what do you think is the one thing that differentiates successful people from the rest or what is the one thing that makes successful people successful it might seem like rich people are just successful because they've been born in Rich families they've been in the right place and the right time they're simply lucky but if you just zoom out for a moment and take a look at it you will find out that there are certain traits and habits that Ultra rich people have that everyone else doesn't if you want to know why most people will never live the cycle of poverty how to tell if a kid is going to be successful when he's just 4 years old and what the reach teach their kids and consciously that makes them successful then stick around because we are going to answer all of these questions and many more in 2021 billionaires made over $5 trillion with a capital T just think about that number for a moment that's more than the entire GDP of a country like Germany one of the world's most populated and advanced countries 2,755 people made more money than the biggest economy in Europe the wealthiest continent on the planet the world is unfair and unequal even among the billionaires the top 10 billionaires earned 400 billion dollars out of that wealth just imagine how bad billionaires on the bottom are feeling don't you feel bad for them when you come across such numbers it drives you crazy because these numbers are unbelievable to people like you a million dollars is a lot of money because that million dollars will send most of you to a retirement and not just you but literally most people living on this planet so it's easy to just point fingers at the fact that these people simply inherited their money they're just lucky but if you go to the numbers you will find out that even the top 10 richest people the people who made most of the money the people who dominate the fobes list most of these people did not inherit any Penny from their parents and even if you look at rich people in broader you will realize the exact same thing yes some people had a good start because their parents help them but the overwhelming majority build their netw worth by themselves of course if we take a look at the factors that makes some people successful While others not there are a lot of factors but all of these factors come down to a few basic principles that separates rich people from the rest yes there are actual traits there are certain habits that some people do that the others not I mean just take a look at the rich person and a poor person and you will quickly realize that these people have entirely different Lifestyles the problem is that there isn't like a stepbystep plan or a step-by-step guide that you can follow to become financially independent it doesn't matter which rich person you take a look at you will find out that every person who built a great netw worth had a unique path but if you take a look at all of them you will realize that most of them if if not all of them have actually followed a few basic principles that were the decisive factors that made them Ultra successful and these are things that are not taught in school or college I mean if you think that you can go to school and get your MBA and you will find this out that's not the case because if you just take a look at the numbers most of the MBA graduates settle for a lowp paying job or an every job and just settle for a paycheck to paycheck lifestyle when I tell people that becoming rich is about you it's about your dedication is about your discipline people quickly just point fingers to people like Mark Zuckerberg or Jeff bezas look they've been in the right time if it were if they were born in a different time other than that time they wouldn't be this lucky they wouldn't be the billionaires there today but think for a moment about your life I mean just stop for a moment zoom out and think about how lucky you are do you know that you were born in the best period in human history if you were born like 200 years ago you had no chance of becoming rich but because you were born in the 21st century you have the best chance to become not just a millionaire but literally a billionaire 200 years ago people couldn't even dream of the possibilities that we have today the billionaires today live a far better life than kings and queens did for millions of years that Humanity existed on the planet even the last 12,000 years that Civilization actually existed now if you were born like two or 300 years ago it didn't really matter how hard you work you literally just stood no chance and if you were born into slavery then you would just be another slave you would just follow the path that your parents followed that your grandparents followed and even if you're not a slave you would be just a farmer like everyone else back then the amount of tools and the information that you have in front of you is just unbelievable I mean you simply can just open up your Macbook or just turn on to your smartphone and you can find any information on the face of the Earth but people are simply lazy if you work as hard as your grand-grandfather did like two or 300 years ago you would be already a millionaire and you would be on your way to become a billionaire probably but most people simply waste their time doing absolutely nothing I let me ask you this how much time do you usually spend scrolling on social media watching useless content on Instagram or Facebook or Tik Tok the average person spends around like five or six hours hours a day that amounts to literally months over the long over the period of your life think for a moment if you actually spend that time working building something and it's not just about wasting your time on social media think about how often do you get distracted by your phone when you're actually working you see your brain works in such a way that every time