WEBVTT

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It's really about playing the game and I think that that has been I think the goal if I have

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for most nations that everyone can get to a point where they're just playing the game

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and the love of the game.

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Welcome to the game where we talk about how to get more customers, how to make more

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customers, how to keep them longer and the many failures and lessons we have learned

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along the way.

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I hope you enjoy and subscribe.

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I was talking to an entrepreneur the other day and we were talking about living expenses

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and one of the things that a lot of our portfolio companies struggle with is when to decide to

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start spending money, right?

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It's very difficult because a lot of times it's much better especially those that grow

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their businesses.

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Many times they've been taught not to spend money which I think is the right lesson

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overall to get to get started, right if you define that as the optimal confer material

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wealth.

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On the flip side, there's also some people who struggle to ever get ahead and they're

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always living paycheck to paycheck even when they have a lot of money and I know I have

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some friends who they're in their 50s and have always made very, very high incomes and

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have spent virtually every dollar and now they regret it.

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I don't think there's anything wrong with spending all the money that you have.

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I do think that it is not ideal for material wealth accumulation if that is the goal, but

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you may enjoy your life that way so it's really I think a balancing act between those things

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and so I thought it might be fun to make a video about how my living expenses changed

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from dollar zero to now we do over $100 million a year at acquisition.com and if you're

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new to the channel, I make these because I would help and I hope that these things can

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help you get to $3 million more so that we potentially partner with your business and

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help you get to $30 million.

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Let's dive in.

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Season one here was Alex quitting his job and sleeping on the floor.

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I tried to write out each of these phases or seasons of my life, the outcome, the income

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and the expenses I was incurring at the time.

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I slept on the gym floor so I had no rent besides my business rent but I had no personal

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rent.

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My car payment was not existing because I had my car in cash and I actually only lived

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exclusively on the cash sales from the business.

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That was actually my living money which for me was a combination of eating in and out

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in Chipotle.

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That was it.

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My accountant actually told me that I did done over 500 transactions at Chipotle that

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first year and he was like that's insane.

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I was like well I don't buy groceries and I don't cook so I just I ate out always and

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that worked out for me so it was actually for me cheaper than all the time and I just

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stayed at work and I slept there and that was kind of it right and so anyways even during

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that time I was able to increase my income to about $15,000 a month but I tend to be

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very security driven and I've noticed that about myself so I like to make a lot more

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than I'm spending all right and the reason I'm making this video too is that like some

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people will see us you know fly private or will see us eat out you know many many many

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or every night of the week and saying oh that's what I should do now I should emulate

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that and that's I think I wanted to actually show kind of the come up of what kind of

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expenses you know expense income ratio looked like for me over the last ten years to

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hopefully you know provide some clarity for those of you who at least are trying to emulate

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the path and if you're not then then don't emulate this path but this is what works for

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me okay now at this point I had two partners into the scene and we stopped taking dividends

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and we started investing in the growth of the of the business overall that's what I went

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from you know one to six gyms and I really took no dividends in that period of time and

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I had saved this offer about six months so at about $70,000 total saved up after taxes

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from that first you know six to nine months of doing business and at that point that

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was it and I lived on that for three years that cash lasted me for three years which is again

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probably why I'm so security driven because I know it's like a little nothing and so my

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my car was still in cash so I had no car payments and I did up my lifestyle to renting a

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room and it wasn't actually me running a room for context I actually had a true roommate

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so it was a house there were seven people in the house and I split one room and so this

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was in seller California and my rent was I can't I think I think it was $700 a month and

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it might have been 400 it was 400 to 700 in there and it was a house in Costa Mesa and I

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literally had another guy who slept in there with me and we split it all right so mind you

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like I'm reinvesting all my cash in growing these in this business but my personal expenses

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were virtually zero the only thing I spent money on was going out to each point and that

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was it all right that was literally all I spent money on and I had this shared room okay now

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I did that for three years all right so like this is like this there's the scene is I can

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say three years really easily but it took three years of my life of this this little season here

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now the next season that happened was I bought a condo and I bought a condo because I

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relic the condo I thought it was you know well priced and whatnot and I lived there for a very

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short period of time and then I realized that I could rent it for $3500 a month so that's what I

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ended up renting the condo for and then that's when Layla and I started doing gym turn around so

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used to fly around and do these launches right and so these launches at that time for a business

