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It Took Me 40 Years to Learn What I'll Tell You In 14 Minutes
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And what is wealth? Well, the people
have a lot of money and are very poor.
How many you know somebody has a lot of
money who's poor? Poor psychologically,
emotionally, they don't have great
relationships. They're not close to
their kids. Really, poor is the opposite
of wealth. Wealth, if you want to give
it a definition, is you can extract the
maximum joy out of any experience.
That's wealth.
If you have a ton of money and you don't
experience joy out of, if you can't
extract the joy, you're not wealthy. You
got money.
And most of us know money does not
change your life. People say if you're
not happy with money, you don't know
where to shop. I don't think that's
totally true. That's useful.
But the truth of the matter is I want to
make sure that you start being wealthy
here whether the numbers hit that or
not. And I'm one of you. I I'm one of
you. Meaning some of you starting the
journey may see where I am now and go,
"Oh my god, I remember I was fortunate
enough to get myself in proximity of
some huge players." And I got there
because of my skill set. I was able to
help them with something else in their
life. I changed their relationship or
changed their happiness or their joy or
changed their body or helped them shift
something in their business. And so
early in my life, I got in proximity
with some multi-billionaires. But not
only just multi-billionaires, cuz a lot
of multi-billionaires, as I found when I
did Money Master the Game, don't have
much of a lifestyle. Some of them are
tight as can possibly be. They're not
wealthy. They have lots of money. I know
one in particular who's actually became
a friend of mine in the beginning. be
like he'd be screaming at his wife and
his kid cuz they spent $2,500 a piece of
jewelry and the guy is a multi-billionaire.
multi-billionaire.
It's like he would we flew to India. I
flew to India and in those days I didn't
have my own plane but I chartered cuz
the quality of my life was affected by
it so much and he has a Gulfream and he
chose to go commercial
and I was like what is wrong with you?
And by the way, this person was like 70
years old. So it's not like there's a
lot of time to save up for something,
right? He could spend more money than
you could ever imagine every day and
never go through all his money. But some
people never get beyond scarcity no
matter how much money they have. So I
think it's important that on this first
day, we address the psychological part
just like we do in business, right?
Start out in business. I love to start
out with some of the core strategies
like optimization because you know how
much I love that cuz you can change any
business. How many of you have been to
business mastery, optimized your
business, and grown it significantly?
Make some noise if you're out there, ladies.
ladies.
But none of that works if you don't
change your psychology first, right? Cuz
that is always the barrier. And every
one of us in this room has a financial
set point, a wealth set point. And that
set point is kind of like body weight.
You know, people have their goal and
then they have where they live. And they
might go for their goal for a while, but
they usually adjust to that set point.
And the goal this week might be for you
to expand your set point. Not so you
have more money first. Expanding your
set point on enjoyment because if you
think more money is going to do it, it's
not. How many made a lot more money
today than 10 years ago? And you have a
lot more stress in your life as well.
I'm curious. Let me see. Right. People
think I have more money less stress.
Even stupid things that only we can talk
about here cuz outside this context,
people go, "Oh, first world problems."
And they're right. But if you have
multiple homes, it's another job, right?
You got multiple people and there's
different staffs in different locations
and somebody's got a problem and
somebody's getting sick and somebody's
fighting with somebody else in the
organization. Who knows what I'm talking
about? It's another freaking business
you got to run. Right now, I'm not
complaining in any way, shape, or form.
But it doesn't go away because you have
money. It goes away, meaning scarcity,
because you've made a shift in your
psychology. It goes away when you start
finding wealth in every moment. When you
can find the joy even in the stuff that
used to piss you off or freak you out,
that's when you become really wealthy.
When you're 30 or 35 or 40, you think
you know where you are or you think
you're hit a certain age, but you have
no idea that if most of you in this room
are under How many are under the age of
40, I should say. How many under the
age? Yes. You have no clue. How many are
40 or above? Let's see the room. We kind
of split the room here, right? A little
more. 40 and on are the highest earning
years of your life that will dwarf
everything else if you apply the types
of things we learn to grow your
business. And if you invest, it's
ridiculous the growth you can have. But
you have to be around the right people.
You have to raise your set point if you
want to. By the way, the goal is not to
have the most money. The goal is to have
the most joy with the least amount of
money needed. But whatever is going to
give you the most joy is it. You're not
competing with other people. You're
finding what it is that's going to make
you feel fulfilled. But the bottom line
is during that time, I remember going to
Peter and he invited me at this one
point to go on his yacht. You're going
in the northeast there through all the
islands and these are all people in the
movie business. And I'll never forget at
one point some guys were talking about
Peter and they were saying like he made
$25 million on that picture.
