How to turn your income in REAL lasting wealth!

Hi, I'm John Humenik. Welcome back to the channel. I'm so excited you're here today. I've got an interesting question for you. Did you know that making a lot of money, even though you may have a high income, does not equate to you being a wealthy person? Now, that may sound like a counterintuitive or even a trick question, but it's actually really true. Because just because you make a lot of money, just because you have an income, maybe you're a doctor or a lawyer or a business executive, a technologist, or someone that's doing really well financially, that does not mean you're wealthy. Even if you're able to live the life that you wanna live, especially for those people who are living paycheck to paycheck, who have piling credit card debt, and those who are dealing with student loans, struggling to make payments. This is the video that's going to teach you the difference between income and wealth. And in fact, it's gonna teach you how to convert your income into wealth and put it in a position where your money actually works for you, because that's where the millionaires the multimillionaires like the deca and the centimillionaires or even the billionaires operate because they look at money very differently because they look at money as a seed. They look at money as opportunity to do something that other people haven't done before. They don't look at the situations through work and toil and apply your, basically your time and your handiwork into like a craft into something, but rather they're looking for ways to multiply either their income Or their time in order to make more money. And I know that may sound kind of difficult for some people, but just stick around because I'm going to go ahead and unpack some of these things to talk about the mindsets that come with understanding what income is and the difference it is for what it means to have wealth and how those two are ultimately two different things. And so let's go ahead and hop right into it. Now, the first thing that I want to talk about as we go forward is just because you're making a lot of money does not give you the opportunity to be wealthy. In fact, if you're struggling with your finances today, making more money isn't actually going to be the answer that you need in order to solve your problems. What you need is a shift in how money works so that you can take the current situation that you're in, no matter where you're at, whether you're making a lot of money or even when you're not. Because even if this is something— if you're a student and you're in school still and your income Isn't that much. What it'll do is it'll allow you to move forward with what you have today and then multiply it and then accelerate it in a big and profound way. So let's go ahead and talk about a couple of things first. So whenever you look at money, when the difference between a millionaire that looks at money and then someone who is an hourly employee, or even someone that may be in a managed position, is, is that they recognize that As you move forward in wealth versus income is, is they look at money as the vehicle to be able to open doors into something greater. And so what does it mean by that? Because what people do from an income perspective is, is that they look at it as the result of someone's work. So think about it from like an hourly employee. Let's say, you know, someone who works at McDonald's. So they go to work, Let's say they just make minimum wage. And what they do is they know that if I work 40 hours at minimum wage, and every state's different, what you do is you're going to get a certain paycheck, you'll have taxes taken out, and then you'll have your take-home pay. And that's ultimately income. So what they look at it from an— from they look at things in an income perspective, they see I have to work a certain set of hours at a certain wage in order to make a certain amount. And what people do is, is then they'll, they'll go get new jobs, they'll get an education, or they'll, they'll learn a craft. And maybe it's like they get an into technology and engineering and they learn artificial intelligence. And so they start to sell solutions. And what happens is, is they take their hourly rate and increase it, and then they increase it, and then they increase it. You'll hear this, even my mom talks about it all the time, is you go out, you go out and get a great education, become a doctor or become an attorney, and you'll live a great life. Well, what happens whenever you can't work? What happens whenever you decide that you want to take some time off, maybe even a sabbatical? Something that people do from time to time. When you don't work, your income stops. That's the difference between someone who's wealthy and someone who's not. Because when you're wealthy, the income continues to come in regardless of whether you are putting your hand to the plow. And that's the key difference. What they see is the really wealthy people understand is that they make money work for themselves. They know it's a seed because what they do is they put it into something And they know that it'll come back pressed down, shaken together, and running over. Now there's a lot of different mechanisms in which we're— that we're talking about, but we'll go ahead and cover a couple of these things. But what we really need to understand is, is that mindset from shifting from income to wealth, because wealth is that situation where you have taken the money that you have and you're making it work for you, where you don't have to put your own energy, your own mental capacity, your time into something in order to make it work. It takes care of that for you. You know, one of the most easiest examples that the world offers today is the stock market. You'll see people going into mutual funds, they'll go into bonds, they'll go into cryptocurrency, and you'll get into these different areas, whereas you'll see success at different levels. And what you'll notice is, is that if you stick around long enough, and even great men of God, like even like Dave Ramsey talks about this too, where even if you just take out a certain amount of money every single month and put it into the S&P 500 or equivalent, the NASDAQ, where