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perspective got us to about 200 300 thousand month now that was revenue my income was still very

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very low and that's because again I didn't take distributions because I didn't learn that lesson

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yet all right so for those of you who were like taking notes at home there's multiple periods of

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you those of you who know my story I've lost everything in between here multiple times and so that

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is why I'm so big on taking distributions as you grow because at the end of the day risk is a

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real thing and I had spent years of my life building something only to lose it and I didn't want to

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make that mistake again and so this was yet again another one of those mistakes where I did

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and I did these turn around and I lived at the extended day here for $1,800 a month all right so

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my rent expense was $1,800 a month we had a car that we owned in cash which was the Prius during

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this period of time and that was it that was the only expenses was the was the extended day and then

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us eating you know Chipotle and stuff and Layla was kind enough to deal with me eating Chipotle during

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this entire period of time and so we got the business about 200 300 thousand dollars a month there

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was a bunch of logistical issues with the business it was low margin there's a lot of operational

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complexity I was learning right so then from there we said you know what maybe we should settle

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down and that's when we switched to having sales teams fly out and do this stuff on our behalf

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and do the gym turn-outs and we could stay central so that's where we moved to Albuquerque because

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we had friends in Albuquerque that we wanted to learn from and our rent there was $1,200 a month

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okay the car we owned in cash which was Prius aka hash tag mobile those of you who are you

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know valuing your business over your personal expenditures and we ate out out once a week and this

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is actually when we switched to meal prepping excuse me so Layla started cooking because we had a

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kitchen that was like regular and it wasn't just like an extended day kitchen so she started cooking

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which was awesome and we ate out eight out once a week for like a date night because that's what we

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believed what we had to do then was have a date night which we have since changed the way we do

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things but at that time that was the one kind of big expense of the week as we would eat out

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car was in cash $1,200 a month was our rent and here's what's crazy during this period of time

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the business went from the turnaround business at $300,000 a month to $1.5 million a month

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all right and these were my living expenses so I was saving and this is really saving

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I was adding a million dollars to my personal bank out every month all right and by I I mean we

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all right and so this is when we started to really create a lot of wealth very quickly and my

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dear like we didn't live on a lot of money still all right and I think when we had about

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I want to say we had 4 to 6 million saved up after taxes at this point and that's one in cash

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we bought a 1.8 million dollar house we bought the 1.8 million dollar house in cash in Austin

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which was a really good deal at the time for that for that particular house we still split

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one car it was she owned in cash and this car now got upgraded it was an i8 which was a gift from

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clickfunnels for being an affiliate so I got the car for free and they they basically paid us

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to buy the car it doesn't matter but the point is I didn't have I didn't have car payments for

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the car and this time we still ate out actually less frequently than in Albuquerque's we were like

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super intense in work mode this is where we overindexed on trying to build the enterprise and build

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the business during that period of time and I don't want to say I regret that I think it was a

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necessary lesson I think we did not have nearly as much fun as we probably could have but

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Leyla and I were so afraid of losing what we had built and so you know we it was just like we

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just didn't want to mess it up and so we just wanted to work all the time because we're just so

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afraid it was very fear driven still hey guys real quick if you're new to the podcast I have a book

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on amazon it's called 100 million dollar offers that over 8,000 five star reviews it has almost

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a perfect score you can get it for 99 cents on Kindle the reason I bring it up is that I put over a

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thousand hours into writing that book and it's my biggest gift to our community so it's my very

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shameless way of trying to get you to like me more and ultimately make more dollars to that later

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on in your business career I can finish the part with you so that's my gift go check it out

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amazon and back to the show now you know two or three years in at this point we brought we bought

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an additional car which was a Bentley I talked to Bradley and I talked to Berkis Dio friends of

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ours and they were like dude you got to spend some money and I was like all right so we bought a

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fancy car and I realized quickly that we didn't care and so we sold it within six months we lost

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money on the car and we were happier for it and so it's just we realized it just didn't matter

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to us it just sat in the driveway and getting an expensive car fixed we had a teenager ding the

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thing the bumper and it was you know in the shop for three months of the six and it was ultimately

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just a pain in the ass now that being said still during this period of time you know the Bentley

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was the only really expensive thing we bought the house was in cash so I had no house payment the

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car was in cash but no car payment and the only real expenses we had it at that that period of

