but the shelf told me when I was 25 and
first met him he said mr. Owen in my
personal opinion financial independence
is a worthy goal now he really said that
for a reason because a lot of people are
having problems with financial
independence simply because they have
some moral issues really confused in
their minds about the value of money or
the danger of money or having too much
money or that the true values of life
are not wrapped up in money so money
really doesn’t matter that much and some
people have some problems in this area
and I’ll admit I had something when I
first started making more money in one
month and my father made in one year I
was at first I was very disturbed by
that and guess what for a long time I
wouldn’t even tell my parents I didn’t
tell him I said what are they gonna
think I’d make more money in one month
than my father makes in one year how can
I tell him and I was really confused
about that I was really bothered by that
for quite a while I think was several
months no because here’s when it ended I
finally worked up the courage to tell
him how I was doing I can’t remember not
just how I put it I was just trying to
figure out some way to put it right to
break the news to him so you know
wouldn’t be you know too great a shock
when I told him what I was doing and
what was happening or what was going on
they were just incredibly delighted they
were terribly happy terribly excited and
I discovered that I’ve worried and been
bothered all those months for nothing
because I had this in my mind how am I
gonna justify how am I gonna you know
work this whole thing out
how are they gonna feel and sure enough
I had just conjured all the stuff up in
my mind and it really was not real but
some people really have some problems on
financial independence because they feel
that the morality of earning lots of
money is is a very valid question
every once in a while someone after my
next seminar said yeah I think you talk
too much about money success and that’s
not where the good life is the good life
is not just money and success and making
a lot of money and doing well
financially and I understand that I
really do and I have pondered those
subjects all these years and I don’t
want it to make it seem like just going
for money or financial success is where
the true values are they are not and
hopefully in life seminar I’ve got
enough in there to try not to mislead
people that I’m just thinking of
financial success but so much a shelf
said to me in my opinion financial
independence is a worthwhile objective
he said his wife he said Jim once you
get money out of the way you can’t
believe the other dimensions of your
life you can work on it once you solve
the money problem
he said now you’ll have the time more
time to work on certain other projects
of your life that will really start to
grow and expand so he said for that
reason I think financial independence is
the worthwhile objective and I know part
of its a moral question there is a Bible
phrase that says the love of money is
the root of all evil but I’m sure the
phrase is probably more correct in
saying the love of money the love of
money now when I did start getting some
of those big big bonus checks way back
in those early days my first crack at
running right I wasn’t too worried about
you know whether or not I was gonna ruin
me
one of my friends right his wealthy
friend when he started making a lot of
big money said Robert I don’t know if I
should give you all this big money or
not said you know money’s ruined a lot
of people and Robert said just tried me
one time 97 let’s just see so we’re all
willing to go through it I’m sure that
first time but I know it is a moral
question sometimes it’s something you
just have to wrestle with but here’s
what I found out financial independence
is not something you have to throw away
all other values to acquire you don’t
have to throw them all right now you
could and that would be foolish if
there’s half a dozen major valid using
your threw away five to go for one see
that it would be foolish but in my
opinion you really don’t have to but now
in the moral question for those who
press me a little bit about talking too
much about running and finance being
successful I have another question in
response sharpening up my debating
skills and here’s my quick if you could
do better should you that’s pretty good
on my side of the debate right if you
could do better should you sometimes
people use the moral question as an
excuse to be lazy and not to improve
then on the other side part of it is
just the challenge to see what you can
become regardless of what the amount is
a man said to me one time well mr. owner
I’m making about $50,000 a year isn’t
that enough and I said yes it’s enough
if you’re bumping your full potential
but if you’re capable of half a million
dollars a year you’re somewhat of a
loser see it’s not the amount that
counts it’s the extent of your reach
that counts that’s what we want to do
employ the full extent of our reach
whatever that amount turns out to be if
it’s 5,000 a year wonderful of that if
you’re really extending yourself
economically
doing the best you can and those numbers
turn out to be 5000 wonderful if it’s
50,000 wonderful if they half a million
wonderful as long as you’re extending
yourself your mental personal capacity
to its limit whatever those amounts are
those are the amount because mr. chef
had this simple simple philosophy how
far should you go answer as far as you
can how much did you learn as much as
you can how many books did you read as
many as you can
how much should you earn as much as you
can
how much did you share as much as you
can what should you accomplish as much
as you can that’s a good philosophy what
could I do in compression to what I am
doing what could I do to extend my reach
am i fully employed good question and I
think that’s the answer to some of the
moral question if you’re properly using
your 8 hours and you’re extending
yourself and you’re doing your best
whatever that amount is that’s that’s
the amount but financial independence is
a worthwhile goal if you can finally set
money aside as being such a major object
in trying to accomplish and paying the
bills and mr. shop said to me mr. Owen I
think the only way to get the money out
of the way is to add plenty so I went
for that here’s what also I found out
the time you’ve already set aside for
labor is enough time to become wealthy
if you’re working 810 hours a day that’s
about it you can’t put in more than
about 8 or 10 but see if you better
utilize that 8 or 10 and you double
triple quadruple your income see that
would be ok just better utilization of
the time you’re already spending
laboring just a better use of it now see
if you start throwing your health away
by going for the money in working 20
hours a day and sliding all your friends
and walking away from your family see
now you
all the other values to go for one and
that would be in my opinion
shortchanging yourself but financial
independence let me give you just a few
clues on financial independence because
part of it depends on the plan you have
it isn’t necessarily how hard you work
or whatever else you sacrifice to go for
it
you really don’t have to do that most of
us live long enough and especially in
this country of unique prosperity we
have chances enough to fairly quickly
before too long solve the money problems
of our life one of the major reasons why
most people don’t is because they’re
operating on the wrong plan and here’s
the key it’s not so much what you earn
as what you do with what you earn it’s
not so much what you earn as what you do
with what you were I think according to
the latest figures the average person in
this country now in a working lifetime
makes half a million dollars an average
in a working life the question is at the
end of the working lifetime where is it
now see some people got it and some
people haven’t got it right
they’ve both earned it but they both
didn’t keep it and part of it is just
simply operating on the wrong plan for
financial independence here’s a good
book to get to start giving you some
ideas it’s called the richest man in
Babylon the richest man in Babylon by
claisen George claisen
it’s good look to start with on
financial independence neat little story
