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Friday, October 18, 2019
Monday, October 14, 2019
10 Things The RICH Teach Their Kids About MONEY (Explained with Illustrations.)
1. Rich Parents Teach The Importance Of Money
2. The Difference Between Assets And Liabilities
3. How To Manage Their Money
4. Different Ways To Earn Money
5. Developing Productive Habits
6. No One Owes You Anything
7. Social And Influence Skills
8. Delayed Gratification (Patience)
9. There Is Always More Money
10. The Best Way To Make Money Is To Help Others
11. Bonus. They Understand They Can't Know Everything
1. Rich Parents Teach The Importance Of Money
Number one rich parents teach their kids the importance of money virtually all self-made millionaire or anyone who've achieved financial success believes that money is very important and is one of the first things they teach their kids about money. Rich parents often show how important money is regardless of whether they believe money is important for happiness or not. They know that money is important to have options and a better quality of life even if they only consider money as a resource and nothing else most rich people understand that money gives them freedom from the ability to choose their location for their next vacation to the freedom to choose where to live and even the ability to help others. They know that they can have a less financially stressful life when they have an abundance of money
The poor on the other hand rarely talk about money and some even say that money is not important this can affect their kids on the long term because they will grow up in a financially driven society while neglecting their financial life all because they think of money as not important.
Number two they teach the difference between assets and liabilities. One of the most important and basic concepts of building financial independence is understanding the difference between assets and liabilities. If you haven't heard of these before assets are things that bring money into your bank account and liabilities do the opposite they take money out of your bank account for example if you buy a house and you rent it out to someone it is an asset because it brings cash flow every month in form of rent if you buy a house to live in then it's a liability because it takes money out of your pocket every month many rich parents teach their kids to build them by asset and avoid liabilities. This way they can create a business or investments that generate cash flow on a recurring basis and avoid the things that generate a negative cash flow on their bank account so they can have a surplus of money.
They also understand the power of using assets to detach your time from your income since assets generate cash flow whether you are physically putting in the work or not you are able to scale and use your time to develop more assets rich people often focus on understanding and teaching the spending patterns of the poor versus the rich and why some people earning the same salary end up becoming rich while others stay poor.
For example let's say that we have two people making six thousand dollars per month but they have very different spending patterns. The first one gets their paycheck and payes bills and enjoys his money going out shopping getting the newest phone and the latest TV indulging in the finest restaurants getting a new car, a nice house and all of that nice stuff. They typically spend their money on things that make them look good and wealthy but they actually come back home to build in a lot of debt. They typically have little to no savings and have years of debt on their credit cards car payments and mortgage payments. They are stuck in the rat race and they will take years to get out now. Let's see the second person he also makes $6,000 per month but this person does not buy a nice house or a nice car. He doesn't go out every weekend and he doesn't go to the fancy restaurants. He occasionally buys clothes when he needs them but he doesn't follow the fashion trends every season. He lives on a $3,000 a month budget and puts away the other $3,000 by the end of the year, he has $36,000 and puts them into cash flow investments that increases his monthly income. He continues living on his $3,000 a month budget and by the following year, he's able to invest in at 36 but $40,000 since he increased the income into investments that generate cash flow ten years later these two individuals will be in two completely different places all due to their spending habits.
3. How To Manage Their Money
Number three how to manage their money a very good way many wealthy parents teach their kids about money is by letting them into their planning and managing of their household expenses many of these parents include their kids when they go over their financial statements and plan their budgets they often familiarize their kids on the reality of having living expenses. This gives their children the experience of managing money from an early age which can help when they grow older and they have to manage their own money. This is a big contrast to many parents with a poor mentality the majority of parents rarely talk about money especially their own income they typically plan their monthly budgets without their kids. if they even plan at all and often associate a negative attitude when planning their monthly expense budget oftentimes parents argue and express negative feelings about planning their monthly budgets causing their kids to take on similar planning patterns which translates to similar behaviors later in life. Rich parents know that living expenses are a reality of the modern life and focus on associating good emotions on their living expenses as odd as that might sound many people are grateful for those living expenses because it provides them with a roof over their heads and the ability to live comfortably.
4. Different Ways To Earn Money
Number four the different ways of earning money one thing that I've noticed many wealthy parents teach their kids is that different ways to earn money did you know that the daughter of former President Barack Obama had a normal customer service job many other wealthy people have their kids get a normal job there are a few reasons for this but one of them is to be able to have them experience that different ways money is earned and teach them how each of them work for example one of them is exchanging time for money whether that is working on a job or freelancing. The second is to build systems that generate you money or having money work for you like building a business and leveraging the time of other people as employees leveraging online systems that provide automation or using money to buy assets that generate income for you.
Which is illustrated in the book cash flow quadrant by Robert Kiyosaki. The rich focus on understanding and teaching these principles to give their kids the freedom to not be stuck and only one way of making money but give them the ability to learn the other ways money is made on the other hand most poor parents only know one way of making money which is typically exchanging time for money and sadly is the only thing they teach their kids and they eventually grow up only knowing one way to make money which limits their true earning potential.
5. Developing Productive Habits
Number five developing productive habits. The Rich know that is not what you do that makes you wealthy but what you do consistently. If the wealthy parents are self-made they know that in order to achieve financial wealth they must work and carry out their plans on a consistent basis is not just about taking action once or working hard once but doing it over up her long period of time and the best way to do that is by building habits. Things that you come to do naturally so many wealthy parents focus on developing productive habits on their children so they can attract wealth themselves more naturally in the future. This can be as simple as starting their day with a set of accomplishments or to always look at how they can bring value to others not only that but many wealthy parents teach their kids how to build their own habits. Learning how to build habits is one of the best skills anyone can have understanding the psychology behind modifying your own habits can be extremely powerful for our child's long-term success.
6. No One Owes You Anything
Number six no one owes you anything self-made millionaires and those who got wealthy with their own work know how much it takes to create wealth for them and their they know that they will only get what they fight for and no one owes them anything this is especially important for rich people because in many occasions their kids grew up in a wealthy environment where they can feel like they deserve to have a piece of their parents wealth they understand that this sense of entitlement can be a huge disservice to their kids in the future and teaching a concept of earning your success becomes very important to them Bill Gates and Warren Buffett two of the richest men in the world have similar philosophies they will not leave their kids with their wealth and will only leave them with a minuscule amount of inheritance as Bill Gates said in an interview in 2011 they have to find their own way. They try to install a sense of Independence and hard work so their kids can find their own success.
7. Social And Influence Skills
Number seven social and influence skills this is something that isn't talked about enough in the financial and business world but is one of the most important. The ability to socialize and communicate with others can open up a lot of opportunities that otherwise wouldn't happen the ability to create influence with those around you. Creates a sense of leadership, installing that skill to understand people's emotions, motivations and behaviors early on can provide an incredible tool for the future setting kids up to be strong and influential leaders.
8. Delayed Gratification (Patience)
Number eight delayed gratification in other words patience the rich understand that completing a massive goal then building wealth takes time and they must be patient while working hard at their craft and that is one of the skills they often teach their kids that eventually their hard work will pay off the majority of people prefer short-term pleasures like buying the nice car or the fancy house right away or they might start a business and leave when it's not profitable in the first year and they pass down the same behaviors to their children. I really like something that Gary Vaynerchuk says when it comes to this topic and that is to have micro speed and macro patience meaning we must work hard consistently every day and be patient for the big picture as he says most people are slow on the day-to-day and want to be successful the next day.
