Short talk by John Assaraf describing four core components of financial success: earning, managing, investing, and preserving money. He emphasizes skill development and mindset (confidence, certainty), using a money-management plan (allocations, tithing, bills), disciplined investing (regular contributions, compounding, long-term horizon), and wealth preservation (tax planning, asset protection, intergenerational transfer). The piece is instructional and promotional, pointing listeners to further training.
Chapters
Hey, this is John Assraf, and I'm here with another answer to one of the many questions that I get from my readers and friends and fans all over the world. And one of them is, what are the different parts of achieving financial success and why is it so elusive for so many people? And financial success is broken down into four different parts. Not 44, but four different parts. There's a science and an art to earning money, and that is really a means of exchange between one individual or another or a company in another company. And so earning money is one skill set that's really something that when you learn how to earn money through having the confidence and the certainty and the knowledge and the skills that you need, you can always earn money no matter where you are. Now, I can tell you that if you have the confidence and the certainty in yourself, then you can make money anywhere, anytime. Most people lack the confidence and certainty in addition to the skills and the strategies. That's part one. Part two is managing money. Now, when most people earn income, they don't have any plan for what to do, whether it's for a dollar or $10 or $100. And so what I suggest to all of our clients is you've got to have a plan for managing your money. How much of your money do you. You give to charity as part of your tithing, part of giving back so that more flows in. How much of your money do you use for investments? How much of your money do you use for paying your bills and your lifestyle? What percentages of your money should go to what? And the answer is it depends. Depends on you. But the key is to understand that you have to have a money management plan. Plan. The third part of wealth and making more money is to learn how to invest your money. And it doesn't matter if you just take a dollar out of every paycheck or $5 out of every paycheck, or $10 or 100 or $1,000, it doesn't matter. The key is that you develop the skill and the discipline to take a little bit out of every check that you make or every amount of income that you make. And you have your money work for you in the form of an investment. And one of the greatest laws in the universe is the law of compounding effect. So if you had bought real estate five or 10 or 20 years ago, depending on where you are in the world, chances are it went up. If you bought in the stock market five or 10 or 20 years ago, chances are it's gone up. And so with investing, we know that there's cycles, highs and lows, up and down, but if you think about investing as a long term strategy, over 30, 40, 50 years you can become a hell of a lot wealthier. And then the fourth part of becoming financially wealthy is preservation of wealth and understanding the tax laws of around protecting your assets, being able to transfer your assets from one generation to another, protecting your home, protecting your businesses, protecting yourself is a preservation strategy for wealth. So we have earning money, managing money, investing money and preserving money. Those are skills that you can learn or hire to have people on your team no differently than anything else. That is the right way to think about making money and managing money and preserving your money. I hope you've enjoyed this because if you have, there's lots more great content that we share with our friends and clients all over the world. Somewhere below on this page is a link to click and you'll be able to get much more in depth training on one of many, many programs that we have. It.