give you some great ideas here’s the
theme of the book the richest men in
battler learn to live on 70% of your net
income this is just a suggestion plan
learn to live on 70% of your net income
now net simply means after taxes because
that’s the only money you get to see
anyway right Jesus master teacher said
pay caesar first and in this country
caesar takes it before we ever see it
right so Caesar gets paid but that those
were the instructions pay caesar first
okay give Caesar what belongs to Caesar
in translating this into kids language
we call it the care and feeding of the
goose that lays the golden egg
everybody’s got to be taught the care
and feeding of the goose that lays the
golden eggs you don’t tear up the goose
and divide it up guys that got me hen
full of feathers no somebody else’s that
got me a wings oh no poor goose all
right we won’t have a goose very long
you must care and feed the goose that
lays the golden eggs let me say well the
goose eats too much well that may be
true maybe we all pay a little too much
in taxes I’m sure right the president is
trying to get through the Congress some
way to reduce our taxes so the goose
won’t eat too much and I every goose has
an inclination to eat too much right
that the government spends too much
money the goose is overweight I
understand that but we’re all a little
over right everything by longevity tends
to get off course everything everything
needs to be corrected and that’s just
part of life the longer something goes
the more tendency it is to eat a little
too much indulge a little too much try
to gather up a little too much power you
know that’s just natural right and the
government’s the same way right you hire
somebody to be a servant in your house
now they want to take over you say no I
hired you to take out the trash
not to run the handoff but churn up my
longevity right people just gather up
gather up gather up you know more power
and whatever and then it’s got to be
corrected put back in place put back in
place everything needs to be corrected
our diets our lives our friendships
marriage everything tends to get off
course goes along pretty good and starts
to drip got to bring it back starts to
drip bring it back to catch the drift
that’s just part of life so the goose
does overeat I understand that and
perhaps you know we do pay too many
taxes and the government does you know
spend them some of our running a bit
recklessly I understand that but see
Jesus did say you’ve got to take care of
Caesar as part of Caesar the
responsibility is to be the goose that
lays the golden eggs we do have to have
a society we do have to have a
government or you have no market okay
and among the governments of the world
we do have to protect ourselves then
somebody’s got to pay for the radar
and the polar Asst submarine and the
b-52 and the missile somebody’s got to
pay see I don’t mind picking up my share
of the radar you know and hire somebody
to watch it and make sure they stay over
there you got to do that so you got to
care and feed the goose mr. chef taught
me to be a happy taxpayer now that was a
whole new thing for me
be a happy taxpayer not a reluctant
taxpayer okay you got to care and feed
the goose and in this country of course
you know first a portion of our incomes
maybe it’s a little too much but pay it
happily anyway you know maybe they’ll
straighten it out and it’ll calm down a
little bit or whatever just pay it
gladly to know that we got to have the
army in the Navy in the Air Force and
the submarines and the battleships we
got to have a show of strength we’ve got
to be a leader among the free world we
really do and all that got to be paid
for so I don’t mind picking up my share
and everybody often pay their share in
my personal opinion the poorest of the
poor ought to pay federal income taxes
if it’s only $1 a year so they have the
sense of contributing to the care and
feeding of the goose instead of just
taking they also contribute at least a
dollar a year the poorest of the poor so
that they have a sense of helping to pay
for the safety and the security of the
country to see what our president may be
an Army and Air Force and the
governmental structure and what safety
we do have around the world keeps us
here secure in our homes right where we
can work and enjoy each other’s you know
commerce possibilities trade goods and
services and make money enjoy ourselves
and have a party
now somebody’s willing to do all that
out there while we’re here having fun
making money having parties I don’t mind
picking up my share too Sam okay so
Cesar’s first pay Caesar first then what
you got left after Caesar needs to be
divided up and the book the richest man
in Babylon gives you some suggestions on
how to divide up your money and where to
put it so that you’ll have a good plan
everybody needs a financial plan because
here’s how you surely wind up bro
spend all you make so you just wind up
broke now in those early days way back
there I spent more than me that’s why
I’m making it down to budget
all right Nance to finance the deficit
in my spending okay some suggestions on
what to do with what the money you’ve
got left now after taxes one is learn to
be enterprising profits are better than
wages everybody should turn part of
their income even if it’s from wages
into capital and become a capitalist the
healthier the country becomes is going
to be a result of more and more people
becoming capitalists
not just letting big big business be the
capitalists now communism teaches that
all capital should be in the hands of
the state and should we should take it
out of the hands of the individuals
because they’re too dumb and stupid to
know what to do with it all we want them
to do is just show up and do their work
and go home and behave themselves stay
out of trouble and we will take care of
the capital of the government now see in
this country we don’t believe that
communism teaches everybody should blend
into the master the glory of the state
and we all say heck with that the state
is the servant and all glory to the
individual that’s what we believe in
capitalism take the capital and divided
up among all the people and let the
people start a business and start this
thing going with Commerce and
interchange of goods
services and you will create a dynamic
society unprecedented in the history of
the world and we’ve proven that that’s
true but see communism says give the
state all the capital and we don’t
believe that we believe that everybody
ought to be capitalist use it in their
own way don’t think of things the state
can’t think of and they’ll react much
quicker than the state will right the
state should always two three four years
late government always late and they
always spend too much money right
capital ought to be in the hands of the
individuals now if you don’t use capital
and become a capitalist and you don’t
and you don’t and you don’t and
everybody doesn’t pretty soon guess what
now the capital will all start going
toward the state because the society has
to survive okay now these are just some
of my personal opinions
I’ve been Tyler rose right I don’t even
claim they’re right I just claim they’re
my opinions sort of that way I’m off the
hook but anyway be a capitalist make
sure you’ve turned part of your income
into capital and so you can teach kids
how to be enterprising and capitalist
from the time they’re little just little
kids you teach them on how to have two
bicycles one to ride and one to rent to
earn worthy okay and teach kids how to
earn money not just get a job teach them
how to be enterprising teach them how to
sell one of the best ways to learn about
life is just get out of the sell
something and little kids can sell teach
him how to buy a bottle of soap for two
dollars and sell it for three back down
the street your markets next door you
don’t have to go very far
teach kids out and knock on doors they
miss bound I got this soap it’s the
finest in the world teach them how to do
that and then teach them all the
advantages of being a kid some people
buy from me just cuz you’re level they
will it’s an advantage and the littler
the better so you teach them how to be
little
and you’ve got to hurry because you
won’t be little forever right get out
there and take advantage rights a little
kid knocks on the door and says mr.
