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VIDEO SUMMARY
Elevate Your Game: Essential Steps to Break Free from Financial Struggles
Ready to level up your financial game? 💰
Want to turn those paycheck-to-paycheck struggles into a thing of the past? 🤔
Let’s talk about it!
Ever wonder why some folks seem to effortlessly build wealth while others are stuck in the rat race? 🐭
It’s all about the mindset, my friend! 🔍
Imagine getting a fat bonus once a year and turning it into a steady stream of income for life. 😎
Sound too good to be true? Think again! 💡
Learn the secrets of performance-based compensation and how it can transform your financial future. 💸
Invest in yourself, invest in your future! 💼
Plus, discover the essential money lessons that can set you on the path to financial freedom. 💡
From networking to financial discipline, we’ve got you covered! 📚
Don’t let financial stress hold you back. Take charge of your money and start building the life you deserve! 💪
Ready to dive in? Click the link and let’s make it happen! 🌟
#FinancialFreedom #WealthBuilding #InvestInYourself
Step-by-Step Guide
Step 1: Define Your Measures of Success
Description:
Identify the metrics by which you measure your accomplishments and fulfillment, moving away from a focus solely on monetary gain.
Implementation:
- Reflect on What Brings You Happiness: Consider what truly brings you joy and fulfillment beyond financial success.
- Identify Non-Monetary Metrics: Determine alternative measures of success such as personal achievements, reaching targets, and aiding others.
- Focus on Tangible Goals: Set concrete goals that are measurable and achievable, such as helping a certain number of people or reaching specific milestones.
Specific Details:
- Happiness shouldn’t solely be tied to monetary wealth; consider accomplishments, targets achieved, and the impact on others.
- Measure success based on tangible outcomes rather than abstract concepts like happiness.
- Consider personal growth, impact on others, and contributions to society as valid measures of success.
Step 2: Embrace Sacrifice for Growth
Description:
Understand that growth often requires sacrifice and a willingness to give up certain things in pursuit of higher goals.
Implementation:
- Acknowledge the Need for Sacrifice: Accept that progress often necessitates giving up comfort, habits, or resources.
- Evaluate Trade-offs: Assess what you’re willing to sacrifice to achieve your goals, whether it’s time, resources, or habits.
- Commit to Continuous Improvement: Embrace a mindset of continual growth and recognize that advancement requires sacrifices along the way.
Specific Details:
- Growth involves letting go of familiar but limiting behaviors or mindsets.
- Success rarely comes without sacrificing something, whether it’s time, comfort, or security.
- Continuously reassess your priorities and be prepared to make sacrifices to reach higher levels of success.
Step 3: Set Ambitious Goals
Description:
Establish ambitious yet achievable goals to propel yourself forward and maintain focus on continual improvement.
Implementation:
- Dream Big: Allow yourself to envision lofty aspirations that push the boundaries of your current capabilities.
- Break Down Goals: Divide your overarching goals into smaller, actionable steps to make them more manageable and less daunting.
- Create a Timeline: Set deadlines and milestones to track your progress and maintain momentum towards your objectives.
Specific Details:
- Ambitious goals provide direction and motivation for sustained effort and growth.
- Break down big goals into smaller, digestible tasks to prevent overwhelm and facilitate progress.
- Regularly review and adjust your goals to ensure they remain challenging yet attainable.
Step 4: Prioritize Building Relationships
Description:
Recognize the importance of fostering meaningful connections with others to expand your network and create opportunities for growth.
Implementation:
- Say “Yes” to Opportunities: Be open to new experiences and opportunities that allow you to connect with different people and expand your network.
- Focus on Connection: Prioritize building genuine relationships based on mutual respect, trust, and shared interests.
- Contribute Value: Offer assistance, support, and expertise to others without expecting immediate returns, fostering goodwill and reciprocity.
Specific Details:
- Actively seek out opportunities to engage with others and build rapport.
- Genuine connections often lead to collaboration, support, and new opportunities for personal and professional growth.
- Approach networking with a mindset of generosity and contribution, aiming to provide value to others first.
Step 5: Curate Your Social Circle
Description:
Be selective about the people you surround yourself with, focusing on those who share your values, work ethic, and drive for success.
Implementation:
- Avoid Negative Influences: Steer clear of individuals who lack ambition, fail to follow through on commitments, or exhibit irresponsible financial behavior.
- Prioritize Contribution: Surround yourself with people who can contribute positively to your life, whether financially, intellectually, or emotionally.
- Evaluate Financial Responsibility: Assess the financial habits of potential associates, avoiding those who struggle to pay bills or contribute to shared expenses.
