- What's the first way that you can get wealthy
but it's the hardest way?
Income!
(writing)
Income is the hardest way to get wealthy.
We'll do the fourth way cause it's quite funny.
Anyone know the fourth way?
I'll tell you.
You can marry it.
(crowd laughing)
Now you laugh but Meghan Markle has done this
really successfully right?
So I know there's people out there doing it, right?
The next one sadly is death.
(writing)
It's sad ya know but people make money from death.
It's horrible but it's true.
Then the last one is divorce.
(writing)
Meghan Markle's gonna do that as well I think.
(crowd laughing)
I reckon she's gonna go through all three of these.
So married, death, divorce, number one is income.
The next one is assets.
(writing)
And then the third one is business.
(writing)
So why is income so hard?
You need to be a CEO of a FTSE 100 or 500 company
making some serious income.
Or you need to be Beyoncé or a celebrity or a pop star.
It's really hard to make money from income.
I call this fast pounds.
(writing)
Why do I call it fast pounds?
So if you're on salary it comes in fast
and by the end of the month it's gone.
Does that make sense?
So you take £3,000 a month or £2,000
or £500 a month into your business
into your personal bank account to live on.
By the end of the month it needs topping up again.
And most people don't enough coming in each month.
So income is fast, it comes in fast and it goes out fast.
Everyone got that, right?
The next thing is assets.
These are slow pounds.
(writing)
Slow pounds.
What I want people to do is this rule of 50/50
is they invest 50% of their income
into slow pound building assets.
So your buy a property
and then over a period of time
you get paid twice capital growth
and rental income.
And the slow pounds start producing fast pounds
that you can then re spend each month.
And I really want people, out of
their assets, to go 50/50 again.
50% you can live on and 50% you reinvest.
So you should be funding the fun
out of your life through assets.
So you can buy an expensive car
or go on loads of holidays through rental income
but not through number one income.
Has everyone got this?
(crowd murmurs)
But the real problem is
how do you do that?
So if you earn £20,000 a year.
I'm trynna find my stool there (laughs).
(crowd laughing)
If you earn £20,000 a year after tax, (laughs)
I really felt myself going then!
Sorry about that.
If you invest £10,000 into assets and £10,000 to live on.
People go look, especially if you live in Essex,
it's literally impossible to have a, mortgage,
food, council tax, electric and all that
and live on £10,000 a year.
Most people can't do it.
So you need to be really maximising income
for this to happen, to build an asset portfolio.
And I teach property.
So what's the best way of doing this 50/50 thing?
It's this, guys, it's having a business.
People get rich, if you like.
I hate to say that, 'cause it's not really
my style to say rich.
But it is, from business.
Not from income.
Business into assets, and then assets fund the fun.
So you wanna fund your lifestyle of fun
holidays and stuff like that through this.
Why people end up losing this, is that they have
no education about this and no education about this.
And they just use this money that they inherit, marry
or divorce here and turn it into fast pounds
and it just disappears.
I think it's like 70% of National Lottery winners
lose all their money by year five.
Because they've got education around wealth.
So, we're gonna build a profitable business
that's gonna allow us to build the asset wealth
so that we can go 50/50 here.
So your income comes out of here but 50% go into assets.
And they're the four ways to to wealth, gang.
Everyone got that?
(crowd murmurs)
Anyone ever seen it like that before?
Only the people that have seen me before
and watched my videos.
But that's the way, guys.