Brown I’ve got this soap it only costs
$3 and it’s the best there is and I’m
your neighbor
I can take care of you you should buy it
and beside them little Ms Brown says hey
I appreciate you coming by that’s really
nice I appreciate that but look I’ve
already got plenty of so little kid says
well let me come in and check the kids
don’t mind doing that right I mean
they’re they know how to overcome
objections you don’t need to give him
classes they’re incredible
now little kid makes a sales got $3 now
what you got to do is not only teach
them how to earn the $3.00 how to get
the $3.00 but I’m making a sale now you
got to teach them what to do with the
money now it’s very simple what to do
with two dollars right set it aside so
you can buy another bottle so kid says
life makes sense otherwise you’d be out
of business that right and I know some
adults are little short on that
information so you got to satisfy two
dollars kid says okay then I got a
dollar to spend say no no if you spend
that you’ll wind up like most people age
65 Brook and then take him to that part
of town where people are 65 and Brook
and show let him walk around the
neighborhood drive around and the kid
says well I don’t want to live like this
they find now here’s what you do it’s
your money
you just got to show sometimes you got
to go and touch and look and see what
you don’t want so that you’ll make
arrangements over here north they ever
be there or that no loot that movie they
came out with where they took the kids
to the jail’s scared-straight
let them visit with the prisoners right
and firsthand they looked around saw
these bars in the jail prisons talked to
some of the prisoners and firsthand got
somebody say whatever you do don’t come
here now that’s not some Minister saying
don’t go there that
the man saying don’t come here whatever
you do let me show you what it’s like
here’s what I have to sleep I can’t get
out I’ve got 15 more years to spend here
kids eyes get about this big saying I
don’t ever want to wind up here see
that’s good right and to teach us all we
just got the goal where it is where
people have had the wrong plan and
that’s sad right to look back and say I
picked up the wrong plan at age 20 look
where I am who talked me into this
clinic I bought the wrong point so then
the kid says okay what’ll I do with my
dollar say here’s what you do with your
dollar ten cents is for the increase of
capital and everybody ought to have the
same plan ten cents out of every dollar
should be for the increase of capital
now see the kid understands this right
away says well that’s true if you saved
up your dimes and could buy two bottles
of soap instead of war and you saved
yourself a trip
that’s right now not only do you save
yourself a trip some people will sell
you two bottles cheaper than one you buy
one bottle for two dollars they sell you
two bottles for three AED kids says how
clever then when you sell it you make
more money that’s eight that’s why
you’ve got to accumulate your capital
cuz everybody benefits from it they get
to sell two bottles instead of one at a
time so it’s better for them and it’s
better for you and it’s better for
everybody now you’re starting to teach
commerce capitalism how to earn money
how to be responsible and mainly what to
do with it
here’s another Kensit
another ten senses to give charity I
really should have put that first right
after Caesar Jesus said pay Caesar first
then pay God
Cherokee some churches teach 10% that’s
it like give it to the church and let
the church distribute it however or
distribute it yourself and whatever but
make sure you put back part of what you
take out charity some people are less
fortunate some people you know live
tragic lives and they need our help
so 10% set aside to help those that are
unfortunate cannot help themselves 10
cents for giving and a good time to
learn 10 cents for giving us when you’re
little because it’s pretty easy to flip
the dime out of the dollar what’s a
little more difficult is to give up
hundred thousand out of a million so
this is all if I had a million I’d give
up hundred thousand I’m not that sure
that’s a lot of money we better learn it
now just in case you know you get the
big stuff and we’ll turn this of it so
it develop the habit now if the tenth is
right kids should learn the first dollar
you get you should learn how to divide
it up because if you let a kid when he
gets his first dollar spend at all
you’ve already started them on the wrong
habit better now what if they do that
the rest of their life they will be in
serious trouble so you got the teaching
what to do with the first dollar the
first self or as quickly as possible
correct what might be wrong so 10 cents
for charity 10 cents for the increase of
capital and 10 more sentences for
investing now at first used that ten
cents think of the richest man in
Babylon says use 10 cents to pay off all
your bills which is good now you can
start using it for investing to pay off
all your bills first all a little
accumulation of credit cards and all
that stuff
there’s a Bible phrase that says the
borrower is servant for the lender and
as quickly as possible you don’t want to
be a servant anymore
what you want to be as the lender not a
borrower get on the other side of the
table as soon as you can the borrower is
servant to the lender now once you’ve
got all those little bills paid off just
cleaned up all the little bills
Arnold’s linoleum everything all that
stuff just clean all that up now you’ve
got some money to invest now here’s
where you should invest some of your
money in financial institutions so that
it provide a larger capital pool for
successful people to borrow and start
big businesses that you at first can’t
start build big factories and employ
lots of people there needs to be in a
collection of capital so that people can
borrow it guess what they will do when
they borrow your money pay you for the
use of it so you teach kids how to put
their money savings accounts financial
institutions in Australia not long ago
man said to me I’m recommending
everybody put their money in gold take
it out of all the banks I said then
you’ll bankrupt the country you can’t do
something to teach it to everybody else
it’s going to bankrupt the country you
can’t be totally self-protective you
must care and feed the goose that lays
the golden egg if you’re gonna drive on
the society streets and if you’re gonna
drive on a walk on society’s sidewalk
and indulge in society’s commerce and
good services in the community you’ve
got to do your share to care and feed
the goose you can’t grab beers and put
it in gold and hide it and put it in the
ground because if everybody did that we
would have no Society so you can’t teach
something that if everybody did would
wreck the whole thing he said well I
never thought about that I said that
Gogh is right now you must you must
think you must ponder what’s gonna help
all of societies and this is what I’m
gonna grab everything I got barricaded
myself go off to a cave in the mountains
and wait with the gun well if everybody
did that right then the world would be
over and God would have to start
over here which he’s done on occasion
but most people didn’t enjoy the process
so what’s gonna help everybody what’s
gonna help commerce wonder what can I do
on my part on taxes and my part on
savings and my part on helping financial
institutions that will build businesses
and employ more people and keep the
health of the country it’s going and
alive right you just have to think not
just about yourself right self thinking
is for the development of skill now we
need to think also outwards about what
can I do my part my ten cents my
percentage and you can teach this to
kids put your money in financial
institutions kids as well do you get it
back maybe sure you get it back they
borrow it for a while and give it back
to you and they also pay you interest on
it pay your money for using it kid says
how clever and then you give them the
blockbuster he says yeah but what do
they take kids and you give them the
good news
same rate as they pay adults now you can
start acting big because now number one
you are a lender instead of a borrower
and you’re getting paid as much as
adults even if you’re ten they pay you
the same percent it’s as well now then
you also have to teach kids how to be
happy taxpayers because kids become
taxpayers as soon as they spend money
they go down to the local store spend
fifty cents shopkeeper one foot out
three more spins kid there’s a sense
fifty cents here said it’s 53 cents you
got to give me three more sense kid says
work that for who get that money now at
age ten he’s a tax payer three cents
he’s got the coffer up out of his
hard-earned money he earned it till
did the shopkeeper says you got to give
me 3 cents it’s taxes little kids as
well I’m only can doesn’t matter at 10
you become a taxpayer now you’ve got to
teach kids how to be happy taxpayers and
what the three cents is for otherwise
they will be confused so you teach them
what the three sentences so you’ll see
the sidewalks on the street everybody
can’t make their portion of the street
you don’t have the equipment so what we
