if you were to take everyone’s wealth in
the market today meaning if this person
is worth a thousand someone here’s a ten
thousand a hundred thousand a million a
billion if you added everybody’s wealth
up in America you would come out with a
number close to 90 trillion dollars that
is a total wealth of America and by the
way one percent of America controls
thirty six percent of that ten percent
of America controls seventy five percent
of that and today I’m going to talk to
you about ten reasons why the rich keep
getting richer so before I get into I’m
gonna do something I’ve never done
before and here’s what it is while I’m
going through this you ought to be
taking notes because in the middle of it
or at the end of it I’m gonna be asking
a question I don’t know what the
question is going to be the first person
that sends me a tweet at Patrick big
David the right answer I will be calling
you and will be able to tell me the
conversation today but it’s got to be
the first person so pay attention to
everything I’m going through in this
video so listen the topic of rich
getting richer is something you hear
about on CNN on Fox and MSNBC in schools
teachers professors parents business
everywhere these rich people they
control all the wealth they’re so greedy
they all they want is power cars or land
most Ferraris castles mansions I mean
how much more can you have why is Bezos
got a hundred and forty five billion
dollars he can live off of $100,000 your
income and then on the other side you
know hey this this is why the poor
doesn’t have money because they don’t
study in there don’t read books and why
don’t you pick up a business book and
find out how money works why do you
blame the rich why don’t you pick up
some of their habits that they have why
don’t you work more than 40 hours a week
and so this thing goes back and forth
right and so before I get into the ten
reasons why the rich keep getting richer
I want to give you some data I want to
give you some data for you to be looking
at and hopefully this will happen with
the argument because in mice in my
opinion I believe the gap of rich
getting richer is just gonna get wider
and wider and wider you’ll find a widest
as I go through some of these numbers so
if we were to take the top 1% richest
people in the world not America in the
world top 1% you would need to have
somewhere around 750 $3,000 to your name
now having said that data came out
breaking down which country has the most
people with 750 $3,000 to their name and
here’s what the top 10 countries looks
like at number 10
Korea has 1 million people with 750
$30,000 to their name
Canada 1.6 million Australia 1.7 million
italy 1.9 million china with 1.4 billion
people living there they only have 2.7
million
germany 2.8 million france 2.8 million
UK 3.3 million japan at number 2 with
4.5 million and you ready number one
america 19 point 1 million americans
have a minimum of 750 $30,000 to their
name which by the way here’s an
interesting stat if you take the rest of
the countries on the top 10 list and you
add them up they still don’t have as
many people that have 750 $30,000 to
their name as America does and so the
question becomes why is that by the way
most of the other countries run a
socialistic economy America still till
today runs a capitalistic economy which
gives the average guy like me to go out
there make money and hey all of a sudden
you have 750 three thousand dollars to
your name because the market allows
people who bring value to go get that
kind of money for themselves if our
wealth was divided based on US land
here’s what it would look like one
percent of America would own this part
of the land nine percent would own this
30 percent would own this on the bottom
20% would own that bottom part you see
like right there it looks like Texas and
40 percent of America would own that
little red dot you look at the bottom so
you know how you look at that red dot
that red dot my family my mother my
sister my dad we were a dot of the red
dot let me explain we came to America
with barely five thousand dollars toward
him I mean literally we were living with
family and then finally we found a place
to live that was one bedroom we had
nothing to our name we didn’t own a car
we had nothing I walked to school every
single day from Broadway all the way up
Chevy Chase to Wilson junior high school
because nobody dropped us off
everybody’s kids their parents would
drop us off I never got AB matter of
fact I’ve never been dropped off to
school let me say this again I’ve never
been dropped off to school in America
ever from seventh grade on I’ve never
been dropped off to school
we didn’t
that kind of money and so I worked at
Burger King I worked at Bob’s but I
worked at Hagen there’s that one to the
military I had one point a GPA I stayed
in the army I was gonna say 20 years I
got out a friend call me hey come and
try something that I got into sales and
I’m looking at all these things I see
these nice cars on movies with Tom
Cruise and they’re stealing this Ferrari
I’m watching you know Gordon Gekko but
box and all these cars and these homes
and men what if one day we can live in a
big house what if one day we can have a
Ferrari or Lamborghini in all this other
stuff and there’d be two different sides
friends at by the way in a military out
of barracks one group would say well you
know these rich people men they’re
greedy they abuse a system they do this
they do that they do this and this other
side there was a group of us me Bradford
a couple of us yeah but what if we could
do this well who cares we should go do
this one we were dreaming right we were
dreaming what if this could take place I
realize the big 1% of America the top 1%
of America they’re curious they want to
find out how to get there so just like I
said earlier that the gap is gonna get
wider and wider I am Telling You that 90
trillion dollars very soon is gonna be
200 trillion dollars 500 trillion
dollars and the only question you got to
be asking yourself in the next 5 10 15
