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  • I'm getting ready to go in and do a meeting for my sales team

  • They're on the phone every day. They think I'm going in there talk about sales

  • I'm going in there talk about money because if you don't have your money, right if you're not thinking about money correctly. Guess what?

  • You're never gonna make a sale. You're never gonna push through the objections and the barriers and the hang-ups and

  • Everything that goes on the sales a disappointing job. It's a tough job. It's a crazy job. It's like being an actor

  • Okay, why would anybody be an actor after they go on 100 auditions?

  • Nobody ever picks them and they're like I'm done. The only reason you want to do that is because you want to be a superstar

  • Okay guys, so this is what I want to do. I want to talk to you about money today not sales

  • If you don't get the money, right, you're not gonna make the sale period okay million dollars a million dollars

  • Peter Thiel

  • 2.8 billion dollar Peter Thiel said the single-digit millionaire

  • You know what? That means god with $1,000,000 or 2 or 3 or 4?

  • Cannot even provide his family with proper defense legal defense in America

  • much less much less

  • Emergencies divorces, you know major lawsuits business lawsuits

  • issues happening to kids going to college

  • So what he's saying is this ok, it become a very very controversial article because he's like rich dude

  • Scratching fingers on the chalkboard, this slides. Okay, he's saying hey man, if you got a million dollars, you're basically just a freakin deadbeat

  • And that your daddy didn't tell you that your daddy's like oh man a million dollars a million dollars you and the money

  • So what I want to do is I just want to, I'm gonna show you today how to get through all this rejection and disappointment

  • Discouragements the hangups, you got to change the way you look at money. This is not money right here. Okay

  • This is not money. This is just dumbness

  • This is you not make a decision

  • This is you being lazy saying man a million dollars

  • Then I'd be set just do the math on a million dollars. I did this when I was 34 years old

  • million dollars if you didn't have any more income and you were

  • How old are you?

  • 27 years old and you didn't have any income a million dollars a

  • Million dollars. What does that say right there? Oh no income, zero income

  • You're 27 years old. I'm gonna do this at 47. I'm gonna do it at

  • It's 65

  • Okay, 27 you don't have any more income how long would that money last if four thousand dollars a month

  • You got 25 years

  • Where can you live on four thousand dollars a month by the way four thousand a month assumes

  • No other income social security systems broken Medicare is broken because they are already it's just a matter of when

  • probably gonna happen in most of your lifetimes

  • You'd have to live on four thousand dollars a month for 25 years. You will be 52 years old my friend and dead broke

  • Okay, four grand a month, four grand a mounth is is is what thousand bucks a week

  • You're spending probably $900 a month on groceries

  • 20 what's your rent?

  • 3,000

  • You got like 12 years left and you're a millionaire. Everybody's like, oh my god, the iconic millionaire. You're wealthy

  • You're not wealthy dude, you're worried is what you are. Okay, because you don't have new income

  • So so watch what happens what if what happens if there's an accident a major car accident? Are you married? Okay married kids

  • Okay, the two kids will cost a million five each to get through college

  • So you're busted you understand. So when you come to work in the morning, you're like man

  • I need to make 80 grand this year

  • I need to make eight thousand or ten thousand you guys got to change or think on money

  • Like if you want to make real money

  • if you're 47 years old you have until 62 to live if you're 65 years old by the way, and

  • Anything bad happens like anything you lose a job. You lose your income

  • If there's any inflation this this equation right here doesn't assume any inflation assumes everything stays the same in this rent never goes up

  • It's car payments. No gold. Nothing goes up. It's impossible. It's an impossible cycle

  • the problem is nobody talks about this because nobody wants to go on TV and say hey millionaires are basically

  • middle-class people that are worried about money

  • So when I did the math at 33 years old, I'm like do I need a lot of money?

  • This is where the whole 10x concept comes up from. All right

  • Hey, man, what if what if it took 10 million, by the way, I think that's the number CNBC says it's 5 million

  • I think the numbers really 10 million ok, 10 million with no new income

  • You could probably live

  • The life you wanted to so how would you get that if that's the number cuz this is clearly not the number

  • Everybody agree with that by the way, if you make 40 grand a year for the next 25 years

  • You're gonna make a million dollars anyway. You're gonna make the money if you make

  • $80,000 a year every time you double this you cut the years this takes to twelve and a half years if you make

  • $160,000 a year it takes you six years right or you could just go make a million bucks in a year

  • So you got to do the math if you hadn't done the math if you're going for the wrong target

  • I'm always talking about targets in here. Do you you and the husband you and the wife need to get the target, right?