Specific Details:
- Choose friends and associates who inspire and motivate you to strive for success and hold similar values.
- Engage with individuals who demonstrate reliability, accountability, and a commitment to personal and financial growth.
- Cultivate a social circle of individuals who understand the importance of fiscal responsibility and actively work towards financial stability.
Step 6: Embrace Financial Discipline
Description:
Adopt a disciplined approach to managing finances, prioritizing investments over unnecessary expenditures to build long-term wealth.
Implementation:
- Budget Wisely: Allocate funds towards essential expenses while setting aside a significant portion for investments and wealth-building activities.
- Focus on Long-Term Goals: Shift your mindset from immediate gratification to long-term financial success, prioritizing investments that generate passive income and wealth accumulation.
- Avoid Excessive Spending: Resist the temptation to overspend on non-essential items, focusing instead on building assets and generating sustainable wealth.
Specific Details:
- Regularly review your budget to ensure that essential expenses are covered while maximizing investments.
- Prioritize investments that offer long-term returns and contribute to financial independence.
- Exercise restraint when it comes to discretionary spending, redirecting funds towards wealth-building opportunities.
Step 7: Implement Performance-Based Compensation
Description:
Adopt a performance-based compensation model for employees, incentivizing productivity and aligning their interests with the company’s long-term success.
Implementation:
- Offer Annual Bonuses: Provide employees with a significant annual bonus at the beginning of the year, directly tied to company performance and goals.
- Invest Bonuses: Encourage employees to invest their bonuses into company equity or other wealth-building assets, fostering a sense of ownership and financial growth.
- Receive Distributions: Instead of receiving cash bonuses upfront, employees receive distributions from their invested bonuses over time, ensuring long-term wealth accumulation.
Specific Details:
- Bonuses should be substantial enough to incentivize performance while also contributing to employees’ long-term financial security.
- Investing bonuses into company equity or other assets aligns employees’ interests with the company’s success and fosters a culture of shared ownership.
- Distributions provide employees with a steady income stream while allowing them to benefit from the company’s growth and profitability.
Step 8: Teach Essential Money Lessons
Description:
Impart critical financial lessons to children and individuals, focusing on key principles that promote financial literacy and long-term wealth accumulation.
Implementation:
- Emphasize Networking: Teach the importance of building relationships and networking, highlighting the role of connections in business and financial success.
- Promote Financial Discipline: Instill the value of financial discipline, emphasizing the importance of budgeting, saving, and investing wisely.
- Prioritize Capital Preservation: Educate individuals on the significance of protecting their capital, advising them to invest in assets with minimal risk of loss.
Specific Details:
- Encourage children and individuals to network and build relationships from a young age, recognizing the role of connections in career advancement and financial success.
- Teach the principles of budgeting, saving, and investing to cultivate responsible financial habits and decision-making skills.
- Stress the importance of preserving capital by investing in assets with minimal risk and focusing on long-term wealth accumulation.
Step-by-Step Guide
Money and Happiness
So money doesn’t bring you happiness, it’s never made me happy. I don’t measure happy, what do you measure?
Measurement of Success
I measure accomplishments, I measure targets, I measure who I’m helping, things that I can actually physically measure.
Dreaming Big
You know the reality is most of us don’t dream big. You got the mindset, are you looking, are you paying attention? You can do it bro.
Sacrifice for Success
You got to give something up, it’s not you have to add something, you always have to give something up, really. I have, I’ve never been able to go from here to there and not give up something they got me here.
Progress and Sacrifice
If you’re going to go from zero to a millionaire, when you get to a millionaire, if you want to go to the next level, you want to go to 10 million, you will have to give up the million in your life. That’s why I said I got to hold myself accountable to the goal. If I’m not to keep reselling myself on this goal.
Creating Wealth
People want to create wealth for themselves, it’s not just money, it’s.
Wealth Beyond Money
People, not how much money I have. I mean, we all know about the wealthy person that has no friends, he’s on a yacht by himself, and that’s not wealth, right? It’s just a bunch of money and material collections. To me, there’s no way to create real wealth by just going inside, you’ve got to go, I’ve got to add people.
Connecting with Others
How do you get people to know who you are? I say almost yes to almost everything. Why do you say yes to everybody? Because it connects me to another person. I need people to get to know who I am. I’m going to become somebody.
Focus on Action and Contribution
I want to contribute more. I don’t think about wanting to be more happy. I’m not thinking about the joy, I’m not thinking about contentment. I’m thinking about action. I want the action, I want the grind, I want the possibility. I want Legacy. I’m trying to figure out how to extend 100 years.