that you get distracted your brain needs around like 10 to 15 or even 20 minutes to actually get back to what you've been doing like you can't simply like f switch your attention from one thing to another yes it feels like you're switching your attention you're multi toasting but that's not what actually happening what usually happens is that your brain needs time to come back to what you've been doing to refocus your mind into do that thing which is why it's impossible to multitask that's why if you actually combine the amount of time that you waste because of social media it's unbelievable and after wasting so much time after all of that people have the guts to say that oh these people are just lucky you know they just been in the right time in the right place because these people don't understand how the game of money works you see if you play a video game and you come to a certain level for example and you can't beat that level let's say you spent a 100 times and you still fail let's say you play that video game a thousand times and you still fail and then you Google on the internet and you find out that there actually people who pass that level who actually went above that level the first thing that will come in your mind is that it's impossible these people either cheated their game or they're just lucky because I have tried it because you think that you understand the game you understand the rules of the game but you don't you simply don't and that's why you keep failing what you should be doing is that is not trying another timey but you should sit down and understand all right what am I getting wrong what are the rules of the game what EX exactly am I getting wrong about this game of Life about this game of getting rich and that's when you make a progress that's when you know that what exactly should you improve in order to move to a different and new higher level because at this time your brain cannot think of any logical explanation how is that possible let me give an example let's say you're 18 years old and you go to college and you get a job at a fast food chain where they pay you $7 an hour that's not bad because you went from zero to making s $7 an hour yes $7 isn't really a lot of money that will amount to around like $2,000 per month but $2,000 can get you something you can get a roof over your head you can literally maybe rent a room or something like that and then you can just pay for your basic expenses yes you won't live a lavish life but at least you're making some money you graduate and you get a better job now instead of making $7 an hour you make $20 an hour I mean that's a great promotion you from $7 to $20 and instead of making like $2,000 per month you're making like6 or $7,000 that's still not a lot of money that isn't going to provide you with a lavish lifestyle especially if you live in a huge City but at least with that kind of money you can rent a proper place you can afford to go to a restaurant time to time you can afford to get a car maybe to a certain extent not talking about a Ferrari or something like that but just a Toyota Maybe the problem is that as you're making more money you're not realizing that you're programming yourself to be poor and that's the Trap that probably 90% of people fall into what's happening over time is that as you're growing the Korea ladder as you're getting paid more and more as you went from being paid $0 per hour to being paid like $7 an hour and then maybe 20 and 30 and 40 yes you are making more money but what's happening at the same time is that you're getting used to be paid per hour your brain is unconsciously trying to tie your work or the amount you get paid by the time you spent I mean there is absolutely nothing wrong with that most people make most of their money that way but what happens over time is that your brain will find it difficult to understand the concept of exponential growth the problem by getting paid per hour is that you will never be making a lot of money because your salary will grow by probably five or s 7% annually because if you want to get rich you cannot rely on making more by 7 or 8 or 10% annually you should increase your income by 1,000% or 2,000% or at least 100% I know that these numbers sound like illogical they sound irrational who in the world will pay you that much money I mean unless you are a genius who will Le shape the business and make the millions of dollars and that's why you have to understand the concept of exponential growth that most people don't understand the people are going to comment in the comment section and say that oh what a th% a million how about a million percent how about a billion perc now wait a second let me explain to you what's the exponential growth is all about and then you will understand how you're going to grow and grow your income by 100% or a th% or in some cases by 10,000% or maybe even by a billion per like you're commenting in the section below let's say you start a business and your income is going to grow Groll by a factor of two now the first year that you have started that business you might not be making any money at all in fact you might be losing money which is absolutely normal for any business that is starting let's say you work for a year or two years or even three years and finally you're making $22,000 per month from your business now if you compare that to your Starbucks company or the Starbucks where you got a job where you were making $2,000 now you were making $2,000 without any skills at all you were making $2,000 without working 24/7 and in this case where you started your business you worked hard for two years 24/7 to make that much money but what happens over time is that each consecutive year you'll be making more and more money why because you've built your infrastructure you've built your client base you've built your business