9. There Is Always More Money
Number nine there is always more money an incredibly important mindset that the rich have is that there is always more. Most people think that there is a limited amount of money in the world and that believe translates to their bank accounts. While the poor might feel like there is not enough money to rich know that there is always more money out there. Whether it's to fund a new business or take a vacation they know that there is a lot of money out there and their job is to get it. The poor think that their salary is their financial limit and they will have to live under this financial ceiling which is a scarcity driven mindset the original that there is no limit on how much they can earn and money is out there waiting for them to attract it which is an abundant mindset this is a simple concept that can play a major role in our financial decisions while most people focus on saving money and reducing cost the rich focused on increasing their income this doesn't mean that the rich don't focus on reducing the expenses but they invest more time and energy in increasing their cash flow over reducing a few small expenses as a business owner having a scarce mindset can limit the entrepreneur earning potential there are many entrepreneurs who don't charge what they deserve for their products and services simply because they feel guilty for charging money to others they might feel like they are doing a disservice to their clients by taking their money but an entrepreneur with an abundant mindset knows that anyone has enough money for the things they really want and if a potential customer wants their product who are they to deny it. If you take a look at society people always have money for the things that they really want if they want to go on a nice vacation they spend months saving for it if they want to invest in their education they will work an extra shift to buy that course if they want to begin investing they will work hard and save to start investing there is always more money for the things we want our job is to go and get it.
10. The Best Way To Make Money Is To Help Others
Number 10 the best way to make money is to help others an important lesson that the rich teach their kids is that the most powerful way to make money is to solve other people's problems and the bigger the problem the bigger the paycheck it is no secret that the most successful people in the world have solved or at least aid in solving big problems in the world from Steve Jobs for revolutionary in the technology music and communication industry to Henry Ford for transforming the personal transportation industry to Oprah Winfrey for making a global impact in the self-development world. All made a huge impact in helping others solve a problem most poor people focus on getting paid based on tasks efforts and time while the rich focus on providing results and solving problems providing value is the rich person's game and they get paid based on the amount of value they provide in.
11. Bonus. They Understand They Can't Know Everything
A bonus one number eleven they understand they don't know everything something that the majority of people don't know is that rich and successful people get together in groups called masterminds. They know that it is impossible for them to know everything so they spend time with others. Who know things they don't, so they can improve their own business and their own life. They seek mentors and coaches who are experts and the things that they wish to learn and they are constantly developing new skills.
How the Rich Spend Their Days Which Poor People Don't Know
10 Ways Rich People Spend Their Days Which Poor People Don’t Know about. Aristotle said, “95 % of everything you do is the result of habit”. People don’t wake up one day to become rich or poor. In fact, there have been several scientific studies to show that the way rich people live is quite different from the way poor people live.
In this Article, we’ll be sharing with you 10 Ways Rich People Spend Their Days Which Poor People Don’t Know about. No. 9 can get you angry but it will change your life after your anger. Hahahaha… If you’re new here, consider Follow the blog so that you won’t miss other interesting Articles like this. The Rich Get daily motivation if you’re an adult, you already know this… life is tough. Waking up every day is like facing a new battle. Unfortunately poor people never prepare for their day. They’ll wake up either to the TV, social media or newspaper. Rich people understand that the first thing to do in the morning is to get power for the day and that’s why they listen to or read inspirational books, meditate or listen to inspiring music. According to a study, 63% of wealthy people listen to audio books during commute to work vs. 5% for poor people.
Tony Robbins calls this “Hour of Power”. Your hour of power is the first hour of your day. You want to invest that hour to get the power for the day. You don’t want to leave your day to chances or going through it with an unmotivated spirit. Try this for 7 days and see what happens. When you wake up in the morning, don’t on the TV or check your social media profile. Pick up a motivational book or play an audio book for the next 15-20 minutes before you start your day. After 7 days, look back to see how better your days have been and you’ll see that you’re more motivated and happier than before. The Rich Set daily goal According to a study 81% of wealthy people maintain a to-do list but only 19% of poor people do this. Earl Nightingale said “people who set goals achieve more because they know where they are going” It’s unfortunate but true, more than 90% of people in our world don’t know where they are going. You don’t want to dive through life just getting busy. You want to know where you’re going.
Successful people wake up every day to have an idea of what they must get done in the day. Some write this as daily to do list while some simply read out their weekly or monthly goals. Listen. Your life is short and you can only get something out of it if you focus on things that are really important. Setting daily goals or having to do list will get you focused on what is truly important. The reason why people easily waste time is because they don’t set goals. If you set daily goals, you’ll be ashamed of yourself if after the whole day you do nothing to pursue your goal. The Rich focus on few things According to a study, 80% of wealthy people are focused on accomplishing some single goal while 12% do this. Steve Job talked sometimes ago about his motto for life and it’s; “Focus and Simplicity”. Steve Job did this both for his personal life and for his companies. Listen. You’re not super-human. You only have 24 hour in a day out of which you’ll spend almost half sleeping, resting and doing some necessary but unproductive things. Multi-tasking isn’t strength. It’s a weakness. If you want to go far in life, you’ll have to focus all your resources, time and life on only few things. Sit down and decide few things that are truly important to you and trash every other thing.
The Rich Learn every day According to a study, 86% of wealthy believe in life-long educational self-improvement while only 5% of poor people think this is right. Before Donald Trump became the U.S president he wrote about how he woke up every 3am to read. Warren Buffet read 80% of his working hours. This is not to suggest that you should read 8 hours every day but to inspire you to improve your mind every day. But why is this important? You see, life is too complex and the whole thing you go to school to learn is how to be a slave of other people, I’m sorry.
To get the real education which will allow you to be rich and successful, you have to be curious and learn every day of your life. Your degrees aren’t education. It’s a paper. To be truly educated, you have to learn a new thing every day. Ask question. Read good books. Listen to good audio books. Learn. Learn. Improve your mind and your life will be improved. The Rich Say No! The most powerful word in English is NO. People hate to hear it but they need to hear it every day. We hate to say NO to many interesting things in our life but we have to learn how to do that. Becoming successful isn’t easy. It requires a long, long journey of daily discipline. What’s discipline? Discipline is saying NO to sweet or interesting things, if they don’t help us to become better persons.
For instance, poor people are almost always ready to spend money on things they don’t need, just because they want to impress others or because they found such thing interesting. Hanging out with friends who add no value to your life, partying simply to enjoy yourself, sitting down simply to gossip etc. are some of the things you have to learn how to say NO to if you want to become successful. The Rich Do the hard thing first Brian Tracy in his book “Eat That Frog” wrote about the importance of doing the most important thing first thing in the morning. The wisdom behind this is very simple. If you’re like most people, morning is likely to be the most productive time of your life. In the morning, you’re renewed and energized and that’s why successful people spend that time to focus on very important things first.
