It brings me so much joy that you're actually watching this video because
paying yourself first, is the most important financial decision. You will
ever make in your life. In this video, I'm going to share why, what percent you
should be sitting aside and then what you do with it?
The pay yourself revolution has arrived. Somehow you figured out enough about it
to Google it or your pit stopping here on the channel. And we're going to talk
about what percentage of money you should pay yourself first, p-y-f. And first,
what does this even like? Where does this even come from? Like pay yourself first,
what's this about? You know this conversation is awesome and for some
reason it's one that almost nobody follows. Nope. Like we should we should
want to pay ourselves. First we should we should feel that we are of enough worth,
of enough value. Do we lesser...community do we jobs... we don't even like 87%... Guys
pay yourself! Yeah, so right now, people are in the habit of taking money and
we're doing well with it. I think every bills, I got to pay you, I got to pay you
and then guess what? You get to the end of the month, you get to the end of the
paycheck and what's left for you? This much. Nothing. So what do you... you're a
slave. You're modern-day slave trade. This is what's going down. If you don't pay
yourself then guess what? Your money can't work for you and if your money
can't work for you, then all you're going to do is trade dollars for hours, for the
rest of your life, until you die! But what a rich person does
before they ever get rich, is they start doing the p-y-f. Pay yourself first and
that means, that when you start paying yourself, we'll talk about how much, you
actually tuck yourself in at night. You tuck your kids in. You go put yourself in
for beddy-bye. But you do one last thing before you sleep, you tell your money to
get to work. You say, "take that shovel, sling it over your shoulder, march! That
money is working day and night for you or you're working for it. Right now it's
time to get out of the modern-day slave trade. It's called having a j-o-b it's just
over broke. And bottom line, spending your time and your life doing something that
you may not even like and you're not even getting anything to show, except for
a basic behind the 8-ball lifestyle. As paying yourself first is, how you get
ahead. So if you've been going for 5 years, 10 years, 15-20 years and you're
still not getting ahead, I will tell you, if you will follow this one principle,
you will start today to get ahead. To start moving forward in life and
actually set yourself up for real financial freedom. This is what the
billionaire's teaches, this is what the millionaires teach, this is what everyone
who has gotten ahead in their life is, doing in a very powerful way. So here's
what you got understand. Money is a game. Making money is a game. And because money
it's a game, there are rules. Can you imagine trying to play the
game of chess, but not understanding the difference between a pawn and rook? It's
like you're cheating dude, why are you moving up three and over to... Like what
are you doing? That makes no sense right? That's crazy. But the reality is that
making money is easy when you understand the rules. And if your check to check are
thousands of dollars in debt, what we're going to do is we're going to tell you that
this one principle , this is what one of my mentors Tony Robbins, calls the most
important financial decision of your life,
is knowing what percent, you're going to pay yourself? And we're going to give you three
recommendations. So real quick, before we get into recommendations, understand that
if you've never paid yourself before, it can seem like it's going to hurt, right? I
mean if your paycheck to paycheck and at the end of the month, you don't
only not have enough but you're in the hole, then this idea of paying yourself first...
Ah there's no money to pay my self... It's almost impossible. And you'll
probably even tell yourself, "this is impossible."
No. This is part of where the mindset comes in, because as you begin to pay
yourself first, it actually does something to your mind. You begin to feel
this interesting sense of freedom already, because now although you have
other bills to pay, you've already started create a buffer.
