you'll never be rich and here's why there's a lot of finance influence talking about get rich quick schemes invest in this and 10 extra money but the painful truth is that most of it is bs it's rare to achieve wealth overnight and it's exactly this get-rich-quick mindset that'll make you get poor quick sure some lucky few can be millionaires overnight but not many of them can actually keep their wealth i bet you didn't know 70 percent of pro nfl athletes who all of a sudden start making tens of millions of dollars will actually file for
bankruptcy two years after they retire it's because they're missing this one foundational thing that's required to build and maintain wealth and without it will make all this very challenging so let's talk about what it is and how to get it so you can start tasting the sweet nectar of financial freedom growing up my family never had much money my parents immigrated to the us with nothing but a couple of dollars some shirts and pants they didn't speak any english didn't have a high school degree and didn't know anyone in the states but they did experience
something life-changing back in china that they remember to this day they grew up in extreme poverty my dad would tell me stories of the food rationing system that he lived through decades ago china couldn't produce enough food or clothes or anything so each family receives a monthly ration coupon so that they can exchange it for food or clothes the coupon was only the opportunity to buy something you also needed money which they didn't have much of and even if you did have both money and coupon my parents still didn't have enough food because the ration
coupons only allowed you to buy enough food to prevent you from starving but never enough to actually make you full by the time i was born i wasn't raised in poverty we were a lower middle class but what was really interesting was that my parents mind they didn't get programmed in the way that many of us fall victim to despite them coming from poverty my parents were more concerned about the long term their children's legacy over themselves they didn't try to impress anyone with jewelry fancy cars or clothes none of that they would wear the
same clothes for years and i think my mom still has clothes from 20 to 30 years ago i remember that my mom would intentionally buy me clothes that were way too big for me like if i was a size small she would get me a medium because she says that i'll grow into it and of course i was embarrassed when i walked into class with my oversized clothes then i saw all my classmates with really cool book bags new shoes and here i was but as i got older i realized what my parents did for
me they taught me a really strong foundation that prevented the specific type of programming that so many people succumb to but to be clear my parents didn't teach me everything i needed to know about personal finance that's why i read books watched videos and read articles that revealed this phenomenon that i'm going to share with you that most finance influencers do not talk about society brainwashed us into thinking that becoming wealthy is only about taking action that if you take enough risk by the next crazy hyped up stock then you'll be a millionaire but that's
just wrong having the right mindset is equally as important as taking action a study from stanford by psychologist carol dweck she conducted an experiment with twelve 000 9th graders and these students were randomly assigned to complete either a 50-minute program that taught them about the growth mindset or complete an unrelated 50-minute course and the results were shocking maybe you probably already guessed it but the students that took the growth mindset course earned significantly higher grades than those who didn't which indicated that mindset played an important role in development and an improvement buddha once said that
the mind is everything what you think you become but that's bullcrap too yes mindset is important but remember so is action i'm not here to tell you that just because if you think about something then it's automatically going to happen you also need to take the appropriate steps to achieve your goal which i'll talk more about later one big reason that you'll never be wealthy is that you and most people you know were all programmed to be poor from the moment that we were born and every waking day since now i don't mean poor as
in living in extreme poverty if you're living in the united states you're objectively not poor compared to the rest of the world but i am talking about your way of thinking the poverty mindset where your thoughts and feelings are aligned with poverty which makes it more challenging to attain and maintain wealth the poverty mindset is a fear that you will never have enough it convinces you that your circumstances will never improve and therefore traps you in this endless cycle again it's not necessarily that you don't have money but it's rather how you perceive your financial
reality think back to when you were a kid how many times have you heard your parents say we can't we can't afford it we can't do that we can't do this sometimes it's reasonable but oftentimes it's two easy words that we default to because it makes it so you don't have to think about the issue anymore because you said it yourself there's no alternative path the consequence of this is that you subconsciously submit to defeat and chances are you also adopted this language from your parents beyond just our parental upbringing also think back about our
education system which is modeled off these things called factory schools which were first grade during the industrial revolution to produce compliant literate and timely workers who did exactly what they were told and you can look this up too if you don't believe me we're still using the same exact factory school model over 200 years later and the outcome is the same to produce the same types of people workers straight from school who are taught to play the game of life by thinking inside the box to avoid mistakes and failures to put their heads down join
