7 Things Rich People Buy That The Poor Don’t


What are the seven things that rich people buy that
poor and middle class don’t? You see one of the things that differentiates the rich from the poor is not just because of money, it’s because they have assets. Rich people, they buy and they
own and they acquire assets. Middle class, they buy liabilities
thinking they’re assets and poor people, they only have expenses. Today I’m gonna share with
you seven types of assets that rich people buy, acquire and own. And I’m not gonna define assets as in traditional accounting terms. When you talked in accounting and they were explained to you what types of asset classes there are, I’m gonna define it the
way that rich people, the way that we see assets and are very, very different
how most people see it. By the way, if you have not ordered a copy of my new book, Unlock It, make sure and click
the link somewhere here and order a new book where
I go much more in depth, how do you unlock your
financial confidence and how do you acquire wealth. Number one, the first type of
asset that rich people have that the poor don’t is business. See most rich people, almost all of them, either they make their money through their companies and business or they have an invested interest in multiple companies
or multiple businesses. So once you think about
it versus poor people, all they have is a job. They have a paycheck at
the end of the month. You’ll never get rich through a paycheck. You’ll only get rich through a business or multiple businesses. Why? Because it’s the only way
you can apply leverage. You can leverage other people’s time, money, resources and
talents to build something, to make your vision a reality. That your earning ability is not tied to how many
hours that you work. You are able to leverage
one to 10 and one to 100, one to 500 to build a bigger business, to be able to impact more people and deliver more value to a marketplace in exchange of money. That’s what a business does. So, that’s the first
asset class: business. Number two, the second type of asset that rich people buy that the poor don’t is arts and antiques. Now this is an asset class
that I know very little about. I cannot tell the difference
between a $100 painting versus $100,000 painting. I have no clue. This is an area that I
am like a complete idiot. My art collection would be my Hulk toys and Iron Man collection. Although my wife Jennie would argue that is not an asset class. Well, to me it is an asset class. Number three, the third asset type that the rich buy that the
poor don’t, it’s automobiles. Now a lot of people they buy automobiles just for transportation. But the rich sometimes
they buy for collection because they get pleasure
driving them, owning them or fixing them, repairing
them, selling them. Done properly, this could be a very lucrative thing that you do, but most the time, my friends I notice that they just, because they
have a passion for automobiles or classic automobiles,
they do it just for fun. But because they collect them, they buy rare automobiles and when they sell them they
do make a nice profit from it. It does turn it into an asset class. But for me, I just do it for fun. Number four, real estate. This is the most popular asset class among the rich. Most rich people they
either make their money through real estate or they
park or hold their money in real estate. Now when it comes to real estate there are so many different
types of real estate. You have residential
or you have commercial. Residential, I’m talking about
condo or single family home. Commercial real estate,
I’m talking about malls, hotels, right, offices, multi-family. Two very different types of real estate. And within real estate you
have so many different types of strategies. Do you buy and hold? Do you buy and flip? Do you develop, right? Do you do Airbnb? Depends on what it is that you wanna do and how much capital you
have and where you wanna go. Now why do so many rich people have real estate or they park
their money in real estate? It’s because the banks,
the lending institutions, they love real estate. They will loan you money
to buy real estate, right? They like the security of real estate. They feel like that’s a hot asset, it’s an intangible asset that
they like to lend money on. And that’s why a lot of rich people, we either make their money in real estate or we hold our money in real estate. Number five, the fifth asset class that rich people buy that the
poor don’t is paper assets. I’m talking about bonds,
mutual funds and stocks. Now when it comes to assets, sometimes we buy assets
because it produces cash flow or dividends. In some cases we buy
assets and we hopefully, it will increase in value over time. That’s called appreciation. So when it comes to stocks, except it’s like dividend stocks, but stocks, mutual funds and bonds, we are buying it at a certain price and hopefully it’ll go
up later in the future. We are betting, we are
buying on the appreciation. You see with paper assets you can turn that into
money very, very easily. Let’s say compare that to
a piece of real estate. In order convert a piece
of real estate into money, well maybe you need to list the property, you need to sell, it takes time or even if you wanna get
a loan, get a mortgage, a second mortgage from
the bank, it takes time. But with stocks, with mutual funds, you can sell that and turn that into money very, very easily. Number six, the sixth asset class that rich people buy that the poor don’t is intellectual properties. I’m talking about patents,
trademarks, brands, copyright. Any other intellectual
properties that you might have. See, this is an asset class that I love. I own a lot of intellectual properties. The reason I like intellectual properties it’s because the ability, you can scale, you can license your
intellectual properties to somebody else, but
also the maintenance fee, it’s very, very little compared
to other asset classes. I can also duplicate
and replicate what I do to be able to serve way more people. So intellectual properties, Disney has a lot of
intellectual properties, Coca-Cola as a brand, the brand itself, that’s
an intellectual property. The brand itself is actually worth more than the actual hard
assets that Coca-Cola owns. The brand Coca-Cola is worth billions and billions of dollars. Number seven, the last
thing that rich people buy that the poor don’t is precious metals. I’m talking about gold, silver, platinum. This is a gift from my
mentees from Australia. 24k gold, gold. Now, gold is very, very important. You notice when the
currency of our dollars, it depends on what countries
you’re coming from, rich people, they like to
have their money in gold because throughout history you notice that gold, it’s the currency, it is the asset class
that is recession proof. So it’s a very, very important asset class that in your portfolio
you have to think about. So precious metals. Those are the seven things
that rich people buy that the poor don’t. I want to give you a bonus. And this is a new asset class. What am I talking about? Asset number eight and that is audience. That’s right, audience. You see attention is the new currency. To be able to have an audience, you see this through social media, influencers who have audience, that they’re able to captivate
other people’s attention, their audience’s attention,
it is worth money. That’s how they’re able to
generate income and profit and money from what they do. Attention is the new currency because without attention you would not be able to get customers. And without customers,
you won’t have any sales. No sales, no money, no profit. It’s that simple. A lotta people, they
neglect this asset class. And I believe this is an asset class that a lot of people, even rich people, ignore and overlook. This is an asset class that
you can scale and expand very, very quickly to have 10,000 people, 20,000 people, 50,000
people, 10,000 people paying attention to your
message, your cause, what you are focusing on,
what you wanna promote. Even if you wanna promote charity, your foundation, you need attention. You need audience. Money alone doesn’t
just get your attention. Attention is attention. Money alone is not enough. But to be able to get attention you can convert that into money. You convert that into profit. And it’s this asset class
that could grow and grow and grow and there’s no limit. There’s absolutely no limit. By the way, if you wanna learn more about how I do that, get a
copy of my book, Unlock It, published by Forbes Books. Where I go much more in depth. I talk about this
currency, this new currency that even successful CEOs
don’t know much about. So go ahead, click link here and get a copy of my book.