you know it's going to grow, and you just do that that continuously month after month, eventually you're going to have a lot of money in your hands after a decade, 2 decades, and 3 decades. In fact, if you do it correctly, you'll have millions of dollars just by doing that. But you'll have— you have a long runway. And people will say, well, there's risk involved. Of course there's risk. But when you're in a mutual fund, the, the job of the fund manager is to then diversify and always be successful. So funds that aren't performing or stocks that aren't performing, they take them out and put new ones in. So you don't have to manage it for you. In the, in the simplest sense, that's kind of what we're kind of So now that you kind of understand the difference between someone who's wealthy, who has their income in places that are generating income for them, so it's basically an auto system versus someone who is toiling or working consistently in order to do something. So let me give you an example that'll start to blow your mind, because this is where you start to understand turning income into wealth really transforms your thinking. So whenever you look at someone who's not really wealthy and you have someone who may consider themselves rich. Let's just use those examples. If that person who's rich wants to go and take a vacation, let's say they want to take a vacation to London or Hawaii or someplace. Maybe they're out of the United States and they want to come to see New York City. What they'll do is they'll start saving their money from paychecks or things that they're collecting income from in order to get to a point where they can purchase the tickets and then use those tickets, you know, and then get the hotel, the cars or whatever to afford the trip. That's how rich people think, or, you know, people that are focused on income-based strategies, whereas the wealthy don't look at it like that. What the wealthy does is they look at that as an opportunity for them to create more wealth. And through that wealth creation process, then they buy new things such as a vacation or a new car. That's a completely different mindset shift because what the difference is, is that you're trying to create something that you're either going to work for which then will pay you for it, or you're going to create something that will pay you automatically, that then through that process can pay for your vacation and then pay for the next thing and the next thing after that. So it becomes an income-producing asset, which is a commonly used term, to be able to do things for you. And that's one of the vehicles that you can do. There's so many other different ways because now what you're doing is you're shifting your perspective that money is a tool, which a lot of people talk about, which is the rich what talks about, but to people who are wealthy, which money as a seed. The difference is, is that money as a tool is something that you have to then use in order to get things back, whereas money as a seed, it's planted and you still have access to it, but then by the planting process, it then produces more. And that's the difference. And so this is key because now what you do is you can start to walk into these different scenarios and look at things from a different perspective. So now as you're starting to generate income, You're treating it as wealth. And by treating it as wealth, you realize, oh, now I understand the differences because I want my money to work for me. But I want more than just the stock market returns. I want more than just potentially even what an income-producing asset can give you. You want to do more than that because now what it does is it sets the stage for you to operate collectively across all the things that you're doing in amazing ways. And the beautiful part about this is, is you can start today as an individual who has a job or even someone who doesn't have a job that maybe you're still in school. You can do these principles today because now you can do those very things, those very core mindset shifts to be able to move forward. Because as you start to make income, you allow the income to compound. So an example is let's say you do have an income-producing asset. So let's, you know, a lot of things you'll see today are ebooks or things sold on Etsy, you know, lots of different mechanisms in which you can generate income. You create it once and you sell it a lot, whether it's produced like a physical book or downloaded like an ebook or a piece of software. You know, Apple's App Store and Google Play Store is a perfect example. Creating an app and then having people pay to download it and use it or do in-app purchases is another option. Think about the tools that are out there today that can create these complex software systems with just prompts. Like, that's what AI can do today. There's just so many of those things out there. So imagine you being able to create a subscription service. Something that you want to sell that you're going to continue to put information in, or it automatically puts information for itself. And what it does is it allows those systems to be created once and then produce repeatedly. It's like a tree. Think about it. That's why we talk about money as a seed. Think about it from you have an apple seed that goes in the ground and it produces a tree. Every single year that tree is going to continue to make apples. And you know, once the tree gets big and it's mature, it's going to churn out apple after apple. And hundreds of apples a year from one seed. That's what we're talking about. That's the difference between an income mindset, which is I have to work for every single apple, versus I now put the apple in the ground, I then foster and watch it grow. Takes time, but once it's mature, it never stops making money. That's the essence. That's the mind shift I want you to start to take into consideration as you look at— now, there's a lot of different ways to make this applicable in your life. You have to see The talents that you have, the things that God has put in your heart, the things that you naturally gravitate towards, because those are the things that become the income-producing assets or the things that will start to generate you wealth. There's