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time was eating out one to two times a month that was literally it all right and during that time

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our revenue increased from 1.5 million a month to to over four million a month in that period of

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time and our wealth continued to to grow because everything that was in excess from the income

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spectrum just poured straight into our savings all right so that was for context during that period of

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time I think we accumulated around on as a thirty million dollars after taxes in in cash and assets

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or you know cash with links things like that and so it was really just savings right we didn't

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sell anything at that point that's kind of where we're at that at that chapter all right now at that

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point now my view this was like cash stuff there's the equities in the business that obviously

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were worth more than that but that was just straight dividends and I think an important part

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there is like I learned to take dividends because I realized that I was giving myself an excuse

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by reinvesting every dollar of cash flow into the business which a lot of times meant that I just

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wasn't really focused on profitability and I think that sometimes that's a business strategy

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it's very rarely the right one and a lot of times just having a sustainable growth path where you

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can do you risk yourself by taking cash off the table because let's say COVID happened for example

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and you know our company said going down which they did thankfully we had very strong businesses

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that were able to sustain that even though they were in heavily hit industries this gave us a very

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good piece of mind to know that we could cash for the company if we needed to and we could keep

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everything alive for as long as it lasted and you know we thought it was going to be 12 weeks and

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then it was two years right and so that's why I'm a big fan of derisking and and living cheap now

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you're like well that's not living cheap Alex the thing is is that relative to my income and this is

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why I wanted to make this video is for context right yes we lived in a $1.8 million house and yes

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you know we sold the house for four million dollars two and a half years later so it was an

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expensive it was a nice house in a nice neighborhood but we could buy our house in cash every month off

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of our income all right so like this is what I feel like is lost sometimes in the podcast and

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interviews that I talk about and sometimes like oh you eat now you eat out oh you eat private and

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it's like yes but like I'm so security driven and I just want to convey that I'm not saying you

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have to be I'm saying this is work for me all right and so we were able to accumulate about 30 million

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bucks in cash between like real estate and stocks I would say like non business equities or non

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public market equities during that period of time all right now after that um those you some of

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you know is that in 2021 we sold everything so we sold our three businesses we sold two cars

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we sold the house we sold everything actually sold one car we were going to sell the other car

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and I think we kept it so excuse that so that should just be one we were planning on selling two

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we sold one which was the Bentley all right so we sold everything so we had no personal assets

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all right we had business assets and investment assets we know personal assets at that time

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and so then we started running a condo the one that we were currently in for 15 grand a month

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we spent about $15,000 a month on food and eating out we don't cook much and that's just from

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a time perspective and it's also for us the end of the day is kind of like where we unwind and so

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we work from pretty early morning until about four or five o'clock then we got to dinner at six

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we give out comments at 30 layland I probably watch a show and then we go to bed and we do it all over

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again and so that's that's our day that's what we do I might be like that's really boring yeah probably

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I don't know we like it and so that's what we do so we spent 15 but 15 grand a month on food probably

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$15,000 a month on travel I will say this we flew private mortaring this season and we do now and

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that's because we found something that I think gives us confers from a benefit to cost ratio many

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of the advantages of private but it's it's public so we actually fly JSX now for anything that

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is on the west coast which is basically like semi-private travel it's cool it's like you know you

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can have like three to you know 15 other people on the plane with you and you and it has all the

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same benefits of private which is you roll up straight to the plane 10 minutes before it takes off

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you literally get right into the plane and then it lands and then you walk straight to a car

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so it just saves so much time and it's marginally more expensive than normal ticket I think some of

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the tickets are like 200 to 400 bucks it's not expensive and so we start we stop flying private because

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you know spending $50,000 on a plane flight if I can get basically the same benefit for $400

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he is worth it and so again this is one of those like we flew private because it saved his time

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and it turned travel from a negative into a positive but JSX I think accomplishes all that

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and I never cared about having other people on the plane I just cared about getting places faster

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not having to get hassled and JSX accomplishes that so I mean we're we pretty much always fly those

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now everywhere we go and almost if anything we try and fly places where they go which is wonderful

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and you know during this period of time where we're currently at you know acquisition.com I say in

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the videos you know we're doing over a hundred million dollars a year but right now we're over

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150 but just for sake of you know not making the number change every time the business to scroll

