LEAKED: Street millionaire employee training…how he REALLY got rich..
Summary
- I believe in making as many people wealthy and independent as possible. It's not only about how much money you make, but more importantly, how much you don't spend.
- Wealth is a ratio of what we spend versus what we earn, regardless of income level. By controlling spending, anyone can become wealthy.
- A horrifying stat is that the average American has negative net worth. Being born a baby with zero net worth puts you above average.
- The average U.S. minimum wage worker will make over a million dollars over their career. Median income earners will make over three million dollars.
- Identifying and being willing to give up your financial vices is key to accumulating wealth. Forecasting savings into future wealth can help motivate better spending habits.
- 35% of the average American's paycheck goes to interest. Avoiding debt reduces one of the biggest drains on financial growth.
- You have control over your financial future. Avoid debt, make smart choices, and your money can work for you.
- Own your vehicle and property in cash, reduce fixed expenses, and minimize lifestyle risk.
- Accumulate wealth by steadily saving a portion of your income and invest it wisely, ideally in index funds like the S&P 500.
- Achieving financial independence requires discipline, smart choices, and the patience to forego immediate gratification for long-term gain.
- Avoid complex financial vehicles and unnecessary spending that increases anxiety and detracts from your peace of mind.
- Using tools like the book "100 Million Offers" can provide insights into achieving business success and financial stability.
Video
How To Take Action
A good way of doing things is to focus on wealth as a ratio of what you earn versus what you spend. Start by controlling your spending. This is more important than just making more money. Here is an action plan:
First, save up $1,000 to $5,000 for an emergency fund. Things will come up; we call them "unexpected," but they really are expected. Having this saved means not getting thrown off when things happen.
Next, avoid debt as much as you can. If you have debts, start paying off the smallest one first to get a quick win and feel momentum. This helps more than tackling the biggest debt because it shows you that you can actually do it.
Own your things in cash. If you can, buy a car with cash instead of getting a loan. This cuts the interest you’d pay on a loan and helps you stick to a budget.
For bigger things, like a house, if you can't buy in cash, try to reduce the debt by making smart choices. Refinancing to a 15-year fixed mortgage can help build your equity faster.
Save up three to six months of living expenses in your fund. This gives you more security and reduces stress because you know you're covered if things go wrong.
Once you're debt-free, start saving regularly for your future. If you work on putting at least 15% of what you earn before taxes into something like the S&P 500, it can grow over time. But always use money you won't need to touch; this is your future wealth.
Keep it simple when it comes to investing. Don’t go after complex financial instruments. Stick to tried and true methods that are less stressful, such as the S&P 500 index funds.
Last but not least, don't worry about impressing others with things. What matters is your peace of mind and security, not what others think. This means spending less on things like eating out, fancy clothes, or a new car and instead thinking about how that money could grow over time.
Remember, this is all about making smart choices and allowing your money to work for you. You can definitely be wealthy if you stick to these steps and be patient. Wealth comes from discipline, good choices, and delayed gratification. Keep it simple and focus on the long term.
Quotes by Alex Hormozi
"The first $100,000 is a b****. But you got to do it. I don't care what you have to do. If it means walking everywhere, not eating anything that wasn't purchased with a coupon, find a way to get your hands on a hundred thousand dollars. After that, you can ease off the gas a little."
– Alex Hormozi
"You cannot outwork a compounding interest."
– Alex Hormozi
"Wealth is a ratio of what we spend versus what we earn."
– Alex Hormozi
"The average U.S. minimum wage worker will accrue over a million dollars in earnings over their career."
– Alex Hormozi
"35% of every single American's paycheck goes to interest."
