People build houses on loan leave it empty and stay in a rented house in diaspora.

Waithaka is really smart. Reinforcing his point. Your house is not an asset. You spent a lot of money to own it. As an investor your house suck money from you. As an average person your house is an asset. Having people pay you rent is what makes your house an asset. Having a house is good but not enough for your financial freedom. Working hard to have more money flowing in through diverse investments . Having more assets on your financial statement means you have less deficits, Akin to having a low Debt to GDP ratio.

@davekezegulewanjala1221

Ай бұрын

You’re thinking like an average Kenyan. A house is many things: 1.Tangible asset- it can be bought. Sold or rented making it part of one’s net worth 2.investment-value of property accumulate over time 3.Equity if it’ was acquired through a mortgage 4.collateral - like of credit/ security 5. Income generation- if rented out . -But i get you, your concern is liquidity.

@davekezegulewanjala1221

Ай бұрын

That was just financial benefit.Lets look at homeownership holistically, 1.Living benefits- shelter and stability,customization and community/ root/sense of belonging. 2.psychology benefit- sense of security and pride of ownership. (I know deep down u want to own a house😊) 3.Longterm financial planning- retirement benefits and inheritance- generational wealth.

I love this conversation

A very nice conversation. Thank you

im getting inspired. thank you

Correct. The Financial Institution is NOT concerned of your well-being, but their bottom line.

@tyrismaxey

Ай бұрын

It's a business

Great conversation 👌

Sometimes you need the car and you can’t avoid it without loan, and the cost for that is interest

@albertluiz1646

Ай бұрын

Buy a cheaper can then, not all cars are sold at the same prices

School fees is consumption? Wow. Education has possibly the highest ROI known to man.

@davekezegulewanjala1221

Ай бұрын

My jaw dropped

No lies , majority of working class people buying cars to show they’re doing well . Eric implying it’s ok to take a debt just because you can afford it , is typical working class mentality. With that mentality , banks will have a field day with you .

@mizzcatt7691

Ай бұрын

That's why they are one paycheck from poverty.Because the job is what is supporting the borrowing..once the job goes the car is repossessed then what??poverty loading. If their only source of income is that one job

@charlespablo1414

Ай бұрын

Let them waste their money. As soon as they loose their job they will come back to their senses

@albertluiz1646

Ай бұрын

Perfect he doesn’t know anything yet he keeps resisting to learn from the young financial genius waithaka

The bitter truth. The CEO is really smart.

Waithaka great speech

If a person has multiple decent sources of income or high amount of savings,it makes sense to take a high car loan like Eric says. But reality is many who take loans for those big cars its against their salary.Knock on wood the job goes..these people will be in big trouble.Its a false sense of security to borrow according to your current salary

Reality and theory 1,which group or class are u addressing,

Shylocks ,in my area, are not taking any domestic appliances or furniture blaming the bad economy. People are taking refrigeratos, freezers, microwaves ,Tvs even repairable machinery to scrapyards .

@mwendapoleee

Ай бұрын

Waah that’s serious,cause nobody is buying domestic appliances anymore.

In one hen....kuwa serious.

30:50 A two bedroom apartment is small ?

1.8M Toyota 7L

Alafu ukufe uachie watu sherehe ya jasho yako 😂😂. ITAGULWA!! HEEE HE!!

What is a bond? It is a glorified IOU.

Because we broke, bruh....

Believe you me, sacco is as good as bank given it's pros and cons.

What is good for him isn't good for me! Kwani people need to keep struggling and enjoy nothing. Mtu atafute dooh spend vile anataka bora asiombe akikosa.

Borrowing to finance one’s education is not a bad debt. Hiyo toa. Focus on where bad debt really applies.

@wawerukamau1260

Ай бұрын

Finance a person education but remember it's not that person responsibility to pay back. Save for your own future; relying on those you finance for their education does not always work.

@Kittygacha_playz

Ай бұрын

Borrowing to finance an education that has ZERO job or career prospects? Very foolish. I would prefer to finance moving to a western country for an entry level job that pays me more than zakayos salary. Tafakari hayo.

@itsTheTruthTeller

Ай бұрын

@@Kittygacha_playz muelewe ye ni warria hao hawana shida 😂😂

@Kittygacha_playz

Ай бұрын

@@itsTheTruthTeller Hakuna mtu dunia hii hana shida. Ata mzungu wa kuzaliwa America. Waria wana mashida mengi sana kama huna habari boss.

@diogeneselcinico2957

Ай бұрын

Highly depends on what the education is. Not all education is worth getting a degree in. Sometimes an apprenticeship will be far more valuable than any degree in certain fields

Rich dad poor dad lessons

You can not put monetary value on satisfaction..

@davidkahura5365

Ай бұрын

Satisfaction is a fleeting experience.

I will not keep all my eggs in one hen

Wathanka, you always come with the same suit. Kwani hauna ingine bwana😂😂😂. That's on a lighter note. Thanks always for the good information

@th82m26

Ай бұрын

Grey has many shades

@charlespablo1414

Ай бұрын

One suit might be good enough. It's better to have one good suit than many bad suits😂

Someone here doesn't understand what he is saying on matters concerning investments,,he is more emotionally involved than logically.... How can you say "if something happens" ... The hope of something to happen is not a strategy. We don't operate by lack on a higher percentage...😂😂

@alexkibe4179

Ай бұрын

I can tell huna credit card 😅. He is preaching to me. I got a credit card I ddnt need, I am being sent info to borrow more, but he is talking about utilising my income

Life insurance is 💯% guaranteed you'll die...

CT stick to literature 😂

The man with the cap is a stupid person and doesn’t want to learn, he resists to all factors with his little or no knowledge on finances. Waithaka is a smart guy and I completely understand everything he is talking about because I have read 12 financial books e.g Rich dad poor dad, the richest man in the Babylon & the road to wealth creation by Dr Emmanuel Olamide

Buying a car and house whether on loan or not is not a mistake. Those are costs you will incurr so far as you are born. And when you finish paying, you will be that amount richer! Borrowing for business is double risk

@charlespablo1414

Ай бұрын

You don't have to own a car unless you use it for business

@jesseludenyo6436

Ай бұрын

@@charlespablo1414 life is not about business. Life is about purpose.

Buy cryptocurrency.

Asset.... CASHFLOW... 👍👍