91: A Rich Man Digs For Gold
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 8 July 2016
⏱️ 44 minutes
🧾️ Download transcript
Summary
#91: While a rich man digs for gold, a poor man is concerned with the cost of a shovel.
Learn how to think like a wealthy person, and make it actionable.
Learn what Keith did during his typical week. Doing this yourself will build your wealth.
Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities.
Listen to this week’s show and learn:
02:50 Most financial advice is flawed and limiting.
04:14 Are you living your dreams or living your fears?
06:50 Delayed gratification.
09:00 401(k)-type contributions crush your current lifestyle. So what’s the answer?
12:38 Why would anyone contribute to a 401(k)?
15:13 Here’s exactly what Keith did this week himself that can build your wealth.
18:17 Actionable step on how to increase your property’s cash flow. (Loss runs.)
24:54 Keith applied for a 100% loan-to-value HELOC on his own home. He wants every last penny of equity pulled out of his home. Here’s why.
30:42 Refusing a REIT advertisement.
31:57 A smart GRE listener has these two great questions for Keith: reserves, cutting expenses, living below your means.
38:35 A new way to think about real estate problems.
40:04 Looking for turnkey income property? Do this.
Resources Mentioned:
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Transcript
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| 0:00.0 | Get Rich Education is brought to by Norad of Real Estate, Corporate Direct, and Mid-South Homebuyers. |
| 0:08.4 | Garrett Sutton here, Robert Kiyosaki's Aset Plotection Attorney and the author of Loopholes of Real Estate. |
| 0:14.6 | As an American or foreign-based investor in U.S. real estate, you know we are a litigious society. |
| 0:22.2 | You know that you need to protect your real estate and paper asset holdings with the right mix of LLCs and corporations. |
| 0:28.6 | My firm Corporate Direct not only forms these entities, but importantly, we properly maintain them, too. |
| 0:35.4 | If you fail to follow the corporate formalities, you can lose it all in an instant. |
| 0:40.7 | Corporate Direct is your source for LLC protection and maintenance in all 50 states. |
| 0:47.0 | Visit CorporatDirect.com or call 800, 600, 1760. |
| 0:52.6 | Mention Get Rich Education for a free bonus. |
| 0:55.8 | Switch your resident agent service to us and receive another bonus. |
| 0:59.6 | It's all good. |
| 1:00.8 | We look forward to assisting you at CorporateDirect.com. |
| 1:09.0 | 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 anything else, and can provide you with more wealth and happiness than you ever thought possible. |
| 1:30.0 | Now, here's your host, investor, |
| 1:41.2 | entrepreneur, business owner, and educator, Keith Weinhold. This is Get Rich Education. Welcome into episode 91. It's Keith Weinhold again. You probably know that already |
| 1:47.7 | because I'm back for another week to help you build your wealth. I know of a great quote |
| 1:53.7 | that reminds me of you and reminds me of this show and that is this. A rich man digs for gold. A poor man is concerned with the price of a |
| 2:05.8 | shovel. Again, a rich man digs for gold. A poor man is concerned with the price of a shovel. |
| 2:13.3 | We can surely insert the word woman for man in there as well. More on that in a minute. It's just |
| 2:19.2 | going to be you and I today. On the last several shows, we've had a great run of guests that have |
| 2:24.1 | totally added value to our lives and perspective to our wealth building. It's time for a one-on-one |
| 2:29.6 | here again, just you and I. Today we're going to talk about how wealthy people think and how you can think like them. |
... |
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