you got the right people around you and if your business Grows by a factor of two then you're going to go from $2,000 to$ 4,000 and then you aren't going to go to 6,000 from there you will go to8 and then to 1632 and with each consecutive year you're going to make more and more money and that's how businesses work that's the point of the exponential growth that's how you increase your income by 100% or 500 or 1,000% the best way to understand the concept of exponential growth is to take a look at how compound interest Works let's say you save $10,000 and you invest that money in the S&P 500 now assuming that you will get a decent return of 8% which is extremely reasonable which is the average percentage you can expect over the long run when you invest in the S&P 500 now 8% on $10,000 is not a lot of money that's like what $800 that barely pays your bills if you're living in a small town somewhere so $800 a year isn't really a lot of money even if you do that for the the next 10 years you will save around what $100,000 and even that money if you invest that money in the S&P 500 it will grow to something around like 160 or $170,000 so it doesn't really make sense to invest that much money because you're not making any money at all and that's how people who do not understand the concept of exponential growth think about investing because if you zoom out and take a look at the long run you will realize that over the next 10 years years it's going to grow from $167,000 something like that to almost half a million dollars so in the second 10 years you're going to make far more money than in the first 10 years and if you zoom out a bit more and take a look at the big picture you will find out that over the next 20 years that half a million dollars is going to grow to something around $3 million so what exactly is happening here the longer you keep your money in the stock market the more it's going to to grow yes in the first year you aren't going to make much money in the second year you will make slightly more but with each consecutive year the growth is going to be more and more bigger and bigger of course the example that I just took a look is an extreme example where we took a period of 40 years but if you just take a look at any business that anyone starting a business starting a company you will just realize the exact same thing where in the first year it's not going to make any money where the company or the business bus is losing money the same thing Could Happen second year or third year but the moment that you realize that the business is breaking even you know that this business is going to expand because everything is set the infrastructure is built the team is hired so what happens if you go from a 9 to5 job into starting a business now your mindset is already shaped in such a way that I should get paid for every hour that I work and if I don't get paid it doesn't make sense to work at at all right so how are you supposed to start a business work on your own project where you will not be paid the first day the second day the first week the first month you might need to work like 10 or 12 or 15 hours a day for 365 days and nobody's going to pay you anything can you do that when you get out from a 9 to-5 job absolutely not because your brain is shaped in such a way and that's why often people who are used to their paycheck lifestyle they will never start businesses and if they ever start any kind of business they will most likely fail and they will go back to the exact same lifestyle because your brain cannot simply comprehend the fact that I will work for a year or two for absolutely free and then I will start making little money but in the long run because of the concept of exponential growth I'll be making millions of dollars or maybe billions of dollars so you see what's happening here by the time you get out of college you finish school get out of College get your first job and second job you already set your brain for failure you already psychologically prepared yourself to fail if you ever start a business wait a second people are not stupid they understand that when you start a business you have to build the infrastructure get the people get your clients and people are not stupid now you can say that when you're in your comfort zone and you look at it from the outside but try going in and starting a business on your own try it for a day for a month when you're there stressed when you see your running out of money running out of time when you're stressed 247 start thinking differently you start questioning whether you are on the right path or not you start thinking whether you did a mistake or not and that's why a lot of people quit on the way so it's very different from being there and doing it than just sitting from outside and looking at it and saying oh it's easy I mean I understand the point I understand the exponential growth grow so yeah it's not a big deal and that's why the people who already built one successful business they will go out there and build a second successful business because they understand the concept they understand how the system works they understand how when are they supposed to make money so they're not rushing they're just following and respecting the process talk to anyone who built a successful YouTube channel they will tell you that when they started they didn't really know what they're doing they didn't know that if they're going to work right now and make this video and work an entire week to make this video they don't know if anyone is going to watch that video they didn't know how are they going to make videos from their channels but they kept making videos some people did five or 10 videos and start understanding how everything works and their video went viral other people it took them maybe a 100 videos now imagine for a moment that you uploaded 