100 comments on “7 Things Rich People Buy That The Poor Don’t”

  1. Eduardo Albuquerque says:

    @Dan Lok, how awesome you collect Hot Toys. I'm a collector myself. Hey, is your book available in digital format?

  2. DMN DMN says:

    I would have thought real estate would be #2.

  3. Andreas Leon Landgren says:

    Great advice. No limits for asset class attention. Intellectual properts and gold Also very interesting.

  4. Eric Bland says:

    Haha this guy.. you can tell he inherited most of his money.. he REALLY want to be a self made entrepreneur. Haha

  5. Eric Bland says:

    Do not listen to this guy. The only thing he got right was precious businesses, metals, and attention.

  6. C J says:

    I love your tureno and 86, you got taste Dan ๐Ÿ‘Œ

  7. jerry tate says:

    Thatโ€™s why I cost to โ€œโ€ pay attention โ€œโ€๐Ÿค”

  8. James Crews says:

    #3 Only certain cars appreciate in value. Most cars "especially luxury cars depreciate in value. A Honda Accord holds its value better than a Bentley or Rolls Royce. People who buy Bentleys or Rolls Royces "except those who paint/wrap them in some obnoxious color scheme" buy them for the luxury and craftsmanship. Not because it's an "appreciating asset".

  9. BabyUcon says:

    He's so right about people only looking at you being rich but never thinking of the journey along the way. That journey can be a MF'er for some!!

