when wealth grows it needs protection without careful planning what's built can erode quickly and the rich know this they don't leave any of it up to chance their strategies are deliberate rooted in protecting what they've earned from risk taxes and that everchanging economy so if you've worked hard to create Financial stability guarding it is your next step this isn't just for billionaires okay it's for anyone who wants to keep their financial future secure so let's see how the wealthy prot protect their assets and then you can do the same welcome to alux the place where
future billionaires come to get inspired number one always have liquidity now having liquidity cash ready and on hand is one of the most important moves that you can make to protect your wealth when your money isn't tied up you can act quickly when opportunities or emergencies come your way the wealthy know the value of staying ready and keeping the reserves in place where they can get to them immediately without selling off Investments during the 2008 financial crisis so many people lost everything they sold properties and stocks at a fraction of their value because they needed
cash fast but those who had liquidity were in a different position entirely they held on to their assets waited out the storm and even bought new Investments at lower prices setting themselves up for greater returns later on keeping liquidity puts you in control it keeps you in a position to be prepared for anything and then you can act quickly and decisively even when others are stuck number two think big and out of the box you're going to have obstacles and challenges coming for your money and your wealth no matter how well you try to protect
it so you have to get a bit creative okay about how you accumulate wealth where you keep it safe and how you keep it growing being creative about protecting your wealth also protects it because it reduces your dependence on a single income Source you don't have to completely stray away from what you know but stepping out to different paths creates that extra level of security think about what Walt Disney did back in 1955 when he bought Land in Anaheim California to build Disneyland his idea seemed crazy at the time why build a theme park when
his movie business was already successful well this decision protected his company from the ups and downs of the movie industry the parks brought in steady revenue and kept the company secure on multiple fronts protecting your wealth needs action not hesitation okay if you want to build value that lasts then you have to step outside the usual paths number three invest your time in good financial habits you know it's funny when we talk about creating and Building Wealth we throw the word Investments around a lot right but mostly when it comes to which stock or companies
to put your money into we don't really talk about the time you need to invest in just building good financial habits it takes a years to get to know your strengths and your weaknesses when it comes to protecting your money it takes a calculated effort to learn about these weaknesses and work on them and to recognize your strengths and use them for real and the rich know this about themselves they started learning really early on and it's how they got to where they are now so before you think about putting your money into offshore accounts
or donating to certain charities to claim taxes back because you've heard it's worth it work out if you're dedicated enough to go through all that paperwork if you're knowledgeable and interested enough to learn about different Tax Strategies because if you're not and you do those things half-heartedly well then you could end up risking and losing even more than what you started with number four make sure you have some great experiences too because look okay one of the worst things you can do with your money is to hoard your wealth for a range day never spending
or enjoying any of it and always worrying that something will happen where you lose everything you can spend your entire life protecting your money and then what have you even lived have you had great experiences that make your life and hard work worth it you don't have to blow everything you've worked hard to enjoy but you do have to get out there okay and travel experience life go out to the nice restaurant if you can afford it enjoy the VIP box at a concert if you can Splurge dance at that Festival rent that dream car
of yours for a weekend no matter what happens to your wealth nothing and nobody can erase your memories the memories that make it all worthwhile so go out there and enjoy some of your wealth okay and now we know this might be slightly controversial there's a constant push and pull right because on one hand building and protecting your wealth requires some sacrifices and putting your money toward great experiences can create a habit that has the potential to derail what you built on the other hand the goal of Building Wealth is to be able to enjoy
your life your freedom if you're not enjoying it now because you're so strict with yourself about spending money then are you actually in full control have you become so obsessed with a number that you've forgotten why you're doing all of this in the first place now we knew this needed a deeper dive okay so today on the alux app we've got an exclusive daily session just for you in a dedicated discussion we're tackling this Duality to determine the value of experiences versus Investments you can download the app right now and listen to it and we've
got an extra exclusive offer just for you so download the app scan this QR code on screen and you'll get 50% off the annual membership but this incredible offer ends when February begins so if you want 2025 to be the year you turn everything around you know what to do I'll be there with with you every step of the way see you on the inside number five spread the wealth diversify diversify diversify even if it's a tiny amount in many places do it markets life wealth property insurance it's all unpredictable at the end of the