do is we all gather up this money from
all of us and we pay somebody to build
these streets in these sidewalks so you
have some to ride your bicycle on and
you can go places kid says well that
makes sense then here’s my three cents
I’ll make my contribution it’s part of
the care and feeding of the goose that
lays the golden eggs and then you also
teach kids C’s see the police car going
there you own that and the guy in a 20
year service service called public life
servant so at age 10 you got some
service service they can care keeping
the bullies away when you get in trouble
give a call see once kids understand
once people understand where the money
goes what’s it for make the happy
contribution divide up your money gladly
instead of reluctantly okay then you can
just change a lot of this inner turmoil
and you get more excited about
participating and doing your part and
learning skills and growing so that you
become an incredibly unique part of
society rather than a reluctant part and
a foot-dragging part and an unhappy part
and a miserable part and you do it with
animosity instead of joy you can imagine
what the complex of surprise be and how
it would change if everybody had those
feelings but if enough of us do they
will be able to affect all the others at
least in some measure what you do with
your money so now we’ve got 30 percent
set aside learn to live on 70
okay
Caesar first then God 10 pence rate
increase of capital 10 pence to invest
live on 70 now what you get doing
extremely well is you can even start
living on less and less and less because
the amount is more and more and more now
a few more tips on financial
independence and we’ll take our first
rate here they are number one if you
haven’t done it in a long time put
together a financial statement on
yourself the financial statement simply
is a piece of paper divided in half and
on one side is all a list of your assets
the value of your assets on the other
side of the paper is all that you owe
called liabilities then you subtract one
from the other and that now is called
your networks mr. chef acne have you put
together a financial statement recently
I said I never have put together one he
says well now’s the time to do it and I
wasn’t too happy about putting together
that first one that says well it’s not
gonna look that good he said it doesn’t
matter how it looked
you got to have one to get where you
want to go first of all you got to know
where you are they where in mind without
kidding anybody okay now this first
financial statement you don’t have to
publish it in a public record it’s for
your own private eyes to see but you got
to see where you are take a look now
when I put my first one together I had
no problem on the liability side I mean
that was long list budget finance oh
they were all on this money I’d borrowed
from her parents I mean it was all on it
right on the asset side though I really
started scraping the bottom of the
barrel I put the value of my shoes on
there but shoes there were ten bucks at
least
right I mean I’m scraping so I won’t
look so bad right
but anyway so if you putting together
your first one right you know whatever
you got to do make it look as good as
you can but also make sure it’s accurate
and make sure you take a good look at
where you are now then play this
financial independence program like a
game be delighted in reducing your
liability and increasing your asset
once I got the hang of this I started
putting together a financial statement
about every 30 days sometimes even less
if I knew the picture had changed quite
a bit
I drawn me up a new financial statement
so I could put away the old one here’s
my new one you just play it like a game
and then learn to be excited about
reducing your liabilities shell taught
me how to pay my bills with enthusiasm
now see that was a whole new thing for
me he said the next time you pay $100 on
an account on put a little note in there
and say look great exciting but I send
you this hundred dollars he says you
won’t believe what it’ll do on the other
end right
when they get that note but he says most
important of all you won’t believe what
it’ll do on your end now starting to
part with your money with wrist with
excitement with enthusiasm he started
changing my whole opinion about money
and about paying my bills and about
capital and learning to live with within
restricted limits it got me excited
about it and see a big part of what you
do with your plan is going to be your
attitude about it
so develop a whole new attitude about
your money remember it’s not the amount
that counts it’s the attitude and the
plan he got me to open up my first
savings account and he said go down
there with excitement and open it up
I’ve never had a savings again cycling
right there I don’t have any money to
open up a savings account he could have
you got $10 I said we I got $10 he said
then go get it open it’s not the amount
it’s the plan so I marched down to the
bank and opened up my first Savings
Account now that took a little bit I’m a
grown man and I said to the lady like
the way to tell me there’s debate but I
want to open up for a thing his account
she said fine what’s your name I said Mr
Rohn she said Mr Rohn just fill this out
I said okay so I filled it out I said
there it is
she looked it over and she picked that
fine she said that how we gonna get this
started
I
they put in you she said ten what I said
$10 now chef said be enthusiastic now
see I had trouble there I’m 25 I’m
married my family starting I’m working
and I’ve been to college
and I’m opening up my first dating
account with only $10 you know that was
tough but she’ll said swallow hard and
just go do it do it with excitement
because it’ll change it’s the plan that
counts not the amount what so I put the
$10 in I could hey this doesn’t look
like much but I said I tell you what
before long I will have the largest
statement account in this bank she said
well if you say so guess what
within less than two years I had the
largest savings account in that and in
less than two years shelf was right it
wasn’t the amount it was the attitude it
was my new plan I got excited about
rearranging my life putting it together
here’s a couple more keep strict okay
notes have you ever heard the expression
I don’t know where it all goes let me
give you probably one of the most
important phrases of the whole weekend
you’ve got to know where it all goes you
just got to know the Rockefeller boys
that their father grandfather made them
keep track of every penny they got in
where it went
it’s called habit you just got to know
where it’s going what’s happening get a
handle on it it’s part of how you become
financially independent because I found
out even early in the game when I was
making some pretty good money I found
you could make $5,000 a month and go
broke Sammy says how could you go broke
making 5,000 a month it’s easy spend six
thousand and nine months from Thursday
it’s over okay
if your outgo exceeds your income your
upkeep becomes your downfall you’ve
gotta know where it goes so keep strict
accounts now then when you can start
investing start a little business on the
side
do a little buying and selling if some
of the people just got incredibly
wealthy in this part of the country
right in real estate in the last 12 15
years unbelievable
be on the lookout for buying now
collective leaves for us you know in
doing business we have somebody who
specializes in looking for investment
but until you can afford that kind of
luxury where people can look and find
places you know to put your money to get
best advantage of making it useful as
well as making money
you just got to be sharp enough on your
own to do some buying do some selling
now so you can even teach kids how to
make proper investments what a kids
bought light bulbs three years ago and
just put them aside put them away wind
down the safe way and bought him and
brought him home put him under the bed
put him in the closet three years ago
what are they worth today two or three
times as much as they were three years
ago
how would you like to make that kind of
return on your money incredible kid says
lightbulbs I never thought about that
just buy some and set them aside by one
by ten by a dozen by a hundred save up
your money put it in lightbulbs set them
aside okay
three years later know you got some
lightbulbs to sell at an incredibly
inflated price tinsel yeah where do you
sell light bulb same people that are
buying your soap just right down the
street financial independence put your
plan together and get your family
excited about it get the kids excited
about it has them excited to get the
wife excited this is something that if
everybody works on if everybody has a
financial statement if everybody’s
knowing where it’s going and everybody
has a celebration every once in a while
when the assets are going up and the
liabilities are coming down and the net
worth is changing make it a source of
celebration right we’re among an
incredible group when comparing
financial tables I think the major guy
in our groups worth about 50 million so
you know he informed he becomes an
incredible incentive for the rest of us
