Letzte Episoden:

• Moment 188: The Real Reason You're Always Tired: Professor Guy Leschziner

  Veröffentlicht am: 22.11.2024

  In this moment, the world-renowned expert in Neurology and Sleep Medicine, Professor Guy Leschziner outline why sleep is crucial to every aspect of your life, and the biggest mistake people make when it comes to get a good night’s sleep. Humans spend a third of their lives sleeping, however science still understands very little about it. Guy says that sleep is of fundamental importance to humans otherwise evolution would have removed it. Despite its importance, Guy thinks that people undere...

  In this moment, the world-renowned expert in Neurology and Sleep Medicine, Professor Guy Leschziner outline why sleep is crucial to every aspect of your life, and the biggest mistake people make when it comes to get a good night’s sleep. Humans spend a third of their lives sleeping, however science still understands very little about it. Guy says that sleep is of fundamental importance to humans otherwise evolution would have removed it. Despite its importance, Guy thinks that people underestimate the power of sleep. He’s says that too often people make lifestyle choices that ensure they will have the worst possible sleep, which can then impact everything from their immune system, cardiovascular system, and mental health. Listen to the full episode here - Spotify- https://g2ul0.app.link//HrQyIkjaIOb Apple -  https://g2ul0.app.link//QMALvueaIOb Watch the Episodes On Youtube - https://www.youtube.com/c/%20TheDiaryOfACEO/videos Guy Leschziner: https://www.guyleschziner.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

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  Why sleep? IO, the things that you could committ som muchive your time toocas apperve been really thinking and working on the subject matter. Sleep reout. So ges two theca? Rth something i what? Why? Well, i think the first thing is is that s we spend a third of our lives doing. And y we whatever people like me will tell, yo, we still understan relativey little about understand relatiy littleoutu know what is for what it does to bioloology oiciy that changing very, very quicky now it s it ha a great deal over with the world of clinical neurology. So als do i specialist clinica specialist clinics in appilepsy and id specialist clinics in in general neurology. So and un sleepend the brain intersect everythinggle level. Of course, you know not me saying this, but a famous statement is sleep is of the brain, by the brain and for the brain is in inttly linked to every aspective hew brain works. So wann of the really exciting things is that because it a relativey new area are understanding of it is exploding in WS that a not parallel the cross other areas of clinical medicine is important. Is important? Ja, i think is fundamental importance. Younow the fact the if sleep was't importten, it would be a very a stupid thing for evolution to creati us the fan that we are essentially switched off fr morx stnal envarment for thod of our livive and actually that ahohole host of evidence. When you look a hew ##in animals of develop the ability to be toleep withhoy half theat brainr a time you animal like aassic mans, birdsin and dophins the very much sugges will you kno that must be of great importance. Ift if sleep is a risk for a survival be if you'e an classic ma a like adlphin and your sleeping and you unable to surface or renunable to see what predator ar arrounding. The the evolution has design a system where my enables you to sleep with half of your brainr. The time that in anno it self to is important the cicaadian rhythm thatr cycle ahole host of biological rhythms have is so intrinsically linked to life it self, the actually every single life form exhibits features of this ho is Aradian rhythm tellas this was something that wasit proportiize the very varily stage in life, the evolution on earth. So yes, it important and over the lost you years we veerstand understod precisly why it important? I say procisly, but we know the it's important for pretty much avery aspects of awaking lives, be or immune system, bet ouur cany vascular system on blood pressure, risk of da beaties, mental health, depression and anhory, even how we passive pain. So really is fundamental to every system that we rel on during orwaking lives having seene, you know, tausend und 1000 und 1000 of people that struggle wit sleep that i been sen your center. You think the the average person on the street over or underestimate the importance of sleep in a date day life. Wha think is changeging, think it was not that long ag gowher younow comment like sleep is for WPS was heod fally frequently and there was somebraning rights associated with how little you sleep. I think there has been a transformation of the lance for fünf no years where Iy people have become much more aware. I how important a sleep hi is. And i stunked proping a a little bitk where yo think we stand th and over to und toate. I think that there is still in the general population and undresimation of have po sleep is. But i think theat are certatain segments of the population the all much morre aware I and papps even darre. I say overestimate over. Yes, i thing i thing that there is a danger the current time theat we ten to obsessionize about sleependd and think that it is the be olland anddo list of cal pause of nomal life fr sleep to flugraht depending or moth going or in or externurnal and or internal lives. And i thingk the dangero is the if you overmpfze importance of getting a to raten half hourss sleep every noght thean new actually risk proble late to down the line, exasbaing things like Somia, the average person that you ve treatd worked with in you clinical practice. Thuging with sleep is at the hot of the issue just pa so sleep he like yoe saat that ja be can ive go se miny friends, that'say to may that they sher with thatleep many of the wite som genetic reas w this many peoplegling withleep. So imagine it you some con of behavior reason. So i th the jeans the predispose to insomnia pretty WHD spad but olyu know in pretty much a wool ars of medicine. There is an intraction between genetics and environment and certatainy poe sleep hen andat. It's a horble term. I hay that term bu the term that is ma whitely used in understood. Can Binly Putin place certain aspect of behavioior. The Thn can give roise to chronic insomnia in the long term. So if i ve go very bad chronic insomnia thanat sudy puting good sleep hgin in places unlke cly to fix it, but it maybe that that pa sleep hgien in the first instance, gave, rise or lease pre dispose you to developing insomnia. I i want be the worst possible sleeper. OK, in the word, wha have to so i thk you would probay have to setup your home office in your bedrom, OK? Yo have to haveu know your tv on in your bedr all the time, have be surrounded bioectronic devices drin, calots of coffee, late the evening drin. Alcol, alcol in the shul. Of courses is the dating is a central ne assista depreent, but it does dramatically w in the qualtive, you sleep for verus reasons, the don ret chemical ofied factyu ve god a ful blather fact the you problebly snoring a little bit more, or alcohool not a good thing, you know? No, having a wine down period, so you know, gambling on the stock market until w I switching your laptop and andn to get to bad those coins of things that you know, the quint essential. Very, very bad sleee pointe. What about when i eat? So you know, eating is less importen button void din a very large com hydrate me comhydrate rich meal. Before you go to bad for theies one is theat, weot i it conc co som flctuations in sims of your blood jugger. Anno say if you ve got ab bit reflog, I can make that much wase. OK? What about sleeping in bed with Syby? Ho? Well, i think that for some people thve on again, this goes back to no one rule for everyboday. You know, if you ve go a sleep trade term sleep reactivity, which is wher your sleep is very liable to your environment. The novly sleeping next to somy snoring loudy. You get up in the mid of the night to three times to your an i com can be very disruptive to your sleep. If you ve got very little sleep reactive it see, you mayally find confable more confable to sleep wit somemeredy in a same ba you thinking, yo, the day is it werhere can tly move than to the's k no blind, so carins in AV badream and als woandering, if that liht beu good thing, because least means that intbs of my saccaati in rhythm I'm wakeen ut wut the same time everyday Beca I'mwaken ut whenh the sone comes up, yo, but theat sone comes up a different times on different days firstly. So if you wer are doing that retenly, you moge fod your soft, really raw. The sleepd appprveedd in the summer month. And so there is summer emerging evidence. The exposure toutednht your sleep is not very good fe yo is a very reason study that implied that light expressure night incres you risk of dans beates. So it's thrd need not good for the quality, your sleep and the likelyhood. If the you wern't wake up AES it light your wake up a noro. So afteris got light w during that ouro, so may have ha a negative impact on the quality. Your sleep, so having a dock bedroom, is really passh of good sleepenen as is having a quarad bedrom that is notes to hoho to code what? If you where a sleep mask thatver yes it does. I'me nog where a sleep mask i think it youw particulary, if You don't have good blackout cuttin or blindes in your bedroom musing a sleep mask particulary in the summermo is probl very hepuling dateed. Does that me not? The unile loke recept is we havever the som on Internet. The recpt they we no to be of significants in of defining rhythm res Verwandle deine Leidenschaft mit Shopify ein. Business und Knackumsatzrekorde mit dem Checkout mit der weltweit besten Conversion. Du hast richtig gehört. Der Checkout mit der weltweit besten Conversiond. Der legendäre Checkout von Shopify vereinfacht das Shoppen auf deiner Website bis hin zu Social Media und überall dazwischen. Das ist Musik für deine Ohren. 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• The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh

  Veröffentlicht am: 21.11.2024

  Revealing what hedge funds and multinational banks don't want you to know about building wealth! Jaspreet Singh is spilling secrets and helping everyday people find financial freedom   Jaspreet Singh is an entrepreneur, former attorney, and financial educator. He is CEO of Minority Mindset Companies and host of the 'Minority Mindset' finance and entrepreneurship YouTube channel.  In this conversation, Jaspreet and Steven discuss topics such as, the impact of spending more tha...

  Revealing what hedge funds and multinational banks don't want you to know about building wealth! Jaspreet Singh is spilling secrets and helping everyday people find financial freedom   Jaspreet Singh is an entrepreneur, former attorney, and financial educator. He is CEO of Minority Mindset Companies and host of the 'Minority Mindset' finance and entrepreneurship YouTube channel.  In this conversation, Jaspreet and Steven discuss topics such as, the impact of spending more than you earn, how to clear credit card debt, why you shouldn’t buy a house, and the 75/15/10 plan to become rich. (00:00) Intro (02:14) Who Should Care About Jaspreet's Message And Why? (03:21) Figuring Out Wealth: Key Differences Between The Wealthy And Everyone Else (08:11) Jaspreet's "Penny Drop" Moment: When It All Made Sense (13:03) Lessons From Starting Early In Business (17:48) Should You Buy A House Or Rent? (24:20) Understanding Opportunity Cost In Financial Decisions (26:28) Is Rent Really Throwing Money Away? (28:13) How To Know If You Can Afford A House (30:59) Do You Know What You're Really Spending? (32:51) Showing Wealth vs. Hiding Wealth: Which Is Better? (38:04) How To Stop Living Paycheck To Paycheck (44:20) Why Sacrificing Can Be So Hard (47:12) Life Struggles And Reckless Financial Decisions (50:17) Jaspreet's Thoughts On Cryptocurrency (55:52) Developing A Money Mindset For Success (59:45) Negative Stereotypes That Hold Us Back From Achieving Success (01:03:05) The "9 Dots" Trivia: Thinking Outside The Box (01:08:50) Facing Barriers On The Path To Financial Freedom (01:11:14) Escaping Financial Barriers: Actionable Steps (01:13:36) Do You Need To Remind Yourself Of Your Mantra? (01:16:34) Money Is A Tool: What Does That Really Mean? (01:20:37) Why It's Important To Recognize Abundant Financial Opportunities (01:22:50) Why It's Your Duty To Become Wealthy (01:23:56) Should We Change Our Investments With Trump In Power? (01:27:50) How To Get Started With Real Estate Investing (01:30:12) Jaspreet's Best Investment Ever (01:35:03) Choosing The Right People: Steve Jobs' Valuable Lesson (01:43:29) The Power Of An Internal Locus Of Control (01:50:18) Elon Musk's Tax Efficiency And Loaning Against Assets (01:54:47) Understanding The Retirement Crisis (01:56:23) How Much Money Do You Really Need To Retire? (02:02:24) Solutions To The Retirement Crisis (02:10:31) Principles For Success In Business (02:15:26) Be Boring And Patient: The Key To Winning In The Money Game (02:19:52) Best Places To Gain Knowledge And Skills (02:21:42) What's The Most Important Thing We Didn't Discuss Today? (02:22:52) The Last Guest Question Follow Jaspreet: Instagram - https://g2ul0.app.link/UZG34SJiGOb  Twitter - https://g2ul0.app.link/32z1S6LiGOb  YouTube - https://g2ul0.app.link/G33HmeOiGOb  🤐👀 The 1% Diary is almost here - make sure you're ready!! https://bit.ly/1-Diary-Waitlist-Megaphone-Ad-Reads Watch the episodes on Youtube - https://g2ul0.app.link/DOACEpisodes  Follow me: https://g2ul0.app.link/gnGqL4IsKKb  Sponsors: Linkedin Ads - https://www.linkedin.com/doac24 PerfectTed - https://www.perfectted.com with code DIARY40 for 40% off  Learn more about your ad choices. Visit megaphone.fm/adchoices

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  We have to get over the monys th you can build if you redber you live, you can buildh if you don't have access TW millions a doll. Th's m true and is want he think s give much better returns TH and any real and any stark an EV, any cryptos. So last hak about the real weighted build true. Wel Jasbery sing, is the no nonsen financial gorum real to and entrepreneur, w'methods have help millions of people? Sol they cripg money problems and unlocked fin people like when sa this don't sa what sa theke, friends? I say what sayw people better? W there's a lot a people that laing financial education and wer ta study heart good, a good jab. And if you continue work and down that pat, you're can gonat become successal. Y most people I house to can off and totistbl i living paycheck to paychect impact that und prozen of America because ironically th diing that he som mony people poe for the rest of the life is there scare to look broke. So what the do the dram round and masr cars one better vacations to the mas res w i no long have money to save the no lon have money to to invest and the proble mist yo need a on million doars to com. Wow. So if you aren iy to dangers, so I do se don't have tw dollar save blo b emergency and you have credit connet. You have theig juastic changes today is what my day? W the person younow artad this a sieb bf team zehnplay, which andw last dick this lit little a bit dere and let talk about make and money i po mor money and f plases that is beroven to win num on fin increble fasciting spyle Audi chals the majo people watch this podcast. Haven y hit the follow button? Ou the subscribe button? Where are youstenk to this Iul like toke with you? If you do me huge favor. Hi. That subs button. I willk tsly from nowo forever to make the show better and better and better and better. I can to you how much i hopes when you hed no subscribe button the show ge bigger wht means we can expand the production. Bring yo, in all the guess you want to see, I continue to do in th thing we love if you do me ##t small fa hit the fol butsn wha ever you listen thing to this that wD mean the well to me? That is the ony favor o will ever uscu you. Thank you soy much for your time. Back to thepisde just preat who should car about your message and why shoul Dica? Anybody who uses money, which is everybody. The interestinin thing about money is we use money everything. A day i cast money to eat and a cas money to feet other people. Yur most to us ar never toat about money. So most people say money does a matter. I shuld don't thick about money. I shuld't have to wor about money. Money is bad, money is evil. When in reality, accos id ned eat and aosmerd did a feed other people. And when you don't understand that now you re theat one that's gon to be paying the highs taxes. You re the one that can to be stronging in the pay bills. You re the one that now canna view but a go a Disney world. You're the one the can't pay for that amazing gift fore your why fre your husban and you the WN they can'pay for the health cut Forur Parnce and you wonder why. And in a this economic system that we all liv in money talks in unless you understand that are never go ab Bible to win in the system. What is the difference between people who figure out how a make them soues? Well, thy and thoug is that don't if we put all objective at vantagges, asste rich parents, inheritad lotss of money, all thse coins of things, what is like the fundamental difference that se in from the many, many Hunger th thus the people that ev worked within to and I've consumed your content. What is the fundamental there? One difference, one key difference. People the become welalthy understand home money works and everybody us does not and ouoll you were ar came to this concclusion I checkd all the boxes I studed hard and school. I win to high school, i win to college as bet one yoar in graduateith school and thean a win toug law school. But i neveronece to learn the thingk about money. I never once learn a think about building wealth. I neveronece learnd thingk about investing. I neveronece learnd think aboutive income but difffuseion. Look the welalth yours people on the world. Thed don't get there by work in a job and getting arrase. Thed don t get there by work in a climb the corporate letter, the GT there because they understand how money works and the understand how to win in the economic system. And the crazy thing about that is wer al tot to trust the system. My parnents are immigrants. M State in Inia Cultlt B Job. And like many other traditional Indian immigrants they want thn me to become successful. Now in my house, that definition of success with very simple they ging me two options I can guess option number one was just you can be a doctor. Option tw was just breat. Yo can be a fililure, okay? And this i i good a pick w one and this is me when I'm lake one your old that sins the day i cod stare talking my parirs tod everybody ni