  10. Sumair Khan says:

    time is money, peiod

  11. Rizki Ferdian says:

    Real rich people don't live in mainstream places even cities ๐Ÿ˜‰
    But in our own private lands and jungles out of your poor people sights. This Dan Lok is just another poor western world brainwashed asian.

  12. Hustlas Story says:

    Your wrong loc. You can get rich by a paycheck. 120k a yr and you tell me that person ain't rich? Yeah if he's dumb af he's not. But if he knows money management hes rich.

  13. David Draguta says:

    Ones I heard on tv 100 million person is a broke ass pretending to be Rich.

  14. ohsobo says:

    Instead of gold, crypto if you can understand it ๐Ÿ™‚ new gold.

  15. Steve Lena says:

    Learn to advise yourself do what makes you and only you happy only then you begin to understand that the true wealth of your actions is you

  16. Bharat Gambhir says:

    Only first one make sense

  17. Avempace017 says:

    Even Your book also kind of asset ๐Ÿ˜

  18. herbs flavored says:

    great accent โ™กโ™กโ™กโ™กโ™ก

  19. Hasan Poyraz says:

    Really Nice Video Sifu =) BTW didnt know you Love those Japanese Cars .

  20. ChiefBossam says:

    Why didn't you name you book "Unlok it"?

  21. Purpose Driveรฑ says:

    How can the poor or middle class buy cars and real estate? Lol.

  22. Aleksandar Sale says:

    @Danlock you are not rich

  23. Ken John says:

    Super bad advice. Cars? gold? Art?

  24. Amanda Nicole Maynor says:

    ๐Ÿ‘‚โค๏ธ๐Ÿ’ฏโ€ผ๏ธ

  25. KEPLER 186F says:

    Love you bro nice video excellent performance

  26. B says:

    You forgot to mention inheriting money from your parents

  27. Change is coming The truth says:

    the funny thing is his only a middle class and his talking how rich people build assets๐Ÿ˜‚ you aint rich old man you only 20million worth! i only listen when your fuckin billionaire like Mayweather

  28. Tom Harden says:

    That suitโ€™s a liability!

  29. Wheelie Blind says:

    I would suggest investing in gold and silver

  30. Geoffrey Sarita says:

    what would happen if people are starting to really work there ass just to get rich? would that really make your life better?

  31. Nobody Cares says:

    How are art and automobiles assets?

  32. John & Jane Smith says:

    โ€œIt is easier to fit a camel through the eye of a needle than for a rich man to enter the kingdom of Heaven.โ€

    I fucking love that quote.

  33. Rhyno Souris says:

    Own nothing
    Control everything

  34. Sexycountryboy says:

    Everytime I hear about rich people dying I do a rain dance,I hate all rich people

  35. Kermiki Pdang says:

    Everyone knows about that

  36. Reggie Cyde says:

    Asset no.9: Data.

  37. Ms. Eddie Spottedfeather says:

    I'm truly happy being poor.

  38. Donna Poole says:

    I love your sculptures of animals so cool I am potter from Maryland.
    I make jewelry for my business and potter .
    I also do YouTube video now.

  39. Calinescu Alexandru says:

    Good video.

  40. Ismail Masoomi says:

    Love and respect you Dan lok

  41. Eyeopener Nation first says:

    Car is laibility…how poor will get rich buying car? If you want to become rich buy business, real estate at low price, buy those two than go for stocks

  42. K1Mx HENG says:

    You have a Ferrari? That is awesome! Dude

  43. Will Kuiper says:

    Rich people collect interest poor people pay it

  44. Omeng Tawid - Smart Pinoy Investor says:

    Rich people earn to invest. Poort people earn to save.

  45. Dh. Maitrijit says:

    Thank you so much … ๐ŸŒผ๐ŸŒผ๐ŸŒผ

  46. Peter Smith says:

    Rich people also buy Cryptocurrencies.

