The Secret To Actually Earning Passive Income | Jaspreet Singh

"the point is you go to work every single day you get this paycheck every week every two weeks every month every time you get paid you're gonna take a little bit of this money and buy this asset now when you do this week after week after week month after month after month year after year after year decade after decade now you're going to be building a solid stream of cash flow especially if you're taking this cash for that you're generating and using it to buy more assets because now you're making money to buy cash flow and the money that your money makes is buying you more cash flow as well and now if you do this for long enough now you're going to be able to build a solid stream now the more money you invest into this asset the more cash flow you're going to be able to generate and this is why I call it the decade of sacrifice because if you put in a decade of time where you're working to live smaller so you have more money here and then you take this money and use it to buy these assets that are paying you with cash flow but now after a decade of sacrifice you are going to be able to reap the rewards of that which is now you're going to finally have a solid stream of cash flow"

"well some companies in the stock market not all of them but some companies on the stock market pay what's called a dividend a dividend is a cash payment that you get as an investor for doing nothing except owning the stock"

"option number two is you invest in real estate now you're going to go out and buy a property maybe it's a house maybe it's an apartment complex maybe it's an office building if that's something you're into maybe it's a retail building maybe it's a mixed use building maybe it's a storage building you're going out and you're buying this property but you're not buying it to live in or use yourself you're buying it to rent out to somebody else so now you buy this property you rent it out to somebody else maybe they'll live in or use this property and then in exchange for them living in and using a property they pay you rent"

"every millionaire has at least seven streams of income but what they don't tell you is that most of these millionaires did not become millionaires or rich or wealthy because they had seven streams of income they became millionaires because of one and once they became Rich that's when they started getting these other streams of income"

"the second type of multiple streams of income is how the majority of people become millionaires this is where you have a job you make money and then you invest some of your money into stocks or real estate or other passive Investments that are working to make you more money"

"the reason why most people will never be able to achieve the real wealth that they dream of is because they're not willing to to take that risk they always think oh what happens if I quit my job then how am I going to pay my bills how am I going to feed my family how am I going to continue on with my life if I take this risk and invest my money what happens if it doesn't work out"

"now these things are important having time for your money to grow and letting your money compound is one of the most powerful tools to let your money grow and compound to build wealth passively but if you want to build wealth sooner and I just wait for your money to compound and grow there's something different that you have to understand"

"if you put your money into a passive investment like the stock market or real estate where historically these Investments have averaged something around 10 a year now you can double your money every seven years"

"now you can double your money every seven years and now we're talking because you can double your money 10 times during your lifetime yes it will take something like 70 years to double your money 10 times and get those multi-millions but take a look at this if you invested an additional ten dollars a day into your investment fund that's like a Chipotle bowl and some guac now you can cut that time in half to like 35 years that's a valuable guac but now if you venture out and you decide to start your own business now you can see returns of 30 to 100 a year and assuming we just stick on the low end of just getting a 30 return a year now you can double your money every 2.6 year years which means you will be able to double your money 10 times over the next few decades and you will have your multi-millions"

"money is a byproduct of the value that you provide it is not a byproduct of how hard you work this was a really hard lesson for me to grasp because I grew up with this mentality with the harder you work the more money that you're going to make now hard work is very important I work very hard but there is a right way and a wrong way of working hard"

"riches are measured in what you can buy and wealth is measured in time if you have a million dollars then you're rich you can go out and buy yourself a fancy car you can buy a nice home you can go on some fancy applications but eventually you're going to run out of this million dollars and you're no longer going to be rich you're going to have a whole bunch of nice things but you have no money left and now you're no longer Rich wealth is different wealth is measured in time and wealth is when your assets are greater than your liabilities"

"the easiest way to do that is to create a financial system for yourself for example I talk about creating a system like our 75 15 10 plan which means that from now on every single dollar that you earn is going to follow this funnel it's going to go down the system where 75 cents out of every dollar that you earn is the maximum that you can spend 15 cents out of every dollar that you earn is the minimum that you're investing and 10 cents out of every dollar that you earn is the minimum that you should be saving"

"money does play a big part in your life you just need to understand how and where it plays a part in your lives so money this money this cash is just paper this paper honestly has no value unless you use it that's what people actually want it's not the money that people really are after it's what money can buy you but one thing that so many people get confused and why so many people are miserable is is because they don't understand how and when and why money plays the part in their lives"

"our lives are kind of comprised of four different parts which can fall into this triangle Maslow has his hierarchy of needs I have this quadripet triangle at the bottom of this quadrafit triangle is physical Fitness and I call it Fitness because you need to be fit in these four categories if you want to be able to live a happy and healthy life"

"the goal to be financially free the goal should be wealth not riches and the way that you do that is by working here to buy more assets you can see how everything is kind of building on top of one another right these assets are the things that we've been talking about this could be buying rental properties this could be investing your money into the stock market this could be investing your money into cryptocurrency this could mean investing your money into models like gold"

"NOW does this come with risk of course if you invest in a company on its way to bankruptcy well eventually they might cut that dividend or they'll have to cut that dividend plus you can also see the value of that stock fall and this is where you have to understand how to Value an investment and know how to research a good stock and you might be saying but just breathe I don't want to do all that I don't want to keep up with the company I don't want to research the stock I don't know how to do that I don't want to research that of financials that's okay you don't have to the alternative to investing into an individual company is to invest in something like a fund maybe a dividend paying ETF a dividend paying index fund a dividend-paying mutual fund Now instead of investing in one company like let's just say apple Now you can invest into a basket of companies that have say 500 different companies in here and apple is just one of the companies and there's 499 other dividend paying companies in here so now you can go and find these dividend paying funds again you have ETFs mutual funds index funds you go and find one of these dividend paying funds that invest in companies that are paying a dividend Now you invest in one thing that's investing in 500 different companies Now you can lower your risk because if Apple were to go bankrupt well now you have 499 companies to balance it out this way you can lower your risk and keep getting those dividends that now you can just keep throwing the money into one of these funds"

"what every wealthy person does is any time they get paid anytime they get money the first question that they ask is how can they pay themselves how can they invest as much money as possible this might mean buying rental properties this might be investing money in stocks whatever it is is and then after they invest their money then they're going to see how do I spend whatever's left"

"the stock market works because it's very accessible you can invest your money into ETFs you can invest your money into individual companies that you believe in that you think you're innovating for the future"