– Alex Hormozi
Full Transcript
moza nation i wanted to give you an inside look at one of our internal company trainings where we talked about personal finance and so i was asked by a lot of people on my in my company uh to do a training on this for them internally and we got a lot of good feedback from it and so i thought i would share it with you guys i got to sign off for from my team and this is going to basically explain to you how you can be in the top one percent without having extraordinary means of income and if you do have extraordinary income then you should definitely be there without making stupid decisions all right and so uh in the video i'm gonna be covering uh different different things for savings different things for investing different ways to structure things um and all that kind of awesome stuff so uh if you guys don't know who i am my name is auction mostly we own acquisition.com it's an 85 million dollar per year portfolio there's a lot of broke people out there and i don't want to be one of them welcome to mosun nation i'll see you guys in the vid quick word from our sponsors before we get going there's this lovely book this is the this is the the actual manuscript of uh 100 million offers uh thanks to most of you guys on this call it's the number one new release in advertising so thank you um when you get to the about halfway point of the book there's one page that reminds you to uh leave a review and if you could do that it would be very helpful because uh the more people read the book the more businesses find out about us the more business find out about us the more sales we make the more sales we make the more secure everyone is and the more jobs we can we can have and the more clients we can help through our uh our businesses by extension and so the more we can change the world so um your book review may indeed change the world uh and so uh that is how meaningful it is so please um go ahead and uh and and grow the book it is 99 cents um if uh if if that's too steep for you um then don't get the book so uh without further ado uh today what i want to talk about is personal finance um and rather do a slide presentation um sometimes i want to mix mix it up um i have a bunch of bullets and i think it went really well with the gym more so i wanted to kind of do the same thing and layla and i talked about who's going to talk about what because we both are involved in our finances uh that's not always the way you know in a lot of marriages you know one person manages money one person does other things but as a as as resident cheapskate um of our marriage it uh it made sense to have personal finance full to me and so uh i will kick this off kick this puppy off with some stats and a quote so quote number one the first 100 000 is a but you got to do it i don't care what you have to do if it means walking everywhere not eating anything that wasn't purchased with a coupon find a way to get your hands on a hundred thousand dollars after that you can ease off the gas a little charlie munger vice chairman berkshire hathaway some of you guys may know this but uh charlie munger is my probably my number one resource for all things wisdom and money and uh i actually think he might even be a better teacher than warren buffett i think warren buffett just picked a couple of stocks that ended up outperforming charles and charlie has not had any like massive home runs he's just been a consistent investor for a long period of time um and a general assault of the earth individual who is full of wisdom and so if you are looking for wisdom when it comes to money i would i would recommend anything that is written by him or any talks that he gives what i want to transition to is um the reason behind this this kind of you know leadership meeting a lot of times we talk about management and uh you know leadership in general and character traits and things like that my goal in general as my life has progressed is to make as many people wealthy and independent as humanly possible and so each of the businesses that we've had have have done that and there's different people who become you know uh wealthy you know through jim lords it's obviously our our clients but i think as as i've gotten older my care has actually shifted towards uh you guys uh our employees of the company and making sure that everyone here um comes independently wealthy and so what i want to do is lay out a plan that literally everyone in this call can become independently wealthy if you follow it is that cool with everyone is that all right let's do it alex yes absolutely like as a belief breaker which is just like everyone and any position in a company right everyone has their compensation levels that they're compensated at i think something that um is really interesting is that what i've noticed over the years is that it's often not correlated with how much money you make let's correlate with everything alex is going to talk about which is how much money you don't spend and so i've had personal conversations with a lot of you who you know maybe you're in the middle tier in terms of compensation you have more saved and more in your bank account less debt than those who make more money in the company and so i just want to put that out there is that it's often you know getting rid of the downside rather than increasing the upside another quote for you you cannot outwork money and so ideally you would like money working for you a horrifying stat is that the average american had negative net worth literally if they were born if you're born a baby and you have zero net worth you're already in the top you're already above average because you've got zero think about how wild that is that's insane and that is because people make poor choices not because of anything else and so i want to be very clear about my my view on this and it's one of victor rather than victimhood we all make choices and independent of what we make wealth is a ratio of what we spend versus what we earn therefore if you earn anything you can become wealthy by controlling what you spend so that's stat number one step number two the average u.s minimum wage worker will accrue over a million dollars in earnings over their career if they lived and worked a minimum wage the entire time and never got a pay raise which barely even makes sense because with with every you know every four years minimum wage goes up anyways right so think about that for a moment that means a million dollars is going to flow through the hands of basically any worker who works full-time throughout their career in the u.s all right next one the median u.s income earner will make over three million dollars they will earn that over their lifespan pretty wild right what if we controlled the flow and we actually made good decisions about that lots of cool things and i will show you that in a moment and i want to reiterate one more point and if you want to dot it underline it highlight it wealth is a ratio not a number between what you earn and what you spend right now there is something that is in your life if you do not have the amount of money you wish or you're not saving or investing at the amount that you want that is eating away at it it is your number one nemesis for some people it's