20 years what piece say that’s gonna be
yours you’ll see why I’m saying this as
I go through these 10 points point
number one is exponential growth by the
way this point a lot is the reason why
the gaps gonna get wider and wider and
wider
you can skip everything else this one
point along I’ve talked about in another
video called 20 rules of money this is
why the gaps gonna keep getting wider
and wider and wider look very simple say
I have ten thousand dollars say you have
ten thousand dollars okay
we are both 25 years old both of us have
ten thousand dollars I choose to put my
ten thousand dollars in an account that
gives me three percent you choose to put
ten thousand dollars in an account that
gives you twelve percent it’s only four
times more so meaning whatever you get
you should only be four times more than
I should be right so let’s take a look
at what our money looks like twenty four
years later
twenty four years later my ten thousand
dollars
barely becomes twenty thousand dollars
you ready your ten thousand dollars is
officially a hundred and sixty thousand
dollars that’s eight times more even
though the interest is four times more
now let’s continue to go forty eight
years and see what happens
twenty four years after that my twenty
thousand becomes forty thousand
you ready to see what happens $260,000
it is now two point five six million
dollars that’s two point five two
million dollars more than me by the way
let me say this number so I was getting
three percent you’re getting twelve
percent you’re already getting four
times more interest than I am you
realize how much your money is gonna be
more than mine by forty eight years from
now sixty-four times more money
sixty-four times more money so think
about it this way if I continue with the
same habit of getting three percent for
another twenty four years look what
happens and another twenty four years
for what happens and another twenty this
why the rich keeps getting richer so
unless education in the high schools and
junior high schools and colleges change
and start teaching these kids about the
basics of money the disparity ain’t
stopping and there is nothing anybody
can do about it including CNN MSNBC and
half the professors at these
universities because they keep bitching
about this stuff but no one’s talking
about money no one is talking about let
me teach you how to get 12% let me teach
you how to get 8% everybody’s just
complaining whining without any
solutions point number two this one’s
very easy its positioning once you get
out of college once you get out of high
school you have a choice on what you
wanted you can go get a regular job you
change your you trade your work for
hours I make fifteen bucks an hour
twenty bucks an hour thirty dollars an
hour and that’s fine and a lot of
America is just chasing that there will
pay me sixteen dollars she guess what I
got I got twenty two dollars here and
there will pay me twenty two I’ve got a
better job and I put on making twenty
four year I was making twenty five 1932
they’re chasing this right and what they
don’t realize is that’s not how you
create wealth there’s got to be an
element of you saying I know for a fact
if I position myself here and if I can
become an entrepreneur or if I can get
equity or if I can get ownership and how
do I get that part this can lead them to
something bigger for myself that’s why I
say positioning if you keep trading
hours for a dollar that you’re getting
paid you’re gonna be limited there’s got
to be a part where you go out and
position yourself properly I’ve said
this story many times
I live in wealthy communities and in
these wealthy communities everybody I
talked to I asked him how did you make
your money you know I made my money
because I started a business great I
made my money because I was part of a
startup and guess what happened to this
startup I was there for five years I
ended up getting piece the company five
years later the company was bought by
this company four billion dollars I got
my six million dollars I got my
$100,000 I got my 2.2 million dollars
it’s positioning so wherever you’re
working at ask yourself the positioning
of the environment you’re in is it can’t
see going out with there’s a possibility
for bigger upside or is it linear hurry
up and change it and if you choose not
to change it then don’t be surprised if
you don’t have 750 $30,000 because you
chose the position you’re currently in
what number three is long-term thinking
the best example of long-term thinking
is one of the richest men in the world
and that’s Warren Buffett I want you to
look at this chart that I’m gonna put up
and the part I want to look at is how
his wealth grew from 18 years old to his
81 billion dollars today that doesn’t
include the billions of dollars that
he’s given away to charity so let’s take
a look at this guy named Warren Buffett
one of the richest wisest smartest
investors in the world how did you amass
as well so at the age of 19 he had
$10,000 to his name the first million
dollars he made he was 32 years old give
or take fast forward to the age of 40
years old you’ll notice he had a thirty
four million dollar net worth right now
watch what happens here from 34 million
dollars the next year or two it goes
from 34 million dollars to 19 million
dollars I think as much as we spend time
talking about how rich this man is we
forget to talk about this moment in his
career let me explain to you why do you
know how many people in the world when
they drop on 34 million to 19 million
dollars that’s 50% of the waters gone
what do you think most people do they
cash out they take their money out they
listen to news the news the same world
you know it’s the world’s coming to an
end war is coming through you know this
is what’s gonna happen that’s what’s
gonna happen price of oil oh my gosh
panic panic panic panic panic everyone
reacts this guy says I trust my
discipline because I’m a long-term
thinker and watch what happens here he
goes from 19 million dollars to 67