it’s very familiar a known fact it’s
carrying that kind of heavy right gives
you something to shoot for
you’re look at the I’m looking pretty
good and then you see somebody else’s
financial things well I got a little
ways to go but anyway play it like a
game get excited about it develop the
skills and how to earn money thinking of
Enterprises investment developing more
skill so you can earn more money but
then have an incredibly excellent plan
on what to do with your money
and sure enough very quickly the first
year the second year the third year you
can’t believe the changes little stock
to be made and the major change of
course is in your own self confidence
and that’s where riches come from self
confidence it’s not the growing bank
account it’s your growing awareness that
you’re in charge you got a plan you’re
on track it’s changing because you
changed it it’s different because you
made it different it’s growing because
you made certain commitments to yourself
and those kind of feelings are where the
treasure is because the true treasure is
in personal development happiness is not
contained in what you get happiness is
contained in what you become but sure
enough what you become is related to
what you get so you can take a look at
what you’ve gotten and have great
satisfaction that you’re the one that
designed it you’re the one that defines
it
you just didn’t let it drift and drift
and get into trouble you made the
changes you made the hard decision so
for your own financial independence get
the book get some other books do some
reading make it a game play it have a
plan
change your attitude become a happy
taxpayer pay your bills with enthusiasm
put all this together and I’ll tell you
what it’ll start to change you won’t
believe okay
financial independence
you
first met him he said mr. Owen in my
personal opinion financial independence
is a worthy goal now he really said that
for a reason because a lot of people are
having problems with financial
independence simply because they have
some moral issues really confused in
their minds about the value of money or
the danger of money or having too much
money or that the true values of life
are not wrapped up in money so money
really doesn’t matter that much and some
people have some problems in this area
and I’ll admit I had something when I
first started making more money in one
month and my father made in one year I
was at first I was very disturbed by
that and guess what for a long time I
wouldn’t even tell my parents I didn’t
tell him I said what are they gonna
think I’d make more money in one month
than my father makes in one year how can
I tell him and I was really confused
about that I was really bothered by that
for quite a while I think was several
months no because here’s when it ended I
finally worked up the courage to tell
him how I was doing I can’t remember not
just how I put it I was just trying to
figure out some way to put it right to
break the news to him so you know
wouldn’t be you know too great a shock
when I told him what I was doing and
what was happening or what was going on
they were just incredibly delighted they
were terribly happy terribly excited and
I discovered that I’ve worried and been
bothered all those months for nothing
because I had this in my mind how am I
gonna justify how am I gonna you know
work this whole thing out
how are they gonna feel and sure enough
I had just conjured all the stuff up in
my mind and it really was not real but
some people really have some problems on
financial independence because they feel
that the morality of earning lots of
money is is a very valid question
every once in a while someone after my
next seminar said yeah I think you talk
too much about money success and that’s
not where the good life is the good life
is not just money and success and making
a lot of money and doing well
financially and I understand that I
really do and I have pondered those
subjects all these years and I don’t
want it to make it seem like just going
for money or financial success is where
the true values are they are not and
hopefully in life seminar I’ve got
enough in there to try not to mislead
people that I’m just thinking of
financial success but so much a shelf
said to me in my opinion financial
independence is a worthwhile objective
he said his wife he said Jim once you
get money out of the way you can’t
believe the other dimensions of your
life you can work on it once you solve
the money problem
he said now you’ll have the time more
time to work on certain other projects
of your life that will really start to
grow and expand so he said for that
reason I think financial independence is
the worthwhile objective and I know part
of its a moral question there is a Bible
phrase that says the love of money is
the root of all evil but I’m sure the
phrase is probably more correct in
saying the love of money the love of
money now when I did start getting some
of those big big bonus checks way back
in those early days my first crack at
running right I wasn’t too worried about
you know whether or not I was gonna ruin
me
one of my friends right his wealthy
friend when he started making a lot of
big money said Robert I don’t know if I
should give you all this big money or
not said you know money’s ruined a lot
of people and Robert said just tried me
one time 97 let’s just see so we’re all
willing to go through it I’m sure that
first time but I know it is a moral
question sometimes it’s something you
just have to wrestle with but here’s
what I found out financial independence
is not something you have to throw away
all other values to acquire you don’t
have to throw them all right now you
could and that would be foolish if
there’s half a dozen major valid using
your threw away five to go for one see
that it would be foolish but in my
opinion you really don’t have to but now
in the moral question for those who
press me a little bit about talking too
much about running and finance being
successful I have another question in
response sharpening up my debating
skills and here’s my quick if you could
do better should you that’s pretty good
on my side of the debate right if you
could do better should you sometimes
people use the moral question as an
excuse to be lazy and not to improve
then on the other side part of it is
just the challenge to see what you can
become regardless of what the amount is
a man said to me one time well mr. owner
I’m making about $50,000 a year isn’t
that enough and I said yes it’s enough
if you’re bumping your full potential
but if you’re capable of half a million
dollars a year you’re somewhat of a
loser see it’s not the amount that
counts it’s the extent of your reach
that counts that’s what we want to do
employ the full extent of our reach
whatever that amount turns out to be if
it’s 5,000 a year wonderful of that if
you’re really extending yourself
economically
doing the best you can and those numbers
turn out to be 5000 wonderful if it’s
50,000 wonderful if they half a million
wonderful as long as you’re extending
yourself your mental personal capacity
to its limit whatever those amounts are
those are the amount because mr. chef
had this simple simple philosophy how
far should you go answer as far as you
can how much did you learn as much as
you can how many books did you read as
many as you can
how much should you earn as much as you
can
how much did you share as much as you
can what should you accomplish as much
as you can that’s a good philosophy what
could I do in compression to what I am
doing what could I do to extend my reach
am i fully employed good question and I
think that’s the answer to some of the
moral question if you’re properly using
your 8 hours and you’re extending
yourself and you’re doing your best
whatever that amount is that’s that’s
the amount but financial independence is
a worthwhile goal if you can finally set
money aside as being such a major object
in trying to accomplish and paying the
bills and mr. shop said to me mr. Owen I
think the only way to get the money out
of the way is to add plenty so I went
for that here’s what also I found out
the time you’ve already set aside for
labor is enough time to become wealthy
if you’re working 810 hours a day that’s
about it you can’t put in more than
about 8 or 10 but see if you better
utilize that 8 or 10 and you double
triple quadruple your income see that
would be ok just better utilization of
the time you’re already spending
laboring just a better use of it now see
if you start throwing your health away
by going for the money in working 20
hours a day and sliding all your friends
and walking away from your family see
now you
all the other values to go for one and
that would be in my opinion
shortchanging yourself but financial
independence let me give you just a few
clues on financial independence because
part of it depends on the plan you have
it isn’t necessarily how hard you work
or whatever else you sacrifice to go for
it
you really don’t have to do that most of
us live long enough and especially in
this country of unique prosperity we
have chances enough to fairly quickly
before too long solve the money problems
of our life one of the major reasons why
