The Untold Truth About Money: How to Build Wealth From Nothing.

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Published 2020-04-16
There is an untold truth about money – an actual equation that allows you to build wealth from nothing.

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)
  • The problem today is most people always think that, you only need a good job to get rich... These millionaires are operating on a whole other playbook that many don't know exists
  • @chris-pj7rk
    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?
  • I've just completed the sale of a property located in Portland and I'm considering reallocating the resulting funds into the stock market. Despite prevailing sentiments regarding its readiness, I'm unsure about the timing of stock purchases. How long until we witness a full market recovery? Furthermore, I'm puzzled by the methods allowing others in the same market to achieve gains surpassing $200k within months.
  • @mikey43221
    Creating wealth entails establishing positive routines, such as consistently setting aside funds at regular intervals for sound investments. Financial management is a vital subject that many avoid, often leading to future regrets.
  • 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.
  • Fact, No one way to Wealth, just understand the key. 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?....
  • @GorkemHernandez
    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
  • @avan1683
    Apple's Equation: Don't chase money. Create a Problem. Create a Solution. Sell it to the market.
  • @leondonald
    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.
  • @Moore482
    James is amazing. “How to build wealth”
  • 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.
  • If this channel was a stock, I'd put a lot of money in it. Wait, I'm still at wealth level = nothing. :-( Also, here's my summary (I always summarize the videos I consider most useful): • Check your beliefs about money. ○ Money is not bad, don't buy into that stereotype. ○ Studies: Most millionaires are self-made. • Your equation ("money = salary from a job") is wrong: ○ How much u earn from ur job depends on the time u put in - e. g. $20/h fulltime job -> 24 yrs to $1M (before expenses!) ○ Time = most precious resource -> that's a bad deal! • Rules of the game in a capitalist society: ○ You're paid in proportion to your perceived value (= equation to wealth) - The ppl that perceive ur value = the market (aka everyone) - It's about supply & demand (think: utility/value, price, efficiency, excess/scarcity etc.) - It's not about how hard u work, your passions etc.; the market doesn't give a fck □ That's why e. g. celebrities are paid more than cleaners - Pivotal question: How can I increase my (supply's) perceived value? ○ All money runs from this premise: If u want money, solve problems. - Million-dollar problems -> million-dollar solutions etc. - Always start w/ the problem: Listen to the market around u - What do ppl say they dislike/wish existed/is inconvenient/frustrating etc.? - Tip: Solving more/better problems @work = lever for a higher salary • A problem worth solving ○ Scalability: solution needs to affect a magnitude of people - e. g. physical yoga classes (job) -> online course (business) ○ Automation: systems/processes keep ur business running like a smooth machine ○ If it financially makes sense, outsource tasks or hire ppl to do it for you ○ Make sure your solution can be accessed by everyone in your market • The reward (two paths): ○ Continue the business for whatever reason (e. g. stick w/ ur baby; add more value to it; runs passively in the background) ○ Cash in, e.g. eBay's acquisition of PayPal for $1,5B (ca. 10% -> Elon's pockets) • What was it all for anyway? ○ It's not about the money itself (whose value is only backed up by our belief in it anyway) ○ It's about freedom -> ability to do what u want whenever u want w/o having to worry ("can I afford this?", "have I used up all my holidays this year?" etc.) ○ In the end, it's about the most valuable resource that we cannot rebuy: Time! • Conclusion: ○ Stop chasing money. Chase problems. Find solutions. Build a business around it. - Let solving problems be the meaningful struggle in your life! ○ Keep in mind: Most attempts will not succeed - Fail fast & move on to the next thing
  • @bobbymainz1160
    For first-time investors, it cannot be stressed enough how important it is to invest hard-earned money in the stock market rather than a bank where interest is guaranteed! The market appears out of control, the times are unpredictable, and the banks are deteriorating. Could there be a chance for a boomer like me? I'm working on a rough estimate of $5M for retirement, and I have a healthy six figures saved up for this. I'm almost 60.
  • @KevinEvans-mq4ob
    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?
  • @RossiPopa
    Just discovered your channel with this video -- I was able to think about my situation and I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $90K per year but nothing to show for it yet.
  • @RushiBShahGPlus
    "Stop chasing money. Start chasing solutions to problems everyone faces." The biggest takeaway from this video.
  • @Greghilton3
    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.