just people around as th cald my family in India, my family allround the country that just preat is gon a group and become a doctor because he is go to become successful. Now I had nothing against THP because ou'want that become successful to i sow haw heartd my parents worked my dead if yo got a Saturday and a Sunday off was caniderd the long weekend. I mean, my pe is buster, but and now wannant toat become success. Will w give back to them and the tome me that i wannant to become success? W the where do that is buty becomining a doctor which make sense because wehen you re and school you good thes i pampolets, th carer pampelets and theis show you the different career options you have. And any time you look at that theat tougp with the list is always doctor. And so this iat just ply thatf you wanta become successible. You have to become a doctor. And because we came the TH country, you have to become successll. See, you have to become a doctor. Now i did THD cantything wrong with it because i liked the ideae becoming successible. So wind down that path. Now I al alng the way i realizet id did it want ab be a doctor. I tome my pars the'm knock can to be a doctor. M ma mom mus had a hard attack. My dad could and bellieve it. And so my dad essentially tol me theat just breath. If you want to keep any pride in the family, you have to at least become on aternney. So, okay, i w to law school part time. Word them m business full time. Now today i am a lacen attorney. Bhaut ha. Never worhad a day as attorney. And the weesh'never worhad as an attorney is because it just not worth my time. Andt is not where my passion is. And alng that way, that when i learned that were that this is ho, you win. Go to school, study hard, get good grades, good a good job. And ifu continue working down that path, theu weu can gonot become successful. But Ifu look at the successful people. That's not the path that defoad. And if we take a look at theat three things that ab build more weh than any the els over the lest century, it s starting a business Investing in real estate and investing in stocks. Ye, allongg my entire educational path, i was never that that more focus. And how do good you good job, but are welalth the people? Oue focusd done is how do w grow my assets? And that's the key difference here is well to people i woralking to own the corporate letter. Everybody us is working to climb the corpor letter. And on the next thing, i m to go back to what you sad asoe me that you don't have rich parents. Because most people assoe that you have to be rich. Iner to dos be need millions of dollars. IU need access to all this money. That'not true. You can start now with a 100 dollars ze dollars wuth. You haved get started the probles mostster was are never tod hi do do this. But unless you start doing this, you're never go a build wealth. And that s the way that you win in this economic system. So onhen go th ol of those thre thingsve ve just seid on toout stg business, onckout investing and stocks. And no zy tooout real day. Para curious in your personal story, that when did the penny drop? Because it se interesting in my life that key morments whe i got to see behind the carten, i we i say see behind the carten. I al refer to my friends when W with speaking privately say alverferir to is money games. The like the day werhere i so theis bill in as playing money games, th was I didn't know existed. And i was they welking my bout of welking and cool sen is or building whatever. And then i got to me ab bel lean. I got to benen time with im got to see behind the curt andno like allvao play this money games which kno beyuse has been told about right? When wasith the penny drop moment feu you qualified is aoa. Why didn't you end atat puing? Nop som something happened? Yes. So whennow was is in great school? I beganin working a Indian weddings. I played it drum call the doll is b yo be drum. That's w myies from in India. And i a play this drom at weddings. Donw my parirents didn'like thatd. Did this because anything that was not matter science was like you don't do this W I had to play this drum in secret, butout play ouat weddings. And i started the make a little bitut a money and by little bit a money, I mean, fünf dollars pro wedding when ou in middle school thn maybe your 100 dollars Tw hundert dollars in high school. And wann the Dj that was working with said just bet innowlad kids in high school? How abut we host ateen party for sommer? Th is kids inur school, OK? Why not so we hostd dist teen party and it was a big success andat the ener th night the Dj than seairch painner all the cost beig ha be we gon to go andify on this business venture. And then we payut the moneyul the security for the venue, for the marketing et th is as are i let count our profits. Any has for billsines is hand on to drei for there'for, singles lift two dollars for him, too dollars for me. And i saw that we pud'so much work into this business venture, into this idea, into this first party. And we met dollars a profit which we splitcuentacuenta. And at ne moment, heho was willy uet. But ou was really not abetet all because ho was like this is fun, you know, i i was s a lot a fun b in this together. But in my mind, i was just on th hobbieys thatt doing beca i need tip become a doctor. Well, i did to few those teen partes when ouw is an high school. And now it is time forme a god a college. I a sevente yours old and i g there and i see everybody partying, drinking, blowing money they don't have. And i was shked. I had no idea the people w to college, to party. And i had now idea I pele b got the money to spend money and all is alcohol. I don't drink, i'm t I'to party inck Beno ihen need something to do on Friday nights and so now I'm th can what W do how? But I take this teen party business concept that ahead and high school and now do it in college. So a siebteen and are anock in on the doors of all bars ven us restaurants, trne to seve anan youbody wuld but me host a party there. And in the beginning some su shur. You can host a party here. We need a dollar deposit. I don't have dollars. Our is sevente jar old. So i cap going somete siet iy need dollar depos iit but ventu the afound this one club that sery I yo can hoster party here, you know, got a pa anything just PA have of the cover charge that you generate Pezig. Whatever revenue generate. Now men business, i meet the same arrangement with my DJ. I sat look aboutd you DJ for me, for free and als split, whatever profits i make with you. And that was the beginning of my first real business. It wasit this party promotion company, which theann became an event planning company and a grow pretty big in college. I i starte id off by hosting theis. One off partes thnnow was contracted by one of the largest clubs on campus to host the weekly college night. So ou was host and ne partes ever week wee hosting official shows and after partes and a groupity large. And now as as business stars to make money. The first thing that a realizeized is, i don't need a license or degree to make money. I thugat that was somet in that i needd Beca at that I needed this good graates to qualify for this thing to make money. So th is the first count of shock and realization. The second realization that ahead was i neu nothing about money ou make and the lot but a money and ou is very fortuit that I started reading books about money and business. And i started reading this books. And the first thing a learned with the difference between in asset and aability, which w things i had never hed of the fo and asset is something theat putss money in your pocket. I ability is something the takes money ou di your pocket welalthu people. One own assets ou was bnanahoo liyabilities because ou was work in in this party promotion business. And now one to to look the part so iutt make a let about a money buy and nice watch make aut let about more money, but's some new rims. One my car bhautd an new sound system in McCar, but a new subw forom mccar. I mnow blow and money and all the is dome things to look like ou us rich when in reality o is ms. Make and aot of wer people rich. And then i learnd about this thing cald investing, which really started to obet me because i tughtw was do everything right and I'm reading this books that at talk about how everywealthy person invest in real stete. I have k now idea whah they means nobody in my family is a realisted investor. I never her a this concept a real estate investing before I don't know what th but ifalthy people ar real estated investors and iw wantcomealthy baby is should investord in real estated. So when i is, i'm nowws studgying to get in the medical school di as as st think that I'm going willcome a doctor and ou is board out of my mind. Beig out, spend all datey ten a tw hours the day in the library studing. And this was around tw tad andven. And the reason wh saey the year is because if your member zwei tan and eht wasith the great by nature crisis. That was when we ha the real estay collapse in America. So real estay price this were desimated and id didn t hit rock boder mental tw do in a 12. That's wh'm sane this. So zwei tausende. I'm studing to take the medical college and mission test. The MCA and i'reading this books talken ab how welalt the people invest in real estate. And now makeing a little bit a money from this party businessve a lo bit of cash in the bank. So DRK my breicks when I'm studg for the test, i stare a looking on the Internet websites of finance and the all talk about how real estate pri if hit rock bottom how real estates is beiing desated in America. And so ho il maybe as shed looking to buy real estate and soonee. August und 20 second i tok the Medical College in mission test i an August th i purchased my first realisted investment property. It was a small condo that a puse out of for closure i yow usurs'prior it that sold for a little bitut over 105 dollars and and like many properties a winter for closure the banks could and sel I and i is listed on sale forn doar. That is a total price of the kondo. So i cam in when an offer of dollars because I don't know what how this reald investings stuff works and we a bank a forh with the bank, the bank sa will sell a two for se dollars i trie in nego she them even lower. And the the bank seid that the hed another offro on the table. So now i is a biding war? No ha a pay offer. Ay, hegist invest phrase. So i se i'm willing the offer dollars to by the kondo no more. And the accepted my bid so purcha discount of for dollars up butn a fe dollars with the work and the ar rented Id out for 600 dollars a month. And now i start to question things why di knobody tell me about this? This kondo is puotding money into my pocket withon me havey to do som the beigcause i own this asset. Wer al thd to trade are time for dollars, wer? All thd to work to get paid because as what were tad to do? But wealthy people are out working for a bigger salary, that working for more assets. Bigca is thatking. Can the the pay you, EV? W when your're not working and that that shift when I sal that that really spark a fire under me and realthy made me angry. And i don't know why I got so angry. But i got angry because i th like IW was check in all the boxes i was doing good and school. I bust my but and school i was good to do. Aller right, things become my doctor and do everything that ou was holld. W what id did I'real last that those boxes whenn'my boxes? Who created this boxes and wiser this whod world of financial education that were never thht. Because I of this is how welalth the people build and growthder wealth. Why everybody is'not th this so onwhen make a distinction her. Are you saning noht in? W iat's a build welalth. People shitd buy house. No, if you want to build world, yo have the by assets. When people say buy a house, what is atat mean? Tom? Most people iyes means by my homeh. I want by this nice place for me a live, which is what most people do when they get, i be a money. W they take this salary from work and the they going by a house to liv in. And the they paint to the mokage. Which means that they are now building and asset. Rht. There building what maneyp people call generational wealth. Wh just wann to the biggest lies when the comes to money? The reason why is because your house is actually a money pit. And that's why want to the think ofver house as liia abity. But i want you here me clearly. I'm not thaning. You should Iedt buy a house. I'm not thaning. Yo bad that buy a house. You have to treature house like an liability. This suit than wining is all liiaability. This watch is a liiaability. My shoes are liabilities. Should. And up by the? No, i got am meure. I can a for them. So whenant people thick aboutoyina a house Whertd Dod, they think of. They think I'm gon a build generational wealth. I'm gon to build Woralth. I'm a pay off. And i'm gonnailable to have more freedom in my life. Because I can own this house. Let's go with the best case sczeenario. You buy a home for this cald dollars. You pad off and throw your lifetime. This dollar home gros and value to million dollars. And i you gonaye just breed. I show, yo, this is an asset. My house tripled Th and value more than tripled value. And i when a pass a down to my kids. So now, yeah, you kids got a million dollar house. But last thy have the income to support paink for a million dollar house, they mght have to find som more cash. Now what thed do? Because you can just pul cash out of this house, right? I atm i Less you god, the bank. The banke will give you the cash. Theca the banks sa oh, yo have a million dollar house. Howwe we low you dollars wut that not in ATM. Because have a pay that money back plus interest. Andw las your kids have the income to pay for the property. Tats to pa for the insurace, to pa for the upgrades, to pay for the maintenance and the moretgage. They can't toore that house. So maybeow the have to sell. OK? No, you selnt you got a million dollars. Great w noht iw we gon at talck about taxes right now. But you got a million dollars your rich. But if the don't have an, yo, financial l education and a million dollars. Wt's gona happen? Well, this stick about this. If you ha a million dollar. What? What you dot if I weant down the street and as the average person it buy Roach, you wul check for a million dollars today, what wuld you do? What a people goner say? I'm gon a god. The behaus. I'm by melf a nice house. I'm by mus uft on a nice car by myself. I'm nice close God. The guocci store. Good of the Louis WTO store. And b m sel the extra glack chaotlys. What the average persona do? No. Maybe your'lo more fin nature. Th smart you say i'm. Yo canind a livre of a dollars year betutve toy years. Yo'm not in left, not to mench in the fact that ze yar'some now that dollar are your lifestyles. Go about you. Have i what I can'today so nowt go back to that situation. You don't you build generation Awealth. You did a good thing. W pain of the mortgage be don'have to pay the mortgage payment. But is that really the tuper generational welalt that you want? And now to fully hammer this home, I'm. No thing is bad to own house. Is i to the very great? It'in amazing thing the own house to free and clear. Becausenow you can rest a shird, you know, have to wayout the mortgage payments. If you have of my nature of th education, that's great. B last talk about now, the real way to do this and build truewealth when I'm buy my reald investment properties and my property values. Go up. The rental values also go up. The rent is wha pace for the maintenance. The rent is wha pace for the upgrades. The rent is was pak for the property taxes in the insurance. The rent is body money in my pocket. And this is cash flow that I can use. I can use is cashflow to biobcation. I can a us. Th is cash flow to by food. I can users cashoug the pay from M lifestyle. B your house does and do that you have the pay to in the house. People think wenow the getting the Moga payments thating whatever theying on the mo pament, they think there we con at tol that that moga payment is an investment into una assat. Your mortgage payment is a payment to tour bank banks or are not stupid inf factor very smart banks do somet the cald front loading your mortgage. What the means is, if you go in got a thig year mortgage, which is butt many people do in America, and you pay dreiused dollars a montain your mortgage you not paining tand hun dollars to interest your bank and 1000 hunt dollars tier principle. Your equity, the way at works is banks front loer Mortgage, which means for the first almost 15 years, about thzehn years and acht monsters. So but for almost 15 years of your mortgage, the first f years, the majority of your mortgage payment is s going direcly int interarur bankers packet in the form of interest, which means thefu pay dollars i month on your mortgage. For the first part of mortgage, maybe an dollars is going ouder of theatd dollars in tear equity. The other zweid an 900 dollars is gon rht in tear bankers packet with interest. And now, ye after 15 years now have of your moretgage payment is going to your equity and have this going the interest. But if you refinace before that fünfifzehn your mark, that's darts over. And so this is wer banks understand the gain again? I'm nit against by a house, but to got a understand the mo game of money and most people don't understand that i so the musttake the people make is the buy a house to can of forord and ouw the pin all this money into their mortgage than Iu that I'm building wealth thed k no lon have money to save theatnow longer have money to invest into other real assets. And there money is is goant to pay down the mortgage. Thek it that this is gona build myweh wh you ben sol a lie. This time opportunity cost mot people thn't wwhah this time opportunity cost means but a pistd be very pus. And and what you saying specialy when you just said this is money that you cant than investin in assets, can you explain w opportunitycauses? And how is impacted if you if you buy house? Shit, if you have this is make to num is very simple. You want about dollar home? And let's i the banks require at down payment dollars. You can do of yow things Nr. One you can take that dollarsn gottm buy thS house. And now that'how that money iss be usedd. Butt if you use that money to buy the house, you lose the uportunity, deteke TH dollars and say us it to buy a rental property. You lose the opportunity to user at dollar to invest in this dark market. You lose yoortunity at take thy dollars in maybe build a business. No. The question is what is going to give you the best and most growth? No, holpey this house that you buy will go up and value's not garanted. We know th house is don't always go oppen value. No matter what your bankeress. No, w what your real estate agents as because we sal wha have and af theat the zwei tausen and