100 videos without receiving a dime for it can somebody who comes from a 9 to5 job do that they don't understand that maybe you're wasting your time Maybe not maybe you'll succeed maybe not it's a risk I'm not saying that everybody who has a 9-to-5 job will never succeed in the business World there are plenty of people who come from 99 to5 I understand that and succeed but what I'm talking about here is that about the overwhelming majority of people so unless you make that shift in your mind in your understanding and your approach to life and business you stand no chance to become financially independent and this is just one out of many reasons why most people will never get rich back in 1960s a Stanford Professor wter michell conducted a little experiment to find out like why some people end up to be successful While others not why some people end up to be rich while the vast majority of people end up poor like is there a decisive factor that could differentiate successful people from everyone else the experiment was very simple an empty room with tables and chairs four-year-old kids were offered a pretty good deal have one marshmallow now or wait 15 minutes and have two marshmallows I mean it's a pretty straightforward deal either the kid is going to just ring the bell and have the marshmallow immediately or the kids going to just wait and have two marshmallows the idea behind the experiment was very simple will the kids choose an immediate smaller reward now or they will wait for a bigger reward later the first group of kids immediately ate the marshmallow without even ringing the bell they're like we don't want to wait when to have the marshmallow right now please give it to us now the second group of kids they waited they tried themselves they tried to trick themselves they literally hide under the table close their eyes they literally did everything possible to wait for the 15 minutes and enjoy two marshmallows and enjoy a bigger reward I mean what is the big deal here I mean it's just a marshmallow for God's sake let their kids eat the marshmallow but the idea behind it is very very powerful because after around 15 to 17 years when these kids actually became adults Walter michell found every one of them and try to understand if the experiment that he did like 17 years ago can actually tell us something about the future of these kids and the results were absolutely as astonishing the kids who did not wait for the marshmallow and immed Ely ate the marshmallow were more aggressive they did very poor in schools they failed in their colleges and they more likely went into drugs and so on and alcohol while the kids who waited for the second marshmallow who had the disciplin to control themselves and waited for the second marshmallow they were more mature they were described by their peers and parents as more adults they were more focused on what they did they scored better in their high school they performed perform better in college they basically had a far better life than the first group of kids the question that might be bothering you is do what does marshmallows have to do with becoming successful or not but if you just stop for a moment and think about it you will realize how much wisdom is that in that very little experiment in the first case where the kids instantly just ate the marshmallow without waiting for the second one they did not delay the gratification they had a smaller reward right right now while the kids who waited for the second marshmallow they controlled themselves they had the self- discipline they preferred a bigger reward later than a smaller reward right now two marshmallows is definitely better than one marshmallow but in order to get the second marshmallow you have to go through some pain through some resistance through some self-control in order to get the second one when you can actually get one immediately instantly without putting any work at all and if you think about that you will realize that in every aspect of your life let's say you have $1,000 now you can take that $1,000 and you can go and get yourself a brand new iPhone that's instant gratification right now right here you're happy you got your new iPhone or you can take the $1,000 and invest it let's say in the S&P 500 or buying some stocks now because you invested that money you don't get any gratification right now you have to wait until your investments will actually make some money and when they make money when your $1,000 will turn into $2,000 or $10,000 that's the bigger reward that you will get so you're delaying ratification and going through the pain of controlling yourself of resisting the impation of having a smaller reward right now or let's take another example a real life example one option is to just have junk food and watch Netflix the second option is go to the gym now having junk food and watching Netflix is easy you don't have to go through any pain or resistance it's right here it's right there all you have to do is that get some junk food turn on Netflix and watch now the second option requires resistance the second option requires self-discipline the second option will not give you any gratification instantly yeah you might feel actually good uh after going to the gym but overall you will not see any immediate effect of results in your body the only effect that you will see if you continue doing that for at least like 3 month 6 month or probably a year so but that reward that you will see a year from now by hitting the gym every single day for the next 365 days will be much better than just eating junk food and watching Netflix where you will just be overweight in a year think about your day-to-day decisions you will realize that every single day you have the exact same option you have an option of just lying in your bed just having that instant gratification or getting up and