day you could be sailing smoothly for years everything's going great and then the property bubble bursts or the market fluctuates just when you need needed extra Financial Security or your job is at risk just as you've made a big purchase you have no idea what's going to happen so the only thing you can do is put a little bit of your money into everything one of the suggestions we always give in this space is to invest in art now if you've watched our videos before then you know that we work pretty closely with Masterworks the
sponsor of today's video and that's because investing in art is a safe haven asset you're protected even when everything else fluctuates Masterworks as experts do the heavy lifting for you okay they analyze the market they coordinate Acquisitions of high value pieces and make it easy for you to invest in shares of high quality art the Contemporary Art Market they let you access has even outpaced the S&P 500 overall across the last 30 years so now everyone has the opportunities to put money into Investments that pay in fact Masterworks last sale was the bosc yach painting
in 2024 which sold for $8 million after $1,398 days for every $10,000 someone invested into that bosot they took home over $2,600 in profit after fees and from their 23 sales so far investors have realized annualized net returns of the likes of 17.6% 17.8% and 21.5% from assets held for one year now usually services like master Works have a long weight list and traditionally only High net worth individuals were approved but since you're an alux subscriber you're getting special treatment go to masterworks.io need there are perfectly legal and strategic ways to hide your wealth which
is exactly how the rich reduce their risk while holding on to some form of control one way you can do this is to hold your assets in trusts so without this you risk having everything you've built getting ripped apart by greedy people this is exactly what happened back in 2016 when the performer Prince died he didn't have a trust or even a will so his assets went through probate court and all of his finances became public knowledge it made the entire process longer and way more invasive with a trust a legal entity owns some of
your assets so it makes it harder to link them directly to you you can also own assets under business entities instead of your name like when Real Estate is held by an LLC instead of an individual this buffer limits your exposure in legal cases so if someone ever sues you it would be way harder for them to Target whatever wealth is held by that business or trust number seven a great financial adviser now a great financial adviser is worth their waiting gold okay they're trustworthy and loyal which man oh man do you really need when
you're dealing with money that's growing quickly if you already have your normal day job and you've got multiple side streams of income then you don't have time to nitpick through everything to optimize your finances because well that also means you'll have to stay on top of the latest investment and finance news and that changes so quickly it's hard to keep up with unless it's actually your job so find someone with that job a good financial advisor will make sure your money is protected that you know what's going on with it and the important decisions are
still left up to you while the mundane daily decisions are handled honestly it might take a while for you to find one and you'll have to stay on their case but once you find the one well you'll will be financially set for life number eight own real estate just own it okay you can do whatever you want with it sacrifice what you need to get the good location even if it's a fixer upper because we can't stress this enough sure real estate is subject to fluctuations and the process can be stressful and you're going to
have this monthly debt on your name for a little while but it's all going to grow in value over time and you have some control over how fast it grows a good upand cominging location beats a nice place in a bad location any day even if you have to put in some work into it in the first place that's okay every scent you put into it increases its value one thing you need to remember here though is that if you live in the property that you own the value of that asset isn't as strong okay
it's not making you any money you're paying to live there you're not generating any consistent income from it if you're able to buy a place in a good location LGE rent for it and then live in a cheaper place yourself even if you're renting that cheaper place well at least you're making money on the nicer place and doing that protects your wealth number nine nurture a stable family life now there's a reason why people in long-term marriages and with children traditionally were more likely to get promoted a stable life protects your wealth it means you've
got a partner and children to come home to and provide for and that partner has already vetted you if you will it means you're not going to take unnecessary risks or do anything crazy because you have to think about more than just yourself on paper it might seem like it eats away at your wealth more which can be true in some cases but it also gives you more grounding and stability that keeps your wealth in responsible hands now this doesn't mean you have to get married and have children to protect your wealth not at all
you can have a perfectly stable family life with your friends and your dogs and your cats you just need something that pulls you away from thinking that you can be Reckless without affecting anyone but yourself create that stability for yourself and you'll have this builtin wealth protector number 10 keep your eye on your Financial Health even if you have the best most loyal financial adviser in the world things can still slip through the cracks nobody can protect and guard your money as well as you will because nobody cares about it as much as you do