One year. It was really a 5-year
project, but all I heard was one year.
$25 million. And at that point, it was
like the most people made in a film as
an executive director, producer, I
should say. And I remember thinking, I
work 20our days, never less than 18. I
work six, seven days a week. I love what
I do. I'll never make $25 million in a
year. Now I make $20 million while I
sleep every year. Not counting anything
I do actively to give you an idea. I'm
just telling you it seemed impossible.
And I remember feeling like depressed. I
will never be out like this. I'm not one
of them. I'll never be at that level.
And I went into this little thing
because when you compare yourself to
others, you will steal your joy. got it
down because you're never fair in your
comparison. One is I had negated a
notice that Peter was 18 years my
senior. He also picked an industry that
was much more profitable than the one I
was in. I was in a business that had
margins of 8 to 10% like a restaurant.
You make one mistake or you make no
mistakes. The economy changes and you're
upside down. I didn't understand the
importance of margin. I didn't
understand how to maximize a business. I
didn't think my business could ever be
something of size or scope.
But I learned how to make that happen in
my core business before I ran off to 10
other businesses, which many of my
friends did. And my people around me,
it's like, "No, you would not maximize
this business." I said, "Trust me, I'm
doing more than anybody in the face of
the earth in this area." Still, you've
not maximized it. Bottom line is don't
judge yourself by where you are today.
It's an unfair judgment. There's also
other elements like are you happy in
your relationship? Is your body healthy?
You got all the money. You know, most of
you read. How many read Life Force? I'm
curious. If you haven't, I hope you will
and I hope you'll apply it. We'll talk
some of those principles this week on
one morning as well because you know
there I started the book with a quote.
The quote was really simple. A person
who's healthy has a million dreams. A
person who's not has one. Everything
else will go away. So we don't always
compare fairly. I want you to know where
you are is not what matters. I also want
you to know where you want to go is what
matters and that the tools to get there
are here. And in the beginning, some of
you may feel a little overwhelmed
because there may be language or terms
that are used that you're not familiar
with. Even if you're sophisticated
investors, some of these people may use
terms. Some of them are traders and so
forth you not be familiar with. Don't
let it bother you in any way. They're
not smarter than you are. It's like the
medical profession. It's like lawyers.
They have certain words that give them
power. Now, they use words. Now,
everybody uses words. So, these people
have words. When I first learned to fly
a helicopter, I remember it's like
you're trying to listen. the sound so
loud and the the voice of the guy in the
tower is breaking up. I have no idea
what he said. Even if I understood it, I
wouldn't know what he said. But after a
while, you'll learn. Especially after
about 5 days of immersion here, you'll
things will start to make sense. Just
like if I threw you in Italy and didn't
give you any language learning and said,
"I'll pick you up in 90 days." With no
teacher, you'll figure it out because
you're in immersion. And the same thing
happens after a while. You learn there's
only so many patterns, right? There's
only so many things the tower can say.
So even though a little part of it, you
know what it means. You know the rhythm.
And that's what will happen with you
financially over the next decade if you
handle yourself well. And my decade went
from I remember trying to figure out my
financial plan of how do I get $2
million in income while I'm sleeping,
which would have covered my lifestyle
cuz I didn't own a $50 million house and
all that kind of or a BBJ. I was
chartering planes. And so then it's like
it grew from that to 20 million a year
while I'm sleeping and my best years I
made over $100 million to give you an
idea. I've got several years $100
million and I got the next three years
I'll make over $100 million. So there
wasn't a lot of role models like oh
you're in the movie business there's a
dozen or so huge assets people have
built like that area but I so I had to
see I had to find I had to find my way.
But what did it was getting uncomfortable
uncomfortable
but still enjoying my life. You find the
balance I'm talking about here this
week. You're going to get uncomfortable.
We're in really interesting times. Some
of the most challenging times, very
different than anything most of you have
experienced in your lifetime. But
everybody will experience in their
lifetime they live to be at least 80.
There's four seasons. Some people
experience winter when they're a kid.
Some people when they're in the middle
ages, you know, 20s to 40, some 40 to
60, some 60 to 80. But if you live, no
one escapes winter. But winter is well,
if I asked you, wouldn't be the easiest
and fastest time, maybe not easiest,
what's the fastest time to make money?