"now the key here is this rent has to be enough to cover your property taxes your insurance your maintenance your management fees any vacancy costs and then if you have any debt cover that as well and then put some money in your pocket each and every month that's the right way to invest in real estate you have some people especially when you're in a very hot seller's market like we've been seeing when you're in a very hot sellers Market you will see investors go out who have a lot of cash just go and buy properties and say you know what I'm okay losing money every single month because I think this property is going to be more valuable next year so I'll be able to flip it for profit that's not the game that I play that's too risky that's too speculative because I have no idea where housing prices or real estate prices are going to be in a year I don't like to play that game what I like to do is I want to make sure I can make it profit in my cash flow every single month and just keep working to accumulate the cash flow I just want to keep stacking the cash flow because now I know okay this property is going to make me 250 a month if this property is going to make me 250 a month I gotta buy a second one for another 250 a month after 10 I get 2 500 a month coming in in profit after 100 I got 25 000 coming in in profit and now it's the game of just stacking cash flow and how fast can I stack that cash flow"

"you can also look at investing your money into cryptocurrency again this is why education is so important a lot of people still don't understand the value of cryptocurrency because there's a lot more to it than just a physical currency there's a whole technology behind it which is really gaining a lot of popularity now and there are ways for you to earn interest on your cryptocurrency"

"The second type of multiple streams of income is how the majority of people become millionaires this is where you have a job you make money and then you invest some of your money into stocks or real estate or other passive Investments that are working to make you more money this is the one that I talked the most about on our YouTube channel because this is the one that's most accessible to people because if you're working a job now it's all about living below it means that way you have some extra cash now you can deploy this cash somewhere else that way this cash can earn you more money but when you are investing this money the important thing here is you understand the risks involved and you understand a learning curve because if you understand a learning curve and you put in the effort to learn what you're doing you can get a much better return on your money because now you are not spreading yourself too thin again because you're not just throwing the money in random places you're putting your money where you know and when you know where you're putting your money you can get a better return on your money"

"money is a tool it doesn't make you a good person and it doesn't make you bad person money is just a tool that amplifies who you are if you're a good person and you have more money now you have a tool to do more good if you're a bad person and you have more money well now you have a tool to do more bad"

"Financial education is all about using your money the right way and investing your money and growing your money and earning more money but at the core if you do not understand how money plays a part in your life that way you can live the best life possible what's the point"

"The key is you need to make sure that your risk is aligning with your goals and if you want to speed this process up even faster you need to add more money into the equation plus there are ways that you can improve your returns while keeping your risk low which is what I want to talk about in three different ways starting with one your savings look your savings are not there to make you wealthy you can see that very clearly on this chart but that doesn't mean that your savings have to sit there and do nothing second let's jump to the bottom of this chart and talk about this active investing this active investing can make you the biggest returns because now not only are you investing your cash but you are investing your time and your efforts to physically grow your cash The great thing here is that your upside is Limitless I mean Nike Dell HP and UPS all started with less than a thousand dollars and now they're massive you don't have to build a massive Fortune 500 company to become extremely wealthy but you get the idea there's a lot of upside However the downside is this comes with the most risk I mean you can lose everything your money and your time if you want to see the returns that you're looking for through this active investment you need to have that entrepreneurial mindset which isn't for everyone"

"your 20s are a time when you first start making money and it's very common and normal to be done with their money because what's the first time you ever make money so now you want to go out and buy nice things you want to start spending money you want to start going on vacation you want to start buying a nice apartment you want to get a nice car and you want us to start exploring and enjoying life because you're finally out of school and you're finally making some money"

"if you're not interested in starting a business then you need to focus in and funnel as much money as possible into these passive Investments pass investing is when you take some of your money and you funnel it into the stock market or real estate and then you walk away This is something that everybody it doesn't matter if you're working your job or starting a business or whatever This is something that everybody needs to be doing every time you get paid you should funnel a portion of your paycheck into these Investments whether it's stocks or index funds real estate it doesn't matter you just need to keep funneling some of your money into these passive Investments this way now your money is out working hard to build you wealth The more money and the more time you have the more wealth you will be able to build The thing people get confused here is they confuse passive investing as a way to get rich quick so when they don't see their Millions right away they get disappointed and they stop doing it The reality is pass investing is not a way for you to get rich quick it's a way for you to get rich and build wealth slowly"

"The good news if you want to look at the bright side is your great great great great great grandkids will have a few million dollars if you put your money into a passive investment like the stock market or real estate where historically these Investments have averaged something around 10 a year Now you can double your money every seven years and now we're talking because you can double your money 10 times during your lifetime yes it will take something like 70 years to double your money 10 times and get those multi-millions but take a look at this if you invested an additional ten dollars a day into your investment fund that's like a Chipotle bowl and some guac Now you can cut that time in half to like 35 years That's a valuable guac but now if you venture out and you decide to start your own business Now you can see returns of 30 to 100 a year and assuming we just stick on the low end of just getting a 30 return a year Now you can double your money every 2.6 year years which means you will be able to double your money 10 times over the next few decades and you will have your multi-millions"

"now you have to also understand and protect yourself because no country no Empire no company can last forever I mean when you're at top then every other country in the world is trying to take your spot and so you want to be smart and understand what your dollars are your money is that way you can convert it to something real because I mean if we just think about it practically it costs about 12 cents to print a 100 bill as opposed to with gold this physical money it took real time effort and labor to mine an ounce of gold and so value of your gold was represented by how much time effort and labor it took to produce the gold now with money it takes a couple push of a buttons and now you can print out a hundred dollar bill what this means is if you go to work for 10 years and you save all this money you're going to save up a lot of money because you put in a lot of value over this 10 years at your job but if you just keep this money in the bank somewhere your money is not going to grow it's going to sit there flat but because this money that you're saving is just paper money the United States government has the ability to print money on command and we've seen this happen year after year after year the United States government keeps printing more money the United States National Debt keeps growing and when that happens more dollars enter economic circulation and each new dollar now dilutes the value of another dollar because as you have more dollars in the economic system the value of each dollar goes down that's why the price of Coca-Cola has gone up by 20 times over the years it's not like the value and the taste of a Coca-Cola has gotten 20 times better it's that the value of your dollar which is buying the Coca-Cola has dropped that's why the first law of money is really just understanding what money is supposed to be money is supposed to be a representation of value but when you just hoard these paper dollars these paper dollars can be manipulated by the Federal Reserve Bank and the government which means that you can go to work and produce fifty thousand dollars worth of value but that fifty thousand dollars with the value that you provide can be manipulated because the Federal Reserve Bank can just print a whole bunch of money and I have fifty thousand dollars of value that you've worked hard to provide really won't have that much value anymore because now there's so many more dollars in our circulation so what you want to do is first understand this and now when you're going to work to earn this money these paper dollars you want to convert these paper dollars into something that will hold its value on one end this could be something like gold and silver or it could be cryptocurrency now cryptocurrency is a whole lot more volatile you want to make sure you understand what you're doing in cryptocurrency before you just blindly throw your money in there but there's a lot of opportunity in cryptocurrency that's gonna be putting your money into the stock market because now you're investing your money into assets right now you're investing your money into companies that you believe in or you're investing your money into the general American economy if you're investing your money into index funds or ETFs this could mean investing your money into physical real estate buying rental properties which will now pay you with cash flow and now you own a tangible real asset that you can see feel and touch what you need to do is not just hoard all of your extra cash there's a time and place for savings you need to save money for emergencies you need to save money to buy your purchases and you need to save money for your Investments but you don't want to just be saving your money just to save it your cash is only backed by a promise it is a liability it is losing value each and every day and so the first thing you need to do is understand that that way now you can make smarter decisions with their money instead of just keeping all of their cash in your bank account you want to use your cash smartly that way you can use your cash to buy assets which will either maintain its value or make you more money"

