3 Lessons for Happiness and Money
Capitalism.com with Ryan Daniel Moran
Capitalism.com
4.8 • 802 Ratings
🗓️ 12 April 2021
⏱️ 14 minutes
🧾️ Download transcript
Summary
"First, I'll make the money. Then, I'll live a better and happier life." That's the lie so many entrepreneurs buy and live. Not because they want it that way, but because that's the message so many of us hear.
Granted, there's a certain amount of hustle needed to get through the grind phase of any business. But that doesn't mean you need to put off happiness while you "work your face off" to grow your business.
It might even be fair to say that all the tactical advice you've heard about what it takes to make money misses the point entirely. The perfect ad, the right product, the best sales copy… all of that has its place. But those are not the most important puzzles to solve.
Instead, when you learn to ask THIS one question first, all of the others fall in line. Not only will you find it easier to get wildly rich, but you'll be a whole lot happier along the way.
Transcript
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| 0:00.0 | There's plenty of advice about how to make more money, and there is plenty of content out there |
| 0:07.3 | about how to be happier, how to live a better life. But it's rare that a lesson does both. For most, |
| 0:15.2 | it's first I will make the money, then I will live a better life. And to some extent, there's truth to that. |
| 0:23.3 | When you aren't sure where your next meal is going to come from, pursuing money is a good idea. |
| 0:29.2 | But for the most part, we tend to put happiness or money as a later thing while we work on just |
| 0:37.0 | one of those two things. If you can be happier |
| 0:40.4 | and richer at the same time, wouldn't you make that the centerpiece of your focus? |
| 0:47.4 | Wealth is an inside-out game. That's the first lesson. Now, I wish that this wasn't true. I wish that there was an outside |
| 0:58.1 | set of circumstances that led me to wealth. That would make wealth a lot simpler, but that's not |
| 1:06.0 | true, at least in my opinion. Wealth is a direct reflection of your mindset and how you show up. |
| 1:14.5 | Now, what does that mean? Let's take a practical example of this. If you look at the stock market, |
| 1:20.9 | the stock market is one of the ways that some people have generated a lot of wealth. The number one indicator of generating wealth |
| 1:30.8 | in the stock market is time in the market. For example, if you had bought stocks at the peak |
| 1:40.7 | before the big crash in 2008. And you had held your money for all of this time. |
| 1:50.4 | Meaning if you bought on the absolute top of the market in 2008 and experienced that big crash |
| 1:56.7 | where the stock market fell by 50%, but you heldled until today, you'd be up more than 200%. |
| 2:07.1 | Time in the market is the greatest indicator of whether or not you're going to build wealth. |
| 2:14.0 | But most people don't show up to the stock market with that mindset. |
| 2:18.9 | They don't think about it as a long-term play. |
| 2:22.2 | They think about it as how can I make short-term money? |
| 2:26.0 | How can I get a profit as fast as possible? |
| 2:29.1 | This is also true in business. |
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