Dean Graziosi talks with Mark Victor Hansen and David Bach. Mark suggests writing 101 goals in 20 minutes to clarify your vision. David recommends refinancing to a 15-year mortgage, paying yourself first through retirement accounts, and setting up regular giving.
Hi, this is Dean. Welcome back to this week's blog.
Hey.
I'm standing here on my set, I'm helping two amazing guys film a show to get a great book out to the world where people need it. I'll tell you about that in a second, but I'm here with Mark Victor Hanson. You might know Mark, he's the co creator of all the Chicken Soup for the Soul series. The One Minute Millionaire. Sold a gazillion books and really a great guy. I'm also here with Mr. David Bach. David's got like 7 million books in print, 9 New York Times best sellers. Just an awesome guy out there trying to help the world get out of debt and use their finances in a way where they're set for life, where they can take their life to another level. But we're doing an interview here because David's selling his brand new book, gonna do a national show with Mark. I let him use the studio. We're sitting here having a great time. So I just wanted to say really quick hi to everybody and maybe, Mark, if you have one thing to say to my viewers, the people who are watching this are my students who have bought my book, wanna change their life. There's so many incredible people, every week they watch this blog, thousands of people changing their lives. If you had one little tip to give people on success, what would it be?
Solomon said, without vision you perish. I say, with vision, you flourish. And the way to flourish is figure out what you want and just put it in writing. And where I disagree with everybody else's, everyone says write one thing. Like I want a new car. I want to be debt free. I want to pay off my house, whatever. I ask you to write too many goals. But start with 101. Give yourself 20 minutes as a thought command and they'll start to click and then never cross them out. I got the milk, the eggs, the butter. Write down victory. And you write it down in purple or lavender. That's the highest spiritual color in that rainbow.
So you're saying write 101 goals, 20 minutes. 101 goals in 20 minutes.
What do you want in your heart of heart? What is on your bucket list? You all saw the movie with my two heroes, Jack and a little guy named Morgan Freeman, who's probably the best actor in history.
So write your bucket. Let's write 101 goals in 20 minutes. David, how about you? I know you have a lot of expertise and success and all the great things you've done, but if there was one Thing you could either share one thing on success or one thing about getting out of debt. What would you share with Mike?
Well, let me do this. Can I share three things?
Yeah. All right.
So you know, people always know what's the secret to building wealth. You've got a lot of people here who are obviously invest, they're real estate investors. And here's what I would say. The best decision you can make on your mortgage is to pay these mortgages off early, whether they're an investor, property or personal property. These are the lowest rates we've ever seen. So you know, the government wants us to refinance our homes, save money each month, and then go spend that money. What I'm teaching people right now is refinance those homes, but refinance down to a 15 year mortgage or when you refinance, keep making the same payments, you'll take a 30 year mortgage and you'll pay that off maybe in 20 years, saving 10 years off that mortgage, which.
Is tens of thousands of dollars, tens of thousands.
For some of you, some of the people who are watching, it could be six figures. So that's crunch that debt down faster. The second thing is this. You have to pay yourself first. You and I have talked about this so many times, but the secret to building wealth is is to pay yourself first automatically. And that means you've got to make sure that when money's coming in, the first person that gets paid is you using that 401 plan, IRA or self employed IRA. And the third thing I would share with you is this. People who really want to build real wealth always give money back. They always give money back. When I've gone out and studied the wealthiest people in America with a high net worth, net worth of over $10 million, the one thing they all have in common is they started giving money back before they became rich. So part of your investment plan should be a give back plan. I don't care what the percentage is. I never tell people, well, you should give back 10% of your income. That's for you to decide. What I tell you is pick a number, pick a percentage, percentage of your gross income, pick a charity and have that money going out every month to help other people. When you do, it makes you feel good. It makes a difference in the world. It makes building wealth more fun. It comes back, comes back tenfold. Every time I give money, better things happen to me. It's an incredible thing. So those are my three tips. Awesome.
Well, David and Mark, thank you guys. I appreciate it. Thank you very much. Hey, guys. This is David's new book. It's in bookstores debt free for life. You know that I never recommend anybody's books. I don't push other people because I really, a lot of people I don't have faith in and if I don't know the person, I won't recommend it. David's a good friend. Great guy, great book. Listen, here's the deal too. We talked about it today. I just watched these guys interview for over an hour. You're learning how to make money in real estate and so many of you are already on your way. One really good thing is you don't have to worry about paying your debt down and then work on making money. You can do them simultaneously. So learn the techniques. Get out there making money in real estate. You got debt. Get David's new book. Thanks everybody for watching. I'll see you next week.
