Why You're NOT Rich...3 STUPID Money Mistakes Men Make with Jeff Rose
[0:00:00] Antonio: Three stupid mistakes that men make
when it comes to money.
Gentlemen, are you ready?
Let’s get into it.
[Music] Now, I could talk about this, I’ve got an MBA, I’ve read tons of books on money.
I do pretty well with my money, but I decided to bring in the big guns, Jeff Rose.
Now, I’ve known Jeff for years.
He actually has a background he was over in the army and I love his approach to money.
He’s a certified financial planner, but at the end of the day, this guy manages a
lot of other people’s money.
And so, in today’s video, guys, he’s going to give you three stupid mistakes people are
making with their money.
Jeff: So, the number one mistake that I see that men make is they don’t invest.
It’s reported that between 60%-70% of men don’t invest.
So, I know what you’re thinking, I’m a financial planner, so I’m going to say you
need to invest in the stock market.
But guess what?
Yes, that is an option, but if you are in the US or overseas and you don’t want to
invest in the stock market because you’re too scared, that’s okay, there are other
ways to invest in yourself.
Here are five ways that you can invest that don’t involve the stock market.
Number one is personal coaching.
There are many forms of coaching and there are many different types of coaches.
It just really depends on what are you trying to achieve.
But, I was at a point in my business where I knew I needed to do something.
Another investment could be attending a conference.
Whenever I started my online business, I attended almost every single conference that I could
because I want to make those strategic connections.
And funny enough, that’s how I met Antonio when we both attended Blog World in Las Vegas
over five years ago.
One of the conferences that I attend every single year is FinCon which is a financial
blogger conference.
There’s another amazing conference called StyleCon.
Have you heard it?
Have you bought your ticket yet?
What are you waiting for?
Or the third investment that you can make is not going to cost you too much money, but
it’s going to cost you something unless you’re just that cheap, but taking a mentor
to lunch.
Is there somebody locally that you want to get to know, get to connect with?
Most successful entrepreneurs they want to help.
Offer to take them to lunch and try to find out what are some of their interests.
Any way that you could provide value prior to that lunch meeting is going to only make
it that much better for you and to build that relationship with that mentor that you want
to connect on a deeper level with.
Number four is one that I just I don’t believe that men don’t do more of this, but an easy
and cheap investment that you can make is reading books.
How do I know that reading books is going to make that much of a difference in your
life?
Well, check this out.
Bill Gates reads on average one book per week to over fifty books per year.
Mark Cuban dedicates three hours per day on reading.
Mark Zuckerberg reads one to two books every single month.
Do you see the common thread right here?
These highly successful entrepreneurs are committed to reading on a consistent basis.
The fifth thing that you can invest into is online courses.
Now, let me tell you, there are a lot of online courses out there that are just pure nonsense,
but with the right creator that has the right message to share especially on what you’re
trying to accomplish, then that online course might be the best investment that you made.
Or the second thing that men do that is stupid with their money is they use it to impress
others especially women.
Do you know it’s reported that men spend on average $50 to $100 a week on alcohol?
Now, I’m all about having a good time, but to spend that much on alcohol, really men?
Really?
Now, I know you’ve been there where you’re out with a group of friends and there are
some nice ladies that you’re trying to impress, so when everybody’s ordering drinks, you’re
like, next round’s on me.
Please don’t do that.
Another money mistake I see is buying clothes that you can’t afford.
Now, I’m all about looking good and I think we all know somebody else that is too [ting
sound], but that doesn’t mean that we had to buy clothes that is out of our budget.
Take advantage of discount retailers or anytime Antonio has an awesome coupon, take advantage
of that.
But, here’s a funny thing, most of the time men are spending their money on these things
because they want to impress women.
A study reported by Men’s Health showed that women find the hottest men who are smart
spenders, 70% of women find men hot who spend smart.
The third mistake that men make with their money, they let money define who they are.
We all fall into that trap of looking at what somebody else drives, where they live, the
clothes that they wear, the shoes that they have on, and we look at these things and we
compare it to what we have or more importantly what we don’t have.
And because we don’t have those things, we feel inferior we immediately conclude that
we’re not good enough that we haven’t achieved the amount of success that we’re
capable of.
Listen to me right now, money does not define who you are.
One of my favorite quotes from Steve Jobs is my favorite things in life don’t cost
any money.
It’s not about things, it’s not about possessions, it’s about relationships, it’s
about the things that you have achieved, the things that you do have.
[0:04:59] You can’t compare yourself about the things that you know about yourself to
the things that you don’t know about that other person.
So, don’t compare yourself to those things, they’re just things.
If you want to feel rich, add up all the things that you have in your life that money can’t
buy.
And while these are things that money can’t buy, they do define who you are.
Men, I want to challenge you today.
Are you where you want to be with your money?
If the answer is no, what are you going to do about it?
What are you going to change?
The challenge is identify one change one thing that you want to do in your financial life
to improve it.
What is that one change that you know that you need to make today?
Whatever that one thing is, I want you to share it in the comments below because guess
what?
Myself and the Real Men Real Style community is going to hold you accountable.
We’re going to help you achieve whatever is that one thing that you need to achieve
the amount of financial success that you want.
Let’s see if you’re man enough to find out what that one change that you need to
make and even more so share in the comments below.
Antonio: All right, guys, I’m linking to Jeff Rose down in the description of this
video three of my favorite videos of his.
And most importantly, guys, hopefully he can help you start to better save, invest, and
put your money in a place where it’s going to start to work for you.
And hopefully, be able to introduce you to other paths so that you can start to make
more money.
He’s got a great book, Soldier of Finance.
I love his approach, military background, he approaches it very systematically.
But, let’s say, okay, Antonio, I’m not into Jeff, but can you give me some other
advice?
Well, guys, go check out The Richest Man in Babylon, an amazing read kind of gets your
mind into the wealth creation mindset.
There’s this other one, John Bogle the Whole Common Sense Investing.
This is a great read, very simple, but important.
Just go grab the Dummies book if you want something really simple.
And, if you’re a business owner, the Personal Finance Guide for Entrepreneurs.
I love this book.
At the end of the day, guys, I want you to take control of your finances.
Why?
Because then you can go buy more clothing from my sponsors.
No, that’s not – well, maybe.
But, whatever your reasoning is, hopefully you can actually better start to build wealth
and become that man you know yourself to be.
And, that’s one of the big things I push with my channel.
So, guys, go check out Jeff, I’m linking to him down in the description.
Take care.
I will see you in the next video.
[0:07:16] End of Audio