  47. Nathan Pieterse says:

    It's always nice when hearing this motivation vids, but yet still there are so many suffering of being poor mostly.
    How does wealth benefit those that have it, when there are people dying of hunger who don't.
    Why don't we all say it's the application of life that makes us who we are not the application of wealth, everything always seems to be based on money?
    If i told you i was poor and you had a rich daughter that loved me would you allow her to marry me?
    Now in most cases that's what life has now become. If you can't even apply your mind to morals then how can you apply your mind to life.
    Money is worth nothing but big problems, if not used correctly.
    Choose life Choose Christ and "lok" your "dan" problems away forever Amen.

  48. Jivanlal Bais says:

    You are a really superb teacher in the world ๐Ÿ˜˜ love from india

  49. Kika Wilson says:

    That's so true Dan.

  50. Virginia Abraham says:

    thank you for. yo teachings,, still nid to learn mo

  51. Im Fort says:

    Paintings and Cars an asset? Asset puts money into your pocket, I think those things are bad expenses unless you can sell it on a higher price. Rental incomes are best assets a person could ever have.

  52. Mani Kanta v says:

    Awesome video ๐Ÿ‘๐Ÿ‘Œ

  53. Anoop K A says:

    This video is for habits that make rich people do and poor don't. The rich people always concentrate on investment for enhancing their income. Furthermore, they invest money on the different business. First and foremost, they will visualize the success and behaving like already accomplished. I like Dan Lok video.

  54. Badr El Mansouri says:

    Poor people and middle class buy luxuries first, rich people buy luxuries last

  55. Caspar Myrchiang says:

    I think watching this video will make me poor because its wasted my time…..

  56. Fred C Dobbs says:

    Scarface Capone at least wore a tie…

  57. OneFifty IQ says:

    That Don Mafia Tux XD. Looking like a snack.

  58. KEPLER 186F says:

    Moral of the story rich people increase their money from different sources through their lifetime but they never use it except their basic needs it's better to give some to poor unhappy unhealthy person and this will change your life ๐Ÿ˜๐Ÿ˜˜๐Ÿ˜˜๐Ÿ™

  59. ok man says:

    abis ngomong bagus ujung ujung nya jual buku.. dengan harga overprice.. dasar sales pinter banget ngomong nya, luu sendiri tau orang yang bakal bli buku luu gak akan bisa sukses semua.

  60. ok man says:

    lu orang kaya warisan kali, dari keluarga kaya, sekolah di sekolah terkenal, maka nya bisa ngomong begitu.
    coba tanya ke bapak engkong luu,, saat dia belum kaya, dan mau merintis nya, apa dia tau apa yang semua lu omongin ??

  61. Nathan Pieterse says:

    CLOWNS perform in the circus while the animals are in cages watching and "Loked" away.
    Show us video of a project where you helping poor people that suffering.

  62. Adnan Khan says:

    Poor people buy all these things; they just don't use it properly to generate income.

  63. t seven says:

    book wowwwwww
    isaias -ethiopia

  64. Saad Pasha says:

    Assets:
    1-Bussiness
    2-Art & Antiques
    3-Automobiles
    4-Real Estate
    5-Paper Assets:Bonds,Mutual Funds and Stocks
    6-Intellectual Properties:Patents, trademarks,brands, copyright
    7-Precious metals
    8-Audience

  65. Neddy M says:

    Ironic that he says rich people buy gold, then only shows a gift he owns from a possible rich person/fan.

  66. Rokas Reacts says:

    He cant say r like pwoblem

  67. Lena Deva says:

    1. Business
    2. Art and antiques
    3. Automobiles
    4. Real estate
    5. Paper assets
    6. Intellectual properties
    7. Precious metals
    8. Audience

  68. Al Vag says:

    Poor people don't buy things that Rich people buy because simply they don't have the money to do so.

  69. Linh Nguyen says:

    Thanks for your video. I must try and try everyday

  70. Johan Coetzee says:

    Vallue added asset class , all financially wealthy people invest their time , money into vallue added asset class

  71. zovarrichard zovarmitchell says:

    i got kicked off air b and b i'm mad because i'ma be screwed when i wanna rent my houses out..

  72. Nikhil Bisht says:

    How are art, antique and automobile an asset?

    Robert Kiyosaki says anything which takes away money from your pocket is a liability.