doing something important something that will get you a much bigger reward in the long run so according to Michael michell who did this experiment he came to the conclusion that the people who have this self-control and prefer there to delay gratification in order to have a bigger reward tend to be more successful in life because they tend to make far better decisions that decisions that will one way or another improve their life in the long run well the people who does not have that self-control the people who choose immediate gratification the people who choose smaller rewards right now tend to do poor in Life or take an example of starting a business now you have two options you're either going to go and have a paycheck to paycheck lifestyle you see when you graduate when you go and get a job you instantly get paid for every single hour that you work you get paid but the second option where you have to go and do something on your own where you have to start a business build something or build a YouTube channel whatever you want to do that thing really requires hours and hours of work without actually being paid instantly and the problem is that you're not really sure if that thing will work out it could fail and you might have to start again and do it second time the third time the fourth time but the reward that you will get from starting that business is going to be significantly bigger than any reward that you can get from a 9 to5 job but that's not the end of the experiment in 2018 Tyler Woods decided to answer a very interesting question that is related to this experiment and try a different experiment like why some kids choose one marshmallow and other kids choose two marshmallows are there some factors that can tell us something about these kids the outcome of this experiment were extremely shocking because Tyler Woods found out something that nobody believed that is true the kids who came up from Rich families tend to wait for the second marshmallow while the kids who came from poor families had the first marshmallow instead of waiting for the second one and there is very interesting reason behind it you see when you grow up in a poor family daily life has fewer guarantees there might be food in the fridge today and there might not be food tomorrow so it's better to have as much food as possible today if your parents come and tell you and promise you something let's say they will tell you that if you do better in school we'll get you a certain toy but then you do better in school and when the time comes in your parents cannot get you that toy it's not because they don't love you but because they simply don't have the money something went bad your father got fired from his job so when that happens over and over when that happens over a hundred or a thousand times during during your childhood you start thinking in such a way that that thing in the future that bigger reward in the future is a lie it's not going to happen now I waited once I waited twice I waited three times and it never happened I waited a thousand times and every single time it was a lie because being born and growing up in a poor family made that impossible well if you take a look at the kids who came up from the rich families they don't have that problem their parents promised to get them a new iPhone if they do better in schools they got them when the chame came in so they are programmed in such a way that if I actually wait if I do what is required if I delay gratification I will get what I waited for I will get what I was promised of course one incident isn't going to change your life one incident is going to tell you anything however when that happens on day-to-day basis for years in your life over time your brain simply gets programmed to think in that way and that's how generational poverty is created you see if you take a look at teenagers the teenagers that came up from poor families they will often settle for a low paying job instead of investing themselves when their time is so valuable they will go and get a job in a McDonald's or Starbucks or something like that because and when they get paid from their jobs what they will do with that money is that they will just splash it on themselves they will get themselves brand new clothes brand new iPhone they will update their car as soon as possible because they're not confident about the future they don't know what the future is holding for them they're not used to delaying gratification so they will just end up in that NeverEnding cycle of poverty that turns out to be generational poverty while Rich Kids the people who come up from the rich families they understand that if they just wait if they just invest in themselves if they just start a bigger business that's way better than just going and wasting all of your time in a low paying job that will end up in nowhere now before most of you throw at me your negative comments and tell me look there are poor kids who tend up to be successful there's so many examples yes of course you're absolutely right I'm not saying that everyone is like that there are plenty of poor kids who end up to be super successful I mean take a look at John D Rockefeller this guy became the richest man in America this guy became the richest man in the world back then and he was super poor he came from one of the poorest families out there so what I'm talking about here is that doesn't mean that every single case is going to be like that but this is the situation for the vast majority of people this is how vast majority of people tend to be poor end up to be stuck in a generational poverty while other people tend to be successful and end up building successful companies and businesses and if you just take a look at most of the entrepreneurs you'll find out that most of them actually came up from the upper middle class where their parents were