AP crash, we real lit the prices wase slashed and have it was as mucht realte values dropping in the state a michigan. So wenow t realisted place a don t al was go ab stark place a don t al was gop business is don't alw was work. Everything has a risk. Byotthher question is which risk dou wanta take and which risk dou wanta tick. First, are you w a Situation? Now, w arure ready to wt in buy house or dou wanta build your welalth. First, I thet let i at more. And that a question that i one people disis are thinking is am my ready to buy a house and and people sta will if i go an investment money. The proble is housing prices keep go on up. I'm chasing this housing market. Eees geiting more and more and more expansive. And your re hundert % raigte. The risk BH is also ris. The housing pre gould fall. I thank when the bias is that makes people want to buy house. Is that theat currently renting? And iy se th I justgiving money away. So they think, listen. And i iult spend this money on a mokage. And all ll owlnest thing. One day ar ar it spend this same twnd dollar whatever thy on rent. And i'm never gono in this thing wel. I'm hereu in Los Angeles. Wht now i distiny a hotel. That hotel payment is pink somebody mortgage. It's pink somebody college tuion. I'pink for somebody stuff. When i god or restat and i eat out, i m pain for sombody mortgage. I'm paning for somebodies college tuion. I'paning for somebody bilulds. Because when you go in your rent, that evvererybody salls, i am makeing my land Lord rich. W when ne atat a restaurant, your make in that restaurant owno rich. When you god hotel, you make the hotel owner rich. When i goant buy a mug, I make in the mu owner rich. And the reality is, yeah, is goodfried oun house. But are you readydwnhouse? Can you for own house and wohauld do you want own? First i rent wh i liver iht. Now i make in my land, Lord Rich. Today i also rent w my offices, i am making my office land, Lord very ranch. Because my office rant is very expansive. Defel bad fr me, I hope not. And this is where we have to get over these money meths that many People keep selling you. That you can t build welh if you red w you live, you can't build welh if you don't get a good degree. That's not the way that the system works. See, there'is theat traditional rules. And undre is the real financial education. Money rules in again, i'am m not thing is bad ow house. But it's bad to own house. You can t toward how you knove, you can aard one well thre the parts to th and house. Yo have to for the down payment, yo have toore the monthly payment and yo have to fo the movement cost. I'm go start from the simples one which the movement costs becas many people don't factor this sint wehen. Yo buy house, you got a moveing. And i m no at talking about the the closeing costs you mind have to higher rem moverss. Wh are expensive you mind have to upgrade the furniture, which as expensive you mind have to upgrade the house, which as expensive factor that in then i want talk ab wut you down payment. People don't like when i say this, but don't say what i say the make friends. I say what i said how people be better re wit money. If you want of th the house, you have to have at least a 20 % down payment. That wt you actually have some equity, some skin in the game that we you can actually a forard the house. The third part is, you have to ford the moley payments. Now every bank is go to have a different rule for you banks haveigke the rule and this other rules i have. So just on that lost point why the people not like it wulhen you say that because is very hard to pay aanzig % down payment. Housing is expensive you want by dollar House, you have have dollars as a minimum pre down payment and ha extra cash. Okay, now we talk about the mothy costs. The simple way that like to folwt is you have to have is system for yourself. You have the know home much money you are allout thependend. Home much money you need to be investing, and how much money you have to be saving every single mont thn just facted in. So the way i like to lookt it a simple rule of dome. It something like a se sietenenta y 15 ten planin, which saes for every dollar that you earn from here are not se sietenenta y cents is the maximum that you canpendend. 15 cente is the minimum that yo invest ten cente is the minimum that you safe no tht'do the math. If you know that you make this call of the dollars year, that means the max sek and spend ouder the dollars. Is sie Dollars? So if ou th that sieben und sie Dollars. You can affhoard your mortgage costs. You can af for your food, you can aff for your vacations and lifestyle. That should you can afford thT. But if you can't toore that than you can't aore that mortgage. And a reason wh like to go by this rule is because some people organiz. I can live in a small house. I just want and expensive car and som niize vacaations. All the people I ag say i wanta beautiful home. I don't care ab but the carn vaations. So now you can faacted allerre. How much can you fort oue that setenta y pzent what you make? You think people le know how much money they spend? No, i thinking oant t have mey people listening right now. O mon. Exact figure that they every single month most people statisticay are living pay the payck. Theyth more oknt of Americans ar living pay chk to pay chck. Which means i makes som money and a spend alot or mor th th'a joke that a like to make, which is in the traditional Indian culture, people make a dollar theendanzig cents. In the traditional American culture, people make a dollar dispendend two dollars through the help of Lionsce a credit credit cards andther forms of det. And the reason wher I'm to tick is dep back. I don't dike. You want in be the go this way will nom to ag go anywhere, anyway, we live in was call aredit based economy. Which means, if you make dollars year, you don't live of a dollars year. Least most American don't we live on was call a credit based economy. Whaich means you have the ability dispendedd fünf doar you earned plus debt. Because as you make more money as you have a good job, you become more credit worthy. And so as you show the bank, he i made VIPN dollars. Don't dev beu credit cars t give yo lice at credit. T'll give you whatever taes the dead that they can that wehen. I go and spend sec se dollars, because thats. Wha groose the economy? The more money usu spend the Richard sombody all kids. And to now, when you live in th credit based to economy. Wul no financial education. People spend, spend, spend the economy, gros, gros, gros. And most people have no ideaa what hit them knoly in is. Todays i was ha compversationh frienall. I did a podcast about financeently and in there mantion som my friends und and they message me whatsapppen we having a chant group chat. And i the first time ever wann the mo me to geess. Where very closed friends we talk about money. We talk about much money we have, etc. They at guess who has the most money in the group? So i when threhen i did, i this is of my f bes friends. This isw much cas they have now of my frien w is very what'wt? I guess frugal lives a very, very simple life as as going throord. Nowa this friend is this like you hih Lin Guy Li in is amazing apartment. This put and has will this wonderful things, this pass person been successfuln business. This PU person successful in crypto. But Yonow i bad M frien in thet. So my litt prediction, i you go figure and he go. This is my curren cash position. He was Richard thn everyone in the chat in somes of cash comb this guy live. So Heica Studio Portman, he nevers't have li fancy card, doesn t have fancy. I he'Richard Theile low of my friendship group and ihod calt they something really important here in time ofve. And it so crazy if you know the context of what I'm sang, because I'god a friend in not chat ws bok like a big business, ive god a fr like ever not chat runs businesses is is successful, but the living and different ways, i the one friend who run the smal liist business you like probably hos the least income is the richist last days. Say fun. Think about the di th fing go m k. Yo, oneryth, this is realy i we agno your friends it very easy to look fake rich, because everybody will give your line a credit. If i want a gucci person, Ike can ofore the gucci, guess why com buy now pay le. I can open up a credit card and by the gucci and look like rich. When in reality, i m yo making goo you rich. INfCT one of the Richard people on the world in 2020, he was the Richard personal. The world is Bernard Arenold. The is the bounder and CEO of LVM. He is the bounder and CEO of the company the Owens Louis Ofton. And why beig is millions? The people pay him to look rich. When in reality, he'the one that s giting rich. And we asse that when you makes som more money, you got as are look in the part. And this is that mindset shift that we have to make. And you knoww i ll loer people residente who comprom the Indian tradition of families. The message me thing just breat. I behame a doctor ore my wavay on i ar doctors. We make hunderts of dods of dollars the year. We make a grede income. B we have no savings and no investments and i don'tnow what to do. And the reason whe is we have a range over and a bans. We have a nice house. We go on the doctor vacations. We have the look theart. B we don't have any money loft over at the end of Ar Paychex. And it's a very easy think diot uen, because when you make more money, you become more credit wherh they banks. Yo give you big alones when you make more money, you wantpendend more money and is very easy. And you have to understaine. How do you control? That's sping I that why ifu fallw something like sie y th ten when the simples things you can do to start is is always no matter what weher ar you make in dollars year or ze million dollars year. You alwoses wut money usde to invest. You alose moneyde to save and you spend whateever is left. My friend don't invest the frienomm talkening, but doesn t actually invest. He just doesn t spend he like this doesn't spend money and he just stack up the loke a em million dollars in cash wasst earning less than everyonehen ho over my five friends in not chat. And i it's at did't take a long time like it to him for yees. So something fo five yes, ive ve just running this small business with the couple a people. Wann i save a small business? I'm me no really lock a small business. I a business have may before five employees. And he is bul top a million million dollars in cash for himself. Becauseita yo thes'by money and he heesn t half like it. Any go doesn't car of w people think of him. Ya my other friends you running maybe five times more month. Have five times less cash thin him. It's so was so inspiring. It was onnes see so inspiring. Because it it'sa something abouty impulsive saving. But who the hell wants to save? If i title Thispo Ghoasty this something about saving? No onn'going. Clke it not fun. Saving is in exciting. Who wants to go and save tw dollars? Who wants to spend last money? We want to by more nice things. But an lass I control the spending. I less, you know, had a save you w never build wealth, Jenifer. People, the all in that pay check to pay check cycle, which i was in for manyy yesf. My life wher are are get paid for M call center. I gun sp the money on the pretty much spin the money. With the first colety days i of getting the payjack and waiting the nextor weeks for the next payck. What advice whad you give them about getting ou that cycle you imprid by that cycle, if you re and before give the advice, I wann explaine to that Person. What's happening? Because you are the prime customer for our economic system. Banks love you because thy can sel you payyans. Thd can sel, yo credit cards. Di can sel you lines a credit and th can keep youan dead for the restive a life. Which me you keep making the bank. Rich corporations love you be you a THK twice when yo th nice sh, niceca. You go want st and we love you. This st the government loves you. Be casuse you, agnna. Pay the hihestd taxes. Employee pay the hihst taxes. And so, when you in TH situation, you are making everybody else rich a your expense. And so if you wanta breakout at TH, the first you jodanta, you need to make yourself rich before yo make everybody rich. Because when your spend and allivever money, you were puding in your money into their pockets, and you have to stop that you got a keep that money fy yourself. You'in a boat dick about this way you in a boat, and this boat has water just flow in in and you wer are sinking. And you got a start by cealing the wles, you got a stop the water leaving this, you got a stop the watercoing int, you got a stop the bleeding and you got STP dispending. So if you aren what I call of fin to danger, on which yo se don't have zwein dollar save up rn emergency and you have creditdit car. That if you are in that situuation, you are in the Byina to danger zone and you have the big drastic changes thatmins right now no mor eating ar restaurants, no more vocations, no more doing anything that does't put money in your packet, and no more Netflix noin and the weason. W say this isn't because you re gon a save fünf dollars a month. It's we we can save two hours ev. A time, a day. The average American is watching more than two hours of television a day. And if you don't have tw tausend Dollar save up. If you have credit card debt, you cannot a ford those two hours the day bing a wasted on TV and Theminans. Right now you have to go out and sae us in the time to learn sae use in the time to work and are use in the time to makes the max to dollars. So what you do start selling stuff stop spende money selling stof. You own stellg stuff, you own sof. You have a TV that you not using solid. You have a card th you can forard selid if you liveing and a house to you canard selid downgrade move smaller and then wt armoy money go sa the co things the to is you ar no and fun i i put melf in the shoes of ve yo Stephen btlett whenw was in that small appartment with the immigrants in most siide rush home and w you know my renith nothing my ci hun fünfif pounds a month whatich i couldnot so food and iuld not pay. And i was intimtly working between call and to jobs and whaver money. I go i and part the is sp just pre is because, like many people watching specialy men who someet times feel the need because of the ways soci society is. I was trning to get latet the same time and it's hod when you a young man onayy young man, en particul, Beca the stats do support the fact that there is exp expectation, th men pay when yo re young man is partikey difficult to do w a thse things to cut back and will so get late. And what m gona yo tofgetting late for tan when i say late and really saying meeting someonee and falling and love and having a life. So what do I if I if I'm living in a shebox, wh i was, i coming an the yo want back that I can't take an IU want t fit inner I can't take an. You want to the movie? What doy this is? Why every Indian parents tell the kisted become a doctor. So there son cant mered the same concept. Be bee the think ha the and you ha s more andu know fe talk about balance. If you want toa have a balance, Eve, everything where you w find a girl and you want to make money and yo want stay healthy. You are dividing your attention everywhere. Tht thing is impossible, but very feu people can actuy do everything all at once. And if you re number one goal to become welalth Theief, yo number one goal is de turn your finance around. You have to get serus about it because weher are you. But your attention ist willd do you got the results? And so if you want to be in a better of financial situation, you are gon to have to make pschrphes. And it's difficult. I can comeer an intell. You is gotna be easy because that gon ab be me lining to. I god bece i did make a sacrifice and for me the sacrifice worise i start a business and frankly that that I didn't have time to be going outtting late meeting people socializing but it'st my sty yok and with it going well and than the romantic situation taken carvt self man her is later once it it gone well because i was soy focus to myself and it's funny there is a bit of a paradox to life that the moe you actu focus inould the more you become a magnet ##o on when i talk abuil I'ming money hungry, money greedy this is evil person that just care about money that's tnow want't talking about because i want you deliver whole liistic life because money is just one part for life wh the second part to that i I'm not helling you to never enjoy life I'm telling you to make a sacrifice for a perd of yo, life that we yo can enjoy the rest of a life for never have to way on money again. It's hot. First the naturally se life a seasons special w looking forod when m looking backets very easy to say that was that season loke I can se here and now and salye that tw w that sacrificy everything in my life to make myself something season and theig was like building and learning and i now ##Uno think it's eas yo actuall now tok for season noatve bint th som seasons but a somone ha't bint thug seasons and life it's hot the think about life in nos times i now think of my life and is f year seasons and no hopes meetas satu. You even have conversation, my partner, w i go this is the season in on men and all lost, probably rougly this this long and I'm gonna sacrifice th things and ths in season itt peopat difficult and that sacrifice is difficult a spialy during a timee everybody sho evything on instagm. Yo look at your friends who have a crappy job but the drumround and nir carse going on better vacations going to the ner resurants. And you think you whatd it? I do ronk. And th specialy if you're a guy, yoe a girl friend, have a wife, she'go say how commee the keep can the keep geit int to go to can't coon they heep going to this nice resurants. Howm me, you can t take me to this nice places. And i you feel like you don't some that wrong, because where is this disrepacy? The reason why I call my show the minority mindset is because I'm big addverkid of not doing with the majority people do the first homime a made a million dollars in the year hovers in my twanzig ho drum and a car worth fünfnt dollars. I didn't have a bumpern it. It was noty my wave saat and theat car with me and my emploes drave better cars unite did. So you know, you got a be confident, and you got a work for somet and bigger and you want apartner. Th's go understand that th is my belief wich is not easy thing interes THK is confidence is suhay in town? No thing just fe, just pro t ha th ik co was is sc for som enter romantationsip reason, w i so many people we going to dead to bu inv vacations, to buy things, to buy stuff, to look rich and ironically, that's the ke thing that keep so mony people poe for the rest of the life iss beuse there scared to look broke. And now when you try a look rich, that