million dollars two billion dollars at
fifty six to eighty 1 billion dollars
today let me compare his net worth to
some of the countries in the world watch
this year Guatemala he’s got more than
Guatemala Costa Rica Luxembourg Slovenia
Serbia Tunisia Ghana or Gua Kenya
Ethiopia Lebanon Bulgaria boos Pakistan
Croatia
Lithuania Warren Buffett is beating
those countries one human being is
beating countries I wanted to go back to
Forbes 400 list
back in 1982 when it first got started
here’s what it looked like so the total
net worth back in 1982 a Forbes 400 was
93 billion dollars they you took all the
400 added it up it was 93 billion
dollars and the richest man on that list
Daniel Keith Ludwig he had a net worth
of two billion dollars by the way here’s
the kicker you ready Daniel Ludwig
wouldn’t be on today’s Forbes 400 list
and out of the 400 names back in 1982
only 36 names are still on the list
today 35 years later so now let’s take a
look at what the total net worth of
today’s Forbes 400 is you ready from 93
billion dollars to today 2.5 trillion
dollars that’s five doubles not not just
500% that’s five doubles 93 billion
times 2 times 2 times 2 times 2 it gives
you 2.5 trillion dollars which tells us
35 years from now by 2050 3 the Forbes
400 list total net worth is going to be
80 trillion dollars so the only thing
you ought to be thinking about is the
following thing if 35 years from now
that numbers gonna be 80 trillion what
piece of that 80 trillion is gonna be
yours what piece because think about it
if that 80 trillion is only 400 people
in America what do you think the entire
net worth the entire wealth of America
330 million people is gonna be in the
next 35 years you know how big the
opportunity is for the right person
watching this if you listen to point
number three and you say look
exponential growth was number one got it
positioning was number two got it
long-term thinking was number three got
if you turn off the video today you
didn’t watch the rest those three
principles is what makes these guys the
kind of money that they make so can you
really think long-term or immediately
something that goes wrong to disappear
and you go panic and you go back to your
corners oh my gosh I can believe this is
happening to me but for those of you
that are watching this that are saying
I’m gonna be disciplined to be a
long-term thinker you’re gonna put up
numbers experience certain things in
life that you thought were fantasies but
it’s gonna happen to a few of you number
four this one I’m not gonna spend a lot
of time on because it’s very
self-explanatory regrets minimization
I’ve spoken about in a couple other
videos minimize the number of regret
when you look back you don’t want to be
able to say I messed up here with drugs
I did this year I did the divorce I did
that oh my gosh I got it so many dumb
mistakes I made that you could have
prevented yourself on making it for some
of you that are saying I feel bad
because I just went through divorce
three years later you make me feel bad
our current president is on a third
marriage you’re okay just minimize the
amount of regrets that you’re gonna have
because it doesn’t stunt the momentum
that you have your best friend and
accumulating wealth as momentum don’t
get in the way of momentum water it sure
gets bigger and bigger and bigger number
five specialized skill very simple
most people generalize this is
specialized skill you got to figure out
something that you specialize in what is
it communication selling finance real
estate hedge fund stocks bonds what do
you specialize in specialize in a skill
most of the guys that we talk about they
specialize in a skill warm buff and
investing Trump wealth real estate you
know you look at Zuckerberg social media
he understand the concept of the
Internet you understand what he’s doing
with that everybody has something they
specialize in what’s your specialization
number six anybody can learn this
concept here and it’s concept here is
your contact networking look I can take
my business back to 1999 when I went to
a man’s house it was a millionaire and
he had a big party and I made a lot of
relationships after the relationship two
years later he introduced me to a guy
that introduced me to a guy in 2003 that
contact is what led me to making thirty
million dollars just off of one sale you
know I went to an insurance conference a
few years ago met a guy we didn’t hit it
off we had a terrible call together one
time I’m talking a 5-minute call that
was horrible horrible call I said we’ll
never do business with this guy he came
back saying I still want your business
what can we do to make this work we made
it work fast forward he’s the one that
ended up putting me in contact with De
La Hoya and couple other guys that
raised ten million dollars for business
these were contacts we networked we went
through it look at Zuckerberg he goes to
Harvard meets a kid named Edward meets
the Winklevoss brothers that leads to
Facebook you look at Warren Buffett who
networks and meets a guy named Charlie
Munger who he thinks is smarter than he
is and that bring those two together
build the empire that they built
everything’s about networking in your
context especially if you want to
increase your wealth let me put it to
you this way it is very difficult for
billionaire to befriend somebody that’s
for $20,000 very
you know why because the experiences are
different and level of thinking is
different if you hang with a billionaire
you’re twenty thousand dollars somehow
some way is gonna get hired somehow
someway this thing gets hard because
you’re borrowing they’re thinking you’re
borrowing who they know you’re borrowing
their association so if networking is an
area you struggle with I made a video
titled how to network like Casanova go
click on a link below and watch that
video how to network like Casanova
number seven leverage everybody watching
is leverages other people let me explain
to what I mean by this a father watching
TV or football on a Sunday leverages Sun
