Unlocking Wealth Through Thought and Action - podcast episode cover

Unlocking Wealth Through Thought and Action

Oct 12, 202415 minSeason 1Ep. 1
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Episode description

In this insightful episode, we delve into the transformative principles of "The Science of Getting Rich" as we explore the profound impact of thought on creating tangible wealth. Join us as we journey through Chapter Four, uncovering the foundational ideas that shape the path to success.

Discover the essential balance between health, wealth, and mindset, and learn how focusing on these elements can lead to a fulfilling and prosperous life. Our host shares personal reflections and practical advice on investing, building credit, and the power of dividends, all while emphasizing the importance of intent and action in the pursuit of financial freedom.

Tune in for an engaging discussion on how your thoughts can manifest real-world results, inspiring you to take control of your financial destiny and turn your dreams into reality.

Transcript

Intro / Opening

Music.

Introduction to Wealth Principles

All right man all right i appreciate that so i'm on foot today man you might hear some background noise and i was kind of doing some reading meditating some thinking some walking and.

I took a copy of the science of getting rich with me and we've been our next lesson we're going into chapter four and chapter four is interesting because it kind of starts to lay the the concept you're going to hear background noise and it's the idea that the first principle and so it starts to lay the foundation it's like we've had these three chapter run-ups and we started with the end and then we did the first three and each chapter kind of opens with a little bit

bolder than the last right like when you started at the press the preference it was like this book is pragmatical not philosophical a practical manual not a treatise upon theories you're like wow it makes it sound like it's abc step by step but then as you get into it it's not that really in my opinion at all and then we jump into chapter one and if you remember right off the bat very first sentence whatever may be said of the praise of poverty the fact remains that it is

not possible to live a really complete or successful life unless one is rich and bam we're hit with that because what that is telling you is like this this this is the reason like this hold this thought like.

If i want to have everything i want man i got to get some money and rich is different we talked about that it's a lot of ways to measure rich not to much just cash and then we roll from that to the very first sentence of chapter two there is a science of getting rich it's an exact science like algebra or arithmetic. There are certain laws that govern the process of acquiring riches.

And once these laws are learned and obeyed by any man, he will get rich with mathematical certain first sentence right out in chapter two. Flip past that and get into three. Number three, first sentence. No man is kept poor because opportunity has been taken from him because other people have monopolized the wealth or put a fence around.

I mean, it's just like, bam bam bam and now we're going to be starting in chapter four and right on the first and the very first reading thought thought is the only power which can produce tangible riches from formless substance the step from which all things is made is a substance which and a thought of form in this substance produces the form all creation all sales all business building, all caring for your children, all just being a better person, man,

all that starts in you, in your mind, the things you think about, the things you focus on. You hear me say it all the time. What you think about comes about what you focus on grows. But this is taking it one step further. And this is chapter four saying thought. Thought is the only power which can produce tangible riches from formless substance. The stuff from which all things are made is the substance which thinks. And a thought of form in this substance produces the form.

Man, that's going to be good. I just kind of wanted to get that out because I'm walking around and I'm thinking about that. And I'm like, man, did I have some anxiety this week? Did I have some problems? Was I frustrated? Did I get mad at my spouse? Did I not get something done that I wanted to do? Did I get shaken out of a trade? Did I skip? I mean, I don't know, man. I don't know what's going on with you.

Keys to a Successful Life

I don't know what's priority list for you. I know this, there's three keys to a successful life, health, wealth, and mindset. So it don't do any good to be out there and be all healthy, you're vegan, stretching, doing your yoga, lifting your weights, and you're broke. And it don't do any good to have all the money in the world and be fat and on diabetes and dying. So somewhere we got to meet in the middle, man. And people talk about balance

in life. And it's like, here it is, man. Health, wealth, and mindset. That's your balance, man. It's not the hours you work or the time you spend with the kids or how much you, you know, that's not the balance. The balance is health, wealth, and mindset. That 33, 33, 33, man. And give the bonus one to the one you like the most, health, wealth, and mindset. So I'm out here right now working on my mindset. Prepping, thinking, you know. good moves in the market.

Hope you got a little richer. Should have increased your dividends. If you didn't increase your dividends this week, it's because you didn't invest any money. So the reason that could be why you don't have any money, because you don't invest any money. The reason most people don't have money is they don't invest money.

The Importance of Investing

A real good cure for not having money is to invest your money. I know that sounds stupid, but that was one of my first principles that got me going. When I'm one time I'm in a dude's room and I look and I'm in the army and there was this checking statement and it was like 114, 106. I don't remember the exact number. It was over a hundred thousand. I said, how'd you get that? And he just said, I saved it.

It was such a simple answer. It had such a powerful impact. And it's like, wow, a lot of things in life really are that simple, man. Somehow we got to focus on that, man. Don't make it so hard. Make it easier. Man, I feel like you're doing great things, man. I feel like you're doing great things. If you haven't in a little while, do me a favor and go check your credit. And if you're listening to me. Get on Credit Karma.

Credit Karma will pull all, I think it's all three or two of the Experian and TransUnion, the two big ones. Go pull your credit, man. And let's see what on our to-do list. We got to have getting that to 700. You can't listen to me and have bad credit. So let's get that fixed. That's always going to be on your to-do list. And so if you're in that situation, you should think about it every day. Every day, every day, I want you to think about this credit. We got to get it to 700.