that thing this actually keeping you broke, theis another element to this, which is my life wit. Pretty miserble. Soy when you have a don th being hom walking the anything th give you lit do her gambg. This is wh the gambling shops the ar thatck the west financy be thys i me a loer people save be thys people looking for that, you know, that big payy, that dopamin her fromyy my TV in my tiny, tiny little betd I room was like the size of the wall. I was making reckless spending decisions because i think it gave me some he that i was missing in my life. Ie me like a dopamin rush. That was und i was't any things give a me a dopamin he i that wn in my life? And see here a thing drin that time you are maing emotional decisions y as many peop and is very difficult to speak logic to emottion. But this is where now you have to be buld. Understand the difference? Because ifuel listen link to this in your in that situation you have to understand. If i you want to continue beenle to live that lifestyle, you gont have to makes on change THS today, other rise, you gont to be stock in th lifestyle for the rest of a life and is only goin i GT more difficult. And that's the thing is if you wantantome welalthy the first part is just your own mindset. It's your own discipline and un tell you can conquer that I can tell you everything about investing I can tell you diffent ETFs and index once to investing i can tell you different investment institutions ou there I can tell you which stk brokerach just use I can tell you just investzententcoe to this forh the nextuse dreiig years and you'can gotna abcome wealthie wut. Tell you can good orway the mindset, yo, never go ab amcome welalthy because then we happens in that situation is when your re in that state of i just want to look rdich i just want have theat dopa mean hint i just want to have som noce things because i deserved i wer had you k w have tos next? You re the we the getts cut ut anno the GT rich quicks schemes beca somones canna say look but a thusnd dollars into this. You have dollars in the next drei month or ar michual. You can live the laptop lies style you can work five hours a week, make dollars am month dollars a week. You're never agin have to wor aboutoneey again just buy this program and i you ar a prime candidat because now you were driven by this em motion of i want that I can't imagine i i had a next i dollar a month and i don't yo w have to work for it, because you can't see paste id you all you dot beng sald by emottion ##t you? You re the one iskind a cart up in the GT rich quick schemes. You re the on thiskind to make the bank rich because you can g stay stock in dead corporation Ag gon love you, Beca they can keep sel in neu the nices that ne wit stugh, because you want a look rich, want a short of tour friends, you want a shoort art of to the girls and you ge stock in the cycle, so i want it talk about with the money minds, i is bit just, or? On that thing you yo set thy you said get rich quicks game crypto. What's your pointview on cryptocurrencies and investigg in crypto? Sal, you wer ar re bestment money. Seconderstand appled my money and f PLs appled my money at to my onwn business investment money into real estate investment money. The STKs investment money to speculate dev assets, which includes Cryptocurrncy. At theat, i own some physical gold, so stratege own business, I run a competycald briefs media wee probably most known for oure market briefs newsletter wuld we break down was happening in the financial markets. So that's briefs. Media number zwei is a investtor physical realheelstete some go not to by rental properties theat i can used to generate cash flow number i investinds stocks. This is in the form of investing in individual companies and investing in funds, fonter, ETFs, index fonds, mutual fonds where you can ge investment into a broad basket of companies. Nr. Cu is my speculati of investments notices how was is atat number fo this is we in this smalt pieces now, which are things that I believe can gob very quickly be can also fall this thfed. So the speccululate a assets wich make up a small pie. My portfolio include thnkss like startups thanat investing it awe include things liy, cryptocurrency and thean I own I littleout a physical gold physical gold max about twt de m portfolio be gome b to cryptocurrency because that's what you ast i th. It is a speculative investment. I have may day town of money in and cryptocurrency and i sae a buing cryptocurrency before it was as popular as i is. Today i begin buyinging in SEC or so when Bitcoin was around, maybe tause SEC zwei tausen siezehn. When Bitcoin was around drein dollars the coin and i have sout some. And for me, i understand, i can go very fast break and fall justice fast in the issue that i have is on people now want to gt into this id of investing. Because now there in this top situation I'm theving paycheck to paycheck. And i here about this financial education and investing. If i just dot my money int to bitcoin or crypto baby little tenx, and i have financial freedom. And that's where i have issue because your taking your money and your re going for your long ter investments int to speculated devva id that hasn't berovenven. Maybe evle workle become a multimillionaire. Maybe you lose everything, but i don. I t want a gamble with my wealth. I want a build mywealth wit something established. And then use a speculate, a assets, a something that is speculative and tredeed as such in thes of you net worth th. How is it broken down in Thomes ofcentage betweenies f things so freel look at real. Real estate is probabley closed to almost 50 % of my investments. Stocks make up probay rideroundt speccululate is about ATNT in mon portfolio. So just theigt, how much isn t individual company stocks vs. ETFs? I about have and have OK'fünf? Mnt each OK, cool and and spectculatives butnt. And how much yo thutat is like crypto vs. Start ups. It was a lot more crypto now, i is lot more startups. I sold a chunk of Bitcoin when i was breaking record highs and theat. I w ab ususd that money to buy some renun to properties, OK? And gold. But twozent de m portfolio than. And the reasm why at buy gold? I don't myself don'tca gold and investment. I look a gold as a way of saving hard money. Beigca is my theory is i by tick dollars of cash, and i tick dollars with a physical gold and a bery bol. To this things i a backyur today in zehno years, what's Goinna have more bing power. My theory is atat the gold is Goinna have more bing power. And so that why ar own some physical gold for met is way of saving hard cash. I look attt as a insurance against doomsday agains somethy withy bad happening agains something bad happening to arre currency, somethy bad happening to the economy. That's why I own a litera bit of physical gold. Buth the promm will gold is when i all my visical gold, it just sits there when a vault, it is't produce cash flow. It ises't create new value. It just sits there when invest in real estate. Et produce is cash flow. When invest in stocks, the companies ore working to produce a betutter product to growth the profits. The gold doesn't doany. Think w abut cash? You keep aot cash on hand. Cash is death. The precision I don't knowout percene. B i ar al was keep cash and i want break this down of few ways, because i have one this call it buck it of cash, which is my emergency savings. This is cash that is there at to protect me againsting emergency, my personal life. I als have a sep super bCket, a cash which just is my business emergency savings. Then i have a bucket, a cash which just there too be invested money. This is money that's weaiting to be invested in real estate. And Thean i have, and stocks and Theanno have anotthher little piece of cash. This'weaiting to be invesd morn to speculated assets. So have cash weiting to be invested in speculated assets, cash reing to be invesd in real estate, cash reing to be in stocks that i ha my emergency cash so iaratet. A second go you sat that en lass. You have a money mindset. You never cannoalthy what is the money mindseat? The mindset is num on. You have to believe that you gonna becomealthy. What i like to say? As you have to say i will becomealthy. Why? Because if IU don't believe you gonna becomealthy, it is go to be impossible for you. I is to guest to teach in detroit public schools. So Detroit is. It was a very roug in a still is rough area. Certain parts are office is and downtown Detroit. But there are part Detroit which ar still very rough. And i toe guest teach and somemer the public schools there. And thee are kids, good kids, who were not expose to someith the best things. And what i am mean by that is, when I ve I goingingo this classrooms, youuld first have to go to to multi model detectors that be police. There youd have to be pat down. And when I get into the classroom, I as the kids how mony, you have two parents in a home. Almost nobody would wise the hand how the as Howoney you work a job, almost everybody wulhd raise the hand. And as i got to know the students better i als to hed to realized that this kids, high school kids, somemer them'ar art ganings. Somone the ARTD have been arrested by the police. Some of alderdy been involve TH and TH. Wha we considerer bad THs and they are bad things. But to the kids, that's just normal. Because when at talkting about thisse gangs, what di'll tell yo is i don't have parents they home. I don't have a ded. I don't know my ded. My momm is working how m gona eat my brothers? This ganing provide me some comort. Because people that around me, the give me food, the help give me money. It'not a bad thining in theirre iyes. And so when you group in that mindset, it very hard free, the think bigger. And so whenw it comment to this classrooms our at talk about life, motivavation, money, all things. And so wder the things that like to do and exercise that that wuld do it try to gt you the think about successful things. What are things a kids want? Iy nice car. So wha, as this kids, what is your dream car? And the responsors that ie willul get wh things like I for mustag, ore, dod, challenger, and yo th the nice couruse. But i would followut wulh we not a bugatti wy at a lamborghini wy, not rollse royce. And they whatd say somebody like me can never have something like that. So i can't event dream about haveing gees nice things. And that was really shocking to me. I that you are can suppressed to the point whennonoly, do you not think that yo can achieve it? Buth you can ty dream th. You can achieve it. You cany w achieve it in your own dreams. And so when you don't believe that you arward yo ofhenity more than a fort Mustag. How in the world are you go a work for somet nicer? And i'm now thing yo have the work just for materialistic thinggs. This is that mindset shift, that if you don't believe that you can do it, you are never go abbele to do it. And so this is wher th. The first thing is you have to stay. I will become welalthy. And sometimes yo have to be ab be of find a taste of success and see wh that looks like and there are manyways to go but do ant I'me new can just go on the Instagram and see what success. Look like some people. But you sorted defined. What is that success? An teurs of of i will become wealthy. Not that and might not that i can, but i will becomealthy. The second thing is money is a tool. And the reason W i say that ist because we been cant of hinting at this thaugh, this ent tired discussion. But the reason why many people i so scare th talk about money, the reas wt money is i to tabu tabk because we are instece aboutter onw money ie just wose. Thatfore We carroen on the money is a to point is surve. Interesting what you sang about the kids sa interesting, because ou was thinking is you speaking about stere type threats in my previous bookye, i sp somet time talking about self believe and confidence. And this ide dear starey type threads in summer the studies, i came a cross shoot that if this is there or type that people like you, that's say black people like may all bad at a certain thing. That's say maths beful they do a math test. If they remdd a black person that they will black, i just got lim to take a boxingying that they will black, they performance ony not test W drop. And i did the same with women. So i thes a stayr types ar rounding your re ability. And something if they remind you of that partt to you before you do a test, your performance drops an really importantly in the studies. When they don't rem the black, the wo about that feature of them sou that performance is the same. Is everybody all and i interesting that you say that when your token about money, that we have a stare type threat that wh we exist in a worlds, what we think people like ust make a su amountain of money. And if the starrer type threat studies a true that means that I'm gon a shppin world. And such away, that's goinna. Bring not i amount of money about, but i's no easy to genuly believe outside of your starreot type on hundert % outside of the context them. Wh you arraised? Ie i want undercover in a school in a gra ara in Liverpool. That is ding very poly. I i was onercover is a school teacher. So as getting to know the kids I and i mett this one kid and I'me him sag to me about has plants for the future. I i saer as it you no any milliness. You sake now this note. No milliness round here. Als i have you havever met on, he goes of never ever matte on. I not moment. And has mom wich. It's on video a channel for documentted. He thank gotd by think yo want to be a million. And his mom busurst out law thing. She besondern the sofe a next to him and she bust out law thing. And i meking her and camr thing why you low thing yo go. No th, non. So it's like indoctrinated into yourxt your family, your roots, your friendship, networks. Thy you can't make it. So it's had. It is 100 % difficult and it disesn't stop in any level. If, for example, when I tome M pairs that id didn'want to be a doctor, i was hold by everybody. I'm drum my parent sacrifice away. And that somly like me can never make it in business. Pecacase. I don't kno when itthy m business. Now whenant my family is a business. No, my families is and investor. Now onhen I my family does th you never learn this stufff forore you dond't neketdn int a business school. You, how are you gonna do this? And i'm. I sae this to compare. I'm sae this to explain that there aresoany levels to this mindset block theat. If you can not breakout this invisible barrier, you will never become successual any employee joint my team. The first day, we make every employee, every sine on regard us. I a role do. This exercise is call the nine thats exercise in yo have th is nine doats on the screen. And if you good google, you can see th theat nine doats exercise or nine thats. Trivia, wer's? Nine thats wt the screen? Yes, and I'm noke canna spoi it, but I will actually wel get it arosss. But the wait that is exercise works is you have to in forur lines, touch every on the screen wit ouut pickingp your pen. You have to touch every doat, all thse nine thats withhout picking up your pe. And so when yo do that, yo meys w that'it's impossible. How do you do that? And so this is werhere. Now I okay not going over previous lineightd. You can over previous line, but you cannot pickp your pe. So there nine that, ci, ths, cu, cin, se, sie, oc, nue. You have to connected all for thts are all nine doats with fo lines. You can't curve the PE and you can't pick up your PE and people. W say this is impossible. And the reason why you sahe impossible is because you veve just created and invisible barrier. Because now if you go outsde of the box, if you extend the panel a little but further, then you cas are to connect all of this thats and ie yo realize oh, it is possible. If i don't create this invisible walls, run myself if I don't bt melft in this invisible box. And that what we do were all condition to do this to se some extend if you group and poverty, i m be that you can never become any level of successful if you grope. Thank you that to gon big be this think I. I be that you can never starte a business. You can never become on investor if you have become an engineer. And now in yo thirti'you, want to go and do someth in different. And might be the somedy like you can never do somet in different. Buth Theez are all invisible box you see at right there. And that is. That is why we make every team member, every employee do that on the first day. Because what we say as look, we got iome her in innovate. And if you want to bele innovate and do something big, you have to get out ofvere on mind and you have to beablele to break out this invisible barriers. And so now when yo go by to question is very difficult. It is difficult. And so how do you do it? And so this goes int to know your personal development. What ouw itd recommend is go reive books on self development, personal development. And really now try imp this things in toear life. Because an tell you can start the think i little bitut different and i us sor to see the world a little bitut bigger. You'never again a bel boo achieve the maximum level a wealth that you deserve. I just gon on Google and found thne dots thing whaich have god here is is thene dots you got it? So you telling me have god a connected all the dots witut lifting at my pan? Don let me try. ##ly you can curve canl for strht noteasye Aok steen so i mo people do thet go like this this now we freez u beca i don'ther i can go next but the way that you do it is we go no break the invisible barr soemere do knowws I'm a start the same WD did before but a sett of creatig the same cut that id last time I'ma break the invisible be yo go lib a further down and now i'w no come up like this thn. I'mn no go this way and then I'mon a finishit up like that you break the invisible barrier. You go beyond what you think you can do because your blue past, your own expectations we have this invisible box around arurselves and this is wohad. You wanta bele to break out auto of this is that mindset shift that you have to bebleut to make and that the first party becoming wealthie when you too toout invisible barrios, it remunded me a video that actually changed my life and it was is a video of en some people of had me talko about this video before this is thevido ##o and the get sh andycl and the now believe thatpd in the circle. What it does it g run in Chec the Si the circle i th th tra we can seed that that circlis a figment of its imagination, right? I when I see this, I thinke, my God, we will got this witve imaginery cycle jo round THS and the I watch this video of a spiders W they conduc the same thing with a spider B the key moment in das Video that rely SPD me is the spider is currenty, Chad by this peery but in TH video, this a moment wher the spider accidently steps over the PE I when it steps over the pen, it can