https://www.youtube.com/watch?v=a0hUVFYzv3k

1 00:00:00.000 --\> 00:01:00.000 moza nation i wanted to give you an
inside look at one of our internal company trainings where we talked
about personal finance and so i was asked by a lot of people on my in my
company uh to do a training on this for them internally and we got a lot
of good feedback from it and so i thought i would share it with you guys
i got to sign off for from my team and this is going to basically
explain to you how you can be in the top one percent without having
extraordinary means of income and if you do have extraordinary income
then you should definitely be there without making stupid decisions all
right and so uh in the video i'm gonna be covering uh different
different things for savings different things for investing different
ways to structure things um and all that kind of awesome stuff so uh if
you guys don't know who i am my name is auction mostly we own
acquisition.com it's an 85 million per year portfolio i have absolutely
nothing to sell you there's a lot of broke people out there and i don't
want you to be one of them welcome to mozu nation i'll see you guys in
the vid quick word from our sponsors before we get going there's this
lovely book this is the this is the the the actual manuscript of uh 100

2 00:01:00.000 --\> 00:02:00.000 million offers uh thanks to most of you
guys on this call it's the number one new release in advertising so
thank you um when you get to the about halfway point of the book there's
one page that reminds you to uh leave a review and if you could do that
it would be very helpful because uh the more people read the book the
more businesses find out about us the more business to find out about us
more sales we make the more sales we make the more secure everyone is
and the more jobs we can we can have and the more clients we can help
through our uh our businesses by extension and so the more we can change
the world so um your book review may indeed change the world uh and so
uh that is how meaningful it is so please um go ahead and uh and and
grow the book it is 99 cents um if uh if if that's too steep for you um
then don't get the book so uh without further ado today what i want to
talk about is personal finance um and rather do a slide presentation um
sometimes i want to mix mix it up um i have a bunch of bullets uh and i
think it went

3 00:02:00.000 --\> 00:03:00.000 really well with the gym ward so i
wanted to kind of do the same thing and uh lately and i talked about
who's gonna talk about what uh because we both are involved in our
finances uh that's not always the way you know in a lot of marriages you
know one person manages money one person does other things but as as
resident cheapskate um of our marriage it uh it made sense to have
personal finance full to me and so uh i will kick this off kick this
puppy off with some stats and a quote so quote number one the first 100
000 is a but you got to do it i don't care what you have to do if it
means walking everywhere not eating anything that wasn't purchased for
the coupon find a way to get your hands on a hundred thousand dollars
after that you can ease off the gas a little charlie munger vice
chairman berkshire hathaway some of you guys may know this but uh
charlie munger is my probably my number one resource for all things
wisdom and bunny and uh i actually think he might even be a better
teacher than warren buffett i think warren buffett just picked a couple
of stocks that ended up outperforming charles and charlie has not had
any like massive

4 00:03:00.000 --\> 00:04:00.000 home runs he's just been a consistent
investor for a long period of time um and a general assault of the earth
individual who is full of wisdom and so if you are looking for wisdom
when it comes to money i would i would recommend anything that is
written by him or any talks that he gives what i want to transition to
is um the reason behind this this kind of you know leadership meeting a
lot of times we talk about management and uh you know leadership in
general and character traits and things like that my goal in general as
my life has progressed is to make as many people wealthy and independent
as humanly possible and so each of the businesses that we've had have
have done that and there's different people who become you know uh
wealthy you know through jim lords it's obviously our our clients but i
think as as i've gotten older my care has actually shifted towards uh
you guys are employees of the company and making sure that everyone here
um becomes independently wealthy and so what i want to do is lay out a
plan that literally everyone in this call can become independently
wealthy if you follow it is that cool with everyone is that all right
let's do it

5 00:04:00.000 --\> 00:05:00.000 yes absolutely like as a belief breaker
which is just like everyone in any position in a company right everyone
has their compensation levels that they're compensated at i think
something that um is really interesting is that what i've noticed over
the years is that it's often not correlated with how much money you make
let's correlate with everything alex is going to talk about which is how
much money you don't spend and so i've had personal conversations with a
lot of you who you know maybe you're in the middle tier in terms of
compensation you have more saved and more in your bank account less debt
than those who make more money in the company and so i just want to put
that out there is that it's often you know getting rid of the downside
rather than increasing the upside another quote for you you cannot
outwork money and so ideally you would like money working for you a
horrifying stat is that the average american negative net worth
literally if they were born if you're born a baby and you have zero net
worth you're already in the top you're already above average because
you've got zero think about how wild that is that's insane and that is
because people make poor choices not because of

6 00:05:00.000 --\> 00:06:00.000 anything else and so i want to be very
clear about my my view on this and it's one of victor rather than
victimhood we all make choices and independent of what we make wealth is
a ratio of what we spend versus what we earn therefore if you earn
anything you can become wealthy by controlling what you spend so that's
stat number one step number two the average u.s minimum wage worker will
accrue over a million dollars in earnings over their career if they
lived and worked a minimum wage the entire time and never got a pay
raise which barely even makes sense because with with every you know
every four years minimum wage goes up anyways right so think about that
for a moment that means a million dollars is going to flow through the
hands of basically any worker who works full-time throughout their
career in the u.s all right next one the median u.s income earner will
make over three million dollars they will earn that over their lifespan
pretty wild right what if we controlled the flow and we