most people don’t is because they’re
operating on the wrong plan and here’s
the key it’s not so much what you earn
as what you do with what you earn it’s
not so much what you earn as what you do
with what you were I think according to
the latest figures the average person in
this country now in a working lifetime
makes half a million dollars an average
in a working life the question is at the
end of the working lifetime where is it
now see some people got it and some
people haven’t got it right
they’ve both earned it but they both
didn’t keep it and part of it is just
simply operating on the wrong plan for
financial independence here’s a good
book to get to start giving you some
ideas it’s called the richest man in
Babylon the richest man in Babylon by
claisen George claisen
it’s good look to start with on
financial independence neat little story
give you some great ideas here’s the
theme of the book the richest men in
battler learn to live on 70% of your net
income this is just a suggestion plan
learn to live on 70% of your net income
now net simply means after taxes because
that’s the only money you get to see
anyway right Jesus master teacher said
pay caesar first and in this country
caesar takes it before we ever see it
right so Caesar gets paid but that those
were the instructions pay caesar first
okay give Caesar what belongs to Caesar
in translating this into kids language
we call it the care and feeding of the
goose that lays the golden egg
everybody’s got to be taught the care
and feeding of the goose that lays the
golden eggs you don’t tear up the goose
and divide it up guys that got me hen
full of feathers no somebody else’s that
got me a wings oh no poor goose all
right we won’t have a goose very long
you must care and feed the goose that
lays the golden eggs let me say well the
goose eats too much well that may be
true maybe we all pay a little too much
in taxes I’m sure right the president is
trying to get through the Congress some
way to reduce our taxes so the goose
won’t eat too much and I every goose has
an inclination to eat too much right
that the government spends too much
money the goose is overweight I
understand that but we’re all a little
over right everything by longevity tends
to get off course everything everything
needs to be corrected and that’s just
part of life the longer something goes
the more tendency it is to eat a little
too much indulge a little too much try
to gather up a little too much power you
know that’s just natural right and the
government’s the same way right you hire
somebody to be a servant in your house
now they want to take over you say no I
hired you to take out the trash
not to run the handoff but churn up my
longevity right people just gather up
gather up gather up you know more power
and whatever and then it’s got to be
corrected put back in place put back in
place everything needs to be corrected
our diets our lives our friendships
marriage everything tends to get off
course goes along pretty good and starts
to drip got to bring it back starts to
drip bring it back to catch the drift
that’s just part of life so the goose
does overeat I understand that and
perhaps you know we do pay too many
taxes and the government does you know
spend them some of our running a bit
recklessly I understand that but see
Jesus did say you’ve got to take care of
Caesar as part of Caesar the
responsibility is to be the goose that
lays the golden eggs we do have to have
a society we do have to have a
government or you have no market okay
and among the governments of the world
we do have to protect ourselves then
somebody’s got to pay for the radar
and the polar Asst submarine and the
b-52 and the missile somebody’s got to
pay see I don’t mind picking up my share
of the radar you know and hire somebody
to watch it and make sure they stay over
there you got to do that so you got to
care and feed the goose mr. chef taught
me to be a happy taxpayer now that was a
whole new thing for me
be a happy taxpayer not a reluctant
taxpayer okay you got to care and feed
the goose and in this country of course
you know first a portion of our incomes
maybe it’s a little too much but pay it
happily anyway you know maybe they’ll
straighten it out and it’ll calm down a
little bit or whatever just pay it
gladly to know that we got to have the
army in the Navy in the Air Force and
the submarines and the battleships we
got to have a show of strength we’ve got
to be a leader among the free world we
really do and all that got to be paid
for so I don’t mind picking up my share
and everybody often pay their share in
my personal opinion the poorest of the
poor ought to pay federal income taxes
if it’s only $1 a year so they have the
sense of contributing to the care and
feeding of the goose instead of just
taking they also contribute at least a
dollar a year the poorest of the poor so
that they have a sense of helping to pay
for the safety and the security of the
country to see what our president may be
an Army and Air Force and the
governmental structure and what safety
we do have around the world keeps us
here secure in our homes right where we
can work and enjoy each other’s you know
commerce possibilities trade goods and
services and make money enjoy ourselves
and have a party
now somebody’s willing to do all that
out there while we’re here having fun
making money having parties I don’t mind
picking up my share too Sam okay so
Cesar’s first pay Caesar first then what
you got left after Caesar needs to be
divided up and the book the richest man
in Babylon gives you some suggestions on
how to divide up your money and where to
put it so that you’ll have a good plan
everybody needs a financial plan because
here’s how you surely wind up bro
spend all you make so you just wind up
broke now in those early days way back
there I spent more than me that’s why
I’m making it down to budget
all right Nance to finance the deficit
in my spending okay some suggestions on
what to do with what the money you’ve
got left now after taxes one is learn to
be enterprising profits are better than
wages everybody should turn part of
their income even if it’s from wages
into capital and become a capitalist the
healthier the country becomes is going
to be a result of more and more people
becoming capitalists
not just letting big big business be the
capitalists now communism teaches that
all capital should be in the hands of
the state and should we should take it
out of the hands of the individuals
because they’re too dumb and stupid to
know what to do with it all we want them
to do is just show up and do their work
and go home and behave themselves stay
out of trouble and we will take care of
the capital of the government now see in
this country we don’t believe that
communism teaches everybody should blend
into the master the glory of the state
and we all say heck with that the state
is the servant and all glory to the
individual that’s what we believe in
capitalism take the capital and divided
up among all the people and let the
people start a business and start this
thing going with Commerce and
interchange of goods
services and you will create a dynamic
society unprecedented in the history of
the world and we’ve proven that that’s
true but see communism says give the
state all the capital and we don’t
believe that we believe that everybody
ought to be capitalist use it in their
own way don’t think of things the state
can’t think of and they’ll react much
quicker than the state will right the
state should always two three four years
late government always late and they
always spend too much money right
capital ought to be in the hands of the
individuals now if you don’t use capital
and become a capitalist and you don’t
and you don’t and you don’t and
everybody doesn’t pretty soon guess what
now the capital will all start going
toward the state because the society has
to survive okay now these are just some
of my personal opinions
I’ve been Tyler rose right I don’t even
claim they’re right I just claim they’re
my opinions sort of that way I’m off the
hook but anyway be a capitalist make
sure you’ve turned part of your income
into capital and so you can teach kids
how to be enterprising and capitalist
from the time they’re little just little
kids you teach them on how to have two
bicycles one to ride and one to rent to
earn worthy okay and teach kids how to
earn money not just get a job teach them
how to be enterprising teach them how to
sell one of the best ways to learn about
life is just get out of the sell
something and little kids can sell teach
him how to buy a bottle of soap for two
dollars and sell it for three back down
the street your markets next door you
don’t have to go very far
teach kids out and knock on doors they
miss bound I got this soap it’s the
finest in the world teach them how to do
that and then teach them all the
advantages of being a kid some people
buy from me just cuz you’re level they
will it’s an advantage and the littler
the better so you teach them how to be
little
and you’ve got to hurry because you
won’t be little forever right get out
there and take advantage rights a little
kid knocks on the door and says mr.
