WEBVTT 1 00:00:00.000 --> 00:00:05.040 We were pulling up in a Prius that had a crack across the windshield and a dent in the side door 2 00:00:05.360 --> 00:00:09.080 All right, and this car was probably a 6,000-dollar car tops, right? 3 00:00:09.080 --> 00:00:14.800 And the thing is is at that moment I was a millionaire like I had a million dollars in cash, right? 4 00:00:15.280 --> 00:00:18.800 Sitting in my big account after taxes and yet I was driving a 6,000-dollar car 5 00:00:19.440 --> 00:00:24.280 Welcome to the game where we talk about how to get more customers how to make more per customer and how to keep them longer in the many 6 00:00:24.280 --> 00:00:27.520 Filiers and lessons we have learned alone the way. I hope you enjoy and subscribe 7 00:00:28.480 --> 00:00:34.480 What's going on everyone? I've got a special presentation for you guys today. This has been on my mind for probably about half a week now 8 00:00:35.200 --> 00:00:39.280 And it's going to be about money. All right everybody's favorite topic 9 00:00:39.800 --> 00:00:43.920 And it's probably not going to be what you think it's going to be but it's going to be really good promise. So 10 00:00:44.760 --> 00:00:49.480 One of the things that is top of mind is that I get a lot of conversations from entrepreneurs who are like I just want to be in the top 1% 11 00:00:49.480 --> 00:00:51.480 I want to and the thing is is 12 00:00:52.480 --> 00:00:59.440 The people who are in the top 1% live a different way and they also don't live now the way they did to get here 13 00:00:59.440 --> 00:01:04.120 All right, and so I'll tell you a quick story and then I'm going to show you what I mean with this beautiful pyramid 14 00:01:04.120 --> 00:01:11.560 And if you're listening then I'll try and explain it visually or audio wise. So when I was very early on in my career 15 00:01:12.520 --> 00:01:14.520 Or earlier to the nail, right? 16 00:01:14.520 --> 00:01:16.520 I was 17 00:01:16.520 --> 00:01:19.760 Showing up to a mastermind event that I had it was the first mastermind event 18 00:01:19.760 --> 00:01:23.760 I think we had 28 people who were showing up and all of these people were paying 19 00:01:24.560 --> 00:01:26.560 40,000 years and 20 00:01:26.560 --> 00:01:30.760 I remember pulling up to our event. It was in Albuquerque, New Mexico and 21 00:01:31.880 --> 00:01:34.680 They were walking to the hotel as I was pulling up, right? 22 00:01:35.080 --> 00:01:37.280 I was like nervous and excited and all that stuff and 23 00:01:38.600 --> 00:01:40.600 One of the one of the girls Monica was our 24 00:01:41.600 --> 00:01:43.600 I 25 00:01:43.600 --> 00:01:47.520 Was like as we're getting out of the car. She was like I thought you guys were supposed to be rich 26 00:01:47.520 --> 00:01:52.240 And she literally said that and I still remember it to this day because it was like such a moment for me 27 00:01:53.000 --> 00:01:55.000 I don't even know if she remembers it, but 28 00:01:55.240 --> 00:02:00.400 We were pulling up in a Prius that had a crack across the windshield and a dent in the side door 29 00:02:00.680 --> 00:02:04.440 All right, and this car was probably a six thousand dollar car tops, right? 30 00:02:04.440 --> 00:02:10.160 And the thing is is at that moment I was a millionaire like I had a million dollars in cash, right? 31 00:02:10.560 --> 00:02:17.280 Sitting in my big account after taxes and yet I was driving a six thousand dollar car and so one of the things that I consistently see 32 00:02:18.000 --> 00:02:24.840 Is people outliving their means and this is that's not a new message, but for some reason it still doesn't resonate with people and so 33 00:02:25.080 --> 00:02:29.000 I'm gonna level up this conversation a little bit because you're like wait Alex 34 00:02:29.000 --> 00:02:34.240 I thought you now have a Bentley which I totally regret by the way, but I do have a Bentley and we have a very nice home 