lawyers Engineers or doctors where they made good money to provide for their families what's important to understand and realize here is that once you understand this concept once you understand the importance of it you make that shift in your lifestyle so that it leads to the change in your mindset and you won't do the same mistake over and over let's say that John comes from a poor family and he makes around $440,000 a year now that's not a lot of money but it's enough to pay the bills he can afford a car he can afford a roof over his head and he can basically afford to pay for all of his Necessities let's say that he's a hardworking man so he works hard and he gets promoted and now he's making $60,000 now that's far better than $40,000 do you know what's the first thing that John is going to do yes he's going to go and upgrade his car he might have been driving a Toyota but now now he can afford to pay for a Tesla but that's not the end of it he might even move to a bigger house he will start going out more often eating in a fancy restaurant but Johnny is a hardworking man so he keeps working hard and now finally he's getting to be promoted to be making around $80,000 that's double the amount that he's supposed to make back then now $80,000 is much more than you think now he can even upgrade this car a bit more he can move to a better place go to much more fancer restaurants meet better people dress well the problem is that as he is making more and more money John is not getting rich yes he's making $80,000 right now but the guy is not getting rich why because he's still where exactly where he started he's still making just enough money to pay all the bills yes he leveled up his game yes he's living a better life but he's not rich because he's actually just making enough money to pay for all of the bills that he has and that's exactly why most people never get rich and if you take a look at the statistics you'll find out that almost 80% of Americans leave paycheck to paycheck and these are not just the people who are making 30 or $40,000 a year these are the people who are making six figures over $100,000 and yet there's still living pic to pic because they're living the exact same lifestyle as John does they're the victim of the inflationary lifestyle where they keep improving their quality of life as they keep making more and more money yes all of these people are making more money they make way more money than used to they're making six figures they're making a hundred or $200,000 but their poor mindset have never left them they're just spending more they're not getting rich if something happens to these people tomorrow they will go back exactly where they have been before exactly the poverty that they came out from so what am I supposed to do that's how people live their lives I mean look around you will realize that everybody around you lives like that so let me ask you this question do you want to be poor like everyone else most people going to answer to this question no that's not what I want but if you look at their actions this is exactly what they're doing I mean take a look at the statistics the vast majority of athletes who literally make millions of dollars and I say millions of dollars and they really mean it they go broke 5 years after the retirement guess why because when they retire they keep the exact same standard of living while not making as much money as they used to in their Prime they kept increasing their quality of life as they started making money so when that money disappeared for a moment what happened is that they ran out of money instead of leveling down on their quality of life now it's really difficult to level down when they when you get used to a certain lifestyle and that is why you have to be very careful don't improve your quality of life unless you're making five or 10 times more money keep your quality of life as low as possible even if you're making double or triple or 10 times the money that you used to make in the past and Jeff basis is the best example that I can think of like if you just go back to 1999 this is Jeff basis yes he is driving Honda and he is worth at this particular moment over 10 billion yes and this is his office exactly this10 billion guy is driving a Honda and working in such an office now let me just demonstrate to you what a billion dollar really is because most people watching this video have absolutely zero idea what a billion dollar is now take a moment close your eyes and imagine $1 million now $1 million is a lot of money $1 million is the type of money that will send 99.9% of you to a retirement a million dollars invested in the S&P 500 can earn around $80,000 a year which is literally a retirement for most of you if not all of you and yet te that million dollars now multiply it by a thousand that's what $1 billion is yes and I'll take that billion dollars and multiply it by 10 now this is how jef bases this is how rich Jeff bases is at this particular moment and yet with all of this wealth he's driving a Honda and working sension office guess why because he knew that internet was a bubble back then and he knew that that bubble is going to burst and most of these people will go bankrupt and that's exactly what happened the internet Bubble Burst and over 90% of internet companies went bankrupt the only companies that did did not go bankrupt such as Amazon are the companies that stayed Frugal they knew the game they know that even though they're worth so much money that's not sustainable they have to keep building their business so Jeff basis consciously took a decision to delay gratification and work hard yes even though he was like worth 10 billion he still kept working hard for another 20 years in order to become the richest man in the world and yet people who are poor who are lazy to even save 1% of their income point