sneakers for some people it's eating out for other people it's clothing and so the question i have for you guys is first off in the chat if you guys will be open and honest with me what is your vice what is the thing that eats into your accounts what is that thing that you love spending on and you feel guilty but you get that dopamine rush every time you buy it what is that please put in the chat the more honest we can be the better it'll be for everyone high heels me too i'm with you on that one right skincare eating out kid stuff food food and beer okay cool fantastic this is good coffee gotta be spending a lot of money on coffee alcohol a lot of people drinking going to the bars going to the club right there's a lot of things and so the next question is and this is kind of why this is a behavioral question because becoming independently wealthy is not complex it's simple not easy and so my question for everyone on this call is are you willing to give up your vice to be a millionaire it's a genuine question i'll tell you a brief story um and then i'll get into some of the more tactical stuff and i want to make an example because there are some limiting beliefs around this that i think um me debunked wealth is accrued through character traits when i uh a lot of you guys may have heard of the story of when i was sleeping on my gym floor has anyone heard that story a guy sleeping on the floor didn't have enough money right what you don't know is that i was making five thousand dollars my second month in business in profit the third month i made ten thousand dollars the fourth month i made third month i made fifteen thousand dollars the next i made 20 the next i made 25 the next i made 30 the next made 35 and that was in profit and i was sleeping on the floor and that was because for me i get tremendous amount of anxiety if i spend any amount of the income that i earn that is not negligible and so i wanted to take as much of that money that was coming in and adding it to my bank account and so for me and for everyone here if you can gamify that one simple number which is what is in your bank account you will win the game and so many of you are not in complete control of your finance because you also have a spouse and so we will we'll distribute this to you guys so if you want to play this with your spouse because maybe by the end of this call you decide to make some decisions i'd like to get them bought in as well because you have to do it together right not one of you can do this you both have to do this together if you are married but if you do commit to this and you can play a game which is the game is how little can we spend and see if you can beat your last month's total every month see what else you can trim see what else you can not spend money on because it becomes fun and interesting and as soon as you can make not spending money fun i promise you you will have more money than you ever need you'll be able to eliminate the stress in your life around money and i mean this so sincerely from the bottom of my heart everyone here in this company can become independently wealthy can become the top one person in america simply by the habits that you choose to make today like i ca i'm serious as cancer right now and i wish i could tell better stories that i knew how to break the blues and we can do this um and i'll try and address them at the end because some of you will have limiting beliefs around this but if you make the steps that i'll walk through today um they will they will benefit you and there's only six steps that i'll walk through they're very simple and they're very straightforward okay now next next little stop on our adventure okay is let me show you the eighth wonder of the world does anyone know what the eighth wonder of the world is so let's say marcos how old are you you can unmute if you want to tell me fantastic want to see some crazy marcos because i'm about to show you let's say you have zero dollars saved up okay i don't know what you got saved up but let's say you've got zero dollars saved up are you curious by any chance how much if you saved 100 a month you would have by the end this is not the actual amount are you curious do you want to know how much you'd have if you saved up 100 a month and you just put it in the s p between now and when you're 75 yes you're curious do you want to see very 2.7 million dollars pretty interesting right yes very i would agree with you so check this out let's make this zero this is something that i have saved on my phone this calculator i have saved on my phone and so right now let's say that you're looking at making a jordan's purchase right you see the new jordans and you're like man them shits are sexy so you take your hundred dollars and you think well i could either have these jordans or when i retire i could have 22 thousand dollars which would you prefer the 22 grand i agree with you i would as well i made similar decisions throughout my life now if you looked at going out to dinner for example or going out to lunch and maybe just going out to lunch three days a week right it's an extra let's say 12 bucks a day right three times a week so it's 36 bucks times four so you're looking at like 130 140 bucks just by not eating out 31 000 and that's just one month now if you did that for a year you'd have 400 000 wow i agree with you but no one does the math that's crazy i've never thought about it that way that is the purpose of this call thank you marcos yeah thank you you bet and so one of the number one things that happens and one of the limiting beliefs that people have is that the amount that i can save right now is not enough it's not enough to make a dent it's not enough to do damage now some of you on this call might not be 19 years old and have you know 60 years of content behind you right so let's look at let's look at what probably the median age in this company is which is 35 years old okay and so let's be a little bit more aggressive here let's say again you start at zero but you decide to start saving 500 a month i know that's aggressive but let's just say if you did you'd be able to retire with three million dollars it's 100 bucks a week the thing is is that just about everyone here if you make different choices about how you live what you spend your money on you would be able to have this outcome and i mean generally from like the bottom of my heart it's just like fitness right you have to you have to burn more than you than you eat this is simple eat less than you burn or yes exactly thank you saving money and personal finance are simple except the thing with weight loss is you don't have any compounding thing that's working with you right with money your money works for you right while you sleep and so that's the magic of this and here's what's cool marcos i will show you something interesting they might be like how is that even possible how can i say 500 a month from now being 35 until i'm 75. well you only contributed 240 000 here i mean that's a lot but this is how much your money worked for you which is why you can't not work money you have to let money work for you and so the number one thing that will create wealth for everybody here is your income that is the thing that will create that that is the flow right