You started create a cushion. You started create monies that you can use
to invest in wise or purposes, than what you've already been using it for in the
past. Well and you got to learn how to become the producer instead of the
consumer. Listen the consumer they're buying the gadgets, they're checking out
on Netflix, they're doing all the things to basically distract themselves from
living life. Probably because you get the job that you don't like or you're not willing to
sacrifice or pay the price because you don't it's too hard or you just don't
like it. So we got to find a way to distract ourselves. But it producer, all
they get excited they say, "I'm going to pay myself first, so I can put my money to
work because it'll start in really small amounts but it's going to snowball." You know
what a snowball does when it gets rolling down the mountain. It gets
bigger and bigger and bigger until one day, its crazy. Billionaires and
millionaires you know how they're all created. This, they'll all say the exact
same way. It wasn't luck. If they still got the money, wasn't luck. They got it
because they hearken to the principle. This comes from a book richest man in
Babylon. Great book by the way, it's a classic, it's kind of written in biblical
times. Language it's very very short and one of the principles that it teaches
about money is that, you've got to pay yourself first. Now the book will say you
should pay yourself 10%. And I know some of you're like, "I can't do
that." And I know some of you are like, "cakewalk." I want to put you into what a
three different buckets right now because I love you. The first bar bucket is called
check to check or behind the 8-ball. If that's your situation, I want you to save
3-5 % of your income. Now I get it, you're thinking
ain't going to happen. Stretch. Listen to me, if you pay yourself first,
I swear, the rest will work out one way or another. If you're doing okay
financially because Parkins law says that we make plus or minus 10% of what
we make. That's why it doesn't matter whether you make 30 grand a year or
$300,000, you're a three million a year, unless you are actually living this
principle. There's just a really good chance - you're spending everything
you're making. Yeah. So if you're kind of doing average, I want you to save
10% just like richest man in Babylon says. But I want you to work up
to a magic number called, 20%. Why 20%? Because that snowball
gets going where you can take decades and you can turn it into yours. The whole
reason why someone porn behind the 8-ball can get where they want to go,
with a little bit of time, is because of a magical financial device that exists
in our day and age called compound interest. And if you understand this is
the most powerful, Einstein called this the most powerful financial innovation
that's ever existed. Because compound interest, I want to go to David Bach for
a moment, right? He wrote this book called Start Late Finish Rich. And in his book,
he created something called the latte factor. And the latte factor says,
"okay, latte is five bucks, you get in the habit of having a latte a day. What would
happen if you could cancel that pattern, save save five bucks a day? Well, five
dollars a day, that's going to end up being how much a month? $150
that's not a whole lot of money, but guess how much that has grown
to in ten years. At compounding interest of 10 percent. Right? Stephen and I, real
estate our whole channel here, we show you how to make 10% compound
interest. What happens ten years from now, is that $150 a
month has turned into three hundred grand.
Twenty years from now, it's turned into nearly a million dollars. Fifty years
from now, it's turned into $25,000,000. Like even if you were
just putting a latte down, not for your life but for your grand kids, are you
kidding? What you could hand off to them? Small things become massive. Now the
reality is that, when you have a lot more money, it's going to snow more faster. You
do real-estate deal. You join our real
wealth team and we send you a $4,000 or $10,000 thank you check. Guess what
happens to pay your PSLV. We're talking about in short periods of time, the
massive, massive amounts of wealth. But real investing or real estate in the
things that we talk about, it really comes down to - whether you got the
discipline to pay yourself first. And some of us aren't going to do it until
we have a big enough one Stephen. A big enough why? Now this is something that
people have talked about for years and years and years and actually one of my
good friends always says if your why isn't big enough, if it's not strong
enough and powerful enough to make you cry, it's not big enough. In other words
if it doesn't hit deep enough, then it's not going to keep you in that space of
discomfort long enough, to be able to see the success. And a lot of people will say,
"why does my why need to be emotional?" I'll tell you why, your "why" has to be
bigger than any opposition you're going to face. How big does your 'why' need to be?Big
enough, to beat out any opposition. Because by the way, if you don't have a big enough "why"
and bigger opposition comes, guess what it'll do to your why? Kersplat. And then
guess what happens? You'll break, you'll fall down, you'll classify it as failure.
You'll create a limiting belief. And all of a sudden the things that you wanted
to do and create become in your life, they're all gone because you said, "well
I'm a pretty strong human being, until I face enough adversary opposition that I
can't overcome it." Having a big enough drive, like what is it that
really drives you? And here's a clue question for you to ask yourself, whose
people's pain do you feel the most? For me, we talked about the sex slave trade.
And the fact that little girls are stolen from their homes and are chained
to beds, put on drugs and they're asked to basically witness
horrific evil. That for me, that's a pain that I feel so keenly that I've got
massive financial goals to make money. In the coming years, I'm working towards an
endowment fund of a $100,000,000 so every year there's $10,000,000
that can go to that and other causes that absolutely move me,
right? Now the beautiful thing is, I have the ability to do something to help
today like through an organization called Underground Railroad and it might
be smaller today than what it's going to be in the future, but I'm taking action
on it and it moves me. What gets visceral for you?
Whose pain do you feel? Because if you have the ability to solve those problems
in this world, you might have just found a why. Big enough, to pay yourself the
amount of money that you need to solve the solutions for the tiny day-to-day
stuff. Figure out how to save some money here and ultimately by paying yourself
first, in time will allow you to do anything that you want. Can I ask you a
question, you got to respond out loud. What percentage at this particular point
your life, are you going to be setting aside? Well done good job. Let me ask you
in the future when things are doing financially better,
what percentage then are you going to be setting aside? Oh my gosh, you're amazing!
Way to go! Friends, that is the beginning of the end. That's the beginning of
getting really where you want to go. If you want to learn a lot more about that,
come over to my website. Look at some of my different events, ways that we can
play. Some of the ways that we can start rocking out in real estate and expose you
to a world of investments that ultimately will help you fulfill your
life's purpose, your dreams and bring you the fulfillment, they're all searching for.