How you can PRACTICALLY retire with $10,000,000

The money that you make has one purpose and it's not to increase your status and it's not to make you money. It is to give you peace of mind. It is to grow in the background so that you are completely free to be aggressive in the business pursuits that you decide to go after.

I have this joke that I like to tell where I say that entrepreneurs are like magicians. They make money appear out of thin air. The thing is, is that they also make money disappear right where it came from. Now, I know this because I've done both of these things and so have a lot of my friends. I have made and lost millions of dollars. I know people who have made and lost more than that. And there's a reason why I've discovered why I've done that and other people have done that. And there are much smarter ways to, to protect and grow your wealth once you've made it. Now, if you're watching this video and you're a new entrepreneur or you're still on your path to your first seven figure business, you're in the right place. That's what we talk about here on the channel. But it's very important for you to know what you're gonna do with that money once it's coming. Because otherwise it will go back right where it came from, which is the middle of nowhere. Or more specifically, other people's pockets and not yours. So let's fix that. In this video. There have actually been psychological studies done on people's brains to see how their mind is affected by getting more money. And what they discovered is that human beings have this story in their brain that once they get to a certain amount of money, they will consider it safe or they will consider being done, or that's enough. But what they found is that that gap never really closes. It just sort of moves like the end of a horizon. The more money you make, the more that moves. Now when I first heard that, I thought maybe that's true for other people, but that is not true for me. If there's a million bucks in the bank, I can invest that and only get 3%. And I'm perfectly happy living on $30,000 a year in a one bedroom apartment. No problem. Except that's not how it goes. One of those reasons is because your lifestyle expands. Another is because the world expands. Inflation goes up. You have kids, your living expenses go up. The expenses that you make don't feel like they take from the total pool. So you buy the Lambo and all of a sudden part of that money's gone. You buy the condo and part of that's money gone. And then all of a sudden you've only got a much smaller amount of money to work with than you previously estimated for. I've only seen this happen all the time with entrepreneurs who have this story about what money is going to do for them and how it's going to change their lives. And as soon as they get the money, they have to spend it on the things that give them that same sense of change that they expected the money to do. I know you don't care about any of this. You're like, boo hoo, rich people problems. Just give me my $10 million that I can learn this mistake mistake on my own. Please learn this mistake through other people. Because if you get this, the $10 million will actually come much faster. I did a video, we'll link it somewhere around here where I talk about how to get rich. Making only $50,000 a year. And you can, and I mean really rich, I mean like an eight figure net worth. And if you were simply just able to park a little bit of your cash into long term investments that you never touch, that compounded at attractive rates, not crazy rates, but attractive rates, you can become a multimillionaire, maybe even a Deca millionaire, that's making $50,000 a year. And that's assuming your income never went up. That's assuming that you never went out and got more skills. That means that assumes that you didn't go and buy the big crypto that goes up 100x. It's just consumption consistently over time. But entrepreneurs think differently. Entrepreneurs are wired to go for the short term opportunity. They look for those entry points that other people can't see. It's what makes us so good at spotting trends, spotting where there's opportunity in the marketplace, looking for niche markets, searching for keywords that have a lot of searches but not a lot of competition. These are all things that drive us to find those great opportunities. But they make absolutely horrible investment guides. It makes absolutely no sense to invest the same way that you act as an entrepreneur. And this is why entrepreneurs run out of money. This is why entrepreneurs start businesses and they're profitable, but they're still financially hurting. This is why people can have exits, but the money they made from the exit goes away. Now, I did some of this, thankfully I was wise with about half of the money that I made from my big exit. But when I sold my company, I also took about half of my money and said, you know what? I'M smarter than the market. I'm smarter than your average person. I know a trend when I see one. I'm going to invest this and I'm going to beat the market and I'm going to double the exit money that I got. And the opposite happened. I lost all of that. And the money that I put into long term, never touch it, assets has gone up and up and up and up. And thankfully my net worth has actually probably gone up as a result of this continuing to grow. But I would be way, way wealthier if I had