The Wealth Transfer TRAPS Keeping you BROKE (And How to Escape Them)

All right, welcome. We are live and I want to talk today about something that's going to, uh, revolutionize the way you see money and your future. I'm going to talk about the biggest traps that keep you stuck and locked and on the outside of wealth. All right, so we're going to have a little fun with this. Hey, welcome everybody. I'm going to go ahead and get started, um, because I got a few things I want to cover and I want to do it in a reasonable amount of time. I don't want to keep you too long, but I am going to help you to change how you think about money for the rest of your life. Okay, so, um, I'm going to talk about the biggest traps that keep you locked out of the wealth transfer. I got a lot of, uh, feedback and you guys wanted me to talk about more of it. If you haven't seen my last video on the wealth transfer, make sure that you go back and check it out because I talked about a lot in there that I really believe that you need to hear. We're going to get started. First, do me a favor and hit that like button. Um, it helps me to continue to push content out. It helps, helps the algorithm. So I would really appreciate it and consider subscribing if you haven't because I'm going to be doing more of these trainings here on, uh, YouTube. So make sure that you subscribe and turn on your notifications if you are not watching me from YouTube right now. All right, all right, come on in. I'm looking at the comments right now. Um, everybody's talking about the wealth transfer, and I talked a little bit about this again in my last video. Um, you see it everywhere, you know, but I want to tell you something that is an uncomfortable truth. Hey guys, I see you in there. Um, and that is that even though there is a wealth transfer coming, and, um, and I, and I mentioned one of the ways that I believe that God is going to allow the wealth transfer to happen, most people will not see a penny of it. I'm telling you now, most people will not see a penny of it. Share this video with someone who you love who need to understand, uh, that we have to set our futures up for success. All right, and the reason why most people will not see what is coming ahead is because there are hidden traps that are designed to keep you broke on purpose. Not on accident, but on purpose. So today I am going to expose a few of them and show you exactly how to escape so you can start to position yourself for what is coming. All right, so I want to go ahead and get into it. Hey Jillian, I see you on here. All right, trap number one. We diving right in. Trap number one is consumerism. Consumerism is the first trap that is used to keep you outside of living a wealthy life, right? And when we think about consumption, I mean, we overconsume. Most people have been trained like this from childhood to spend. And listen, companies are literally spending billions and billions of dollars studying how to trigger your dopamine. We all have a dopamine— we all have this, um, this dopamine effect when we feel good about something. And there are companies that study what allows us to release the greatest amounts of dopamine. And that's kind of what— why we get stuck in a loop, right? Um, they know how to make you feel like you need the new technology device, the new phone, the new shoes, the shiny car, the extra subscription, whatever it is. And don't get me to talking about cars because I just sometimes feel like that's one of the worst, um, things that most people can spend their money on and, and limit themselves or close the door to opportunities to be able to, um, gain wealth. But here's what happens: your income will come in and then it flows right back out to somebody else's pocket. So you're funding their wealth and not your own wealth, right? Let me show you how crazy this is. People will literally drop over $1,000, they'll drop $1,200 on a phone, um, to upgrade your phone without even blinking, without even thinking twice about it, right? But then most people, most of the same people will panic at the thought of putting $500 in an asset that grows in value. Like, it— you gotta understand this, you gotta see this. It is not a lack of money, it's a lack of wisdom that people have, right? Proverb— Proverbs 21:20, I see you on here, says, the wise store up choice food and olive oil, but fools gulp theirs down, right? So wise people build assets and unwise people just spend everything. And I'm here to continue to inspire you because you need to, you need to have a culture that helps you to understand the foolish things that people are doing that they think is, is okay because they see social media and they see the culture moving in this direction. I want to resettle you. I want to bring you back to God's design for your life, which is to live in abundance. So how do you break this? Well, it's very, very simple. So true. I know it's so true. It's very, very simple. You break this by simply making sure that every dollar that you have, asking yourself, does this grow me or does it drain me, right? Where is, where, where is this money going? And it's all about shifting your habits to listen to what I'm saying. Buy what appreciates, not what evaporates. The majority of what we buy, it evaporates. We don't know what we did it with it. We We don't— we can't even track it. We don't know. It's gone. I was, I was so blessed today because I looked at one of my, uh, brokerage accounts and it was just— it was up like $800. Um, I'm not doing anything. That's in one day. It was just up. This was one of my accounts. Um, and I, I do different brokerage accounts just to see how well the portfolio will do, but this portfolio gained almost $800 just doing nothing in one day, right? And so this is why it is important to be able to utilize, um, the wisdom that you have to be able to invest in things that will appreciate, not evaporate. Now, trap number 2. Trap number 2. Yes, uh, we are shifting habits. Okay, that's a beautiful comment. Um, debt and culture. Uh, credit culture. I'd say debt and credit culture. This is a huge one. This is a, a huge trap. Our society is literally designed, um, to keep you paying interest forever. So credit cards, payday loans, 7-year car loans, um, buy now pay later, all of that. It's all the same trap, y'all. It's all the same trap. Most people don't realize this, that— here's a statement I want to make: debt is your future income