Spanish Woman Exposes The #1 Reason Americans Are BROKE

Wow 😯 this is a powerful financial couple. He flys planes ✈️ too?! Good for them! Hope they’re able to retirement in great fulfillment wherever they choose 😊 Happy for them.

I found the car loss in value conversation interesting because it came on the heels of the discussion where he lost money on stocks and crypto. He was very passionate about that loss in money because of his knowledge on the subject, but was very non-chalant about the stock losses. It goes to show how you can be great in one area, but still have blind spots that can cost you just as much if you are not careful.

Basic helpful lesson is - pay only cash. If you want something, work and save the money. Their avoidance of debt was super admirable. I did think he rolled his eyes at the ETF recommendation. Boring funds like that aren’t his thing. Anyway high income plus targeted frugal spending - no groceries deliveries!!!! - Applebees restaurant- etc - means they accumulated assets instead of cc debt like many Americans

Update: other properties were not in their trust…yikes!

Great, humble hard working couple, very focused and disciplined. These are the kind of mentors you want to learn from. Our economy would be balanced if more people lived savvy such as them. 😊❤

A lot of people would be requesting that burn out pay if they had it.

I love these cross-cultural comparisons. I'm Canadian and when I travel to the States I always notice two things: first, y'all have much nicer cars than we do and second, Americans are clearly investing a lot in their teeth. Very nice teeth! The median American income is 26% higher than the median Canadian income (on a PPP basis) and it really shows in the cars and teeth.

Great video. He inherited a lot so that obviously assisted him greatly. His wife found NZ boring? How come?

Depends which country in the EU provides money. I know people who learnt English, started a business in the EU and spread their business. Unfortunately most people in Spain refuse to learn the universal business language in the EU, being English. Go to Greece for example. Everyone below 50 or 60 can speak English. If a Spaniard wants to do business, they need to learn English.

If he’s earning $400k pa, where is it going? Why doesn’t he have cash reserves? Something seems off here.

Great episode. Sound advice to get the couple to increase their liquid assets, reduce risky crypto and look into ETFs.

Great guests as always. I love how you always get these interesting people. Best wishes

Bonjour Mr. Romain, if you are willing for a video call outside US, ping back

How does he consistently make so much income? Easy to say pay cash when you can ask your family for a massive loan and earn $400k. Thats why they're rich, its not because they dont shop at Wholefoods. He says be frugal, but he's blown thousands on foolish investments.

Such a wonderful couple, great mindset. Encore une mine d'informations et un parcours atypique pour explorer des pistes un peu différentes... Bravo Romain pour la quinzième fois, tu es très inspirant. J'en profite pour te dire que depuis que je suis la chaîne, j'ai mis de côté et surtout, à 34 ans, j'ai radicalement changé mon rapport à l'argent. Pas simple quand on est artiste, mais au final, peu importe sa situation personnelle, l'important c'est de faire jouer les leviers dont on dispose et d'être frugal autant que faire se peut. Amitiés, Ben

I love the diversity of guests you have on your show! It’s really interesting to hear the full range of financial differences across countries and people. Lovely video as usual Romain!

No Chile is not Spain. No Chile isnt communist. You can find this out by watching the first 5 minites of the video

I love this, high wealth and still looking at how to do things better. So glad it’s not all focused purely on those struggling. We all have different situations and we ALL have to manage money whether a little or a lot

It's no abundance that ruins America it's Corporatism=Fascism

Love love love your channel !

If you are willing to work in cities, that helps too. Not just opportunities everywhere in the states.

Loved this episode! It’s amazing to be able to see how at every income level people have their own quirks idiosyncrasies.

What poor people don't realize is that most rich ppl are rich b/c they're frugal and hard working. A lot of poor ppl are poor b/c they're lazy and spend too much. Good advice they gave about not wasting. I will take that to heart.

It's interesting how first generation immigrants tend to have better finances than 2nd or 3rd generation native born Americans.