We all procrastinate and that’s fine provided you’re procrastinating on little things. Don’t wake up in the morning to tackle things that are easy. Tackle things that are difficult and important to your overall progress first thing in the morning. I know someone who gave himself a simple rule, “Never check social media in the morning” Maybe a similar rule can work for you. If you can do away with the TV, Social Media and News in the morning, you can invest your first 5 hours in the day to tackle truly important things and this will help you to succeed faster than most other people. The Rich Visualize success Poor people may try new things but they’ll be uncertain about what the result may be. As for the rich, they always and daily visualize success. Because the rich always expect success, they could put more efforts into getting it. The Rich Avoid Junk Foods Study has shown that 97% of poor people eat more than 300 junk food calories per day. The same study shows that 77% of poor don’t do meaningful exercise.
Eating junks and do no exercise? Hahaha… You see, your health is the most important thing you’ve got. If you lose your health or operate with a low energy, you can’t perform at your best and you can’t succeed or become rich. Watch what goes into your stomach because it determines what comes out of your health. The Rich Avoid reality TV & Social media Study shows that only 6% of wealthy people watch reality TV while 78% of poor people do. How many truly successful people do you know who post selfie on social media every day? You need a low self-esteem to do that and the rich don’t have low self-esteem. We’re not speaking against social media or TV but we think anything that takes several hours from you every day has to be something that makes you a better person. Believe me, the more entertainment you need every day, the poorer you’re likely to be.
The Rich avoid gambling the most popular indigenous website in my country is a gambling website. All over the world, one of the most popular activities is gambling because poor people always expect luck. Well, luck isn’t what you should expect. Luck is what you should go out to look for. Luck is in the bush. Get out and look for it. In summary, if you want to be rich and successful in life; Start your day with motivation Set daily goals that will keep you focused Learn every day Visualize yourself a successful person Say NO to unproductive activities Don’t multi-task. Focus on few things that are most important Do the hard things first thing every morning Avoid junks foods so that you’ll be healthy Avoid spending too much time in front of the TV or social media Gambling is for the losers You enjoy this Article, don’t you? We’ll like to give you another interesting Article for you to enjoy next but before then, our team will be very happy if you can like this Article and share it with your friends on social media. If you’re new on our blog, don’t forget to Follow so you won’t miss other interesting Article like this.
8 REAL Things Poor People Do That The Rich Don’t
DO you really think that the difference between the rich and poor is that, poor people watch TV while the Rich don’t or rich people shower more often compare to the poor? Neither do I, if you suddenly start showering more often or watching less TV, you are not going to get rich because the real difference is in the mentality, in the way, the play the game of money. And in this Post, we are going to take a look at 8 things that poor people do that are keeping them poor.
Number 1, Poor People Play Defense. If you were to play any game strictly on defense, what are the chances of you winning that game? Extremely low or none, right? And yet, most people play the game of money exactly like that. Their primary goal is not to win or to be at the top but rather not to lose. They just want to pay all the bills and stay out of the debt. The problem with this strategy is that when your goal is too simply to be above the water, that's maximum what you will get. Of course, some people are little better than that, they save 10 percent of their income, invest it in the stock market and just hope that the stock market doesn’t collapse so that when they get old, they will have something to rely on. But until then, they will be locked into the comfort zone of a small paycheck! There is absolutely nothing wrong with that, but if your goal is to simply pay the bills, you will just stay wherever you are. If you want to create real wealth, you should stop playing defense and start playing offense and shoot for the stars. As a wise man once said: “If you shoot for the stars, you’ll at least hit the moon.”
Number 2, Next, Poor People Do Not Value Freedom When I say freedom, I do not mean living in a democracy or not. Freedom means living the life that you want, and not the one that someone else wants you to live, doing what you want, how you want and where you want! That's why you find a lot of people say: Money isn’t important! Don't make your life all about money! Or the most famous of them: Money is the root of all evils! And yet you find those people working all of their life from morning till evening for some pennies just to keep the bill collectors away from their house. Doing the job that they wish they can quite, not only because they hate the job, but they also probably hate their boss! And if they had the opportunity, they would quit that job. That's why money equals freedom! So, how do you expect yourself to chase money if you look at it as something negative? Rich people keep getting richer because it gives them more and more freedom to do with their lives what they want.
Number 3, Poor people work hard for their money It sounds a bit controversial, aren’t you suppose to work hard for your money. Let me explain. What do most people do if they want to make more money? They work harder to get promoted and if that’s not enough, they might consider working overtime or getting a second job. The problem with this is that, no matter how much you are paid, at the end of the day, your time is limited. And rich people perfectly understand that, so instead of working hard for their money, they let their money work hard for them. They look at money as a tool that can earn them even more money and not simply a piece of paper they can use to buy what they want like most people treat money. Of course, first you probably will have to work hard for the money, but it's temporary for the rich while it's permanent for the poor. Once you make enough where your money can replace you, you will have more freedom!
Number 4, Poor People Focus On Obstacles One of my friends wants to start a chain of restaurants. In fact, he has been telling me that for the last 3 or 4 years but every time I ask him why he hasn’t started yet, he typical response, I don’t have the money and I don’t want to get into debt. And that’s the problem. Poor people are constantly looking for something to go wrong. In these 4 years, he could have found an investor or at least saved up enough to start. He hasn’t even studied the market, he doesn’t even have a plan. He believes that if he gets the money, the rest will somehow magically happens. But what will end up happening is that, he will just come across another obstacle. It doesn’t matter what business you want to get in, there will always be obstacles, there are millions of things that could go wrong. And if you are like my friend who isn’t doing anything but complains how difficult it is, you are probably in the same dark financial position that he is. Some people are even on a different level, even if they have the money and all the essentials, they will say things such as: What if it doesn’t work? What if people are going to know that I have failed! For God's sake, no one cares about that.
Number 5, Poor people chose to be paid based on time How often do you hear people say, I deserve to be paid 50 bucks an hour or 60 bucks. I have a degree from such and such school, I work harder than any else, I am smarter or more talented. You know what! No one gives a damn, Would you watch this video because I have spent so and so hour creating it? What matters at the end of the day is how much value you can deliver. You might be working harder than Jeff Bezos, but Bezos will be making 4.5 million dollars an hour and you won’t because while you are complaining, his company is providing value to millions of people all around the globe.
Number 6, Poor People resent rich and successful people The other day, I was watching an interview with a successful and quite famous entrepreneur. Then, I scrolled down to read some of the comments and a lot of people were like. This douchbag doesn’t deserve to be on this channel, he is a scumbag. And it really freaked me out, the guy worked hard to be in that position, Even if he has inherited some of his wealth, he is probably much more disciplined than you. Some people seem to have some kind of moral obligation to hate the top 1 percent or certain rich families. Here is a life hack! instead of hating them, how about you join them!
Number 7, poor people think they know everything this is the most ridiculers’ one. What do people do when they face financial problems? They complain about it, there are bazillion number of things you can blame, starting from politicians that run the country and ending it with your boss. But if you tell him to pick up a book and learn even the basics of money management. He will tell you, this is my money and I know how to take care of it, well, if you have figured everything out, why on earth you are always broke. And then they will give you even more excuses. And it's not only about money. But everything else. Haven’t you realized when people get into an argument, they try to prove that they are right, even if they are not, instead of trying to learn? And to be honest, I have had this mentality back when I was a teenager, I was quite stubborn. But then I realized that, If I keep going like this, I am never going to grow, So I stopped acting like I know everything, and start paying attention to my flows and How can I fix them.