as a Sun get me a beer that’s leverage a
person who goes to restaurant and sits
to have food with another friend
leverages the waiter or the waitress and
says can you please give me a diet coke
and a bone-in rib eye and lobster mac
and cheese and that’s for me thank you
so much you leverage the waiter or the
waitress and in return for the leverage
you pay 20 points 20 percent of the bill
to that waitress that’s leverage
everybody leverages except the wealthy
and the rich do it at the highest levels
let me explain to you you can only work
20 hours in a day the hardest-working
person in the world is limited to 24
hours in the day you can’t work more
than 24 hours in a day but they realize
if you really want to leverage time if I
want to work 2,000 hours in a day I need
250 people who work 8 hours in a day
it’s basic math 20,000 hours in a day I
need 2,500 employees
200,000 hours in a day I need 25,000
employees and they keep leveraging over
and over and over and over again and it
gives them an unfair advantage over
everybody else however there’s not a
single person watching this that can’t
apply the concept idea because you’re
already doing it at the lower level why
not do it at a higher level number 8
this next one is about reinvesting their
money meaning they make their money work
for them 24/7 I did a video titled how
to double your money this is the area
where they master on how to double their
money constantly over and over and again
money doesn’t sit for too long for them
and if it is it’s intentional because
they believe a downturn it’s coming
around the corner or they buy puts
because they believe the market is about
to go down
but money is always working for these
guys it doesn’t just sit around you know
allowing the bank to use that money to
make money they make that money work for
them number 9 Sam Walton at for kids you
know it’s poorest kid today is worth
thirty nine billion dollars struggling
financially
poorest kid today is worth thirty nine
billion dollars so is this something
where you know the media comes back and
politicians come out and say
it is not fair for a kid to get all the
money from his daddy or his mommy wait a
minute let me ask you this question if
your mom or your dad was worth 160
billion dollars would it be unfair if
she gave you 40 billion of it would you
be upset would you say mom it’s not fair
for you to give me 40 billion dollars
it’s always unfair if it’s the other
guy’s kid right why don’t we position
ourselves better so our kids get the
wealth because I watched a video the
other day
a guy was in you know southern part of
Chicago bad community was teaching all
these guys that are trying to make their
lives better he was teaching them the
fact that life insurance transfers well
to their families so rich people buy as
much life insurance as they can because
when they die their kids get ten million
dollars eight million out of six million
dollars five million dollars and the kid
has an opportunity and advantage against
everybody else that he’s competing
against what’s wrong with that they
understand wealth transfer this is why
you see families that become richer and
richer and richer because the world
keeps transferring to the next
generation over and over and over again
something everybody watching this can do
you just got to be intentional about it
and last but not least number ten I’ve
been talking about this wart in a lot of
videos lately whether it’s with Arthur
Laffer the former economist for Ronald
Reagan George Bush Jack Kim Arnold
Schwarzenegger eat all this topic a lot
whether it was with the mayor of Frisco
how they took the city from 5,000 people
back in 1990-1991 to 180,000 people or
whether it was Jerry Springer or Dennis
Prager we talked about this topic and
that is taxes I’m gonna keep talking
about taxes until you pay attention to
taxes because it’s a big difference let
me explain to you in the state of
California if you got a million dollar
bonus they tax you at 50% half a million
is gone if your Realtor you make a
million dollars in the state of
California as a Realtor they take thirty
five percent
you keep six fifty they take three
hundred fifty thousand dollars all of
these guys in Silicon Valley who say tax
everybody tax to people this is in this
is that all the stuff that they say
about raising taxes they only give tax
twenty-two percent because it’s capital
gains taxes is about positioning how you
position yourself to pay the lowest
amount of taxes possible to the realtor
in California that pays 35% guess what
if you were in Nevada you would have
saved yourself 13.3% if you were in
Texas if you were in Florida you would
have saved yourself thirteen
thirty percent was 13.3% on a million
dollars a hundred thirty three thousand
dollars over a ten-year period 1.3 three
million dollars how much is college
education say two hundred fifty grand
for the best schools you can have six
kids if you want then you can still
forward to sending to that best school
because of taxes they pay attention to
taxes and the rest of the world doesn’t
so before I ask you to question and see
if anybody is gonna get the answer right
and tweet me at Patrick mid David I’m
gonna give you two videos I want you to
watch as well one is 11 skills
millionaires master that’s a video you
must watch and the other one is how to
make a million dollar your income those
are two other videos I would watch that
has everything to do with today’s video
now having said that let’s see who’s
ready for the question I’m really
curious who’s gonna answer right off the
bat remember it’s not just commenting
below you got a tweet you got to tweet
me the right answer here’s a question
back in 1982 who was the richest man on
the Forbes 400 list tweet me the right
answer at Patrick mid David and the
first person I’m gonna call you will
have a 10-minute conversation together
today having said that if you haven’t
subscribed that a channel do so thanks
for watching everybody take care bye bye [Music]