35 00:02:35.040 --> 00:02:37.040 the thing is is 36 00:02:37.320 --> 00:02:42.920 A Bentley for me relative to my income is less than one week's income for me income 37 00:02:44.120 --> 00:02:51.400 And so one of the important things to understand is the relative cost of any of anything that you have and so I 38 00:02:51.560 --> 00:02:56.080 Have always used this back of napkin math to justify expenses 39 00:02:56.480 --> 00:03:04.080 All right, and so as a result of that I always have lived on less than 5% once I started making money less than 5% of what I 40 00:03:04.640 --> 00:03:09.680 Made which pretty much meant that until I was making a million dollars a year or more. I lived on thirty thousand dollars a year 41 00:03:09.920 --> 00:03:14.480 All right, which is if you've heard my other story about once Layland I made our first hundred thousand dollars 42 00:03:14.480 --> 00:03:20.040 I told her this is awesome. That means that we have three years of living if we make no more money 43 00:03:20.360 --> 00:03:27.000 All right, because we knew that on on on $1,500 a month we could live right decently comfortably and 44 00:03:27.520 --> 00:03:33.920 I'll tell you this comforts nice, but there's not that much more enjoyment you get out of like driving the Bentley versus a normal car 45 00:03:33.920 --> 00:03:38.400 Now, I'm sure there's car people who were like whatever, but I'll tell you that the incremental gain that I have in my life is not worth the money 46 00:03:38.400 --> 00:03:44.120 It's probably the last expensive car I ever have is also the first really expensive car that we ever got but 47 00:03:44.560 --> 00:03:49.480 What I wanted to do though and kind of shift the conversation is not just talk about you know making 48 00:03:49.840 --> 00:03:53.640 Are spending a lot less than you make because I saw somebody recently who is one of our clients 49 00:03:54.360 --> 00:03:58.160 They graduated from the program and then they went on to start an online business. They were a gem owner 50 00:03:59.680 --> 00:04:02.680 And I saw the expenses that they were incurring and I was like man 51 00:04:04.440 --> 00:04:10.680 Like that worries me, you know what I mean? It just it to worries me because I see a lack of judgment 52 00:04:12.000 --> 00:04:14.000 Because you don't know how things are gonna change 53 00:04:14.000 --> 00:04:17.200 I mean I think if the last year for anyone can say that things can change quickly 54 00:04:17.200 --> 00:04:21.480 And I want to have tons of dry powder tons of reserves to pull on if I need them 55 00:04:21.640 --> 00:04:27.360 And so for me, I get more anxiety by having expenses and so for me to actually lower my anxieties 56 00:04:27.360 --> 00:04:31.920 I lower how much I spend and so if that's something that you can associate for yourself as in the less money 57 00:04:31.920 --> 00:04:33.920 I spend the more relaxed I am 58 00:04:34.240 --> 00:04:37.640 Then I would encourage you to do it because for me it's been one of my kind of secret sauces 59 00:04:38.280 --> 00:04:40.920 Of success is just like just don't spend a ton of money 60 00:04:41.240 --> 00:04:46.880 Especially relative to what you make and so what I want to do for the rest of this is kind of first talk about 61 00:04:46.960 --> 00:04:51.000 What it looks like to get in the top 1% and then how to get there all right? 