obviously throughout the company you can look at different opportunities to make more money to to you know to get promoted to to add more value to the company things like that so you can increase your inflow but for just about everyone here and what's kind of funny is that i have had many conversations with people and i want to be really transparent here there are people who make the most in this company are among the most i would say the top 10 earners in this company who i have had conversations with who have zero dollars saved up i've also had conversations with people with the top ten percent earners company who have negative net worth i've also had conversations with people who are in the bottom 20 in this company they would have higher net worth than the people in the top percent 10 and so to me that shows that it's choice it's just a choice and what i can tell you is somebody who's made this phenomenal amount of money throughout my life my level of well-being has been no way affected by anything that i've spent money on material goods do not increase my acceptance of subjective well-being and so if you're if your goal is to seek to decrease the anxiety that you have in your life because of finances then the easiest way to do that is to spend less money because you have lower risk consider your fixed expenses and your lifestyle your risk basis this is your risk that you have as an individual and so if you can make yourself an investment that has very low risk and very high return you will reap the benefits over a long period of time and so this again is assuming you save 500 a month that's it now let's just get wild and let's say you go all in on this you just you just go nuts and i'm going to give you some of the habits and all that kind of stuff in a second but i just want to paint the picture first so let's say you did the same exact thing but you were like you know what i'm totally changing my lifestyle i'm downgrading where i live i'm selling the lease on my car and i'm buying a car and five thousand dollars in cash that i have no payments let's see where this takes us 2500 bucks a month it's 14 million dollars just in case you're curious that's not the top one percent that's the that's the top point four percent of the united states and you just get there through making smart choices and this again is assuming you have zero dollars saved up so this is for you marcos let's say you save 25 000 by the end of this year because you do a great job and you live like a cheap ass all right and you put no more money in for the rest of life all right and you start because you're 19 years old that's how much money you can have 5.5 million dollars if you just save 25 000 today and put it in the s p and never think about it again marcos you could be hoodrich right and so one of the things does anyone here know what the number one drain on net worth is besides taxes 35 of every single american's paycheck goes to this one thing yes laura larose interest 35 so for context imagine right imagine where you had a franchise right and so i i own i'm the franchise pro subway i have i license out my business model too 10 000 restaurants subway gets 10 and they kill their franchisees because there's no margin in food do you know who's killing them three and a half times more the banks 35 of the average american paycheck goes to interest that's it and so right now what i just showed you was 500 a month so can everybody here just for just for shits and giggles multiply what you take home by 0.35 put that in that calculator i'll wait for you guys to do it multiply what you make by 0.35 and put that in as your monthly contribution you can start with zero dollars you put 75 as your retirement age the reason you do that is because we're all going to live a lot longer than our ancestors at so why you guys are doing that and getting that calculation and the reason i'm asking you to do this because i want you i want to show you that it's worth it to make these decisions and so the reason 35 is that for example let's say you buy a house right you've lit you you're realizing the american dream which is hilarious because you didn't actually buy a house you got a loan because the banks have zillions of dollars of advertising to make you to fool you into believing that is now the american dream is that you owe them money that's the american dream is that you owe someone else money and that 35 of your paycheck goes to them for the rest of your life you could also get into student debt which i absorb and heat to like every ounce of my being but i won't even get into that so let's just talk mortgages if you do buy a house and you're the average american and you move in three years which is what the average american does they move every three years do you have any idea what percentage of all those quote mortgage payments that you're making are going towards principal which means the actual amount of the house dominic correct you have a 30-year mortgage your first three years you're paying jack towards your principal which means you just leased it from the bank and then they get somebody else in and then they and they and 97 of the dollars that go in there go to them and the bank holds the note on everything to the same degree if you buy a car and you can't buy it in cash the same interest applies except it's even higher isn't that wild isn't that nuts what's what's more is that for those of you who have student loans think of how crazy this is they lobbied to get the government to back student loans which means they gave 18 year olds so everybody who's on the sales team understands this but if we try and give a business owner get a business refinanced right in real terms of the likelihood that they pay back the debt for even fifteen thousand dollars right the approval rates like one out of three for 15 grand and yet because the government allows this they allow banks to give a loan for 200 000 to an 18 year old with zero earning potential and they say that they can never get out of it which means that that percentage of your paycheck what they did just like that subway that roy would say off the top they're getting a royalty on your life 35 of everything you make forever they allow people who aren't even old enough to drink put themselves in enough debt they can never get out of now i believe in personal accountability you should be responsible for your decisions but i don't think you should be subsidized back by the government the purpose of today is hopefully to shock you a little bit into how much many people on this call are being robbed by decisions and the invisible hand that is taking money from your pocket every single month and so if you guys will let me i would like to walk you through six steps to get out of this mess is that okay with you guys so you saw the sunny side which marco's got to see you can be worth 6 million dollars if he just saves 25 grand this year and doesn't do anything else on the flip side for everyone else right not just marcos hopefully marcus you don't have a mortgage and student loans and all the other things right hopefully for everyone else you can see what has been robbing you and your ability to create generational wealth is this one thing and so my goal is to get us to get this