7 00:06:00.000 --\> 00:07:00.000 actually made good decisions about that
lots of cool things and i will show you that in a moment and i want to
reiterate one more point and if you want to dot it underline it
highlight it wealth is a ratio not a number between what you earn and
what you spend right now there is something that is in your life if you
do not have the amount of money you wish or you're not saving or
investing at the amount that you want that is eating away at it it is
your number one nemesis for some people it's sneakers for some people
it's eating out for other people it's clothing and so the question i
have for you guys is first off in the chat if you guys will be open and
honest with me what is your vice what is the thing that eats into your
accounts what is that thing that you love spending on and you feel
guilty but you get that dopamine rush every time you buy it what is that
please put in the chat the more honest we can be the better it'll be for
everyone high heels me too i'm with you on that one right skincare
eating out kid stuff food food and beer okay cool fantastic this

8 00:07:00.000 --\> 00:08:00.000 is good nicotine coffee got to be
spending a lot of money on coffee alcohol a lot of people drinking going
to the bars going to the club right there's a lot of things and so the
next question is um and this is kind of why this is a behavioral
question because becoming independently wealthy is not complex it's
simple not easy and so my question for everyone on this call is are you
willing to give up your vice to be a millionaire the genuine question
i'll tell you a brief story um and then i'll get into some of the more
tactical stuff and i want to make an example because there are some
limiting beliefs around this that i think need to be debunked wealth is
accrued through character traits when i uh a lot of you guys may have
heard of the story of when i was sleeping on my gym floor has anyone
heard that story the guy sleeping on the floor didn't have enough money
right what you don't know is that i was making five thousand dollars my
second month in

9 00:08:00.000 --\> 00:09:00.000 business in profit the third month i
made ten thousand dollars the fourth month i made third month i made
fifteen thousand dollars the next i made 20 the next i made 25 the next
one made 30 the next made 35 and that was in profit and i was sleeping
on the floor and that was because for me i get tremendous amount of
anxiety if i spend any amount of the income that i earn that is not
negligible and so i wanted to take as much of that money that was coming
in and adding it to my bank account and so for me and for everyone here
if you can gamify that one simple number which is what is in your bank
account you will win the game and so many of you are not in complete
control of your finance because you also have a spouse and so we will
we'll distribute this to you guys so if you want to play this with your
spouse because maybe by the end of this call you decide to make some
decisions i'd like to get them brought in as well because you have to do
it together right not one of you can do this you both have to do this
together if you are married but if you do commit

10 00:09:00.000 --\> 00:10:00.000 to this and you can play a game which
is the game is how little can we spend and see if you can beat your last
month's total every month see what else you can trim see what else you
can not spend money on because it becomes fun and interesting and as
soon as you can make not spending money fun i promise you you will have
more money than you ever need you'll be able to eliminate the stress in
your life around money and i mean this so sincerely from the bottom of
my heart everyone here in this company can become independently wealthy
can become the top one in america simply by the habits that you choose
to make today like i i'm serious as cancer right now and i wish i could
tell better stories that i knew how to break the blues and we can do
this um and i'll try and address them at the end because some of you
will have limiting beliefs around this but if you make the steps that
i'll walk through today um they will they will benefit you and there's
only six steps that i'll walk through they're very simple and they're
very straightforward okay now next next little stop on our adventure
okay is let me show you the eighth wonder of the world does anyone know
what the eighth wonder of the world is so let's say marcos how old

11 00:10:00.000 --\> 00:11:00.000 are you you can unmute if you want to
just tell me he said fantastic want to see some crazy marcos because i'm
about to show you let's say you have zero dollars saved up okay i don't
know what you got saved up but let's say you've got zero dollars saved
up are you curious by any chance how much if you saved 100 a month you
would have by the end this is not the actual amount are you curious do
you want to know how much you'd have if you saved up 100 a month and you
just put it in the s p between now and when you're 75 yes you're curious
you want to see very 2.7 million dollars pretty interesting right yes
very i would agree with you so check this out let's make this zero this
is something that i have saved on my phone this calculator i have saved
on my phone and so right now let's say that you're looking at making uh
a jordan's purchase right you see the new jordans and you're like man
them shits are sexy so you take your hundred dollars and you

12 00:11:00.000 --\> 00:12:00.000 think well i could either have these
jordans or when i retire i could have twenty two thousand dollars which
would you prefer the 22 grand i i agree with you i would as well i made
similar decisions throughout my life now if you looked at going out to
dinner for example or going out to lunch and maybe just going out to
lunch three days a week right it's an extra let's say 12 bucks a day
right three times a week so it's 36 bucks times four so you're looking
at like 130 140 bucks just by not eating out 31 000 damn and that's just
one month now if you did that for a year you'd have 400 000 wow i agree
with you but no one does the math that's crazy i've never thought about
it that way that is the purpose of this call thank you marcos yeah thank
you