never evver be CHP by the pen again your sE I in a second, it's running tood the so this is like a an imaginary barrier when it's mind and I Id is spring for a little B this is the moment her we i gu wowke a realall I things it's a real and I gets two tie here it run saver and I can never be toped again I love that beuse. WCE you break it, you canp. Yo stop death to that you realized that'in ilusion? No was shping you the whod time. And this can I feat thn what I'beIN sang about. They starre types für me when I at a very young age, when i was abable to make my first money star a business or tan and iar. And to a thing, no put money my pocket that alusion mis bro, the illusiond not the uny wigays to become successal. USD the same thing was to go to school. Get i gree, get a job. And you, you can't unset, you can't un learnt. You can't ever go in fallo that same traditional path in do that again because you saly other side and un tell you good a taste of it. You can ab be stock. And that's were again all success stars to the mindset. And that sa willcomeh thatnoing thatuy somet. It's not to say that i broken out of all of my psychological bares. Now I'm just in new One. I'm just in the newsse of Barris. I think that I can be. I can have ni figures. I probably din't think i could be a billion. Whatever at this moment. And olive us no mat houseess. For we think we are ar in some keine cyclo. And every stage of a life youur re ins some sorord a barrier. And you know, everything that to do now has to because the working to shwkers of when I started my YouTube channel ikindt of funny. I did't start my YouTube channel thinking thatt was gon ab be big. And the thy thing was i alw that thy thought big. I think big on mn start a business. It me approve everybody wrong. I don'are my YouTube channel to make money. This was can ab hovey for me. But I membember and i leve it this now i telld my brother when i starterm m YouTube channel if i hit on subscribers, I don't know what iver a do. But if by had a million subscribers, I'm a shot my channel down because is no way. It's impossible that my channels gona hit one million subscribers. Th it it this not one million weirdoses in the world. There ie gonno onea watch this random gu YouTube tak abo guacamoli and money, right? And the funy thing is i stared a making this videos. I started enjoing making this videos because i starte talking about the things that i wish somebody what ha told me before. And people'ared a watch and people star id to ext to the enjoy it and shed with the friends. And then we had a subscribers and I could't believe it. We hit fünf subscribers and I could and believe it. And then one day we hed a million subscribers. Brotheresner, membember, this promised bux thy don't onann shot this down. But the be continue growing. And here i was this guy who would been successful. I marty investing and real estate I'hes and business success. I broke out this idea, becoming a doctor and started a business. And I'm still putting this limottions som m self that I can't start a YouTube channel. Why dond I do that pcause? I had never done that before i never seen this happen for sombody like me before. So i is there anything practical that someone who's currently trapd in some coind psychological barios can do practicaly to help the be more expansive with hove. I think about they life what I do and I don't know. I recommentainybod y el is i'm a little stopber. No m no can prehed with. That is I do things to stick out and be different. So what i am mean by theat, I'm do go back to wha is set before the first time a made a million dollars in the year. I thught originally that out be flying and private jets and ball. And out i don't all the STF, But I new that i want id something differentul. I wantant to build this wealth, but I didn't want tonow. Start living like everybody us, i wnant to do something different. So i can continue living small. That's wh I can continue dragive and arund in this care, because everybody question what the hek house doing people? W wodering is just beate actually success for th is Guia howake is just breat broke Canu, not a fornnizer car. And so i can tno puok mus up in this position of lake, hearing the stuff and wantant to realhy you be talkt aby confidence. I want to really build my confidence to beat thy personaly dislhing different. I don tnow I get joy ou I'm a weirdo I get joy ouver. That when iw grg a wit a law school, I tale my dead before i grge yo a wait a lot school, even before that I'm only doing this for you. And so when i was my graduation day, everybodye, you were suot tie and you can ag gein all dress up to go. I tome my thad look, i toesd you, my git, you theat diploma wutt i m, yo, do I my terms, so i decide not to werhere suit, i decide to wehere a very traditional when yo be outfit col a cortapayama, wh yo say, a long shirt and pants and awe traditional discod and jo be yo, team meing Indian shoes for me, i just want to do that because it gave me this confidence, and, yo, I mean people was say what they hacker you, wn? But for me, I needed that burst of confidence that I'm doing this for me and i, i get fueld by people questioning me and you have the fine w fuels you undot. First point of it's my juicy to become wel fait, yo also in YouTag on this ide of Youcome welalth them not a big bannd of this wooo ide of I'mcome. Welh the welcomeh, yo, ies, no hable works, b what I do believe is you have to keep or mining, yo, so, and giving usurs of the motivation and disciplinline. And the beginning as to why you started some fuel as to why you started so woter things i like to talk about is whatd is your why? Who are you do in this fo? And so in our office, everybody has next to their desk this tagboard readyoul pictures, w whatevere my be to remd you of why you re working heart. And in the beginning for me it was ou was pist off, i want a proof people wrong and our was angry and I don't try a cuuse on camera thatugn what herve we go. Our was angry and the we som how was angry is because when i mad that decision to not beco m doctor. The thining that ou us told was I'm thne away the sacrifice them a parents made. And i started a business at the time of work in in the e commerce world. And i sheted a sacc company. And so then the common selll we get was so just breed. You will gon ab become a doctor. Now your selling socks is is ver just real acccurring. Just like you ge up your dreams, you ge up all the sacrificeses that your family did. You don'ty when appreciate the things the sacrificeses. And now yo just can a sell socks on the Internet. And that wit my fuel because i new, I don't know how, but I neww is gon approve you wrong. Toxic view, inder pront. I was just ang pure anger. I m can app prove you wrong and slowy the business art to grow. Ie be seen an TV, an ally thing to happen. And so i was fortune it theat m business also flipped thean now I'm not selling socks. I'weunow building this financial media Company briefs media. And now for meets, there is a purpose for what I do. There is a lot a people that a lacking financial education. This is s aot people that ar working wthy heartd. That'no idea why the can'build on yowealth th theat keep here and about how people are becoming. So welalthy investment levels are sky roketing bilionairess. I becomemeru, Veen, Richard and thed don't understand. And people just get angry in reality, you can participate in that same game and win in this game. Because are economics system is design to benefit investors. An IFU don'understand that you wo never be able toen in the systemint number to in your money. Mindseat is that money is a tool whauld you mean by money is a tool. And how that different from how haveronews things about money? You have to understand haw money place apart in your life. When i say money as a tool, what am mean by that is money does a make you a good person. Money does a make you a bad person. It amplifies who you are. And what i like to say is, atat theat are for fitnesses in your life. If IU want livver a happy and for filld life, i haf ve be be physically fit. Met the fit spiritu to the fit and financialy fit. If you physically fit, you on your death bad, your re morebil or Beast haven millions dollars is noken a make you happy. All you wantant do be health you again. Mentaly fitness about being happy. If yo'eroundd by taxic people, if yo'e unhappy ie yoe re depressivedd your anxious. If you just miserable, your're never going ab beable to really enjoy life. Havey more money isnocking a fl that hole spirituy fit. Th not mean religious. I me is having a purpose. What is a reason for getting i a bed everyday? What is a reason for onanting to go and achieve and do something? Because if you have ze millions dollars, what's yo reason for one to get up and conque at the braat? Top is financial of fitness and WCE. You have the bottom three having financial of fitness, give the the most power and ability to live the best life possible. Because this is all about now beble to solver yo of fin nature problems. Been nable to now ray about painer bills beenble to have theat nicer stuff when you want andnot have to way about the price and the thining about this that i want to withy hammer home is. If IU don't have this financialial fitness now, your physical fitness can get hutd because you can tore th nice Jim membership, you can't th the healthy food you can't to fo to take care re body. If IU don't have the financial fitness youur mental fitness king ge hut financial problems ar wannant the leading causes of suicide and divor financial problems can really stress you out and neakn cause a hol oud of enidypression, fin nature proms can also ruhe in your spiritual fitness. Because it you can pay bills. You can easly lose your sensible purpose. So yes, BK b age, the fit is is own part, but it all comes together in your life. Number Th to this money mindse, money is abundant. And what am mean by that is, you have to be willing to think pigger, piguse and temples. W happens is we start think about the dollars that I'm giving as aos the dollars that I'm giting. If i pay you wer ad dollar, you are giting rich of for me, but I'm no looking i whent I'm giting if I'm giting. Two dollars um you. W is a bad that a pay you dollar? No. And this is when now we not, we need toeed understain this a loht money in the world, just because somebody get'rich that does som means somebody else can't get rich. And the reer, w we got thisconused is because we are that money is scars. And this comes som mor tildhood. Because when you gow up, you're fighting for your parentss attention. And this a limited attention spendd apparenents have. If you have siblings now, it's divided and do, you can't have all the attention. So if there your re parents to giving there attention, the sombo us them is your re not geing attention. It i a yes or no? Som black and wigait, but wuld money. Th'not the case you can be rich and i can be rich. Bo be have to understand thatre's a loht a money in the world. I mean, theu estates government has dreiigco somet trillion dollars of deat'the, loht of money. And so e feuges take a small peieace of that a small peie the dollars outter you can build woralth. And somboy us can build Woralth. And why is that that particul point in this money mind atat secretica call? Why i important to know that that so much monthy out theat? How do that change, yo? So if you make fünf the you right now, what you my start doing. If Iu become financial, they smart is you my stay alriight. I'm goodna start live in offff se dix. What i make in? I'm going to invest the other 15. %. That means I'm gon live off of and save in invest. Mo call a dollars. You might now sa est, ah, ike this I investing. I'm sing the potential. What w do I make dolls year? How? But i keep cud and back now. I'm now live off. Tw thre's a limited number of dollars. The chicken squeeze, oue? The this pie butn limitd hoime m chicken earn. So what pass say? Let's flip. I u a little a bit. How abut in setu? I tre squeeze more penny out of this dollar. You have let's tr a earn. $5 the year now. And the first thing this go happen is you gont. Wow, wow, wow. $5 the year? My boss is knock in a. Give me abive dollar aear salary. What you talking about? Justate will. OK, let's brak this down. If you wanta make more money. How do you do it? I don't know. We the start learning wed you gonna go a learn Google YouTube, okay? Let's good Google in YouTube. How canna make more money? Maybe you start by learning hot ask for rates. Maybe learnd get a career change. Maybeu learnd to change a jobs. Or maybe now you soricl litt a bitut different. And you say maybe you start to build a side business res side hustle. That wake as are earning more money. Butn tell you realizet that it's possible to setu of go. Let's tring gover bger. Ho a. And that can require num one you break? Oue. The mindset shift. That invisible bar your but also understaing. This is s a lot a money outer. And the lost point here is i will becomealth the witches different to the first point witches. It's my juy to become welf. So we disco the first one witich. I will become wealthy. The last one is it is my duded to become wealth. Ah, OK. Whise it. You duase the becomehy because I believe that is up to you to take caree your family, to beat the one the take cares to tat care yourself that we can also up take care. Yo, community, that is my believe that it is your re dod you the do so, and if you rel on the government are somebody eles to do it. W you are asking for problems and we know we ve seen this and many instances we you might of hed in the United States Social SecurityUs dry up. It's neverain a dry up because the government can just print more money and pad out, but is neveran to be enoug to liv a great life. People that religide on pensions wel pensions orree becoming. Yo, thing of the past, some pensions have gon bank rptpeed and people of lost that so it is more important than ever for youn become financially sufficient finy stable thug your own fin education. Trump is just binected the new president of United States of America. W you so that news did it change your thases as relates toalth creation? Is the anything you now god beatng differently? Is there any new opportunities that you know? See, ar you shifting your capital allation toads more risky asset, so less risky assets so real estay. If you take a look att the last 15 presidents in the United States, some have in Democrat, some have Republican theis dark market has gon up under democratic presidents, it's also fallen under democratic presidents. The STK market has gone up und the Republican presidents, it'also fallen under Republican presidents. So what is i mean? Well, if you ree disis investing for the long term, who cares what perume investors that willulcal I a little bitut more cerphisticated, you might want to understand what the president is going to do in terms of shifting government suspendending. Now one make this a litt bit technical bulum. Me can a break this down. Our economy is measured thug a numbercal GDP, and GDP is a measure of all spending the happenpens andner economy in theited States. The largest spender is the government dreiig pront of ARR GdP. Oue economy is government spending, which means th thre ARR certain entities, certain businesses devil benefit depending of where the government spence money. And that can thean impact th stocks, I can impact TH industries, and i can impact to businesses. So now tHt's break this down. If youur re long TEr investor, you investing in the S. P. 500, you investing in just general ETFs and index funds and mutual funds, he does not matter. But if you are, that's is say all litt more sophisticated. You want understand, ou? Government shift that a happening. Now we can dig a little bit deeper. So prior to the election, we published the hold report in market briefs. Pro on this goba, we talk about is if trump is elected president. Here are the things that he has saat theat, he'ging to do Nr. One he wants to derulate or in gas. Number TW, you wants to derulate theat fin naturure service industry. And number dreire, he wants to investd in the military sof for break this down oil and gas deer companies that ar investing and drilling oil. And of this companies have less regulations and more ability to produce product and selmore product. Theca se bigger revenues and bigger profits. Number TW with fin nature service industries. Things like theu companies on Wall Street. If you deulate them and give them theility to do more things, th can make bigger revenues and bigger profits. And crypto is W and Crypto Crypto sin the news that heess been and he'go ab you no greated the prices of just skyrock at it. Exactly. And num thre is. Investing in the military, what is a mean to invest in the military? Wel, if for investing in the military, that means step, we gon be practiciing, shooting more guns, shooting more bullets, having oueillerary, having planes and other machinery. And the are than done by private companies. And so if the government can spend and choose wher a spend money and the government than deciise atat the we spend more money or allow companies to be more free to do whatver the one in th industries. Th industries and haveability. The potentially growth revenues groth the profits groth the dark precess. The is can then create what we call a government shift because the government spending shifts. And i can create an investment opportunity for investors that want to be lip I more staphisticated but i i say th again as a long Tom investor, forget the collecction cycles you investing for the long term fr th las affphisticated investors as you. W when you are yar old, you chose to invest in real estate as a cash generating asset. Now, if I wner invest in real estate is my first investment as yoditd. What allver the things thy shul be looking out for i i'm someone not nows nothing about real estay. Wha can a property shoutt be looking forul? How big doesn't mter how how much th properties cost on my looking for family rental studio appartment? What conna things matter? What you investin is go depender. What best for you. But the way I li to look at it for me, I can tell you whaul to do i is for me. When I best in real estate is i look for a sen cash on cash return minimum whatd is at mean. So i invested a dollar today i on se cents of cash flow after expenses every year. For my dowll deat invest sof, i buy leters cale a dollar house and I'medkeep a very simple wean have no debat. I tick a dollars aut automate bank account. And i by this dollar house that i then rendo out that rent, after all yo expenses, should thed pud at least dollars into my pocket every year. That's what you se prozen cash and cash forurnn means now for me i preffer single pay houses or multifam family apartments beig tht can ofwher I got started and i ve