to the interest to be paid however
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if the person is paying off the loan his
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net worth
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will increase accordingly examples of
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liabilities
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are credit card outstanding balance
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personal loan
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student loan car loan property loan
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and any amount that you owe to your
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doctors in comparison to these
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two methodologies most people become
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rich
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by acquiring more assets instead of
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paying off
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all their debts acquiring assets
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is easier and faster more importantly
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you can take advantage of leverage
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for example if you are a businessman
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buying plan and equipment to improve the
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business profit
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with leverage on business loan if you
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are salary man
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buy multiple appreciating properties
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with leverage on bank loan
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if we are using only the first
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methodology to increase
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cash savings on our hand this may take
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years and remember cash is a
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depreciating assets due to inflation
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everyone can creative and strategy to
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play around these two
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components assets and liabilities be
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curious
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keen on learning and improving start
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small and eventually
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it will become achievable see you in the
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