Number 8, Poor People Mismanage their money knowing how to manage money isn’t something you are born with, but rather you have to learn. Just because you are making money, doesn’t mean you know how to manage it properly. People think that if they start managing their money, it will restrict their freedom. They don’t want to stick to a certain budget or think hard before buying something. They finally got the paycheck and they want to enjoy it. But the truth is, if you don’t manage your money, you will never achieve financial independence and that short term feeling of mindless satisfaction isn’t real freedom. And secondly, people think that you need to make a lot of money to manage it. Trust me, it gets way more difficult than you think and if you can’t even handle your paycheck properly, do you think you can manage 10 times that amount? By now, you probably have already realized that what makes poor people really poor is a poor mentality and not having money is one of the consequences of that. The good news is that you can change your mentality.
That doesn’t you mean, the next day you will be sitting on a pile of cash. No, but slowly, you will start looking at things differently, you will start thinking differently and instead of complaining, you will start taking advantage of all the opportunities that you are coming across and over time, you will improve your financial situation. A wise man once said: the best way to help the poor is not to become one of them. This Article is based on a book Secrets of the Millionaire Mind by Harv Eker. It's an amazing book, I would recommend Everyone
The 3 Ways To Become A Millionaire
1. Slow lane is get rich slow formula, or get rich old where you will be on a wheelchair! The Slow lane is your typical parent's advice: Go to school, get good grades, graduate, get a good job, save 10%, invest in the stock market, max your 401k, clip coupons…then, someday, when you are, oh, 65, maybe 70 years old, you will be rich. Congratulations, you have made it! The problem with the Slow lane is that you will have to sacrifice your entire life so that you can live your dream life when you are in a wheelchair. Which I don't really like because once you are old, you can’t get back young again, and Time is out of your hands. So as your income, you can’t double it or triple it every year, try asking your boss for a 100 percent raise, you will most likely get fired! So, If you decide to take this path, remember, you are not going to drive that Ferrari while you are young, you are not goanna travel and have adventures because it's quite difficult to do that when you are 70. You will live like a slave waiting for Friday to celebrate your freedom and then get back to slavery on Monday. If Buffet started investing when he was just 11 years and only made his first million by the age of 31. How long do you think it will take you to make even a million dollars when you haven’t even invested a single dime in the stock market yet and you are 25! Nonetheless, it’s probably the best strategy for most people.
Although you will have a boring mediocre life, you will have a financial plan that works! Even if it's not exciting. You will be a millionaire in 30 or 40 years. In fact, a considerable number of millionaires in the US have taken this path. It's safe, secure and guaranteed and better than the second option - The Sidewalk.
2. Sidewalker: The Sildewalkers are usually one step away from bankruptcy, because they are more bothered about living their dream life today and aren’t much into the future. They can even make millions of dollars but still, end up poor like a professional athlete or an actor. Your album fails, you get injured, and you get homeless and file for bankruptcy. Even if you have a prosperous carrier, chances that you will remain a millionaire after you retire are really low. 78% of NFL players are either bankrupt or under financial stress within 2 years of retirement. 60 percent of NBA players go bankrupt after 5 years of ending their career. Imagine making millions of dollars but still go broke. It sounds unbelievable, but that’s what happens when you decide to become a pro athlete. There isn't time for financial education, you have to work hard day and night to be at the top, and there will be people who are more talented than you or simply have better genetics. The numbers of athletes who end up making it to the pro level are less than 1 percent. While you are having the greatest years of your career, you get used to a certain lifestyle that’s completely taken care by your multimillion dollar salary, and once you retire its difficult to get back to an average life. So you go broke in few years. The numbers of athletes who build a sustainable business while making it to the top like Michael Jordan are an extremely small minority. And even those who end up earning 400 million dollars like Tyson did can still go absolutely broke! The worst part about it is that. With the rise of social media, everyone is taking the sidewalk. You pull out your phone and see how these people are driving ferries and living their dream lives. and You don't want to be left behind, You might be working hard, but whatever money you make, you spend it on the next great gadget, on the next trip so that you have something to post on your Instagram. On a more expensive car. Sidewalkers are trapped in such a lifestyle where they are driven by their urgent instant need for pleasure. Every dime you make will directly go to your car payment, clothes, whatever. You are not worried about the future because you think that someday, sometime in the future you will hit big. but you most probably won't. So it's not the wisest option to take!
3. Fast lane And then there is the Fast lane. The whole idea behind it is that, instead of sacrificing today for tomorrow or tomorrow for today. Get out and provide value to as many people as possible. You see most of us are consumers because to provide value, you need to have something first. And most people do not take the time and effort to build themselves up to a point where they will have something to give. Mark Zuckerberg became a billionaire in just a few years because he provided a platform to millions of people to socialize. If you give it a closer a look, the purpose of any business is to give value in different ways, the store besides your house provides you with the groceries, the restaurant downside the road provides you with the food. Your favorite YouTuber provides you with content that you find interesting. Amazon saves you the time and makes shopping much easier! And what makes this path much more appealing than the other two, There is no limit to how much you can make! You want to triple your income in the next 3 month, It's under your control! You don't have to beg your boss for a 5 percent raise like the Slowlaners do. And you are not scarifying your future like the sidewalks do because Fastlaners take that money and buy real estate, patents, businesses that will keep raising their income.
The challenge with the Fastlane is that you will have to spend first an enormous amount of time to create something that will truly bring value to a substantial number of people. Of course, it's not easy, and most people would never be able to do that, because the other path looks more appealing since that’s what being rich means to most people. But “When you finance an $80,000 Mercedes Benz over six years because that's all you could afford, that isn't wealth, but the impersonation of wealth. You are Fooling yourself. It still blows my mind how people travel while not having even a thousand dollars in their savings account. Wealth isn't embodied in a car or clothes but in the freedom to know that you can buy it. That's why it's easy to find self-made not only millionaire but billionaires who are cheap because they know that they have the freedom to afford pretty much anything anytime they want. On the other side, you have people who haven't paid their students loans yet but are completely comfortable to take another loan to show everyone how successful they are. People don’t choose to be poor.
They make poor decisions that slowly lead them into that direction. Conclusion So here are the 3 financial roads that you can take to become a millionaire. Of course, the Fastlane is the most rewarding one where you can become a millionaire in just a few years and stay one for the rest of your life., but its also the most challenging one, which is why most people won't take it, but being a Sidewalker isn't sustainable, that's why the Slowlane is probably the best option for most people. This Article is based on a book, the Millionaire Fastlane by MJ Demarco, It's a brilliant read which I recommend to everyone. It's quite different from all other books on this subject.
Why The Rich End up Poor But The Wealthy Enjoy Life
Why The Rich End up Poor But The Wealthy Enjoy Life
In 1997 Robert Kiyosaki published a personal finance book called Rich Dad Poor Dad. The book instantly became a phenomenal success and in no time catapulted Kiyosaki to the world of fame. In one of his books he mentions that there is a disparity between being rich and being wealthy and he went on and said something surprising that the rich have lots of money but the wealthy don't worry about money. And I found this very interesting because I've always thought that the two go hand in glove that if you're rich then you're also wealthy and that if you're wealthy then you're probably living a very comfortable life. But this isn't always true, when I think about someone who's rich, I think about someone with a lot of money and I typically think about someone who's quite showy with their money.