promised to someone else. To someone else. You are literally giving tomorrow's wealth to, to a bank today, plus interest, plus interest. Proverbs 22:7 says the borrower is slave to the lender, and it's still true. Like, have you ever had that, um, I'm sure y'all have had it before, you ever had that friend or a family member that you allow them to borrow some money? So you, okay, you get them $200, guess what? That person becomes a slave. Like, it don't— it doesn't matter if they're your friend. They went from friend to slave. And the reason why is because I guarantee you, if they don't pay you your money back and you see them traveling on a vacation with some new shoes on, you're gonna start questioning them. You're gonna start saying, wait a minute, I know she ain't over there in Jamaica and she still owe me $200. Now how she can afford to go to Jamaica? You know, you're gonna start— the relationship dynamic changes from friend to slave. Now you watching her every move, you trying to see what she buying. Did she come back with some new shoes, a new purse, or whatever? You don't know if somebody gave her that purse as a blessing, but now your dynamics have changed because whoever you lend money to becomes your slave, okay? It, it— the dynamics of the relationship changes. So the borrower is slave to the lender, right? And so we don't want to be slaves to people owing people a million dollars that we can't afford to give back. Now, a lot of us owe too much in credit card debt. I know that. I know this because I live this, okay? I understand this. Now, I am not saying to never use debt. There is a such thing as smart debt once you understand how to leverage debt, okay? This is not for beginners who don't have disciplines and overspend, right? Um, but you can leverage debt. Smart debt can be leveraged for investments, Um, you know, a lot of people do it for real estate, but what most people have is bad debt. It eats away at your freedom, okay? And there's also a difference between debt and a loan. Um, if you're utilizing a loan to pay off, you know, like I say, real estate or something like that, you may not be in debt because your asset may be worth more than what your loan is, okay? So that doesn't necessarily mean you're in debt. And again, that is a smarter debt when you do have an asset that covers the debt and you are leveraging the debt for the asset because it will appreciate. Now, how do you break this trap? It's just simple. You really got to get ruthless about paying off your debt. And you have to get ruthless about paying off high-interest debt fast. It's always important to pay. Some people wonder, you know, which card do I pay? Which one do I pay? Well, technically it's the one that gives you the most momentum, and sometimes that's the smaller one because it just kind of gives you a dopamine rush that you've accomplished something. And everybody needs a win. A win is a win. I don't care how big or small it is, right? So a lot of times it's easier to pay off the smaller debt. But if you want a more strategic way, you need to figure out how much the interest is on each debt and start to tackle the one that has the highest interest because that's the one that's costing you more money to keep. Okay, then you also need to stop buying what you can't afford to pay off that month. Okay, so some people do use credit card for points and stuff. There's a strategy with that. Again, if you're undisciplined, don't do this. But if you are a little bit more disciplined, then you can pay off those credit cards month to month and you can use the points. But stop buying what you can't afford to pay off that month. Okay, if you can't pay it off that month, don't buy it. And then of course build assets that pay you interest instead of paying it to someone else. Now here is the third trap, okay? The third trap is having no structure, no plan, no structure in place. I see it every day, uh, people pray for wealth. A lot of people pray for wealth. They want the wealth transferred, they want money, but they have no plan. Money comes in, bills hit, impulse spending happens, and it's all gone. Ain't it real funny, y'all, how people who start to make more money, they find things to buy. You know, it's an impulsive buying thing that starts to happen with people. And I understand it because I've had it where I'm, you know, scrolling on Amazon looking for stuff. And there's a point where when you really don't have it, you like, nah, I'm sorry, I don't have it. But then all of a sudden you get more money. Now how all of a sudden? But no, I need this. It's funny how we need it. We didn't need it when we didn't really have it to get, but now all of a sudden we get more money and we need it. We— our brains start to trick us to that we need it. And so now we start spending more money. And if you were to go back 3, 4, 5, 6 months ago when you really didn't have the money, there is no way you would have bought all this stuff. We have to be wise about this. Proverbs— another Proverbs— 21:5 says, the plans of the diligent lead to profit, as surely as haste leads to poverty. So the moment you get that money, don't find something else to spend with it. You need to make sure you have a plan, you have a system in place. You need buckets and boundaries and automations, um, buckets for your weekly spending, for your savings, for your investments. And then you need to automate as much as you can. You need to automate everything so you don't have to rely on willpower, whether it's, um, automating, um, saving, automating paying your bills, automating, um, paying for your investments, um, in the stock market, for example. And the only way to do that is you got to remember to pay yourself first. Pay your— wealthy people pay themselves first. Broke people pay everybody else first, and then they kind of see what's less left to them to be able to spend. You have to pay yourself first. Um, I was doing a swing trade, um, uh, I thought it would take a month to, to be able to get, um, this, the quick little profit that I wanted, but I wind up getting it and overnight, and I took the money and I put half of it right away into a brokerage account for a long-term investment play. I paid myself first. I'm not paying anybody else first. I'm paying myself first because I am my biggest asset, and I need to— I, I'm the most valuable thing right now. There is nothing more valuable as an asset than me, and, and I, I