Do you work to earn money or does money work for you? I have listed five crucial decisions that can ensure you will never experience poverty again in your lifetime, especially if you are currently struggling financially. So let's dive right into the video.
Cousins, today's video is amazing because look, I'm going to talk about a lot of things here that work, It's fascinating how some videos can deeply resonate with people, inspiring and empowering them to transform their lives. There are those that promise to uplift individuals from poverty and guide them towards wealth. However, despite the abundance of knowledge and motivation presented, there will always be those who remain stuck in their circumstances, unable to enact any meaningful change.
Therefore, I would like to address five crucial decisions that need to be made. These decisions hold immense importance, pushing individuals towards a better future. But before delving into them, I kindly request your assistance.
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Thank you for your support! The initial and most important determination to make is to invest in yourself. It may seem incredibly simple and straightforward, possibly even foolish.
However, consider this: many individuals receive their salaries, spend all their money on daily expenses that we are already familiar with, and are left with a small amount of funds. And what do people typically do with that leftover money? They invest it in a Treasury or some other form of financial investment, usually with only a small amount.
While investing your money in Treasuries can be helpful to a certain extent, it may not contribute significantly to your career growth. Although your money is working for you, it might not generate enough income to support your ambition to progress. Instead, you could employ that money to enhance your personal value in the workplace.
Hence, it is not productive to complain about the lack of promotions, stagnant growth in business, or career stagnation while investing your money solely in financial applications. Consider this perspective: perhaps it would make more sense to invest that money in yourself—enroll in a course, engage in activities that foster personal growth or improve skills that are relevant to your job or business. This approach could enable you to add value to the organization where you work or to your own business, thereby increasing the potential for earning more money.
Consequently, you would hasten the investment process. Essentially, investing a moderate amount will lead to increased wealth, but only towards the end of your life. Yet, by investing more now, you can expedite the process and see a faster return on investment.
This is an inescapable maxim that applies to all. I want to clarify that I am not trying to discourage anyone's dreams here. I am not saying that you should not invest a small amount of money.
What I am emphasizing is that you should prioritize investing in yourself. It is pointless to complain about not growing, advancing in your career, or striving for success while allocating all your leftover money from your salary into various financial investments. Moreover, when I mention investing in yourself, I am not referring to spending that money on material possessions such as clothes or unnecessary procedures like plastic surgery.
Instead, I mean investing in your professional development—taking courses that will enhance your skills and knowledge, reading books that will provide valuable insights, and actively pursuing opportunities for personal growth and development. These actions are more likely to yield a significant financial return in the long run. It is ultimately your decision to make.
You can invest your money in the Treasury and choose to allocate it towards valuable knowledge gained from books, knowing that the latter has the potential to generate higher monetary returns if applied effectively. It is acceptable to combine the two strategies; however, never forget the importance of investing in yourself. Remember, poverty begins and ends with you.
This leads me to the second point: the decision you must make in order to progress from being an amateur to truly excel in the field of money, one must become a professional or semi-professional in its history, flow, and organization. But what sets these two apart from each other? When it comes to amateurism, the outcome is often predictable.
An amateur receives their monthly salary, which goes straight into their checking account. From there, they typically allocate it to pay installments, credit card bills, overdraft fees, and other debts that gradually consume their entire income. However, there is usually a small portion of the salary left over, albeit seemingly insignificant.
So what do amateurs do with this little surplus? They tend to spend it immediately on frivolous expenses, which ultimately hinders their journey towards financial prosperity. Clearly, amateurs think with a short-sighted perspective and fail to grasp the concept of building wealth.
On the other hand, a semi-professional adopts a contrasting approach. Instead of viewing their salary as solely a means to make a living, they perceive it as the lifeblood of a business. This perspective holds true whether they are a business owner or an employee of another organization.
Regardless of the specific role, this individual considers their salary as an investment into the growth of the entire structure. They aspire for continuous growth, personal development, increased profits, and the overall advancement of the organization. They dream of launching new products, witnessing the company take off, and expanding its reach as far as possible.