the market today meaning if this person
is worth a thousand someone here’s a ten
thousand a hundred thousand a million a
billion if you added everybody’s wealth
up in America you would come out with a
number close to 90 trillion dollars that
is a total wealth of America and by the
way one percent of America controls
thirty six percent of that ten percent
of America controls seventy five percent
of that and today I’m going to talk to
you about ten reasons why the rich keep
getting richer so before I get into I’m
gonna do something I’ve never done
before and here’s what it is while I’m
going through this you ought to be
taking notes because in the middle of it
or at the end of it I’m gonna be asking
a question I don’t know what the
question is going to be the first person
that sends me a tweet at Patrick big
David the right answer I will be calling
you and will be able to tell me the
conversation today but it’s got to be
the first person so pay attention to
everything I’m going through in this
video so listen the topic of rich
getting richer is something you hear
about on CNN on Fox and MSNBC in schools
teachers professors parents business
everywhere these rich people they
control all the wealth they’re so greedy
they all they want is power cars or land
most Ferraris castles mansions I mean
how much more can you have why is Bezos
got a hundred and forty five billion
dollars he can live off of $100,000 your
income and then on the other side you
know hey this this is why the poor
doesn’t have money because they don’t
study in there don’t read books and why
don’t you pick up a business book and
find out how money works why do you
blame the rich why don’t you pick up
some of their habits that they have why
don’t you work more than 40 hours a week
and so this thing goes back and forth
right and so before I get into the ten
reasons why the rich keep getting richer
I want to give you some data I want to
give you some data for you to be looking
at and hopefully this will happen with
the argument because in mice in my
opinion I believe the gap of rich
getting richer is just gonna get wider
and wider and wider you’ll find a widest
as I go through some of these numbers so
if we were to take the top 1% richest
people in the world not America in the
world top 1% you would need to have
somewhere around 750 $3,000 to your name
now having said that data came out
breaking down which country has the most
people with 750 $3,000 to their name and
here’s what the top 10 countries looks
like at number 10
Korea has 1 million people with 750
$30,000 to their name
Canada 1.6 million Australia 1.7 million
italy 1.9 million china with 1.4 billion
people living there they only have 2.7
million
germany 2.8 million france 2.8 million
UK 3.3 million japan at number 2 with
4.5 million and you ready number one
america 19 point 1 million americans
have a minimum of 750 $30,000 to their
name which by the way here’s an
interesting stat if you take the rest of
the countries on the top 10 list and you
add them up they still don’t have as
many people that have 750 $30,000 to
their name as America does and so the
question becomes why is that by the way
most of the other countries run a
socialistic economy America still till
today runs a capitalistic economy which
gives the average guy like me to go out
there make money and hey all of a sudden
you have 750 three thousand dollars to
your name because the market allows
people who bring value to go get that
kind of money for themselves if our
wealth was divided based on US land
here’s what it would look like one
percent of America would own this part
of the land nine percent would own this
30 percent would own this on the bottom
20% would own that bottom part you see
like right there it looks like Texas and
40 percent of America would own that
little red dot you look at the bottom so
you know how you look at that red dot
that red dot my family my mother my
sister my dad we were a dot of the red
dot let me explain we came to America
with barely five thousand dollars toward
him I mean literally we were living with
family and then finally we found a place
to live that was one bedroom we had
nothing to our name we didn’t own a car
we had nothing I walked to school every
single day from Broadway all the way up
Chevy Chase to Wilson junior high school
because nobody dropped us off
everybody’s kids their parents would
drop us off I never got AB matter of
fact I’ve never been dropped off to
school let me say this again I’ve never
been dropped off to school in America
ever from seventh grade on I’ve never
been dropped off to school
we didn’t
that kind of money and so I worked at
Burger King I worked at Bob’s but I
worked at Hagen there’s that one to the
military I had one point a GPA I stayed
in the army I was gonna say 20 years I
got out a friend call me hey come and
try something that I got into sales and
I’m looking at all these things I see
these nice cars on movies with Tom
Cruise and they’re stealing this Ferrari
I’m watching you know Gordon Gekko but
box and all these cars and these homes
and men what if one day we can live in a
big house what if one day we can have a
Ferrari or Lamborghini in all this other
stuff and there’d be two different sides
friends at by the way in a military out
of barracks one group would say well you
know these rich people men they’re
greedy they abuse a system they do this
they do that they do this and this other
side there was a group of us me Bradford
a couple of us yeah but what if we could
do this well who cares we should go do
this one we were dreaming right we were
dreaming what if this could take place I
realize the big 1% of America the top 1%
of America they’re curious they want to
find out how to get there so just like I
said earlier that the gap is gonna get
wider and wider I am Telling You that 90
trillion dollars very soon is gonna be
200 trillion dollars 500 trillion
dollars and the only question you got to
be asking yourself in the next 5 10 15
20 years what piece say that’s gonna be
