once you're to think about something in
your entire life how much money have you
ever made let me explain what I mean by
that when you were 15 years old you
probably got your first check ever for
maybe mowing lawns or helping out with
yard work or something like that and you
probably made around $100 if that right
from that time until right now I don't
know if you're 28 years old I don't know
anything in your entire life how much
money total has passed through your
hands maybe you made $50,000 last year
at 28 years old maybe the first time you
ever got a check in your entire life or
any amount of money was when you were 13
years old mowing the lawn for your
parents I want you to add up every
single one of those numbers since you
were 13 years old until you're right now
and I want you to come up with a single
number now that number might be a
hundred thousand it might be a million
it might be ten million right it depends
on who you are how much money you make
and how old you are but the real
question is this how much money of that
total do you actually have in your
wallet right how much money of that
total number do you actually have saved
inside of your checking account or
inside of investments or inside of your
bank account and if you're not happy
with this question then it's very simple
the reason that you don't have a lot of
money left or a lot of money saved is
because you don't understand the rules
of money and today I'm going to be
talking about the ten rules of money
that you need to master if you want to
start making more money but more
importantly actually keeping more money
and these are the rules that I've
personally followed to generate millions
and millions of dollars all before the
age of 30 and obviously I've made a lot
of mistakes and I've cost myself you
know a ton of money making those
mistakes but the good thing about this
video is if you watch it until the end
you can profit from all of the mistakes
I've made and you can apply them to your
own life so that you can avoid those
same mistakes that cost me a ton of
money so they won't cost you a penny and
I promise you if you understand right
rules you're going to be well on your
way to mastering money
[Music]
rule number one is the most important
one and that is that money is a game and
the sooner that you stop trying to fight
it the sooner that you'll actually start
to realize that money is a game and like
every game you can master right if I've
played the game 1,000 times and you've
only played the game once I'm obviously
much more likely to win at that game
it's like a video game it's like a board
game it's like anything else the more
times you play the more practice you get
the better that you become at it and so
you can choose to think about this in
one of two ways you can think oh it's a
game right I'm always going to lose or
you can think oh it's a game and like
any game it can be learned and it can be
mastered so you can be like some people
where you say oh you know they got lucky
or they're just too smart right that's
why they're rich no it's not like that
right money is a game it can be learned
it can be mastered like anything else
you just have to know the rules so the
great thing about the money game is that
it can be learned so many people fight
it so many people have problems with it
and they say oh you know well they
became rich because you know they had
rich family or they had you know they
were too smart no no money is a game and
it can be learned and it can be mastered
rule number two is don't waste money
there's absolutely no reason in the
world to fly first-class until you have
ten million dollars in the bank I see so
many people spending two thousand three
thousand dollars on a first-class flight
you can get the exact same flight for
three hundred dollars not sitting in
first class listen do you know how many
times that I personally have ever paid
for first-class because the answer is
zero I literally have never paid for
first-class in my entire life and
there's a very specific reason why and
the reason is because I did the math
right if a first-class flight cost two
thousand dollars and I fly ten times a
month that's 20 grand if I've only 10
times a month for $300 that's 3 grand
that's literally a $17,000 difference
and if I add that up for the entire year
for 12 months right it's over two
hundred thousand dollars wasted that I
literally could use to buy marketers I
could buy you know more staff for my
sales team I could literally upgrade
software buy new laptops right there are
so many different better uses of that
money so the rule is do not waste money
on things you don't
need until you have at least ten million
dollars in the bank and at that point if
you want to go fly first-class then be
my guest
rule number three is when there's a
crisis everything it goes on sale CNN
Fox News Dave Ramsey all these people
get paid to do one thing they literally
get paid to sell crises people get
afraid and think it's the end of the
world and finally everything is going to
collapse right the real estate market
center collapse the stock market's going
to collapse nothing's ever going to
recover literally it's the end of the
world just like in 2008 when the market
fell intensely right it fell all the way
down to something like 6,000 points but
now the market has absolutely exploded
back up to over 25,000 points for the
Dow Jones Industrial Average imagine if
you had left your money in just eight
years ago right you would have gone from
6,000 points to over 25,000 over a four
times return even at the very bottom of
the worst financial crisis in years and
those who have cash set aside for when
crises take place those are the people
who truly win the game of money because
every time a crisis takes place a lot of
people get extremely wealthy because
literally everything becomes on sale
right houses become half off cars become
half of their exotics right art all
types of things that wealthy people buy
and can make extreme amounts of money on
literally go half price because everyone
thinks that the world is ending and so
it's vital to understand that the world
is not ending right the world has not
ended for hundreds and hundreds and
thousands of years right there's no
reason for you to believe that the world
is going to end and if the world is
going to end then money doesn't matter
at all anyways and so a lot of people
are saying that the market is about to
tank again right I don't know if it's
going to tank again this year or next
year in five years but I do know that
it's going to tank in the next 20 years
and you better believe that I am going
to be 100% ready for when that takes
place you have to be ready for it also
rule number four is emulate the best and
what I mean by that is study the
smartest investors because studying the
smartest investors who literally
dedicate their entire lives to investing
into understanding how money works and
how the economy works you can literally
learn from a single book what someone