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we grew from about $7 million dollars a month to $13 million a month between the portfolio

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companies in that period of time and so I show this to show that you know I don't think our

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our lifestyles have increased at the proportion that our income has and I think that's because

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Layla and I are both very security driven as individuals and that works for us and I want to have

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kind of one final point that I'll make here that hopefully you can take away from this is that if

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the goal is material wealth accumulation then the lower your personal expenses the more you will

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accumulate right and your piece of mind will be predicated on the ratio between your income and your

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expenses right if you can make enough in a month or a year to give yourself another multiple years

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of living then you go towards your f you number as fast as possible so you know there's two variables

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there how much you make and how much you spend now at some point people are like well I'd like to

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increase my expenditures I think that's natural and I think that's normal and I think the thing that I

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would push against which is why we had you know a hashtag that went pretty uh pretty viral which is

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mosey mobiles uh we'll probably have mosey mansions too I'll probably start that one uh maybe I'll

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show an image of of what our twelve hundred dollar apartment looked like but it's it's really less

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about living cheap and more about spending money on the things that you value rather than what

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society's told us to value right and so for me the equity growth my businesses I valued more than

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having a lamb out or having a Bentley and for me I just don't get a lot of value from it now some

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people might and that's okay I just think that it's really good to think consciously and

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am I buying this because I want status from other people or because I really think that this

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thing converts value right same thing with flying private for example at least for us the decision

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calculus has changed recently just because I just discovered this for the last few months we've

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been flying JSX and honestly I love it it's great the benefits of value ratio uh has diminished now

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that I have an alternative that is you know one hundredth of the price of private and confers almost

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all the benefits that I enjoy and so I say this to say I am all about wealth and wealth is the

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ratio between income and expenses and the peace of mind that you have from knowing that you have

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enough and so for me my goal was to get to enough as fast as possible so that I could feel that

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peace of mind um everything we do now is just for love with the game which is why the podcast is

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called the game which is why I make these videos and just to see like what would it look like to get

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to a billion because that sounds really exciting and epic and fun and at the same time as I'm super

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invested motivated to get there I have very little I'm okay if we never do uh and I don't even

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want to say that because I do 100% believe that we're going to get there but it's it's really about

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playing the game and I think that that has been I think the goal if I have promotion nations that

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everyone can get to a point where they're just playing the game for the love of the game not for

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the lamb or for the mansion or for the whatever because I can tell you that those are moments and those

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are fleeting and so I think it's much more of a process of becoming rather than obtaining and I

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think that if we can make that switch we get to experience a lot of the benefits of the wealth

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because wealth occurs or you become wealthy the moment you decide you are because you will realize

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at some point that money will buy you freedom will not buy you happiness and so if the goal is

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you know first the goal is freedom short but then you're free to experience the feelings that you

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have and you'll realize that it was not that thing but it can't absolutely decrease pain and

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inconvenience in your life and so I can obviously I am somebody who's gone after material wealth

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accumulation in my life so I don't want to say that like it's not something that I find interesting

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fun and stimulating I don't even know what I would do if this game didn't exist but it's really

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just to take pause and think like are these things that I'm buying really adding more value than

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the price that I'm incurring to purchase them and I think many times people purchase things without

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taking an extra second to pause and say like am I really getting $500 of value from this shoe

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am I really getting $2,000 from this belt am I really getting XYZ now you can do this relative

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to your income right like it's not unreasonable to live on a million dollars a year if you make

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$15 million a year right it's not it's actually less and here's what's crazy it's less to live on

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a million dollars a year when you make 15 then it is to live on 100 when you make 400 right it's about

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the ratio between income and expenses and so we can control our expenses and also we can control

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our income based on getting more skills which is why I've been a very loud advocate for spending as

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much of your extra dollars on acquiring more skills so that you can increase your capacity to earn

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and when you do that you can accelerate towards that wealth discrepancy between income and expenses

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at a faster rate and then ultimately achieve the peace of mind that I think most of us are after

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anyways myzination I love you guys I appreciate you I don't deserve this audience that you guys

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have come together you guys are amazing and I just I'm so grateful that this channel and

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and the other you know social media accounts and things like that thank you guys for all the

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support you guys are just just awesome I just didn't even know so many of people like you know

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me existed out there and it definitely makes me feel less alone so appreciate you guys keep

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being awesome bye