found more successorre. And it's a little bit more innovation proof because we know that offices can go up and down if companies a rooky prom home officeces can be affected, the retail sector can be impacted companies and moving online. And we see that this a lo shifts happening in the retail spaces. But at the end of the day you got find wast right for you. And how andolve you want be when i invest in real estate? Iw wanta to be passive for me theat after I find a property after be do the renovations i want, i give the keys over to property manager. I dond want have to worhertyout it. Okay, so you don't become the lonlodge yourself and deal with their tens dry. I do not a reason why is i ab the thing that need to do? And i don't want sp my time managing the property. I want betend my time acquirg. I want besend my time investing. But i i want betend my time managing. Wha's the best investment you have a made the best investment. Ivamad is the investment hit myself that is givet me a butge better return than any real estate, thean any stark, an evenent that any cryptocurrency. And when i say best investment in myself is two things numver on is the investment that have made in my own education als out of school. So books, podcast classes, coaching number, tw the filelures i have made a lot of m sticks, the have cast me all lot of stress. I lot of hedic, i love of money, but theve talug me a to. So all talk about real stay first. Second, if we go back to the first, condo the sunchaine and rainbows. Th is a rend this property ofer hunt dollar in month, but the donwn T fall or in theat risky part. And the bad part is that i made every mustake possible. Num one, I had a bad contractor number. Tw i ha a property manager which idn't realize was a fake property manager. We didn t new sign a lease with the tenant. I dony w sign a contrat with a property manager. They wn t working with the tenants and they ge the tenant my fallne number. So her i am sitting in my organic chemistry class geit in call in my tenant thing. The properties gona implode because the late BLB fused. Then we hire broth in a bad tenit. Quel question th how coul you avoi id ol this I could ofat number one had i real lied invesre that I could of talk to which i did and have access to i red aot real li books. Sofu say what could ived? Don t diffly woul beca th people listening, right? No aging. Jesus. I want again to this real estate game. Gorough th you can lear much you want. You got make m stst is apart of process. You can learnness everything you want. But every real estay deal is unuique. You are gon to groruup and i have me a lot scrus. But WCE see get thugh the scruups. I becomesot is year i call of the herrtle butent thingks got ev an more exciting. Because now bring on an new property manager. And the tendennis move out. And thn we think everything is good. And now I get eat letter deliver to me and and deliverd is ein nice gift. It is just breath sining. You ar re being sude. I atat what dose tenn then sude me. Because theyclaimeimd that the bath toub wash too slippery whenh the water w on. True story. And now here i have this lawsuit. I'm dosuse mil ve i tmnow ideal was. Go on on. Just preat with the bathopb. Do slipray al tell you exact. Yo, we happened. There was a chip about the size of aorderter in the baop. The painter chipped thefiled a complainted with my new property manager. Thank. Got as switched property managers. Because what a good property manager does it yore gon a document everything that happens. So M Property manager documents. OK, tend compla of a chip in the badop, we sand out the contractor. So that propery manager sense of the contracted the go there to fix the chip in the bath. Tom, an new what a tens. Can yo come back a different time. My hulsban slipped and fel at a friends barbeqe. And so we don't want you to fixed that chip today. The contractors is OK. Wenot this down. He tres to then fixed the chip three more times. But de tenantt denized every single time. And so with that. Okay, just lett'now when you want the chip fixed. The contract is waiting. They never broht Ied up again. Thn we got th laws suuit sae that we were negligent that I'm this evil, greedy human being, beca i refuse to fixed this chip in the bad top, which made the bad top slipper, yo, when the water is on, which cause this person the slip and fall and break their hip. And so now we got to the losod process. Thanky, I had insurance, but the insura complet st a pay for the attorney. I have to be involved through all the proceedings. And now therelaaiming that because i dind'fix, this chip a made the bad to top slippery. And that's w cause th tenittict hurt will be had the documentation thing that yo slipped and fell att a friend Barbecue and them m god to the hospital records. I wh found out that this person slip and fell at a Barbecu, but they want it to geid a money. Are this rich landlord? I'm ae you kid. You re kid? I have no idea. I was goe on and so the insurance company had a settle the paid dollars to make the case. Go away. Sin just inusive people hero a that they think go. She really don'tn I go through that. So just pre please tell me something to avoid sommmer th things and i you know, you talking, ou is writing downs and principles. Yh I and'what the first principle that i road down, which could of aoid you will lot of that ho take is to really, really, really, really take time when picking people onnt % do doieceice ol portf comp. Which I know, they not going to listen to the mat. How passiony sa itter f bg on the desk the matter fry scream ou show the my SCS the one piece wuld WCE SID say to them it's that recruitment is the single must important THK. And you can say that to people, but iy still rush the process. They still will just go with the vibes in bias. The'll still just go with the pu person who sounds this modest. They wn t ignowdge the factat. They don't know what good tod looks like. You don't know what good look like if you starop with space promise wtich mot people don't starop with which is i, i'm realy really bad recrument. If you with that th you pu systems in place toivia the downsides of you beining really recruitmentf witat. When you whaver you woul to see co somone isinion on wich contracted to high, which tendan to bring in. I that could of alliviated a lo this pain like i was in a rush. In a rush? Yes, i wantant to get it done. And so find the cheist and fastes contractor, the cheapist and fastes property manager the cheap and fastes. Onh not the che b in oner fast is ten at that I canul bring in because i want to do it quickly. I want to GT there fast. It remd w people picking romantic partners. I was in a rush, so I know the red flags and it's funycause. You sad the cheapist. This is aced to woul play ouut an business all the time is i speak to young found is that a starting businesses? And the go, Steveia, know you say like take time and high a great people. But look it the salary this person cost a dollar and this onzig dollar. So i'm god go for the one that save me money. Not is the trap on of the mostensive things that yo can do is be cheap. And i learnd that the hardway because i was born to be cheap in i talk about how Indian people macha dollar des benanzig cents. That was my family growing up and that was away. That was rated that if you become a doctor, you'll make a nice six figure salary. You can live off of dollars the year and save a who ou money. And i ever question tht. But this is I very can of just don't spend money. That's ho you build welh, because if I give you money, them is i'm take in my welalthan gaming yo, too. And i'm gotting nothing in return. And that's be ghoes back to the in theat mindsep. Money is abund it. And that scare city thinking is w the Mose expensive things i you can do and I ll give you story of this i tod you. Have youf you want talk onut mtakes. We can go for hours and days about my mustickss be i scod ab all lot i had and accound. And i figureed that if I'm ping less money in accounting fees, i am saving money. So my business can keep or money i and build more wealth. Rht. But we the most expensive things digd you can do is be cheap. So i had is accounted, th was cheap. And all he did was fil my taxes. Kind of i'm me ne was late and whatever. But he was cheap. The monthly payment wasith cheap. So i don't wh the care too much, because I got the tax is a done in. Then i am was wondered. T why we don't like talk about taxt planning. Wt's shul th do i is just like att the end of the year. I get th sake, big em mail, send me olivever stuff. And then i don't here from for a long time. And then he as sign this paper work. And i di really think muchy it buth. And one year you is January, I'mt my office and I get a call early in the morning from my aun content. And if you got a call for me coun content early morning, engener, itts's never good sign. I don't know that he calls me saes just beit. How you doing? I Iat. I'm good. How are you thd? Canno no geid s som good news. He. Hey, i meet a little mus stake on the texxes. Could you do me a favovor and wire ta dollars to the state a michigan by the end of the day. As that, excuse me, henat. Oh. Also coju also by the end of the day, please wire a doóars to the federal IRS by the end of the day. Excuse me? Oh. In the last part, you gotna pay penalties and interest on this to. And it toke me a min to with the oborbaable disinformation. You want me do cent a doars by the end of the day. Who s fal is this? And i remember this response. He said it's nobodies falult. And you know, I didt with the process what hi is set. But i had a think through this. As i who's fald was it ismy fad. That's who'fad i was. I want it a blame him. But i was my fund because i was beining cheap. And i learned i hired an new accountent who cost me many, many, many multiples. More than what ie was pning before. But younow the crazy thing is it's actu they saving me more money now, because we do thse taxt strategizing. Whaich s then alloose me to pay lest money and taxeses. Legalally, i ve no pay more money to m accountet. This is w the p ths theat island in the lasty th yar my curet in business for maybew my fst business. Maybe yar ag go abut in the lance. Thre is in partiul. Just go overy obed about hiring in recrutement and really how much the the exceptional person cause is inconsquen to the long time nett impact. Th have a my business. Meember, asectok to Jason heho's m alll the brother. He wks my company now. He's like super small LSI actual scientist. He'ar accounculator and i tht them can you tell me when wy not whah his originated from he saat youtw worth is ex hundertbeions. Whatever th it can you liked, go ups stram and tell me were i came from and he IU donn't come backing selw. You made this great baut allh this investment, he said effectively wt happened is. You hid six se good people I no six se good people and a couple more good people and making and coup good decisions and noise people made a couple mo highs ande couple more good decisions. I i propagated i it remontd meu something Steve jobs sets Steve job set people think of build this yono muti billion dollar business, because I'm so smart. And he sa as in a entview wha she play on screen, he I've build a lot of my success of finding th is truly gifted people and not setting for BNC players but really going for the a players. And i found something. I found that when you get anough a players to get it when you go to through the incredible work, the find, you know, five wit is a players. They really like workm with the chaadol because they never had a chanced to do that before. And they don't wanta work with BNC players. And so I become self policing and they only wann to high am more a players. And so you build of thse parckets of a players and a propaggaates. So the game of business, i me in the definition of the WHD companies group of people bit the game ofh business is to asssem the best group of people. And if you cheap that mission is not possible. And and you you get a shoort time when but the long time pain whichu that genery phone calom your account to myy i fuck dop you go, you baint for just pret. And you know, i ghost back to you're talugke to, but touch in the fire, right? Becomining success forul means you re gont to make m stkes. You have to make m stkes you cannot by pas the mus stkes you as be how do sombody do this? With ouut the mtics you'gonna make yo own. But the difference between somebody hohould become successible and somebody hohould thes not become successible is there are willing to make dos mus sttics. Si most people say i don't want to try to touch the fire i don't want to riskd, but't tell you touch it until you scrup younow canno know was hot and you got ab beu will in to scrup i want something to that's w whaich id notice in you you just saat that in last sh willing to make mis stakes youe knowck ab willcome successful. But there is a question i ho you i sad who'mistake was it? W als Token about you a countatin and ou testing you because als tri to see where you pup responsibility today i i think not point of taking responsibility is actually the biggest indcator that that m stake tos int interes lesson so you accountst factor pllly and competten. Whent i ho you who fold with it you sed it wasit my fad i that i meety telles me that youno have an int internal local of control, I the control a that decision and youur re blief of wh the control lieize is within you. So in the future, you canduce something about it bugut when i speak to people about bad relationships, about bad highs, or about anyword of bad personal decision livfe made maybe about friend 1000 neuf the time they will blame the person that was about person. And what you did is what i think is the important thing and actu the science corporate that if you have this inal locusive control intl responsibility for happened you much more like let be successible much more like le to fr much more like be happy much more like to be rdich whichs you it wasit my fad can at td that together now with wealth when people ask me why is it this some money? People are power and struggling witd money. I say there two things at fold and thre two we I can look at it. There'is the it's your fad and the my fold. Alway, like to talk abouto to this because you have to understand is because it t isn t very wl I appreciad all the k words because i really do appreciated that wut when i sae it's your fad. Look on. Economic system is design to profit of a people being b naturally stupid period banks propit when your financially stupid because iuse you stayd det and they keep making interest for the rest of your life corporations profit when are financialy alerat beca theat me, you re gon key buyind their off and not think twaces and the gon a hire the best smart mbas'to get you the open up there wallets to open up your wallets. Number th the government is gona profit when youre finally illeraed because them is you don't do anything outsde w a w to job and you gon t apper the highst tax reits you profit when you find the educated. So now wel can you do you cas say? There ar the reason, t I'm broke this company to ar reason one broke my company to reason on'broke the government the reason wy and broke the banks or the re on'broke w th's k now wha? I'm thing that just part one. The second part abart on be for iut get a part zwei. This WCE. You understand this? You can learn how to win. You can learnd ho. I use the bank. You can learnd how a use corporations because you wanta have nigce stuff. You can leart how i use the resources that the government has. But no, let's flip the script. The second party this to you need, understand? It's your own responsibility. Because if you spend every dow letd your earn, you're never gon ab become wealthy. If every time you make money, you go on a niced vacation, you re never gon a build wealth if you can't to for it. If you just make money, and you make everybody als around you rich before you make a sel rich. That's your choice. People don't wann I take po no responsheru topicways tooout. Because that li caldro tourself. It isesn't feel good. Does it to say that it wasit my mustake? I'm the reason. White don't have money. I'am the reason wh living in this? You know, this little betd sit with th fo strange guys. When i aten, yo'old and in't have coppets on the floren. I was shotlifting feat to feed myself. I you kw that hods to say that itit me. It's my diffficienencees. The self. A steam doesn'want to takes. So yo at tag. And you know what? Here is a thing. It might now be all your fault. Thnat t miy. Yo ar lot reasons. Wh ar in that crappy situation? That't mi. You ar loter reasons. W are struggly with money day. You megtve gron up in a very crappy situation. You mid of had horble parents. You med of had a horble ubring. You id of ha hor surroundings. You meden delta a horble set of cards. OK. Now what? Now ihat you are? Now the question is, are you got at take thy responsibil? They deep today going forward or not? And you have to take that drastic responsibility? You have to take that drastic mindset shift. And that whah yo have to do? And th is difficult who ha BLM themelves. But if you want change w you are there knot. Can a do it? Your banker isnot a sa hey, Steven, you know you can't the for this car don't take this deat. Don'tke this house because I they can sign you up there gonna wann ge paed there in the business som make and money not for yo b for them goo isnock, can a say maybe you shul bom stack and set of this puse. Because there re gonna want sh ab buy their stuff. The government s knocking. Es say, hey, wann w you take a look at ar balanced sheet? I m to get. I m take this lo tange it the government SAS student loans ARR problem. We've all her that millennials can't buy houses. The can't by their home the camp invest. Because have student loans the government that to alons ar problem. Really let stake a look at the United Estates balance sheet. Your balance sheet is your asset en liyability statement. The number one larges asset on the United estates Government balanced sheet are studentans. So here we keep saying o stud alone are bad. We keep hearing this on the government. Betut on the other hand, the government is so rich because of the stud alans, because somone people are stock in the student alans. And yes, what you pay the hig tax reits when you were just in employee. I'm me atorning. I'm not you attorning. But i am a lasson is attorny. I betut a lougw time study in the tax law. I what i tell you is atat the tax law rewards you when you are an investor in ta mil veinticu. The CEO of Coca Cola, James Quincy, it's got a makepout oc million dollars in cash compensation. He also got equity. But about OC Mill dollars in cash compensation, his top tax rate on the OC Mill dollars is gonno be th % on the federal taxes in US. Warren Buffett