62 00:04:51.480 --> 00:04:57.680 So right here, you've got a pyramid and if you're listening, then you can listen along but there's four layers to this pyramid 63 00:04:57.680 --> 00:04:59.760 All right, and this is kind of the top 1% pyramid 64 00:05:00.080 --> 00:05:05.240 The bottom layer of this is people who have these are considered high net worth individuals 65 00:05:05.240 --> 00:05:08.480 All right, that means you have one to five million dollars in assets 66 00:05:09.240 --> 00:05:14.840 All right, now this may surprise you, but the people at this level and I've got my notes here 67 00:05:14.840 --> 00:05:19.880 So I'm going along with this in the United States. It's one in 69 68 00:05:20.880 --> 00:05:26.360 So one in 69 people is has between one in five million dollars 69 00:05:26.360 --> 00:05:31.680 So being over a million is not even top 1% anymore. I mean it sort of is but like 70 00:05:32.240 --> 00:05:35.640 It technically it's a little bit like if you actually had one million dollars. You wouldn't be in the 1% 71 00:05:36.560 --> 00:05:42.480 But I find that but that's in assets not income, right? That's an assets not income 72 00:05:42.680 --> 00:05:49.200 You don't need to make a million dollars a year to be in the top 1% right and what's crazy to me is that the top 1% income 73 00:05:49.880 --> 00:05:56.160 Is 400,000 a year, but the top 1% in assets is only a million or a million and a half bucks 74 00:05:57.080 --> 00:05:59.080 How nuts is that? 75 00:05:59.080 --> 00:06:02.960 It means people spend all their money. That's what that means 76 00:06:03.280 --> 00:06:08.680 So if you have a top 1% income you should be way above the top 1% in assets 77 00:06:08.880 --> 00:06:14.880 But it doesn't work that way because people always want to show off and people can't think long term and the only thing that I've 78 00:06:14.880 --> 00:06:19.960 been continually reading about because of it's really pouring a lot into really reading a lot about monger and 79 00:06:20.760 --> 00:06:27.080 And Buffett so Warren Buffett and Charlie Munger who are founders and what of Berkshire, Athaway 80 00:06:27.720 --> 00:06:33.840 Is how they live and how they think in terms of long term and so I'm going to transition to talking about how to get there 81 00:06:33.840 --> 00:06:41.440 But I'm going to finish this little chart for you. So this is the top 1.5% roughly of the US is 1 to 5 million in assets 82 00:06:41.440 --> 00:06:46.200 And that's 1 in 69. So if I for me, I like the 1 in personally it makes it more real for me 83 00:06:46.200 --> 00:06:50.920 So 1 in 69 people all right now in the US the next level is 84 00:06:51.600 --> 00:06:58.120 Very high networks you go high net worth to very high net worth individual for this it's 0.3% 85 00:06:59.080 --> 00:07:00.600 All right of people 86 00:07:00.600 --> 00:07:03.760 That's crazy now. Here's what it is in math. That's 1 in 87 00:07:04.760 --> 00:07:12.920 338. So 1 in 338 people is which worth between 5 and 30 million dollars. That's what they have in investable assets 88 00:07:13.360 --> 00:07:15.360 5 and 30 million dollars 89 00:07:17.760 --> 00:07:22.320 I'm purposely putting this out there to hopefully counter the Instagram culture of 90 00:07:22.600 --> 00:07:28.280 Flexing in front of a Lamborghini or Bentley right whatever because most people are broke 91 00:07:29.280 --> 00:07:34.320 Like most people are poor and I think that I'm going to I'm going to lay out a 92 00:07:34.840 --> 00:07:42.000 Plan for you that's very simple to get you above this to really just being the top 1% and the thing is is like I said 93 00:07:42.000 --> 00:07:48.440 The top 1% income earners are earn over 420,000 or 440,000 a year depending on where you're looking 94 00:07:49.600 --> 00:07:52.880 That's per year. So for you to get over 5 million 95 00:07:53.520 --> 00:07:58.480 Like you just need to live on a lot less than you make if you were in the top 1% income earners 96 00:07:58.480 --> 00:08:03.040 You should be in this 5 to 30 million dollars within not a ton of time, right? 