They drive fancy cars and live in a fancy house they wear fancy clothes and eat at fancy restaurants. Growing up I wanted to be rich, I wanted to own a big house, live in a fancy neighbourhood, drive a luxury car and buy expensive clothes, I wanted to sit in the best seats at sporting events and travel the world any time I wished. Heck I wanted to go to Mars and I've got to be honest some of those things still sound good to me now.
Kiyosaki said the rich have lots of money but the wealthy don't worry about money. I thought about this for a while, the wealthy don't worry about money. Growing up I've lived in a relatively financially stable family, we're not rich but we're not poor either we're middle-class if you will. Both my parents work nine to five jobs and they work really hard to provide for me and my siblings somehow they've managed to pay for mine in my siblings tuition while at the same time making sure we have food to eat and a roof over our heads. I can't say things have always been rosy there have been months where money was a serious concern and we weren't sure whether they would manage to pay for all our tuition, bills, and expenses. I watched my parents struggle and I didn't ever want to live a life like that and when I read that statement the wealthy don't worry about money.
I thought to myself well that must be a really nice thing to have. Imagine never having to ever worry about money, who wouldn't want that? I want to be wealthy and rich so I decided to do a bit of digging to try and find out the difference you see having lots of money is nice and all but I believe not ever having to worry about money is even better. So after a bit of research this is what I found out and I think this might surprise you a lot. There actually is a difference between being rich and being wealthy. The simple difference between a rich person and a wealthy person is that a wealthy person has sustainable wealth, in other words a wealthy person will always be wealthy. Whereas someone who is merely rich will only be rich for a short period of time until the money runs out. I'm sure a lot of you have heard stories of rich actors, celebrities, professional athletes and so on who were once living fancy lifestyles with big houses, nice cars, expensive clothes and vacationing all over the world, but are now on the verge of financial bankruptcy because of poor financial skills and trying to sustain this kind of lifestyle for many years.
You've heard of the lottery winner who went to bed one night in debt and woke up the next day an instant millionaire, but due to poor financial management, ends back up where they started or in an even worse situation. So let's use Lucas as an example, Lucas is a surgeon with an annual income of $310,000 most of this income is earned from his work with only 5% coming from some investments a couple of his colleagues enticed him to invest in. By all accounts and standards, Lucas is a rich man, he has a big house, he's living in a good neighborhood, he has two luxury cars, one for himself and the other he bought for his wife. His children go to good private schools and he has membership in the local Country Club. So clearly Lucas has lots of money at his disposal, so he uses this money to make sure he fits in and looks the part of a respectable surgeon in society, obviously Lucas has expenses, as does every other person, he has a mortgage to pay, he has transportation costs, he has to feed his young family, he has to pay health insurance, he has to pay taxes, he has to put aside money for his kid's college fund and he has to buy another expensive anniversary gift this year. Did I mention the annual vacation he takes with his family? When you subtract these expenditures from his annual income, then remove the savings and the little investments he makes here and there, Lucas is not left with much. In total Lucas spends about $21,500 every month on expenditures and he has savings amounting to $43,500 in his bank account. And so since wealth is defined as the status of an individual's financial resources to sustain the individual's way of living, for a long period of time even if the individual stops working.
In essence, this is money coming in on a consistent basis that's able to sustain your current standard of living for many years. This means that should Lucas lose his job today together with all the benefits accruing from it, Lucas should be able to feed his family for only two months. After which he'll immediately need to find an alternative source of income. Lucas is rich, he's not wealthy. Now let's look at an example of a wealthy person. Kiyosaki said that while the rich have lots of money the wealthy don't really have to worry about money. Let's look at Bill Gates. Bill Gates is one of the richest men in the world he's a business magnate, an investor, a philanthropist, a humanitarian and an author. As of early 2018, Bill Gates was worth a mammoth $97.4 Billion Dollars. It's estimated that every second, Bill Gates earns about one hundred and thirty dollars, which translates to around $78,000 every minute. This is to say that in an hour bill makes more money than Lucas earns after a whole year of working, yet Lucas is considered rich. Being wealthy is essentially being financially free.
This means that you don't live paycheck to paycheck and you don't necessarily need to make any more money over a long period of time, because you have enough money saved or passive income flowing in from your assets and investments to maintain your current lifestyle for the rest of your life. Bill Gates doesn't actively work for the $135 that he made this second or the almost $78,000 he will learn by the end of this video. This is passive income that he gets in his sleep when he is playing golf and when he is giving away four billion dollars annually to cause us that he cares about. Wealth is sustainable richness, basically a rich person who never runs out of money. If Lucas quits his job today, he will most likely get bumped into the middle-class. If Bill Gates decided to retire today and become a sedentary person who eats sleeps and eats again, he could maintain his current lifestyle for the next 213 years. But you don't necessarily need to have gates kind of money, or own a large business like Microsoft. As long as you have income flowing in that you're not directly working for, such that if you were to stop working today but you can still maintain your current standard of living, then you are considered wealthy.
Usually when you think of a rich person, you think of someone who buys both their wants and their needs. You know the $5,000 suit, the $3,000 watch, a luxury imported car, usually German made. The big house on the beach and so on. Just because someone exhibits these "Rich behavior’s" it doesn't mean that they have their personal finances in order, sometimes these people you consider rich are actually living paycheck to paycheck or drowning in debt. Many people who say I want to be rich aren't actually looking for financial security, what they want is the social status and prestige they associate with a million dollars Club. So now I pose this question to you, do you want to be rich or do you want to be wealthy? and if so how?
How To Make Money On Fiverr
HOW TO MAKE MONEY ON fiverr
By: John Crestani
I'm John Crestani. I've made millions online without any employees and in this Article, I'm going to show you how you can make money online using the website fiverr.com and I'm going to be walking you through that right here on my laptop. Showing you every step the way Fiverr, if you're not familiar with it, is a task site. It’s a job site where you can post, where you can buy jobs for $5 of people looking to do stuff for you or you could sell you know different tasks.
You could have post up things you can do for people such as voiceovers, a logo design or audits or giving them access to books or whatever. And you can make money. Now, the way Fiverr works is most jobs are $5 and the website itself takes a $1 cut of every job or 20%. Fiverr started with only $5 jobs but now you can post jobs for more money than just $5. But I'm going to walk you through some of the steps. Now an important part of Fiverr is obviously you can get people contacting you for jobs or buying jobs from you. But what's even more interesting and what's kind of my methodology to making money from Fiverr is do jobs for $5 but have upsells, okay? Have other projects that you would do for far more amounts of money for people you know.
Maybe somebody wants you to create a web logo for their website but maybe what that person really wants is a website and you can charge let's say a thousand or $2,000 to design a full website for somebody. So just because you're doing logo designs for $5, doesn't mean you can't capture the big money in upsells and that's what I'm going to be talking about. So here I am on Fiverr, as you can see the website is just Fiverr with two r's dot-com. Now, there's a lot of different categories. A lot of the categories on Fiverr are related to marketing. That's because most the people who use Fiverr doing some sort of online marketing or web design or website related tasks. As we see here from the categories, the categories are graphics and design, digital marketing, writing and translation, video and automation, animation, programming business and lifestyle. You can kind of get an idea of what are the most popular categories by what's farthest over to the right graphics design, digital marketing and writing translation and video and animation. These are the major categories of Fiverr if you're looking to get jobs.