The underlying belief is that such progress would not only benefit the organization, but also the semi-professional themselves. After all, they recognize their own worth and refrain from adopting a mediocrity mindset. Instead of hoping for opportunities to simply arise, they actively contribute towards the growth of the organization and everyone in it.
Such is the mindset of a semi-professional; someone who understands that you must sow the seeds of success to reap its fruits. And in doing so, they can rise above the realm of amateurs and embrace a world of endless possibilities. And then the business generates income or a salary or income that goes into your checking account.
What does a semi-professional do with their money? Instead of using it to pay off debts, installments, and purchases, this individual focuses on directing their funds towards making investments. These investments can be divided into three main categories: investing in personal development and acquiring knowledge, investing in business ventures that have the potential to generate more income, and investing in financial opportunities.
Financial investments can be further classified into short-term emergency reserves and investments aimed at achieving personal freedom. However, there is always some surplus money, right? So, how should this excess be put to use?
Amateurs tend to waste it on trivial and meaningless items that provide only temporary satisfaction with no real benefits. Conversely, professionals or semi-professionals allocate these additional funds for planned expenses, thus ultimately saving money in the long run. For example, an amateur may end up dining at fancy restaurants every week, draining their wallet week after week.
Now, the professional saves that money He chooses to save and use that money to enjoy dining experiences in Italy rather than spending it on expensive meals every week. By doing so, he made a conscious decision to spend his money wisely. When you have cash to make a purchase, you can negotiate a better deal and ultimately pay less.
On the other hand, impulsive buyers often end up paying more than necessary. For example, if someone chooses to finance a car over sixty months, they will end up paying three times the original value of the car over five years. In that time frame, the car's worth will also depreciate to half its original value.
However, a professional buyer who can negotiate upfront will be able to obtain the car at a much lower price. This illustrates the difference between being average or mediocre and being a professional. Make the choice to be a professional rather than an amateur and avoid settling for less.
Thirdly, choose to put your money to work for you and take control of your finances. There is nothing more satisfying than having your money working hard for you. Money can be an excellent servant, but it becomes a terrible boss if it starts bossing you around.
When that happens, you are in trouble because you end up working solely to pay for your expenses. Your entire financial obligation is due. Being your superior, he commands you to labor.
You comply as a result of this, obligated to compensate for a plethora of items you've already acquired and employed. If you are one of the fortunate individuals for whom money works, incredible things happen. For instance, you can embark on thrilling adventures, explore beach destinations, and enjoy a lovely week with your loved ones.
And when you return, you will discover that your money has multiplied, simply because it was diligently working for you while you savored the blissful moments on the beach. Isn't that amazing? Let me share my own experience.
I have planned an enchanting trip to Disney towards the end of this year, and I anticipate spending a delightful two weeks there. And guess what? When I return, it's highly likely that I'll have more money than before!
You see, my money will continue to toil for me. If my investments were solely in fixed income, the growth would have been predictable and guaranteed. However, since I have variable income, it introduces an element of uncertainty—yet, I remain optimistic that it will yield positive results.
Of course, you might wonder, it all seems so easy when you're already wealthy. But what about when you don't have any money yet and the interest and income aren't enough to work for you? And this is where the big point comes in.
That money will work for you, with the only difference being that the impact it generates will be slightly smaller. However, every great endeavor starts with a small step, just like the magnificent Great Wall of China began with the first brick. You need to take that first step because from there, things will start to snowball.
The more you invest, the more income your assets will generate. And as your assets generate more income, your wealth will grow, leading to even more assets and income. It's a continuous snowball effect.
So, don't wait any longer and start your journey to financial success today. It's important to understand that seventy percent of your future equity comes from the initial thirty percent of contributions you make. Starting early is crucial because the money you invest today has greater value compared to investing the same amount next year.
