3 Powerful Steps to Manifest Financial Abundance: Unlock Your Wealth Potential

The psychology of investing is just as, if not more important than the actual how to's of investing. Because every day people are watching that ticker. Most people who start off investing their money, they get sucked into that rat race. I did too. All you're doing is watching the numbers go up and down and ticker symbols and you're reading these forums. So the first thing is, welcome to.

The School of Greatness. My name is Lewis Howes, a former pro athlete turned lifestyle entrepreneur. And each week we bring you an inspiring person or message to help you discover how to unlock your inner greatness. Thanks for spending some time with me today. Now let the class begin. Welcome to this special master class. We've brought some of the top experts in the world to help you unlock the power of your life through this specific theme today. It's going to be powerful, so let's go ahead and dive in.

One of the things that I say is that the psychology is just as, if not more important than the actual how-tos of investing. And that's especially true when it comes to something like the stock market. In real estate, it's tough, but the difference between real estate and the stock market is if you buy a, say, $200,000 home, it's not going to go to zero next week, next month, or really ever, because you have some land, you have a physical property, and the stock market, it can happen. And so there's a couple things that.

You- you- invest in stocks too?

I invest. So I invest my money in five places. Real estate, stocks, startups, cryptocurrency, and physical gold.

So in that descending order of value from the most to the least?

Yeah, I would say so. And then if you want to put my business in there, then that would be number one.

Startups number one.

Your business and startups number one. Yeah. But I also invest in other startups as well. But I would say in that order, yes. But in the stock market particularly, it is a liquid investment, meaning you can easily buy, you can easily sell, and that's what becomes A big psychological game because every day people are watching that ticker.

Ah, I just made money. I just lost money. Ah.

What's Tesla doing today? Tesla's up $2. Tesla's down $4. And it can really drain you. And I think most people who start off investing their money, they get sucked into that rat race. I did too. Because when I first started investing my money in the stock market, I was like, wow, this is fun. This is exciting. Oh my God, it becomes like a drug. You become addicted to it because I was waking up every morning, I was like, I'm gonna become a day trader. I got it. And so, you know, I took a summer of when I was in college, and that's all I did. I would wake up before the market, and I would read these stock charts, and I would trade these penny stocks, and some days I would make $1,000, other days I would lose $1,000, and by the end of the summer, I don't think I made any money. You just spent all this time. I spent all my time, and I realized this is not for me. Like, I became so addicted to it, all you're doing is watching the numbers go up and down, and ticker symbols, and you're reading these forums, So the first thing is you have to understand that your psychology is important. What I do is I understand I'm not a trader. I don't trade, I don't flip, even when it comes to real estate, really any of my investments. You invest. I invest long-term. Long-term. So what does that mean? So I have two strategies when it comes to investing my money. I have an active strategy and I have a passive strategy. I'll start with the passive strategy because that's easy to understand. Every month, I passively invest my money into stocks, physical gold and cryptocurrency.

Really?

And so what that means is it's automatic, automatic payment in each one. Yeah.

All the time.

So you're doing index funds with stocks or what stocks? I do ETFs, low-cost ETFs, and I have ETFs to give me exposure to the S&P 500. That's kind of your safe, your value. S&P 500 are the biggest 500 companies in the stock market. So that's the kind of the safe value play. I have some ETFs that gave me exposure to innovation, startups, growth, because I like that space much more risky, but you could see more potential upside. Risk means you could also see more downside. And then I also have ETFs that give me exposure to emerging markets. These are countries that are overseas, countries like China, India, Korea, Brazil, countries that are up and coming to give you some diversification, not just in companies, but also in dollars, right? Diversifying out of the dollar. So kind of gives me that protection. So every week I have money that's leaving my account and being invested into these different ETFs. I don't care whether the market's up or down, it happens every week. In physical gold, every month, I use an app for this, there's apps that allow you to do this. I have money that's withdrawn out of a bank account that buys me physical gold.

Really?

Now, people are gonna say, why gold? For me, it's real money. It's another way of saving real money because now if I have 50 grand of cash, would I rather save and bury that 50 grand of cash in my backyard or bury 50 grand of gold in my backyard? I'd rather bury the gold because I know that 50 grand of cash is guaranteed to lose value every single day. Gold is a store of value because it takes time, effort, and labor to mine physical gold. And that time, effort, and labor is represented through the physical piece of gold. So that's why I own it. It's not a huge piece of my portfolio, but it's kind of that insurance. That's the way I look at it. It's protection in case everything else goes wrong that I have some physical gold. So I have that and then I have my cryptocurrencies. Now, I'm mainly in Bitcoin. I have some Ethereum, a couple other coins, but mainly Bitcoin and every day I buy a little bit of cryptocurrency. Again, I know it's volatile. I know you can see big swings up, big swings down. I don't care. I'm buying it every single day. So that's my passive strategy where it doesn't matter what's going on in the market. I'm just going to keep buying no matter what's going on. Then my active strategy is now where I do more of the fundamental analysis where I understand where am I actually investing my money. So this requires much more time and more effort on my end. So on the real estate side, I'm looking for deals that are paying me that 7% cash on cash return. And so I'm going to be analyzing the numbers, looking through properties, walk through a lot of deals and when I find something, I will go out and buy it. In the stock market, rather similar, I'm looking for companies that I believe in. that I believe are good fundamentally. Fundamentally means looking at the numbers, right? What do the revenues look like? Have the revenues been growing? How fast are they growing? 10% a year, 20% a year? What about the profits? But you also have to look a little bit deeper than just the profits because you want to see what's going on with the expenses. Where are they investing? Are their expenses going up because the cost of business is becoming more expensive? Or are the expenses rising because they're investing more in their company? So you got to do a little bit of digging in there. and then in startups, obviously invest in my own companies, but I also invest in startup companies. I love entrepreneurship. I am a huge fan of entrepreneurs. I love supporting other entrepreneurs because I never had that support when I was getting started as an entrepreneur. So one of the ways I can provide the support is through money, through investing in some of these entrepreneurs. So I invest in these startups. Fourth, cryptocurrency. If a big cryptocurrency crash happens, Well, I already know what I want to own. I'll just come in and buy more. And with gold, I don't really actively buy gold, but that's the four ways.