had the mindset of an investor when I went to invest my money rather than the the mindset of an entrepreneur. Make your money in business, Be aggressive in business. Still think long term and plan for it. But treat your investment part of your life as its only job, is to give you peace of mind. That's its only job. The money that you make has one purpose and it's not to increase your status and it's not to make you money. It is to give you peace of mind and it is to grow in the background so that you are completely free to be aggressive in the business pursuits that you decide to go after. So how do you do that? Well, this is not financial advice. I'm not a financial advisor. I've lost lots of money, so you shouldn't listen to anything that I have said. But in my experience, when it comes to working with an entrepreneur and seeing how they should allocate things to give them peace of mind, they may want to consider starting the foundation of their portfolio with the most boring investment possible. For example, I was having lunch with a friend of mine who is notorious for making lots of money and then losing lots of money. And he was asking, hey, what are you investing in? What do you think I should do with my money? And I said, do you have half a million dollars IN S&P 500 index funds? And he said, oh, why would I do that? That grows at like 8 or 9% a year. Yeah, well, that's why you keep losing money. Because if you had just done that several years ago, that would be worth a lot more than it is today. And you wouldn't have put it into that weird project that went nowhere. But in your mind you were able to justify it because you're an entrepreneur and you're gonna make it work. But we all know that we strike out nine times before we hit a home run. So what are the chances of you taking your money that you made from your one home run and betting it right on the next one, 10% and a 90% shot that you're going to lose all of that. But if you put it into long term investments that you're not going to touch, much higher chance of not necessarily success, but definitely not failure. The second thing that I asked him was if you've got your index funds, your super safe, not going to touch it money, your emergency fund if you will, do you then have a list of dividend paying stock stocks that are just, you know, sending you passive income of 4, 5, 6% a year? No. That sounds boring too. Yep, it's just one step more exciting than boring index funds. And then after that it's things like growth stocks that you like. If you like Tesla, buy Tesla. If you like Coinbase, buy Coinbase. But that plays that piece of that portfolio, not the entire basis of it. And then the final piece is the things that you might be speculating on. And some people would say that is certain cryptocurrencies, I.e. iPOs, more speculative stocks. But most entrepreneurs go the opposite direction. They're trying to pick the winners of the cryptocurrency that's going to boom or the stock that is going to have a big win versus building a really big basket of assets before they have the safety and security to pursue those shiny objects. No wonder we feel scared all the time. No wonder we lose money because we're chasing opportunities that we should be keeping reserved for our entrepreneurial career rather than protecting our wealth. As an investor. I am not perfect at this point, at all. I learned by making mistakes. I run into that wall and say, well that frickin hurt. Not gonna do that again. Actually let's try it one more time. And that's how I learned, and I have now learned that the way that I've approached investing several years ago when I first got my big check, was not the healthiest way to do that. And sadly all of that was just a reflection of my mental state. It was a reflection of I've got to make more money, I've got to make more money to feel secure. I've got to make more money in order to increase my status in the eyes of other people. Whereas if I had known that the real magic was in my, my peace of mind, my ability to stay calm and relaxed and that my investment portfolio could do that, I could go make all the money I wanted because I was freed up to pursue the things I wanted to pursue. That's when life as an entrepreneur gets really fun because you get to go do the things that are exciting for you and you don't have to do things for money. But if you're always pursuing the next opportunity, the next white space, then you're never really free. And that's ultimately what we want. So. So that's why entrepreneurs lose their money and how you can retire with millions of dollars in the bank. If you watch this whole video and you're like, that sounds great, but I don't have a business that's spitting off the cash flow. For me to be able to follow a plan that sets me free, you're in the right place. We help entrepreneurs build million dollar businesses. We put them through a plan that looks like choosing four products, getting them to 25 sales a day at a $30 price point, that's 100 sales a day at a $30 Price Point, that's $3,000 a day, which is just over a million dollar business. That's what we're really good at here on this channel. So hit the subscribe button and if you want to dive in deeper and see how you can actually start getting moving, you can find the resources in the description of this video. Thank you for watching this video. I'm Ryan. Daniel Moran. I'll see you next time.