Grow Your Wealth Exponentially By Expanding Your Mind

https://www.youtube.com/watch?v=EA0hbw7TdxA When it comes to growing your wealth significantly you need to change as a person in order to do that. You need new ideas, new belief systems and new ways of doing things if you want to move from middle class to truely wealthy. 0:00 - Introduction 0:55 - Rich people see the world in a different way 2:00 - 10 Years ago I changed my mindset and it led to me achieving financial freedom at 28 4:17 - Moving from middle class to becoming rich 6:17 - You need to inject new ideas into your life 8:09 - How to challenge yourself with new beliefs 11:50 - Learning to earn mid-high 6 figures Recommended Videos: It's Ok To Make Financial Mistakes Transcription: Ryan 0:00comes to growing your wealth significantly. You need to change as a person in order to do that there is wealth creation and growing your wealth really slowly and incrementally just by doing the basics, which is spending less than you earn, saving what you can and then investing and obviously that can build and compound over time. But if you look at the most successful and richest people, did they get rich by doing that by just working an average job saving a little bit each and every month? And then going ahead and investing that and growing it? The answer to that question is generally speaking, no, is that the most wealthy people are doing something completely different to us and looking at things in a completely different way to us. I'm currently reading the book fake by Robert Kiyosaki. And in that book, he talks about how he'll go to seminars and talk about the way he invest in real estate with no money down or the types of deals that he does. And he says, inevitably, people always say to me, you can't do that here, or I can't do that here, for whatever reason. And then he answers back to them that they may not be able to do it here. But he can. So Robert Kiyosaki sees the world in a different way, and is just way more expansive around money than a lot of us more experienced, and can do deals that makes him millions of dollars, without costing him millions in a way that I couldn't even fathom at this point in time. So there's multiple ways to get wealthy. Obviously, there's the basics of less than less than we earn, let's pay off our debt, let's accumulate assets. But then there's this next layer on top of that is, actually let's jump from poor, to middle class to wealthy. And to jump from I think middle class to wealthy just requires a massive change in mindset, and massive change in the way that you see money. I remember 10 years ago, I spent probably one or two months reading through almost every single Robert Kiyosaki book, just because I wanted to change the way that I saw money, and changed the way that I looked at things. And so I read and consumed these books every day for a couple of months, and just started to rewire my brain, looking at money, and looking at generating passive income, and focusing on that over building assets or the other things that people were focusing on, especially in the property investing space, at that point in time. And I just remember going through a massive transformation 10 years ago, when I was reading these books, and the way that I saw the world, and the way that I saw money changed dramatically. And then what happened over the next seven or eight years, is that I worked in a job at one point, but I built up a business on the side that generated me passive income, I saw an opportunity where if I created websites and wrote articles that they could rank, and they could get traffic and make money for years. So I've got a website that I made probably seven or eight years ago, that I haven't touched in seven or eight years, that makes me $100 per month. And it's passive, it's worth that I did all those years ago, that is now making me passive income. And so because of that change in mindset and change of what I was focusing on, it changed the work that I did, and then change the outcome to get me to the point where I was financially free at 28. And had a couple of years where my business there was earning enough money that I didn't really need to work. And now I no longer in that position with online space, things change, business went backwards. So I've got to work in order to grow my income. Again, I serve a lot of passive income coming in, but not enough to fund my lifestyle. And I've now got some debt that I need to pay off as well. So, but that changed 10 years ago, had a massive impact on a decade of my life, and got me to a point at 28 that most people don't reach until they're 65 or 67. And so it was really cool to see where I got to and the type of business I created because I got my mindset right in the beginning. And because I decided to expand my mindset. So what I'm going to do now is a segment that I'm going to call money study, where we're going to look at probably once a week, different ideas around money, different things that will change our minds, because I'm at this point now, where I've reached an area where you know, I'm solid, middle class, decent income earner, and I can do that through my business, I'm currently looking at getting a full time job as well to pay to earn extra money so I can pay off my debt faster. So I have passive income coming in from the business plus our income from the job. Obviously, those combined will be a higher income than if I just run the business. And so those combined will allow me to pay off debt, but I'm currently in the middle And what I want to do with my life is kind of step out of this low six figure range, and kind of really grow my wealth to the other six figures or even seven figures over the next decade of my life. And I think the way that I look at the world, the way that I look at work, the way that I look at money, the way that I look at business, is not going to get me there. And so I say this to people all the time is, is what got you here. And the strategies you use to get you here won't get you there. And so you're going to have to let go of a lot of things. And I'm going to have to let go of a lot of ideas around business around money, and all of that sort of stuff to get where I need to go. There's basic financial fundamentals that I need to get right that I'm working on, which is spend less than you earn, don't get into bad debt, right, and pay off that bad debt, start to build your assets. And I'm going to be doing all that stuff as well. So there's those sound financial principles which will apply, across, you know, all different wealth categories, whether you're poor, whether you're middle class, whether you're wealthy, but there's just little changes in the way that you seen money and see the world. And so what I want to do is inject new ideas into my life, but then I want to go ahead and share those ideas with you. And these ideas are things that go against your belief system, and go against the cause of what you believe about money. Even I was, you know, listening to some Robert Kiyosaki stuff. And his wife, Kim said this thing, which I think was originally said by john D. Rockefeller, who was a billionaire, back in the day in the early 1900s, I think. And it's the poor and middle class on everything, and control nothing, and the rich, own nothing and control everything. And just that idea, and I'll probably create another video talking about, but the idea that the rich actually own nothing, but control, everything is insane. Because as middle class, you're I want to own my own home, I want to own investment properties, I want to pay them off outright, and have that basic, basic financial freedom and basic level of support. And then when it comes to the rich is that well, the rich own nothing. And how do they do that? Well, obviously through the different ways that they craft their assets, they have asset protection in place, they use debt as a form of asset protection. So the banks might own the property, and they had debt on it. But they control the property, they get the cash flow benefits from the property without actually technically owning it. They do joint venture deals, all this sort of stuff. So even that one idea that the rich don't own, things like that, they own nothing, because that means they're not liable. But they control everything, and they get the benefits of that. So even that idea is just incredible. And so we'll talk more about different ideas. And I think a lot of this is going to challenge what I believe a lot of this is going to challenge what you believe, and go against things that you've learned and things that have served you up until this point. And so what I like to do, when I am challenging myself with brand new beliefs is I like to take it back to first principles. And this is something I learned from listening to Ilan Musk, who runs Tesla and SpaceX. And first principles is the idea that rather than taking the general consensus, rather than taking what is assumed to be true, or rather than even taking what's been done in the past, take it all the way back to first principles and work it out from there. So in regards to building a space rocket, extremely expensive to build a space rocket, insanely expensive. What Elan musk did was instead of saying, Okay, what has NASA done? What has Russia done in terms of building space rockets? And how can I kind of tweak and improve upon that, he actually goes all the way back to the start and say, Okay, what materials are required for a space rocket? And then he looks at, okay, what is the cost of those raw materials? And then work from there to say, what's the cost of those raw materials? And then how can we now design a spacecraft that it is going to be way more cheaper than what is currently being built? Or how can we not even what's cheaper than being is currently being built?