13 00:12:00.000 --\> 00:13:00.000 you bet and so one of the number one
things that happens and one of the limiting beliefs that people have is
that the amount that i can save right now is not enough it's not enough
to make a dent it's not enough to do damage now some of you on this call
might not be 19 years old and have you know 60 years of compound behind
you right so let's look at let's look at what probably the median age in
this company is which is 35 years old okay and so let's be a little bit
more uh aggressive here let's say again you start at zero but you decide
to start saving 500 a month i know that's aggressive but let's just say
if you did you'd be able to retire with three million dollars it's 100
bucks a week the thing is is that just about everyone here if you make
different choices about how you live what you spend your money on you
would be able to have this outcome and i mean generally from like the
bottom of my heart it's just like fitness right you have to you have to
burn more than you than you eat this is simple eat less than you burn or
yes exactly thank you saving money and personal finance are simple
except the thing with weight loss is you don't have any compounding
thing that's working with you right with money your money

14 00:13:00.000 --\> 00:14:00.000 works for you right while you sleep
and so that's the magic of this and here's what's cool marcos i will
show you something interesting they may be like how is that even
possible how can i say 500 a month from now being 35 until 75 well you
only contributed 240 000 here i mean that's a lot but this is how much
your money worked for you which is why you can't not work money you have
to let money work for you and so the number one thing that will create
wealth for everybody here is your income that is the thing that will
create that that is the flow right obviously throughout the company you
can look at different opportunities to make more money to to you know to
get promoted to to add more value to the company and things like that so
you can increase your inflow but for just about everyone here and what's
kind of funny is that i have had many conversations with people and i
want to be really transparent here there are people who make the most in
this company are among the most i would say the top 10 earners in this
company who i've had conversations with who have zero dollars saved up

15 00:14:00.000 --\> 00:15:00.000 i've also had conversations with
people with the top 10 percent earners company who have negative net
worth i've also had conversations with people who are in the bottom 20
in this company they don't have higher net worth than the people in the
top percent 10 and so to me that shows that it's choice it's just a
choice and i can tell you as somebody who's made this phenomenal amount
of money throughout my life my level of well-being has been no way
affected by anything that i've spent money on material goods do not
increase my acceptance of subjective well-being and so if you're if your
goal is to seek to decrease the anxiety that you have in your life
because of finances then the easiest way to do that is to spend less
money because you have lower risk consider your fixed expenses and your
lifestyle your risk basis this is your risk that you have as an
individual and so if you can make yourself an investment that has very
low risk and very high return you will reap the benefits over a long
period of time and so this again is assuming you save a month that's it
now let's just get wild and let's say

16 00:15:00.000 --\> 00:16:00.000 you go all in on this and you just you
just go nuts and i'm going to give you some of the habits and all that
kind of stuff in a second but i just want to paint the picture first so
let's say you did the same exact thing but you were like you know what
i'm totally changing my lifestyle i'm downgrading where i live i'm
selling the lease on my car and i'm buying a car and five thousand
dollars in cash that i have no payments let's see where this takes us
2500 bucks a month it's 14 million dollars just in case you're curious
that's not the top one percent that's the that's the top point four
percent of the united states and you just get there through making smart
choices and this again is assuming you have zero dollars saved up so
this is for you marcos let's say you save twenty five thousand dollars
by the end of this year because you do a great job and you live like a
cheap ass all right and you put no more money in for the rest of life
all right and you start because you're 19 years old that's how much
money you can have 5.5

17 00:16:00.000 --\> 00:17:00.000 million dollars if you just save 25
000 today and put it in the s p and never think about it again marcos
you could be hood rich right and so one of the things does anyone here
know what the number one drain on net worth is besides taxes 35 of every
single american's paycheck goes to this one thing yes laura larose
interest 35 so for context imagine right imagine where you had a
franchise right and so i i own i'm the franchise pro subway i have i
license out my business model too 10 000 restaurants subway gets 10 and
they kill their franchisees because there's no margin in food do you
know who's killing them three and a half times more the banks 35 of the
average american paycheck goes to

18 00:17:00.000 --\> 00:18:00.000 interest that's it and so right now
what i just showed you was 500 a month so can everybody here just for
just for shits and giggles multiply what you take home by 0.35 put that
in that calculator i'll wait for you guys to do it multiply what you
make by .35 and put that in as your monthly contribution you can start
with zero dollars you put 75 as your retirement age the reason you do
that is because we're all going to live a lot longer than our ancestors
did so why you guys are doing that and getting that calculation and the
reason i'm asking you to do this because i want you i want to show you
that it's worth it to make these decisions and so the reason 35 percent
is that for example let's say you buy a house right you've lit you
you're realizing the american dream which is hilarious because you
didn't actually buy a house you got a loan because the banks have
zillions of dollars of advertising to make you to fool you into
believing that