Brown I’ve got this soap it only costs
$3 and it’s the best there is and I’m
your neighbor
I can take care of you you should buy it
and beside them little Ms Brown says hey
I appreciate you coming by that’s really
nice I appreciate that but look I’ve
already got plenty of so little kid says
well let me come in and check the kids
don’t mind doing that right I mean
they’re they know how to overcome
objections you don’t need to give him
classes they’re incredible
now little kid makes a sales got $3 now
what you got to do is not only teach
them how to earn the $3.00 how to get
the $3.00 but I’m making a sale now you
got to teach them what to do with the
money now it’s very simple what to do
with two dollars right set it aside so
you can buy another bottle so kid says
life makes sense otherwise you’d be out
of business that right and I know some
adults are little short on that
information so you got to satisfy two
dollars kid says okay then I got a
dollar to spend say no no if you spend
that you’ll wind up like most people age
65 Brook and then take him to that part
of town where people are 65 and Brook
and show let him walk around the
neighborhood drive around and the kid
says well I don’t want to live like this
they find now here’s what you do it’s
your money
you just got to show sometimes you got
to go and touch and look and see what
you don’t want so that you’ll make
arrangements over here north they ever
be there or that no loot that movie they
came out with where they took the kids
to the jail’s scared-straight
let them visit with the prisoners right
and firsthand they looked around saw
these bars in the jail prisons talked to
some of the prisoners and firsthand got
somebody say whatever you do don’t come
here now that’s not some Minister saying
don’t go there that
the man saying don’t come here whatever
you do let me show you what it’s like
here’s what I have to sleep I can’t get
out I’ve got 15 more years to spend here
kids eyes get about this big saying I
don’t ever want to wind up here see
that’s good right and to teach us all we
just got the goal where it is where
people have had the wrong plan and
that’s sad right to look back and say I
picked up the wrong plan at age 20 look
where I am who talked me into this
clinic I bought the wrong point so then
the kid says okay what’ll I do with my
dollar say here’s what you do with your
dollar ten cents is for the increase of
capital and everybody ought to have the
same plan ten cents out of every dollar
should be for the increase of capital
now see the kid understands this right
away says well that’s true if you saved
up your dimes and could buy two bottles
of soap instead of war and you saved
yourself a trip
that’s right now not only do you save
yourself a trip some people will sell
you two bottles cheaper than one you buy
one bottle for two dollars they sell you
two bottles for three AED kids says how
clever then when you sell it you make
more money that’s eight that’s why
you’ve got to accumulate your capital
cuz everybody benefits from it they get
to sell two bottles instead of one at a
time so it’s better for them and it’s
better for you and it’s better for
everybody now you’re starting to teach
commerce capitalism how to earn money
how to be responsible and mainly what to
do with it
here’s another Kensit
another ten senses to give charity I
really should have put that first right
after Caesar Jesus said pay Caesar first
then pay God
Cherokee some churches teach 10% that’s
it like give it to the church and let
the church distribute it however or
distribute it yourself and whatever but
make sure you put back part of what you
take out charity some people are less
fortunate some people you know live
tragic lives and they need our help
so 10% set aside to help those that are
unfortunate cannot help themselves 10
cents for giving and a good time to
learn 10 cents for giving us when you’re
little because it’s pretty easy to flip
the dime out of the dollar what’s a
little more difficult is to give up
hundred thousand out of a million so
this is all if I had a million I’d give
up hundred thousand I’m not that sure
that’s a lot of money we better learn it
now just in case you know you get the
big stuff and we’ll turn this of it so
it develop the habit now if the tenth is
right kids should learn the first dollar
you get you should learn how to divide
it up because if you let a kid when he
gets his first dollar spend at all
you’ve already started them on the wrong
habit better now what if they do that
the rest of their life they will be in
serious trouble so you got the teaching
what to do with the first dollar the
first self or as quickly as possible
correct what might be wrong so 10 cents
for charity 10 cents for the increase of
capital and 10 more sentences for
investing now at first used that ten
cents think of the richest man in
Babylon says use 10 cents to pay off all
your bills which is good now you can
start using it for investing to pay off
all your bills first all a little
accumulation of credit cards and all
that stuff
there’s a Bible phrase that says the
borrower is servant for the lender and
as quickly as possible you don’t want to
be a servant anymore
what you want to be as the lender not a
borrower get on the other side of the
table as soon as you can the borrower is
servant to the lender now once you’ve
got all those little bills paid off just
cleaned up all the little bills
Arnold’s linoleum everything all that
stuff just clean all that up now you’ve
got some money to invest now here’s
where you should invest some of your
money in financial institutions so that
it provide a larger capital pool for
successful people to borrow and start
big businesses that you at first can’t
start build big factories and employ
lots of people there needs to be in a
collection of capital so that people can
borrow it guess what they will do when
they borrow your money pay you for the
use of it so you teach kids how to put
their money savings accounts financial
institutions in Australia not long ago
man said to me I’m recommending
everybody put their money in gold take
it out of all the banks I said then
you’ll bankrupt the country you can’t do
something to teach it to everybody else
it’s going to bankrupt the country you
can’t be totally self-protective you
must care and feed the goose that lays
the golden egg if you’re gonna drive on
the society streets and if you’re gonna
drive on a walk on society’s sidewalk
and indulge in society’s commerce and
good services in the community you’ve
got to do your share to care and feed
the goose you can’t grab beers and put
it in gold and hide it and put it in the
ground because if everybody did that we
would have no Society so you can’t teach
something that if everybody did would
wreck the whole thing he said well I
never thought about that I said that
Gogh is right now you must you must
think you must ponder what’s gonna help
all of societies and this is what I’m
gonna grab everything I got barricaded
myself go off to a cave in the mountains
and wait with the gun well if everybody
did that right then the world would be
over and God would have to start
over here which he’s done on occasion
but most people didn’t enjoy the process
so what’s gonna help everybody what’s
gonna help commerce wonder what can I do
on my part on taxes and my part on
savings and my part on helping financial
institutions that will build businesses
and employ more people and keep the
health of the country it’s going and
alive right you just have to think not
just about yourself right self thinking
is for the development of skill now we
need to think also outwards about what
can I do my part my ten cents my
percentage and you can teach this to
kids put your money in financial
institutions kids as well do you get it
back maybe sure you get it back they
borrow it for a while and give it back
to you and they also pay you interest on
it pay your money for using it kid says
how clever and then you give them the
blockbuster he says yeah but what do
they take kids and you give them the
good news
same rate as they pay adults now you can
start acting big because now number one
you are a lender instead of a borrower
and you’re getting paid as much as
adults even if you’re ten they pay you
the same percent it’s as well now then
you also have to teach kids how to be
happy taxpayers because kids become
taxpayers as soon as they spend money
they go down to the local store spend
fifty cents shopkeeper one foot out
three more spins kid there’s a sense
fifty cents here said it’s 53 cents you
got to give me three more sense kid says
work that for who get that money now at
age ten he’s a tax payer three cents
he’s got the coffer up out of his
hard-earned money he earned it till
did the shopkeeper says you got to give
me 3 cents it’s taxes little kids as
well I’m only can doesn’t matter at 10
you become a taxpayer now you’ve got to
teach kids how to be happy taxpayers and
what the three cents is for otherwise
they will be confused so you teach them
what the three sentences so you’ll see
the sidewalks on the street everybody
can’t make their portion of the street
you don’t have the equipment so what we
do is we all gather up this money from
all of us and we pay somebody to build
these streets in these sidewalks so you
have some to ride your bicycle on and
you can go places kid says well that
makes sense then here’s my three cents
I’ll make my contribution it’s part of
the care and feeding of the goose that
lays the golden eggs and then you also
teach kids C’s see the police car going
there you own that and the guy in a 20
year service service called public life
servant so at age 10 you got some
service service they can care keeping
the bullies away when you get in trouble
give a call see once kids understand
once people understand where the money
goes what’s it for make the happy
contribution divide up your money gladly
instead of reluctantly okay then you can
just change a lot of this inner turmoil
and you get more excited about
participating and doing your part and
learning skills and growing so that you
