How To Become A Millionaire: Build Wealth Starting With $0 | Jaspreet Singh (Replay)
Tom Bilyeu's Impact Theory
Impact Theory
4.7 • 5.2K Ratings
🗓️ 6 June 2024
⏱️ 159 minutes
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| 0:00.0 | Everybody in America should be a business owner. However, not everybody should be in the business of starting a company and not everybody should be in the business of operating a company. |
| 0:09.0 | So what does that mean? Well, you can be a worker and an owner, right? This concept of equity, you have to understand this because wealthy people are working for equity, they're not just working for a salary. |
| 0:21.3 | Bringing this back to the idea that there are habits that keep people poor. So one of them is |
| 0:25.9 | living and thinking in cash. And so if you're storing your money in cash, you're not buying |
| 0:31.3 | assets like you were talking about earlier, things that you purchase that give you money, |
| 0:34.8 | the company that you're talking about building now, the company that I built, those are assets, apartment complex and asset potentially. |
| 0:41.2 | There's actually some complexities there. |
| 0:43.8 | But buying into the stock market, right, assets. |
| 0:46.6 | Right. |
| 0:47.6 | So if you're thinking in cash and the cash supply is being inflated, then you're buying power |
| 0:52.3 | is going down. |
| 0:53.3 | So going back to your point about the poor getting poorer. So we're pulling down their buying power. And then also just the way that you start thinking like an entrepreneur about like, I don't have the upfront capital. This is another mistake people make. Oh, that's okay for people that are already rich. They can do things that I can't do. But you weren't thinking that, right? |
| 1:11.7 | So you, I'm sure went to people and they said, okay, cool, give us up from money. You didn't have it. So you go on to the next person. But because you keep going until you find the person that's like, okay, word, like come in, throw your party. I'll take half up front. You even find partners, again, paying them in equity. |
| 1:26.5 | You're paying them with future money that you don't currently have. |
| 1:28.8 | Right. |
| 1:29.1 | Like that one thing alone is a huge habit difference |
| 1:33.9 | between people who think I trade time for money, right? I go and I work. I give you my time. You |
| 1:40.7 | give me that money. Nothing wrong with that. It's the path that most people will |
| 1:44.3 | take. But for people that really want to understand what we're about to go through, because |
| 1:50.1 | this could be nothing. And a year from now, we look back on this video and we think, whew, thank |
| 1:54.6 | God that it didn't get as bad as it could. But we could also be headed into a recession, |
| 2:00.0 | like a deep global recession that could last a year or two years or more. |
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