Let’s start with this!
Everybody won’t be able to build a billion dollar business but everybody can invest in one.
Putting our money in the bank, thinking that the bank is the safest place to have our money is wrong. That’s probably the most dangerous place because a dollar that’s not moving is a dollar that is losing.
The three money habits that are keeping people broke are, first of all, not investing at all. Outside of investing in themselves, many people don’t know how to operate money, they don’t know how to spend money, they don’t know how to invest money, they don’t know how to save money, they don’t know how to lend money. Those are the important things. If you have more money under your bed or in your closet than you have in your bank account or in your investment account, you don’t know how to spend money. So, if you don’t invest your money, then you are now saying that the only way that you can grow your money is based on what you can physically do. The right time for money is not an even exchange because you can’t work 24 hours a day but your money can.
The next one is spending money that we don’t have. There are statistics that say most people spend $1.4 for every $1 that they need. So, we are spending more money than we actually have. At that point, you can never catch up. I remember when I used to work, I would get overtime and I would always figure out how much of that overtime was and I would always account for it in my head. Most people do that if they get overtime, they’ve already spent that money before it hits the paycheck. They already know what they are going to spend it on. So, spending money we don’t have, and then most importantly, just buying things we don’t need. Most people don’t have the financial fortitude to be strong enough to say ‘No, I don’t need this’. Most people impulse buy. But after that gratification is gone, after you have released those endorphins, you’re like damn, I really didn’t need that. But it’s too late cause you’ve already bought it.
These are three important things before we even dig deep and just go into other things that are anchoring us like poverty and not being where we want to be and financial abundance; not investing, spending money that you don’t have and not having that financial force and tools to not buy things you don’t need. Do we need every pair of tennis shoes that come out, every pair of J’s that come out. Do we need every bag that we see? I’m not saying that it’s not cool but having that financial fortitude not to spend on those things that you don’t need, that’ll catapult you on a journey because the moment you don’t spend on things you don’t need, now double back to the more things you can invest in.
Everybody doesn’t have to create a business because it is not for everybody. But what we do know is, as our country evolves, so does business. There are some brilliant people that said ‘For that business, there is a problem! For that problem, I have the solution!’
That’s the business you would like to invest in. If we invest in the solutions, we cannot help but win. When we think about revolutionizing the game, evolving, that’s the amazing thing about investing. I’m not advocating for people to invest in these businesses but I am just talking about how the world has evolved. You can build your wealth if you are bold enough to bet on the future.
If you are bold enough to bet on the future and be patient enough to let it take place, you will win and you will win big. That’s without a doubt.
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