That I actively invest my money. Sure. And where are the three biggest revenue.

Streams coming from for you? Well, obviously business, you know, and that's across the different businesses. And then the second one, I would say, is real estate. That gives me that passive cash flow. And those are my two real-- when I talk about income cash in my pocket, it comes from my business and it comes from real estate. That's where my cash is. Nice. Yeah, it's pretty simple.

And what's the number one revenue generator in your business? Is it from YouTube? Is it from the newsletter?

Is it from some other course or coaching? So the business is divide up. I have my personal brand, which is Minority Mindset, right? That's me on YouTube, that's my blog. And then I have market briefs and market insiders. So number one would probably be my personal brand. And now, I don't think that's gonna last very long though. My personal brand is doing well because I built up this big following on YouTube, which was completely, it's funny, it's accidental. I never wanted to be a celebrity. I never wanted to be famous. I never wanted to be known. I started YouTube on accident. You know, we talk about risks, making mistakes. I've always been an entrepreneur. And I went through a lot of different business ideas. And one idea that I had, it was in the year of my grad school. I was taking a class on public speaking and my friend, my roommate at the time, he was like, you gotta watch this show called Shark Tank. I was like, okay, whatever. I don't watch TV. He said, but watch this show called Shark Tank. And it's all about people pitching business ideas and this class that I was taking, we had a project where I was supposed to pitch a product to the class, kind of like Shark Tank. I was like, psh, that's easy. I do this with my friends all day and night long. That can't be hard. So I kept putting it off, putting it off, putting it off. I'm a procrastinator, especially when it came to school because my mind was always somewhere else. And so now, one day I was late to class, like normal, I pick up my backpack and I start running because I was like, oh, I'm a couple minutes late. And it's raining this day. And as I'm running to my class, I stepped in a pothole filled with water. Now my foot is soaked. I sit down, I'm like, oh, I'm wet, my socks are wet, I'm uncomfortable. And the teacher goes, Jaspreet, it's your day. Your day for what? She's like, it's your day to present. And I was like, oh my God, I forgot. And so, you know, obviously I don't tell her this, but I go stand in front of the class, and I'm like, Just Pretend, think of something, anything, anything, just think of something. And so the first thing that comes to my mind were my wet socks. So I go up in front of the class, no practice, no preparation, and I pitch this idea of water resistant socks, that way now you can be an athlete, you can walk around and not have to worry about stepping in puddles. I sit down, I was like, Nice job, Just Pretend, but that's actually kind of a cool idea. So I go home and I start Googling, you know, water resistant socks, and they had these like really thick uncomfortable looking things that people wore when they go fishing and stuff, but nothing made for like athletes, people to wear in their regular life. So I was like, oh, maybe I'm onto something. So then I spent a lot of time trying to develop this technology, working with textile engineers, working with sock manufacturers, and I created a water-resistant sock. And now I go to launch this company, and I got approached by a marketing company, quote unquote marketing company, and they said they're gonna help me blow up my sales, they're gonna help me do all this stuff, they're gonna help me make all this money. and I was really skeptical. And then they said, don't worry, we have a 100% money back guarantee. If you're not completely satisfied, if we don't make our money back, you can get all of your money back. I said, okay, that sounds pretty good. So I gave them money, it was a few grand, I think like $3,500, which is a lot of money. And the next day, after I gave them the money, I had a bad feeling in my stomach. I was like, you know, I'm a marketer. I like the way, I can promote products, I just, just something didn't seem right. So I call up the guy and I say, Hey man, I know that we haven't started yet. Look, I just want to have my money back. You know, I want to end this on amicable terms before you guys spend any money. Let's just, let's just, you know, end it now. And he said, okay, no problem. But it's been hold and I was in the gym at the time and I was really frustrated because I was between sets and he puts me on.

Hold for a long time.