yours you’ll see why I’m saying this as
I go through these 10 points point
number one is exponential growth by the
way this point a lot is the reason why
the gaps gonna get wider and wider and
wider
you can skip everything else this one
point along I’ve talked about in another
video called 20 rules of money this is
why the gaps gonna keep getting wider
and wider and wider look very simple say
I have ten thousand dollars say you have
ten thousand dollars okay
we are both 25 years old both of us have
ten thousand dollars I choose to put my
ten thousand dollars in an account that
gives me three percent you choose to put
ten thousand dollars in an account that
gives you twelve percent it’s only four
times more so meaning whatever you get
you should only be four times more than
I should be right so let’s take a look
at what our money looks like twenty four
years later
twenty four years later my ten thousand
dollars
barely becomes twenty thousand dollars
you ready your ten thousand dollars is
officially a hundred and sixty thousand
dollars that’s eight times more even
though the interest is four times more
now let’s continue to go forty eight
years and see what happens
twenty four years after that my twenty
thousand becomes forty thousand
you ready to see what happens $260,000
it is now two point five six million
dollars that’s two point five two
million dollars more than me by the way
let me say this number so I was getting
three percent you’re getting twelve
percent you’re already getting four
times more interest than I am you
realize how much your money is gonna be
more than mine by forty eight years from
now sixty-four times more money
sixty-four times more money so think
about it this way if I continue with the
same habit of getting three percent for
another twenty four years look what
happens and another twenty four years
for what happens and another twenty this
why the rich keeps getting richer so
unless education in the high schools and
junior high schools and colleges change
and start teaching these kids about the
basics of money the disparity ain’t
stopping and there is nothing anybody
can do about it including CNN MSNBC and
half the professors at these
universities because they keep bitching
about this stuff but no one’s talking
about money no one is talking about let
me teach you how to get 12% let me teach
you how to get 8% everybody’s just
complaining whining without any
solutions point number two this one’s
very easy its positioning once you get
out of college once you get out of high
school you have a choice on what you
wanted you can go get a regular job you
change your you trade your work for
hours I make fifteen bucks an hour
twenty bucks an hour thirty dollars an
hour and that’s fine and a lot of
America is just chasing that there will
pay me sixteen dollars she guess what I
got I got twenty two dollars here and
there will pay me twenty two I’ve got a
better job and I put on making twenty
four year I was making twenty five 1932
they’re chasing this right and what they
don’t realize is that’s not how you
create wealth there’s got to be an
element of you saying I know for a fact
if I position myself here and if I can
become an entrepreneur or if I can get
equity or if I can get ownership and how
do I get that part this can lead them to
something bigger for myself that’s why I
say positioning if you keep trading
hours for a dollar that you’re getting
paid you’re gonna be limited there’s got
to be a part where you go out and
position yourself properly I’ve said
this story many times
I live in wealthy communities and in
these wealthy communities everybody I
talked to I asked him how did you make
your money you know I made my money
because I started a business great I
made my money because I was part of a
startup and guess what happened to this
startup I was there for five years I
ended up getting piece the company five
years later the company was bought by
this company four billion dollars I got
my six million dollars I got my
$100,000 I got my 2.2 million dollars
it’s positioning so wherever you’re
working at ask yourself the positioning
of the environment you’re in is it can’t
see going out with there’s a possibility
for bigger upside or is it linear hurry
up and change it and if you choose not
to change it then don’t be surprised if
you don’t have 750 $30,000 because you
chose the position you’re currently in
what number three is long-term thinking
the best example of long-term thinking
is one of the richest men in the world
and that’s Warren Buffett I want you to
look at this chart that I’m gonna put up
and the part I want to look at is how
his wealth grew from 18 years old to his
81 billion dollars today that doesn’t
include the billions of dollars that
he’s given away to charity so let’s take
a look at this guy named Warren Buffett
one of the richest wisest smartest
investors in the world how did you amass
as well so at the age of 19 he had
$10,000 to his name the first million
dollars he made he was 32 years old give
or take fast forward to the age of 40
years old you’ll notice he had a thirty
four million dollar net worth right now
watch what happens here from 34 million
dollars the next year or two it goes
from 34 million dollars to 19 million
dollars I think as much as we spend time
talking about how rich this man is we
forget to talk about this moment in his
career let me explain to you why do you
know how many people in the world when
they drop on 34 million to 19 million
dollars that’s 50% of the waters gone
what do you think most people do they
cash out they take their money out they
listen to news the news the same world
you know it’s the world’s coming to an
end war is coming through you know this
is what’s gonna happen that’s what’s
gonna happen price of oil oh my gosh
panic panic panic panic panic everyone
reacts this guy says I trust my
discipline because I’m a long-term
thinker and watch what happens here he
goes from 19 million dollars to 67
million dollars two billion dollars at
