The Untold Truth About Money: How to Build Wealth From Nothing.
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Published 2020-04-16
It’s an equation that is hardly taught in schools if at all, and is often overlooked by those who are trying to get rich, or achieve their dreams of “financial freedom”.
In this video, we’ll take a look at exactly what that equation is.
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DISCLAIMER:
This video was heavily inspired by the works of MJ Demarco, author of “The Millionaire Fastlane”, and “Unscripted”, as well as my own opinions and observations on how society functions on a monetary level. Of course, the subjects of money, and entrepreneurship are far too vast to cover in a single YouTube video, so I have tried to condense this information as best as I can. Enjoy 😊
THE MYTHS ABOUT MONEY
Everyone wants to know how to be rich, but when it comes to wealthy people the media and Hollywood have a habit of depicting them as cruel, evil, corrupt, or backstabbing individuals.
But the real question is whether you believe this stereotype.
Most of what you think about money has been influenced by your upbringing and surroundings. If you grew up poor, then you’re more inclined to believe that your financial future will remain under such circumstances. Or perhaps you decided to make it your goal to generate as much wealth as possible so you will never grow up in those conditions again – either way, it’s important to note that we may have false beliefs about money which will not serve you well if your goal is to become rich.
THE EQUATION TO WEALTH.
In a capitalist society, you are paid in proportion to the perceived value that you have.
This is very important to understand and can explain many reasons as for why people are paid differently. The cleaner is paid less than the accountant because the cleaner’s job is not difficult to learn, and they can easily be replaced. The accountant on the other hand has spent years studying numbers, and has saved their clients thousands on taxes. The market perceives the value of the accountant to be higher, and therefore the accountant makes substantially more money.
And yet the problem with a job is that your income is time-bound. It requires your time to generate wealth, and only at an old age can you truly reap the rewards of the wealth that you’ve built – if you’ve built any at all.
How then are there millionaires or billionaires at such young ages? What is it about people like Elon Musk, or Jeff Bezos that make their perceived value so high?
The next part of this equation is as follows: if you want money, you must solve problems.
All money runs from this basic premise. If it solves a problem (depending on what the problem is), money will be thrown at it.
If it’s a million-dollar problem, then the solution will make you millions.
If it’s a billion-dollar problem, then the solution will make you billions.
Truth is: if you’ve been chasing money, then you’ve been doing it all wrong. You need to chase problems, and more importantly, solutions to those problems.
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All materials in these videos are used for educational purposes and fall within the guidelines of fair use. No copyright infringement is intended. If you are or represent the copyright owner of materials used in this video and have a problem with the use of said material, please contact me via my email in the "about" page on my channel.
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Copyright © James Jani 2020
Prologue - 00:00
Part 1: The Lies You've Been Fed - 03:20
Part 2: The Truth About Money & Wealth - 06:25
Part 3: A Problem Worth Solving - 09:37
Part 4: The Reward - 11:32
Part 5: Your Money or Your Life - 12:40
Conclusion - 15:03
All Comments (21)
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I am regretting not investing in digital assets ever since but still grateful i kept money in the money market. With about $200k maturing soon, i plan investing in the market. What coin should I look into as a newbie to safely grow my money?
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can someone like this so I came come back to this?
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I began my investment journey at the age of 33, primarily through hard work and dedication. Now at the age of 38, I am thrilled to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity.
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I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises of plummeting stocks which were once revered and i don't know where to go here out of devastation
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My father told me that I needed to choose a career (like him, law), suffer and sacrifice until I was 40 years old. Then I could start living. I would have killed myself by the time I was 35 years old. Now at 65, I am healthy and happily married for 22 years (for the first time). I took SS at 62, but am still working for my wife's family business at our $1.3 million home, after travelling the world. Fango la tierra. Live life today, because you may not have (or want) the time.
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James is amazing. “How to build wealth”
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I'm excited to be here in your channel and I'm interested in learning more about investing and saving up for my retirement but am a little confused about the whole process. Any advice or tips to get me started up would be greatly appreciated
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This video is like a crash course in topic, and I couldn't be more grateful. Thank you! Im normally not big on shoutouts in comments, but Borlest is a gamechanger. It's got all these cancelled undercover money books that'll blow your mind. Trust me, it's like unlocking a secret vault of financial wisdom. Do yourself a favor and give it a peek.
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"Stop chasing money. Start chasing solutions to problems everyone faces." The biggest takeaway from this video.
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Apple's Equation: Don't chase money. Create a Problem. Create a Solution. Sell it to the market.
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Love the message. Wealth is a state of mind. When I focus on gratitude and enjoying today, money finds it way to me much easier and more enjoyable. Everytime I play the game of adding another 0 to my net worth, it always starts with the inner work.
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100%. I want to not only stay ahead of the game, but to thrive in the age of artificial intelligence. I am very excited about what the future has to offer. We truly live at a very cool time in history. My attitude is that if we ignore all the BS going on in the world and focus on the good stuff then our lives will improve by leaps and bounds.
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I can imagine this guy producing, writing, directing, editing, and acting in his own damn movie and it would still sell.
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When he said "and then there's you" I felt that
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if the idea is to build an income stream to use as complement for retirement, or at any given point if needed, then building a dividend growth portfolio always buying adding to it could be a good and peaceful path. On the long run consistency and perseverance could guaranty the desired income stream goal with little worries
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In light of the current volatility of the stock market, I believe investors should be concentrating on undervalued companies. Currently, 35% of my $270k portfolio is made up of once highly regarded stocks that are now falling, and I'm at a loss for where to turn from this devastation.
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“The market doesn’t care about your passions.” That truth hurted 😅
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I've just retired recently and I must say I found this video informative and great to review. These psychological concepts are much more useful for individuals attempting to avoid mistakes than I realized when I was first introduced to them. This is probably why Warren Buffett talks so much about temperament being crucial to his investing success.
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As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?