And then all of a sudden the phone line goes beep. And I was like, oh, something's not right. So then I call up the other number I have, they don't pick up. I start emailing them and I never hear from them again. found out I got scammed. They were a fake company. So now I was irritated. I launched the company. We had an amazing launch, I think. I don't remember exactly, but in the first 30 days, we did over if either 17, 000 or 20, 000 in sales right off of the gate. And I was still, I had this, like, kind of chip on my shoulder. I was like, that's not cool. Like, nobody supported me as an entrepreneur. Nobody wanted me to do this, especially when it came to the sock business. I mean, I There were so many jokes thrown at me because they're like, oh, you left medicine to go sell socks. Right. You know, I was just so frustrated by it. And I was like, you know, people don't see what I see. They don't have my vision. I want to do something to help other people like me. So I put out this course on Udemy, seven bucks, on how to launch a business without getting screwed over. I didn't really care about making money. I just wanted to help people because I was so angry. and people loved it. And they were like, dude, can you please start a social media page, start an Instagram page? And I did it under the alias Minority Mindset, the whole idea of being just thinking differently than the majority of people, because that's what I thought I always did. From the point where I started hosting parties instead of going to the parties to then buying real estate when everybody was out blowing their money they didn't have in college to now starting this company, I was like, yeah, I have this thing, Minority Mindset. So I called it that. And then I said, okay, I'll start an Instagram page. Just posting the same stuff, like just here and there, like things that I wish I would have learned, known about starting a business and about investing and money that somebody, I wish someone would have taught me. And then everyone says, Jaspreet, I like this. Can you make long-form content? Can you create a blog? I was like, well, English is my second language. You're not gonna like my writing, so no, I can't start a blog, but I don't mind talking, so I'll start a YouTube channel. so then I started this YouTube channel called Minority Mindset and that slowly organically started to grow and I never started it with the intention of making money and you know it's funny, I tell that to people now and they're like, there's no way that's true, like you have to have some idea of trying to make money and I really didn't, I was recording the videos off my phone so I had really no expenses, I think I spent like 30 bucks on a tripod, you know that was it, like I had no lights, I had no fancy equipment And then I think we were close to 10,000 subscribers and my buddy comes up to me and says, Hey, how much money are you making from Minority Mindset? I'm like, I'm not making any money. He said, from your YouTube advertisements. I'm like, what are you talking about? He's like, you know you can have advertisements on your YouTube channel? I said, I have no idea what you're talking about. So he goes onto my YouTube channel with me, goes into the back end, the settings, and he's like, Dude, just click one button. Turn your monetization on. I said, I don't even know that you could do that. This is before that there was even monetization requirements. Anybody could monetize any videos, no matter how many subscribers, how many videos you had. So I was like, oh, I didn't know that I could do this. So I really started it just kind of with that goal of, I want to put out that information that I wish somebody would have told me, kind of just like that helping hand that, Hey, it's okay. You're not the only one that thinks like this. It's okay to think a little bit differently. It's okay to try something different. So that was my whole goal. And then it started to grow. And then it became this kind of this bigger thing. And around a half a million or 600,000 subscribers, I was like, wait, I can actually like turn this into a business. So I went through this like, you know, I'm an entrepreneur. I was like, okay, minority mindset, I'm gonna turn it into a business. So I started these other products under minority mindset. I started this newsletter under minority mindset. I started, you know, these other educational things. And it started to get really confusing to me because I was like, what is minority mindset? I'd be walking down the street and people will come up to me and say, Dude, your minority mindset, man, you really helped me out. You saved my life. You helped me get out of debt. And it made me feel really good. Like, I could not believe people knew who I was. I remember one time I was with my dad. We were in Arizona and we were getting acai bowls, which are absolutely delicious, by the way. And we're in line and this guy sees me walk into the store. He was riding his bicycle. and he races across the street to come inside of me and he goes, Just breathe, minority minds, is that you? And I was like, yeah, and my dad's right there. And he just puts his arms around me, hugs me, and is like, Dude, you changed my life. You helped me out so much. You got me out of this position. And I was like, oh my God, no way. And my dad looks at me, he's.

Like, People watch you.

Wait, you're not a doctor and that's okay? Yeah, and so it was like, that was like that realization that, oh my God, people are actually paying attention. Obviously, you know, you see the comments.

You see the subscribers. Until you meet people in person, you really don't know.

Exactly. And that like- It's a crazy feeling. And you know, that time, especially just because, you know, I saw my dad light up and he was like, I can't, he was shocked. And that's when I was, you know, I can actually do something with this. So I was creating these products under it, but I was getting confused because what is minority mindset? Is it a company or is it me? And, you know, as the entrepreneur, I was like, I'm gonna build a company. I'm gonna turn this into something. Everybody assumed I'm a minority mindset, which made it very hard to build a company out of it. And so this was 2021 in December. I decided to go on a thinking trip, and I'd never done this before, and I really recommend this to anybody who can do this. I went to Boca Raton, Florida, and I was there for about a week, and I separated myself from technology, people, everything, and I lived in this really tiny little apartment, and all I had was a bicycle, and my notebook. I've done this before.

It's a game changer.

