Day 7 of The 14-day Passive Income Challenge - The worst asset to own - Chaim Ekstein

hello hello hello Brichim Haboim i'm so excited  that you're still with me day 7 of the 14 day   passive income challenge let's do this let's  jump right into it we're holding the leverage   of the ALM model ALM stands for Attract  Leverage and Manage and we're talking about   how to leverage in a healthy way and today we're  going to talk about the worst asset for somebody   to own yes you heard me right the worst asset  not the best asset the worst asset and i give   you a hint it's something that people like a  lot to have and it's the worst thing to have   stay tuned with me if you agree  with me or you disagree with me   or you have any experience in it please comment  below and i'm looking at every comment and i'm   replying to the comments and let's have a  conversation in the comments below and as   always if you want to have updates on our passive  income strategies make sure you subscribe to the   channel so you get all the updates and you don't  miss even one video let's jump right into it   do me a favor before i'm gonna tell you what  i think is the worst asset to own pause this   video and make a list of your own try to come up  with some ideas and i will be very curious after   this video if you have the guts to contribute to  so many people together in this Passive Income   challenge let us know what you thought about and  let's have a conversation about it and see maybe   you came up with something better than me and i  will admit to you but in my experience over two   decades working with people in their finances  helping them with their passive income plans   this is what i came up with as being the worst  worst worst worst worst asset to own and that is you ready money money is the worst  asset that somebody can own cash dollars   dollar bills is the worst asset that somebody  can own this is the worst asset to own   unfortunately i need to have this in order to  spend money on the things i need for my lifestyle   but it's not a good asset to own it's not  something that's worthwhile to pack away   to stack away because you know what's happening  it's an asset that keeps depreciating its value   inflation comes in all of a sudden you go to the  supermarket and things are more expensive than it   was before the government can with one stroke of a  pen they can't decide how much your money is worth   they wanted to be worth more they sign something  they wanted to be less they sign something and you   were holding this asset and finished when you own  real estate who decides the value of real estate   the marketplace people want to come  live there their is demand for it   people want this you own a product your own  postage stamps you know whatever the marketplace   decides if they want to pay for it or they don't  want to pay for it but it's not the government   when you you own cash the government decides  how much it is worth i'm not going to go   into the whole cryptocurrency world now  it's for another time but this is one of   the fundamental things that the crypto world  wants to fight they want to fight the notion   that people should have a currency that it's up  for the government to decide how much it is worth   and that's why when you have money you should  always be thinking what is the best thing i   could do with my money that it should not be  the worst asset what is the best thing i could   do to my money it should be inflation proof that  when things go up in price things go up in value   my assets also go up if you're gonna earn two  three percent on your money guess what my friend   as much as i love you i'll tell you your money is  probably going to depreciate even more even though   listen to this even though the government wants  us to believe a lot of times that inflation is a   low number one percent two percent three percent  or even ten percent it's not in real life in your   situation you have to think to yourself what is  real inflation in your situation it's not only the   milk you buy if the milk is up in price if you buy  a milk for five dollars instead of three dollars   yes that's a big inflation but if now you need  more technology than you had before if now you   have a bigger family if now you have to replace  all the electronics in your house like a washer   and dryer if now you need a bigger house because i  have a bigger family if now you need more teachers   or private tutoring or whatever because you have  a bigger family if now you need more gifts because   you have to give more chanukkah gifts and you have  to give more gifts if now you're in a situation   that your children are start getting married and  your family expands whatever it is that's your   real inflation the real infaltion is not what some  it's in some website of the government that's not   reality that's not your life that could be some  dots on a board that makes no sense not it's not   malaya imoirid for you nothing goornisht your  inflation is what your life is and how your life   is destined and how much you lifestyle cost in the  long term that's your inflation you should be very   careful of that how does this fit in to what we're  talking about leverage because if you understand   that and you have money sitting in a house you  have money sitting in a business you have money   sitting in any investment and you're not taking  advantage of leverage guess what your asset is   depreciating because the asset is going to be  there regardless if you take a mortgage or you   don't take a mortgage if you have a hundred  thousand dollar home the hundred thousand dollar   home will do its thing it has nothing to do if  you have a mortgage on it or if you don't have   a mortgage on it but if you keep the money there  that money that you keep there that you could have   taken out for a small low interest rate and you  didn't because you didn't want to pay the interest   that means you didn't take advantage of arbitrage  that we discussed in a previous day and you let   the money sit there keep depreciating okay  that's all i have for you for day seven   let me know in the comments below if you agree  or if you disagree or if you have any other   input on the subject that we spoke about and yes  i look at every comment and i reply and as always   make sure you subscribe to the channel to  get any updates on passive income planning