is gotna make over 700 million dollars from Coca Cola Dividend in 2000. His top tax rate. It gonna be ##anzigt he's makeing way more th in the CEO but is go a pa less in taxes on acentages level becausey made that money as an investor when evver tougd that this gouse wants that fther the disesn t att because if you lookt someone like an Elon Musk, they never even take a salary. This people and people thnow abut this thing cod learning agains your assess. I don t knowout it and i think it a big secret that people need to knowout. Elon Musk is interesting because he a risk tker and heat choose to get paid not ins salary. And if we look at the taxt beny perform this this because you are taxed noe I your income that'nowt what the taxt courd sa you are taxt based under taxable income. So now whatever yo accoundery smartount, i every Smart accound is go a focus on reducing your taxable income. And the what el i musked is when he was building texal Tesla, he the go shated with the investors in the board theat. I want to geup paid not with the salary. I want ge paid with stock options. I stk option give you the rige to buy that stk and he was awarded th Tesla stk options atat about six dollars a share. Wh means if the Tesla Stk gouse up to sieben dollars a share, he canuld sell the stk option for sechs dollars and profit $1 for eat stk option. Now he was give it millions and millions and millions of the stark options and som now when the Tesla stark gost up to a 100 dollars a share. Now he is rich on paper. He doesn t have ony money in the bank. He has a got in the salary so we has no taxable income beca the wel an actuedy received thy money, he is the option to sell this stock for six dollars and in return get a ein hunt dollars. So net 90. But if solld that s talck, he would have dollars of income. No yove tax casasy have taxable income. So inead what iye does, I'see gost to the bank and is hey bank, i have theis millions and millions of stark options that a worth billions of dollars would do you late alone me a million dollars? Ze mill dollars a 100 mill dollars at drei cuat or five pront interest, no bank is go is say now because the collater sol valable was the clteral the colters, the companies is assets the stk options tes which tesla in th instance. So then he get this call th ze million dollar alan vonom the Bank. Now he is ze million dollars in th Bank account, but is not in income. It's that deat is not taxt. If you go att in, got a mortgage for I have mill dollars, you nit taxt. If iu do a cash ou refinace, you k nigt taxt because that'dit. So now we geid theis die millions Dolearge of loans thd yo can spend to by a house to by a car to by food toout vocations to but whatevereryu want to by tw to by Twitter and pay no money and taxes and is ci hundert Prozen legal. Now you gona say will just preed. How do the paid back? Wel let just assom thed you gonagat a cincont interestn th if the value of teslago up by, say se %, he made a profit. So now he can go back to the bank and say how? But you ge me in additional die million dollars and i can payback the all loone because the value you keeps going up and is long is the value keeps go on up, no problem. Beca a art sey with thiskid risky Beca if testla gos bankruptpeed, now i are talken about house of cards they can collapse. And now you have al this deat that you Hary spend and no more colteral. But in his case, he could if Tesla STts to fall inv value, dans a bank call ##mentysla from paymentg beans, theyive the money backquck. Yes, and o there a sell of the assett, there money baut qui in is a losing transaction. The bank will lose because of banks to not profit from margn calls, because once yoe are make in margin calls, th'an panic hits. And now you have to scramble the soul. And now the bankage as chinena get penny back out of every dollar that the land out. I'm going a old some day and i think lot about making suroe. I m welalth the enough sother I can take carve myself on. I probably cot t welk a lod. People talk about this retment crisis ##at and wis w what dout i this is multif bassted in issue. The first issue is we have the huge population of old people, baby boomers that are retired or entring retirement that have not enoug money. This is night just the us is is also the UK like you sad, which creates if few issoues number on who gon a take here of them number? Tw who going of fund that taicking care of them, the government doesn't have that money. In the people that ar going intertainment don't have that money. And there kids many times don't have that money. That'the first ISIS. And now as we sore to diggin to that, weu have people that a working longer e creieed. Now, this problem in the future that we can see today if you in yo fifti s cu s thir s veies teams, you can see that there is is problem this happen eck. How do we preven today? Beca I don't know w the solution is forr crisis. I don't have a solution for that. The avera retment savings for American age sechy is rugfly dollar an the avge of death in us. Se sieb yar old sof you retiret 66 yar old, which is the averagege oferment in the night states than for the next tenhn year. You gonno have the live of about $50 and the stat say that theerage American needs between to million dollar to com to USA today, weu need abo on OC million dollarsy. Wow. And the reason why is every year we have inflation. So if you lee off of dollars this year, you gon to need maybeifzig fünfzigzig dollars next year. More the yar after that, more the year after that, in dollars donesn't buy you whatt did th yarso? And so now, whenul me tick a look at all the issues happening. The question is, what do you do today to prevent this issues in the future and starting with in the United Estates? We have what's call social social to security. Which is a government check that you get when you retire. The first problem a social security. Because a social security is drying up. This is effect that if you read the head alliance of say social securityu gon to be dry by thusen if notthing changes. The promm is people ar paying money in. But the government is paying out. Boy, thn was going it. So from any business perspective, if you have more cash out flows and cash in flows, you have a problem. And the reason for that is wel number one, the Mathow w wrong and number too, people a living longer. So when the government kee is paying your social security check longer and longer and longer. Beca fe pour living longer life expectives see is getting higher. Thre is they have to ke pain. That's not good for the government. No on the plane. Right? Here theat a i saat next to somebody who wasith telling me i din tt verify this. But he tell me that the government new that this is go to be a problem from the git. Go beca se tome me that the first reciient of the social security program lived to a hunderts. I don'tno t that true are not. But you can Google that to see. But that's the proper rigte. Now social security is run not the money and thiserery everyone saes social security is gonna run dry. You never gonna get a social security check. That'not tr evher the reason W say that is because the government want to lett it fail. The eather raise your taxes or the LL just print that money. But problem with it is you wer never beable to live comortabilly off of social security. That is never the intention. But many people are looking get it as I'm gonna be wut to live comortly from discovernment. Check w hae is the problem? Th tick a look was happening today pour twn zwei tausendic, the 2000 social security reciients are god recieive a tw fcont raise for inflation. What there'saying is, we have this inflation and deux mille. And because of this inflation a deux, you're goningna get at two and a have procent raise this two probleuls wit that num one that raise is not enug thing or getting allt more expensive. Even the the rate of inflation as falling, I mean two and ha pron raise th, no can kep up of a the real cos of living growth the most people feel. The second problem is, it s the delayed race. The government gives your raise in tause based of the inflation. You had zwei tausenu so we are the had this price growth? And thean you god ar raise next year. And guess what? We go to ha more inflation an zwei tausen zw so, roing on social social security is a losing proposition, which brings the next part. This th lege ids dual se ha'sol security than your pensions, pensions, and become a thing of the past. I me nef your under the age of und chance is oue your re knokeg a pension. And even if your over the age of und in your promised the pension, wout a cross your fingers to hope that the pension fund thnuckle bankruptped because that ha been many pension funds that have ve gone bankruptped, and people le left with nothing wh sh lease num Dr. Your own savings and investments. And this is where we have so much ou lag of understanding because people are not doing on offh this cours back to the Halle financial education. We make money to spend money. That s what the American culturist I make at dollars. I m spended dollars, maybeuse hundert dollars. But you never goin ab Bible to ver tire with. That's or a mindset. And hers's the second problem. Wit that I'm got la the promm, the willcome ab Wut, the solution, you my stay. I need a financial advisor. No good financial advisor now. Whaes once to work withen anybody underllar in assets, maybellar in assets, maybef your lucky a assets bet the that they'want work with you becay want people the have some money to actu. The make money off raigte. The finial advisor got e sof. You don't have the investments, you don't have the education iw your stock. And this is where now your finialal education comesson. Because if you want a build wealth, you want to have quar quar rettairement you got do somet and different, you can keep doom with the majory people do because thef you keep do with the majory people. Dogan and douit the majory people. And right now that's broke in dead liveing, pay chck to paycheck faat and un happy. And i'm not saing this as a general term. I m means statistically that'with the majority people are special in America. So now lest come ofver the solution kuse we have late out the problem. The first solution is defined what is retirement? Because I'm do get a little philosophical here. But I have my issues with traditionalertairement. There'is a thing that'as the who retire early die early in the Reon wiles. Because ef you work from the age undintanzigún to sechs und sesenta, maybe sechs und seczig at ajab you hate, but you work everyth sininggle day. And all you looking forward to is retired sechs undzig. You retired sechs und sec. Yo have this great big wit time a party ni come home and you set on the sof when are watching TV, you sae a losose your sense of purpose. And i ve seen this very closely wuld people in not my family wul close to my family. We ar have seen people who were healthy, energettic. Me be didn love theat work. Wh the had a reason to get up everday go a work retire and litteraly go insane. I am me in you have nothing to do. And i you sor se health issoues that you did't hep beore you stare had mental health issoues wh you did't hep before? And all these things just start to happen when you werk gonna inter your golden years. Iu wn ifu have the money to do things. So i we talk about what is rettainment? I wanta caushion everybody or feur parents theis start thicking about what you wanta do doing wtairement. Because if you're gost to do nothing, you mige enjoy for the first feu weeks may be six month. But the bentur you gonna ab board see got, ah, hause something to do thn is the fin natural oferirement. What is retirement? And i have a different definition than most people most fin nature advisors is don't lake me for the things that i say. But my definition of verirement is a same is my definition of wealth. Wealth is for me when my cash flow from my investments exceed my expenses ver simple. If i expenses are dolls a mont in my cash flow from my stocks and my real estate and every theynolonces is pay me tan and dollars am Mont i am wealthy. So now the question is how dou actuall the achieve this type of wealth retment? The reason why I don't like the word retment as well bes side the connecttion of I'me do nothing is the assom this i gotab be sechs undhzig yours old to hit this retment wehen. You can achieve this wealth way suoneer. And now you have more options. So w timement is wealth, wealth is w your cash flow from your assets exceed your expenses. How dou aced to they do thisnow? Well, you got aboy the assets and an ordered to do that you have to have the money and many people assoom that the w you got rich is by investing for passiveentome. You get rich by investing in realtete. You get rich by a buying this cashflow that'a lie. You have have the money first, you have to have the money to invest in real estate. You have to have the money to buy the cash flow. So we to spke the numbers very round and simple. If i need dollars, i year to live my life and i can get a setent cash flow on my investments. I need to invest a million dollars to have that sie sie dollar a year to fun my lifestyle. Now you gon sa where and the world are you gon to get a million dollars? Yo, don't needd today can happened or a timeig wehen. People talk about a timement planning there thinking about Th Th five years. So when we talk about wealth, wh can we talk about a long term? It's knot can to happen in two todays, but I can happen if you buld in that work. So now you have to buddis i th am mony cash to buy certain investments thy can pay yo this upple cash flow. The second thing is what about inflation just sped? You talk about this all the time? The buying power of my dollars going down dollars when I'm seczig fers'old, of you decaades is k no cant have dist thing by powers today, you right? But heres a think when yow investor money into dividend pingk stockss, which ar stcks the pay you, or into strong real estate deezer inflation adjusted investment, which means generally as inflation happens, rental press GOP as inflation happens, STK values and dividences also go up. And this is where now, if we stare to understand this, you'll understand a power on this, because it actu shuld a little bitut more extreme be proba abut thealth gap in america and how the richard r. The wel the reason whide a happens is because investment values growth fester thean income and inflation benefits investors. So you see, ho was stare tota this al together because wealth is about oning investments the we become welalthies is by owning investments are economics system is design to benefit investors. If we tke a look at zwei tause milzehn to zwei tause mil tainticuat over those f years househod income, the medien Househod income grow byound 18 prozet dring th five years, the s p. The stak market has grown by almost 100, %, which me that the welalth for investors has grown almos five times about f times faster THN income. This is why you can't earnerway towealth, you can't save a way towealth, you have to investor with towealth and a membember wealth is retirement anyu miy stay will does bey that just because at the pandemic and everything the afft hapen afer to the pandemic will lit. Go back in time, let do get a a littleeth brother. Let's lookt the five deckeds betwee 1009 hunt 77 and 2020 over the f deckeds house hold income increased by around 600 %. No mind you that between ein tausenddert und 70. And 2020, we als so sol the number of workers in a househod increase. Beten in 1000 neunndert undbzig. The average househod had on person the win to work. The man win to work in the woman. Didn t that how life was in early 1900? Sieb sunden in 2020 many house wder twhold incomees. So ein taused 907 undzig der 2000 und 20 the Medien Househod income grow by round 600 % die s p. 500 the larges fünf Huder companies in the dark market grow b around th. %. So again, inflation happens, inflation benefits. The investor how do become welalthy? Zwei investing your money. So if you want to retire, if you wanta build wealth, you have to be in investor and you have to calculate. What is that welalth number for you? For me? The way that I do it is i do it to cash flow most to my investments. My realated investments pay me cash flow. When i Bu a property, I buut for the cash flow most to my stock. Market investments are dividend ping assets meaning. The pay me cash flow dividend just for only the stk. Some of my investments grow and value there more appreciate for appreciation. But when i THK about retirement for me, it cash flow exity my expenses. What about starting a company? Should people become entreprenuse? Wha? I think everybody in American need'to be business owner. But the majoy people shoul no upgrate a business. When you invest in a stock, you become a business owner. Yod don't upgrate the business if i go. And by Isare of Amazon, I'm not working in the company. I'm not uperate in the company. But i own some of it. Some people should starter a business. I my huge advocate for entrepreneurship. For the right person. He the right person. I used to think everybody needs to become an noteneur. Because when I started the SE success as an entrepreneur, I crousted that invisible barrier. I that oh my god. People need to se this. You have to become an entrepreneur. You can do things on your own. And i was preaching this to my friends. I got one friend a min who is in engenineer to quid is job. And to then join me yould come to my office. I ou would talk too THS as i. You know, diff aways. You can do this. And i realized pretty quicky. He is not men to been entrepreneur. The workathic was different when he would go home, heat ar wann to work. And that did not click to me. What do you mean? You don't wanna work after clock there. No stop point. When you starting a business, you got a start. The second thing was the whert you think about risk. It's over w the I investor hunt dollars. How best to on a make the money back. I I gonna make this money back. I became all thse like little analysis se before, yo, vive on done anything. You got a start. And the is the innovation. W what you gona do? It's asking for a blueprint. Tell me exacty what to do. Tell me exacty what the sall. Tell me exacty howd a solid. I don't know what you are. Good att. I don't know wha problem you canolve. I don't know wha innovation you can create. And this is wher i go back to. I am a big ad the kid for entrepreneurship. Wh the right person? Who is that right Person? Somebody who has this entrepreneurial itch that you have? This i ned to create something this I can't work for somboy als feeling this I wanta build something. It's a very much like. I don't care what it takes. I don't care what have to do. This is what is my calling. And as you say theat you gon have to tolerate unscer. And when mean comer is well the lake