"The second law of money that I want to go over is the money rewards value it does not reward hard work my money is a byproduct of the value that you provide it is not a byproduct of how hard you work this was a really hard lesson for me to grasp because I grew up with this mentality with the harder you work the more money that you're going to make now hard work is very important I work very hard but there is a right way and a wrong way of working hard if hard work was the most important indicator as to how much money you would make then every construction worker and every laborer would be a millionaire but they're not why because money is a byproduct of the value that you provide it is not a byproduct of how hard you work now hard work is important when it comes to providing the right value but this is where it pays to understand how to work hard in the right direction The simplest way to understand this is to understand the three different types of work that you can do you have the labor work then you have the busy work and then you have the thinking work ... The thinking work these are your Executives in the company your Executives and the company are now working every single day doing this type of busy work they're not on Excel every single day trying to build spreadsheets and trying to build analysis and formulas what they're doing is they're thinking how do we allocate our Capital how can we come up with new business ideas how can we invest in growth how can we innovate for the future this is the highest paid work but physically it is the least hard work this is why you have to understand how money is a byproduct of the value because now when you go to a restaurant and you buy a hundred dollar dinner what you're doing is you are giving the restaurant a hundred dollars because they gave you some sort of value they gave you a nice meal which in this case is worth a hundred dollars so you paid them a hundred dollars and in exchange for the value that you provide if you want to attract more money because you and I can't actually make money only banks can do that but if you want to attract more money then you have to provide more value"

"freedom comes with wealth freedom is not in riches the best definition that I have of this is that riches are measured in what you can buy and wealth is measured in time if you have a million dollars then you're rich you can go out and buy yourself a fancy car you can buy a nice home you can go on some fancy applications but eventually you're going to run out of this million dollars and you're no longer going to be rich you're going to have a whole bunch of nice things but you have no money left and now you're no longer Rich wealth is different wealth is measured in time and wealth is when your assets are greater than your liabilities and what this means now is let's assume that your expenses every single month your liabilities are three thousand dollars a month but every single month you get a check in the mail from your assets you get a check from your Investments and you check every single month is thirty five hundred dollars now you are free now you are wealthy because every single month your assets are paying for your liabilities and you have time to do whatever it is that you want you're not going to be tied down to a job that you hate you're not going to be forced to do things that you don't want to do because you're already wealthy you got your time now you can use your money however you want"

"if you're investing in physical real estate well now you own a property that's going to be paying you with cash flow the downfall with real estate is it takes a lot of capital for you to go out and start investing in real estate if you're investing in real estate well now you can go out and buy a property that's going to be paying you with cash flow the problem with that is going out and buying a property isn't very easy and it takes a lot of work and it also takes a lot of capital it takes a lot of cash to go out and buy a house or an apartment complex"

"You can also invest your money in the stock market Market the stock market works because it's very accessible you can invest your money into ETFs you can invest your money into individual companies that you believe in that you think you're innovating for the future now again just because it's accessible doesn't mean it's easy but it provides opportunity for you to now invest your money and build real wealth and if I'm just focusing in on the stock market you can choose how you can get paid you can get paid through this type of cash flow if you're investing in dividend paying companies where you can invest in individual companies or ETFs that way you can get long-term growth again it just depends on what your goal is which is why you need to be financially educated that way you can invest your money the right way"

"The fourth law of money that you have to understand is that your money is blind it needs directions if you do not tell your money where to go it is going to get lost so what you need to do now as the owner of your money is you need to understand what each dollar that you earned needs to do that your money has a job that way it can earn you more money and the only way that you can do that is if you give your money directions The easiest way to do that is to create a financial system for yourself for example I talk about creating a system like our 75 15 10 plan which means that from now on every single dollar that you earn is going to follow this funnel it's going to go down the system where 75 cents out of every dollar that you earn is the maximum that you can spend 15 cents out of every dollar that you earn is the minimum that you're investing and 10 cents out of every dollar that you earn is the minimum that you should be saving Now what you're doing is you created a financial system you're always paying yourself first you're putting some money aside for your savings and you know the maximum that you can spend Now if you can you want to do less of this and more of this but this is the type of financial system that you need to create because now what you're going to do is you know okay this is the money that I'm going to invest this is the money that you're using to buy assets every single month and this is the money that you're using to build up your savings cushion after you build your savings cushion somewhere between 3 to 12 months worth of expenses depending on your risk tolerance You don't want to be saving any more money so you're going to allocate this right here so now you're investing 25 of every dollar that you earn"

"The fifth law of money that has to do with you understanding how money plays a part in our lives because everybody says money will not make you happy money is not everything but the reality is money does play a big part in your life you just need to understand how and where it plays a part in your life so I like to follow something called the quadrific triangle this is something that I created which I believe helps to diagram how money plays a part in our lives so our lives are kind of comprised of four different parts which can fall into this triangle Maslow has his hierarchy of needs I have this quadripet triangle at the bottom of this quadrafit triangle is physical Fitness and I call it Fitness because you need to be fit in these four categories if you want to be able to live a happy and healthy life ... once you're physically fit and then you're mentally fit and then you're spiritually fit that's where money plays A Part Everybody says money cannot buy happiness because they assume that people are gonna make money here to either make up for the lack of spiritual Fitness the lack of their mental Fitness or the lack of the physical Fitness this is where money cannot be happy penis because yeah you cannot use money to make up for a void in one of these things and this is what so many people try to do they think oh yeah I'm not healthy but if I was rich things would be better or yeah I'm not happy but if I was rich then I'd have more friends or yeah I have no purpose but maybe if I'm rich I'll feel like I have a purpose but that's not how it works money and Financial Fitness helps you here it helps to be financially fit nothing else that's why if you want to live a great life and you want to live a rich life you need to understand how money plays a part in your life and where money plays a part in your life because in order to really enjoy this money that you have you need to make sure you have the building blocks first"

