When it comes to the world we live in today money is as important as it's ever
been we need it for food we need it for shelter and while I hate to say it the
amount of money you have denotes your place in society it's for this reason
that so many people place the accumulation of money as the focal point
of their life but should they let me fill you in on how the one percent
approach wealth accumulation so you can have your eyes open to what it really
means to be wealthy and if you're new to the channel then hit the Subscribe
button below for more life-changing content we all know that money can be
made in a plethora of ways for instance some people gain their money through an
inheritance some through long-term investing and some great businesses that
literally change the course of history moreover we all have different views of
money based on how we were raised in the Life Experiences we've had to date for
example I grew up being taught the importance of frugality and as such I'm
an extremely conscious spender contrarily one would argue that trust
fund baby may be more loose with their money because they've had that money
handed to them so they may not have as much regard for its value this is all to
say that money means different things to different people and how we accumulate
that money will vary as well you see the average person goes with accumulating
wealth in one of two ways the first person and the one who likely will never
have any real Financial wealth aims to stash away whatever scraps are left at
the end of the month this is a person who you always hear complaining that
they have no money yet they're always having the newest iPhone and going out
to eat dinner three times a week as I said this person likely will never
achieve true Financial wealth because they put acquiring short-term Financial
Pleasures over real wealth accumulation then there are those who understand that
becoming wealthy takes two things hard work and patience most people don't make
the riches overnight nor do they make them on a whim which means that getting
to the point where they have an overflowing bank account will take time
this generation of wealth comes from consistent investing or building a
business now while the second type of person has infinitely higher chances of
becoming wealthy over time there is a trap to this second type of person falls
into which separates them from the truly wealthy Among Us the second type of
person can succumb to what I call is money tunnel vision if you don't know
what money tunnel vision is it's when you get so focused on one item more
tasks that you literally do not see or notice anything else around you while
there's no doubt in the fact that in order to see significant financial
strides in your life you must put in a ton of work many people think of getting
wealthy as an All or Nothing Affair and this is where they lead themselves
astray sadly I used to see this all the time when I was working in management
consulting in an environment where getting head men working 80 hour weeks
traveling Non-Stop and being constantly under management pressure it was
certainly a costly road to financial wealth and this is where most people
striving for financial success go wrong they start to form money tunnel vision
and disregard any of the externalities that come with putting money as the sole
focused of their lives in the case of my old colleagues this commitment to their
careers often led to expanding waistlines poor sleep and in a few
situations many of their relationships ended in divorce fortunately I was able
to see past the money that this career could offer and soon realize that the
cost simply outweighed the benefits sure making 200 000 a year at 35 would have
been great but not at the cost of my relationships my health and my overall
mental sanity again given the importance of money in today's world I can't blame
these people for wanting to make as much money as Paul possible and for putting
all their time and attention towards achieving Financial wealth notice how we
said Financial wealth and not just wealth in general this was deliberate
and the fact of the matter is that most people's definition of wealth is
financially skewed when in fact wealth is an umbrella with many elements
beneath it now if this is news to you then don't worry I used to be dead set
on the fact that being wealthy only meant building up the biggest bank
account possible fortunately over time I've been educated in the area of wealth
and what it truly means to be wealth one of my favorite wealth archetypes comes
from the author of The Millionaire Fastlane MJ DeMarco who defines wealth
as a 3fs fitness finance and freedom you see most people are so focused on the
finance aspect of the wealth equation that the Overlook the other two aspects
which if you ask me are just as valuable to her overall happiness and well-being
I mean think about it what good is having a ton of money if you're so out
of shape that you can barely move or have zero energy to go out and enjoy the
money you've made alternatively if you're required to work 100 hours a week
to maintain your wealth and have no Freedom then really what's the point of
having money in the first place if you ask me you only truly achieved wealth
once you have all three of these components in place and in a few minutes
I will break down my own plan for achieving all three pillars the 3F
wealth equation but first let's go over some of the key tenets that form a
wealthy lifestyle as I just mentioned those who are truly living a wealthy
lifestyle accommodate all aspects of wealth into their lives they Place
importance on time with friends and family time to attend to their health
and of course time to meet their financial objectives again this is
vastly different from the average person who places 100 of their time and
attention to making money which they see as the only path to well another set of
activities that separate the wealthy from the rest is their commitment to
thinking and learning I hate to say it but the last time most people read a
book of substance was probably in college and this is why so many people
never get ahead in life books are like master keys that can unlock new
potential in any aspect of your life for instance the example of the three F's of
Fitness finance and freedom came from a book and that new way of seeing wealth
has dramatically improved my Approach not only making money but also valuing
the non-monetary aspects of my life as well moreover those who who are wealthy
take time to pause and reflect they consider what results or past actions