97 00:08:03.040 --> 00:08:07.920 And then the the level above that is ultra high net worth individuals 98 00:08:08.800 --> 00:08:10.800 which is 99 00:08:10.800 --> 00:08:12.800 1 in 13 100 00:08:13.360 --> 00:08:15.360 83 and that's 101 00:08:15.880 --> 00:08:17.880 What is that that's 102 00:08:17.880 --> 00:08:19.880 0.07% 103 00:08:19.880 --> 00:08:24.920 All right 0.07% right and then finally, I'll just finish this little chart out 104 00:08:26.240 --> 00:08:28.240 billionaires is a 1 in 105 00:08:29.280 --> 00:08:31.280 468,000 106 00:08:31.280 --> 00:08:36.280 All right, and and the percentage there is 0.000 107 00:08:37.480 --> 00:08:38.680 4 zeros 108 00:08:38.680 --> 00:08:46.640 3 zeros 3 zeros 2% all right now the reason that the jump between the 3rd stage and the 4th stage is so large is that the 109 00:08:46.800 --> 00:08:54.320 Range is between 30 and a billion so everyone that's got between 30 and a billion is in the next level and then billionaires 110 00:08:54.320 --> 00:08:58.640 That is the fourth category. So these are the kind of like the the four layers above the 1% 111 00:08:59.280 --> 00:09:02.880 The very first layer kind of gets you into the top 1% more or less, right? 112 00:09:03.440 --> 00:09:04.640 And then 113 00:09:04.640 --> 00:09:06.640 Above that you have the varying categories 114 00:09:06.640 --> 00:09:11.920 The thing is is that in order for you to get to above 5 million dollars 115 00:09:11.920 --> 00:09:14.720 So not even top 1% but top 0.3% 116 00:09:15.120 --> 00:09:21.800 All right 1 in 338 so you walk in term. There's 338 people. You're probably the richest person in the room, all right 117 00:09:24.440 --> 00:09:29.560 Amos and Asian quick break just to let you know that we've been starting to post on LinkedIn and want to connect with you 118 00:09:29.560 --> 00:09:34.080 All right, so send me a connection request and note letting me know that you listen to the show and I will accept it 119 00:09:34.080 --> 00:09:38.320 There's anyone you think that we should be connected with tag them in one of my or layless posts 120 00:09:38.320 --> 00:09:41.800 And I will give you all the love in the world. All right, so let's get back to the show 121 00:09:45.440 --> 00:09:49.280 For you to do that you got to save like 15 grand a year 122 00:09:51.120 --> 00:09:52.880 For 30 years 123 00:09:52.880 --> 00:09:57.120 That's it and that's assuming just 9% returns, which is just the stock market 124 00:09:57.680 --> 00:10:01.840 Right, just put in the S&P 500 and don't do anything with it, right? That's not doing crypto 125 00:10:01.840 --> 00:10:06.080 That's not that's not that's not learning how to like it's literally just 126 00:10:06.880 --> 00:10:12.480 Save a you know $1,200 a month and and put it into the S&P and do it every month 127 00:10:13.360 --> 00:10:14.560 That's it 128 00:10:14.560 --> 00:10:20.160 If you make $400,000 a year so you're making $35,000 a month right if you live on five 129 00:10:20.800 --> 00:10:24.320 You can put $10,000 and you'll be at the you'll be at the top end of this 130 00:10:25.040 --> 00:10:26.160 Right 131 00:10:26.160 --> 00:10:30.160 But everyone just spend so much money and so I 132 00:10:30.960 --> 00:10:32.160 I just 133 00:10:32.160 --> 00:10:36.880 When I see this it's both incredibly encouraging to me and it also incredibly saddening 134 00:10:36.880 --> 00:10:41.680 It's encouraging to me because I feel like genuinely everyone can get to the top 1% which doesn't make math 135 00:10:42.160 --> 00:10:46.320 Mathematical sense, but it makes it makes realistic sense and you feel like but Alex 136 00:10:47.120 --> 00:10:52.240 How do I how do I save $1,200 a month right so it's two things it's income and time 137 00:10:52.880 --> 00:10:58.960 Right net income being like minus your expenses. So it means it's make more money spend less money the easiest thing 138 00:10:58.960 --> 00:11:05.520 Most people do is they just spend too much money right and I know that sometimes you can like it's sometimes apparent depending 139 00:11:05.520 --> 00:11:07.360 If you like follow my Instagram or whatever but like 140 00:11:07.840 --> 00:11:12.640 Lail and I I think I was asking for her to give me the numbers from last year 141 00:11:12.640 --> 00:11:16.800 But we live on less than 5% of what we make all right and you're like well sure that's