Oh my god. And so what I would do is I ride my bike to the beach in the mornings. I sat there for a couple hours with my notepad and I started writing down my thoughts. And from everything, not just business, you know, my mental health, spiritually, what do I want out of life, what's important to me, what's happiness, just starting writing things down. And you know, I would get to the business financial stuff and I start asking minority mindset, question mark. What is it? Who is it? And It was at that week I realized I am minority mindset. That's what everybody identifies me as. And it makes sense because that is who I've always been. But these companies, they're getting intertwined into something that's they're being overshadowed. I can't give them the attention that they want. So after that, I came back to the office. This is the complete end of 2022 when I tell the team sorry 2021. I come tell the team as soon as we come back in 2022 we're gonna change some things around. So the first week of 2022, we have an all hands meeting. I was like, here's what we're gonna do. We're changing everything. We're gonna take our newsletter, turn it into Market Briefs, we're gonna launch this app, Market Insiders, we're gonna do all this stuff. And everyone was like, where did this come from? And so we implemented all that. And then this is now early 2022, it took some time to implement. Market Briefs now becomes its own company, its own newsletter where we're providing financial news that's accessible. I talk about accessibility of financial education. For me, that is the biggest thing because I never understood those big terms. What does the 10-year yield going up 40 basis points mean? It doesn't make any sense to somebody who's getting started. So I want to make things accessible. So that's what we do. We break it down in a fun, witty email that you're actually going to want to read. You're going to look forward to reading this email and it's completely free. And so we're going to take this into our own company and we went through a lot of, I mean, it was a painful transition because we had issues with the email service providers. A company saying that, yeah, it'll work. We spent months transitioning over. The first week that we're working with this company, they say, oh, sorry, you're promoting financial content. We don't allow financial education. We don't allow stock market. We don't allow cryptocurrency. We don't allow anything related to finance on our platform. I'm like, dude, you've been working with us for two months. I've talked to five people on your team. They know exactly what we're doing, and now you're telling us this? So we had to start the whole process over. So it was a big, you know, it was a part of an entrepreneur, you can touch their mouth. Big mess, we go somewhere else. And now, like it was April of 2022 where things finally, like, all right, we got it situated, now we're going all in. So, you know, you'd ask, where is most of the revenue coming from? It was YouTube, and it is, but I won't be long because, you know, I talk about how YouTube funded my business. I take the revenue from YouTube. I'm investing all of it back into my companies because I want to turn market briefs into something big, man. Because it is needed. It is so important because if you're an investor, you need to know what's happening.

How should people be thinking about this? So they have enough safety and security. They have enough in the bank for if something goes bad in the economy, they've saved enough. But also they're not just overspending as well. Some people who have the personality where they just spend, spend, spend. then they go into debt.

Right.

So how do we balance money so that we have enough for, you know, the future.

Yeah.

And we're not in debt.

So that's. Oh, I'm so fascinated with a couple counseling and sometimes family counseling. You know, we're trying to have balance. That's what's so beautiful about human, humankind. You know, somehow the spender. gets married with Moneymaker.

Right.

Someone's making all the money and someone loves to spend it all.

Right. And so they come in and this person is spending so much money. No, no, you're making too much money. So you have no time for me. That's why I'm trying to get the stress out by spending money. So you have to have the balance. That's where Zen comes in. If you're spending too much, you have to start saving. If you are saving too much, you have to start spending. So the prescription I give to each client is different. For some people, the savers, I said withdraw $1,000 and spend it for nothing in 24 hours.

They probably freak out like, Ah!

No, they are okay to the withdrawing part. And so the next few days of a week later, they come back and said, I withdrew $1,000.

I didn't spend it.

But I spent like $20.

Oh man.

Because they cannot waste their money. It's against their constitution.

I know people like that. So what should people be spending their money on? So they don't feel like I'm just blowing money and wasting it.

No, so like a money maker. Money makers, they think, is this a good investment?

Yes.

So don't think about it because just enjoy the money flow. You can give it to people. You can just, you can throw it away on the floor because somebody's going to pick it up and make somebody very happy. So you can be creative with money. But we are taught from a young child, that childhood, that you have to take care of money. Wow. Just, just, what if, what if you just throw your $100 bills on the street What would your mother say?

Right.

Right.

So, but for exercises, I tell people, can you throw away your money? And they show me the expression as if I'm saying, you're gonna die in 10 minutes. Wow. They're gonna like, you know, so I enjoy so much.

What happens with your clients when you say, okay, go spend a few hundred dollars a day or leave money out on the table for someone to pick it up, and you do these experiments. What do these individuals say afterwards, a month later, a year later, about giving their money or spending it? Not all of it, but some of it in these experiments.

So they realize how much attachment they had toward money. And it's in here. And by the way, my finding shows that the savior type, the people who have attachment for money, tend to have this problem. Physically, they get constipation.

Constipated, yeah.

So there is that. So they have a hard time letting go of money.

And their waste, their food.

Because they're attached to it.

What happens when we are attached to money?

I think the flow of energy gets stopped. So if you let go of money easily, the more opportunities come easily. but because you let you cannot let go of money, you cannot receive. So if you let go easily, the more to come. So those people are losing out opportunities. So say I had a friend in my 20s when I asked him to go out and have some fun. And he said, no, no, no, I don't want to do that because it's going to cost something. say, you know, $50 or $100 for a party, right? But just look at what he's missing. He's missing out the opportunity of meeting new people. Like, I met many great mentors by attending very expensive seminars. You know, I attended like $200 seminar. At the time, it felt like a million dollars.

Yes.

But since I was the only student at the time to attend a business seminar, Everybody loved me. So $200.

It's so cool that you're here with all these older people and you decided to show up. Let's mentor you.

Yeah.

Yeah.

So I was like a little toy. Okay, I want to just play with you. So that was a great investment, for example. So if you let go of money easily, you get so much. So why don't you think of letting go of money and also as a, almost like a shopping for your memories.

Shopping for memories. Yeah.

Because I, I didn't have to fly. I'm going around the world this time. I'm just meeting up a lot of people. It costs some money.

Right.

But with the, with, by spending so much money on hotels and airplane, look what I'm having. I'm such, I'm having such a great time.

Yes. And you have experiences, life memories.

Yeah.

So when I'm in a senior home, uh, some, sometime in the future, I think of having this conversation with you and meeting up a lot of great people in the world. So I have full of memories. So if you don't spend the money, you don't get all the fun memories.