    If you are generating money from your cars and antiques then they are assets, otherwise they are liabilities.

  73. T.Vellapandian Tamilan says:

    I Subscribed & u earned me.

  74. Fabien Cazeau says:

    Cet effrayant tourbillon de vacuitรฉ et de ringardise…

  75. Syeda Halim says:

    Why does everyone care about the life your only gonna live for a 100 years. Has everyone become so materialistic and atheisic with money. I know one thing rich people can't buy but poor people can. It's contentness. Most people who are poor may live a tough life, but they sure do enjoy time with family and friends. Now back to the point about this short life. So when you die, will it matter how much money you made? No. So why need to become so rich, because if you believe in eternal afterlife, the rewards in heaven are much more than this being world.

  76. Tiatuba Ozukum says:

    4:30sec : Real estate isnโ€™t intangible. Real estate is a tangible asset.

  77. henry whyte says:

    How do i get Audience online

  78. thangu thangu says:

    Today my journey started to become a millionaire

  79. Jambalsuren Altan-Uul says:

    i wanna say it like "rich people buy but that the poor can not..'

  80. Game Fein says:

    Rich or poor u cant take it with u when ur dead. It dont matter what rich people look like. Or how poor people talk like. Ask Dan lok if he was dying from cancer 20 years from now at the age of 57. Would he be thinking about his money? Nope I bet a million he would say. I should have loved a bit harder. I should have been more free. I should have lived a bit more… bet money be the last thing on his mind on his death bed.

  81. Fluffy Cats says:

    I buy metal toy planes from WWI and WWII. I think they are going to cost much more in the future.

  82. mallesh yadav says:

    Awesome analyse

  83. Press says:

    Any business person knows the first rule๐Ÿ’ฏ

  84. Pherl TV says:

    Yes! Perfect vlog !

  85. Rohan Patil says:

    Excellent video…

  86. maheshraja raja says:

    I like your video

  87. Doris White says:

    Thank you, Mr. Lok. "Attention is the NEW Currency." I didn't have a clue about that.

  88. valli kraav says:

    This guy is brilliant mentor!

  89. Abhishek Maddu says:

    To summarize.
    Rich people invest in the following
    1. Business
    2. In arts.
    3. Automobiles.
    4. Real Estate.
    5. Paper assets.
    6. Intellectual property.
    7. Metals like gold

    Danlok added tip…8. Audience..

    Nice video ๐Ÿ‘Œ

  90. Naser Rezayi says:

    Number 9: They don't present what they have…

  91. Speci Star says:

    7 thing can rich people buy,….rich can buy everything

  92. moi ojit says:

    How is buying car is under asset?

  93. the dark world says:

    How is buying automobiles is under asset?, i am also confused on this point, actually buying automobile second hand decrees its price even if it is a super car. although there is one way that you can create a car rental business ,and which gonna make you money(cash flow) if you are lucky enough , because lot of car rental businesses are there in market.

  94. dinesh kumar says:

    How poor people can buy cars,arts and real estates… Not logical…

  95. Bintang Utara says:

    Danlok you did it. You got audiences.

  96. beatrix khn says:

    I like the second last one gold I love it

  97. MD Gaming says:

    This is the lesson of the day:
    Rich people buy assets (real estate, business, automobiles, stocks etc)
    Poor people buy liabilities (Car loans, credit card debt, luxury items etc)

  98. common sense says:

    rich poeple have the secret to wealth and write a book about it ,poor poeple must buy the book to know the secret.

  99. N .A says:

    *Macbook ๐Ÿค” = liability ๐Ÿ˜€๐Ÿ‘Ž
    * iron man toys = asset๐Ÿ˜Ž๐Ÿ‘
    * women ๐Ÿคทโ€โ™‚๏ธ= liability ๐Ÿคฃ๐Ÿ‘Ž
    * Australian realestate = liability๐Ÿคฆโ€โ™€๏ธ
    * share market = assets ๐Ÿ˜๐Ÿ‘Œ
    * gold bullion = asset๐Ÿ˜๐Ÿค˜

    Thanks man I learnt alot

Leave a Reply

Your email address will not be published. Required fields are marked *