Blog + Diamonds
VIDEO SUMMARY
Embark on the Journey: Essential Steps to Transform Your Financial Future!
Hey there, fellow dreamer! Ever wondered why some people seem to effortlessly attract wealth while others struggle to make ends meet? 💰
Well, buckle up because we’re about to dive into some eye-opening truths about money that will blow your mind! 🤯
From busting common myths about money to challenging societal norms, we’re uncovering secrets that will change the way you think about finances forever! 💡
Think you know it all? Think again! We’re talking about why working hard isn’t always the answer and how debt can actually be your ticket to financial freedom. 💪💸
But wait, there’s more! We’re debunking age-old beliefs about retirement, exploring the real importance of money in our lives, and revealing why traditional education might not be the key to success after all! 📚🎓
Ready to take control of your financial future? 🔥
It’s time to dream big, challenge the status quo, and unlock the secrets to wealth and success! 🌟
Don’t miss out on this journey to financial empowerment and personal fulfillment! Click the link and join us on the path to a brighter, wealthier future! 🚀💼
#FinancialFreedom #DreamBig #WealthBuilding
Step-by-Step Guide
Step 1: Identify and Challenge Common Money Myths
Description:
Recognize and challenge the common misconceptions about money that have been ingrained in society.
Implementation:
- Understand that common beliefs about money may not always lead to wealth and success.
- Acknowledge that societal norms regarding money, such as the importance of job security and working hard, may not be accurate.
- Reflect on personal experiences and question whether following traditional advice has led to desired financial outcomes.
Specific Details:
- Take note of any beliefs or advice regarding money that have been inherited or learned from family, education, or society.
- Be open-minded and willing to challenge long-held beliefs about money, recognizing that alternative perspectives may lead to better financial strategies.
- Consider seeking out resources, such as books, articles, or videos, that offer different viewpoints on money management and wealth accumulation.
Step 2: Educate Yourself on Financial Literacy
Description:
Invest in increasing your financial knowledge and understanding.
Implementation:
- Engage in financial education through various mediums like books, podcasts, online courses, or seminars.
- Focus on learning about personal finance, investing, entrepreneurship, and wealth-building strategies.
- Seek out reputable sources of financial information and advice.
Specific Details:
- Start with foundational topics such as budgeting, saving, and debt management before delving into more advanced concepts like investing and asset allocation.
- Utilize a variety of resources to gain a well-rounded understanding of financial principles, including both theoretical knowledge and practical application.
- Actively seek out opportunities for continuous learning and self-improvement in the realm of financial literacy.
Step 3: Shift Your Mindset from Employee to Entrepreneurial
Description:
Transition from a mindset centered around job security to one focused on entrepreneurship and wealth creation.
Implementation:
- Challenge the traditional notion that job security is the key to financial stability.
- Embrace the mindset of an entrepreneur, recognizing opportunities for creating value and generating income independently.
- Start thinking creatively about ways to leverage skills, resources, and interests to build wealth.
Specific Details:
- Cultivate an entrepreneurial mindset by seeking out opportunities for innovation, problem-solving, and value creation.
- Emphasize self-reliance and independence in financial endeavors, moving away from dependence on traditional employment structures.
- Explore avenues for generating passive income, such as starting a business, investing in real estate, or creating digital products.
Step 4: Leverage Debt Wisely
Description:
Understand the distinction between good and bad debt and leverage debt strategically to build wealth.
Implementation:
- Differentiate between good debt, which can contribute to wealth-building, and bad debt, which diminishes financial stability.
- Utilize good debt, such as loans for investment properties or business equipment, to generate returns and increase assets.
- Avoid accumulating bad debt, such as credit card debt or loans for depreciating assets like cars, which drain wealth without providing value.
Specific Details:
- Conduct thorough research and analysis before taking on any debt to ensure it aligns with long-term financial goals and can contribute positively to wealth accumulation.
- Prioritize paying off high-interest bad debts while strategically managing and leveraging good debts to maximize returns and minimize risks.
Step 5: Take Personal Responsibility for Retirement
Description:
Reject the notion that the government will solely provide for retirement and take proactive steps to secure financial independence.
Implementation:
- Understand that relying solely on government support for retirement is inadequate and unreliable.