So let's look over here. Logo design is one of the most common things that people use Fiverr for and you can see a bunch of jobs over here. So we have a job at $300, job at $10, $50, $80. Again, not all of the prices are $5 anymore. But you can post up whatever you want on Fiverr and make money doing it. I will design an awesome business logo with something or another, okay? Now it's going to be a little hard to compete on Fiverr if your prices are so high. The reason why most people go to Fiverr in the first place is because they want something for $5. So my suggestion is figure out what you can offer for $5 or cheap. You know under $25 because that's going to get the most people coming to your listing. Now what I did when I got started on Fiverr, I used Fiverr to help me grow my consulting business. I used to manage clients' advertising accounts and my goal was to sell my services and manage somebody's online ads or their Google AdWords account for a thousand dollars a month. That was the goal I had in mind because I want... I knew if I could have five to ten clients per month paying me $1,000 that I'd basically I was working for myself and I was making a good income doing so. So what I used to offer was I would offer my services in the digital marketing category of Fiverr and I would offer my services in this category. SEM, okay? So what I did was I offered free audits of somebody's Google advertising campaigns. I'd also... So I would offer little things I could do such as you see a lot of people here are providing keywords, PPC keywords for the business or people are offering to optimize a campaign or different little aspects of advertising.
They would all that you can offer little jobs but not the full shebang for as cheap as you can possibly justify. Now what I did was I did ever anything I could. I will write text ads, I did this. I said I would write ads for somebody's business. I said I will... I never said I would manage somebody's PPC for $25 but I would write ads for somebody's business, I would find keywords for somebody's business for $5. I said I will help somebody find an optimization. I also would do an audit of somebody's business. I said I will do an audit of your business. Now, the way I used Fiverr was as a loss leader. I figured if I could get on the phone with somebody, if I could get somebody a potential client lead to talk to on the phone for $5, that was worth it, I looked at it not as a way to make money, I looked at it as a way to get leads for my business. And that mentality is a little different from some of the people that you see on the Fiverr that I brought up. People are actually looking at Fiverr as an income source. I looked at it as a lead source for my business. And $5 for a lead, that's a great way to get in a conversation with a customer. In fact, you're having the customer pay you even if it's only $5, most businesses have to actually spend money on advertising just to get somebody to contact them. In this case, I've reversed the proposition so instead of spending money to get a customer to talk to me, I'm actually simply you know... I'm actually having them pay me even if it's a little bit of money. Now, my whole strategy on Fiverr was built around upsells.
My goal was to get people on the phone with me and also them be able to demonstrate my superior knowledge of Google advertising which is what I was an expert at. My jobs were $5 but my main offer as anywhere from 500 to a thousand dollars for ad management. Now, most of the time, most people that are looking to spend $5 will not go and spend $500 per month with you. But the reality was some of the people were and I got business by posting jobs on Fiverr and I was able to turn those into clients that paid me consistently for my business. I take a different, a slightly different approach to Fiverr than other people you'll see on blogs. You can research other blog articles and find out people are showing how you can you know get started on Fiverr with no skills offering you know. Access to e-books or you can also find people that are finding nifty ways to kind of like try to trick Fiverr, get money from Fiverr and all of those things are short-term tactics. I like using fiber as a lead generation tool for my business. But again, the point was to get people on the phone with me so I could create a client for my business. So I hope that shows you like one way you can use Fiverr to make money for your business. My business was purely online.
You know managing people's Google Ads accounts but whatever you're doing for business, you can probably find a category within Fiverr to offer value in and to do jobs for people. Remember, if you look at it as a way to start a conversation with a potential customer who can pay you more money, then Fiverr is a great great tool. You're not going to make a lot of money. You know posting jobs up for a few bucks but you can certainly make a living doing that. Hopefully this helps. Now if this Article helped you in any way, shape or form give this a big like and also subscribe to my blog if you want to learn more about what I do. I make millions of dollars per year doing affiliate marketing. Marketing other people's products on the commission only basis. Thanks for Reading.
5 Steps To Start An Internet Business
5 Steps To Start An Internet Business
By: John Crestani
So, you want to start an internet business? Well, I've made millions online and I made 3.4 million dollars last year. And I'm going to show you 5 steps you can take to starting your very own internet business. I've taught thousands of people how to start their own internet businesses. And hopefully this will help you start your own. Let's get into it.
So, starting an internet business is a super honorable pursuit because it gives you that freedom you want of location. And you get freedom of time. All you have to do is work from an internet connection. You can be anywhere in the world. And it's so exciting. That was the reason why I started my internet business. And I've traveled all over the world over 50 countries while I was running my business making a pretty good amount of money. And it's been so exciting this journey. I'm home more often but I make a lot of money and I have the freedom to do whatever I want with my time. So that's really exciting. And I applaud you for doing that. I'm going to go over the 5 steps I would take to start an internet business.
Now, the first thing you want to do is you want to do research on your particular business that you're trying to start. There's a number of different businesses that you can start on the internet. There's e-commerce which is selling goods on amazon, ebay or you know, drop shipping via shopify. There's also starting an ad agency. So you can offer marketing services to other companies around the world and charge them money. Okay? For offering your marketing services to them. Or you could do what I do which is affiliate marketing which doesn't require any customers support. It doesn't require any sort of product or shipping or fulfillment. Or all of those kind of hassles that e-commerce has. Other sorts of businesses you can start online include consulting where you can work with individuals or coaching and consulting. They're kind of 2 sides of the same coin. Where you offer individuals or businesses advice on how they could do whatever they want to do better. You could build software. You could build application or software apps.
Either as an agency or just to make money off upon a recurring basis. And what you can also do is be an influencer and make money from your prominent son, Instagram or YouTube or Facebook or whatever platform it is. That you're using. So, there's a number of different business models within the internet realm. But understanding how each of them work is important. And understanding what's available and what's real. Now, there are other opportunities that people may name that you can do. Like you know... Just click on ads and random stuff. But there's also a lot of scams that you need to understand out there. So, do you your research on the business model before you jump into it. You're not just going to click on an ad one day and suddenly wake up with a million dollars in your bank account. That's not how it happens. Do your research on the business model that you're interested in going into.
Next thing you want to do about whatever business that you're interested in or businesses that you're interested is learn. And you're doing that right now. Learn... Watch a bunch of YouTube, Articles. Frankly. Just watch a bunch of YouTube Articles on whatever topic it is that you're most interested in. Let's say it's consulting or let's say it's starting and ad agency or let's say it's affiliate marketing or E-commerce. Learn. Spend time learning. Grab a bunch of YouTubers in that specific topic and just keep learning. Google things. Understand the business model and get a sense for what the ins and the outs and the moving pieces in that business model are. So you can become familiar with the jargon, with the verbage, with the words. And ultimately, that will give you a much better chance of succeeding in whatever you're going into. Now, after you've done a bit of research and you've learned about the business models that are available to you which ever ones you're interested in. You need to decide, okay? This is the time where you need to decide and what you want o do, okay? What business model are you most interested in. And are you going to really deep dive learn about? Okay? So, I'd say learn about specific business model that you think you're more up to. You know? For affiliate marketing, I would say, obviously, it's more marketing prone. You know, if you like putting up ads and if you like... You know, it's kind of a mixture of empathy of kind of like understanding people and needs and desires of what people want.
