rich people know a secret while normal people grind for a promotion or start kind of scammy side hustles the wealthy they get rich quietly but I think everyone deserves to know their secrets the thing that separated the richest people was not intellect it was a set of principles that have taken me from being stuck in the grind to owning my time having multiple businesses and eventually turning those businesses into Freedom they're not just ideas these are actionable backed by research and data and they've been lived out by some of the most successful people people in the world so in this video we're talking about the eight principles of the rich number one you become what you do the habits you build determine the life you live it's a simple truth and so if you repeatedly do a thing it turns out that's contagious if your daily actions aren't aligned with your goals you'll never actually have the success you're chasing a study in the psychological bulletin found that 45% of our daily behaviors are habits these automatic behaviors are directly linked to your long-term success or not it's not about what you do occasionally it's about consistent so that means the majority of our outcomes health wealth happiness all directly tied to the routines you follow the rich people they know this it's never just one skill it's what Scott Adams calls your skill stack this is fascinating you may not be at the top 1% of any one thing that's really hard but being in the top 10% of multiple skills that creates a worldclass stack habits work the same way they compound into these unfair advantages it was actually Aristotle I think that said we are what we repeatedly do Excellence then is not not an act but a habit this is sort of the understanding that if you do the same thing continuously you will have a result that is a direct action of that if you do nothing else for this portion do this one thing power of place so instead of you having to change why don't you change the place you're at it's a lot easier to change your friend group than it is to change your friends and I'm not saying that you should leave people behind but until you get a habit don't be around people places things that are the de detriment to the things you want in life and by the way don't feel bad about that at all I'm your permission to not feel bad the second thing that I learned from the rich is that you simply do not get rich unless you have Equity or what I call ownership now this advice is not aimed to 20s somethings looking to make your first dollars I made my first Millions through salary alone it's a necessary First Step but if you're a working professional with a chunk of money saved up who's been in a job you don't like for very long this advice is for you because the wealthy realize that at some point in your journey you simply are not going to get rich unless you figure out how to get some Equity even the highest paid employees know this and require Equity too so let's look at some top CEO salaries Tim Cook 3 million a year salary Sundar Pai 2 million Google Jamie Diamond 1. 5 million sounds like a lot right well actually how they make money is something totally different they actually make their money from Equity look at Cooks net worth 2. 2 billion Pai 1.
3 billion diamonds 2. 3 billion they didn't hit this level with a paycheck they did it through ownership now let's consider your typical 9-to-5 job fixed hours limited vacation boss breathing down your neck capped earnings it's stable but at what cost your job isn't as secure as you think and you might not be as valuable as you think to the company so you need to figure out how to make sure you become so Val Val that the company wouldn't exist in a way without you or the same way and thus they want to give you some Equity or you go start your own these guys the really rich they're playing a completely different game but it's a game you can play too and honestly wouldn't you rather join a game that rewards winning of course owning a business has its own challenges and that's why I don't think everybody should own a business but you should negotiate ownership the next is that obsessing over your reputation is more important than anything else it's actually your most valuable asset Warren Buffett has a famous line and that line is lose money for the firm and I will be understanding lose a shred of reputation for the firm and I will be ruthless and that is what I want us to realize is that it only takes really one bad decision to destroy your reputation and so you want to guard your name fiercely the really really rich refuse to play short-term games that could end up costing them their long-term reputation and that's what you guys are going to do too I actually left a company because I didn't align ethically with them the company at the time was a finance company I won't say which one and one of the divisions in the company they just it was like it was like wolf on Wall Street you guys ever seen that movie and I just felt like ethically these guys weren't very lyed a lot of them were on their like second or third wives or they had you know side pieces and again like I try not to judge other people I don't know maybe that was their agreement but it wasn't for me I was making a ton of money at the time and I could have stayed at the company but at some point I realized even though I don't do those things because I hang out with people who do those things they think I do those things so it's like you're getting none of the fun if you're into that stuff and all of the downside if somebody cheats on their wife they're going to cheat on you eventually if somebody steals from somebody they're going to steal from you eventually if somebody consistently lies they're going to lie to you eventually now let's let's not be too crazy all of us are flawed and do a white lie here or maybe we've I don't know not paid our taxes perfectly we're not here to be moral absolutists but we are here to the trend lines of humans how do they treat people over time another thing that you can do I was actually talking to Chris Voss about this famous FBI negotiator about what are the things that Psychopaths have in common and one of them is is that Psychopaths can't really keep long-term relationships which makes sense right because they figure out that the person's Psychopathic and so they said a big signal is does this person have a group of friends that they have known for a really long time now not necessarily husband and wife only that although that's helpful but friends and people who have worked for them for a long time and if they don't that might be because these people play short-term games if you want Financial Freedom you need skin in a game but here's the catch most people waste time figuring out how to play instead of just starting the wealthy don't do that they hire experts I hire experts that's why I know domain money is a shortcut they don't just help you manage money they build you a system that works so you can focus on taking ownership of your time and your goals so whether it's tax planning spending optimization or investing they handle the hard stuff and you get the confidence of knowing you're doing it right with the certified financial planners that have over 10,000 hours of experience remember you can't afford to sit on the sidelines book a free 30 minute strategy session today with domain money at domain money.