"the reason why most people will never be able to achieve the real wealth that they dream of is because they're not willing to to take that risk they always think oh what happens if I quit my job then how am I going to pay my bills how am I going to feed my family how am I going to continue on with my life if I take this risk and invest my money what happens if it doesn't work out if I take this risk what happens if I fail how am I going to go back to my husband or my wife how am I going to tell my kids that I failed how am I going to live with myself if I take a risk and it doesn't work out for me but when you're young one of the biggest advantages that you have on your side is time because you have time to recover from your risk and your failures and that is one thing that you can never get back ... if things fail I still have time to fix things When you're not married and you don't have any kids you don't got a lot of responsibilities this is your time to take as many risks as possible that means starting dumb business ideas because one of these dumb business ideas might actually pan out into a good business idea and that means taking investment risks investing into things that you think could potentially grow a whole lot bigger in the future you don't have to play it completely safe when you're young yeah you know you can have some of your safer Investments you can invest in the ETFs you can do some of that but you should also be taking risks because this is your time to take risk it kills me when I see a young dude out of college at 20 something driving around in a nice BMW that they're financing working a job that the mayor may not hate where they're making an average salary and then they talk about these Big Dreams of how they want to become successful and become so rich but the reality is your actions have to match your goals because right now you are throwing your money away on these liabilities that are not doing anything for you This is the time that you have to take risks get rid of all these liabilities get rid of the fancy car get rid of the brand name stuff for a little while and invest this money in you if you have a business idea go for it if you want to make an investment go for it this is your time to do something"

"I screwed up in so many business ideas I've been scammed I've been sued I've been screwed over but these are the things that got me to where I am today I mean the reason why I started minority mindset was because I got scammed and screwed over in another business that I was starting so I started making videos teaching people how to start a business without getting screwed over now this doesn't mean that you shouldn't invest in any of your traditional Investments this doesn't mean that you shouldn't be investing in ETFs this doesn't mean that you shouldn't be investing in real estate this doesn't mean that you shouldn't be doing any of that these are good long-term Investments that will help you build wealth over the long term these are things that you always want to be doing because this is what will build you the long-term consistent wealth but if you want to get there faster and you want to have more money going into your Investments your passive Investments you need to have more income coming in and if you really want to have more income coming in you need to do something that will allow you to have your income which means you're going to have to take more risk and the best time to take that risk is now especially when you're young because lifeless is going to get busier you're going to get more responsibilities you're going to have more financial commitments and it's going to get harder for you to do that doesn't mean it's possible but it will never get easier which means if you want to do something this is the best time to do it take that risk today The best decision I ever made was not listening to anybody else's advice because everybody told me I was dumb everybody told me that I should have become a doctor and when I didn't become a doctor that I was dumb then when I went to law school everybody told me that I should have focused harder in my classes everyone told me I should have got good internships everyone told me that I should have gone and worked for a good attorney after I graduated but I didn't listen because I wanted something different I didn't listen to everyone around me and it was hard because everybody kept telling me how dumb I was but I knew I wanted something different I wanted something that most people could not understand I wanted something that the majority of people could not see and that requires you to not go out and take a risk because now you're going against the whole world nobody understands what you're doing nobody understands why you're doing it and nobody can see the vision that you have nobody can see the dreams and goals that you have but if you want to achieve these dreams goals you want to have that financial success you got to be willing to go out and do something and most people are not going to understand it so now you got to be the person to not only go and take the risk but now you also have to take that criticism from everybody else around you but that's what's going to help you build that tough skin that way you can achieve whatever it is that you want that means you have to be willing to take a risk if you have a business idea this is the time to go after it if you see an investment opportunity and you believe in it go after it so what if you lose money money will come back but your time will not and so you have to be willing to take risks now this doesn't mean do stupid things do things that are calculated do things that you actually believe in do things that have potential for opportunities and that also means learn learn from people that are doing whatever it is that you want to do you know back when I was starting my first businesses YouTube wasn't very popular especially for people that were entrepreneurs are looking to get financial education you don't have this type of stuff on YouTube so I was reading books I hated reading when I was growing up English was my second language I never read a book until I found a money management book the first book I ever read was Rich Dad Poor Dad by Robert Kiyosaki after that I read book after book after book talking about investing your money money management building a business marketing because these were things that had never been exposed to before I went through years of school but nothing that I went to school for taught me how to actually make money how to manage my money how to grow my money these were things I had to learn on my own not just through books but by doing it myself that's why I'm so passionate about the minority mindset because I was doing everything right I had checked all the boxes I was busting my butt trying to do everything so I could become successful but I didn't realize that if I really wanted to become financially successful there was a different type of education that I needed if you want to know how to invest your money into ETFs and real estate that way you have this consistent income coming in when you get older that's fine but we have other videos on our YouTube channel talking about that which is why if you haven't subscribed yet make sure you do that but what I'm talking about today is if you really want to become wealthy and you want to do it sooner you need to invest in yourself and the earlier you do that the better because now you have time on your side you have time to make mistakes you have time to recover from your mistakes and you have time to go out and actually take action on whatever it is you're doing time is gonna pass no matter what whether you do something or whether you don't do anything time is going to keep going on a year from today you are going to be a year older no matter what but now the question that you have to ask yourself is where do you want to be a year from now do you want to be in the same position you are today or do you want to be somewhere else if you want to be somewhere else and you have to take action it takes time it's hard you're not going to know everything and you're gonna make mistakes but that's the only way that you're going to learn and and if you're not willing to take those risks then you're not going to go anywhere because the more you wait the more responsibilities that are going to come your way the less opportunity you're going to have to take those risks and the harder it's going to be for you to break away from the system because now you're going to get trapped in the cycle you have to go to work you have to invest in your 401k you have to pay for your kids college fund you have to pay for your spouse's vacation and as they do that now you get scared you get scared of leaving your job you're scared what happens if you take that risk and things don't work out you're scared that hey what if it takes me two years before I start making decent money what if I can't go and get another job what if the economy fails when I'm starting this business what if this guy falls or what if you don't get enough sleep to go to work the next day but if you don't have all those responsibilities around you it's a lot easier for you to go out and take those risks which is why if you're younger it's a lot easier for you to go out and do it now if you're older that doesn't mean it's impossible it's going to mean it's a little bit harder but it is possible if you're willing to put in the work remember you got to have what your goals are and you need to make sure that your actions are aligning with your goals the majority of people go to work every single day to make money and then they spend this money on rent or their mortgage on food and a little vacation here there and then they wonder where all their money went hey where'd you go but what if I told you that there was a way that you can clone yourself"