19 00:18:00.000 --\> 00:19:00.000 is now the american dream is that you
owe them money that's the american dream is that you owe someone else
money and that 35 of your paycheck goes to them for the rest of your
life you could also get into student debt which i abhor and heat to like
every ounce of my being but i won't even get into that so let's just
talk mortgages if you do buy a house and you're the average american and
you move in three years which is what the average american does they
move every three years do you have any idea what percentage of all those
quote mortgage payments that you're making are going towards principal
which means the actual amount of the house dominic correct you have a
30-year mortgage your first three years you're paying jack towards your
principal which means you just leased it from the bank and then they get
somebody else in and then they and they and 97 of the dollars that go in
there go to them and the bank holds the note on everything to the same
degree if you buy a car and you can't buy it in cash the same interest
applies except it's even higher isn't that wild isn't that nuts what's
what's more is that for those of you who have uh student loans think of
how crazy this is

20 00:19:00.000 --\> 00:20:00.000 they lobbied to get the government to
back student loans which means they gave 18 year olds so everybody who's
on the sales team understands this but if we try and give a business
owner get a business financed right in real terms of the likelihood that
they pay back the debt for even fifteen thousand dollars right the
approval rates like one out of three for 15 grand and yet because the
government allows this they allow banks to give a loan for 200 000 to an
18 year old with zero earning potential and they say that they can never
get out of it which means that that percentage of your paycheck what
they did just like that subway that road say off the top they're getting
a royalty on your life 35 of everything you make forever and they allow
people who aren't even old enough to drink put themselves in enough debt
they can never get out of now i believe in

21 00:20:00.000 --\> 00:21:00.000 personal accountability you should be
responsible for your decisions but i don't think you should be
subsidized back by the government the purpose of today is hopefully to
shock you a little bit into how much many people on this call are being
robbed by decisions and the invisible hand that is taking money from
your pocket every single month and so if you guys will let me i would
like to walk you through six steps to get out of this mess is that okay
with you guys so you saw the sunny side which marco's got to see you can
be worth six million dollars if he just saves 25 grand this year and
doesn't do anything else on the flip side for everyone else right not
just marcos hopefully marcus you don't have a mortgage and student loans
and all the other things right hopefully for everyone else you can see
what has been robbing you and your ability to create generational wealth
is this one thing and so my goal is to get us to get this this this
monkey off our backs and so one more one more stat that i will that i'll
push towards you is that does anyone hear anyone willing to be honest
that is anyone here have credit card debt does anyone have credit card
debt okay so who here know has hurt

22 00:21:00.000 --\> 00:22:00.000 you know like compounding is the
eighth wonder of the world which is what marcos's eyes popped out of his
head when he saw the noun right eighth wonder of the world is
compounding you can also have negative compounding interest which
compounds against you and so you have the eighth wonder of the world
beating you up every single day rather than lifting you up so that you
can become financially afraid that is the eighth wonder of the world
working against you because it's compounding and for many of you you
know credit card debt 10 12 16 per year if you could get it if you could
get a an investment that'd be 16 a year you'd be stoked and that's what
exactly what every single bank did in the world is they make you the
investment that they get 16 percent compounding in we cool is everyone
like do i have everyone's complete attention what i want to hit on are
the the six the six pieces here all right number one is that you have to
start saving money and you do that before you start paying debt off all
right you're like how much do i save

23 00:22:00.000 --\> 00:23:00.000 what you save is something called an
emergency fund and the reason you start there rather than paying off
your debt is because something will come up and if you learn the habit
of stopping to pay off your debt you'll stop paying it off it's like
going on vacation and so think of this as the vacation fund for your
financial fitness is that we need to plan for the vacation that's going
to come so that we don't get off base for most people that emergency
fund is between one thousand and five thousand dollars i will let you
decide on on what that is based on your income but what that is is when
your carburetor and your car goes up or when you break your foot and you
have a service it's the stuff that is quote unexpected but 100
predictable that it's going to happen at some point in your life and so
the idea plan for the thing that you know will happen you just don't
know when the only variable is when not if and so has anyone here i'll
ask this question to prove the point can i just get hands you can see it
on the screen has anyone here in your life had an unexpected bill come
up so then can we call them unexpected let's call them expected bills
and just

24 00:23:00.000 --\> 00:24:00.000 plan ahead all right so the first
thing that we do so if you're writing this down the first thing you do
is you save between one and five thousand dollars i will let you make
that decision you are grown-ups that means that even if you have your
credit card debt even if you have other things that are stupid that's
fine for right now the first step is to save one to five thousand
dollars step one step two you pay off all your debts minus your mortgage
so if you have a mortgage don't worry about the mortgage for now we'll
get to that in a second except for the mortgage you pay off all your and
it is my my two cents that it's better to pay off the smallest debts
you've got even if you've got one that's let's say 20 and you've got
another one that's 10 and the 10 one is smaller despite it
mathematically making more sense to pay off the higher debt one no one
here has made any national decisions up to this point so why would we
make them now the point is that we need to get the emotional victory we
need to lose some weight we need to tighten our belt all right and you
need the first win so that you can