And it's also little bit of kind of just mathematical stuff. Kind of like understand split testing and analysis. E-commerce is really fit for accountants because there's... In e-commerce, there's lots of accounting you have to do. You have to spend a lot of money. And you have to come out a lot of money and you have to do a lot of product analysis. Becoming an influencer is good for people who are great networkers and great on social media and who look good or don't look good or sound good, etc. And consulting and running an agency is very good for people who are good at management whereas consulting is really good for people who are good at sales and good at selling themselves. That's sort of similar agency as well. So, once you've decided upon what you want to do and you've done your research, etc. You want to take deep dive into things. I would recommend taking a step by step course. And some people will say, "Oh, John. You're just trying to... You sell a marketing course. You're just trying to get people by your marketing course." Well, you suck. No, it's fine. I'm joking. But what you want to do is you want to deep dive into things. Because there's purpose for education. It's step by step by step. It's chronological. If you Google amazon FBA or how to start an ad agency on Google, you will find 10 gazillion results. There's a million ways to do things. And on the internet, likely what you get is a piece by piece ways of doing things. You'll have to... Frankenstein everything together.
The reason I came out with an educational course on affiliate marketing was to give people a step by step process to follow for 6 weeks. Take them from knowing nothing to having their affiliate marketing business set up and hopefully generating sales. Now, whatever you decide to do, you know, I'm one teacher and affiliate marketing is one business model. It's not the only business model. It's not necessarily the best business model. But it's the one I happen to know most about. There are other experts such as Alex Becker in e-commerce. Or Sam Ovens in Consulting. Tai Lopez teaches how to start an add agency. But in general, what you want to do is you want to take a course. Really, I'd say there's 2 big requirements. There are 2 big ways you can select your teacher is, you know, ask you self (1) have they done it? Okay? Have they actually done it? Or are they just selling it? Okay? And now, I'm not going to name names here. But there are some gurus out there who are quite prominent on YouTube who sell it but they haven't actually done it before.
You know? And personally, I don't know if Tai Lopez has actually ever ran a social media marketing agency. I don't know. I think... But who knows? I don't know him that well. But the point is, there are gurus out there who sell it but haven't actually done it. And that's kind of dangerous. Because then you're getting second hand knowledge. And then there's a second thing to ask yourself is does this person have what I want to have, okay? And if you're learning from a teacher who is living in dinky house who doesn't have a lot of money, who isn't very rich and you want to become rich, that's not a good person to learn from. Learn from somebody who has, who is where you want to be. And there's a whole reason why I don't think college is always for business students as the best idea but whatever. We won't go into that.
So, do a deep dive. Give a step by step plan. This will accelerate your success. If you have all the time in the world, feel free. You know? Like, just learn stuff for free for a long time. But again, that's a dangerous route because there are real cost to running a business and there are real cost to your time. You know, there's so much material on the internet right now. It's not all step by step. And number 5 is after you've gone through all of this, COMMIT, okay? Commit yourself for 6 months. Okay, that may sound pretty hard and pretty drastic. And you may say, "Well, you know, I'm millenial. I want to keep my options open, man. You can't tell me what to do for 6 months." It's okay. Do what you want. Keep your options open, be a little loose butterfly and do what you want. Frankly I don't care what you do. Okay? But the reality is the biggest problem I've seen with younger people is that they can't commit themselves for any period of time.
They jump around from thing to thing to thing. You will never have success going from one thing to other to the other to the other to the other. It doesn't happen that way. Think of it like a race, okay? This is the starting line. This is the finish line, okay? If you have a bunch of people that are going to go on a race, this person runs very slowly. This person runs very fast. But then they decide to do something different. And they run fast and the decide to do something different. They run fast and the decide to do something different. Even if this person is super fast, if the last smart or whatever person just continues on, slowly but surely, that person will win. Now, I don't know programming. I don't have any technical skills. I'm not necessarily... You know, I didn't do well in school. But I stick to things. I'm focused. And the reason why I've been successful and why some of my peers haven't is because I've stayed the same track for a relative period of time.
Now, my friends who are more successful. I have friends who have much more money than me. The reason they've been more successful for me or one of the patterns I've seen is they've stayed in the same path for many more years, okay? They just stuck to it. You know, I've this one friend, Steve. We started a business together back in 2013 . And I changed businesses. I ran a business with him for years or so. Yeah, I was a little over a year I think. Then I changed businesses. Because I wanted to do affiliate marketing. Then I start affiliate marketing. And within a few years later I was making multiple millions per year. Where Steve, Steve now runs a business that does... I don't know, something like, 20 to 50 million dollars per year. Way more than me. It's because he stuck to it. And all of my friends who've I've seen become massively successful have stuck to the same thing for just a longer period of time. But they've been committed. And they've figured out a way to make it work. So, that's what I encourage you to do. Hopefully this gives you an idea of 5 steps to starting an internet business. If you got some value from this Article, give it a like and comment .Looking forward to seeing you in the future Article. Peace!
8 Things Poor People Do That Rich People DON'T
8 Things Poor People Do That Rich People DON'T
One of the main differences between poor people and rich people is the way they think. Yes, that's the foundation of everything different between those two types of people. In light of that, what are the different aspects of this "poor person mentality" that need to be changed in order to think like the rich? In today's episode, I'm going to break it down for you, check it out.
Differences between the poor and the rich
1 - React to others / Make others react to them
2 - Give advice / Listen to advice
3 - Watch / Read
4 - Trade time for money / Trade results for money
5 - Saving / Earning
6 - Evil / Good
7 - Blame others / Responsibility
8 - Lottery / Action Mentality
Hey, I'm John Crestani, I'm an entrepreneur. And in this Article, I'm going to go over the 8 key differences between poor and rich people in terms of their mentality which is the most important thing that you can have. if you want to become successful. Keep reading and I'm going to explain all of the key differences to help you on that path to success if you're with me. Money ain't that bad, right? Well, unfortunately there are a lot of people who think it is. And in this Article, I'm going to go over the mindset differences the poor versus the rich. But it's important for you to understand and I don't say this to brag. But I've made tens of millions of dollars in my business. And I earn in the top 1% of people in the United States for years. I became a millionaire in my 20s. And I run a business that does roughly seven million dollars per year without any employees.
So, I say that not to impress you but to speak hope you understand that I'm speaking from a place of some experience. Not as much as most. And not where I want to be. But hopefully I can convey a little bit of information to you about the differences between poor versus rich that you may not be learning in colleges. And obviously money ain't that bad so let's not get too caught up in it. Let's get our minds straight.
Now, first thing to understand is poor people react. Poor people react to the notifications on their phone. Poor people react to the requests of others. Reacting to others will leave you in a cycle where you never fully define yourself. Rich people make others react to them. So, that's the important thing to understand between these 2. Now, for me, I realized that this was causing me to... It was taking up a lot of my time. And I actually turned off all notifications on my phone. I deleted social media apps from my phone. I get a text message, nothing happens. That little light, it doesn't blink. The buzzer, it never goes off. When that somebody calls me, it never rings. When somebody calls me, that blinky light never lights up because I've made it so that I am never reacting to others. Others only react to me. And when I need to check my text messages or my emails, I go on my phone when I choose. As opposed to others telling me where my mind should go.