because you make a lot 142 00:11:16.800 --> 00:11:18.800 Yeah, but I lived on that when I made nothing 143 00:11:19.440 --> 00:11:21.440 Right and so I think most people 144 00:11:21.760 --> 00:11:25.840 Like you should live on 30 grand 40 grand a year and the thing is is that you already know 145 00:11:26.640 --> 00:11:31.760 In your heart that spent making that spending more of the money is not going to make you happier 146 00:11:32.000 --> 00:11:35.920 I'll tell you right now. It's not and if the point of spending money is to make you happier 147 00:11:35.920 --> 00:11:39.520 I'm telling you it's not sure like I have this studio 148 00:11:40.480 --> 00:11:42.480 I can justify this business expense 149 00:11:42.560 --> 00:11:43.440 um 150 00:11:43.440 --> 00:11:52.080 But I did this mostly because I enjoy it and to me from from a percentage of income it's negligible right and so I got this fancy setup 151 00:11:52.320 --> 00:11:54.960 Only after I had already crossed three of these levels 152 00:11:55.920 --> 00:11:57.920 right 153 00:11:59.680 --> 00:12:04.480 I'm saying this because it just it frustrates me because I really believe anyone can do it 154 00:12:04.560 --> 00:12:10.400 I really do you just have to live on a lot less than you make and so anyways to finish this out right 155 00:12:11.040 --> 00:12:12.080 What do you do? 156 00:12:12.080 --> 00:12:16.240 Most times you're going to want to have to sell something right either you're selling someone else's product 157 00:12:16.240 --> 00:12:20.560 Or you're selling your own product either way and by say product mean product service whatever right 158 00:12:20.640 --> 00:12:22.400 But either one of those categories 159 00:12:22.400 --> 00:12:27.040 And if you make a hundred thousand dollars a year a hundred thousand dollars a year and you live on 30 you can do this 160 00:12:27.840 --> 00:12:33.040 Not only can you get into this bought a quote bottom level the top one percent but you can get the top point three percent 161 00:12:33.680 --> 00:12:35.360 Right now if part of you's like well 162 00:12:36.720 --> 00:12:39.120 You know that then what's what's the point of living 163 00:12:39.920 --> 00:12:41.760 It really depends on on what you value 164 00:12:43.200 --> 00:12:47.440 If like and this is kind of backwards because it's like the type of person who wants to have more money wants to spend the money 165 00:12:47.440 --> 00:12:49.440 They have then I can understand it 166 00:12:49.440 --> 00:12:52.320 But then at that point just don't yearn for more 167 00:12:53.040 --> 00:12:54.000 That makes sense 168 00:12:54.000 --> 00:12:57.040 So like don't be dissatisfied that you haven't achieved your goal for me 169 00:12:57.600 --> 00:13:00.720 What I'm looking at is like how can I get into this category by the time I die 170 00:13:01.440 --> 00:13:02.240 um 171 00:13:02.240 --> 00:13:06.320 And use that to impact humanity like in a way that's that's meaningful 172 00:13:06.880 --> 00:13:09.440 That's what I'm that's what I'm trying to do right and so 173 00:13:10.320 --> 00:13:15.760 Anyways, I told you the prehistory to illustrative point which is I was a millionaire in living on less than three thousand dollars a month 174 00:13:16.320 --> 00:13:21.200 Right um, I owned my car our rent was twelve hundred bucks and Layla and I lived on 175 00:13:22.560 --> 00:13:25.760 I mean we bought food at the grocery store you know what I mean like we went out once a week 176 00:13:26.160 --> 00:13:30.560 Like it wasn't it like you can do that and live a normal life like a comfortable life 177 00:13:31.360 --> 00:13:32.880 And that was when we were making a lot of money 178 00:13:32.880 --> 00:13:36.480 And that's because I always have a fear or had a fear that I would it 179 00:13:36.480 --> 00:13:38.080 I was like what happens if we start making money 180 00:13:38.080 --> 00:13:41.120 I don't I just don't want to lose everything and