- Take personal responsibility for retirement planning by saving, investing, and building passive income streams.
- Explore various retirement savings vehicles, such as individual retirement accounts (IRAs) or employer-sponsored retirement plans, to supplement government benefits.
Specific Details:
- Develop a retirement savings strategy that accounts for individual financial goals, risk tolerance, and time horizon.
- Regularly review and adjust retirement plans as circumstances change, ensuring continued progress towards financial independence.
- Seek professional financial advice if necessary to optimize retirement savings and investment strategies.
Step 6: Acknowledge the Importance of Money
Description:
Recognize the significance of money in achieving various aspects of well-being and happiness.
Implementation:
- Understand that while money may not be the sole determinant of happiness, it plays a crucial role in providing security and enhancing overall quality of life.
- Challenge the misconception that money is inherently evil or insignificant.
- Embrace a balanced perspective on money, acknowledging its importance while also prioritizing non-material aspects of fulfillment.
Specific Details:
- Reflect on personal experiences and observations to recognize the ways in which money influences different aspects of life, including mental health, opportunities, and lifestyle choices.
- Cultivate a healthy relationship with money by setting clear financial goals, managing resources responsibly, and prioritizing values beyond material wealth.
Step 7: Reframe Your Perception of Money
Description:
Reevaluate your perspective on money as either inherently evil or a tool to facilitate important aspects of life.
Implementation:
- Reflect on personal beliefs and experiences regarding money, considering whether they align with the belief that money is inherently evil.
- Acknowledge the role of money as a tool for achieving and maintaining quality of life, rather than viewing it solely as a source of problems or corruption.
- Shift towards viewing money as a neutral resource that can be utilized to support personal values and priorities.
Specific Details:
- Engage in introspection to identify and challenge any negative beliefs or misconceptions about money inherited from societal narratives or personal experiences.
- Consider the ways in which money can positively impact various aspects of life, such as health, security, and opportunity.
- Cultivate a mindset that embraces financial empowerment and responsibility, recognizing the potential for money to serve as a tool for personal growth and fulfillment.
Step 8: Understand the True Nature of Wealth
Description:
Recognize that wealth is not inherently negative and understand that it can be acquired through diligent work and intelligent investment.
Implementation:
- Challenge the stereotype that wealthy individuals are inherently selfish or morally corrupt.
- Understand that wealth can be earned through ethical means, such as hard work, entrepreneurship, and strategic investing.
- Embrace a balanced perspective on wealth, acknowledging its potential as a reward for productive contributions to society.
Specific Details:
- Avoid attributing negative characteristics to individuals solely based on their financial status, recognizing that wealth does not determine moral character.
- Explore examples of individuals who have achieved wealth through ethical and socially responsible means, highlighting the positive impact of wealth creation.
- Cultivate a mindset that values financial success as a reflection of personal achievement and contribution to the greater good.
Step 9: Rethink the Role of Formal Education
Description:
Challenge the belief that higher education guarantees success and consider alternative paths to financial literacy and independence.
Implementation:
- Critically evaluate the traditional emphasis on higher education as the primary path to success and financial stability.
- Recognize the limitations of formal education in providing practical knowledge about money management and wealth creation.
- Explore alternative sources of financial education, such as self-study, mentorship, and experiential learning.
Specific Details:
- Research alternative pathways to acquiring financial literacy and skills, such as online courses, workshops, or community programs focused on personal finance.
- Seek out mentors or role models who have achieved financial success through unconventional means, learning from their experiences and insights.
- Consider pursuing a combination of formal education and practical learning opportunities to develop a well-rounded understanding of money and wealth.
Step 10: Challenge the Status Quo and Dream Big
Description:
Challenge conventional beliefs and societal norms about money and success, and dare to dream big.
Implementation:
- Question the status quo regarding wealth, success, and the traditional paths to financial security.
- Encourage yourself to envision ambitious goals and aspirations, regardless of perceived obstacles or limitations.
- Embrace the discomfort and uncertainty associated with pursuing big dreams, recognizing the potential for growth and fulfillment.
Specific Details:
- Engage in self-reflection to identify any limiting beliefs or fears that may be holding you back from dreaming big and pursuing ambitious goals.