fifty six to eighty 1 billion dollars
today let me compare his net worth to
some of the countries in the world watch
this year Guatemala he’s got more than
Guatemala Costa Rica Luxembourg Slovenia
Serbia Tunisia Ghana or Gua Kenya
Ethiopia Lebanon Bulgaria boos Pakistan
Croatia
Lithuania Warren Buffett is beating
those countries one human being is
beating countries I wanted to go back to
Forbes 400 list
back in 1982 when it first got started
here’s what it looked like so the total
net worth back in 1982 a Forbes 400 was
93 billion dollars they you took all the
400 added it up it was 93 billion
dollars and the richest man on that list
Daniel Keith Ludwig he had a net worth
of two billion dollars by the way here’s
the kicker you ready Daniel Ludwig
wouldn’t be on today’s Forbes 400 list
and out of the 400 names back in 1982
only 36 names are still on the list
today 35 years later so now let’s take a
look at what the total net worth of
today’s Forbes 400 is you ready from 93
billion dollars to today 2.5 trillion
dollars that’s five doubles not not just
500% that’s five doubles 93 billion
times 2 times 2 times 2 times 2 it gives
you 2.5 trillion dollars which tells us
35 years from now by 2050 3 the Forbes
400 list total net worth is going to be
80 trillion dollars so the only thing
you ought to be thinking about is the
following thing if 35 years from now
that numbers gonna be 80 trillion what
piece of that 80 trillion is gonna be
yours what piece because think about it
if that 80 trillion is only 400 people
in America what do you think the entire
net worth the entire wealth of America
330 million people is gonna be in the
next 35 years you know how big the
opportunity is for the right person
watching this if you listen to point
number three and you say look
exponential growth was number one got it
positioning was number two got it
long-term thinking was number three got
if you turn off the video today you
didn’t watch the rest those three
principles is what makes these guys the
kind of money that they make so can you
really think long-term or immediately
something that goes wrong to disappear
and you go panic and you go back to your
corners oh my gosh I can believe this is
happening to me but for those of you
that are watching this that are saying
I’m gonna be disciplined to be a
long-term thinker you’re gonna put up
numbers experience certain things in
life that you thought were fantasies but
it’s gonna happen to a few of you number
four this one I’m not gonna spend a lot
of time on because it’s very
self-explanatory regrets minimization
I’ve spoken about in a couple other
videos minimize the number of regret
when you look back you don’t want to be
able to say I messed up here with drugs
I did this year I did the divorce I did
that oh my gosh I got it so many dumb
mistakes I made that you could have
prevented yourself on making it for some
of you that are saying I feel bad
because I just went through divorce
three years later you make me feel bad
our current president is on a third
marriage you’re okay just minimize the
amount of regrets that you’re gonna have
because it doesn’t stunt the momentum
that you have your best friend and
accumulating wealth as momentum don’t
get in the way of momentum water it sure
gets bigger and bigger and bigger number
five specialized skill very simple
most people generalize this is
specialized skill you got to figure out
something that you specialize in what is
it communication selling finance real
estate hedge fund stocks bonds what do
you specialize in specialize in a skill
most of the guys that we talk about they
specialize in a skill warm buff and
investing Trump wealth real estate you
know you look at Zuckerberg social media
he understand the concept of the
Internet you understand what he’s doing
with that everybody has something they
specialize in what’s your specialization
number six anybody can learn this
concept here and it’s concept here is
your contact networking look I can take
my business back to 1999 when I went to
a man’s house it was a millionaire and
he had a big party and I made a lot of
relationships after the relationship two
years later he introduced me to a guy
that introduced me to a guy in 2003 that
contact is what led me to making thirty
million dollars just off of one sale you
know I went to an insurance conference a
few years ago met a guy we didn’t hit it
off we had a terrible call together one
time I’m talking a 5-minute call that
was horrible horrible call I said we’ll
never do business with this guy he came
back saying I still want your business
what can we do to make this work we made
it work fast forward he’s the one that
ended up putting me in contact with De
La Hoya and couple other guys that
raised ten million dollars for business
these were contacts we networked we went
through it look at Zuckerberg he goes to
Harvard meets a kid named Edward meets
the Winklevoss brothers that leads to
Facebook you look at Warren Buffett who
networks and meets a guy named Charlie
Munger who he thinks is smarter than he
is and that bring those two together
build the empire that they built
everything’s about networking in your
context especially if you want to
increase your wealth let me put it to
you this way it is very difficult for
billionaire to befriend somebody that’s
for $20,000 very
you know why because the experiences are
different and level of thinking is
different if you hang with a billionaire
you’re twenty thousand dollars somehow
some way is gonna get hired somehow
someway this thing gets hard because
you’re borrowing they’re thinking you’re
borrowing who they know you’re borrowing
their association so if networking is an
area you struggle with I made a video
titled how to network like Casanova go
click on a link below and watch that
video how to network like Casanova
number seven leverage everybody watching
is leverages other people let me explain
to what I mean by this a father watching
TV or football on a Sunday leverages Sun
as a Sun get me a beer that’s leverage a