fingers at Jeff bases and call him he's lucky this guy made conscious decision to be where he is exactly yes maybe lack played a role in his life but all Lucky to a certain extent the fact that you were born in the 21st century is already the biggest lack that you can actually have the fact that you're born maybe in the US or any other first world country or even maybe second world country is already a lock the fact that you have access access to the internet the fact that you have an iPhone a smartphone or a computer is already a lock and today since he have built such a massive net worth the interest alone from his Investments bring him so much money that he's not capable of spending that money that's why he can go out there and buy a act for a billion dollars and that won't make any difference in his lifestyle in his net worth I mean he's simply physically not able to send or spend all of his money during his lifetime that's why he can randomly spend any money he wants without ever being worried about money at all in his entire lifetime and that's not just for him but his kids and grandkids as well so instead of blaming other people for being lucky and being in the right place take this conscious decision for yourself decide for yourself that you're not going to be a victim of the inflationary lifestyle no matter how much PR pressure are there from the society no matter how many times your friends upgrading their cars upgrading their houses now I'm not telling you do not work hard work hard make more money than all of them do combine but at the same time stay humble stay true to yourself understand that you're playing the long game not here just to make a few bucks here and there and just disappear you're playing the long game where you will be making millions if not billions of dollars in the future that should be your focus you're delaying gratification when the gratification when the gratification is going to be way bigger and much more rewarding you see every penny that you spend or waste is a penny that could be invested somewhere so let's say for example you want to upgrade your car and if you upgrade your car you have to make an extra ,000 so instead of $1,000 now you're paying $2,000 if we factor in everything insurance car loan whatever everything so over the next 30 Years by paying an extra ,000 you're going to waste $361,000 but that's the wrong way to think about it because if you just stop for a moment and think that all right instead of saving just $1,000 I will check that $1,000 every single month and I will invested let's say in the S&P 500 now S&P 500 is the safest place to invest your your money in the stock market what do you think that $1,000 will amount to now over the next 30 Years that $1,000 will turn to almost $3 million that extra $1,000 instead of paying it to the car you invest it over the 30 years it will grow to almost $2 million yes so ask yourself this very simple and basic question do you want that car or you want another $2 million yes you're leaving $2 million on the table just because you're spending that money on a car in instead of investing that money and that's something called the opportunity cost the cost the thing that you could do with that money instead of spending on that thing and that car is just one example just think about your life think about how much money you waste how much money you spend on stuff that you don't need if you don't negotiate the rent price for example so every single month you're paying extra that extra could actually be invested in the S&P 500 every time you buy something that you don't need that that money could be invested in the S&P 500 every time you waste money on something so when you start approaching life when you start thinking about money from that perspective suddenly you start realizing that you're living so much money on the table this thing yes it cost just an extra, but in the long run that's extra $2 million this thing here cost a little extra $2 $30 but in the long run it's an extra $400,000 so when you count in everything suddenly realize that you're actually living millions of dollars on the table over the course of your life that approach to money will change your entire perspective about how you spend your money now I'm not saying that stop buying coffee every single morning stop treating yourself stop spending money on luxury closes do whatever you want with your money that's your money you work hard for it you deserve it but if you're plan to actually get rich if you're plan to get out of this of poverty then you have to be strategic about your money especially when you're just starting especially when you're at the beginning of your journey especially if you come up from a poor family or from middle class family where you barely made ends meat and you were never given money by your parents where your parents not inherit you millions of dollars for you to start your business that's why it's extremely important to approach money from that perspective that will help you to start saving more and more until you reach that position where you're in investments will pay for everything but it's not always your fault that you are poor because if you come up from a poor family your brain is automatically programmed to be poor then you go through the entire educational system that reinforces these ideas and keeps you poor for the rest of your life especially if you settle for one job and then another and the third and so on and so forth most of you watching this video probably went to school in some countries it's literally a crime not to send your kids to school so you went through the entire educational system that teaches you the values and the principles that keeps most people poor the teachers that you meet in school they tell you what is right what is wrong they tell you how the world Works they teach you