- Surround yourself with supportive individuals who encourage and inspire you to think expansively and aim for extraordinary achievements.
- Take deliberate action towards realizing your big dreams, breaking them down into smaller, actionable steps to make progress consistently.
Step 11: Engage with Financial Education Communities
Description:
Participate in financial education communities to enhance learning, share insights, and support others on their journey to financial literacy and independence.
Implementation:
- Seek out online forums, social media groups, or local meetups focused on financial education and personal development.
- Actively participate in discussions, ask questions, and share experiences with like-minded individuals who share similar goals and aspirations.
- Contribute to the community by providing valuable insights, resources, or encouragement to help others on their financial journey.
Specific Details:
- Explore various online platforms and communities dedicated to financial literacy, such as forums, Facebook groups, or subreddits focused on personal finance.
- Attend local workshops, seminars, or networking events related to financial education to connect with individuals who share your interests and goals.
- Take advantage of opportunities to learn from experts and mentors within the financial education community, leveraging their knowledge and experience to accelerate your own learning and growth.
Step 12: Share Knowledge and Empower Others
Description:
Share your knowledge and experiences with others to empower them on their journey to financial success and personal fulfillment.
Implementation:
- Share insights, tips, and resources related to financial education and wealth-building with friends, family, and colleagues.
- Offer support and encouragement to individuals who are seeking to improve their financial literacy and take control of their financial future.
- Lead by example and demonstrate the benefits of financial empowerment through your own actions and achievements.
Specific Details:
- Start conversations about money management and wealth-building with those around you, creating a supportive environment for open dialogue and learning.
- Share relevant articles, books, or videos on financial literacy with your social circle, encouraging them to explore and expand their knowledge.
- Offer guidance and assistance to individuals who are interested in taking steps towards financial independence, providing mentorship and support as needed.
Step 13: Apply Learning to Create Positive Change
Description:
Apply the knowledge and skills gained from financial education to create positive change in your own life and the lives of others.
Implementation:
- Take concrete actions to implement financial strategies and principles learned through education and self-discovery.
- Set specific goals and milestones to track progress towards financial independence and personal fulfillment.
- Share your successes and challenges with others, inspiring them to take control of their own financial future and pursue their dreams.
Specific Details:
- Develop a personalized financial plan based on your goals, values, and resources, incorporating strategies learned from financial education to guide your decision-making.
- Monitor your progress regularly and make adjustments as needed to stay on track towards achieving your desired outcomes.
- Celebrate achievements and milestones along the way, while also remaining adaptable and resilient in the face of setbacks or obstacles.
COMPREHENSIVE CONTENT
Introduction
Speaker: There are lies that are making the poor and the middle class poorer. And things changed for me when I realized that every lie we’ve been told about money is what’s holding us back and keeping us away from wealth in life. If you’ve been following popular advice about money and feel like you’re stuck in life, it’s not because you’re bad with money, it’s not because you’re not smart, or because you haven’t worked hard enough, it’s because of all these lies about money that have been implanted in us since childhood. Let’s begin.
Lie 1: Job Security
Speaker: From my rich dad, I learned financial intelligence, which taught me to detect lies and not be deceived about how to truly achieve that lasting and dreamed-of wealth by all. I don’t know about you, but I know what it feels like to be bankrupt and desperate. Now I’ve been able to achieve happiness, comfort, and most importantly, financial freedom. I achieved all this because I discovered in time that there are eight lies about money that the elites, corrupt governments with schools at their command, and dishonest bankers let us believe to keep as many people as possible in poverty. Unfortunately, these lies about money have been implanted in us since childhood. These lies deprive us of the independence to think for ourselves, to think like an entrepreneur, an innovator, or an investor, and even worse, they teach us to be dependent. Today it’s time to start thinking for yourself. Don’t fall for these 8 lies about money.
Lie 2: The Secret of Success is Hard Work
Speaker: My poor dad worked hard all his life. He went to school because he was told to go, he got a job because he was taught it’s what he had to do, he worked hard because it’s what he was supposed to do, yet he struggled financially all his life, and that often made him unhappy. My rich dad said, instead of working hard, work smart. Working smart is not only getting others to work for you but also wanting to work hard for your benefit, and it’s also getting money to work for you, not the other way around. Instead of working hard for money, you should be working smart, getting money to work hard for you. That’s what the rich do. As Warren Buffett says, “Make money while you sleep, or you will work until you die.”
