147: How To Invest Outside Banks and Wall Street with Patrick Donohoe of The Wealth Standard – Empowering Individual Financial Independence
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 27 June 2018
⏱️ 45 minutes
🧾️ Download transcript
Summary
#147: You're going to live longer than your parents and ancestors. Half of today's retirees will live into their 90s. That's good...if your finances can support your lifestyle.
Patrick Donohoe, Founder and CEO of Paradigm Life, is our guest today.
Debt is vital to wealth creation. We tell you why.
Inflation vs. Deflation: this "Economic Tug Of War" is discussed. It's deflationary globalization versus inflationary dollar-printing.
Patrick tells us how to bank outside the banking system via the Perpetual Wealth Strategy.
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Listen to this week's show and learn:
01:00 "Formal education will make you a living. Self-education will make you a fortune." -Jim Rohn
06:08 Patrick Donohoe interview begins.
09:24 Retirement: is the very idea "anti-life"?
12:36 Buying time vs. selling time. Wall Street vs. Main Street.
16:06 Hanging around the same people equals the same results.
17:26 Debt.
25:17 Inflation vs. Deflation.
34:26 How to "be your own bank".
Resources Mentioned:
Transcript
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| 0:00.0 | Get Rich Education is brought to you by Norata Real Estate and GRE Turnkey.com. |
| 0:10.0 | Welcome to Get Rich Education with Keith Weinhold, giving you information and ideas on the investment that has turned more ordinary people into millionaires and billionaires than |
| 0:22.1 | anything else and can provide you with more wealth and happiness than you ever thought possible. |
| 0:28.4 | Now, here's your host, investor, entrepreneur, business owner, and educator Keith Weinhold. |
| 0:39.3 | Hey, welcome to GRE. Get Rich Education episode 147. I'm your host, Keith Weinhold, back to help |
| 0:45.4 | you build your wealth, and thank you for joining me across 182 world nations from Finland to |
| 0:51.6 | Fiji to France, but you're not here for me, you're here for you. |
| 0:56.7 | Get Rich Education is a self-education. It sort of plays into the Jim Rohn quote. |
| 1:02.2 | Formal education will make you a living. Self-education will make you a fortune. |
| 1:08.3 | Get-rich education is a self-education. There is so much opportunity for you out there. |
| 1:14.9 | It doesn't matter what college you went to or it doesn't even matter whether you went to |
| 1:20.1 | college or not. It doesn't matter what your grandpa's last name is. You don't have to follow the path. |
| 1:28.9 | You don't need to be on some career track. |
| 1:31.5 | It's really about not being a conformer. |
| 1:35.2 | Do you really want to be a conformer in your life? |
| 1:38.7 | It takes courage to live the way that you want to, |
| 1:41.8 | and I'm telling you to take a step in that other direction. |
| 1:46.1 | Truly, truly, fear and doubt destroy more dreams than failure ever does. |
| 1:52.6 | Yes, fear and doubt destroy more dreams than failure ever does. |
| 1:56.4 | Being wealthy is unconventional, kind of like I mentioned last week. So you can either be conventional |
| 2:03.2 | or you can be wealthy. Well, what's unconventional then? Well, for you, it might be living in |
| 2:10.7 | Southern California and investing in Birmingham, Alabama, single family homes. That's not |
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