"I'm gonna draw you right here for my male followers I'm gonna draw you a mustache and for our female followers I'm gonna draw you a braid in my native language Punjabi we call a mustache a much and a braid a goat so now you go to work every single day at this job maybe this job is your business and then this job is going to pay you a salary now you're going to take a piece of the income that you did not spend at Gucci and chipotle and you're gonna take this money and you're gonna invest it into to this asset now this asset could be something like a dividend paying stock it could be something like real estate I'll talk about how you can do this in just a minute but now you're going to take this money put it into this asset that's going to be generally passive on your end not completely passive but generally passive and now that you own this asset it is going to pay you with cash flow maybe you get a check every month maybe you get a check every three months maybe you get a check once a year just depends what this asset is and now you can take this money that you're generating and you can either buy more of these assets that are going to pay you with more cash flow or you can take this money and use it to go out and buy you a brand new car that's going to be your choice but this is how real cash flow investing works"

"now the thing that you need to understand about cash flow investing that nobody wants to talk about on the Internet is that you don't get rich by Investing For Cash Flow you got to be rich first to get a lot of the cash flow that will make you wealthy the reason why is because you got to take the money that you're earning that you don't spend at Chipotle and and then you take this money to buy these assets so you need the money to generate the cash flow in the first place"

"let's assume that you can get a 10 cash flow return that's very high by the way but this is what we can get a 10 cash flow return that means if you invested a thousand dollars into this asset you're going to generate a hundred dollars after one year of cash flow a hundred dollars from a thousand dollars is not going to really pay you much I mean it's not going to fund really anything in your life even if you invested a hundred thousand dollars then you're only generating ten thousand dollars a year now ten thousand dollars a year is a lot but it's not even a thousand dollars a month it's not life changing money for you to go out and start driving a Rolls Royce you need the money to invest to generate the cash flow"

"because if you put in a decade of time where you're working to live smaller so you have more money here and then you take this money and use it to buy these assets that are paying you with cash flow but now after a decade of sacrifice you are going to be able to reap the rewards of that which is now you're going to finally have a solid stream of cash flow"

"now again not every company pays out a dividend and the reason why is because for a company to pay out this dividend they have to have a big profit so now when a company makes a profit at the end of the year there's three things that they can do with this cash number one is they can save this money in case of an emergency number two is they can reinvest this money back into the company or number three is they can just give it away to you one of the shareholders one of the owners now when it comes to saving the money in a company you got to think from the perspective of a business owner if a company makes a hundred million dollars of profit and they kept a hundred million dollars in their bank account well that's dead cash sitting there not every company wants a ton of dead cash sitting there because the 100 million dollars isn't generating a return for the company companies want to do something with their money or at least give this money to their owners and so if a company has a big enough bank account or a big enough savings account they might not want to save more money which then brings us to option two which is reinvest the money back into the company now if it's a smaller startup Growth Company you bet they're going to want to invest all of this money maybe and some more through debt and other investment money back into the company because they want to grow bigger they want to expand their market share they want to be a larger company and when a company is trying to grow they're going to be investing everything they can to open these doors open new manufacturing plans open new research and development facilities that way they can keep expanding and growing their market share but when a company becomes even bigger and now you're a much larger conglomerate and you don't really see that opportunity to keep investing and growing as quickly now you might not want to reinvest all this money back into the company which leaves now this cash back in the bank account and if you don't want to just save it well then you can give this money away to the shareholders people like you who own a piece of the stock now this is called a dividend and companies that pay a dividend generally pay out this dividend quarterly meaning every three months so now if you buy a stock that's paying a dividend that means you're going to get a cash payment every three months for doing nothing except owning the stock"

"the alternative to investing into an individual company is to invest in something like a fund maybe a dividend paying ETF a dividend paying index fund a dividend-paying mutual fund now instead of investing in one company like let's just say apple now you can invest into a basket of companies that have say 500 different companies in here and apple is just one of the companies and there's 499 other dividend paying companies in here so now you can go and find these dividend paying funds again you have ETFs mutual funds index funds you go and find one of these dividend paying funds that invest in companies that are paying a dividend now you invest in one thing that's investing in 500 different companies now you can lower your risk because if Apple were to go bankrupt well now you have 499 companies to balance it out this way you can lower your risk and keep getting those dividends that now you can just keep throwing the money into one of these funds"

"option number two is you invest in real estate now you're going to go out and buy a property maybe it's a house maybe it's an apartment complex maybe it's an office building if that's something you're into maybe it's a retail building maybe it's a mixed use building maybe it's a storage building you're going out and you're buying this property but you're not buying it to live in or use yourself you're buying it to rent out to somebody else so now you buy this property you rent it out to somebody else maybe they'll live in or use this property and then in exchange for them living in and using a property they pay you rent now the key here is this rent has to be enough to cover your property taxes your insurance your maintenance your management fees any vacancy costs and then if you have any debt cover that as well and then put some money in your pocket each and every month that's the right way to invest in real estate"

"that's not the game that I play that's too risky that's too speculative because I have no idea where housing prices or real estate prices are going to be in a year I don't like to play that game what I like to do is I want to make sure I can make it profit in my cash flow every single month and just keep working to accumulate the cash flow I just want to keep stacking the cash flow because now I know okay this property is going to make me 250 a month if this property is going to make me 250 a month I gotta buy a second one for another 250 a month after 10 I get 2 500 a month coming in in profit after 100 I got 25 000 coming in in profit and now it's the game of just stacking cash flow and how fast can I stack that cash flow"

