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first I want to get really clear here on the word wealth because wealth is the absolute key here not Rich's wealth and to me wealth is measured in time when you are wealthy you should be able to account that in how long you can go with ever without ever having to work for your money again okay my family was behind the ball they had negative wealth because at the end of the month they still didn't have enough money to pay for that month so they had to go to the pawn shop with valuables now at this point in my life I could measure my wealth in years I could literally walk away from Life travel the world for three to four years right now so I consider myself to be three to four years wealthy and that's what I want for you because that feeling of having freedom of not feeling the pressure of the bills my student loans 50 Grand all paid off everything's covered and taken care of for years I want you to get there so how does it work let's jump on the screen here I'm going to jump on my computer and draw this out and there's one big key distinction that I learned in this whole process so on the top there's you uh and or we can use me if you be more comfortable with me as the example here and there's the income that we're bringing in from whatever it is that we're doing and where this income goes is really what holds or unlocks the secret so we have two things we have assets and liabilities and every dollar that you spend is going into one or one of these two categories every dollar that I spend goes into one or two of these categories now what's the difference between an asset and a liability personal opinion this is the number one most important thing this is the secret right here I'm gonna tell you two ways that this actually manifests but the real key here is that assets bring you money liabilities cost you money I'm going to say that again because it's super simple things that bring you money are assets things that cost you money are liabilities so your car that requires oil changes Insurance maintenance Etc that's a liability because it costs money the house you live in whether you're renting it or buying it costs you money even if you're buying your house that means you have a mortgage payment you're paying interest to the bank you're paying taxes on that place you're paying for all of the maintenance and upkeep and utilities Etc that means the home that you own is actually a liability because it costs you money and I'm gonna draw how this works because once you see this it becomes a total aha moment so out of the money that is earned every single month some portion for sure goes to liabilities because we all have liabilities that you know we got food we got rent we got things we got to pay for right we do need a roof over our head it's not the point of this it's not about getting a van and living by the river hashtag van life trying to make your life cooler than it is that sucks I know how do I know been a nomad for four years but how much money is going into assets now what I'm about to show you here is when we funnel money into our assets what the assets do is actually create a surplus of money and then when we funnel that money back up in through the same process our assets start to grow and they actually create more money and this is how wealthy people get wealthy is they focus their attention their intention and really they focus their cash flow into assets that generate positive cash flow and when that cash flow from the asset comes back out what do they do they funnel it back in to more assets set another way wealthy people collect assets poor people collect things that cost them money and this is the biggest distinction that I had now there's two ways as I said that this works out but I want you to think about it so in my videos here on YouTube a lot of people who teach digital marketing that I teach and do what I do what do they show they show Fancy cars right they got their super cars they got their Lambos over here how much do you think insurance is on a Lambo how much do you think an oil change is on a Lambo I've actually looked some some Lamborghinis have four thousand dollar oil changes that happen to have them that have to happen multiple times they've got race clutches in them how much do you think it costs to do a clutch in a Lamborghini right and that's why when purchasing these things this money goes out to other people okay this money goes back to you fam that's the key distinction so what happens is it creates a cycle the money comes in we buy new things those new things cost us even more money which require even more money to come out when Lambo boy buys his Lambo for 250 Grand or whatever it is it ain't done it ain't over that's not it now there's even more money required and what is this money that goes into liabilities doing it's keeping them from putting more money into assets and this truly is the difference right here as clear as day so I want to show one more time so here's how the cycle can work when it gets going for you and we'll talk about two ways to implement this so there's the money that's coming in now the first question might be well miles I ain't got no extra money I get it my family was there right so what did I do personally personally I worked two jobs and learned how to build a business on the side which we're going to talk about here in a minute um but the number one key at the beginning is how to increase this number because if what's going out to the liabilities does not afford you the ability to buy any sort of assets that means all your money is going to go out to liabilities it's going to go out to other people and that's either corporations uh yeah I mean it's just it's literally going out to other people right interest Banks insurance companies landlords etc etc is where that money goes it does not flow back into you and your family but when you get yourself going in a situation where you are able to bring that money into an asset then that money can create more cash flow itself that cash flow comes up here you make a little bit more money every month and then you flow more money back into another asset when the timing is right this gets you more money and eventually what can happen is the money generated from your assets is more than your liabilities which is your mortgage your house the lifestyle the food you want to eat the entertainment you do going out with friends all of the things that we all spend money on right I got liabilities I ain't trying to be like holier than thou In This Moment saying I don't I definitely do I got a truck with a cool little camper thing there's things I like in life but my goal and what wealthy people do is wealthy people focus on taking the cash flow that they're earning they always work on increasing what they're earning actively and then they put they funnel their cash flow into assets that generate additional cash flow when that extra cash flow comes in they funnel it back into more assets and that's the key and I found two ways two very specific ways to do this number one is through business and that's why I've taught everything I know about growing a business online here on this channel 580 590 videos all of them free no pitches I don't have a thousand dollar course I don't want to sell you nothing I literally want you to understand how to do this because I have achieved the level of freedom I desire