This was a really good episode Romain🙌🏾

Just a little precision concerning what Romain talked about "l'arrêt maladie" or the work stop. It's the social security that normally pays the employee. It could be either directly to the employee or the employer pays and the social security compensates. Now there is the possibility where the employer pays "des indemnités complémentaires" as social security i think pays 50% of the salary (it could get lower if the work stop is long). This additional compensation can be paid to employees who have been working for the company for at least 1 year. I am talking only about France i don't know how it works in other European countries.
So it's a bit nuanced than just saying the employer pays. I can see where they come from however, the employer does have a social responsibility towards its employees.

shes not spanish she is chilean

I do find it admirable of them to try not to show off their wealth so much (avoiding expensive purses, choosing used Toyotas, etc) and the husband explained why he enjoys his plane and helicopter pretty well. They definitely do need to diversify their investments and invest smarter and maybe think about their investments more “humbly” i guess. Trying to beat the market? Good luck. Have they done it so far? It sounds like not, since it sounds like they lost some in stocks. Always aim for tax advantaged options if possible (they make too much for Roth IRA unless they do a backdoor or something). Avoid high fees and brokers trying to taking advantage of investors. The people I find the most humble or simple and thoughtful wealthy people invest in ETF’s - so I think that’s great advice. I also like watching Professor G’s channel on ETF investments. He communicates his ideas pretty well.

Kudos to Romain for mentioning estate planning and tax planning to this couple, as well as insurance. That would be very important to this couple indeed. I hope this man owns multiple life insurance policies. Among other things, they need some Joint-Last-to-Die policies both inside and outside his corporation to handle capital gains and estate taxes. In addition to that as parents to a 4yo, I hope they both own a good amount of term life insurance.

Thank you for showing us people doing well in life … it‘s refreshing!

She's from Chile, she's not Spanish. She's Hispanic. Spanish people are from Spain and Spain only.

Great episode again. Always grateful for your kind and educated demeanor. Keep up the good work!

I always say, at the end of the day, we all have a budget whether great or small, it's the rain puddle to the fish pond to the lake to the ocean. We need to assess and reasses throughout to do better always striving and seeing where our risks or opportunities are in different economic changes. Agree about diversification of assets. Great show Romain! Best wishes for their future. -John's wife

Amazing couple. Gread video Romain!

Yes he saves on cars trucks, very good, and a lot of us do our best, but they splurge on helicopters, plane's so no different than people buying cars they love.
Respect how well Yee have done 👍

Thanks for the video. Super fascinating to see entrepreneurs on your platform as well. 🎉

This is wonderful. People born and raised in the US have no idea what advantages they have if they want to get ahead.

Chile 🇨🇱 and New Zealand 🇳🇿 = the perfect combination. ❤

The husband in this couple is 🔥🔥🔥😍😍😍

This is a powerful couple! I was surpised by how low their cash on hands was though. They have no emergency fund. Good recommendations Romain. I love that you showcase a variety of guests ❤ keep them coming 😊

She hit the lottery.

Hoooold on a second. Business owners complaining about strong employee rights in Europe, while in the US (according to my limited knowledge) you can get fired on a whim. I can only speak to my country Ireland, but there are loads of supports for entrepreneurs who wish to start a business here.

I love her comment “it’s better to have 5k in a normal purse rather than have 0 in a purse that cost 5k”

"We're not flashy at all, we buy what we need"
- Has a plane
- Has a helicopter
- Has 6+ houses

yeah ok

They have a plane and a helicopter 🚁 😂, very unusual

May i say that Spain was a facist country until 1975

They are the perfect example of Ramit Sethi’s mantra: “You can spend extravagantly on the things you love....as long as you cut costs mercilessly on the things you don't”.

the good life!

A plane and helicopter! Thats crazy! And here I am with almost twice their networth ($7M) driving a 2011 Nissan. I am also an immigrant from India who came in the 90s. Income fluctuates between 500k to 700k. Age 51, too young to retire. Life is good! Maybe Romain should interview us… 😂

Yeah, just to be clear, they're rich because he started a company that turned out to be very successful. I'm happy for them, and no doubt they have worked hard, but not everyone can just do what they did, unfortunately.

And, I'm sorry, she said it's easy to get a job? Easy to get paid well? Without education?

Survivor's bias, delusion, not sure what to call it yet lol. 😅

I love Channels where successful people try to show non wealthy people how they're journey has gone.
I have no idea about finances but I always want to learn, thank you to the host and guests

The lesson from that dumb amplifier debt was worth millions!

Pinochet communist? WTF!

These type of people are using tax shelters to not pay much taxes. I know these type of people who have investments in other countries and wire just enough money below the radar to bring back to the USA and it’s under reported. Called it what it is that they do not pay their fair share of taxes, I’m sure of it. That’s why they don’t keep much cash in liquid accounts.