the rat race and try to climb the corporate ladder this is the reality that many of us were programmed with this poverty mindset but there is a way out here are some actual steps to take that will make a really big difference but first if you're enjoying this video and you want to learn more about personal finance and self-improvement i'd appreciate if you subscribe and turn the like button into a beautiful black because that really helps out the channel how many of us can actually say that we learned about personal finance in school i'm betting
zero and if you did comment below because i'd love to hear where you're actually from so that means that most of us learned our financial habits from our parents if they weren't good with money then chances are you aren't either and this brings us back to the language of we can't we can't afford this we can't afford that the language that shuts off your mind but here's the trick to unlock it again and it's simply by adding a single word instead of saying i can't afford it ask how can i afford it it's a very
subtle difference in wording but by asking the question it opens up the brain and forces you to search for creative answers and opportunities now the point of this wording change isn't to necessarily achieve the goal now or tomorrow the point is to change your usual mental response from down to belief so that you can try to think of ways to solve the problem now i want you to think back to when you were younger how did you come up with your career choice or decide how you'll earn money in the future it was probably thinking
along the lines of what is something that you can do really really well that people pay for now that's generally how we all come up with our stereotypical professions that our parents wanted us to be if you're good at science doctor if you're good at math engineer go to english lawyer society taught us to pick some skills that we're good at master it and then people will pay us for it to be clear it's not a wrong way of thinking that's generally how 90 of the world functions it's what these factory schools wanted us to
think but this way of thinking also limits us by creating a ceiling where two things will happen first since you're the one performing the skills you're limited by the number of hours that you can work 24 hours in a day assuming you don't need to sleep or eat second there is a limit to how much someone will pay for your skills if you're a super specialized neurosurgeon sure you might be able to make let's say three thousand dollars an hour but eventually you hit a ceiling because the market won't pay a higher price generally this
is fine for most people but here's a trick to actually speed up your path to being rich instead of thinking inside the box try changing your mindset to be more innovative and entrepreneurial instead of thinking what is something that you can do really well that many people will pay for start thinking what is something that many people need and what can you create what value can you provide that will fulfill that need it's a very nuanced difference where instead of you directly trading your individual person your time in exchange for money you start thinking about
scalability how can you easily create one thing that will provide more value to more people this next one is going to completely blow your mind because it goes against everything you've ever been taught and it's simply stop working hard when you work hard for the sake of working hard you're not necessarily accomplishing more for the most part you're just doing busy work you're still a cog in a machine just a busy now it shows that you're dedicated to your employer sure but it doesn't really show your worth a cog does all the work that's needed
to keep the machine running but here's the painful truth you can always be replaced by another cog so instead of trying to be a cog that runs well be the machine itself work hard and break the mold people with the poverty mindset they always follow the rules they join the rat race they put their head down they do the required work minimize their mistakes and hope that they'll be recognized in a sea of millions who are doing the exact same thing and hope that one day they'll be paid fairly for how hard they work but
this fair exchange rarely ever happens let me ask you do you believe that your earnings or your income is related to how hard you work do you really think that ceos who earn 351 times more than the typical worker really works 351 times harder if you want to escape this poverty mindset and achieve success take what you want break the rules do something that makes you irreplaceable and very very valuable to your employer if you have a brilliant business idea make it happen ignore anyone who says that that's a silly goal because chances are there's
still a cog in a machine when you're trying to be the machine we were born into an unfair world where we all start with different advantages and disadvantages in life whether because it's a geographic location socioeconomic class or our physical appearance and yes i'm all for improving the system for the future generation but that's gonna take centuries of hard work and chances are you'll be gone by then always fight the good fight but the second best thing that you can do now is improve your own circumstances gain the knowledge change your mindset and pass it
on to the next generation so they can start off with a better chance now i'm not pretending like i'm perfect or cracked a secret code to wealth i'm far from it these are only some of the strategies that i've used to improve my wealth mindset and i'm still learning more every single day that i can't wait to share with you guys on this channel but remember it goes beyond just belief and mindset your actions need to back it up too if they don't then nothing will change you need to actively rewire your subconscious understanding of
money in personal finance it starts by getting to the core foundation of it and this video is the best place to start learning how to manage your money like the one percent is going to teach you the most important strategies to build wealth that the super wealthy uses and you probably never heard of before
