I can afford any money manager i want
and
you are as knowledgeable
as the money manager that i have i'm
very impressed with your ability to
explain these concepts there are certain
people that are only going to listen to
you, they now have access to i'm telling
you world-class information.
Wealthy people do three things man
they stop trading time for money,
they make their money work for them
and they give as much value to people as
they can and so i learned that as i got
older, that part really didn't make sense
to me at the time ,but the money working
for you part and i was like what the how
do you make your money work for you
again all i know is how to go get money
so he says wealthy people.
First they get into stocks then they
start a business and then they get real
estate i took my time i researched the
warren buffett's and the
peter lynch's and i'm not going to lie
in the beginning that I was like
chinese .
To me
right this is a foreign language and so
what happened to me,
was it started reminding me of being in
the streets
everything about it and i heard this
term one time i said the real gangsters
are on wall street once you know how
something works then you can get good at
it but if you and and i really think the
vast majority of humanity and i don't
care what class you're in the vast
majority of humanity does not understand
how the world works yep therefore they
are at the mercy of the world and the
people that figure out how it works can
change things you know you have to
understand
how things work and like yeah that's
that is to me what is so powerful about
you
you understand a game that a lot of
people that are disenfranchised
understand the streets and you're saying
this is just physics let
me show you the correlate over here it's
all the same shifts
that's it and so that's that's important
for me the understanding the basics and
the fundamentals like once you start
understanding the fundamentals you give
yourself power because you now
understand like you said you see how the
machine works
right and so most people look at the
machine and marvel and say either i'm
like most people look at the stock
market most
98 of the people who i know look at the
stock market say yo that's not a game i
can play
i'm staying away from it and so the ways
the way it's set up is
the world is set up well listen cool i
don't even want you to play just give me
your money i'll play it for you so we
look at like banks like we understand
that banks don't necessarily work in our
favor
right so banks only give us 0.05 percent
interest on the money we have there well
we can get eight percent just by putting
our money in the index fund so why would
i just set my money in the bank and let
the bank make all the money because all
they going to do is invest the money for
you so they now operating as the plug
they operate now as the man who i'm
gonna front you this i'm gonna make my
money i'm gonna take the cut i'm gonna
give you just enough to keep coming back
i'm gonna go to the plug who's the plug
the stock market
right and so once i understood the
fundamentals of like the most important
thing too
is we don't understand how money works
that's a whole different language in its
own
the relationship with money in my
community is you make money
just enough to pay bills and so once you
get tired of paying bills you say you
know what i need to treat myself to
something right no matter if i got to go
in debt no matter if i i need to treat
myself to something to take this misery
away
so you treat yourself to something that
you can't afford at the time
right but it makes you feel good in the
moment
and so because it makes you feel good
you say you know what
i'm living this is a reprieve from
everyday struggle
let me get back on the hamster wheel
and so the sacrifice now becomes hard
because now you're saying i gotta work
work work and never get that reprieve
i'm not willing to do that
right and so that's the mindset comes in
and say everybody around me
had the same problem
no one represented the solution
so if i don't change something i'm only
going to end up like everybody else i
know
somebody has the solution somewhere
there's too many people out here living
the life of their dreams that i'm
watching they know something i don't
know and the only thing that they had
was access to a different type of
information
so once i went got the information i now
wanted to sing from the mountains i was
like yo look at this dope thing i found
everybody gonna be a part of it and then
when i showed it to people it was like
that ain't it bro
i'm not about to do that and so
i realized how powerful it was for me to
one become economically
like powerful
in my mind
because the thing about investing
especially in stocks is that piece of
ownership of everything that i use
now makes me say whatever i own that
apple
god i don't care about buying an apple
phone if i'm gonna wear levi's and i'm
gonna wear timberlands if i can own vfc
corp then i own the stuff that i'm
buying i'm okay with that like that
subtle shift in my mindset
changed everything for me because now i
was after just owning everything that i
consumed in the beginning that was my
introduction to the game let me just own
everything i consume and then i'll feel
okay owning a stock is like it's owning
a percentage of a great business
and so once i understood that concept
i understood that the key to wealth is
through ownership
like that's what that was one of the
things that made it click because i
studied the wealthy people the key to
building wealth is not how much you can
work
you can't work your way to wealth you
got to investigator in all wealthy
people black white asian chinese they
own a whole bunch of
[ __ ] the people who aren't wealthy is
because they don't own nothing
you only have your money sitting in cash
if your money is just sitting in cash
realistically you're becoming poorer
every day right or they own depreciating
assets and that's what cash is it's a
depreciating asset because the more
money they print the more money that
money loses value so if it's just
sitting it's the reason why the bank
wants you to have your money there so
they can take it and use it and invest
it so much and be like hey this is 50
cents on whatever you had in it
and so the idea of ownership was yo we
can just start owning
everything that we no matter if it just
a stock
like that's powerful because if you can
start owning the businesses that you now
consume every day you turn a one-time
transaction to a lifetime of profit
because if i go to the store and buy a
pair of nikes
that's a one-time transaction in order
for me to get something from them again
i got to come back and buy another pair
of nikes but if i own the nike stock
long as i own it it's a profitable um
vehicle for me so that one time
transaction can become a lifetime of
profit if i own
that business and another great thing
about the stock market is it makes me
pay attention to the world
and so now i understand what's going on
in the world i started learning business
cycles market cycles you know i'm like
because now i can understand yo
this is okay things are going out of
business it's okay we're in this cycle
okay people are hiring okay we're in
expansion cycle and so now i started to
take i took an economic class on my own
without
just understanding the world and so you
start understanding when something is
happening in china okay something
happening in china so i own apple apple
has 20 percent of revenue in china okay
they might take a little hit right now
what do you say to people that don't
think they have enough money to invest
[Music]
so the important thing for me to tell
them is start where you are you build
the mansion you build an empire you
build it brick by brick like you start
with 25 if you can do 25 a month that's
cool if you can do 25 a week that's cool
but what happens is once you start
understanding the power of how your
money works you start saying yo i don't
need to do that because that's taken
away from this
let me that 25 will now become 50
guaranteed
that 50 will not become 100 because
you're going to start doing more with
less the person who works out and sees
that they drop ten pounds in two weeks
says you know what i'm gonna go a little
harder because i know if i can drop 10 i
can drop 20.
right i know if i can get if i see one
muscle shape up i know it's possible
the word possible is so powerful
possible changes the game
instead of it being impossible we now
say i am possible i i'm
possible that changes the dynamic so the
first mindset is saying invest in your
first stop it don't have to be a winner
it doesn't have to be a home run it can
be an atnt stock that costs 26 right now
it may not be the best investment in the
world but you started
right and the great thing about anything
is you can't be great if you never go to
practice you can't hit 81 if you never
get in the gym
so just get in the gym
and then find somebody who can teach you
be dedicated to understand the process
warren buffett said he reads 500 pages a
day we have to understand the power and
learning and being educated man.
https://youtu.be/LJB61Ji7oo0
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