25 00:24:00.000 --\> 00:25:00.000 see that you can do this and so you
pay off the smallest debt first and then you pay off the second smallest
debt and you'll feel is momentum and you'll see that you can do it and
so what my earnest ask is that if you can team up with your spouse on
this and you show them how much money you could be making with just what
you're paying in debt right now 35 of your paycheck and how it can be
create independent wealth for you and your family for the long run just
by doing this then hopefully it will make it worth it more than getting
a dessert at chili's although i do love desserts at chili's i think
they're fantastic do it when you can afford it and you can pay for it in
cash and still hit your bunch to show you to the extent how much layla
and i believe in this we bought our home in cash we bought our cars in
cash everything we pay for in cash we have zero debt total zero and what
i can tell you is it feels good knowing that no one can take your away
from me because for those of you who like to be more sophisticated and
read up on articles on crypto and robin hood let me tell you an
interesting concept that i learned from somebody who's much wealthier
than me they said

26 00:25:00.000 --\> 00:26:00.000 debt increased risk risk if expanded
over a long enough time horizon will eat away the returns that the
additional leverage gain because anything any number no matter how big
multiplied by zero is still zero so it doesn't matter how good you are
and how much you saved if you take on too much risk which is what debt
is over a long enough time horizon it will multiply you by zero which
some of us are old enough marcos you're not but some of us are old
enough to remember the 2008 2009 collapse i will tell you that just
about every entrepreneur friend that i know lost everything they start
back at zero and marcos you saw that you're at 19 and if you didn't up
if you don't up between now and when you're 75 which means you don't
take on debt and you just you need to pay for things in cash and you
budget how much you make right and you spend less than what you earn
you'll be able to be financially wealthy for this your life you'll also
never have to worry about money ever and the only reason people don't do
this is because they think that status

27 00:26:00.000 --\> 00:27:00.000 and how good they feel about
themselves live in the eyes of others rather than their own eyes would
you rather be rich or have everyone think you're rich it's a real
question and most people answer by their actions which one they'd rather
actually want which is why finance and personal finances is much more a
question of character than it is about intelligence is anything here
complex that i've shown you a earth arithmetically save more than you
earn right spend less than you earn do it for a long period of time
don't buy you can't afford and no money to do it i told you step one
save one to five thousand dollars step two pay off your debts smallest
to largest not in terms of interest do it in terms of smallest to
largest for many of you that may take one year two years or three years
and i know that this is the that's the rocky cut scene that's the part
of the movie that everyone fast forwards through but i can tell you that
the amount of spiritual growth that happens when you consistently

28 00:27:00.000 --\> 00:28:00.000 live disciplined will change who you
are and how much control you perceive that you have over your life and
you may lament the fact that you have student loans you may limit the
fact that you got into a 30-year mortgage we'll talk about in a second
but those things are done there's nothing you can do about this all we
can do is the choices that we have in front of us and so the question is
are we going to let the decision that we made years ago rob us of the
future that we can have if we choose to have it one save one to five
dollars two pay off all debt that is not not your mortgage in terms of
smallest to largest you paid off just you know as soon as layla and i
started making money we paid off her student debt right like we live by
this this is i believe this falls to bones through and through all right
third step in your in your piece of in your inner financial freedom is
actually expanding your emergency fund those savings you don't invest
those those are just so that you can live as a human being and feel safe
some of you will have larger need for

29 00:28:00.000 --\> 00:29:00.000 security other of you will have
smaller needs for security and so the range for this is three to six
months of living expenses now the fact that you've done this after you
paid off your debt aggressively you will already have the character
traits in the discipline to know how to live on less which means you're
very able to one you won't even have to save that much because you
already have been living on so little so three months might not even
take you level and you would be amazed at how much more money you have
when you have no debt that goes out every single month paying the banks
you will be blown away so right now for shits and giggles because that's
why we do this right chasing giggles nothing here is serious as cancer
right except for you know your future and everything else shits who here
has a car payment you get a hand you have a car payment okay who here
leases where they live or has a mortgage now if you were to add that
amount of money up remember that calculator i want you to put that in
the calculator again

30 00:29:00.000 --\> 00:30:00.000 i know i'm asking you to do some more
i think it's worth it can someone throw some numbers of what that would
equate to 2.1 million dollars there it is and just so you know no one
can guess what your car payment and your house payments are based on
this number so don't worry about it six million dollars 3.2 million
dollars 5.6 million dollars 3.8 million dollars so 2 million dollars 15
million 1.5 million dollars 2.8 million how nuts is this this is the
they don't tell you this is how everyone at the top makes all the money
they loan people who can't afford things things they can't afford and
they saddle them with that that's compounding against them for the rest
of their lives that's the secret so if you don't want that working
against you these are the hard decisions right now if you can have the
hard hard conversation with your spouse and think to yourself is there a
way because now at this point in the in this process you can try and pay
off where you live so that that money that you're currently outflowing
becomes your retirement fund you could literally do nothing else you
could just do that

