"I Got Rich When I Understood This" | Wallstreet Trapper & Tom Bilyeu

[Music] i can afford any money manager i want and you are as knowledgeable as the money manager that i have i'm very impressed with your ability to explain these concepts there are certain people that are only going to listen to you they now have access to i'm telling you world-class information [Music] wealthy people do three things man they stop trading time for money they make their money work for them and they give as much value to people as they can and so i learned that as i got older that part really didn't make sense to me at the time but the money working for you part and i was like what the how do you make your money work for you again all i know is how to go get money so he says wealthy people first they get into stocks then they start a business and then they get real estate i took my time i researched the warren buffett's and the peter lynch's and i'm not going to lie in the beginning that [ __ ] was like chinese to me right this is a foreign language and so what happened to me was it started reminding me of being in the streets everything about it and i heard this term one time i said the real gangsters are on wall street once you know how something works then you can get good at it but if you and and i really think the vast majority of humanity and i don't care what class you're in the vast majority of humanity does not understand how the world works yep therefore they are at the mercy of the world and the people that figure out how it works can change things you know you have to understand how things work and like yeah that's that is to me what is so powerful about you you understand a game that a lot of people that are disenfranchised understand the streets and you're saying [ __ ] this is just physics let me show you the correlate over here it's all the same shifts that's it and so that's that's important for me the understanding the basics and the fundamentals like once you start understanding the fundamentals you give yourself power because you now understand like you said you see how the machine works right and so most people look at the machine and marvel and say either i'm like most people look at the stock market most 98 of the people who i know look at the stock market say yo that's not a game i can play i'm staying away from it and so the ways the way it's set up is the world is set up well listen cool i don't even want you to play just give me your money i'll play it for you so we look at like banks like we understand that banks don't necessarily work in our favor right so banks only give us 0.05 percent interest on the money we have there well we can get eight percent just by putting our money in the index fund so why would i just set my money in the bank and let the bank make all the money because all they going to do is invest the money for you so they now operating as the plug they operate now as the man who i'm gonna front you this i'm gonna make my money i'm gonna take the cut i'm gonna give you just enough to keep coming back i'm gonna go to the plug who's the plug the stock market right and so once i understood the fundamentals of like the most important thing too is we don't understand how money works that's a whole different language in its own the relationship with money in my community is you make money just enough to pay bills and so once you get tired of paying bills you say you know what i need to treat myself to something right no matter if i got to go in debt no matter if i i need to treat myself to something to take this misery away so you treat yourself to something that you can't afford at the time right but it makes you feel good in the moment and so because it makes you feel good you say you know what i'm living this is a reprieve from everyday struggle let me get back on the hamster wheel and so the sacrifice now becomes hard because now you're saying i gotta work work work and never get that reprieve i'm not willing to do that right and so that's the mindset comes in and say everybody around me had the same problem no one represented the solution so if i don't change something i'm only going to end up like everybody else i know somebody has the solution somewhere there's too many people out here living the life of their dreams that i'm watching they know something i don't know and the only thing that they had was access to a different type of information so once i went got the information i now wanted to sing from the mountains i was like yo look at this dope thing i found everybody gonna be a part of it and then when i showed it to people it was like that ain't it bro i'm not about to do that and so i realized how powerful it was for me to one become economically like powerful in my mind because the thing about investing especially in stocks is that piece of ownership of everything that i use now makes me say whatever i own that apple god i don't care about buying an apple phone if i'm gonna wear levi's and i'm gonna wear timberlands if i can own vfc corp then i own the stuff that i'm buying i'm okay with that like that subtle shift in my mindset changed everything for me because now i was after just owning everything that i consumed in the beginning that was my introduction to the game let me just own everything i consume and then i'll feel okay owning a stock is like it's owning a percentage of a great business and so once i understood that concept i understood that the key to wealth is through ownership like that's what that was one of the things that made it click because i studied the wealthy people the key to building wealth is not how much you can work you can't work your way to wealth you got to investigator in all wealthy people black white asian chinese they own a whole bunch of [ __ ] the people who aren't wealthy is because they don't own nothing you only have your money sitting in cash if your money is just sitting in cash realistically you're becoming poorer every day right or they own depreciating assets and that's what cash is it's a depreciating asset because the more money they print the more money that money loses value so if it's just sitting it's the reason why the bank wants you to have your money there so they can take it and use it and invest it so much and be like hey this is 50 cents on whatever you had in it and so the idea of ownership was yo we can just start owning everything that we no matter if it just a stock like that's powerful because if you can start owning the businesses that you now consume every day you turn a one-time transaction to a lifetime of profit because if i go to the store and buy a pair of nikes that's a one-time transaction in order for me to get something from them again i got to come back and buy another pair of nikes but if i own the nike stock long as i own it it's a profitable um vehicle for me so that one time transaction can become a lifetime of profit if i own that business and another great thing about the stock market is it makes me pay attention to the world and so now i understand what's going on in the world i started learning business cycles market cycles you know i'm like because now i can understand yo this is okay things are going out of business it's okay we're in this cycle okay people are hiring okay we're in expansion cycle and so now i started to take i took an economic class on my own without just understanding the world and so you start understanding when something is happening in china okay something happening in china so i own apple apple has 20 percent of revenue in china okay they might take a little hit right now what do you say to people that don't think they have enough money to invest [Music] so the important thing for me to tell them is start where you are you build the mansion you build an empire you build it brick by brick like you start with 25 if you can do 25 a month that's cool if you can do 25 a week that's cool but what happens is once you start understanding the power of how your money works you start saying yo i don't need to do that because that's taken away from this let me that 25 will now become 50 guaranteed that 50 will not become 100 because you're going to start doing more with less the person who works out and sees that they drop ten pounds in two weeks says you know what i'm gonna go a little harder because i know if i can drop 10 i can drop 20. right i know if i can get if i see one muscle shape up i know it's possible the word possible is so powerful possible changes the game instead of it being impossible we now say i am possible i i'm possible that changes the dynamic so the first mindset is saying invest in your first stop it don't have to be a winner it doesn't have to be a home run it can be an atnt stock that costs 26 right now it may not be the best investment in the world but you started right and the great thing about anything is you can't be great if you never go to practice you can't hit 81 if you never get in the gym so just get in the gym and then find somebody who can teach you be dedicated to understand the process warren buffett said he reads 500 pages a day we have to understand the power and learning and being educated man

Channel: Be Inspired

Views: 2,986,398

Keywords: be inspired, be inspired channel, be inspired video, getting rich is easy, wallstreet trapper, tom bilyeu, tom bilyeu wallstreet trapper, how to get rich

Id: LJB61Ji7oo0

Length: 9min 11sec (551 seconds)

Published: Sun Oct 31 2021

Reddit Comments

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gracias por compartir