so I think if you can 181 00:13:41.200 --> 00:13:44.960 Be satisfied and decrease your anxiety or make the amount that you spend 182 00:13:45.440 --> 00:13:47.920 um decrease your anxiety you will be happier 183 00:13:47.920 --> 00:13:51.360 So I'm going to leave you with this one piece as a final note on this 184 00:13:53.120 --> 00:13:57.840 Which is the simple retirement calculator all right world's simplest retirement calculator 185 00:13:58.560 --> 00:14:00.560 so 186 00:14:01.520 --> 00:14:03.360 If you live let's say 187 00:14:03.920 --> 00:14:08.240 Let's say that you are currently uh 30 years old all right, so you're currently 30 188 00:14:09.680 --> 00:14:12.160 And um, you want your retire 189 00:14:12.800 --> 00:14:17.520 All right, so let's say you want to retire soon. Let's say you want to retire by the time you're 40 all right crazy 190 00:14:17.520 --> 00:14:20.720 Shit you're gonna try to retire retire retire by 40. Okay. Cool. I dig it 191 00:14:21.280 --> 00:14:25.360 So if you're gonna retire by for I'm saying retire but realistically you're gonna work because you like working 192 00:14:25.360 --> 00:14:29.840 But let's just say that you won't you don't want to have to work. You just want to work on the stuff you like working on after you're 40 193 00:14:30.240 --> 00:14:32.240 Cool no problem 194 00:14:33.920 --> 00:14:39.760 The percentage of your income that you spend is going to be the thing that dictates how quickly you can retire 195 00:14:40.560 --> 00:14:51.200 Not how much you make so for example if you make $400,000 a year like I said right and you save 10% right 196 00:14:52.000 --> 00:14:54.800 First is making $100,000 a year 197 00:14:56.320 --> 00:15:01.360 And you saving uh, let's say 80% is what you save 198 00:15:02.480 --> 00:15:07.120 Then what's your what you every year you're adding four years of retirement 199 00:15:07.920 --> 00:15:12.000 Because it means that you are spending 20 and saving 80k 200 00:15:13.200 --> 00:15:17.360 Whoo, that's great. That means for every year you're getting four years back 201 00:15:17.360 --> 00:15:21.520 Which means if in 10 years at this point you'd have 40 more years 202 00:15:22.160 --> 00:15:28.480 Right once you hit 40 because you had 10 years of stockpiling for each year right you'd have 40 years of living 203 00:15:28.640 --> 00:15:32.960 Now mind you that's assuming at your current level and that the money that you now have saved up at this point 204 00:15:33.120 --> 00:15:37.760 Because you should have 800,000 right and that's assuming that none of the money you had made any money 205 00:15:37.840 --> 00:15:41.760 So it'd probably be closer to like 1.2 right million by the end of that decade 206 00:15:41.840 --> 00:15:45.280 That's really conservatives though maybe even two million right at that point 207 00:15:45.760 --> 00:15:49.440 That this money isn't even making you money. That's just literally assuming a straight 208 00:15:49.840 --> 00:15:54.720 Decrease in how much you spend right that every year would just go down which isn't even realistic 209 00:15:55.040 --> 00:15:58.320 Right, but if you did that then you'd get there and that's on 100 grand a year 210 00:15:59.200 --> 00:16:01.200 Right that's it 211 00:16:01.280 --> 00:16:05.600 On the flip side if you're at this 10% guy then every year he gets one tenth of a year 212 00:16:06.800 --> 00:16:09.440 Right because you're saving 40 and it costs him 400 to do a year 213 00:16:09.600 --> 00:16:13.520 Which means that this guy is never really going to be able to retire right and he's always going to be stressed 214 00:16:13.520 --> 00:16:20.960 Or she's always going to be stressed and so I say that only to illustrate one point which is you have to spend less than you make 215 00:16:22.160 --> 00:16:24.160 It's sometimes a simple shit people don't want to do 216 00:16:24.880 --> 00:16:30.560 And it means that you can either have your ego and how