31 00:30:00.000 --\> 00:31:00.000 and and own the car you have in cash
and just so you know as somebody who's had supercars and had a prius
that was worth five thousand dollars it gets me from point a to point b
in the exact same amount of time it was also the biggest regret of my
life is buying the the belly that we had number one financial regret i
have i get zero enjoyment out i miss our little broken prius that a
dense a dent on the side door and had a crack through the windshield and
for context just so you guys know that i'm drinking my own kool-aid when
we owned that car as the only car that layla and i split we were
millionaires and i had a lady who was in our mastermind named monica
patar who saw us pull up to our mastermind in the prius with a cracked
windshield and the dents in the door and she said i thought you guys
were supposed to be rich as she walked into the mastermind which you as
of course a guru are horrified by this kind by this idea and i said i am
i said you should look at my bank account and so that's the kind of
thing that just like it just gives you what kind of confidence do you
want do you want someone to say nice car or do you want to bait let's
say you should look at my bank account there's a kind of stress-free
living there's a kind of

32 00:31:00.000 --\> 00:32:00.000 confidence that comes from this
there's a kind of you money energy that's hard to fake and i would like
that for everybody here on this call and it is 100 attainable for
everyone here just making the right choices so the number one the
easiest thing you can do is if you have a lease you can turn it in early
and you can buy a car for five thousand dollars in cash you could save
up for it okay but once you do that remember that hundred dollars a
month that two hundred dollars a month that's some of you guys are
paying as soon as you save up you that one time that two dollars a month
becomes a constant flow that for the rest of your life is adding towards
your net worth and then you can choose to downgrade and not live in the
really ritzy fancy neighborhood that you live in now that might be above
your means or rather is above your means because you can't buy the house
in cash and you're just loaning it from the bank right and this is stuff
that no one says it everybody wants to you know impress their parents to
show them what neighborhood they live in rather than impressing
themselves and giving themselves a stress-free life again for context
when i did decide to lease my first spot where i decided to live if you
guys are curious i split a

33 00:32:00.000 --\> 00:33:00.000 bedroom in a house bedrooms i split
one bedroom with one another guy i paid four hundred dollars a month in
rent and this is in southern california for anyone who has contacts 400
a month gets you nothing i split a bedroom in a house and again i was
making twenty thousand a month and i'm not saying i'm saying this
because i believe in this so thoroughly and very luckily on my part i
was i was raised by a father who came to the united states with nothing
he was an immigrant he had one thousand dollars that he was able to take
with it and so we'd split the paper towels in half right because we
didn't want to you know waste them we never use napkins because those
are expenses used housed the dinged table right you saved everything we
always would get like two milks at costco which were like big-ass gallon
ones and it was just me i was the only kid and he's like drink up it's
gonna go bad because he didn't want to buy the milk at royal farms or
7-eleven whatever you guys have it was like a dollar more all right and
that's why if you guys can gamify this with your spouse you'll win the

34 00:33:00.000 --\> 00:34:00.000 game because if you can play the game
you'll win but most people just don't realize that you are in the game
right now and other people are playing you so i gave you the first
habits one to five thousand of emergency and you do that before you pay
debt because something's going to come up and you don't want to break
the cycle of paying off your debt so you do that first then you start
paying off your debts from smallest to biggest all right so you can get
the emotional victories and you start winning number three then you save
up three to six months of living expenses so that you can feel
financially secure so you don't have to worry this will lower your
stress and will make your life much better the point that most people
have of becoming wealthy is because they want to become happier the
easiest way to become happier is become less stressed the easy way to do
that is save some money fourth step this is where you look at how you
can start building wealth all right and so the way to do that if you
have a mortgage and you don't want to live somewhere else renegotiate
the mortgage you can refinance right now because right now interest
rates are nothing and try and get a 15-year fixed that will make your
mortgage go up but the vast majority of the money will be

35 00:34:00.000 --\> 00:35:00.000 going towards something that you own
and so your principal will start you will be increasing your net worth
fun fact you don't pay capital gains on selling the house that you own
so if your primary home increases in value and you live in it for over
two years and then you sell it and decide to go upgrade because it's
gone up and you can buy 100 of your new house with the cash that you
have saved up you don't pay taxes there are some things the government
has done to help people out that is one of them so if you insist on on
living somewhere that is beyond what you can currently pay in cash then
refinance to get a 15 year fixed and then when it comes to cars if you
can combine because most you guys work from home well most of you
everyone here works for mom you probably only need one car and if you're
like no way it's like lately and i live with one car we still live with
one car actually now we have to but like we lived with one car for a
very very very long time right and i'm about to return because i don't
need to so if you can buy a car in cash which there are tons of good
cars in cash and here's what's crazy cars in cash that you buy and you
use for three years thousand dollars you can sell for five thousand
dollars you just use it for free