Priorities: Time, Health, and People
Do I want more happiness? Dude, I want more time is what I want, and I want more health. With time and health bringing more happiness, as long as I have people around me that I want to be around.
Productivity and Financial Responsibility
People that don’t do stuff I don’t like. People that talk about doing something and don’t, I don’t like being around. People that can’t pay bills and can’t throw in and can’t contribute because I know they can.
Financial Strategy and Investment
Most of the people watching right now and everything you have budgeted for in your life, you can pay for. It’s the things you didn’t budget for, the big dream. But everything else you got covered, everything people pay attention to, house note, car note, electric bill, water bill, Basics, everything gets covered. What if you just added a whole bunch of other stuff to the list? What if we were all brought up to say, hey, we’re going to cover all this stuff, people will be even more productive.
Building Wealth
The top three ways, the best way is to multiply money, then get rid of it. You’ve got to get rid of it first, you’ve got to make it, I mean, I’ve got to collect it. I’ve got to collect some, then I’ve got to figure out, okay, this pays for this basic living, everything above that, don’t spend any more money. Like the rest of it, if this is four grand and I make seven, the entire three has got to go into Investments every month, every single month. At some point, you’ve got to quit being a saver, you’ve got to start being an investor.
Financial Education and Mindset Shift
This is what we should have been taught in school, man, this is what we should have been taught as kids, like how do I do money? You do it with time. Okay, you don’t do it with a job. You’re not going to get 823,000 a year at a job. There’s no job that’s going to hire you and pay you 823 without you having to go back to college and spend time and invest money, just doesn’t work like that.
Shifting Mindsets for Financial Success
What do you think people in the middle class are doing that they should shift in their mindset in order to start getting out of that? Well, you don’t borrow money to go to college. Why would you trade five or six or seven years of the income? Time is money.
Financial Strategies for Growth
So I wouldn’t go to college, I would never buy a home, I would never put debt. I don’t know how, if I bought a home, I wouldn’t put debt on it. And these are Nevers for me on the come up. I’m gonna come up, yeah, on the comments once you have the cash, dude, once you’re in, you’re wealthy, and you want to go buy homes and if you would buy yachts and stuff, go do whatever you want to do. But on the come up, you would never spend your income, you would never spend primary income on improving the quality of your life.
Financial Education for Kids
You would only invest, and that’s what I’m trying to teach my kids. Like some friends, I let her pay all the bills. I’ve been doing this since she was probably six. You pay the bill. We don’t give them an allowance. I don’t think any kid should be given an allowance. Interesting, why not? They want money, they become an employee of the company. They work for the company. We give them a series of things to do. We pay them once a year, okay? We give them a big check at the beginning of the year. That money goes into Cardone Capital. Wow. And they live off the distributions. Come on. Sometimes they’ll get a bonus for doing extra stuff, but they don’t get the money. They never get the money. It’s invested and they get that money as invested. They get the distributions. They will create wealth over the next 10 years, but it’ll be their own will. It’s not something I gave.
Essential Money Lessons for Kids
If you could only teach your kids three lessons about money, yeah, what would those lessons be? People, number one, meet people, no one’s a stranger. The money’s a people game. Two, once you get it, don’t lose it. And number three, invest in things where you can never lose your capital.
Overcoming Financial Challenges
Now, the person watching this, she’s a waitress and she’s got two kids at home, she’s like, I’m never gonna make 800. It’s because you already gave up on the idea. Like, you know, you never, you never said that’s the Target and you keep thinking you got to wait tables and you quit already. How many people are in debt in America? Forty percent of people that make a million dollars a year still living paycheck to paycheck. Forty, but that’s not because of inflation, that’s because they spent money they shouldn’t have spent. They thought they were entitled to because they’re millionaires. They live above their means. They live above their Investments, not their means.
Shifting the Money Relationship
How can we shift the relationship to money that we have so we can have a better experience emotionally and spiritually about money? Anything you’re hiding, you’re going to have problems with. The secret keeps you sick. First thing I look at every day is my money. I have a great relationship with my money.
Gratitude and Contribution
Already is impossible from where you came from, and all this from where I came from, I should be dead. I should have been dead at 25 years old, or in jail, messed up forever, you know? Instead, I became this guy, and I’m grateful, and I don’t know that I had any breaks. I know when people say, oh, you had luck, I’m like, you grinded, right? I’ve been grinding, and I’m proud of the grind. But I wanted to turn into something more than money. So I’m going to feel good about a lot of places I go to, a lot of people I meet because I made more contributions than I did, I gave more than I took. Thank you.