believe that because that's how God designed it, that we are his greatest assets. And so We have to also invest in ourselves, right? And so you don't want to go giving your money to everybody else and then you have nothing for yourself to be able to grow your future and to grow your wealth. Okay, so make sure that, um, you change, uh, this habit that you have where you're spending it on everything but the right thing. All right, now trap number 4. Trap number 4 is this: fear and procrastination. That is a trap. Most people are literally paralyzed. They're thinking in their mind, I'll invest when I had the money. I'll learn about assets later. I'll get to that when I, you know, get myself together. You're never going to get yourself together. Let's just be honest. Let's just clear that up right now. You are not going to get yourself together. You have to move with the momentum. You have to move when, uh, when you are motivated to move, okay? Because this whole idea of throwing off the plans that you need to be making right now for your tomorrow. What do you think? Why are you— what if you're at a place where you feel like you're stuck and you don't like where you are? What made you get here? It's because of the decisions you made yesterday. So what makes you think you can keep making the same decisions and think you're going to have a different outcome? Meanwhile, while you waiting around, prices are rising, opportunities are disappearing, the gap is getting wider and wider. Things are going to get more expensive. Okay. Listen, family, wealth does not wait for you to feel comfortable. It doesn't, right? You have to move while you are scared. There is a wealth transfer that is happening while you sitting up overthinking about it, okay? Somebody asked me— I was on the phone with them and they asked me, well, how much do I need in order to start investing? And I'm like, $10. You don't need much, like just a little bit. It's not about how having all this money up front. It's about creating these habits where you take what you do have, the little that you do have. Small beginnings end up with a great ending, y'all. Trust me, one step leads to another, leads to another, leads to another, and before you know it, you'll look back and you'll see how far you've been, right? So you don't— a lot of people think, I need so— you don't. You need 10. There are some amazing— I invest in some amazing stocks that's under $20. Um, SCHD stock right now is a dividend stock and it's under 20— it's under $27 a stock. But there are stocks under $20 that are amazing stocks that are going to grow. Palantir used to be $20. It's— it, it hit $100 and it's almost at $140, I believe. I can't remember, uh, because I'm following so many different stocks, but it's, it's, it's up there in price. It is, it is. A lot of these stocks that once started off at $10 you know, is— has grown over time, right? So you only, you only need a little bit of money. You don't need to start big. That is a myth. Start with what you have. Small steps, consistent action. Let time do the heavy lifting. Okay, so now, um, so let's do a quick recap. 4 traps. Number 1, consumerism. Spend less on liabilities and more on assets. Number 2, trap number 2 is debt culture. Pay down bad debt and then build good credit for leverage in case you need it, right? And then trap number 3 is no plan. So you need to get a structure and you need to automate the structure. And then trap number 4 is fear. So you're just going to have to move scared, move small, just move. Like I said, a win is a win. You don't need something huge out the box. And that's what people are waiting for. People don't like the mundane, the boring, the step-by-step, the consistency, the small little habits that lead to big. I can tell you, anybody who has a great portfolio, who has abundance, who has success, who has wealth, I'm telling you now, it was by small little actions that they took. Okay, so this is how the wealthy think, right? They avoid the traps and they use their money to buy freedom, not a bunch of stuff. Okay, and the best part is, listen, y'all, this is all biblical wisdom. God never designed for you to live stressed paycheck to paycheck. He called you to steward, to multiply, and to leave an inheritance. That takes strategy. All right, so I wanted to talk just a little bit about that today. Um, I'll continue the conversation. I, I will be doing some more of these trainings. Remember, make sure that you hit that like button. It helps the algorithm. If you have not subscribed, I'll be doing these trainings, um, every, uh, I'm gonna do them more and more often. I'm creating a calendar and space to be able to address a lot of these trainings and topics that you want, um, that you guys have asked me for. Uh, now here's what you do next if you are ready to stop, uh, falling into these traps and falling for these traps and build a plan that fits your life, your goals, and your season. Because this is about Seasons of sowing and reaping. All right, and if you're serious about resetting both your health and your wealth habits together, join my 90-day health and wealth challenge. The link is in the description. Uh, we want to really just give you real steps, real structure, and real accountability so that you can be ready for this wealth transfer instead of just hearing about it. All right, so the link is in the description. And if you do need more personalized, um, coaching or plan, um, then I want you to book a free strategy call with me. We can kind of run through, um, what it would take to get you back in control of your life and get you unstuck from these patterns that are preventing you from winning. Let's break the traps, build the plan, and position you for everything that God has for you. Um, okay, so again, like the video, subscribe, and leave a comment. What kind of content would you like me to talk more about? I'm committed to that, um, this year, um, for the next several years. I'm committed to really building YouTube and being on here, being more present, adding more value. That is what I'm here for. And so leave me a comment and let me know what would you like me to talk more about, and I'll make sure that I do those videos and those trainings for you. All right, that's all for now. Make sure you visit the descriptions below or the description below with the links and continue to break big barriers. All right, I'll see you next time. Bye-bye.