5 Proven Ways to Become a Millionaire | Tom Bilyeu (Replay)
Tom Bilyeu's Impact Theory
Impact Theory
4.7 • 5.2K Ratings
🗓️ 30 August 2024
⏱️ 108 minutes
🧾️ Download transcript
Summary
On Today's Episode: What these five guests have in common is that they figured out what it would take to get rich and once they got the core principles down, built their foundation, and went to work on being relentless about becoming world class, wealth became a byproduct of doing whatever it takes.
Do you have the grit to tie your identity to the person you need to become to reach that next level?
Jaspreet Singh is the CEO and founder of Money Mindset and Market Briefs. Check out the full Impact Theory episode with Jaspreet Singh: https://youtu.be/42k9vH3OXI0
Brendon Burchard is a best selling author and a world renowned motivational speaker and high performance coach. Check out the full Impact Theory episode with Brendon Burchard: https://youtu.be/Q-xVb3V_zqI
David Meltzer is a speaker, author, investor, and co-founder of Sports 1 Marketing. Check out the full Impact Theory episode with David Meltzer: https://youtu.be/yT98z1iTHnU
Glenn Stearns is the CEO and Founder of @kindtpo and a serial entrepreneur that has starred in Undercover Billionaire. Check out the full Impact Theory episode with Glenn Stearns: https://youtu.be/M7xylRAp_uw
Ken Honda is an entrepreneur and best-selling author of the book, Happy Money. Check out his full Impact Theory episode here: https://youtu.be/PtifGrHy60g
[Original air date: 9-8-22].
SHOW NOTES:
0:00 | Introduction
0:20 | Make Your Money Work For You
24:37 | You Need It vs. Just Wanting It
39:43 | Signs You Will Be Rich
1:05:13 | Billionaire Lessons You Need
1:30:22 | The Secret to Wealth
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What's up, everybody? It's Tom Bilyeu here. If you're serious about leveling up your life, I urge you to check out my new podcast, Tom Bilyeu’s Mindset Playbook —a goldmine of my most impactful episodes on mindset, business, and health. Trust me, your future self will thank you.
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Transcript
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| 0:00.0 | You don't want to just not save any money. You got to be strategic with it. |
| 0:03.0 | There are three reasons why you should be saving money. You save money for an emergency. Save money for a big purchase. You want to buy a car. You want to buy a house. You need some cash to do that. Save money for an investment. If you're not saving money for one of these three reasons, you are saving your money the wrong way and your savings are literally making you poorer each and every day. while your friends were spending their money at a party, |
| 0:23.6 | your spending money the wrong way and your savings are literally making you poorer each and every day. While your friends |
| 0:21.7 | were spending their money at a party, you're spending money on building a business. Right. Like that |
| 0:27.2 | fundamental difference of spending it on fun shit that goes away. Yeah. Or equity, in this case, |
| 0:32.9 | your own company, is a world of difference. Yeah. So I just want to anchor everybody back around to those like |
| 0:38.8 | money habits you've got what all my mom would have called pissing money away, right? Literally |
| 0:43.9 | an alcohol. You're just pissing that money away. Or putting it into something that's going to go |
| 0:49.3 | to work for you. In your case, it was a business. It was real estate. If people can just grab that fundamental difference like of hey start thinking about the world in this different way they're |
| 0:59.9 | going to be a huge step forward and it's all a learning process because I don't drink I don't smoke |
| 1:04.2 | I never drink but for me it was the only it was it was a hustle right it was the only way that I knew |
| 1:10.0 | to kind of start making some money |
| 1:12.9 | and so it's how you start and you learn and each one of the things that you kind of do you're going to |
| 1:18.0 | learn something new and you're going to be able to apply that to the next thing and it really is that |
| 1:22.4 | shift you know I call it the minority mindset thinking differently than the majority of people |
| 1:26.2 | because it's it's doing something |
| 1:28.1 | different. Most of us are taught just to be consumers. Trade time for money, go buy cool things to flex. |
| 1:33.5 | Exactly. And that's it. We're never taught to do anything else. And I mean, think about the last time |
| 1:38.0 | your teachers taught you about the importance of investing your money. They don't know how to do it either. |
| 1:42.3 | Exactly. They couldn't hope to teach me. And so that's where you have to be willing to go out of your way to learn how some of these things work. Because if you don't, you're just going to be a pawn in the system. And it's very unfortunate. It sucks. And this is where I'm trying to help provide that education because these are things I never grew up learning. These are things that I wish somebody would have told me. |
| 2:01.8 | You know, I see it. I see it as so many people. I used to guest teach in Detroit public schools. |
| 2:07.7 | Whoa. And, you know, these are good kids from rough areas. A lot of times don't have two parents in the home. |
... |
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