become an incredibly unique part of
society rather than a reluctant part and
a foot-dragging part and an unhappy part
and a miserable part and you do it with
animosity instead of joy you can imagine
what the complex of surprise be and how
it would change if everybody had those
feelings but if enough of us do they
will be able to affect all the others at
least in some measure what you do with
your money so now we’ve got 30 percent
set aside learn to live on 70
okay
Caesar first then God 10 pence rate
increase of capital 10 pence to invest
live on 70 now what you get doing
extremely well is you can even start
living on less and less and less because
the amount is more and more and more now
a few more tips on financial
independence and we’ll take our first
rate here they are number one if you
haven’t done it in a long time put
together a financial statement on
yourself the financial statement simply
is a piece of paper divided in half and
on one side is all a list of your assets
the value of your assets on the other
side of the paper is all that you owe
called liabilities then you subtract one
from the other and that now is called
your networks mr. chef acne have you put
together a financial statement recently
I said I never have put together one he
says well now’s the time to do it and I
wasn’t too happy about putting together
that first one that says well it’s not
gonna look that good he said it doesn’t
matter how it looked
you got to have one to get where you
want to go first of all you got to know
where you are they where in mind without
kidding anybody okay now this first
financial statement you don’t have to
publish it in a public record it’s for
your own private eyes to see but you got
to see where you are take a look now
when I put my first one together I had
no problem on the liability side I mean
that was long list budget finance oh
they were all on this money I’d borrowed
from her parents I mean it was all on it
right on the asset side though I really
started scraping the bottom of the
barrel I put the value of my shoes on
there but shoes there were ten bucks at
least
right I mean I’m scraping so I won’t
look so bad right
but anyway so if you putting together
your first one right you know whatever
you got to do make it look as good as
you can but also make sure it’s accurate
and make sure you take a good look at
where you are now then play this
financial independence program like a
game be delighted in reducing your
liability and increasing your asset
once I got the hang of this I started
putting together a financial statement
about every 30 days sometimes even less
if I knew the picture had changed quite
a bit
I drawn me up a new financial statement
so I could put away the old one here’s
my new one you just play it like a game
and then learn to be excited about
reducing your liabilities shell taught
me how to pay my bills with enthusiasm
now see that was a whole new thing for
me he said the next time you pay $100 on
an account on put a little note in there
and say look great exciting but I send
you this hundred dollars he says you
won’t believe what it’ll do on the other
end right
when they get that note but he says most
important of all you won’t believe what
it’ll do on your end now starting to
part with your money with wrist with
excitement with enthusiasm he started
changing my whole opinion about money
and about paying my bills and about
capital and learning to live with within
restricted limits it got me excited
about it and see a big part of what you
do with your plan is going to be your
attitude about it
so develop a whole new attitude about
your money remember it’s not the amount
that counts it’s the attitude and the
plan he got me to open up my first
savings account and he said go down
there with excitement and open it up
I’ve never had a savings again cycling
right there I don’t have any money to
open up a savings account he could have
you got $10 I said we I got $10 he said
then go get it open it’s not the amount
it’s the plan so I marched down to the
bank and opened up my first Savings
Account now that took a little bit I’m a
grown man and I said to the lady like
the way to tell me there’s debate but I
want to open up for a thing his account
she said fine what’s your name I said Mr
Rohn she said Mr Rohn just fill this out
I said okay so I filled it out I said
there it is
she looked it over and she picked that
fine she said that how we gonna get this
started
I
they put in you she said ten what I said
$10 now chef said be enthusiastic now
see I had trouble there I’m 25 I’m
married my family starting I’m working
and I’ve been to college
and I’m opening up my first dating
account with only $10 you know that was
tough but she’ll said swallow hard and
just go do it do it with excitement
because it’ll change it’s the plan that
counts not the amount what so I put the
$10 in I could hey this doesn’t look
like much but I said I tell you what
before long I will have the largest
statement account in this bank she said
well if you say so guess what
within less than two years I had the
largest savings account in that and in
less than two years shelf was right it
wasn’t the amount it was the attitude it
was my new plan I got excited about
rearranging my life putting it together
here’s a couple more keep strict okay
notes have you ever heard the expression
I don’t know where it all goes let me
give you probably one of the most
important phrases of the whole weekend
you’ve got to know where it all goes you
just got to know the Rockefeller boys
that their father grandfather made them
keep track of every penny they got in
where it went
it’s called habit you just got to know
where it’s going what’s happening get a
handle on it it’s part of how you become
financially independent because I found
out even early in the game when I was
making some pretty good money I found
you could make $5,000 a month and go
broke Sammy says how could you go broke
making 5,000 a month it’s easy spend six
thousand and nine months from Thursday
it’s over okay
if your outgo exceeds your income your
upkeep becomes your downfall you’ve
gotta know where it goes so keep strict
accounts now then when you can start
investing start a little business on the
side
do a little buying and selling if some
of the people just got incredibly
wealthy in this part of the country
right in real estate in the last 12 15
years unbelievable
be on the lookout for buying now
collective leaves for us you know in
doing business we have somebody who
specializes in looking for investment
but until you can afford that kind of
luxury where people can look and find
places you know to put your money to get
best advantage of making it useful as
well as making money
you just got to be sharp enough on your
own to do some buying do some selling
now so you can even teach kids how to
make proper investments what a kids
bought light bulbs three years ago and
just put them aside put them away wind
down the safe way and bought him and
brought him home put him under the bed
put him in the closet three years ago
what are they worth today two or three
times as much as they were three years
ago
how would you like to make that kind of
return on your money incredible kid says
lightbulbs I never thought about that
just buy some and set them aside by one
by ten by a dozen by a hundred save up
your money put it in lightbulbs set them
aside okay
three years later know you got some
lightbulbs to sell at an incredibly
inflated price tinsel yeah where do you
sell light bulb same people that are
buying your soap just right down the
street financial independence put your
plan together and get your family
excited about it get the kids excited
about it has them excited to get the
wife excited this is something that if
everybody works on if everybody has a
financial statement if everybody’s
knowing where it’s going and everybody
has a celebration every once in a while
when the assets are going up and the
liabilities are coming down and the net
worth is changing make it a source of
celebration right we’re among an
incredible group when comparing
financial tables I think the major guy
in our groups worth about 50 million so
you know he informed he becomes an
incredible incentive for the rest of us
it’s very familiar a known fact it’s
carrying that kind of heavy right gives
you something to shoot for
you’re look at the I’m looking pretty
good and then you see somebody else’s
financial things well I got a little
ways to go but anyway play it like a
game get excited about it develop the
skills and how to earn money thinking of
Enterprises investment developing more
skill so you can earn more money but
then have an incredibly excellent plan
on what to do with your money
and sure enough very quickly the first
year the second year the third year you
can’t believe the changes little stock
to be made and the major change of
course is in your own self confidence
and that’s where riches come from self
confidence it’s not the growing bank
account it’s your growing awareness that
you’re in charge you got a plan you’re
on track it’s changing because you
changed it it’s different because you
made it different it’s growing because
you made certain commitments to yourself
and those kind of feelings are where the
treasure is because the true treasure is
in personal development happiness is not
contained in what you get happiness is
contained in what you become but sure
enough what you become is related to
what you get so you can take a look at
what you’ve gotten and have great
satisfaction that you’re the one that
designed it you’re the one that defines
it
you just didn’t let it drift and drift
and get into trouble you made the
changes you made the hard decision so
for your own financial independence get
the book get some other books do some
reading make it a game play it have a
plan
change your attitude become a happy
taxpayer pay your bills with enthusiasm
put all this together and I’ll tell you
what it’ll start to change you won’t
believe okay
financial independence
you
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