this this monkey off our backs and so one more one more stat that i will that i'll push towards you is that does anyone hear anyone willing to be honest that is anyone here have credit card debt does anyone have credit card debt okay so who here know has hurt you know like compounding is the eighth winner of the world which is what marco's eyes popped out of his head when he saw the note right eighth wonder of the world is compounding you can also have negative compounding interest which compounds against you and so you have the eighth wonder of the world beating you up every single day rather than lifting you up so that you can become financially afraid that is the eighth wonder of the world working against you because it's compounding and for many of you you know credit card debt 10 12 16 per year if you could get it if you could get a an investment that'd be 16 a year you'd be stoked and that's what exactly what every single bank did in the world is they make you the investment that they get sixteen percent compounding in we cool is everyone like i have everyone's complete attention what i want to hit on are the the six the six pieces here all right number one is that you have to start saving money and you do that before you start paying debt off all right you're like how much do i save what you save is something called an emergency fund and the reason you start there rather than paying off your debt is because something will come up and if you learn the habit of stopping to pay off your debt you'll stop paying it off it's like going on vacation and so think of this as the vacation fund for your financial fitness is that we need to plan for the vacation that's going to come so that we don't get off base for most people that emergency fund is between one thousand and five thousand dollars i will let you decide on on what that is based on your income but what that is is when your carburetor and your car goes up or when you break your foot and you have a service it's the stuff that is quote unexpected but 100 predictable that it's going to happen at some point in your life and so the idea plan for the thing that you know will happen you just don't know when the only variable is when not if and so has anyone here i'll ask this question to prove the point can i just get hands you can see it on the screen has anyone here in your life had an unexpected bill come up so then can we call them unexpected let's call them expected bills and just plan ahead all right so the first thing that we do so if you're writing this down the first thing you do is you save between one and five thousand dollars i will let you make that decision you are grown-ups that means that even if you have your credit card debt even if you have other things that are stupid that's fine for right now the first step is to save one to five thousand dollars step one step two you pay off all your debts minus your mortgage so if you have a mortgage don't worry about the mortgage for now we'll get to that in a second except for the mortgage you pay off all your and it is my my two cents that it's better to pay off the smallest debts you've got even if you've got one that's let's say 20 and you've got another one that's 10 and the 10 one is smaller despite it mathematically making more sense to pay off the higher debt one no one here has made any rational decisions up to this point so why would we make them now the point is that we need to get the emotional victory we need to lose some weight we need to tighten our belt all right and you need the first win so that you can see that you can do this and so you pay off the smallest debt first and then you pay off the second smallest debt and you'll feel is momentum and you'll see that you can do it and so what i my earnest ask is that if you can team up with your spouse on this and you show them how much money you could be making with just what you're paying in debt right now 35 of your paycheck and how it can be create independent wealth for you and your family for the long run just by doing this then hopefully it will make it worth it more than getting a dessert at chili's although i do love desserts at chili's i think they're fantastic do it when you can afford it and you can pay for it in cash and still hit your budget to show you to the extent how much layla and i believe in this we bought our home in cash we bought our cars in cash everything we pay for in cash we have zero debt total zero and what i can tell you is it feels good knowing that no one can take your away from me because for those of you who like to be more sophisticated and read up on articles on crypto and robin hood let me tell you an interesting concept that i learned from somebody who's much wealthier than me they said debt increased risk risk if expanded over a long enough time horizon will eat away the returns that the additional leverage gain because anything any number no matter how big multiplied by zero is still zero so it doesn't matter how good you are and how much you saved if you take on too much risk which is what debt is over a long enough time horizon it will multiply you by zero which some of us are old enough marcos you're not but some of us are old enough to remember the 2008 2009 collapse i will tell you that just about every entrepreneur friend that i know lost everything they start back at zero and marcos you saw that you're at 19 and if you didn't up if you don't up between now and when you're 75 which means you don't take on debt and you just you need to pay for things in cash and you budget how much you make right and you spend less than what you earn you'll be able to be financially wealthy for the rest of your life you'll also never have to worry about money ever and the only reason people don't do this is because they think that status and how good they feel about themselves live in the eyes of others rather than their own eyes would you rather be rich or have everyone think you're rich it's a real question and most people answer by their actions which one they'd rather actually want which is why finance and personal finances is much more a question of character than it is about intelligence is anything here complex that i've shown you arithmetically save more than you earn right spend less than you earn do it for a long period of time don't buy you can't afford and no money to do it i told you step one save one to five thousand dollars step two pay off your debts smallest to largest not in terms of interest do it in terms of smallest to largest for many of you that may take one year two years or three years and i know that this is the that's the rocky cut scene that's the part of the movie that everyone fast forwards through but i can tell you that the amount of spiritual growth that happens when you consistently live disciplined will change who you are and how much control you perceive that you have over your life and you may lament the fact that you have student loans you may limit the fact that you got into a 30-year mortgage we'll talk about in a second but those things are done there's nothing you can do about this all we can do is the choices that we have in front of us and so the question is are we going to let the decision that we made years ago rob us of the future that we can