"the whole idea of multiple streams of income makes sense because now you're not relying on one income like if you have this accounting business and you only have one client and this client leaves you now you have no more money coming in but if you have five different clients or ten different clients that one leaves you it's not as big of a deal same with your job I mean if all every money is coming in from your job and you have no other streams of income and then you get fired from your job now you have no other money coming in there's a few different strategies or ways to look at multiple streams of income one way is okay I want to become wealthy and so I'm going to do a whole bunch of different things because hopefully one of these things is going to stick and make me very successful so I'm gonna start this e-commerce business I'm gonna do freelancing I'm gonna do this affiliate marketing I'm gonna do the side hustle and I'm gonna do a bunch of these things and hopefully one of these is going to make me a millionaire number two is okay I go to work every single day and I make a good paycheck but then I'm gonna invest some of my paycheck into real estate and stocks and these passive Investments that way now I can create new passive streams of income and number three is I'm gonna put all of my eggs in one basket and I'm gonna work really hard to do this one thing and create this one stream of income really big and once I do that then I'm gonna have more money to invest into a whole bunch of other things and create more streams of income"

"now let me show you why I'm not a fan of this method anymore because let's assume that you have fifty thousand dollars and you want to start creating these multiple streams of income so you already work on a job and you got this extra fifty thousand dollars and most of your time is going to a job now one of the things you're going to do is you're going to invest some of this money into the stock market so you can put ten thousand dollars into the stock market then you want to start this business because you want to create this profit income well you're already spending all this time at your job and now you got to put some money into starting this business maybe you put another ten thousand dollars into starting this business but now you're working a full-time job and starting a full-time business while you're putting some money into your stock market Investments if he really believed in your business why are you investing in the stock market when you could be funding more money into your business I mean the stock market might be able to get you a five six seven eight nine ten percent return a year on your money but if you can grow your business you can double your money in a year two years so now you have a little bit of money going into business you have a little bit of money going into your stocks and then you want to create this royalty income so you start writing this book and if you want to write a book takes a lot of time but it also takes money to publish the book and Market the book and get it out there you might put another ten thousand dollars into getting this book out there because you want to create this royalty income but now if he really believed in this book why are you putting so much time and money into this different business I mean you could just be pushing this book and create this real royalty income from a book and now you want to invest in real estate on top of that and you got a little bit of money left and now you're gonna put this money as a down payment to invest in this rental property but you don't know any contractors you don't know any real estate agents you don't know any real estate attorneys and so you're kind of just going through the deal trying to find this way to create this passive income but you're spreading yourself too thin you had fifty thousand dollars that's a good amount of money but you're putting some money here here here here but it's not taking you anywhere because you're not believing in yourself in anything you're just spreading yourself everywhere hoping Something's Gonna stick but when you do everything you end up doing nothing"

"so now it's not these kind of different things where oh yeah let me do some affiliate marketing here let me do the Shopify store here oh yeah let me do this freelance hustle here all these things are uncorrelated unrelated ladder steps now it's a wheel where everything is building each other you're trying to build the central piece the tough thing about doing this is you stop being so Broad and you get narrow and the issue that I face and I know a lot of people face when they try to get narrow is you feel like you're missing out on a lot of opportunity because now you think oh I'm not doing this and I'm not doing that and I'm missing the opportunity to make money here and I'm missing the opportunity to grow my business this way but when you are not so broad then you have the opportunity to really focus and make money in a specific Niche and now you're focusing and you can really be the master at one thing now when you can really Master one thing then you can go out and start to get bigger and bigger because you've already mastered one thing and you've built one spoke but when you're so Broad and so General you try to do so many different things you end up going nowhere and nobody knows you for anything you're just there but you got to focus on one thing build this one thing and then once you are worth a million dollars doing one thing now you can really start diversifying and using your money as a tool because now you have the capital to do that and you can use your money to help fund these new things these new streams of income because now you have the capital to do that and you have the one thing to help support these other things and now as you grow maybe you want to diversify and put your money somewhere else now you have the capital to do that because you have built something and now you have more money and now instead of you investing your time to build something else you have the capital to go and invest in something completely different learn how to do it and use your money as a tool to help grow it"

"if you're in your 20s right now you got to understand that you're young and you have time to recover from Financial setbacks which means you have the ability to take risk I had to start and build a handful of different businesses before I really understood what I took to scale a business some of these businesses completely failed some of them made me a lot of money but then it also took me a lot of time to understand how to invest my money which meant there was times where I lost money the real upsides that you have in life financially all come with risk now the reason why most people will never be able to achieve the real wealth that they dream of is because they're not willing to to take that risk they always think oh what happens if I quit my job then how am I going to pay my bills how am I going to feed my family how am I going to continue on with my life if I take this risk and invest my money what happens if it doesn't work out if I take this risk what happens if I fail how am I going to go back to my husband or my wife how am I going to tell my kids that I failed how am I going to live with myself if I take a risk and it doesn't work out for me but when you're young one of the biggest advantages that you have on your side is time because you have time to recover from your risk and your failures and that is one thing that you can never get back"

"this is the time that you have to take risks get rid of all these liabilities get rid of the fancy car get rid of the brand name stuff for a little while and invest this money in you if you have a business idea go for it if you want to make an investment go for it this is your time to do something look I don't say any of this to brag I'm saying this to get a point across because you're not going to get any younger and your responsibilities are only going to grow as you get older so this is the time to take risks the first time I made six figures I was in school and I was driving around in a beat-up car probably worth 500 the first time a business made a million dollars in a year I was still in my 20s and I was still driving that beat up car worth 500 dollars because I wanted to invest everything ahead back into myself because this was my time to really build grow and take risks"

"the thing that you have to understand about the speed of your money is that more speed comes with more risk right here in your savings account you have no risk you're taking a hundred dollars a thousand dollars you're depositing in your bank and you can get it whenever you want so you're rewarded with very little returns if you put your money into a CD now you have a little bit better returns but you still have very little risk because the only real risk with your CD is you can't access your money for a certain period of months or certain period of years now if we go down this with some more speed into these passive Investments like the stock market or real estate you have more speed but you also have more risk you're not guaranteed to make money in the stock market or with real the state sometimes the markets will go up sometimes they will go down you're not guaranteed to make 10 sometimes it's going to be higher sometimes it's going to be lower so more speed more risk and when you come down here to the business where you have the most potential speed you also have the most risk"

"pass investing is when you take some of your money and you funnel it into the stock market or real estate and then you walk away this is something that everybody it doesn't matter if you're working your job or starting a business or whatever this is something that everybody needs to be doing every time you get paid you should funnel a portion of your paycheck into these Investments whether it's stocks or index funds real estate it doesn't matter you just need to keep funneling some of your money into these passive Investments this way now your money is out working hard to build you wealth the more money and the more time you have the more wealth you will be able to build the thing people get confused here is they confuse passive investing as a way to get rich quick so when they don't see their Millions right away they get disappointed and they stop doing it the reality is pass investing is not a way for you to get rich quick it's a way for you to get rich and build wealth slowly"