Right. And what happens to people when they speak bad about money? They complain about it. They live in scarcity. What happens?

Yes, that's a good question. So think of money as a person. I always ask, I talk to thousands of people all the time and just ask a big audience, how many of you love money? If it's a business seminar, they say yes. And my next question is, how many people do you think money loves you as much? And they say, I love money, but I don't know if I'm being loved by money. But the feeling must be mutual.

Right?

It's the same thing with a relationship. Even if you love her, love him so much, if you don't get the same amount of love from the other part, it doesn't mean anything.

So, you have to love your money and your money has to love you. But if you speak bad about money.

What would you think?

Or you speak bad about people who have money, then why would money love you in return?

Yes.

So, exactly. Thank you for answering me. Yeah. So, that's exactly, Exactly what I want to say. If you want to be in love with money, you have to be, you know, you have to respect your money as your best friend or your love of your life. So love and money can love you back.

So what are the best ways that we can start respecting our money better so that our money loves us more and wants to bring more friends?

I always ask my money, where it wants to go. Really?

Yeah. So what do you mean? You have like a few hundred dollars in your hand and you say, Where do you want to go?

Yeah, the other day I got a big check from overseas. The book I wrote 18 years ago, it's about $10,000. And then, oh, thank you, thank you, money. And I asked money, Do you want to stay with me or do you want to go somewhere? And the money said, I hear it in imagination. The money says, I want to go to Cambodia to help kids.

Wow.

And then I remember there is a friend of mine who is doing orphanage in Cambodia. So that $10,000 is helping kids for fruits and electricity and the rent for a whole year, like 36 kids. So, and that $10,000 I could have used for something else, but I have already enough. So by asking the money where it wants to go, it went to the right place to bless the kids. So I'm so blessed with happy money. So if I start doing that, the more money comes in. So more money comes in from the world. And I've written 200 books. So like book royalties come from everywhere. It's almost like every few other days I get money from somewhere.

It's amazing. Yeah.

I ask money where do you want to go? And then I want to take your family out for dinner. That's good. So we just, you know, go. So it's not, I'm not saying that you should spend your money for somebody else. It could be, you know, I want to buy a car or whatever that is. So, so if you can be, if you can have some distance from money instead of like, this is all my money, you can be free from money.

Because what happens to someone who has so much extra money at the end of their life and they don't spend it? What do you think about that? Because a lot of people have a lot of extra, but then they pass it down to their families or they put it in trusts and then they give it out to charities. What's your thoughts on that?

I'm just saying that they're missing out a huge thing. You know, they could have seen what your money could have done.

The impact.

Yeah.

My mentor, one of my mentors is Junki Yoshida, who is a founder of Yoshida Gourmet Sauce in Portland, Oregon. And he donated something like eight or ten million dollar worth of state to Children's Hospital.

Wow.

And he's in, in his 60s, so. or early 70s. So he's still alive, right?

He experiences it.

Right.

I mean, usually I hear when you pass away, that goes to something, right? But he donated the big house that their older kids grew up on, donated the huge mansion to the hospital. And I asked him, if I were you, I'd want to live as long as I'm alive. And then, When I die or my wife dies together, that can go. And he said, I wanted to see how my money or how my house is helping kids while I'm alive. Don't you think it's selfish? No, no, no, no, no. I think you have all the rights to see how your happy money can help others.

Right.

So if you just hoard your money and then die, without doing anything, you are missing out the most fun because you have such an impact. You could have an impact for other people. And I think that's a reward for making so much money.

What is the vision for your money life for the rest of your life? Do you want to die with zero? Are you trying to give more of it away? Are you trying to make more? Are you trying to make your container bigger? What's your vision.

Yeah, I may surprise you, but I'm a money indifferent type.

You're neutral.

I'm not really interested in money.

Really?

Yeah, because I'm not interested in growing my money because I have already enough and I make enough. So, I'm not interested in money, even though I'm regarded as a money guru, because money flows enough and goes out enough. So, I don't have a goal. I don't have any attachment. And as I said, even if I lose everything, My friends would take care of me. So I don't have any thing. But for humankind, I have a vision. I hope in 20, 30 years, or while I'm alive, I want to see human being can be free from money or money worries. That's why I'm doing my work actively in the world, because I don't need to get something out of people. I'm just here to share. Yes. And if you know how not to worry about money, you are going to do something else. So my question to the viewers and friends is that if you don't worry about money, just even a slightest bit, what would you do? What is a project that you want to start? And that is something you have to go right away. Yes.

What would you say to parents? on the three most important things they should be teaching their children.

Okay.

As they get into, you know, after five years old, as they start learning about money and the material world, what lessons should parents be teaching their kids about money, in your opinion?

Great, thank you. So I used to, and I think I'm still teaching my child, she's 24, so she's growing up, already. But the first thing I would teach is money is fun. So if your kids know that money is fun, so we used to sit on the dinner table, just say, I have this, say, $10,000 to donate. What do you want to do? You can help rescue the animals, you can help the environment, you can help the homeless people. What do you want to do? And when we give presents, what would you want to do? So my daughter grew up thinking money can do so many wonders. So if all our kids learned money is a magical wand to make people happy, I think people are more excited about getting the money. So they have no negative ideas about money. And imagine what if all the children have never been scolded for wasting their money. I think we will be so stress-free because a lot of worries come from the need for survival and it's attached to money. So once we are free of money stress, I think our life will be so different. If you can teach money is a fun thing, that is a great starter.

