Скачать или смотреть Why Saving Money is Keeping YOU Poor

Savings money keeps your poor, now let me explain myself before you call Dave Ramsey and the dave police.

Have you ever realized that the cheapest people you know, although they are well off, they aren’t rich, example if you ever saw the show extreme cheap stake
1. Guy flushes ones a week ( however is not a millionaire)
2. Guy reuses mouth watch to save money on toothpaste ( still not a millionaire)
3. Another guy is so cheap that he bought his girlfriend Christmas decorations for her birthday because they were out of season and on sale ( still not a millionaire )

The point is, you can save and save; however, that’s not all it takes, theirs a secret ingredient. And that’s what im going to talking about in this video

1. Why? It doesn’t work
Everything your saving is negated by inflation and opportunity cost
Example: Imagine trying to save money, and every time your not looking, someone comes and takes 2% of your money. Don’t believe me, it's like someone that saves their entire life in the 40s trying to buy a piece of bread with a penny.
Heres why this is important most savers just have one stream of income, meaning they have a lifetime cap on how much they can earn. So if your cap is 1m dollar in one lifetime, and you save all that money well, that money won't be worth a million 60 years from today.

Now that we understand why it doesn’t work: Let's go over how to make it work.

Tip: If you're cheap that’s a good sign it means your frugal so that part is good

In short: The key is investing and creating multiple streams of income
Example: have multiple income streams so if you stop working you’ll still be making money
However: That’s not new every youtube’s told you that before, but how do you go about creating these streams

3 steps to creating passive income

1. Decide what you want to try: I say try because this isn’t college or life and death situation, its okay to change your mind once you try something
Example: I always thought that hey whatever I pick, I have to ride it till the wheels fall off even if I don’t like it. ( And the people that gave me that advice were miserable more than often)
Action Steps: The key is experimenting by taking internships, working for free, taking odd jobs. ( all you need is a spark and a pattern.)
Key: Something you like and are also good with ( I can make youtube videos, and I like it. However I also like signing, but I can't sign)

2. The education: Its time to learn about what you picked from people doing it on a higher level
Example: I picked real estate, so I did research on how to get into it and how to succeed with the goals I have. I found people like meet kevin, the landowner that owns 17 building and ask for advice. But advice is not enough.
I’ve taken courses
opened up a savings account to set money aside also.
( set a deadline )
Action Steps:
1. Educated yourself on what you like
2. Find people doing what you do on a higher level ( no mentors if you can't find them, read books and takes the course) none of the I don’t have a mentor excuse
3. Set a deadline: By when do you want to be done ( don’t get lost in the recipe, at some point you gotta start cooking)
Key: Eradicate fear, by being prepared, or limit fear is a better word.

-.3 Execute ( this is what people forget what to do, they watch videos and take courses and never take action) its time to cook
Example: I had this friend that I won't say his name, but he waited until he was in his late 30 or early 40s to get started.
When I was 17 ad just started college, he just started college in the early 40s
While he was reading about stocks and spending on entire semester reading, I took 1 month and learned everything I needed to get started and made money.
While he was thinking about starting a website, I had uploaded 100+ videos on youtube
Heres the sad part: my friend had kidney failure, and when he finally wants to start to live, when he got his transplant, he passed away on the operation table. ( the consequences are real)
Action Steps:
1. Learn enough to start practicing
2. Don’t procrastinate
3. Don’t wait till tmr to do what you can do today
Key: The key here is that once you have the information put into action.

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