36 00:35:00.000 --\> 00:36:00.000 pretty well all right everyone ready
for five step five all right step five's exciting step five is where you
invest 15 of your pre-tax pre-tax income into the s p 500 again i am not
an investment professional i do not recommend that you listen to me in
any way you should consult your own professional advisors for any
investment advice uh and this is not a recommendation at all because i
don't know what i'm doing and so you can make your own decisions as an
adult uh to choose to do with your money what you want to do if you look
at the last 80 years of the s p 500 it's gone up by about 9 to 10 per
year for that entire period of time now if you guys haven't heard my
talk on volatility and risk it's good to understand this the reason we
built up the emergency fund of three to six months of living expenses is
so that you never look at that money and that you never stop putting
money into it and i will tell you one story that you guys know half the
story about and for those of you who are about to read the book you're
going to read the first half of that story

37 00:36:00.000 --\> 00:37:00.000 which is that i went almost to
bankrupt and i had a thousand dollars left in my bank account right
before i started gym watch what you guys don't know is that i had just
under 300 000 saved up that was in an index but to me and you can tell
by the way that that story was wrote that money does not exist once it
is gone it is gone you never see it again you never touch it don't look
at it and if you need to make money you find a way to make money you
sell something you work an extra shift you take up uber on the weekends
whatever the point is you don't touch it because if you can learn that
character trait you can learn not to put your hand in the cookie jar you
see the money that marcos can have if he just puts ten thousand dollars
away or twenty five thousand dollars away mark goes i see something
really crazy let's say you save 25 grand this year and let's say because
you're like alex i'm all in on becoming independently wealthy let's say
you save 2 500 bucks a month all right because you hustle your ass off
selling here's what's crazy

38 00:37:00.000 --\> 00:38:00.000 that money that 74 million is being
made it's just the question is whether you're going to be the one who
makes it or the bank that money's being made either way think about that
money is being made all day every day all the time the dollars always
work at the same degree for whoever their master is the question is
whether you're the master of the dollar or the person you're paying and
if yes you're curious about like what the tactics around this are all
you do is you download robinhood which is the app which is free connect
your bank account and you can you can deposit straight into an index off
there it's very straightforward you don't need an advisor they're just
going to charge fees which are actually going to kill your returns so
don't worry about it s p 500 again this is not investment advice do
whatever you want with your money in fact i might not know anything so i
definitely i would say don't listen to my bus right this makes sense for
everybody i'm gonna go through the steps one through five again from the
top one save one to five thousand dollars because that is the guaranteed
fund of something that's going to happen to you

39 00:38:00.000 --\> 00:39:00.000 you just don't know when number two
you pay off your debts in order of smallest to biggest not in terms of
the number how much money how much what percentage it's earning at you
pay in terms of how little you have to pay it so you can eliminate it
and just start crossing out line items all right step two step three you
save up three to six months of living expenses it's up to you depends on
your risk tolerance marco can probably save three you don't have kids or
a wife if you've got kids and a wife you might want to save up it's up
to you step four you look at what you're living with so if you have a
lease on a car trade it in get a 5 000 car and live on that period if
you can downgrade where you live and what neighborhood you live in do it
because i can tell you we just saw how 35 of your check is going to make
someone else 74 million by the end of your life it's just up to you
whether you want to make it or you want someone else to make it step
four actually that was step four uh if you if you insist on living

40 00:39:00.000 --\> 00:40:00.000 continued step four step four b if you
insist on living in the same place as you live now then refinance for a
15-year fix that way you're gonna get the vast majority of the one that
you're paying is gonna go towards the equity of the house and not to
interest fees and if you do that you'll be like whoa the amount i have
to pay for month is so much more it's almost like you're actually trying
to buy it fifth invest 15 of your pre-tax income pre-tax you have to do
some math here so if you make 50 000 a year you multiply that by 0.15
which is 7 500 and that's what you save that's minimum you can do more
than that do more than that get aggressive with it right and if you want
to be a superstar let's say you do that 15-year fixed and you invest 15
you plow the rest of the excess cash that you have into that equity so
you can pay it off early you know make sure that you have no prepayment
penalties so maybe you pay your 15 year fixed off in 10. and then in 10
years here's

41 00:40:00.000 --\> 00:41:00.000 what's crazy you have no car fee you
have no house fee you've learned to live on far less than you make and
now everything beyond the food you eat goes into building your wealth
everything and you'll be you will be frightened to see how fast it grows
and i will share one more fun fact for you guys today right now layla
for this year made more money on our money than we did from our
companies and i'm being transparent about this because i want to show
you that it's possible you also if you read the book see that i had a
thousand dollars on my bank account saved up and when i started my first
gym i had four thousand dollars total you can do this it just takes
discipline it just takes making choices where you look marcos that pair
of jordans instead of seeing a pair of jordans you see twenty two
thousand dollars that's what you have to see when you see

42 00:41:00.000 --\> 00:42:00.000 go getting beers with the boys on the
weekend for 20 bucks right of course you wouldn't do that because you're
19 and that's below the legal drinking limit so the non-alcoholic beer
that you get because you're a crazy person why would you drink up
non-alcohol beer you weirdo anyways so you go get your nine alcoholic oh
duels right for 20 bucks and instead you see that that's six thousand
dollars six thousand rk speed very expensive so just about everyone here
has been drinking top shelf their whole life they just don't know that
okay one thing alex that's from yes i was i was about to wrap up and
open it up so we're good okay cool um something that um you know because
alex and i obviously you guys are probably like well you guys own the
companies you know you have lots of money like are these things there's
a few things i want to point out which is one when we first learned
about money and money as attention was when we were literally like we
had it was when we first tried gym launch we went almost bankrupt like
in credit card debt like all that stuff that's when we got a coach who
taught us a lot about money and one of the biggest things that he talked
about was the attention of money the attention of debt and so with the

