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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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