Stop Saving Money (Do These 3 Things to Get Rich)

"Warren Buffett did a very similar bet against uh some major hedge funds on Wall Street. And what he bet it was a $1 million bet that the winner would give a million dollars and then they would go to charity. And his bet was that the average person would be better off by investing their money into a lowcost index fund as opposed to actively managing their money, actively trading their money like the hedge funds were doing over the long term over a 10-year period."

"And what happened was exactly what you said in the beginning, the hedge funds were crushing the index fund. Uh the the the index fund was down, hedge funds were going up because they were able to find these trades and make all this money in the short term. And uh the media was asking Warren Buffett, how do you feel about it? He said the 10 years are not up yet."

"And then come year 10, well then we had some swings on the market, some hedge funds had some losses. He took out their fees, which is also a big chunk of it. After factoring in the fees and all that other stuff, the index board and what did he do? He just put his money into it, sat back, and didn't do anything. Versus the hedge funds are spending all their time managing the money, trying to beat the markets. and they did for a little bit, but then over the long term they didn't. And then when you factor in their fees for spending all that time trying to beat the market, now your returns are less than if you just put your money into the market and didn't have to do a thing."

"If you want to become wealthy, question answer is yes. Okay. What are you willing to sacrifice? You have a BMW in the driveway. You got the Gucci belt. You have the Louis Vuitton. If you have this nice stuff, but you don't have the nice assets, your priorities are in the wrong place."

"the people that want to actually be rich, we want to be rich today. want to be rich tomorrow, not be rich in five, 10 years."

"And the reality is that boring is where the real wealth is built."

"boredom kills more entrepreneurs, kills more dreams than fear or failure."

"When you think about what money really does for you, you have to understand peak emotion."

"If you want to be an entrepreneur like that is high risk, high potential reward, high potential failure. If you optimize your entrepreneurial journey for failure mode and you're like even in failure, I'm having a good time."

"If you want to live a happy and fulfilled life you have to be fit in four aspects of life. And it's think of it like a triangle. We're on the bottom of the triangle, you have to be physically fit, then mentally fit, then spiritually fit, and on the top financially fit."

"If you have money and you don't have these other three things, you're going to feel miserable. And then what's the point of having money if you're not happy?"