in my life and I want to help you get there and you getting there doesn't require you to spend two thousand dollars or four thousand dollars because I ain't got no Lambo that needs an oil change right I'm good I've built Business Systems to pay for my life as is which is why I'm sharing with this with you now so when I left home I found there's two things that families do number one is they own businesses now this helps in two ways number one the business can generate a lot more cash flow than you can with your hours right so my business can have a ten thousand dollar day and I don't know how much your hourly rate is worth but odds are you don't have an hourly rate that is sufficient to make a ten thousand dollar day neither did I I didn't have those skills but I was able to build business systems that could reach the lives of millions upon millions of people and it can add enough value to the lives of Millions Millions upon millions of people that it could generate thousands and thousands of dollars every day in profits okay the number two way is real estate okay so real estate is kind of interesting because everybody needs a place to live right no matter what the economic conditions is no matter what the world's looking at everyone needs a place to live and what landlords do is landlords actually get other people working for them right so what happens is landlords real estate which is an asset to the landlord actually becomes a liability to the tenant and the Tenant is going to pay for all of the liability aspects right so the rent covers the mortgage it covers the insurance it covers the taxes it covers the maintenance when the deal is structured correctly if you get it wrong your rental could be a liability because it could be costing you money every month but when it's done right a rental property should be covering all of the costs and it should generate excess and that's it this right here literally this super simple kind of messy I admit it this super simple formula of just ask yourself what are you doing with your money are you spending all of your money on liabilities are you putting any money into assets if not there's a little there's there's something you can do today and there's a book called um the richest man in Babylon and there's an old book and the big idea from the book is you pay yourself first and put aside at least 10 of what you earn for yourself and the real idea here is if you start to put aside 10 of what you earned and start saving up for these assets you can really put yourself on to a much different path than you might be on today there's an audiobook called uh Prosperity Consciousness from Frederick lehrman I'll have the link below somebody bid off his title and copied it but on Audible it's only on Audible it's from Nightingale Conant again the link will be below it's Frederick lehrman and he talks about a system of running multiple bank accounts because you can't ignore your liabilities right you can't ignore rent you can't ignore food you can't ignore the electrical bill I get that I totally understand but what he talks about doing is running a multiple bank account system so when you get paid that money gets split up between several different bank accounts and what you do is one of these bank accounts becomes your asset account and that gets ten percent of everything that comes in goes in your asset account now that account might not be ready to put a down payment on a rental property right away but eventually if you habituate the process of putting 10 of everything you own in the asset account and you live off of the other ninety percent you put yourself in a position to be able to afford your first asset and that first asset can spit off two three hundred dollars a month and eventually the amount of money that comes in from this asset that again runs through these exact same you can run through the same account systems then you can put yourself in a position to purchase more assets over time it's really powerful there's some other ways to do this if you want to learn more about how I'm doing this right this is the money management side everything on this channel is teaching you how to create cash flow and create income by building businesses online selling digital marketing Services selling products and affiliate products online I'm teaching you how to increase your income by spending your time in the mornings the nights the weekends when you're not working building a business online but then what do you do with your income once that's coming in I can teach more about that real estate I'd love to go into it if you want to hear more about that let me know in the comments below um but this is where you know I've got my affiliate case study right so my affiliate site that my team is building is yet another asset that's going to create more cash flow it goes up here I got wifey's site that's an asset we've been building for nine years it creates cash flow that goes up here I got my site here I've actually got a couple of sites under my brand that brings it here my YouTube channel is yet another one that brings some cash flow that brings the money in here and then what am I doing I'm funneling it into more things that's where I got the budget for my affiliate website I got real estate coming in I've got real estate deals in the work I'm hunting for more real estate deals right here today and this is how wealthy people create wealth and I started with nothing I started with fifty thousand dollars in student loan debt I started at negative 50 to be perfectly honest with you and through understanding the difference between an asset and a liability and really going all in on this and just trusting that if I put my money towards assets that generate cash flow for me I'll get more cash flow and eventually the cash flow from my assets will cover my entire lifestyle sure I can live on less right I can cut down my expenses I can cut down how much my liabilities are but I could also just make a lot more and build a lot more in assets and live any kind of Lifestyle I want if I want to live a 400 000 a year lifestyle I could build up enough assets that generate enough cash flow to where I can live that lifestyle for the rest of my life zero concern zero F's given because I have exited the game I'm playing a different game I'm out of the rat race at that point in time you can do this too and you you understand how this stuff works you need to understand the the meanings of these words the vocabulary the financial vocabulary you got to understand how this stuff works first which is why I broke it down if you have any other questions about personal finance about how to build wealth in your life Etc get at me in the comments I'm happy to do more videos like this I thank you very much for your time I hope this has been helpful if it was let me know in the comments thank you again I'ma call it for this video until we meet again be well I appreciate you and I look forward to helping you build the lifestyle of your dreams through the business of your dreams you can do it I know because I ain't got no college degree on this no formal training on any of this my wife and I have built an amazing lifestyle with amazing businesses you can do it too it takes a lot of work but it's worth it in the end on that note cheers I appreciate you and I'll see you on the next video be well

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