"money is a tool it doesn't make you a good person and it doesn't make you bad person money is just a tool that amplifies who you are if you're a good person and you have more money now you have a tool to do more good if you're a bad person and you have more money well now you have a tool to do more bad this is why we need more good people with money"

"now with money it takes a couple push of a buttons and now you can print out a hundred dollar bill what this means is if you go to work for 10 years and you save all this money you're going to save up a lot of money because you put in a lot of value over this 10 years at your job but if you just keep this money in the bank somewhere your money is not going to grow it's going to sit there flat but because this money that you're saving is just paper money the United States government has the ability to print money on command and we've seen this happen year after year after year the United States government keeps printing more money the United States National Debt keeps growing and when that happens more dollars enter economic circulation and each new dollar now dilutes the value of another dollar because as you have more dollars in the economic system the value of each dollar goes down that's why the price of Coca-Cola has gone up by 20 times over the years it's not like the value and the taste of a Coca-Cola has gotten 20 times better it's that the value of your dollar which is buying the Coca-Cola has dropped"

"so what you want to do is first understand this and now when you're going to work to earn this money these paper dollars you want to convert these paper dollars into something that will hold its value on one end this could be something like gold and silver or it could be cryptocurrency now cryptocurrency is a whole lot more volatile you want to make sure you understand what you're doing in cryptocurrency before you just blindly throw your money in there but there's a lot of opportunity in cryptocurrency that's gonna be putting your money into the stock market because now you're investing your money into assets right now you're investing your money into companies that you believe in or you're investing your money into the general American economy if you're investing your money into index funds or ETFs this could mean investing your money into physical real estate buying rental properties which will now pay you with cash flow and now you own a tangible real asset that you can see feel and touch"

"money is a byproduct of the value that you provide it is not a byproduct of how hard you work this was a really hard lesson for me to grasp because I grew up with this mentality with the harder you work the more money that you're going to make now hard work is very important I work very hard but there is a right way and a wrong way of working hard if hard work was the most important indicator as to how much money you would make then every construction worker and every laborer would be a millionaire but they're not why because money is a byproduct of the value that you provide it is not a byproduct of how hard you work"

"labor work is really what most people consider as hard work if you're going out and you're working at a construction site you're going out and you're doing heavy things you're lifting heavy things and you're moving things you are breaking your back to do this type of Labor work this type of work is hard but it also pays the least then we have more of the busy work this is what a lot of people who graduate college are working as you get your first or second job and you're working as a low-level associate for a lot of companies and in this case you're doing a job that could really be automated but companies really don't want to figure out how to do that and either you're making phone calls trying to get clients you are a customer success manager you are an analyst and they're just reviewing Excel sheets or you're making Excel sheets but you just a whole lot of busy work where every single day you're grinding you were just hitting the books you're hitting the papers you're on the computer working day after day after day doing this type of busy work you can make more money here than here but the real money comes here and the thinking work these are your Executives in the company your Executives and the company are now working every single day doing this type of busy work they're not on Excel every single day trying to build spreadsheets and trying to build analysis and formulas what they're doing is they're thinking how do we allocate our Capital how can we come up with new business ideas how can we invest in growth how can we innovate for the future this is the highest paid work but physically it is the least hard work"

"riches are measured in what you can buy and wealth is measured in time if you have a million dollars then you're rich you can go out and buy yourself a fancy car you can buy a nice home you can go on some fancy applications but eventually you're going to run out of this million dollars and you're no longer going to be rich you're going to have a whole bunch of nice things but you have no money left and now you're no longer Rich wealth is different wealth is measured in time and wealth is when your assets are greater than your liabilities"

"what wealthy people do is any time they get paid anytime they get money the first question that they ask is how can they pay themselves how can they invest as much money as possible this might mean buying rental properties this might be investing money in stocks whatever it is is and then after they invest their money then they're going to see how do I spend whatever's left what should I spend my money on because what wealthy people are doing is they're living off of their assets their assets are out making that money and that's the money that they live off of I don't work for money I don't work to get paid that way I have money to spend I work to buy assets and then I live off of the money that my assets are paying me"

"you can also invest your money in the stock market Market the stock market works because it's very accessible you can invest your money into ETFs you can invest your money into individual companies that you believe in that you think you're innovating for the future now again just because it's accessible doesn't mean it's easy but it provides opportunity for you to now invest your money and build real wealth"

"also I just realized that I never changed one to two but now let's move on to number three the third money allowed that I want to go over and I actually remember to change the number this time is that freedom comes with wealth freedom is not in riches the best definition that I have of this is that riches are measured in what you can buy and wealth is measured in time if you have a million dollars then you're rich you can go out and buy yourself a fancy car you can buy a nice home you can go on some fancy applications but eventually you're going to run out of this million dollars and you're no longer going to be rich you're going to have a whole bunch of nice things but you have no money left and now you're no longer Rich wealth is different wealth is measured in time and wealth is when your assets are greater than your liabilities and what this means now is let's assume that your expenses every single month your liabilities are three thousand dollars a month but every single month you get a check in the mail from your assets you get a check from your Investments and you check every single month is thirty five hundred dollars now you are free now you are wealthy because every single month your assets are paying for your liabilities and you have time to do whatever it is that you want you're not going to be tied down to a job that you hate you're not going to be forced to do things that you don't want to do because you're already wealthy you got your time now you can use your money however you want if you have a million dollars and you're spending a hundred thousand dollars a month well not a million dollars only is worth 10 months of wealth because after this million dollars is spent now you have nothing you're not wealthy you might have a whole bunch of nice things that make you look rich but in reality you're broke wealth comes with time that's why Freedom comes with wealth and the goal to be financially free the goal should be wealth not riches and the way that you do that is by working here to buy more assets you can see how everything is kind of building on top of one another right these assets are the things that we've been talking about this could be buying rental properties this could be investing your money into the stock market this could be investing your money into cryptocurrency this could mean investing your money into models like gold although I don't really consider gold an investment to me gold is just money it's physical money real money that has value that you can measure through the time effort and labor that it takes to mine gold I own physical gold and for me that's just money but these Investments are assets that you now want to own that way you have this sort of wealth Freedom see what every wealthy person does is any time they get paid anytime they get money the first question that they ask is how can they pay themselves how can they invest as much money as possible this might mean buying rental properties this might be investing money in stocks whatever it is is and then after they invest their money then they're going to see how do I spend whatever's left what should I spend my money on because what wealthy people are doing is they're living off of their assets their assets are out making that money and that's the money that they live off of I don't work for money I don't work to get paid that way I have money to spend I work to buy assets and then I live off of the money that my assets are paying me and so this is the mindset that you have to work towards it's not something that happens overnight this is something happens over years if not a few decades but this is something that you have to be striving towards and the more aggressive that you can be the faster it will happen if you're investing in physical real estate well now you own a property that's going to be paying you with cash flow the downfall with real estate is it takes a lot of capital for you to go out and start investing in real estate if you're investing in real estate well now you can go out and buy a property that's going to be paying you with cash flow the problem with that is going out and buying a property isn't very easy and it takes a lot of work and it also takes a lot of capital it takes a lot of cash to go out and buy a house or an apartment complex you can also invest your money in the stock market Market the stock market works because it's very accessible you can invest your money into ETFs you can invest your money into individual companies that you believe in that you think you're innovating for the future now again just because it's accessible doesn't mean it's easy but it provides opportunity for you to now invest your money and build real wealth and if I'm just focusing in on the stock market you can choose how you can get paid you can get paid through this type of cash flow if you're investing in dividend paying companies where you can invest in individual companies or ETFs that way you can get long-term growth again it just depends on what your goal is which is why you need to be financially educated that way you can invest your money the right way or you can look at investing your money into cryptocurrency again this is why education is so important a lot of people still don't understand the value of cryptocurrency because there's a lot more to it than just a physical currency there's a whole technology behind it which is really gaining a lot of popularity now and there are ways for you to earn interest on your cryptocurrency and you'll earn more interest here than you will by keeping your money in the bank account but you have to be educated that way you understand the risks that we understand what you're doing and that we we understand what it is that you're investing in"