so it's your responsibility to develop a plan that follows some kind of regular checkups you want to do it as often as possible but not so often it becomes an obsession for you and you're constantly making changes that jeopardizes your progress once a month every two months or every quarter is a good time to review your assets check on your liabilities and adjust your financial goals there are always going to be changes because things happen that are out of your control and you'll have to play around with your Strat strategies a little bit but once
you have this habit down reviewing and adjusting will become like second nature number 11 get creative with your taxes if you're just paying whatever the government tells you to pay for your taxes then you're missing out okay big time now there's the massive brewhaha about how the wealthy avoid paying taxes right it just doesn't seem fair but the truth is you can take advantage of those loopholes too you don't need to be a billionaire to do this find legal ways to reduce your taxable income there are deductions credits maximizing your retirement contributions depreciation on property
that allows an owner to claim a part of a building's value as an expense even while the property increases in market value so learn the strategies okay get creative play around with what works for you and of course always make sure things stay legal and above board number 12 in insurance insurance insurance now how many times have you heard I never thought that would happen to me because look okay nobody thinks tragedy will strike close to them until it does and in such a tumultuous and emotional time the last thing you want to be thinking
about is how you're going to survive this financially except you have to you don't have a choice the stress and worry will have you regretting not getting your insurance policies in place before beforehand whole life insurance disability insurance car house Health these are annoying monthly expenses and when you've been paying them for years and not using them they can feel even more pointless but there is peace of mind that comes with knowing that if anything happens to you you're protected and so is your family there's no amount of money or value that you can place
on that kind of peace of mind and if something ever does happen then you're going to be so incredibly grateful that you did make those monthly sacrifices because that is made sure that you are protected and covered in your most difficult times number 13 share your wealth now watching your finances grow and seeing how far you've come it can be addictive right you end up wanting to keep adding to it because you get a sort of high from seeing your net worth increase as you get into this habit sharing your wealth with anyone else feels
like you're taking a lot more away from your yourself they haven't worked as hard for it as you have you've had to make all the sacrifices and go through all of the difficult times how is it fair that other people get to benefit from it these are fair questions but the reality is that you benefit from sharing your wealth too you get to see how much of an impact you can make on somebody else's life not just on your own and if you invest in the right people then you'll pay dividends in loyalty and connections
they they'll protect your wealth for you number 14 teach the Next Generation about finances now you probably had to learn all the ropes yourself right you made mistakes you had to face setbacks on your own and you had to rely on your gut feeling even when other people doubt at you if you can make that Journey just a little bit easier for the rest of your family for the Next Generation then do it give them a Fighting Chance too you teach them will ultimately protect your wealth use practical experiences to teach your children or your
nieces and nephews about financial skills give the younger generation in your family the confidence and skills to handle wealth responsibly we've got a tendency to judge younger Generations right because they haven't worked to build the wealth like we have but that's not fair they didn't choose the position they're in so it's up to you to help them understand what a privilege it is to be able to learn and manage money from someone who's worked their way up to it after all once you've made enough money for yourself in this lifetime what else is it for
it's for them they're your legacy and number 15 write a will look we know it sounds obvious and really who doesn't know this already but it turns out far too many people okay they know it but they're not doing it one study showed that 60% of Americans have a written will 60% okay just over half without a proper will everything you've worked for could end up in the hands of people you don't care about or you've never even met in fact the government can take a large part of it debt can eat up that money
if you don't have a detailed plan for where it should go or how your other expenses should be paid for and then you risk leaving your family trapped in confusion as they try to work through your estate and figure out what to pay and where to get the money from your will doesn't just tell people where your assets should go it also tells them how to find certain assets and what to do to make the financial process of grieving easier even if you're not rich having this planned out and protected will help you to breathe
easier and give your family some peace and reassurance even after you're gone it's definitely something that is worth your time and a little bit of money and that's all we got for you today alexir don't forget to download our app to listen to today's daily Alex session where we talk about the value of spending your money on experiences versus investing it here's that QR code again just in case you missed it I'll see you there until next time take care my friend