Okay. Number one, teach the money is fun.

Right.

And also, I want you to teach your kids about money and emotions because those things are not taught at school. Because even though your child is grown up with positive attitudes, your friends may not. So they try to compete with you of how much they have allowances or like this is my new iPhone something or like this is my sneakers or whatever that is. And then people try to manipulate you with emotions. So if you start teaching, you feel bad about money, you feel ashamed of money, you feel guilty about money, we all feel some emotions.

Yes.

So if you start teaching emotions around money, I think your kids will be emotionally free from money stress.

Yeah, they won't be comparing themselves to others who have more.

Right.

They'll feel good about themselves.

Right.

Yeah.

And I think related to that, I probably share, I once shared with my daughter, you know, I'm not the wealthiest man in in the world. I have enough money, but I don't call myself, you know, the tycoon or whatever that is. I don't have a private jet, right? So, but I'm financially independent and free. So, I teach my daughter that about money emotions. And at the same time, I have a lot of emotions too. Sometimes I feel guilty, sometimes I feel shame, Really?

Yeah.

Around money or around- Yes, around money or everything.

Why do you feel guilty or ashamed?

Like say all my students have less money than I do. So sometimes I used to feel, sometimes I feel I'm taking advantage of other people, right? I don't need to get money. So sometimes I do seminar for free.

Sure.

But anyway, so I feel shame, guilty, guilt around money. So, I share that with my daughter.

How do we eliminate those negative emotions? How do you get rid of those? You cannot. Really? Because it's human nature.

As long as you live, say you are very happy, but if the person right next to you is crying, you feel sorry for her. Sometimes you may feel about guilt. for being happy. So sometimes I feel guilty when my author friends saying, Ken, my books are not selling well. I'm so sorry.

Yours are selling so well.

Yeah, yeah, so I feel guilty, I feel shamed, so many things. So I'm teaching my daughter that this is very natural.

Gotcha.

But the bad things happen if we try to manipulate our feelings. by compensating working hard, by working hard, by saving what? So I'm just joking. If I could become a prime minister of Japan, I'm gonna print every note of banking notes said, making too much, worrying too much, and spending too much can be hazardous to your health.

I like that. That's good. Okay, so the first thing to teach your kids is money is fun. You can make people happy with it. The second thing is to learn about money and emotions.

Yes.

That these things are natural to have emotions around. The third thing the parents should teach kids about money?

More you give, more you receive. So you don't have to work so hard to get the money. But if you want to get more, you have to give more. And to do that, you have to be loved by people around you. You have to have many friends. So to do that, you have to have a good relationship. relationships with people. So relationships are everything. In North America, it's very individualistic. So you eat your own food, you eat your own thing, and since you're five, you're so used to taking examinations. You never had examinations with three of your best buddies and coming up with the right answer.

Yeah.

I think we should, but it's so individualistic. So you cannot talk with your friends while you're having an examination.

You can't collaborate, right?

Hey, Bill, what do you think? Number three. Okay, thank you. It doesn't work that way. And then it's up to your 20s and 30s. So especially in North America, everybody seems isolated because you cannot talk about your sexual problems or financial problems, your emotional problems with your best friends. So you hang out and go for a cup of coffee. a glass of beer and just watch the sports. But you're missing out the most quality moments, which is share your problems, because your best friend may have the exact problem.

You might have a deeper connection.

Right.

So you have to really have this mentality of being supported by friends. So do more and receive more. So by hearing that, You know, you don't have to worry about taking advantage of other people. Something is not fair, the rich is doing something bad, it's nothing, it's not of your problem. You focus on what you give and what you share, and then you receive.

The earning of money is an exact science, and it's governed by law. The amount of money you earn is in direct ratio to the need for what you do, your ability to do it and the difficulty there is in replacing you. It's the need for what you do, your ability to do it, and the difficulty there is in replacing you. Now, in this business I'm in, you can earn an awful lot of money because there's a tremendous need for a person that does what I do. I've traveled all over the world, from Shanghai to Buenos Aires to all over Europe, Asia, everywhere. Everywhere they need what I've got. There's a tremendous need. I can earn more money than a neurosurgeon. Now, everybody has a brain, but not everybody needs it operated on. you know, it's in.

They needed to operate it in a different way.

Yeah.

The way you do it.

It's a need for what you do, then your ability to do it. So if a person, if there's a great need for what a person's doing, then they've got to get really good at it. So you never stop getting better at it. You're good at what you do, and I don't mean to flatter you. You are just good at it. I watched you do it.

Thank you.

And you do it like I was mentioning, you're sort of the, well, you're much the same as, drawing a blank on his name.

Larry King.

Larry King, yeah, because Larry was a master. Larry never talked about Larry. He never, it was all about you. You never heard him say I. It was always about interviewing the person. So there was a great need for what he did. He was entertaining a lot of people. His ability to do it, he was very good at it, so he was very difficult to replace. Now when you're difficult to replace, your stock goes up.

Yeah.