If you got 700, we got to keep it there. And if not, push it a little higher. And this weekend, and here's what else I need you to do. Sorry about all the cars that just came. I need you to go to your brokerage account. Okay. Hey, do me this favor. Go to your brokerage account. Go over to your buy and hold and run those dividends for the year and write that number down. And then print off a screenshot of your account. Get that in your little book, your little folder. That's your dividends.

I don't care if it's $12 this year. Good. Next week, let's get it to 13. And if we go about this for the next 52 weeks, man, all you got to do is let up to make it not work. All you got to do is let up to make it not work. The dividend drip is real. Let me let you in on that. The rent collection is real. Let me let you, I don't know. I don't know about everybody else. I'm telling you, I collect a lot of fucking rent. I collect thousands of dollars a month in dividends. That shit is real.

The Power of Dividends

It goes to there, to my checking account. Now what if I don't need the money and if you've been around me long you know some of my basic principles is this idea that making money is just about having money meaning money you don't need, And one thing that even just a basic account, even if you were just like, fuck it, I'm just blindly putting money in the S&P 500. Yeah, you could do that. I mean, that's not what I'm about. I'm trying to beat

that shit. But yeah, that would be better than nothing. If you just did that as a way of life, you're just going to accumulate money. And then if you don't touch it, it pays dividends and the dividends pay dividends and it just grows over time. And I was showing on there that let's say you got an average of 10% return and you put $5,000 into the S&P 500 and you added $500 a month every month, be $6,000 a year.

In 30 years, you're going to have like $928,000, right? It's a lot of money. It works. That's true. But here's something else that's true. What if we instead invest $500, we invest $5,000? And then the next month, $5,000. and then the next month, 5,000. And then the next one, 5,000. You see what I'm saying? You're like, well, I can't do that. Well, what can you do? Whatever it is, man, you got to push it out a little bit further, which means you might have to cut something else.

And that trade, that trade you're making with the universe isn't so much about the little money because you adding an extra $50 ain't going to make you a baller. I ain't going to make you rich. But it pushes your intent into the universe just a little bit. It's like you're going, bam, and you're pushing back. And you're doing it with your mouth, your money, your hands. And by demonstration and by committing to that process, you start to signal to the world, I am a person who accumulates.

Go get about $3,000 a month in dividends. Guess what gets real fucking important in your world? Dividends. And the more important they come and they go, damn, I'm going to try to get this to 3,500. You get what I'm saying?

Pushing Your Financial Intent

So as what you think about comes about, what you focus on grows, your dividends will grow every month exponentially. Just one by owning them, two by you thinking about them, three, you're printing it off. You're looking at it. You're adding to it. Just, just, just, just fuck it. Go with it. Just be like, I don't even know. I'm just going to fuck it. You know what I mean? Like go broke every month. Pay your bills and then go broke. And do that for about six months, man.

And at the end of six months, look what happens. You've got a big pile of money. Now, what if that money made 10%? And you go, fuck it, I'm going to do another six months. And all of a sudden, the money from the six months is kicking in 10%. And then it's kicking in 20%. Now, my money invests more than I can invest. I can't invest. I can't outvests my money. Between rent collections, dividend collections, you get $100,000, then all of a sudden you're at $200,000.

And this is just coming in from rents and dividends, house after house, stock after stock. And if you go to, instead of doing $500,000, I'm doing $5,000. And then you have a great month and you make $23,000. Cash flow, flip a property, equity out. You got to check for $25,000. What if you don't need the money? So that month you didn't do $500,000, you did $25,000. You're like, nobody does that. Of course they do. You go about that business for like seven, eight years.

You're actively looking for deals. You're actively looking at these stocks. You're actively looking. You're pushing your intent in this world. How much is that house? How much yield can I get? What's the dividend on that? Shit, give me 10 grammy. You know what I'm saying? Guys go in and do that in clubs and all kinds of stuff. Do that on AT&T. Throw the hundreds. Make it rain. You know, guys will do that. I go in there and buy some drinks. Got friends, spend $3,000. Shoot.

Go do that on AT&T. Buy it up. Go fucking broke. Like, what would be the worst thing? Oh, man, I got this stupid dividend every quarter. You're like, what happened? Oh, man, I lost all my money, man. It went into AT&T. Now they just send me this stupid little dividend every quarter. You're like, well, how much did you do? I don't know, $500, $600. What do you mean? Yeah, like every 90 days, they just send me $600.

Man, that was so stupid. the guy's man out of blue just money you got time for this shit that's what people do when they don't participate everyone in america doesn't own at&t literally had that conversation they just didn't hear i heard it for them so as the strangers on these streets are walking by how many of you think collect dividends from at&t is it because their intellect doesn't allow them to, i was born under proverbs gerald there's no way i could have known that you

could type it into Google. See, we're getting past all that, man. When you can hit a button and order a gourmet dinner, you hit a button and get a car service. You get what I'm saying? And it's on everybody's phone. So think on that for a minute. Uber, DoorDash, Bitcoin, Roku actually takes shit from formula and substance.

They took an idea. They took a thought. They took a concept and took it from nothing to now perceived value and that statement is proven by the number of people that think bitcoin's a ponzi scheme they obviously think it came from nothing from formless substance lots of people think that thereby proving exactly how science getting rich says money is created worst in your thoughts pretty cool huh formless substance.

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