person who goes to restaurant and sits
to have food with another friend
leverages the waiter or the waitress and
says can you please give me a diet coke
and a bone-in rib eye and lobster mac
and cheese and that’s for me thank you
so much you leverage the waiter or the
waitress and in return for the leverage
you pay 20 points 20 percent of the bill
to that waitress that’s leverage
everybody leverages except the wealthy
and the rich do it at the highest levels
let me explain to you you can only work
20 hours in a day the hardest-working
person in the world is limited to 24
hours in the day you can’t work more
than 24 hours in a day but they realize
if you really want to leverage time if I
want to work 2,000 hours in a day I need
250 people who work 8 hours in a day
it’s basic math 20,000 hours in a day I
need 2,500 employees
200,000 hours in a day I need 25,000
employees and they keep leveraging over
and over and over and over again and it
gives them an unfair advantage over
everybody else however there’s not a
single person watching this that can’t
apply the concept idea because you’re
already doing it at the lower level why
not do it at a higher level number 8
this next one is about reinvesting their
money meaning they make their money work
for them 24/7 I did a video titled how
to double your money this is the area
where they master on how to double their
money constantly over and over and again
money doesn’t sit for too long for them
and if it is it’s intentional because
they believe a downturn it’s coming
around the corner or they buy puts
because they believe the market is about
to go down
but money is always working for these
guys it doesn’t just sit around you know
allowing the bank to use that money to
make money they make that money work for
them number 9 Sam Walton at for kids you
know it’s poorest kid today is worth
thirty nine billion dollars struggling
financially
poorest kid today is worth thirty nine
billion dollars so is this something
where you know the media comes back and
politicians come out and say
it is not fair for a kid to get all the
money from his daddy or his mommy wait a
minute let me ask you this question if
your mom or your dad was worth 160
billion dollars would it be unfair if
she gave you 40 billion of it would you
be upset would you say mom it’s not fair
for you to give me 40 billion dollars
it’s always unfair if it’s the other
guy’s kid right why don’t we position
ourselves better so our kids get the
wealth because I watched a video the
other day
a guy was in you know southern part of
Chicago bad community was teaching all
these guys that are trying to make their
lives better he was teaching them the
fact that life insurance transfers well
to their families so rich people buy as
much life insurance as they can because
when they die their kids get ten million
dollars eight million out of six million
dollars five million dollars and the kid
has an opportunity and advantage against
everybody else that he’s competing
against what’s wrong with that they
understand wealth transfer this is why
you see families that become richer and
richer and richer because the world
keeps transferring to the next
generation over and over and over again
something everybody watching this can do
you just got to be intentional about it
and last but not least number ten I’ve
been talking about this wart in a lot of
videos lately whether it’s with Arthur
Laffer the former economist for Ronald
Reagan George Bush Jack Kim Arnold
Schwarzenegger eat all this topic a lot
whether it was with the mayor of Frisco
how they took the city from 5,000 people
back in 1990-1991 to 180,000 people or
whether it was Jerry Springer or Dennis
Prager we talked about this topic and
that is taxes I’m gonna keep talking
about taxes until you pay attention to
taxes because it’s a big difference let
me explain to you in the state of
California if you got a million dollar
bonus they tax you at 50% half a million
is gone if your Realtor you make a
million dollars in the state of
California as a Realtor they take thirty
five percent
you keep six fifty they take three
hundred fifty thousand dollars all of
these guys in Silicon Valley who say tax
everybody tax to people this is in this
is that all the stuff that they say
about raising taxes they only give tax
twenty-two percent because it’s capital
gains taxes is about positioning how you
position yourself to pay the lowest
amount of taxes possible to the realtor
in California that pays 35% guess what
if you were in Nevada you would have
saved yourself 13.3% if you were in
Texas if you were in Florida you would
have saved yourself thirteen
thirty percent was 13.3% on a million
dollars a hundred thirty three thousand
dollars over a ten-year period 1.3 three
million dollars how much is college
education say two hundred fifty grand
for the best schools you can have six
kids if you want then you can still
forward to sending to that best school
because of taxes they pay attention to
taxes and the rest of the world doesn’t
so before I ask you to question and see
if anybody is gonna get the answer right
and tweet me at Patrick mid David I’m
gonna give you two videos I want you to
watch as well one is 11 skills
millionaires master that’s a video you
must watch and the other one is how to
make a million dollar your income those
are two other videos I would watch that
has everything to do with today’s video
now having said that let’s see who’s
ready for the question I’m really
curious who’s gonna answer right off the
bat remember it’s not just commenting
below you got a tweet you got to tweet
me the right answer here’s a question
back in 1982 who was the richest man on
the Forbes 400 list tweet me the right
answer at Patrick mid David and the
first person I’m gonna call you will
have a 10-minute conversation together
today having said that if you haven’t
subscribed that a channel do so thanks
for watching everybody take care bye bye [Music]
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