We've learned, we've got to learn how to earn money. And most people don't know how to earn money. Most people think you go to work to earn money. Do you know, I was in a seminar in Phoenix, probably a couple of years ago now, and this guy came over and talked to me. I knew him not well, but I knew him. And he was a doctor. And he told me he was thinking of quitting. I said, why are you going to quit? Well, he said, the medical profession is all messed up now. He said, you, got to put in more time to earn less money. I said, well, that's true. But I said, why'd you become a doctor? Well, he said, I love it. I said, what the hell? The fact that you're earning any money is a plus. You don't go to work for money, you go to work for satisfaction. There's two rewards in life. One is material and the other is psychic. We shouldn't work for money, we should work for satisfaction. You provide service to earn money. Take some recording stars. I got they earn millions on a recording. But look at the millions of people that are being entertained. construction workers, air flight attendants, restaurants, there's the music's playing, entertaining all the people that can hear that music. So they're entertaining all the people. And that's where it's coming, you see, you do what you, you work at what you love to do and you'll get tremendous satisfaction. Like, I love what I'm doing. I would do it for nothing if I had to, but I, I just love it. I really love it. And so the fact that I love.

It.

Why would I want to do anything else? That's what I said to him. You get satisfaction from what you're doing, what you love to do. So every day when I get up, go to work, I'm doing what I love doing. You provide service to earn money. I have all kinds of stuff that we have, stuff that we sell, programs that we're selling, somebody buying them now, I don't know who they are or where they are, but I'm earning money right now while we're talking. And when I go to bed tonight, I'll be earning money and I'll learn it all night. And I like that idea, you know, because we're providing service. So I think we have to get the money straight in our mind. And I don't think most people have it straight. If you, and if, if people don't, you were mentioning if a person didn't like to talk about it, they have a problem with it.

So start talking about it more.

Absolutely.

Yeah.

If there's somebody that, that you're around a partner, an associate or something, and they really don't want to talk about money, you I think there's a problem there. Yeah.

If someone came to you and has struggled with money their entire life, whether they're in their early 20s or they're in their 40s or 50s, and they asked you, Bob, what do I need to do to make my first million dollars? What would you say are the most important things they should think and act on next?

Well, first of all, they've got to believe that they can earn the million dollars. They've got to develop a belief system. Our belief system is based upon our evaluation of something. And frequently, if we reevaluate the situation, our belief about it will change. We've got to understand that money is easy to earn. I work with our sales staff all the time. helping them learn how to earn more money. I work with members of our staff, different members of our staff, helping them develop the desire to earn more money, and then I show them how they can do it.

And how do we believe if we've never seen evidence before or gotten results before of earning it?

Yeah.

Is through the repetition of it, through the repetition of writing it and believing it. I had an affirmation that I used for years, still use it. I'm so happy and grateful now that money comes to me in increasing quantities through multiple sources on a continuous basis. I am so happy and grateful now that money comes to me in increasing quantities through multiple sources on a continuous basis. I just keep repeating that like a mantra. and you write out, you know, I'm so happy and grateful now that I have my possession a million dollars. And that's where you started out intellectually, then you get emotionally involved. And if you keep doing that, ultimately you're going to attract the money. Now you've got to ask, how can money be earned? Money can be earned in all kinds of different ways. We have a company MSI Connect, it's a pet of mine, not my partner's. I don't think she's too loved with it, but I think it's a neat company. MSI is multiple source of income, connect, and there's a lot of people there and they connect with each other. And they set up joint ventures with each other. They set up affiliate things with each other. You can buy different things there. People sell stuff there, you know. they, they study money there. You've got to get into, into an environment where money is talked about, where it's understood.

You know, it's interesting you say that because for, for years, I have studied money at different levels, and those levels of studying have gotten me to those results. But I've never been able to really, you know, but there's always a cap and you've got to learn something new in order to break through that cap into a new level. And I've never really understood the stock market. I've always just invested in certain things and allowed them to just work on their own. But I've never actually taken full ownership of learning it myself. I've always had a financial advisor and things like that. And now I said, you know what? I just want to understand the stock market. I want to learn it because I don't know. I'm still uneducated. I don't even know how to buy a stock. I bought my first stock like a few months ago myself. I've invested in stocks and index funds, but I've actually learned how to do it myself. And I was like, I need to find the best people that are doing this and learn from them and have conversations with them. And it's been amazing in a short amount of time by surrounding myself with people that are doing at an astronomical level just by having a couple conversations, taking the risk and doing it myself and trying it and learn and fumbling around having no clue what I'm doing. I'm already seeing growth in a couple of months. But if I didn't have the awareness to ask those questions and surround myself with that knowledge and then apply it and continue to learn from it, I'd still be stuck to where I was before. And so I think that's what we need to. I love the way you talk about the environment, about constantly being curious, asking these questions and having the conversations, because it doesn't matter how successful we are, we'll be stuck to a level of our past knowing until we break through and find a new knowing. I'm curious for those who want to learn the millionaire morning routine. They want to master this. They want to learn what do those millionaires and billionaires do with their morning routine? You've already shared a few things that you do. What would it look like if you had 90 minutes in the morning to set yourself up to reprogram your money mindset?