has dedicated their entire life from
right and if they're one of the best
investors in the world then they're a
billionaire so why wouldn't you take the
time to read a book write a summation of
all of the knowledge of some of the
smartest people in the world when it
comes to the rule of money and then take
those lessons that they tell you in the
book and apply them to your own
investing strategies and your own
mentality and mindset when it comes to
money you'll learn from their mindset
and nothing else
actually portrays what someone's doing
with their money then to look at what
they actually invest in themselves so
what I like to do is look and see what
is Warren Buffett actually invested in
right what is Ray Dalio actually
invested in and if you can follow along
with them you know in a smaller way
obviously because most of us aren't
billionaires like those too but we can
follow along and make investments that
make sense to you
I don't invest in utilities because I
don't understand utilities I invest
mainly in technology because I
understand technology I know what you
know companies have competitive barriers
to entry I know what companies have
monopolies right I know what companies
are going to be around for the long term
and what companies I don't understand I
never invest in so what I do is I study
the best investors I learned why they do
what they do right I look at what they
actually do what they're investing their
own personal money in right and then I
use that to actually come up with my own
investing strategy that is similar to
theirs rule number five is do you and no
one else and what I mean by this is it's
a very dangerous game right because
money and Happiness are two different
things they're independent of one
another I know a lot of rich people that
are not very happy and so one of the
quickest ways to not be a happy person
is comparing your money situation to
someone else's because if you made
$10,000 this month for the very first
time rights the most money you've ever
made in a month but you learned that
your neighbor made a hundred thousand
all of a sudden you're not happy about
making that ten thousand dollars anymore
you're sad at comparing yourself making
less than your neighbor and so the best
thing you can do is focus on yourself
focus on your business compare only
yourself to your past self never compare
yourself to other people if you focus
all of your attention on adding massive
value to your customers it's going to
pay off exponentially and your vision
might not be to go out and become the
next billionaire right maybe you want to
make a million dollars if that's your
plan stick to it right focus on that but
don't go out there and constantly
compare yourself to other people right
that is how you become unhappy and trust
me money is nothing if you're not happy
I know a lot of rich
people that are not happy people and so
you have to focus on yourself right
because you're always going to be happy
if you're making incremental progress
compared only against your own self in
the patent so the point is guys never
compare yourself to other people because
you don't know what their situation is
right maybe your neighbor who is making
a hundred thousand he's been doing it
for 50 years he's working 90-hour weeks
and he's very unhappy right he might
have more money but he doesn't have the
same quality of life that you have so
never compare yourself to other people
rule number six is befriend moneymakers
and I'll tell you why that is because if
you're around other people who are
making money you're gonna make money and
that's just the way it is and if you're
around entirely a bunch of people that
don't know anything about money and
don't know how to make money you're not
going to make money that's also how it
is a quote that I love in business is
you are the some of the five people that
you spend the most time with and that is
entirely 100% true and if you spend the
most time with five people that know
nothing about money you're also going to
probably know nothing about money but if
you spend the most time with five people
that know a lot about money and make a
lot of money I promise you you are going
to make more money rule number seven is
money doesn't make you happy kind of
this is a really important one because
there's a lot of misconception here
because money doesn't make you happy
directly and that's 100% true because if
money did make you happy and every rich
person that I know would be inherently
happy but that's actually not how it is
in the real world but it's also naive to
think that money does not increase
someone's quality of life money allows
you to never experience the stress of
worrying about a late rent payment or
worrying about what you're going to eat
that night but it's also so critical to
understand that money cannot buy you
happiness because if your happiness is
directly linked to your money and I
promise you you are not going to be a
happy person because money comes and
goes and if you allow your happiness to
be directly linked to the amount of
money that you're making then your
happiness is going to go right up and
down with it
rule number eight is about leverage
right the only difference between a king
and a peasant is positioning and
leverage everything is about leverage
what I'm talking about leverage in
business period right leverage in a
negotiation to get a better deal
leverage to get more clients or leverage
to get more sales leverage to sell more
products right everything is leverage
positioning means that if I'm going to
go work at a company I'm going to put
myself in the position to actually own
some equity so if that comes
you know ever goes public or starts
earning a ton of money and gets bought
out privately right then I'm actually
going to be in the position to make a
huge amount of money from that you've
got to position yourself to make the
most money right with your income with
your investment with everything that you
do if you put yourself in the right
position right the best position to
potentially make the most money you're
going to make the most money but you
have to put yourself in that position
and you have to use your leverage with
money to get there number nine is
strategic partnerships strategic
partnerships basically means working
with people who are going to have a lot
of synergy with your company and what I
mean by that is you want to work with
people who are making a lot of money you
want to work with people who are going
to make you a lot of money right so when
everyone's incentives are aligned
that's when business truly works when
I'm going to make someone a lot of money
and they're going to make me a lot of
money that is a strategic partnership
when it's good for both of us and that
is when things really get interesting
and everyone starts to make a lot of
money and rule number ten and probably
the most important one to me personally
is that money comes the fastest when you
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