We’ve got a LONG PODCAST today! DON’T SETTLE FOR LESS, PEOPLE! I was talking to a teacher from Swaziland yesterday and she made a very important point when we were giving our stories. I told her, “there was nothing else left for me in that area of life but I kept giving myself false hope due to complacency.”
She said, “that was the turning point. You needed to take that massive leap to up-level yourself because you had finished the last chapter long ago.”
Right now some of you are literally working at jobs that you finished years ago.
A friend’s child has been developing a nasty habit of burning a hole in his pocket. Just 16, he wanted his own car. The excuse: “All his friends’ parents gave their kids cars.” The child wanted to go into his savings and use it for a down payment. That was when his father called me and then came to see me.
“Do you think I should let him do it, or should I just buy him a car?”
I answered, “It might relieve the pressure in the short term, but what have you taught him in the long term? Can you use this desire to own a car and inspire your son to learn something?” Suddenly the lights went on, and he hurried home.
Two months later I ran into my friend again. “Does your son have his new car?” I asked.
“No, he doesn’t. But I gave him $3,000 for the car. I told him to use my money instead of his college money.”
“Well, that’s generous of you,” I said. “Not really. The money came with a hitch.”
As I said earlier, if a person cannot master the power of self- discipline, it is best not to try to get rich. I say this because, although the process of developing cash flow from an asset column is easy in theory, what’s hard is the mental fortitude to direct money to the correct use. Due to external temptations, it is much easier in today’s consumer world to simply blow money out the expense column. With weak mental fortitude, that money flows into the paths of least resistance. That is the cause of poverty and financial struggle.
In this episode, I talk about how people get into FAD or PWM (people without money) markets.
For example, Bitcoin was a FAD market. In 2018, the hysteria was insane. You had people making podcasts, videos, etc….and they all fell for it. Sure, Bitcoin still exists today, but the hysteria has gone away and the voices are now silent.
I read a post on FB yesterday that someone I knew once tried creating a business for new grads. Well, if you just graduated from university, more than likely you’re in debt — therefore, you’re in a PWM market. I’m not lucky, but when I entered the ESL space, I knew that this was a billion-dollar industry with a massive opportunity to go to AR/VR in the future with an insane amount of collaborations. So, because I’m worldwide, I’m not reliant on economies that have deteriorated (Thailand and probably have the countries on planet Earth). There are economies that are surging, at the moment, and because I’m a trainer and have specific skill-sets, I attract those individuals because I have assets.
I’m in a People-With-Money market. This is something you need to consider before starting a business.
Now, I will admit that there are people I have actually sought out because they had money. But I was not after their money; I was seeking their knowledge. In some cases, these people who had money have become dear friends. I’ve noticed that my friends with money talk about money. They don’t do it to brag. They’re interested in the subject. So I learn from them, and they learn from me. My friends who are in dire financial straits do not like talking about money, business, or investing. They often think it rude or unintellectual. So I also learn from my friends who struggle financially. I find out what not to do.
My intuition nudged at me a few months ago about a guy who made a ridiculous comment through a text message. So, I blocked him, but after going to a business where we have mutual business partners, he was there. I decided to unblock him and give him a chance — but after I caught him in a couple of lies and he tried throwing me under the bus by throwing a long-term business partnership in flames….I backed off.
Then there was an ignorant comment such as, “oh, I guess it didn’t feel good making less than ________ baht this month.”
First, never talk about a black man’s money.
Two, why would you even make a jaw-dropping, head-scratching ridiculous remark like that?
Three, Hold this BLOCK.
In this podcast, I talk about NEVER IGNORING THE INTUITION. If someone makes a comment straight off the back and something tells you “I don’t like this person,” that voice is your intuition and you should listen to it.
Back in late March when the entire world began their quarantines, I brought a teacher-friend of mine by the name of Hernan Sias back onto the ESL podcast. Oh, not the ESL this time, but the Business English podcast. In the midst of all the chaos, my body wasn’t reacting well to the shutdown and it felt like I was confined to nothing. However, during the beginning of the closures were a series of interviews that made me realize that this is one of the glorious moments in history for those “I only have a job” type of people to finally wake up. Hernan talks about an array of topics, including starting a podcast, preparing yourself during the quarantine, and how you can develop skillsets. You guys won’t be disappointed, so make sure you hit the link down below!
Business English podcast is back! And it’s back with a BANG!
I know, some of you are saying “retirement?! I’m trying to survive!” However, when your fight-or-flight system is engaged, your perception of life could also be foggy. This could be dangerous because you don’t have the end in mind/keeping your eye on the prize. When the dust is settled, dozens of countries will be trillions in debt; Disney has furloughed tens of thousands of employees; airlines have collapsed; and it continues to get worse.
People are saying “life will never be the same anymore!” Yeah, maybe it’s time for you to change your game. Perhaps it’s time for you to stop working for someone and begin working for yourself. We’re living in interesting times now with lots of downtime and time to also develop skills. So, it’s time to start thinking things through.
