10 Things to Remember When You Get Rich

10 things to remember. If you suddenly come into money, you may not need this information right now, but you will need it one day, and you must be ready. You may already know that nearly every single lottery winner has lost all of their money within two to three years of the lottery win. And in many cases, they're in even worse debt than when they started. And many of the lottery winners even say, I wish I hadn't won the money. Now, this might sound weird, but as someone who was 50 grand in debt in 2005 and has now done more than a quarter of a billion in sales, I know why this is true. I know why every lottery winner loses all their money. I know the curse that money is if you're not ready. Now, Warren Buffett said two very wise things about money. He said, if you can't manage your emotions, don't expect to manage your money. And if you can't manage the money you have, don't expect to have more money to manage. So I'm going to share with you the 10 things that if you follow these step by step, when you make a small amount or large amount of money, you won't lose it, you won't squander it, and you won't see all the downsides of having money. Now, warning number seven is the biggest killer, and it ruins many people's lives, not just financially, but their relationship with their friends and family. And number 10 is the only one way to protect your money and grow your wealth. Number one, when you come into any money, do not tell anybody, especially your friends and family. As someone who was in 50 grand of debt and became a multimillionaire, I know how people change. When they know you have money, they become entitled, they become jealous. They expect that you should just give them money. There's a saying, no good deed goes unpunished. And many times I've raised tens of thousands of pounds for friends and family and charities. In fact, I've raised millions for charities. And I've had critics, trolls, complainers. I've been scammed and spammed and stalked. So when you come into some money, keep it to yourself. Number two, pay off all your debts immediately, especially money you may owe to friends and family. When it comes to money, I have a rule. I do not lend money to friends and family. I either politely say no, I'll offer them help, I'll educate them, I'll support them, but I won't lend them money. And if I do, in my heart, feel like it's the right thing, I will just Give it to them and not expect it back. At the end of 2005 I was 50 grand in debt. I got my head down and I worked hard and smart for one year. I cleared off the debt, I earned my first 100 grand and I bought 20 properties. No money down. One good solid head down year can change everything for the rest of your life. So get rid of all those debts. Number three is hold onto that money as long as possible before you spend any. Maybe six months, maybe longer. And take that time to learn how to handle this money. You are most likely to make bad financial decisions when you are high and excited that you've got money. That's why all these lottery winners go bust, because they're really excited. They spend money on everything and everyone. They don't know the difference between between an asset and a liability. And before they know it, when the excitement has dwindled away, so has the money. Number four, don't go and buy or rent an expensive house yet. The first thing people often do is buy a house that they can't quite afford or get a high rent in a really nice area and you are committed to that. This recent budget should warn you that your pension is not safe and secure and they're coming for your inheritance. Do you even know how much is in your pension or or where your pension is invested? Add to this the recent inheritance tax grab on your pensions and the risk of a market crash. You probably didn't know this and I didn't until recently, but physical gold can be added to your pension pot. Gold is inheritance tax free and has grown 700% in the last 20 years. You probably know from my content I'm investing heavily in silver and gold and that's why I've partnered with Direct Bullion. Myself and Nigel Farage are brand ambassadors and Direct bullion can help you with gold to protect and grow your pension. I buy my gold and silver from Direct Bullion and I don't earn any money on any purchases of gold or silver if you buy direct from Direct Bullion. So if you go to robmore.directbullion.com you can get a great price on your silver and gold and you can get the Pension Gold Investing Guide completely for free. As you know, I don't do many strategic partnerships and when I do I do them with people who are credible, who've been doing it a long time and who invested things that I invest into and gold and silver's going wild. I'm investing heavily in gold and silver and I recommend you check out robmore.directbullion.com that may end up being a financial noose around your neck for six to 12 months or 25 years or more. I still live in the same house I did nearly 10 years ago when I came into money, I earned it, I didn't get given it. I. I bought a house that was 125 grand with a 12 and a half grand deposit of which half I borrowed. I could have afforded a much more expensive house, but I think that was smart. Oh, and I still own that house today and I gave it to my mum and dad when I became rich. Number five, don't go and quit your job immediately. Maybe with the pressure off, you might actually enjoy your job more. Maybe you could talk to your boss and do freelance or go down to a few days a week. But if all of a sudden you you do nothing, you'll have a lot of time to waste all that money and to have no purpose in life. This recent budget should warn you that your pension is not safe and secure and they're coming for your inheritance. Do you even know how much is in your pension or where your pension is invested? Add to this the recent inheritance tax grab on your pensions and the risk of a market crash. You probably didn't know this and I didn't until recently, but physical gold can be added to your