everything about life so if these people are not good at the game of money if these people are not good at building businesses if these people are not good at becoming rich then that's what they will teach you they will be your role models in your life life they will reshape your idea your perspective on life and your approach about how you view life how you view business how you view everything take a look at the vast majority of people these are not hyp successful people who decided to become teachers and teach you everything School in most cases people become teachers because they just couldn't be hired in the private sector so they went on and mastered one subject in order to become teachers and get paid by the taxpayer so this person who couldn't get hired in the private sector is now teaching you everything about life you're doomed from failure with this kind of teachers you don't even need enemies I don't want to put down all the teachers there are certainly some great teachers out there but if we going to be honest with each other if we take a look at the overwhelming majority of the teachers you will realize that most of them have nothing to do with success they don't live the kind of life that you want to live they don't know the world of business they don't know how the money Works they don't know how capitalism Works they know nothing and yet they teach you and reshape your mindset and your outlook and life and then you spend their 10 or 12 years of your life and then you go to college and in college you meet people who teach you marketing they teach you accounting they teach you business the people who have never practiced marketing the people who have never practiced business are coming out and teaching every everything about business that guy who's teaching you Marketing in school or college could actually go and build a business and make millions of dollars instead of teaching you about marketing but he can't because the knowledge he has is just pure Theory from the books that he that he've been taught and then he went to college and got the theory from another professor and now he's teaching you now I'm not saying that there aren't great professors yes in many schools there are actually really great people who actually succeeded in in the business world and now they're teaching the Next Generation but that often happens in the super expensive schools like Harvard Stanford the IV League schools and doesn't really happens with the vast majority of the schools around the country so think about your life first of all your family sets you and reshapes your mind into poverty then you spend another 11 or 12 years of your life in school where your teachers actually reshape your mindset to be poor and then you go to college or university and there your professors are the people who just know Theory and never put that theory in practice and teach you everything about the world what happens to your mind what happens to how you look at life you're already programmed to be poor so you get out there and you get your one job and your second job and you settle for that pic to pic lifestyle because everything prior to that was actually made to bring you to that position and even your teachers back in school used to tell you that you got to get better grades you get to get A's why because you have higher chances of getting hired now nobody tells you that who cares about the gr you should be thinking about how you can build something on your own you should be thinking about how you can build teams you should be thinking about how money Works how business Works how capitalism Works how taxes works these are the things that nobody teach you and nobody really cares what the teachers cares about in school is that get good grades so that you can get a good job that's all what they care about and that's why if you just take a look at the rich people you'll find out that they didn't get their knowledge from schools they either started reading a lot of books when they were super young or they found a really good Mentor that taught them everything about life about business and that's how they actually found out how to become rich early on in their life and work hard to become one now that doesn't mean that you stand no chance remember we have something called internet you can buy the books on Amazon you can watch the lectures you can buy the courses that will help you to get where exactly you want to be and that's why in the beginning of this video I specifically told you that you're living in the best period in human history because we have never had so much access to information like we have today so please be wise take advantage out of this situation take advant Vantage out of the fact that you're born in the 21st century stop wasting your time on nonsense content on Instagram reals or Tik toks and use that time wisely invest it in yourself learn the skills that will actually get you to Financial Freedom now this video is already too long but what I wanted to make in this video is that not discourage you from becoming rich I hope everybody who's watching this video will one day make as much money as he ever dreamed about but when you understand the factors that are ke keeping you poor the factors that are keeping you down there then you know how to fix them if you don't understand these factors if you just be blind you will never fix these problems and you will never be rich so if you want to learn more about the stock market the world the business the rules of money check out the channel there plenty of videos that can help you to actually State your life for Financial Freedom and the people who are serious about the stock market investing then check out the link because I have my premium program where I teach you how to become professional investors thanks for watching and I will see you in the next one