Well, I don't think it would take you 90 minutes. You could spend, oh God, nine minutes. If you just write down, write this down right now. I am so happy and grateful. I am so happy and grateful now that I have multiple sources of income. I am so happy and grateful now that I have multiple sources of income. Do you know, if you write that out every day for the next 30, 60 days, you're going to become very, very aware of having multiple sources of income. Wealthy people all have multiple sources. They don't have one or two. They have a whole bunch of them. I don't know how many sources of income I got. I'm not even interested in figuring it out. because somebody else looks after that. I don't look after it. But I do know that you can do that. That's what Keith did it down in New Orleans. God, he just. His life changed so dramatically. And I'll show you different things you can do because anyone can. You want to set up multiple sources of income. Do you know I was flying on a plane. to KL. I used to fly from Toronto to KL once a month and back. It's 25 hours near one way. So, wow. When I'm on the air, in the air, I either work with names, words or numbers. And I wrote down one with six zeros. And I thought, what is the big deal about a million? You know, you often hear people say, what would you do if you had a million? If you want a million.

And.

I got thinking about it and I played with that on the plane for quite a while and it dawned on me they do not have one source of income. They don't have a job. Now some people have a job, earn a million dollars, but that's the unusual one. And then I got playing with it further and I broke it down. They'd have more than one and then I got it multiple and then MSI. Well then I got thinking, we should run a seminar, teach people to earn a million dollars by setting up multiple sources of income. And when I got off the plane, I phoned Mark Victor Hansen down in Newport Beach. I was in KL, I woke him up in the middle of the night. And I got talking, he says, great idea. So we started the million dollar forum. And he got involved, and Bernie Dorman, who just passed away, and Jack Canfield and Lee Poulis. In fact, that's where the Chicken Soup for the Soul books came from, from that particular seminar. And we were teaching people to set up multiple sources of income. Well, they earn many millions from that, but that's where that started. And you are in a beautiful position to set up all kinds of sources of income. So when you think of wealth, you know, you might only earn 10 or 15, 000 from one source. You might earn two or three hundred thousand from another. But you have a lot of them. Right. And that's where you'll earn wealth. Like, I don't invest in the stock market. My wives have bought stocks. Sandy buys stocks. I think I just don't pay attention to it. It's not. It doesn't interest me. I'd rather earn it by thinking, putting an idea to work than let the stock market do it for me. That's not, that doesn't excite me. Sure. I'd rather sit here and think of, if I sat here for another hour after we get off, I could think of a way of creating a source of income. And it would be a damn good one because they're all good, right? Very creative. My mind is, you know, condition along that level. Yeah.

What do you think are three skills everyone should learn in order to generate more wealth and generate more income for themselves or just to improve the quality of their life in general? What are those three skills you wish everyone could master?

Well, you've got to be fairly creative. You've got to have a free flow of energy. energy has to flow through. You can't be stubborn. You can't lock in on something and not want to let go of it. You've got to have a free flow. You've got to be interested in ideas, new ideas. You were talking about not wanting to watch television. I don't watch much. I love watching Shark Tank, though.

Yes, great. and I like Kevin O'Leary yesterday. Yeah, he's great.

Well. Well, they were. You worked with him yesterday, did you say?

I just had Kevin O'Leary on yesterday.

Yeah.

Well, you see now, that guy's mind, it's amazing the way it works. Yeah, but you watch all of them, all those sharks, their mind, it works like a rocket, you know, and they. They break things down. Somebody will say something. They break all kinds of things down from what? The one thing the person will say. they are very, very sharp, every one of them. And Kevin is certainly one of the sharp ones on there, but they all are. You know, I don't know if there's one any sharper than another, but they've got a very free flow of ideas.

Yeah.

So flow of energy, free flow, interested in new ideas. What's another.

I think you have to be service oriented. You really have to be thinking of how to do things for people, how to help people. because money is a reward received for service rendered.

Yeah. It's hard to. It's hard to help others when you're always consumed with the negativity in your own life.

Oh, wow. I mean, that's why poor people remain poor. They're so locked into their problems. But if you listen, if a person is like that, let's suppose they're really locked in on problems. But they hear what I've just said. They really got to think of serving others. How can I serve others? How can I be of greater service? You're going to figure it out. Discipline yourself for, let's say, 30, 60, 90 minutes a day sitting down and thinking of writing down 10 ideas that could be of service to other people. And you probably won't get very good ones for the first little while, but if you keep doing it, they'll keep coming.

Absolutely. Or you'll try stuff in the beginning and you'll learn something from those efforts and you'll realize how to make them better. And maybe don't stick with them. When I started, I was like, doing stuff, just hustling around, trying to figure it out, and you realize what doesn't work for you until you realize what does work. What's something else you recommend doing in the morning routine? I know you mentioned writing down this sentence every day, I am so happy and grateful that now I have multiple sources of income. What other things would you recommend for people to develop that millionaire mindset in the morning?

Get books on money. You too can be prosperous, is one. That was the one by Robert Russell. You too can be prosperous, Think and Grow Rich, the Master Key to Riches by Napoleon Hill. Get reading these books. Get a partner to read them with. The partner doesn't have to be somebody you're living with, could be someone on the other side of the country.

I hope you enjoyed today's episode and it inspired you on your journey towards greatness. Make sure to check out the show notes in the description for a full rundown of today's episode with all the important links. And if you want weekly exclusive bonus episodes with me personally, as well as ad free listening, then make sure to subscribe to our Greatness Plus channel exclusively on Apple Podcasts. Share this with a friend on social media and leave us a review on Apple Podcasts as well. Let me know what you enjoyed about this episode in that review. I really love hearing feedback from you, and it helps us figure out how we can support and serve you moving forward. And I want to remind you, if no one has told you lately that you are loved, you are worthy, and you matter. And now it's time to go out there and do something great.

Thank you.