Lie 3: All Debt is Bad
Speaker: From my rich dad, I learned that there are two kinds of debt: good debt and bad debt. Good debt is when you use other people’s money to make you rich, like borrowing money to invest in assets that put money in your pocket every month. Bad debt is when you use your own money to buy liabilities that take money out of your pocket every month, like borrowing money to buy a car that doesn’t make you any money. My poor dad thought all debt was bad and stayed away from it, but that’s why he struggled financially all his life. My rich dad knew how to use debt to his advantage and become rich. Don’t be afraid of debt; learn how to use it to your advantage.
Lie 4: You Need a High Income to Get Rich
Speaker: My poor dad always said, “I can’t afford it,” while my rich dad always asked, “How can I afford it?” My poor dad thought that to get rich, you need to have a high income, so he focused on getting a higher-paying job. My rich dad knew that it’s not how much money you make that matters but how much money you keep and what you do with that money that matters. You can have a high income and still be broke if you spend more than you earn. It’s not how much money you make that matters but how much money you keep and what you do with that money that matters. Instead of focusing on making more money, focus on keeping more of the money you make and investing it wisely to make it work for you.
Lie 5: You Need a Lot of Money to Get Started
Speaker: My rich dad always said, “You don’t need money to make money.” My poor dad always said, “I can’t afford it.” My rich dad knew that it’s not how much money you have that matters but how much financial intelligence you have and what you do with that money that matters. You can start with nothing and still become rich if you have the right financial education and mindset. Instead of saying, “I can’t afford it,” ask yourself, “How can I afford it?” Instead of focusing on how much money you have, focus on how you can use your money to make more money.
Lie 6: It’s Too Risky to Invest
Speaker: My poor dad always played it safe and stayed away from anything risky. My rich dad knew that the biggest risk in life is not taking any risks. You can’t become rich by playing it safe and staying in your comfort zone. You have to be willing to take calculated risks and step outside your comfort zone if you want to achieve financial success. Instead of saying, “It’s too risky to invest,” ask yourself, “What’s the risk of not investing?” The biggest risk in life is not taking any risks.
Lie 7: You Have to Be an Expert to Invest
Speaker: My poor dad always said, “I’m not an expert, so I can’t invest.” My rich dad always said, “You don’t have to be an expert to invest; you just have to know the basics.” You don’t need to be an expert to invest; you just need to know the basics and have the right mindset. You can learn everything you need to know about investing from books, courses, and mentors. Instead of saying, “I’m not an expert, so I can’t invest,” ask yourself, “How can I become an expert investor?” You don’t have to be an expert to invest; you just have to know the basics and have the right mindset.
Lie 8: It’s Too Late to Start Investing
Speaker: My poor dad always said, “It’s too late to start investing.” My rich dad always said, “It’s never too late to start investing.” It doesn’t matter how old you are or how much money you have; it’s never too late to start investing. The best time to start investing was yesterday; the second best time is today. Instead of saying, “It’s too late to start investing,” ask yourself, “How can I start investing today?” It’s never too late to start investing; the sooner you start, the better off you’ll be.
Conclusion
Speaker: Don’t let these lies about money hold you back from achieving financial success. Educate yourself, change your mindset, and take action to achieve your financial goals. It’s time to stop letting these lies control your life and start taking control of your financial future. Remember, it’s not how much money you make that matters but how much money you keep and what you do with that money that matters. Start today and take the first step towards financial freedom.
Lie 9: Rich People Have Debt
Speaker: Rich people generally have debts, but they have assets that cover those impressive loans. In fact, the rich not only have debts but they use them to become even richer. Because the difference between the rich and the poor regarding debts is understanding the difference between the reasons behind having them. There are two types of debts: bad debt and good debt. Bad debt is the one that makes you poorer, like maxed-out credit cards and loans to buy cars, among others. This is the type of loan used to buy liabilities. Good debt is the kind that makes you richer, like loans for investment property or buying equipment for your business that will give you a return. This is the type of loan used to buy assets. A simple example of good debt is my ownership of real estate. With a loan from the bank, I can buy a property by putting in only a small percentage of my own money. Then I rent out the property, and my tenant pays the cost of my loan while putting money in my pocket. You can get loans that pay for themselves.