pension pot. Gold is inheritance tax free and has grown 700% in the last 20 years. You probably know from my content I'm investing heavily in silver and gold and that's why I've partnered with direct bullion. Myself and Nigel Farage are brand ambassadors and direct bullion can help you with gold to protect and grow your pension. I buy my gold and silver from direct bullion and I don't earn any money on any purchases of gold or silver if you buy direct from direct bullion. So if you go to robmore.directbullion.com you can get a great price on your silver and gold and you can get the Pension Gold Investing guide completely for free. As you know, I don't do many strategic partnerships and when I do, I do them with people who are credible, who've been doing it a long time, who invest in things that I invest into and gold and silver's going wild. I'm investing heavily in gold and silver I and I recommend you check out robmore.directbullion.com Number 6 Don't go and buy expensive cars or luxury goods or depreciating liabilities or expensive holidays. This is Often the first thing people do when they come into money and they end up spending most of their money on depreciating liabilities. This is why I need to tell you, number 10. I remember when I was 40 grand in debt in 2005 and I still went and got a car loan for a car. Couldn't afford it, bought, but got the loan. I got a Mazda 323 Sport. I got a ten grand loan. Now my debt is fifty grand. Two and a half. Three years later, had to sell the car. I sold it for three and a half grand. So I lost six and a half grand. Then there's all the interest payments on the loan and I still had the loan to pay for two and a half years after I had the car. And now I have seven supercars and they're not funded by my money, they're funded how I teach you in number 10. So number seven is the brutal truth. One, the one that people aren't going to like. But do not give or lend any of this money to your friends or family. Believe you me, money doesn't change people. This is a myth. People change when you get money. Well, I want some of that. That's not fair that you've got that. You should lend me some of that. That's not right that you're keeping all that money. At first, it might be hard when they're all coming, cup in hand, but believe me, if you want to preserve the relationship with your friends and money, keep money out of it. You owe no one nothing. Number eight. This might also sound harsh, but you might be tempted to go and spray and spend this money on your kids. Spoil them, treat them well, give them the upbringing you never had. This is a major mistake. They become spoiled. They believe that the world owes them something. Yes, the kids are dependent in childhood, but in adult life they need to be independent. The only people dependent in adulthood are people who are on the dole getting benefits payments. And you do not want to teach your kids that that's how to get money. The greatest gift you can give your kids is not money. It's the tools that you can use with your money. A great education, a great network and teach them how to make their own money. Number nine, this is a huge one. In this six months that you're not spending your money and you're not telling anyone about this money that you have take the time to learn how to invest that money and who you need to become to be able to manage this money. I've written books on this subject. Money and money matrix because the more you learn, the more you earn. And number 10, the sure guaranteed way to both protect and grow your wealth. And the only way is to take money or capital, invest it into assets that produce recurring or passive income. If you take money and by depreciating liabilities, cars, luxuries, houses, watches, holidays, these go down in value and erode your capital. And in the end, your capital runs out and there's a lot of life left at the end of the money. However, if you take your money and invest it into real estate, good investment, watches, gold, you launch a business, put it into the S&P 500 or the FTSE 100, and you turn your money into more money. And especially with the stock market, with real estate, and with a business that can pay recurring income, not only have you protected the capital from erosion or your own emotions or your own spending habits, but that capital will grow in value as the asset grows in value and. And the income stream will grow in value too. And this is how I bought most of my supercars. Instead of putting 325 grand into my Lamborghini Aventador, I'll invest in an asset like a piece of property. And I'll use the income from the property to pay for the Lamborghini. I'll give you a specific example. I have a 42 unit property that I paid £350,000 for with someone else's money. We did an 800,000 pound development with someone else's money. That property pays many thousands of pounds a month. In fact, it can pay the finance on two Lamborghini Aventadors. I own some cars in an LLP company structure and it's the income from the company that pays for the cars instead of my capital. So they say that money doesn't buy happiness. I say it fucking does. Now imagine if you learn this kind of stuff in school. The Money Matrix wants you to to get a job and question nothing and do what you're told and pay millions in taxes in your life and pay millions in interest in your life because you are a product to the banks and the government. If, like me, you don't believe that this is freedom and if, like me, you'd like to escape the money Matrix, then my new book, Money Matrix Beat the Money System and Build Generational wealth is now available at MoneyMatrix Cash. And remember, if you don't risk anything, you risk everything. This episode was brought to you by Disruptive Media, helping bold entrepreneurs stand out through podcasting, video and social content. Visit disruptivemedia.co.uk to to learn more. This episode was brought to you by Disruptive Media, helping bold entrepreneurs stand out through podcasting, video and social content. Visit disruptive media.co.uk to learn more. Sam.