When can you make the most money in the
shortest period of time? What season?
It's winter. Why?
Why?
Cuz everybody's scared. And when they're
scared, they change what they value
things for. And the way you make money
is not by buying things for what they're
worth. You're going to buy something for
less than it's really worth because of
the psychological change. Or something
maybe that's worth that now today, but
with inflation it's going to grow.
That's the way that's the way you make
money. Or building a business and
growing it and selling it for a
multiple. Those are the only ways you
get wealthy financially. So if you think
about it, this is the best season in the
world if you can keep this and this
straight. If you can find your courage
and your faith and determination and if
you can put together a great plan, which
you've got great, you know,
sophistication, but you don't have great execution.
execution.
And the only thing we're paid for is execution.
execution.
This week, I want you to play like it's
brand new. Even if you've been here, and
there's going to be plenty is brand new,
cuz the world's brand new. But we live
in a culture today where if you're not
careful, you'll be infected by it. Where
you think I remember I had uh Prime
Minister Tony Blair was here one year
for us for this program. Some of you
were at the program and we interviewed
him and we were talking up about Brexit
and you know he said, "You know what's
really funny is people come to me all
the time and I'll tell them my point of
view about Brexit and they go, "You're
totally wrong." They go on and on and on
and he'd say, "Well, I was prime
minister for 8 years. I do have some
understanding." But today people think
if they've read about flying they can
fly any plane. Like if they've
experienced something once and they
understand it they think they know it.
That's not how it works. The greatest
gift I've got from Jim Ran was
repetition. To understand repetition is
the mother of mastery. That's repetition
is the mother of skill. All skill comes
repetition. And so you hear it once you
start to understand it. What we're going
to share this week is not complex. My
job is to make it as simple as I can so
it's less complex for you. But you need
to hear it and hear it and hear it
because each time you hear it with more
emotion, more feeling, you apply another
part and another part. Who's ever gone
to a a movie or read a book you'd read
before and you read it another stage of
life and it was like a totally different
movie or book or I don't remember that
being in the movie, right? It's
because you're growing cuz there's
something new. So every time I make sure
I don't say I know this. When I was
doing Money Master the Game, I'd spent
23 years coaching Paul Tudtor Jones, one
of the 10 most successful financial
traders in the history of the world.
I've coached him every day for 23 years.
He is a genius. He gives me way more
credit than I deserve, but I like it.
But I've also learned so much from him.
So, I knew a lot before I went to go
interview these people. But I was more
than humbled because I went in with a
fresh view that as much as I think I
know about working with the best guys on
earth, there's so many ways to crack
this egg, so to speak. And I learned so
many distinctions. That was 10 years
ago, 2013, when I was in the middle of
writing that book. Where I am now versus
I was then because I've applied these
tools is beyond imagination. I have a
billion dollar net worth in the next 36
months, 5 years. If I don't do anything
that has a blowup, just my normal asset
at their normal growth at about 6 or 7%.
And I never focused on money. It wasn't
my focus. I changed to make sure I
included money as my focus. But I wasn't
somebody saying I'm in, you know, I've
got to do this. And being a billionaire
will not change my life at all, but
it'll be fun. There's only 3,000 of them
in the whole planet. So, it's like
you're a part of a unique club and it's
because I've applied these principles.
So, I am so excited. Your goal may not
to be a billionaire, and it certainly
wasn't mine, but I want you to have the
greatest quality of life possible. But
to do that, we got to take this thing
called money and put it in a context
where it doesn't add stress to your life
and where you feel a sense of skill and
understanding and optimism that even if
all hell breaks loose, things go up and
down. It's not a straight line. If you
think it's a straight line to what you
want to achieve, you've not been in
business. If you go to nature, show me a
straight line in nature. You won't find
it. If you find it, a human built it.
That's not how things grow. How do they
grow? They grow up and they come down a
little bit like a stock, right? But if
it's successful, the overall arc is up.
And over the years, there's a stacking
of those effects. So, what I really want
to get across to you is I don't give a
where you are. Number one, let's
start by being wealthy. Because if you
can extract as much joy as possible out
of every moment from little things, not
just the big things, not the astronaut
who goes to the moon and they walk on
the moon and it's the most unbelievable
experience and they come home and they
have a ticker tape parade in New York
and they shake the president's hand and
then what they thought the way to have
adventures walk on the moon and they did it.
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