  • We're talking about. Oh, man. I love this new car

  • You you I'm gonna go buy a new car like Sisler will go by imma get a new car, dude

  • Your attention needs to be on this. This is the target. It's not the watch. It's not the car and it's not the vacation

  • It's freedom

  • 67% of wealthy people's surveyed said they weren't going for wealth for cars and boats and trips

  • they were going for the freedom of

  • Worry to not be concerned about money every day. I want to be concerned about my kids

  • I want to be concerned about you know, what we do when we're when we have time together

  • I want to be concerned about how happy I am in my marriage. I don't want to be worried about

  • Pieces of paper that I don't have enough of or where it's going or what things cost

  • That's why you're making these phone calls. Okay, so now what's the target?

  • Because if you're just in here making phone calls saying hey, I'm gonna make I'm gonna make a call

  • I'm gonna make a close. All you're gonna do is get me rich

  • I'm already rich

  • okay now and I started with zero just so you guys know I didn't have anything so when you're sitting there on the phone thinking

  • How am I gonna get to there you can but you need to stay focused. Okay?

  • So number one thing you got to do is this you've got to change the target and you need to look at the target daily

  • The target you have the wrong target right now, if you're struggling you have the wrong target

  • When you change the target everything changes?

  • Right so that when I'm talking to a guy

  • You're contributing to my 10 million every person I've ever sold

  • I treated like an investor this guy is going to invest in my future. He's gonna pay for my college. He's gonna buy my shoes

  • Every time I'm on the phone

  • Somebody's paying for my shit

  • right, so if I want to go on a trip

  • I want to go on a trip and I want to stay in a house that cost 25 grand a night

  • Other people paid for that that's other people's money

  • So you don't need to wait to be a bank to get other people's money

  • Right, the money that I put in real estate that is other people's money. I'm putting in real estate

  • People I had a guy yesterday say man. How can you put 60 million in a deal dude a mine?

  • Say what do you mean raising on? No, no, dude

  • I went and sold stuff people gave me money and I put it in the real estate

  • Which is part of this equation number one the target number two, you need to get your income to a place

  • This is a fascinating concept right here. Okay, you can do this

  • I guarantee you'll be rich you need to get your income not to what pays your bills but to where you can say 40%

  • of your gross income

  • is saved

  • Okay, you want to talk about something difficult this is way more difficult than that if you can do this

  • You will get that

  • All right, so when you sit down and do the math what would it take for you to say 40% of your income

  • So watch what happens?

  • if you make $10,000 a month and

  • You want to say 40,000 of it you would pay yourself. First. The government doesn't let you do that. They don't trust you

  • They're like no no get that money from him first before he blows it. We know he's going to blow it

  • okay, we know the IRS is gonna take they're gonna withhold probably

  • 44,000 of it. So look if you'll pay the freakin IRS four grand of ten

  • You need to figure out how to pay yourself for gram. What's the problem here? You got a live one two

  • So just keep doing the math. Now. This is the math you need to do with your spouse

  • You need to keep working it out until you're like he's like, let's go buy a new car

  • Yeah, we ain't got any money for a new car. That's why when I was 35 years old

  • No one knew that I was a millionaire

  • Nothing had changed. I was still running with shit shoes, you know buying

  • $40 shoes and and and working a shirt out as long as I could and like

  • Nobody saw I didn't have fancy cars. I'm driving a Camry but a million bucks in the bank

  • Because because I was using this, okay, I paid the IRS. I've always paid those bastards

  • All right, and then what I did was I'm like I'm a bank four grand and then I realized yeah

  • I can't live I can't live on two

  • It's make it's making my life hard to do this this money, by the way, a better a better word for saving is storage

  • I was storing storing money not saving money. I'm storing it. I'm stockpiling if you like that word better. You don't want to save money

  • It's worthless. It's like saving a legal pad a legal pad is only good if you use it

  • Money is only good if you use it, you haven't how many heard this term cash is king. It's worthless cash is worthless

  • It's not a king

  • It's no king, dude

  • Like like cash is not king cash is shit

  • It just sits there and dies

  • Are you losing if you if you leave money in this storage account too long?