have if we choose to have it one save one to five dollars two pay off all debt that is not not your mortgage in terms of smallest to largest you paid off just you know as soon as layla and i started making money we paid off her student debt right like we live by this this is i believe this falls to bones through and through all right third step in your in your piece of in your financial freedom is actually expanding your emergency fund those savings you don't invest those those are just so that you can live as a human being and feel safe some of you will have larger need for security other of you will have smaller needs for security and so the range for this is three to six months of living expenses now the fact that you've done this after you paid off your debt aggressively you will already have the character traits in the discipline to know how to live on less which means you're very able to one you won't even have to save that much because you already have been living on so little so three months might not even take you level and you would be amazed at how much more money you have when you have no debt that goes out every single month paying the banks you will be blown away so right now for shits and giggles because that's why we do this right chess and giggles nothing here is serious as cancer right except for you know your future and everything else who here has a car payment can you get a hand you have a car payment okay who here leases where they live or has a mortgage now if you were to add that amount of money up remember that calculator i want you to put that in the calculator again i know i'm asking you to do some work i think it's worth it can someone throw some numbers of what that would equate to 2.1 million dollars there it is and just so you know no one can guess what your car payment and your house payments are based on this number so don't worry about it six million dollars 3.2 million dollars 5.6 million 3.8 million dollars so 2 million 15 million 1.5 million dollars 2.8 million dollars how nuts is this this is the they don't tell you this is how everyone at the top makes all the money they loan people who can't afford things things they can't afford and they settle them with that that's compounding against them for the rest of their lives that's the secret so if you don't want that working against you these are the hard decisions right now if you can have the hard hard conversation with your spouse and think to yourself is there a way because now at this point in the in in this process you can try and pay off where you live so that that money that you're currently outflowing becomes your retirement fund you could literally do nothing else you could just do that and and own the car you have in cash and just so you know as somebody who's had super cars and had a prius that was worth five thousand dollars it gets me from point a to point b in the exact same amount of time it was also the biggest regret of my life is buying the the bentley that we had number one financial regret i have i get zero enjoyment out i miss our little broken prius that i did a dent on the side door and had a crack through the windshield and for context just so you guys know that i'm drinking my own kool-aid when we owned that car as the only car that layla and i split we were millionaires and i had a lady who was in our mastermind named monica patar who saw us pull up to our mastermind in the prius with a cracked windshield and the dents in the door and she said i thought you guys were supposed to be rich as she walked into the mastermind which you as of course a guru are horrified by this kind by this idea and i said i am i said you should look at my back and so that's the kind of thing that just like it just gives you what kind of confidence do you want do you want someone to say nice car or do you want to bait let's say you should look at my bank account there's a kind of stress-free living there's a kind of confidence that comes from this there's a kind of you money energy that's hard to fake and i would like that for everybody here on this call and it is 100 attainable for everyone here just making the right choices so the number one the easiest thing you can do is if you have a lease you can turn it in early and you can buy a car for five thousand cash you can save up for it okay but once you do that remember that hundred dollars a month that 200 a month that's some of you guys are paying as soon as you save up and you do that one time that two dollars a month becomes a constant flow that for the rest of your life is adding towards your and then you can choose to downgrade and not live in the really ritzy fancy neighborhood that you live in now that might be above your means or rather is above your means because you can't buy the house in cash and you're just loaning it from the bank right and this is stuff that no one says it everybody wants to you know impress their parents to show them what neighborhood they live in rather than impressing themselves and giving themselves a stress-free life again for context when i did decide to lease my first spot where i decided to live if you guys are curious i split a bedroom in a house bedrooms i split one bedroom with one another guy i paid 400 a month in rent and this is in southern california for anyone who has contacts 400 a month gets you nothing i split a bedroom in a house and again i was making twenty thousand a month and i'm not saying i'm saying this because i believe in this so thoroughly and very luckily on my part i was i was raised by a father who came to the united states with nothing he was an immigrant he had one thousand dollars that he was able to take with it and so we'd split the paper towels in half right because we didn't want to you know waste them we never used napkins because those are expenses used housed the dinner table right you saved everything we always would get like two milks at costco which were like the big ass gallon ones and it was just me i was the only kid and he's like drink up it's gonna go bad because he didn't want to buy the milk at royal farms or 7-eleven whatever you guys have it was like a dollar more all right and that's why if you guys can gamify this with your spouse you'll win the game because if you can play the game you'll win but most people just don't realize that you are in the game right now and other people are playing you so i gave you the first habits one to five thousand of emergency and you do that before you pay debt because something's going to come up and you don't want to break the cycle of paying off your debt so you do that first then you start paying off your debts from smallest to biggest so you can get the emotional victories and you start winning number three then you save up three to six months of living expenses so that you can feel financially secure so you don't have to worry this will lower your stress and it will make your life much better the point that most people have of becoming wealthy is because they want to become happier the easiest way to become happier is become less stressed the easy way to do that is save some money fourth step this is where you look at how you can start building wealth all right and so the way to do that if you have a mortgage and you don't