078: How the Rich Invest – Jonathan Duong
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Do you want to get lucky or be good?…
That is the question. If you want to rely on luck, your wealth likely won’t last. Instead, you should stick to timeless principles that will bring you massive wealth.
In this episode, Jonathan Duong of Wealth Engineers and I discuss how you can build massive and lasting wealth.
You better get your pen and paper out for this episode of YoPro Wealth, because there is a lot of wisdom shared. Enjoy it!
In This Podcast, You’ll Learn:
- How the rich set themselves apart from everyone else.
- Why you need a practical approach to investing.
- The biggest mistakes that most people make.
- The first few steps of taking control of your finances.
- When to consider if you need a Financial Planner or not.
- Jonathan’s favorite books on investing!
- The one action you need to take ASAP to get headed towards wealth.
- And much, much more.
2 Secrets of the Wealthy
Two secrets of the wealthy that I talk about in the book are:
1. Start With Gratitude
I’ve heard and read about so many successful people that start their day with gratitude. One practice is to write down everything that you’re grateful for before you do anything else in your day. You create your future, and it should start with gratitude. Here’s a brief book excerpt:
“By focusing on the positive, you see things in a completely different light and it impacts everything else. Every time you express gratitude, you are re-wiring your brain. You release dopamine into your brain, which makes you feel good, which in turn makes you more productive.” – Matt McWilliams
This is one of the many uncommon secrets shared by numerous guests. The way to turn things around from negative to positive begins with gratitude.
“Step #1 for Turning Terrible Into Terrific (Dr. Dennis Cummins’ book) is for people to be grateful for what they’ve got, no matter what it is. Start with gratitude.
As long as you’re focusing on the problems, what’s wrong in your life, you’re going to get more of that because you’re stuck in the ‘whoa it’s me’ syndrome. There’s always a lot of blame, but when you can find gratitude for what you’ve got, it changes your mindset and your way of thinking. It’s easy to be grateful for the things in your life when everything’s going well. The challenge is to find something to be grateful for when they’re really not going well, when things are really terrible. How do you look through all the junk, all the things that are not good to find the one thing that is? If you start focusing on that, now you start to develop a more positive attitude. The first one, just find something to be grateful for.” – Dr. Dennis Cummins
2. Thank You Letters
August Turak, Matt McWilliams, and Patrick Bet-David all shared their #1 tip for success: send handwritten thank you letters to people.
“The 5 minutes to write a thank you note statistically, according to research for about the next 3 hours, you have a 31% increase in productivity or 18 minutes more productivity. You get also the added benefit of affecting their lives, which in many cases will benefit you in return.” – Matt McWilliams
Both of these things not only build relationships and create positive momentum in your own life, but they also both make you more productive. Who would have thought?
What I want to teach you is how to do exactly that, and you do it by thinking differently. This is one of those ways.
Make someone’s day and the rewards will come back to you tenfold.
Book: The Key to Making Money
This is an excerpt from my upcoming book: Make Money, Live Wealthy. For a limited time, get a free copy of the book sent to you on launch day here!
The key to making money, per Dan Miller, is to create amazing relationships.
“I focus on creating those amazing relationships and doing the things I really love and serve other people well. And you know what, money just shows up even in unexpected ways. What can I do to increase my service to my customers? Answer that question in new and better ways, and profit will take care of itself. No man can become rich without enriching others.” – Dan Miller [Read more…]
Savings Tip #2: Avoid the SOS Mentality
After all, it’s not how much you make; it is how much you keep that matters.
Whether your income is $500,000 or $50,000, you can’t get ahead unless you live below your means. The best way for many to make progress with how much you save is by avoiding the emotional (see: regrettable) purchases As a result, savings tip #2 is to avoid emotional spending.
Get rid of the SOS (shiny object syndrome) mentality – the feeling of going out and having to buy stuff. – Mike Kawula on the YoPro Wealth podcast
077: Overseas Real Estate Investing – Taylor White
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The decision…
It all starts with that. Just know that wealth is a choice, and you have to make the decision if you’re going to be wealthy or not.
Taylor White made the decision that he was going to combine his passion (traveling) with his work (real estate), and now does overseas real estate investing.
In this episode he shares how exactly he does that. If you have an itch for travel and/or investing in real estate, this episode is for you.
In This Podcast, You’ll Learn:
- Why “hope” should not be in your money making strategy.
- How to find your dream career.
- What the lack of focus makes you do.
- The secret to real estate (or any) success.
- How an investment is won at the beginning, not the end.
- The specifics of a real estate deal, and what you can earn.
- Different ways to make money in real estate.
- The power of Ready, Fire, Aim.
- And much, much more.
076: The 4 P’s of Building Wealth – Rob Wilson
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All things, big or small, are complex if you let them be. The secret that Rob Wilson and I learned in engineering school is to break that complex problem down into smaller, more manageable chunks. Wealth is no different. In this episode, Rob talks about the simple ways you need to think about making money that will get you in motion towards achieving your financial dreams. [Read more…]
075: How to Crush It Online & Offline – Marcus Sheridan
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All that you need is one break…
And the rest could be history. But the thing is, you create that one opportunity yourself.
4 Years ago Marcus Sheridan was struggling along. His business was hurting, as was he financially.
Today, Marcus has created multiple powerhouse businesses and is thriving more than ever doing exactly what he loves to do. It all started with one big turning point in his life.
In this episode, Marcus shares the actions he took to get where he is now, but he also shares exactly what you need to do to crush it online and offline.
In This Podcast, You’ll Learn:
- The real way to sell.
- What 4 things you need to do to crush it online and offline.
- How to get people to come to you.
- The power of marketing.
- Why sometimes you have to let go of a previous vision.
- How to find your way.
- How much money can be made speaking.
- Some ideas for actions to take to get new opportunities.
- The power of preparation.
- The results of taking small risks and getting outside of your comfort zone.
- And much, much more!
#1 Money Saving Tip
074: Icon Lessons: Rich Dad, Poor Dad (Robert Kiyosaki)
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I will be doing a series of icon lessons (see others here), highlighting some of the great business and financial leaders of our time. First up on that list is Robert Kiyosaki, and specifically his book Rich Dad, Poor Dad.
Rich Dad, Poor Dad is one of the staple personal finance books, and is a must read for anybody with a middle class mindset. The book was the first to really open my eyes to this world of money that I never knew existed.
Below are 6 key lessons that Robert talks about in the book, and I highlight these lessons in this solo edition of the YoPro Wealth podcast.
1. The Rich Don’t Work for Money
The poor and middle class work for money, while the rich have money work for them.
Poor | Middle Class | Rich |
Buy things. | Buys liabilities (they think are assets). | Buy assets. |