The next key distinction between poor verse rich mentality is that poor people give advice. You may have heard of the old dodge. We have two ears and one mouth. And that holds true for anything in life. You should be always be a better listener than you are an advice giver. Whenever I'm around people, I ask questions. Whenever I go in a lift cab or an uber, I sit in the front seat and I asked that person about what is the local economy like. What is your culture like? What is the country are from like? I ask a million questions but I never offer advice. That's how you train your brain. That's how you learn. Giving advice doesn't serve you.
So, the next thing to understand is poor people watch. Whereas wealthy people read. I don't know how to explain this other than. You're going to get more knowledge from books. Watching TV and doing passive kind of passive kind of entertainment methods or outlets is not a way to train your brain to learn more. It's not a way to train your imagination to think of creative or original thoughts. Watching just allows you to experience life vicariously. Whereas reading allows you to create, you know, it forces your imagination to open up. It forces your mind to think on a higher level whereas the TV forces you to tune down and turn down your energy. Have you ever tried to talk to somebody who's been watching TV for an hour? And they're like this and you try to say something to them but they don't hear you? It's because your brain literally shuts down while you're watching screens or movies. You can't process things. You're literally dumbing yourself down for a while. Instead of forcing yourself to think up by reading books. I read a lot of books. I read a lot of science fiction books. I read a lot of business books to always learn more. And read a lot of relationship books to help my relationship too.
The next thing to understand about poor versus rich is that poor people trade time for money. Whereas rich people trade results for money. Now, Elon Musk for instance will get paid 2.3 billion dollars over the next couple of years not because he was paid a high hourly wage. Not because who's paid him high monthly salary. It is because his stock goes up. Because he sold more Tesla's than his stockholders thought he would. I don't make my money because I charge people a high hourly wage to hire me to do marketing for them. I make my money because I get results for companies. I make more sales for them, I send them more customers and they pay me more commissions for my marketing efforts. A normal company wouldn't pay somebody $1,000 an hour but that's what I make on average a day, a normal company. But they will pay me to bring them results. If I create for them sixteen thousand dollars a day worth of business, they will happily pay me half of that because I created that and I can also turn it off for them at any point if I wish to. Have you ever heard the old of Dodge a penny saved, is a penny earned. It's still a freaking penny. And you're not going to make money if you're focused on saving every single penny or nickel or dime that you make. That's a good way to stay poor. A good way to become rich is to earn. To focus on earning rather than saving. And frankly, when you don't have to worry about saving every dime, life is a lot more fun and you get a lot more freedom to do the things that you like. Now, I shoot this money gun up because... Well, first off, it's fun. But it also is to show you that a lot of people will hate on this. A lot of people think that this is crude. And you shouldn't treat money like fat, frankly. But the difference between poor versus rich mentality is that poor people think money is evil. That it's not good to have too much money. That you shouldn't put it in people's faces or you shouldn't do fancy things. You shouldn't buy a Lamborghini. Don't tell people about that yacht. Don't go on expensive trips in other people's faces. Money is not evil.
Rich people think money is actually the source of good. And when you have money, you're able to actually do better things. Whether that's... You know, for me it's being able to hire a nanny. You know, being able to hire doulas for my wife. Being able to have a nice house for my family. Being able to buy a horse for my daughter. Being able to build a horse trail in our backyard. You know for me and my daughter to ride horses on, etc. I believe money's great because it solves a lot of problems. And I believe it can solve a lot of problems for other people as well. I help a lot of people that are in my inner circle and a lot of people benefit. And I've made my students highly successful by being able to create innovate better and better training programs for them.
The next thing to understand is that poor people blame others. When something goes wrong, when the finances are bad, when the you know, there's not you know, there's not enough work, right? Or "My boss is an asshole." Or you know... "Business is bad. The economy's bad. Trump's killing our economy." Whatever it is, it's always outside of yourself. It's never your fault. Nothing's ever your fault. Your relationship, it's not your fault that you have a bad relationship. It's her fault or it's his fault, right? Can't be your fault? You were late. You weren't late because it was your fault. You were late because there was traffic, right? And that traffic made you late. How many people here have used the traffic excuse? And if you have used the traffic excuse, just say "guilty" okay? In the comments, just go down there and write guilty. If you've ever blamed the reason you were late on traffic. It wasn't traffic. You didn't plan correctly. So, if you understand what I'm saying, type in guilty in the comments below. And frankly, if you are guilty of any of these things, type in "guilty".
Now, the last key difference between the poor and the rich mentality. It's the lottery versus the action mentality. Now, what this mentality is. is that something good is going to happen to you. Eventually you will find that thing. Eventually you will come across that secret way to make money trading stocks or you'll figure out that secret real estate method. Or you'll come across the right internet guru and he will have the magical system which will make everything all right and he'll show you exactly how to step by step make money online. Now, the fact of the matter is if you have a lottery mentality, no matter which teacher you decide to follow, whether it's in YouTube or life or no matter what boss you decide to work for, you are going to severely limit yourself as chances at becoming rich. Whereas if you take the action mentality to life, you can become wealthy.
Now, I want you to imagine for a second that you are completely in control of your life. That anything you wish for can happen. Then anything you imagine that you want where you want to be you can have. But in order to have everything you want, you need to take full responsibility for everything that goes on in your life. Is your relationship where you want it to be? It's your fault. Or your finances where you want them to be? It's your fault. And is your health exactly where you want it to be? It's your fault. Now, you are completely in control of your life. And you can have whatever it is you want. But to do so, you're going to have to take control and realize that all of these things --your relationship, your finances, your health are your fault. And that's not an easy pill to swallow. It isn't. Really isn't. But it is. And once you realize that, then you're in control. Because now, you are the responsible one. And for those of you willing to play along with me and take responsibility, I encourage you let's look at this list again. Do you react to others? Others being your phone, your notifications, your messages, your texts, your whatsapp, your Facebook notifications.
You ever spend more time giving advice than asking questions? Do you ever watch more than you read? Do you ever... Do you trade your time for money rather than trading your results for money? Do you focus on saving rather than earning? Now, if you're willing to play along, type in the comments if one of those apply to you. Type in "guilty". Then after guilty type in "I...." Whatever you commit to. "I commit to not reacting to my phone" Or 'I commit to taking more action or reading more". Whatever speaks to you the most. Commit to something. Taking responsibility. Whatever speaks to you the most. Commit to something and write it down. And put it out there in the comments for others to see because it makes it more real. Now, I hope this Article has helped you. And hopefully a little way. Because you know, as a teacher and as an entrepreneur and as a marketer, I feel it's my duty to help others grow as well and learn the same lessons I've learned. And if this has helped you in any way, I encourage you share this Article with somebody else. Share this Article on your newsfeed or your Twitter or your Instagram or whatever that may be. And subscribe to my blog if you'd like to read more articles. I go over lots of different ways that you know, tactics and strategies that you can do marketing or living or being entrepreneur like I have. And give this article a big like. And look forward to hopefully seeing you commit to something new in the comments. Talk to you soon.
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