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Get Rich Education

Real Estate Investing with Keith Weinhold



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Are Rich People Greedy?

• 40 min

Greed is defined as an “intense and selfish desire for something, especially wealth, power, or food”.  Should wealth be redistributed so that everyone is equal? “I have never understood why it is “greed” to want to keep the money you have earned but not greed to want to take somebody else’s money.” -Thomas Sowell When I was a fresh college graduate, I resented the rich. I discuss the catharsis that made me change my mind. Our guest, Doug Casey, believes that college reinforces the wrong wealth mindsets. Today, one often hears that one should “pay their fair share” of tax. What does this really mean? If one obtains wealth with integrity, that wealthy person makes everyone else wealthy. I give the example of Jeff Bezos and Amazon. Learn why Doug believes that Social Security is a redistribution scam. Resources mentioned: Show Notes: Learn more about Doug Casey: His YouTube show is: Doug Casey’s Take Get mortgage loans for investment property: or call 855-74-RIDGE  or e-mail: JWB’s available Florida income property: or (904) 677-6777 To learn more about eQRPs: text “GRE” to 307-213-3475 or: Analyze your RE portfolio at (use code “GRE” for 10% off):  Memphis property that cash flows from Day 1: I’d be grateful if you search “how to leave an Apple Podcasts review” and do this for the show. Best Financial Education: Get our wealth-building newsletter free—text ‘GRE’ to 66866 Our YouTube Channel: Top Properties & Providers: Follow us on Instagram: @getricheducation Keith’s personal Instagram: @keithweinhold   Partial transcript:   Welcome to GRE! I’m your host, Keith Weinhold. Should we “eat the rich”? Are wealthy people greedy? And where does that belief come from? Should everyone be financially equal and taxed equally too. I answer, “Are rich people greedy?” Today, on episode 429 of the GRE Podcast.   Welcome to GRE! From Hartford, CT to Weatherford, TX and across 188 nations worldwide. You’re back where FF beats DF. I’m Keith Weinhold. This is Get Rich Education. Welcome to the last show of the year.   Are rich people greedy?   First, what’s the definition of greed? Well, the world’s best known search engine puts the Oxford dictionary definition at the top.   Yeah, I think this is a good definition. It says greed is:   An intense and selfish desire for something, especially wealth, power, or food. That’s the definition. And then the example of the use of the word in a sentence is “mercenaries who had allowed greed to overtake their principles”.   You know, the example really hints that greed is a corruption of sound morals or principles in order to get more for oneself.    Greed is not good.    Now, for some reason, actors and entertainers can make gigantic salaries and high-flying paydays but people don’t seem to resent them as much as entrepreneurs or CEOs that make a lot of money.   For some reason, the actors and entertainers as seen as lovable and the entrepreneur or CEO is deemed greedy.   Recently, soccer star Cristiano Ronaldo became the highest-paid athlete ever at $200M per year.   Yankees slugger Aaron Judge $360M over nine years.   Those athletes entertain others. I like watching sports. But I don’t know that they’re advancing society like the innovation that Steve Jobs brought to Apple.   Yet it seems like an entrepreneur could get more criticism.     Now, there are bad examples too. I specifically remember when Shark Tank’s Kevin O’Leary criticized crypto. Then he seemed to do a 180.    Later, we learned that Kevin O’ Leary accepted $15M to promote the crypto company, FTX, that had horri

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