of a blueprint, the lake of certatain about how mucht you godna make this month. How quickly you gona make money. Or if you gotna maked money risk which yo is. You my have toout low things on the line including yoar reputtion. And you sad hard welk is well. So are you willing to work seven days a weeak. And you right younow people say that they think it super talxic. But li got in my oni experience a starting businesss. But then every friend that i have that starugd a business that all to ying that that's absolutyu. Know thch thing is cinq you, we ark, when have you have a work? And if you ared aout is for a wedding or a anniversary mill with your partner at any moment, you Mike, get a horrrabily IML i you have to act topont you can se i'm got a save that to Monday when not my problem. Oh yeah, and I'm a add w more to that list the witiness to be criciedd. Yo, any business you start. You wer are gon upset a loht a people every stage. The business i m is realym po be much the mor people bey be that own boss. But wt so interesting about the storyu tod about that tennt is you pcame her boss when evver I'speak twch punuse. This one problem nowways comes up. But today sponse a LinkedIn has a solution. I iy think you want to here. It connecting you business with the right audience can be tough, you can spendender lod of time on money try get at RHT and still Rec godless. Full short to that a specialy when it comes to be be marketing. Wy you not doing business with one pass and youur re dealing with teams makeing decisions together through LinkedIn Ads, you can connect with in extendiveve professional network of over billion members, incln 10 millions seaess. We executives, you can allo target specficlly by Job tit, industry company and more. It's now surprise to meet that LinkedIns reported be the highs returning paid social platform in the world'how. Pe get starugd. LinkedIn is offering a $100 credit to lounch, your first campaign on the platform just go tolinken com doac thelaaim yourredit now that s linke n do com doac toful thimes in condition supply when they things, i really wnd to talk yobeout well is just Award that i think you so potinents everything w talk about todayich? W i thing is important. Which is the word patien because the summares if gsT, what is set about my friend? My friend who'is been in all greup chat? Who is s made more cash? Theann? All of my the friends and my grup chat. And he's don t it by being boring in patient like he'just flow und the the ray or I? When i think about my life in man, i the investments I'm making now, I'm like, oh god, what is i look ever there? My friends binaiden some like crypto meme coin. An is's told me it's gonnaar hundert und 50 x this month, I'm look over there and peoplear investing youno tnow the the picking stocks and stock trading, whatever in the telling me it's gonat 50. But in my wisdom as Ive god older, i ve realized like theat totu in the HA that boring and patient, it su yo, wonderful investment strategy, it su yo, like a paradoxical wait a think i have so many seeds that I planted that arat taking forever to grow BHT just now, now because i god eno casedies in my brain that that boring in patient approachd to wealth will pu me a better preition in the end. The game. Yes, i never share this before bright have this big peace a GLS and i pattern front to me as som theversations and su i your me, what tool ar use the help with the research process b to keep my thohs in checck wall somone speaking at me for potentially three ho a time. I'm happy to say that the tool life the using for the lost coleyar are now a spons this potcast. It's an app that combines ai wh the ease ofdret in no taking. It's an appcod. Good notes. Essentiallyt, Max, my I dear capturing process before the compensation happens organized, bro. So it last me to ante research documents and scribble down notes in real time on anything th's happening in the conversation. But the pot, i valy, the most is that all my notes as i'e m taking them are think top with my producer Jax Computer, who sets in the corner of the room, which keeps this open dialog between mean him in real time, if you the light twck blue goodnoise had togoodnose, com slash drac andt youur extended th day free trial today. All sign up for a yeely subscription. I just neunt. Neun. Hed to goodnotes com doac. You have to be sometimes impatiently patient. So if we talk about building welalth through investing, yo, money, the numbers have shn that over the last century, the douk market has gon uup by average ofzet year, historically. But many people lose money when invesg in STKs. I me figroun talking people have invest stks? Yes, yes, yes. How money had made money the hands starping. If the dok market has gon up by rund cizent year on average every year for the last Ci hundert years wire so muyople losing money becats we stare play the wrong game and sonow what happens if you investor money into the STK market and by the dark market? I mean, tht just sae. You buy the s p fünf hunderts, which they basket of the hunder larges companies in the stak market for exemample? Nop. My nature advice, if you invest in Spy, that is an ETF the gives you exposure to the fünf hunt larges companies. We know the historically that's GOTP by prozet year. But this night andough for a loht people. So now I'm a play this game of i'm to trade beat the market and some people will most wont. So now su program t ag ginss to the game or investing individual companieser? We be trading companies beca se on investing in indidual companies. If you invest forh the long in of period of time, you probabley go a win but Manificale. Now on a quicker solution. Now we start trading, we start finding Hot Company. The next Tesla, the next Amazon. We see w Reddit saes, we see w Google sas. He was thatd byind theis things because rexcited but dead excetement it. What killing your weh. Because your investing on em motion inst setetive investing on financials and so this is where you talk about WT's boring. Just keep dohen the market. Keep investing in the market, with the markets up, with a markets down, and a market sidewh justkeep investing because at is be provend to win. We know that if you invest are hundert dollar a mont from the age of 21 untilll yourerment sechs undn sechs undzig and you can get that same ze % return, you go tover tire un millionaire, assum your only invest on 100 dollars am mont promom the age of undy to sechs undhyvor 66 it's interesttin thining is when ho youy i what the best investment you ha a made wasalls you saat the investment you made in yourself and maybe we ve not spin and of time really talking about how critical know legendkills art to woalth generation maybe that is the first principle of woaltve creation maybe that is the fth this thing u stream is no legend skills, and you can you k double in stocks on whatever als but really over 50 year time horizon your knowlegen and skills andu k your knowledge miy be of patien you knowledge might bef realistay investing you knowledge my be whatever youe knowledge miy be a phosophy tod investing really is your knowlegen and skills the the time wher you en doub so as it relates to getting nose knowledge and skills wher the best place to people to go other than over se the diversy you kw outde of this pocasuse, where is the best place for people to going? Getnow legend goess atat Lacan trust whout gotting scam to wut haveing a pa for calse from youtuber'charge in taused dollar am Mon for like a, you know, to tellum something that reading of chat GPT what is like the best place? Wel the best best place is you god and do i scrolrul? Make m sticks but a long with that the start with what's free YouTube podcast Best book you evveret the first book als stare with that because the bestes exchanges Ja, the first book ever covered the cover was rich deat por that a second book was total money makeover rich ded por ad is b robert kiosaki total money make over is by dave ramsey the thirdbook is a book col the creature from jack island, which talks about the feder reserve bank dos th books organa giveua foundation of money and different perspectives it so strop b learning for free be even before books. Strop by wattch yo YouTube video strop by listen in the podcast, thean you take the next step in thee readg books and whil talk about ist if you go out andver the next tal months you read f books on money management and investing AGD just give thre read f books on personal development and self moment read books and howd startup business, refib books on leadership and and read books and had a scale market and build grow your business. You gonna haveen MBA level education for a fraction of the cross star WH end and the go and make M stakes. And as you that weak is are buying classes anotther thingsse youur find people that you might want to iitd consulting from. But start with that what is the most important thing we didn'talk about to today as i a relates to woalth creation. The most important thing that it we the not talk about is we talk about the economic system. We tank about a principles by thick. We didn'get in to the actual steps now of how dou preserve and protecture wealth and how dono continue use wealth protection tools because is a lot of that theat. Every single welalth the person is investing a hue yo mone of time ever Th and money into that most ripple have no ide ev wan exist. We are id a touch on taxes. Wut ar'so much more so th wealth preservation tools. Wha exact toy with first accounting taas them. We get int to the legal you ar state planning. What tipps of attores, what haf to legal protection and shields and tools can use destructured your business, your investments to protect you, but also amplifier wealth and an things like insurance. But the als youur state planning because you talk b generational wealth will generation health is in just the money i what your money does after you die and you can control that when yo ar alfe. We have a closing ttion on this podcast with the lost gut leaves. A question for the next gut notnowing who the living iul and a question tht'been lot feu is what wake you up every morning? I'm excited i don't use in alarm. I'm get out by the purpose. I'm excited by the mission i i love what I do. The purpose, the mission that w ge me evy morning. What? But yourself and you ren happiness and mental hehu know, know? I am happy. I be so fortunt. I alws been one and th people you go me in a box. And i how a great time I will trend the box. And to when airplay and i be fl at around before i came here my wife record a video. I thisivever a hotel and the give this cance of water, okay? This two can of water i to com i a record this video. I want on the belcony and i did a donone call Steve Austin Mark video right open of the can awatering just dump Id. Don myelf, i don'tnow why and i sen to to my cousins. I ben very blessed to i can have a good town withhen anything. I'm pretty late harde id guy. I know i talk about serious stuff, but i ien very fortune it on that i can i fun in a loer situations. I'm not driven by materialistic things there'sonn th ths ar a like I will spend money un luxgerurous. My wife got me to that to likeke nicer hotels and nicer travel and doe convenience th i like i i wanta keep my wave happy. So whatever YouNow she likes, I'm not driven by fancy cars, fancy clodes. That to me is not is important. I like to see change and i want help and power people. And that gibs me excited. If you has a bring it downs to five things that a driveing yu, that what this five things num one taking care my family number tw is my onwn purpose and mission and feeling excited. Like my personal excitement never thre is. The mission is continue how people num to bring late to theity num to continue. Give back int help just pre. Thank you. Thank you soy much for bings, for generes with your time iland so much about sey things. Ando a seby sit off ideas is reinforced and sometimes that's I. You know, i ide this conversations because i been out there in the welld and have met people heve. Listen to this conversations about welalth and finance and money and somet times in life, ol it is is is a little seed of information that can absolutely change the tojector. Ive, not just you, but the generations that come off dou w. That's exacty whad you re doing exactl, wt? Yo ve dond new YouTube Tunnel for so many people that'probably neverget to say thank you to. But i is the give thse little seeds of inspiration and information. I you ne everly know whatich she is goau change to mones life. But what you do is you just continue to plant them and hope fly thys people wort to them for themelf. Soy thank you so mucht for you do thank you forbing so genus wit your time today. I'm please do keep doing it because of education system is a bitte of a cookie cutter and optimize for creating people ver po of vey system which disesn't theme to be designed withat best long time in interest in mind. And thats's why we have this problem that why we live in this cud society that why we have this retment ishes th probay we have so much mental health, ISO and depression b's people likeut the the giving us the information that give a chann to liv a different life. Thank, yo for that just i real. Thank you. Ha me oneasure, chuck me that perfect tht. One of the things is thy think about over time because my life is quiate hectican busy is how to manage my energy loadenn as a podcast, you can of afve to manage energy and sut a way that you can have these ou taqu? Yo conversations with Expbo on subjects you don't understand. And this is why pufect tees become so important in my life. Beca is previously when it cane to energy products, i had to make a trade of that i was't happy with typicaly. I want to the energy i had to dial with high sugar. I had to dial with juse and crashes that com along with lod of the mainstream energy products. And i w sges had to tolerate the fact that if I want energy i have to putp with the lod of artificial ingredients which my bdy didn't like i tht's why I invested impofect setum why theyat wder the responsons of this podcast, it is changed not just my life, but my t teams life. And für me is juasticy improved my cognitive performance, b oer my physical performance. So if you haveven t tried perfect ted yearh you must I been living underre rock now is the time you can find perfect th a tes go and wight choose or online wher you can enjoyey off with code dory th at checko ouut hets's a per f i t do com verwandle deine Leidenschaft mit Shopify Business und Knackumsatzrekorde mit dem Checkout mit der weltweit besten Conversion. Du hast richtig gehört. Der Checkout mit der weltweit besten Conversion. Der legendäre Checkout von Shopify vereinfacht das Shoppen auf deiner Website bis hin zu Social Media und überall dazwischen. Das ist Musik für deine Ohren. Wie du es auch drehst und wendest, mit Shopify kannst du zu einem echten Hip werden. Starte deinen Test noch heute für nur einen Euro pro Monat auf Shopify Pun derde.

• No.1 Toxicologist: Stop Using Scented Candles! These Products Were Making Me Infertile! Using This Product Is Harming Your Future Kids!

  Veröffentlicht am: 18.11.2024

  Is your everyday routine killing you, what are the deadly toxins that are lurking in everyday products and how are they harming your health?  Dr Yvonne Burkart is a PhD Toxicologist and former Senior Toxicologist in the flavour and fragrance industry. She is also the creator of the YouTube channel, ‘Yvonne Burkart, PhD’.  In this conversation, Dr Yvonne and Steven discuss topics such as, the link between everyday products and infertility and cancer, the amount of microplastics in our bod...

  Is your everyday routine killing you, what are the deadly toxins that are lurking in everyday products and how are they harming your health?  Dr Yvonne Burkart is a PhD Toxicologist and former Senior Toxicologist in the flavour and fragrance industry. She is also the creator of the YouTube channel, ‘Yvonne Burkart, PhD’.  In this conversation, Dr Yvonne and Steven discuss topics such as, the link between everyday products and infertility and cancer, the amount of microplastics in our bodies, the hidden dangers of scented candles, and how your makeup routine pollutes your body.  (00:00) Intro (02:16) Yvonne's Warning (07:59) How Being A Mom Amplified Yvonne's Mission (10:17) How The Medical System Lied To Yvonne About Her Reproductive System (12:22) How Many Day-To-Day Products Are Toxic? (14:27) Yvonne's Background (15:52) Understanding Multi-Generational Toxicity (17:06) What Are Endocrine Disruptors? (19:07) Diseases In Children Linked To Endocrine Disruptors (19:48) The Link Between Microplastics And ADHD (20:28) The Effect Of Endocrine Disruptors On Puberty (21:45) The Shift In Fertility Trends (23:01) Shouldn't The FDA Regulate These Toxins? (25:19) Is There Malicious Intent Behind The Government's Inaction? (28:59) How Yvonne Measures Her Health Improvements (31:32) The Rise Of Cancer In The Modern Age (34:51) Products To Avoid For Better Health (44:17) Why Are Fragrances In Everything? (47:31) Allergy Statistics And Trends (49:32) Rates Of Disease In Other Societies (50:55) The Rise Of PFAS Chemicals (52:20) Non-Stick Pan Dangers Explained (56:54) Safe Kitchen Utensils To Use (58:37) Are Plastic Containers Safe? (01:03:07) How Microplastics Are Destroying Our Brains (01:04:55) Is Bottled Water Bad For You? (01:08:01) The Dangers Of Takeaway Coffee Cups (01:09:54) Should You Filter Your Water? (01:12:52) Cost-Effective Health Tips Everyone Can Do (01:14:55) Antiperspirants And The Health Impact Of Aluminum (01:20:50) Thoughts On Menstrual Products (01:23:43) Are Our Clothes Toxic? (01:24:46) How Toxic Are Our Cleaning Products? (01:26:12) Why Products Targeted To Black Women Contain More Toxins (01:32:16) Are Candles Safe? (01:36:33) Is Incense Safer Than Candles? (01:38:19) Is Vaping Harmful To Health? (01:39:35) What You Need To Know About Air Quality (01:42:52) The Dangers Of Burning Wood Indoors (01:44:05) Indoor Air Pollution Statistics (01:45:07) How To Increase Your Body's Antioxidants (01:47:24) The Benefits Of Whole Foods (01:51:44) What Else Should We Talk About? (01:53:02) Are Your Pets Safe From Toxins? (01:54:52) Guest's Last Question (01:57:07) Yvonne's Advice For Parents Follow Yvonne: Instagram - https://g2ul0.app.link/ulLGFXiIxOb  Twitter - https://g2ul0.app.link/D5zXHtlIxOb  YouTube - https://g2ul0.app.link/gvkc2dnIxOb  Watch the episodes on Youtube - https://g2ul0.app.link/DOACEpisodes  Join the waitlist for The 1% Diary - https://bit.ly/1-Diary-Waitlist-Megaphone-Ad-Reads You can purchase the The Diary Of A CEO Conversation Cards: Second Edition, here: https://g2ul0.app.link/f31dsUttKKb  Follow me: https://g2ul0.app.link/gnGqL4IsKKb  Sponsors: Shopify - http://shopify.com/bartlett Learn more about your ad choices. Visit megaphone.fm/adchoices