want to live somewhere else renegotiate the mortgage you can refinance right now because right now interest rates are nothing and try and get a 15-year fixed that will make your mortgage go up but the vast majority of the money will be going towards something that you own and so your principal will start you will be increasing your net worth fun fact you don't pay capital gains on selling the house that you own so if your primary home increases in value and you live in it for over two years and then you sell it and decide to go upgrade because it's gone up and you can buy 100 of your new house with the cash that you have saved up you don't pay taxes there are some things the government has done to help people out that is one of them so if you insist on on living somewhere that is beyond what you can currently pay in cash then refine is to get a 15 year fixed and then when it comes to cars if you can combine because most you guys work from home well most of you everyone here works for mom you probably only need one car and if you're like no way it's like layla and i live with one car we still live with one car actually now we have to but like we lived with one car for a very very very long time right and i'm about to return because i don't need to so if you can buy a car in cash which there are tons of good cars in cash and here's what's crazy cars in cash that you buy and you use for three years thousand dollars you can sell for five thousand dollars you just use it for free pretty well all right everyone ready for five step five all right step five is exciting step five is where you invest 15 of your pre-tax pre-tax income into the s p 500 again i'm not an investment professional i do not recommend that you listen to me in any way you should consult your own professional advisors for any investment advice uh and this is not a recommendation at all because i don't know what i'm doing and so you can make your own decisions as an adult uh to choose to do with your money what you want to do if you look at the last 80 years of the s p 500 it's gone up by about nine to ten percent per year for that entire period of time now if you guys haven't heard my talk on volatility and risk it's good to understand this the reason we built up the emergency fund of three to six months of living expenses is so that you never look at that money and that you never stop putting money into it and i will tell you one story that you guys know half the story about and for those of you who are about to read the book you're going to read the first half of that story which is that i went almost to bankrupt and i had a thousand dollars left in my bank account right before i started gym march what you guys don't know is that i had just under 300 000 saved up that was in an index but to me and you can tell by the way that that story was wrote that money does not exist once it is gone it is gone you never see it again you never touch it don't look at it and if you need to make money you find a way to make you sell something you work an extra shift you take up uber on the weekends whatever the point is you don't touch it because if you can learn that character trait you can learn not to put your hand in the cookie jar you see the money that marcos can have if he just puts ten thousand dollars away or twenty five 25 000 mark goes i see something really crazy let's say you save 25 grand this year and let's say because you're like alex i'm all in on becoming independently wealthy let's say you save 2 500 bucks a month all right because you hustle your ass off selling here's what's crazy that money that 74 million is being made it's just the question is whether you're going to be the one who makes it or the bank that money is being made either way think about that money is being made all day every day all the time the dollars always work at the same degree for whoever their master is the question is whether you're the master of the dollar or the person you're paying and if yes you're curious about like what the tactics around this are all you do is you download robinhood which is the app which is free connect your bank account and you can you can deposit straight into an index off there it's very straightforward you don't need an advisor they're just going to charge fees which are actually going to kill your returns so don't worry about it s p 500 again this is not investment advice do whatever you want with your money in fact i might not know anything so i definitely i would say don't listen to my boss right this makes sense for everybody i'm gonna go through the steps one through five again from the top one save one to five thousand dollars because that is the guaranteed fund of something that's going to happen to you you just don't know when number two you pay off your debts in order of smallest to biggest not in terms of the number how much money how much what percentage it's earning at you pay in terms of how little you have to pay it so you can eliminate it and just start crossing out line items all right step two step three you save up three to six months of living expenses it's up to you depends on your risk tolerance marco can probably save three you don't have kids or a wife if you've got kids and a wife you might want to save up it's up to you step four you look at what you're living with so if you have a lease on a car trade it in get a 5 000 car and live on that period if you can downgrade where you live and what neighborhood you live in do it because i can tell you we just saw how 35 of your check is going to make someone else 74 million by the end of your life it's just up to you whether you want to make it or you want someone else to make it step four actually that was step four uh if you if you insist on living continued step four step four b if you insist on living in the same place as you live now then refinance for a 15-year fix that way you're gonna get the vast majority of the one that you're paying is gonna go towards the equity of the house and not to interest fees and if you do that you'll be like whoa the amount i have to pay for month is so much more it's almost like you're actually trying to buy it fifth invest 15 of your pre-tax income pre-tax you have to do some math here so if you make 50 000 a year you multiply that by 0.15 which is 7 500 and that's what you save that's minimum you can do more than that do more than that get aggressive with it right and if you want to be a superstar let's say you do that 15 year fixed and you invest 15 you plow the rest of the excess cash that you have into that equity so you can pay it off early you need to make sure that you have no prepayment penalties so maybe you pay your 15 year fixed off in 10 and then in 10 years here's what's crazy you have no car fee you have no house fee you've learned to live on far less than you make and now everything beyond the food you eat goes into building your wealth everything and you'll be you will be frightened to see how fast it grows and i will share one more fun fact for you guys today right now layla and for this year made more money on our money than we did from our companies and i'm being transparent about this because i want to show you that it's possible you also if you read the book see that i had a thousand