In the business english premium podcast, which is available down below in the link ($10 dollars a month or $100 dollars a year) you’re going to hear me discuss about retirement planning, emails from people who are looking into investment advisors, and also be able to work in potential groups and discuss different retirement products for a specific individual. And, after all that is finished, a listening!
Don’t miss out! My business English podcast is FIRE!
“What I know makes me money. What I don’t know loses me money. Every time I have been arrogant, I have lost money. Because when I’m arrogant, I truly believe that what I don’t know is not important,” rich dad would often tell me.
I have found that many people use arrogance to try to hide their own ignorance. It often happens when I am discussing financial statements with accountants or even other investors.
They try to bluster their way through the discussion. It is clear to me that they don’t know what they’re talking about. They’re not lying, but they are not telling the truth.
There are many people in the world of money, finances, and investments who have absolutely no idea what they’re talking about. Most people in the money industry are just spouting off sales pitches like used-car salesmen. When you know you are ignorant in a subject, start educating yourself by finding an expert in the field or a book on the subject.
When I decided to exit the Rat Race, it was simply a question of “How can I afford to never work again?” And my mind began to kick out answers and solutions. The hardest part was fighting my real parents’ dogma: “We can’t afford that.” “Stop thinking only about yourself.” “Why don’t you think about others?” and other similar sentiments designed to instill guilt to suppress my “greed.”
Rich Dad Poor Dad
Too much greed, however, as anything in excess can be, is not good. But just remember what Michael Douglas said in the movie Wall Street: “Greed is good.” Rich dad said it differently: “Guilt is worse than greed, for guilt robs the body of its soul.” I think Eleanor Roosevelt said it best: “Do what you feel in your heart to be right—for you’ll be criticized anyway. You’ll be damned if you do, and damned if you don’t.”
Our lives are a reflection of our habits more than our education. After seeing the movie Conan the Barbarian, starring Arnold Schwarzenegger, a friend said, “I’d love to have a body like Schwarzenegger.” Most of the guys nodded in agreement.
“I even heard he was really puny and skinny at one time,” another friend added.
“Yeah, I heard that too,” another one said. “I heard he has a habit of working out almost every day in the gym.”
“Yeah, I’ll bet he has to.”
“Nah,” said the group cynic. “I’ll bet he was born that way. Besides, let’s stop talking about Arnold and get some beers.”
This is an example of habits controlling behavior. I remember asking my rich dad about the habits of the rich. Instead of answering me outright, he wanted me to learn through example, as usual.
“When does your dad pay his bills?” rich dad asked. “The first of the month,” I said. “Does he have anything left over?” he asked. “Very little,” I said.
“That’s the main reason he struggles,” said rich dad. “He has bad habits. Your dad pays everyone else first. He pays himself last, but only if he has anything left over.”
“Which he usually doesn’t,” I said. “But he has to pay his bills, doesn’t he? You’re saying he shouldn’t pay his bills?”
Busy people are often the most lazy. We have all heard stories of a
businessman who works hard to earn money. He works hard to be a
good provider for his wife and children. He spends long hours at the
office and brings work home on weekends. One day he comes home
to an empty house. His wife has left with the kids. He knew he and
his wife had problems, but rather than work to make the relationship
strong, he stayed busy at work. Dismayed, his performance at work
slips and he loses his job.
Today, I often meet people who are too busy to take care of their
wealth. And there are people too busy to take care of their health. The
cause is the same. They’re busy, and they stay busy as a way of avoiding
something they do not want to face. Nobody has to tell them. Deep
down they know. In fact, if you remind them, they often respond with
anger or irritation.
If they aren’t busy at work or with the kids, they’re often busy watching TV, fishing, playing golf, or shopping. Yet deep down they know they are avoiding something important. That’s the most common form of laziness: laziness by staying busy.
Rich dad forbade the words, “I can’t afford it.” In my real home, that’s all I heard. Instead, rich dad required his children to say, “How can I afford it?” He believed that the words “I can’t afford it” shut down your brain. It didn’t have to think anymore. “How can I afford it?” opened up the brain and forced it to think and search for answers.
But most importantly, he felt the words, “I can’t afford it,” were a lie. And the human spirit knows it. “The human spirit is very, very powerful,” he would say. “It knows it can do anything.” By having a lazy mind that says, “I can’t afford it,” a war breaks out inside you. Your spirit is angry, and your lazy mind must defend its lie. The spirit is screaming, “Come on. Let’s go to the gym and work out.” And the lazy mind says, “But I’m tired. I worked really hard today.” Or the human spirit says, “I’m sick and tired of being poor. Let’s get out there and get rich.” To which the lazy mind says, “Rich people are greedy. Besides it’s too much bother. It’s not safe. I might lose money. I’m working hard enough as it is. I’ve got too much to do at work anyway. Look at what I have to do tonight. My boss wants it finished by morning.”
“I can’t afford it” also causes sadness, a helplessness that leads to despondency and often depression. “How can I afford it?” opens up possibilities, excitement, and dreams. So rich dad was not so concerned about what we wanted to buy as long as we understood that “How can I afford it?” creates a stronger mind and a dynamic spirit.