Why would you prefer receiving R$one hundred reais in a year when you can have it today? By investing it today, its value will increase to at least R$one hundred and ten reais. Do you see the difference?
So, begin your financial journey without delay. This is the fourth and final decision, and it is an obvious one. You have come across this advice from various sources, such as Robert Kiyosaki, my book, and many others.
Remember - start today! Have assets, not liabilities. What are assets?
It's all the assets that work for you, that generate income. And liabilities are all those assets that make you work for it. For example, you buy a beach house, right?
You buy a beach house and it costs you more than it rewards you. reward. In other words, it gives you more financial outlay than it generates in profit.
It's a liability. Now, you take that house When you own a beach house, you have the option to rent it out when you're not using it. By renting it to others, you generate income.
However, the rental income is typically much lower than the actual cost of the house, making it a liability. On the other hand, if the rent you collect exceeds your monthly expenses, the house becomes an asset. It's important to focus on assets rather than liabilities, as certain liabilities can negatively impact your financial stability.
Strangely enough, we tend to embrace liabilities despite their drawbacks. So, as I start my life journey, I aspire to own a car, explore the world, invest in real estate, and possess everything I desire. And all of these purchases will only cause you to lose money.
Why can't people wait a little longer to buy everything at a discounted price in a more organized manner? It's important not to make that costly mistake. Moreover, whenever you find yourself with some extra cash, consider how you can invest it wisely and potentially increase your earnings.
In order to increase your income, it is important to invest in items that can generate more revenue. It is beneficial to always keep this mentality. Another important aspect is to diversify your sources of income.
Many individuals rely solely on one income stream throughout their lives, but it is wise to expand and avoid putting all your eggs in one basket. Diversifying your income not only makes you more resilient, but also less dependent on a single source of income. For instance, if you solely rely on a company for your income and that company goes bankrupt or terminates your employment, you'll be left without any income.
On the other hand, if you have various sources such as income from your own business, investments, rentals, and other endeavors, you will be more protected and experience greater peace of mind. Additionally, your performance tends to improve as you worry less about financial stability. To illustrate, consider my own portfolio.
A portion of my investments is allocated into real estate funds which generate consistent income. I am also a partner in companies listed on the Stock Exchange that distribute profits, usually every six months. Furthermore, my portfolio includes fixed income investments, strategic partnerships, public speaking engagements throughout Brazil, my training programs and courses, book sales, advertising, revenues from my YouTube account, small ownership interests in various businesses, and income generated from events I organize.
By diversifying my income through these multiple streams, I ensure that even if one of these sources were to cease, I would still have a stable and reliable income. I will feel sorrowful, but it will not be the end of my world, as I possess several distinct sources of income, some of which are inversely related. Hence, I need not excessively worry about it.
Nonetheless, every endeavor has a beginning, and building multiple income streams is not the starting point, quite the contrary. The most accomplished individuals I am acquainted with usually pursue a single path initially and gradually diversify their earnings over time. They did not embark on their journey with a diverse range of income sources and then centralize it.
And here's an additional piece of advice, my dear relatives. It would serve no purpose if you were to absorb all the insights I have shared here, which may be evident to many of you, and yet take no action, because copious motivation cannot compensate for a lack of initiative. Being fervently motivated without taking any steps forward will not bring you any further.
I implore you not only to watch this video, acknowledge its significance, and think to yourselves, "Wow, that makes sense, there's something there, there's something there," and promptly switch to watching another video, and another, and another, while doing nothing, my dear relatives. Instead, I implore you to complete watching this video and then take action. Engage in fruitful activities, whether it be writing, preparing for the following day, or any other productive endeavor.
Refrain from leaving these ideas solely within the realm of contemplation, for if they remain confined to fancy and never make their way into reality, you will inevitably meet failure. That is not what I desire, and I know it is not what you desire either, alright? My dear relatives, I eagerly await your presence in our next video.
Warm regards, and until then.