have yielded and what approaches they need to take to see the progress they
want again this is an activity very few people actually undertake regularly one
great example of The Perils of neglecting regular deliberate thought
are those people who fall into the Trap of thinking their nine-to-five job will
make them Rich each and every day they clock in and out of their jobs with the
hopes that they will soon get that big razor promotion they've been hoping for
that will change their financial life forever however whether you're due to
lack of performance office politics or any other reason that big pay jump never
comes and said person is stuck in financial mediocrity forever if they
would have taken two seconds to realize that their job will never make them Rich
they could have changed the course of their lives and set themselves on a more
appropriate path it's this Locker review and adaptation that is killing the
financial Progressive people and by thinking and learning that wealthy can
avoid this mistake and get to their goals faster now the next element in the
wealthy lifestyle involves material goods and this point may be
controversial but hear me out what I've come to notice is that while many
financially well-off people do own nice thing things like fancy cars and big
homes they tend to not attach their self work to these items unlike many of their
less financially well-off counterparts for some with very little excess
disposable income getting that base level sports car or a fancy watch
becomes the center around which self-worth is placed on the contrary
those who tend to be able to afford material items in excess tend to place
their self-worth on the value they provide as a person because it's this
incredible value that they offer that has allowed them to build significant
wealth in the first place the final aspect of a lifestyle of wealth involves
those you spend your time with they say that the birds of a feather flock
together and this is why those driving to become wealthy are those who have
already arrived tend to only spend time with others who are living a life of
purpose I'm going to admit that as they started to become even more focused on
the goals in my life I've seen it divide in my own relationships some people
support your quest to Greater achievement While others pass doubt and
given how hard it is to achieve anything significant in life who you give your
time and energy to will play a big part and if you get to your desired end goals
or not therefore as you're coming to see building a wealthy lifestyle doesn't
mean spending every waking moment of your life trying to get rich wealth is
much more broadly defined than just money alone however the question is how
does one actually go about achieving the three pillars of wealth Fitness finance
and freedom let me share with you my own plan to attain these three apps which
will hopefully Inspire your own wealth building journey to start let's talk
about Fitness Fitness is by far the lowest hanging fruit in the three half
equation and let me tell you why first working on your Fitness can be as costly
or cost less as you want it to be for some getting fit May mean getting
personal training on The Daily and for others it can mean lacing up your shoes
and going for a run if you ask me there is no Financial impediment stopping you
from exercising now the excuse they hear often from people who don't work out is
that they don't have time it's funny how they have time to watch Netflix or spend
hours on social media but can't find 30 minutes to left a few weights or go for
a run personally I think that if something means enough to you then you
will find the time for it and this is why I aim to work out for an hour and a
half a day because taking care of my health is of top priority therefore well
for some the thought of being wealthy seems to be a goal that's far out into
the Future No matter how much you have in your bank right now you can start to
enjoy the fitness component of the 3F wealth equation next let's talk about
finances and freedom together because for most people they can have one but
not the other most people approach the accumulation of wealth through sheer
manual effort combined with the option shared Financial advice of investing in
the stock market over the course of many decades this is definitely a path one
could take to accrue a sizable amount of money but does it offer you both
finances and freedom I'd argue it doesn't for most people being able to
accrue enough money every month to save and invest will take endless amounts of
work given the current income model they work within as I mentioned earlier most
people operate in the nine to five mold and while this is the right choice for
many people it's not conducive to the incomes that most people need to unlock
both the finance and freedom component of the three F wealth equation you see
if your income doesn't allow you to amass Financial hours quickly then
you'll eventually have lots of money but no freedom to enjoy it as you will be
well into the back half of your life by the time this money is made
alternatively if you do make a ton of money now you'll have the Financial
component taken care of but will in many circumstances being missing out on
freedom this is what I have for the last few years aimed to pursue a business
model that allows me to balance both finances and freedom how do I go about
this my Approach has been to build online businesses with which I can
control my involvement for instance with my YouTube channel and other online
businesses I can decide to do all the work myself or Outsource most of it if
not all the work to other people on my team using this model over the last few
years has led me to now make over a hundred thousand dollars a year on
YouTube which I teach my students how to emulate my core six figure tuber which
I've linked down below now I'll admit that I am still a ways away from being
rich however I believe that this model in the long term will allow me to
achieve the finance and freedom aspects of wealth while in the meantime I still
enjoy the fitness aspect through my regular exercise regime therefore
understand the wealth runs deeper than money and that anyone can become wealthy
if they put the right system in place now it's time to determine what being
wealthy means to you and when you have this properly defined you too can set up
a winning system just like hey it looks that YouTube thinks this
next video is the one that will change your financial life forever give it a
watch and let's see if they're right