  • Guarantee you it will disappear it always has in your life. If you look back over your life the longer this money sits in storage

  • Pablo Escobar will see the drug King. That was his biggest problem

  • mold bugs somebody steal it rats

  • You don't want to you don't want to leave it in storage too long because it's going to zero all cash goes to zero

  • All right. So now now when you do this math you like dude, how much money do I actually need?

  • Let's kick this up to 20 grand at 20 grand what happens?

  • You're saving 8

  • storage you're paying 8 and

  • Now you can live on four. See? Now his is the right way to do a budget

  • You make 30,000

  • twelve is going to storage

  • twelve is going to the I, R and the S and

  • At leaves you at six. So now you can start seeing you got to be somewhere north to 300 grand a year

  • This is what they don't teach you at Harvard

  • you got to be somewhere north to 360 a year before you even have money to live on unless you're just

  • You know your Trek

  • you're just the irresponsible human being that that's

  • You know not putting stored money away for the future

  • Okay. Now you're saving 12 grand a month. That's 144 thousand dollars in one year in 10 years

  • That's 1.4 million dollars in ten years. You're a millionaire stored

  • Okay. So second thing to do you got to you got to you got to keep playing this 40 percent game

  • Todd you need to work with your guys on: "dude, here's your money yet?"

  • Not on what the call is not on what the script is not on what the handle the objection you need all that

  • But do you need the driver here? You guys need to be heavily money motivated from a survival standpoint. Okay number three thing

  • You're gonna do

  • you're gonna go broke right here and

  • invest

  • The storage

  • Storage has to get invested

  • The Golden Goose is only good if she lays eggs

  • Otherwise you can kill her either for chicken

  • Need a a money needs to make babies, right? So your goal right here is to invest

  • to invest the storage money and

  • Continue to do that until this money over here the passive money

  • is

  • equal

  • To

  • Your income

  • Tough game man

  • Right. So what would I do? I'd go out. I'm gonna make 30 grand. I'm going to store 12. I'll pay to IRS

  • I'm gonna live on six

  • In Miami, you're like there's no money left over

  • But there's six grand in storage right now

  • six grand six grand keep pumping the six keep pumping it keep pumping it until you find a place where you're like,

  • I'm gonna invest this money now when you make this move right here do not

  • Invest in anything that is a maybe

  • Okay, you don't want to put your money in anything. That's

  • You can't risk this money Warren Buffett says don't lose money number one number two don't lose money I

  • Would tell you number three don't lose money so what can you invest in you can't leave it in the bank because that's losing money

  • They don't pay you anything takes you eight hundred and thirty three years to double your money at the bank today

  • eight hundred and thirty three years

  • To double your money at today's Bank rates

  • So if you guys don't know this you need to start looking at this and hey at night man

  • What am I doing? My money man confront the beast

  • Right. So right here the the passive income your target right here should be my passive income

  • now exceeds

  • My monthly income you just need to do the math on how much money would I need invest it

  • Right

  • So that this this $12,000 I've been throwing his storage over time Jed where you at aren't you don't you exceed your income right now?

  • JED: Passive income is about eleven grand

  • So his his monthly income exceeds his salary that's what you're looking for right there

  • Not not his whole bonus and everything at the end of the year

  • But his monthly income from the investments now exceeds his income his that made you more or less motivated

  • Extremely Motivated

  • So so he used to be like oh debt man if you got enough debt then you'll be motivated

  • No, you're not. You're gonna be motivated for a little while to pay your car. And then you're gonna be like shit this games

  • No fun, dude

  • It's a terrible game

  • Alright

  • Okay. So look, it's simple target. What's your new target? Freedom? Yeah freedom, but but but let's put my number one

  • Your first target should be ten million dollars and nothing short of that

  • and

  • Everybody in the room can do it, okay

  • I can I can show I can show everybody in the room somebody on this planet that came from your situation

  • That's bank ten million dollars

  • You don't need a degree. Oh, yeah, I can show you for every case bad problem

  • You got I can show you somebody you trade problems. So you'd be like no. No, I'll keep mine. You keep yours

  • Second thing you got to get your income to 40% You got to get your your income to where?

  • You can bank 40% of your income

  • This is the most difficult part of this in the beginning

  • Because you're starving here

  • Until you confront the real problem. The real problem is income

  • Third thing is this money. You need to stay broke with this money

  • You need to get this money in a sacred account somewhere where no one is going to Jack with this money

  • I remember my mom called me once you suck. I got this thing going on on my Campion. I