dollars on my bank account saved up and when i started my first gym i had four thousand dollars total you can do this it just takes discipline it just takes making choices where you look marcos that pair of jordans instead of seeing a pair of jordans you see 22 000 that's what you have to see when you see go getting beers with the boys on the weekend for 20 bucks right of course you wouldn't do that because you're 19 and that's below the legal drinking limit so the non-alcoholic beer that you get because you're a crazy person why would you drink up non-alcohol beard weirdo anyways so you go get your nine alcoholic oh duels right for 20 bucks and instead you see that that's six thousand dollars 6000 rk speed very expensive so just about everyone here has been drinking top shelf their whole life they just don't know that okay one thing alex that's from yes i was i was about to wrap up and open it up so we're good okay cool um something that um you know because alex and i obviously you guys are probably like well you guys own the companies you know you have lots of money like are these things there's a few things i want to point out which is one when we first learned about money and money as attention was when we were literally like we had it was when we first started gym launch we went almost bankrupt like in credit card debt like all that stuff that's when we got a coach who taught us a lot about money and one of the biggest things that he talked about was the attention of money the attention of debt and so with the first paycheck i got from when alex just paid me like an employee when i had made all the sales in the gym in hawaii i paid off all my debt with that and so the reason for that was like i only had a very small amount left it was just like the attention that was going towards that debt right the second thing with that is the same is true with things that you accumulate and this is something that we've gotten the opportunity to learn as of more recently like we had one car we had a small apartment we had all these things when we first started the companies and then over time you think hey well there's such a large discrepancy in between how i live and then what i have that maybe i can fill it a little bit and then what happens is that you have attention on those things because if you get a car that's more expensive you can afford it but it's the attention it takes because that's like for an example a toyota you take into the shop takes a week to fix we have a car that's in the shop right now it's been eight weeks has been fixed right things like that that become complex even though it doesn't need to be and so it's not even just the things that you're buying with money it's the attention you get back when you start saving the money so for example i used to tell people when they would come into the gym they'd be like i'm in debt and i'm overweight in the snack i'd be like well you have your nails done your hair done your eyelashes like why don't you just get those things on we're like they're like well i don't feel good about myself because of those things right i do those things to feel better about myself i'm like but the reason you feel bad about yourself is because you're in debt and you're fat so what the hell and so i think that a lot of times those things that are like vices for example cover like a short-term pain fear anxiety insecurity we have but it's actually just piling into the long-term one and so it's like in the short term it might feel worse to save that money but in the long term you'll have way more attention and way less anxiety if you do so i just want to share that i think it's even if you have the money to get stuff stuff adds complexity which adds more anxiety and so it's like we all want more money so we can have stuff but then you just feel worse anyways so it's just it's just ironic was this guys was this valuable for you guys this was different than leadership management stuff and how to run meetings which are all very important as well but my goal is if i can decrease the stress of everyone on this call by helping everyone make good financial decisions then you know eventually we can operate as a company of people who are not stressed wouldn't that be nice because we realize that no matter what we're secure and we know exactly what our expenses are we know exactly how much we earn and we know that we make far more than we spend and we also understand that we are 100 in control of our finances and so my my plea to you is that if you've ever felt like someone else is in control or you feel like you've been dealt the at the stick right or you drew the short straw that no one cares and it's still up to you like no one's going to come to save no one's going to come to sleep but the good news is that what you need to do in order to become the one percent in case you're curious one to five million dollars in assets is the one percent that's it and we just showed marcos here how to do that with twenty five thousand dollars and so everyone here if you're like man but i've got i've got but i've got but i'm different you're not just stop you're not you're not my metabolism is different really you've solved obesity we can just cure africa from starvation because your metabolism is special you've figured out a way to not eat food and still gain weight we have to put you in a lab so we can crack malnutrition we can just figure out the genes that you have that somehow cause you to not lose weight when you stop eating right somehow you've cracked arithmetic and somehow figured out a way to spend even to somehow lose money and go into more debt despite spending less than you earned all right like you're not special the math is the math right and so i just like i wanted to do this call because it's important to me that everyone here on this call can use gym launch to become your financial vehicle for wealth and effort can do that minimum wage makes a million dollars over their lifespan and i showed you the contribution of the 500 a month person is 240 000 and it created three million dollars so the question is do you want to look like you live like a king or actually live like a king and i think that living like a king comes from the peace of mind that you get and for me that is how money serves me because you have to figure out how many serves you or whether money's serving you at all but that 74 million dollars that marcos has the potential to make over his lifespan that money is being made the question is whether or not you want it to be you who makes it all right my sermon is over you got five minutes left i'm gonna hold you um otherwise thank you guys for your attention and um if you guys do get a chance uh grab a copy of the uh our sponsored our sponsored book 100 million offers you can find it on amazon in the link and if you feel uh so compelled to leave a leave a review that's good then please do so if you hate the book then please don't leave a review anyways lots of love guys uh appreciate you all thank you so much for for being on this journey with us i hope that we can all use um the well-being that we help gym owners uh succeed with and we can also use the income that you guys have to set yourselves free as well because you can do it easy catch you soon bye