you look to everyone or you can have your ego based on the freedom that you feel 217 00:16:31.200 --> 00:16:35.680 And I know that the best majority people will never do that. I get messages every day from people who are like 218 00:16:36.720 --> 00:16:42.720 You know, they've been trying for 10 years to make a million dollars a year rather than maybe trying to make 100,000 dollars first 219 00:16:43.200 --> 00:16:47.520 Right and the thing is is to be in this top 1% you don't need to make a million dollars a year 220 00:16:48.400 --> 00:16:49.920 Not even close 221 00:16:49.920 --> 00:16:54.000 You're not even close to you don't even need to make close to a million dollars a year to be in the top 1% 222 00:16:54.480 --> 00:16:56.480 Right, if you just add a little bit of time 223 00:16:57.040 --> 00:16:59.200 You can get in the top 1% just being reasonable 224 00:16:59.840 --> 00:17:01.600 Right you can get in the top 0.3% 225 00:17:02.400 --> 00:17:10.560 By also being a you know unreasonable because compared to everyone else right just because the thing is is most people are insane 226 00:17:11.280 --> 00:17:15.040 In terms of their irrational with their behavior and their expenditures 227 00:17:15.040 --> 00:17:20.560 They are stressed about the amount of money they spend and yet they are the they're in complete control of how much they spend just spend less 228 00:17:21.360 --> 00:17:22.960 And you'll be less stressed 229 00:17:22.960 --> 00:17:24.480 So anyways 230 00:17:24.480 --> 00:17:26.960 That is my money money message for everyone today 231 00:17:28.160 --> 00:17:32.560 We still continue to less on live on you know 5% maybe 10% of what we make 232 00:17:33.600 --> 00:17:37.760 Why don't they we live on 10% we live on 5% of what we make and the thing is is like at that point 233 00:17:38.320 --> 00:17:45.600 If you live on if you live in 5% or 10% of what you make then it means that literally one year if you as like walk walk with me for a second 234 00:17:46.800 --> 00:17:48.800 If you live on 10% of what you make 235 00:17:49.440 --> 00:17:52.880 And your money grows at 10% then in one year you could retire 236 00:17:54.480 --> 00:17:59.280 Assuming you have a stable income from the the savings that you had on the other 90 right figuratively 237 00:17:59.840 --> 00:18:06.560 15 months whatever but you get the idea right that makes sense to everybody like if you live on 10% of what you make or you live on like 238 00:18:06.640 --> 00:18:08.560 You're like but man that's like poverty levels. It's like 239 00:18:09.440 --> 00:18:11.440 yes, but 240 00:18:11.440 --> 00:18:13.920 It's poverty levels in your mind based on your perception 241 00:18:14.160 --> 00:18:17.280 Not based on reality of the fact that you're going to be stockpiling 242 00:18:17.920 --> 00:18:22.080 Money that will continue to feed you forever along you want right and so 243 00:18:22.720 --> 00:18:24.880 The moral of this story is 244 00:18:24.880 --> 00:18:26.880 Spend less than you make 245 00:18:27.520 --> 00:18:34.000 The greater you can create that disparity the faster you can retire or get to a point where you choose to work on the things that only you want to work on 246 00:18:34.640 --> 00:18:39.200 Right and getting into the top 1% is literally a matter of saving 247 00:18:39.840 --> 00:18:42.880 A thousand fifteen hundred bucks a month and putting in the smp 500 248 00:18:43.920 --> 00:18:45.360 It's about it 249 00:18:45.360 --> 00:18:48.240 It's all there. I mean like that's that's it. It's all there is to it 250 00:18:48.800 --> 00:18:52.720 And the thing is is it's so simple no one will do it 251 00:18:53.760 --> 00:18:56.240 And that's okay, but you were smart cookie and you're gonna do it because 252 00:18:56.960 --> 00:19:01.920 Um, you think that simple things are usually the keys to the universe which I agree with you 253 00:19:01.920 --> 00:19:04.000 So keeping awesome lots of love