"so I like to follow something called the quadrific triangle this is something that I created which I believe helps to diagram how money plays a part in our lives so our lives are kind of comprised of four different parts which can fall into this triangle Maslow has his hierarchy of needs I have this quadrafit triangle at the bottom of this quadrafit triangle is physical Fitness and I call it Fitness because you need to be fit in these four categories if you want to be able to live a happy and healthy life physical fitness means if you were on your deathbed right now it doesn't matter if you got 10 million dollars the only thing you're going to care about is how can you be healthy how can you breathe how can you be able to walk again right so at the bottom you have to be physically fit because if you're morbidly obese if you have a tough time breathing it doesn't matter how much money you have the only thing you're going to care about is how can you be healthy after you are physically fit then it's all about mental Fitness mental health is finally getting some traction and people are finally started to talk about it and care about it this is so so so important I used to be one of those people used to always say depression doesn't matter depression isn't real and then I started to see my own friends go through with people that I loved people that I care about and I have seen people very close to me take their lives because of this mental health is so important if you are depressed if you are anxious and it is eating up your life it doesn't matter how successful until you become it doesn't matter how much money you have you will never be able to live happy so what you need to do if you are struggling with this mental Fitness is one obviously surround yourself with people that you love get rid of toxic people but then get yourself the support that you need get a therapist talk to a psychiatrist check yourself into rehab if you need to it doesn't matter what the cost is go and spend it because even if you have to spend twenty five thousand dollars to go into rehab to take care of yourself well it's an investment in you because unless this is taken care of Nothing Else Matters it doesn't matter how much money you have if over here you are not okay so you got to be physically fit you got to be mentally fit and then you got to be spiritually fit now this doesn't have to mean religious Spirits truly fit is what is your purpose what are you getting up to do every single day what is your passion what is your purpose what are you getting up for to accomplish every single day why are you on this Earth every single person has a different passion and a different Mission which is one one of the reasons why I love entrepreneurship because entrepreneurs are in the business of solving problems somebody cares more about world hunger somebody cares more about the environment somebody cares more about the animals in the ocean right everybody has their own passion everybody has things that they care about and this is where you got to figure out what are you spiritually here for what is your purpose what is your passion because every single person here has a reason for why you need to get up every single morning but if you don't know that it doesn't matter how much money you have the money is just going to make you more miserable you need a reason to get up every single morning"

"once you're physically fit and then you're mentally fit and then you're spiritually fit that's where money plays A Part everybody says money cannot buy happiness because they assume that people are gonna make money here to either make up for the lack of spiritual Fitness the lack of their mental Fitness or the lack of the physical Fitness this is where money cannot be happy penis because yeah you cannot use money to make up for a void in one of these things and this is what so many people try to do they think oh yeah I'm not healthy but if I was rich things would be better or yeah I'm not happy but if I was rich then I'd have more friends or yeah I have no purpose but maybe if I'm rich I'll feel like I have a purpose but that's not how it works money and financial Fitness helps you here it helps to be financially fit nothing else that's why if you want to live a great life and you want to live a rich life you need to understand how money plays a part in your life and where money plays a part in your life because in order to really enjoy this money that you have you need to make sure you have the building blocks first"

"money is fuel it's a tool it amplifies who you are if you are a bad person and you are miserable and you have more money now you're going to be more miserable and you have a tool this money to do more bad Deeds if you are a good person and you're happy and you have more money now you have a tool that's money to do more things that make you happy and you have a tool to do more good our brand talks so much about financial education because the reality is money does play a part in our lives yeah many of us don't understand where or how but money is important but at the same time many of us are never taught how to use money and understand money the right way and in our culture and Society it's almost like taboo to talk about money it was the same way for me when I was growing up I was always told don't talk about money don't worry about money don't think about money like that because it's bad but I was also told to go and become a doctor because for my parents and a lot of my family the richest people that they knew and the most successful people that they knew were doctors so they assumed okay if you go and become a doctor then you'll be able to become successful and then you can live a great life but things just didn't add up for me if money doesn't matter you're not supposed to talk about money why do I have to go and become a doctor to earn this High salary when money isn't that important"

"that's when I dove into entrepreneurship and I started an event planning business in college because I thought okay now if I make this money I can work towards being financially free the problem was I didn't like what I was doing I don't drink I don't smoke I'm not into the party business but I was hosting parties every single week and a few years into it I got burned out the business was making great money but I just didn't like doing it the business failed but I did it yeah we made good money but beyond that I learned a lot I learned how business worked I learned how to get customers I learned how to sell I learned how to Market and even more importantly than that I learned how money really plays a part in our lives"

"life is like a cake and money is the icing if you are not happy and you're miserable it doesn't matter how much money you have the icing okay if you have a bad cake and you try to slather it and cover it up with a whole bunch of icing the cake is still gonna taste like crap because the cake the life is miserable but this is where things get interesting because if you have a great cake but no icing the cake is still not as good as it can be because the cake is going to be dry money is still a part of the life you still need the icing on the cake"