MASTERCLASS: How To ACTUALLY Manage Your Money Like The 1%

"The difference here is the majority of people make money they spend their money and then if there's any money left that's when they save it and that's when they invest it wealthy people the 1% what they do is you make money and then you save it and you invest it first and then you only spend what's left after saving and investing"

"for every dollar you earn here so you make $1 from your paycheck or your business or however you make your money every time you make a dollar it's going to flow down in this way out of this dollar. 75 cents is the maximum you can spend 15 cents is the minimum you should invest and 10 cents is the minimum you should save"

"if you're younger and you don't have a ton of financial responsibilities then this is your time to build what you should be doing is following our 50 302 plan that means now you're spending less money you're only spending 50 cents out of every dollar you earn but you're investing 30 cents and you're saving 20 cents"

"your goal should be to save something like 3 to 6 months worth of expenses in your savings account... but if you really want to protect yourself and you want to be really risk adverse then you should have something like 12 months worth of expenses saved"

"if you can understand that idea of compounding your money with growing contributions you will know how to double your money triple your money quadruple your money"

"wealthy people the 1% what they do is you make money and then you save it and you invest it first and then you only spend what's left after saving and investing because investing and saving what's going to build your wealth investing is going to build your wealth even more savings just really protecting your wealth but you need to do these two things first that way you can build your wealth"

"the way that I invest my money I look for a 7% cash on cash return on my money meaning for every dollar that I invest I'm looking for 7 cents of profit from cash flow from the property this does not include appreciation"

"my sweet spot because I look for distressed properties and these could be physically distressed or financially distressed"

"you could take this $50,000 a year and you could turn this into your monthly salary which means you could make $50,000 a month and now this might seem absurd but it is possible but you could also take that and turn it into $50,000 a week might seem absurd but it's also possible"

"if you're making $30 an hour and you're watching 2 hours of Netflix a day that means your Netflix isn't costing you $150 a year that means your Netflix is costing you the opportunity to earn an additional $10,000 a year because that's $30 an hour of TV that you're watching when you could have been using your time to earn some more money"

"the thing that wealthy people do is that they use the cash in the bank account as a means to an end they use the cash as a means to get other assets which is what they actually want to own they use the cash to buy stocks they use the cash to buy real estate that's producing rental income they use this cash to buy businesses or they use this cash to buy other hard assets things like physical gold"

"the way you become wealthy is not just by stacking cash that's good that you're saving cash that's good that you're stacking cash that's part one but now you want to do part two which is convert this cash into an asset that's actually going to pay you for owning it"

"the people that actually make money from their Investments are not the people that make an investment for 6 months or 6 days or even 6 years these are now the people that are investing their money for the long term and now if you can become a Buy and Hold investor where now you're holding on to Investments for the long term maybe even forever now you have the opportunity to make much more money"

"in the beginning it's going to be all you I've been there you got to put in the work to grow it to get it off the ground to make your first dollar it could take you two years to make your first dollar but once you learn how to make your first dollar now you can just keep repeating that to make your first $100 and you keep repeating that to make it first $1,000 and you keep repeating that to make it first $100,000 and you keep repeating that to make it first million do"

"if you want to be a multi-millionaire you want to be super rich you want to be part of the elite wealth class you're going to have to do something a little bit different which means you might need to earn more money now if you can't earn that from your job then maybe you need to own something because when you're just working a job the only thing that you own is you and your own labor but if you own the business you own The Entity well now you control the ownership of the business"