43 00:42:00.000 --\> 00:43:00.000 first paycheck i got from when alex
just paid me like an employee when i had made all the sales in the gym
in hawaii i paid off all my debt with that and so the reason for that
was like i only had a very small amount left it was just like the
attention that was going towards that debt right the second thing with
that is the same is true with things that you accumulate and this is
something that we've gotten the opportunity to learn as of more recently
like we had one car we had a small apartment we had all these things
when we first started the companies and over time you think well there's
such a large discrepancy between how i live and then what i have that
maybe i can fill it a little bit and then what happens is that you have
attention on those things because if you get a car that's more expensive
maybe you can afford it but it's the attention it takes because that's
like for an example a toyota you take into the shop takes a week to fix
we have a car that's in the shop right now it's been eight weeks has
been fixed right things like that that become complex even though it
doesn't need to be and so it's not even just the things that you're
buying with money it's the attention you get back when you start saving
the money so for example i used to tell people when they would come into

44 00:43:00.000 --\> 00:44:00.000 the gym they'd be like i'm in debt and
i'm overweight in the snack i'd be like well you have your nails done
your hair down your eyelashes like why don't you just get those things
on we're like they're like well i don't feel good about myself because
of those things right i do those things to feel better about myself i'm
like but the reason you feel bad about yourself is because you're in
debt and you're fat so what the hell and so i think that a lot of times
those things that are like vices for example cover like a short-term
pain fear anxiety insecurity we have but it's actually just piling into
the long-term one and so it's like in the short term it might feel worse
to save that money but in the long term you'll have way more attention
and way less anxiety if you do so i just want to share that i think it's
even if you have the money to get stuff stuff adds complexity which adds
more anxiety and so it's like we all want more money so we can have
stuff but then you just feel worse anyways so it's just it's just ironic
was this guys was this valuable for you guys this was different than
leadership and management stuff and how to run meetings which are all
very important as well but my goal is if i can decrease the stress

45 00:44:00.000 --\> 00:45:00.000 of everyone on this call by helping
everyone make good financial decisions then you know eventually we can
operate as a company of people who are not stressed wouldn't that be
nice because we realize that no matter what we're secure and we know
exactly what our expenses are we know exactly how much we earn and we
know that we make far more than we spend and we also understand that we
are 100 in control of our finances and so my my plea to you is that if
you've ever felt like someone else is in control or you feel like you've
been dealt the at the stick right you drew the short straw that no one
cares and it's still up to you like no one's gonna come to save no one's
gonna come to sleep but the good news is that what you need to do in
order to become the one percent in case you're curious one to five
million dollars in assets is the one percent that's it and we just
showed marcos here how to do that with twenty five thousand dollars and
so anyone here if you're like man but i've got i've got but i've got but

46 00:45:00.000 --\> 00:46:00.000 i'm different you're not just stop
you're not you're not my metabolism is different really you've solved
obesity we can just cure africa from starvation because your metabolism
is special you've figured out a way to not eat food and still gain
weight we have to put you in a lab so we can crack malnutrition we can
just figure out the genes that you have that somehow cause you to not
lose weight when you stop eating right somehow you've cracked arithmetic
and somehow figured out a way to spend even to somehow lose money and go
into more debt despite spending less than you earned all right like
you're not special the math is the math right and so i just like i
wanted to do this call because it's important to me that everyone here
on this call can use jim launch to become your financial vehicle for
wealth and ever can do that minimum wage makes a million dollars over
their lifespan and i showed you the contribution of the five dollar a
month

47 00:46:00.000 --\> 00:47:00.000 person it's 240 000 and it created
three million dollars so the question is do you want to look like you
live like a king or actually live like a king and i think that living
like a king comes from the peace of mind that you get and for me that is
how money serves me so because you have to figure out how many serves
you or whether money's serving you at all but that 74 million dollars
that marcos has the potential to make over his lifespan that money is
being made the question is whether or not you want it to be you who
makes it all right my sermon is over you got five minutes left i'm gonna
hold you um otherwise thank you guys for your attention and um if you
guys do get a chance uh grab a copy of the uh our sponsored our
sponsored book 100 million offers you can find it on amazon in the link
and if you feel uh so compelled to leave a uh leave a review uh that's
good then please do so if you hate the book then please don't leave a
review um anyways lots of love guys uh appreciate you all thank you so
much for for being on this journey with us i hope that we can all use
the well-being that we help gym owners uh succeed with and we can also
use the income that you guys have

48 00:47:00.000 --\> 00:48:00.000 to set yourselves free as well because
you can do it easy catch you soon hi