so many different things out there that in which you can do that will just continue to make money without your being involved. And ultimately what that does is gives you the opportunity to incorporate as a business and actually also hire employees who do the work for you. So now you can become a true new entrepreneur, almost like an investor, but you're in— you're investing in your own business, and now you can start to scale. There's so many different ways to do this. There's so many different opportunities. An example is just vending machines, where you can purchase a vending machine, put it in a public place, and continue to restock it. Once you start making money, you can hire someone to do that for you, and now that becomes an income-producing asset. You know, there's just so many different mechanisms out there for you to do these things, and sometimes it is, you know, in many ways a boring business, but Boring businesses make a lot of money done correctly and can be highly profitable with really little risk. So that's the kind of the things that we want to kind of shift our mindset. If you're caught in a situation where you may be piling up debt and you have maybe large student loans that you're caught and you're trying to pay back, I want you to encourage you to start to look at these different things because remember, money is a seed is a concept that does take time to develop. There are no such things, and it is biblical. There are no such things as. Get-rich-quick schemes. There are opportunities for you to be aggressive and make some money. Even people that are making tens of thousands of dollars with little effort have to be able to repeat this process over and over again because ultimately it's still an income mindset. I'll give you an example of what this means. I just saw an in— a social media post today talking about a person who is using artificial intelligence to create an avatar, just a real human that looks like a real human but it's make, then that she became a social media person, that she— he started posting these videos that he then created, and then by the process, then she sold all these things and he made like $25,000 in a couple days. And so this is an example where that is more of an income model than a wealth model. You'll be saying, well, you can start to sell those things over and over again, but what happens is, is you have this process in which you have to continue to work the system in order to make it possible versus the system working for you. So even then, when you start to see, well, they— that person made a lot of money in a short order of time, if that person doesn't continue to foster and basically fan that flame, his income stream dries out. And that really is the difference between an income and a wealth stream, because when a wealth stream, once it's in place, it never stops. It's something that almost is functionally on autopilot or requires someone other than you to make it work. And that's where I want to kind of impart upon on you today as you start on your journey, start to identify the areas of your life that you can start to basically, you know, cut out those excess expenses because there's so many things that we're doing on a month-to-month basis that we don't need to do. Take that income and then leverage that as a seed. Is there a way for you to invest that? Is there a way for you to do something, maybe start a business, maybe actually fund a person that you may know's business and become a partner and then just make money because you've invested in their business? You planted a seed and it comes back to you. Look at those different options That are around you to carve out those income streams so that you can go ahead and invest that seed into the ground, make it an opportunity where the wealth will start to come back for you, and then watch it grow month over month, year over year, and it becomes an asset. And then when you start stacking assets on top of one another, you get to the point where ultimately it will replace— it will totally replace your income stream and you won't have to work for it. And now you'll be able to focus on bigger ticket items, bigger things that you want to focus on. And then as you want to advance yourself, you'll start to say, hey, I want to be able to do this next thing. Maybe you want to go and buy a building. Maybe you want to buy an office complex, do something where you can move your businesses in there. These are things what wealthy people think about because they can rent a large portion of that building out, and then they can take a slice for themselves. And now that asset that they just purchased becomes an income-producing asset that they can generate money day after day, month after They can still use it for their own office space, but now it's something that's going to make them money. And so that's what they do. They don't look at a building and say, well, I'm going to go build a building and then just move into it and it becomes a cost. No, they look into it, says, how can I turn this asset into something that's going to make me money? I can then benefit from it, but then I'm going to continue making money through. That's the difference that I want to encourage you today to think about, is, is how to take what you have and turn it into something that will make you consistently and thoroughly year after year, decade after decade. Because once you start to compound this, it really does pay off. And you will get to a point where you'll start to see your income going to 6 figures per month versus per year. And it does happen, and it can happen relatively from a time perspective in a short period of time, meaning usually like 3 to 5 years. It can definitely happen faster than that if you go aggressive and you become an entrepreneur and you're doing other things definitely can happen even almost within a few months, but then it becomes more risky and there's other things. That's a video for another time. Either way, I hope you like this video and teaches you the very essence of how to change your mindset from income into wealth, where you look at money differently as a producer, not a consumer. And so it doesn't consume your time to make money. Rather, you use money to produce more money.