Welcome back. In this episode, I'm going to talk about how to move from striving to
thriving. Now, this is important because many people go through life or even
through generations in a bell curve like this. And a lot of times, many people
never get out of this first little zone. Always striving for happiness or
financial independence. And they don't know the secrets to begin to arrive. And
let's say financial independence. So, we have strivers, we have arrivers, but
we have the thrivers that are here. But all too often when people hit this
thriving mode, they start to hunker down and they stop doing what made them
successful and they get into a survival mentality and then their wealth and
their health dives. So, strivers, arrivers thrivers, survivors and divers. I think I
already know where you want to be on this bell curve. So, let me empower you on
how you can move from Striver to thriver.
I'm Doug Andrew. I've been blessed in my life to be able to empower people like
you to move from the StrIver mindset or mode into arriver. And then the ultimate
that we'll talk about is to be able to be a thriver. But first of all, we need to
stop doing the things that strivers do where they're always maybe borrowing to
consume. As I often say, they have too much month left at the end of their
money. And they always think that happiness or success is is never going
to be within their grasp because they don't understand what we call the 3
marbles or miracles of wealth accumulation. Which we teach in our other
episodes. And so, the difference between the strivers and arrivers is they
begin to be more disciplined. They live on less than what they earn. They begin
to set aside money and they understand the 3 marvels of compound interest
when they set money aside. The second Marvel is tax-favored accumulation of
that compound interest. And the third is safe positive leverage. Again, this is the
ability to own and control assets with very little or none of your money tied
up or risk in those assets. We teach about those 3 marvels in several
different episodes. And so, when people begin to understand those 3 marvels,
they start to soar financially. So, it's sort of like an airplane .I used to have
a 2 private planes. I was a private pilot. And they drill into you when
you're getting your pilot's license that there are three forces that you have to
overcome in order to get off the tarmac. The first force is a gravity.
The second is to be able to have some resistance
or friction. A lot of people don't understand that. Because to get airborne,
you've got to have 3 opposing forces to like gravity. Number 1 would be lift.
Okay? So, that might be compound interest. You have to have lift. The second is
thrust. Now, I often have said in my various books, you can have thrust with a
propeller engine. Those are typical investments that most Americans put
their money into. But I prefer a jet engine. So, I like to have thrust that is
tax-free. So, I put my money in investments that don't just have
compound interest if they have tax free compound interest. The third is safe
positive leverage. Now, a lot of people go, "Golly, I thought that was bad to leverage.
To borrow O-P-M ---other people's money. Actually this is the secret to wealth
accumulation. So, in an airplane, you actually have to have friction or
resistance or you will never get airborne. That was a hard thing to grasp.
In fact, they drill it into you that if you don't have friction, you will stall
out and you will fall out of the sky. So, actually having friction or resistance.
What I'm talking about is maybe paying interest to make more interest. There's
been many times in my life I have paid interest to own a home. And even though I
paid interest of 4 or 5 or 6 percent, it was tax deductible. But it helped me own a home
that was appreciating. Or the money that I was setting aside to pay off the home
is compounding at a rate of return double the cost of the mortgage. So, I had
friction or resistance. But I owned a home that went up in value considerably.
Does that make sense? When people begin to harness those
marvels, they begin to soar financially on this bell curve. So, how do we move
from being an arriver to a thriver? Here's the secret:
Thrivers learn to repeat the process. See, it's not a one-off. "Oh, okay.
I did that. I bought a home and I did it this way. And I got out of debt. And now
I'm a homeowner." Well, that's sort of a one-off. If you learn some valuable
lessons in being able to soar financially, maybe even borrowing some
money to own a home. Understanding how to pay that off the quickest smartest way.
Not sending extra principal payments to the mortgage company as another episode
explains. You begin to arrive at financial independence.
Well, thrivers go, "If that works on my house, would it work on a rental home? Or
several rental homes? Or an apartment complex? Or a strip mall?" Do you know that
many self-made millionaires have moved from arriver to thriver by repeating the
process on other pieces of properties. I've helped several people move from 1
rental property to over 20 rental properties in less than 5 years. And
they have assets that are worth 5 million or 10 million. Maybe they still
own money on them but they're earning 100% more than the cost of the
mortgage on those and those properties are appreciating. So, the multi mega
millionaires learn to repeat the process and they begin to thrive. But all too
often, I've seen many people when they finally hit this or even in generations,
they hunker down and they forget to continue to repeat the process. And so,
I'm going to share with you what happens because they go into a survival mode and
their wealth dives. Their health dives. And I don't want that for any of you
viewing this video. So, let me share with you how to always be a thriver. So, this
is where I want to hang out, don't you? So, to make sure that you can always thrive,
you want to repeat the process and empower your children, your grandchildren,
those you care about to continue to thrive instead of just sitting back and
coasting. See, the secret to longevity is making yourself necessary and continuing
to be in motion, adding value. And people will live longer. Otherwise, if we hunker
down... And all too often as a financial strategist and retirement planning
specialist, I noticed a lot of people at retirement..Ooh! That word retire. I've
never liked that word. You know what it means? "Put out of use". See, it came in the
Industrial Revolution where factories, if equipment got worn out, they retired worn
out equipment. And then they got the idea. Why don't we retire worn-out people? When
people are put out of use, do you know that life expectancies were only 7
years when people retired. And even military or government workers when they
had no purpose in life, their life expectancy only lasted 5 years. This
is what happens. All of a sudden they have nothing to live for. They're just
trying to survive and not outlive their money. And when you lose that purpose,
your health, your passion, your zest, your money dives. And we run out of money. And
it becomes almost like a self-fulfilling prophecy. So, the key takeaways to always
thrive is first of all learn the 3 marvels of wealth accumulation. If we're
talking about financial independence, compound interest, tax-favor
accumulation of that compound interest. And safe positive leverage. Which will
actually give you the lift, the thrust and you'll have the drag to overcome.
Because I found that I thrive, when I actually can be my own banker. Use O-P-M,
just like banks do. Other people's money, I borrow to own. And by owning, I've
repeated the process again and again on multiple properties
and assets and thrive. But at the end of the day, I don't want to stop doing that.
And have my wealth and my health simply dissipate and disappear. This is so
powerful for intergenerational wealth. And not to get an entitlement mindset
which is one of my favorite topics. So, my advice is to always strive to be a
thriver and stay there. So, is that a striver, arriver, thriver,
survivor, diver; I want you to thrive forever. In order to learn how to do that,
you may want to click on this video on how to achieve financial independence. Or
there's some links below where you can read some of the books and other
resources that I have written and prepared to empower you to always be a
thriver.