Lie 10: The Government Will Take Care of You When You Retire
Speaker: People love to believe this lie. They think that because a country has a lot of money in its coffers, it will take care of them because they’ve been contributing to their retirement fund and to social security. They’re terribly wrong. Don’t believe this lie about money. The government can’t take care of you; only you can. And whenever someone tells me, “I’m too old to change,” I simply tell them the story of Colonel Sanders and his chicken recipe. At the age of 65, he founded KFC after realizing that his social security check wouldn’t keep him financially alive. He changed his mindset and changed his life.
Lie 11: Money Isn’t That Important
Speaker: It’s true, money isn’t everything, but it’s undeniably important. The old saying goes, “Money can’t buy happiness.” Turns out, scientifically, that’s wrong. A study measured happiness in many different forms, including subjective responses, mental health, and individual economic behavior. The result is clear: money brings peace of mind and makes you happier. For better or for worse, our understanding of money often shapes our lives, and our understanding of money is often something that is transmitted to us from a young age, received without a critical eye, and lived unpredictably. Because of this, money often governs us in ways we can’t understand because we don’t truly understand money and how it works.
Lie 12: Money is the Root of All Evil
Speaker: The idea that money isn’t important stems from a belief in its malicious existence, and it’s always those who don’t have money who seem to say this. Tragically, my poor dad wasn’t a very happy man in his later years. It’s not that money could have fixed everything, but I’m pretty convinced that if he had been better off financially, he would have been happier too. My rich dad, my best friend’s father, had a different view on money. He thought it was foolish to spend your life working for money and pretend that money wasn’t important. Rich dad believed that life was more important than money but that money was important to sustain life.
Viewing Money: A Tool or Evil?
Speaker: So, how do you view money? Is it evil or is it a tool to help you do what’s important? The way you answer that question changes everything.
Lie 13: Rich People are Greedy
Speaker: Once again, those who don’t have money love to point fingers at the wealthy as the cause of their problems, and with that comes anger and negative labels. Although wealth can breed corruption, let me repeat: money is simply a tool. Wealth can be the reward for working and investing intelligently, just like a marathon runner’s physical fitness is the reward for a focused exercise regimen.
Lie 14: Higher Education is Always the Answer
Speaker: When I was young, my poor dad always told me that the best path to success was to go to school. He believed it was the best way to get a good job. The problem was, my poor dad was one of the most educated people I knew, yet he always complained about money and how unhappy he was with his job. On the other hand, my rich dad had no degree, yet he was very wealthy and successful. Rich dad said, “School teaches you to be an employee. If you want to be rich, don’t count on school.” That doesn’t mean education isn’t important. Basic education you get in mandatory schooling is important for everything that comes afterward. And if you want to be a teacher, a lawyer, or a doctor, then obviously you’re going to need to go to college. But you won’t learn how money works in school. Education, especially in Latin America, doesn’t teach students how to live or be self-sufficient. It teaches us to be employees instead of our own bosses, workers instead of innovators. In fact, the rich use school to keep poor people poor. Education isn’t just extremely important; it’s everything. The question is, what kind of education will prepare you for the future? Those are the questions you have to answer.
Conclusion
Speaker: These lies about money are the ways the rich stay rich and ensure that the poor stay poor. If you have confidence in yourself, you’ll make the leap without believing these lies. So, I challenge you to dream big. The bigger the dream, the more intimidating it will be when you think about what it will take to achieve it. Small dreams may be easier to achieve, but they also lead to mediocrity and untapped potential. In conclusion, remember that at Financial Mentors, we are committed to authentic financial education and personal development in Spanish, and our commitment to you is to give you the best of us through our videos. The commitment we ask of you is your feedback. Give us your opinion, ideas, or contribute to the community in the comments below the video. We always read them, and they inspire us to see the testimonials of the changes we are causing in many people. Share, help us reach more people with these concepts. Share the content with your friends, acquaintances, and on your social networks. And create, use what you’ve learned to create something magnificent for your life. For your success and financial wealth, until the next video, The Financial Mentors.
