- I am pissed, I was watching TV and this financial advisor
on TV was telling people how money works.
How do you need to save money.
How do you become financially independent.
It was bullshit.
There's so much better advice out there
when it comes to money, when it comes to financial advice,
it is amazing.
Let me tell you this, when it comes to money,
the most important thing you need to consider is
consider the source.
How many of these advisors that you see on TV,
on social media, how many of them are actually rich?
Most of them, they are struggling financially.
Most of them actually represent
and work for the mutual fund companies.
They tell you to put money aside, save for the long term,
and put that money in mutual funds,
and don't touch it for 30, 40 years
and after that then somehow,
if the fucking market doesn't crash,
you'll be okay.
It is fucking stupid, let me tell you this.
The advisor was saying on TV, here's what you need to do.
I want you to save money.
There's nothing wrong with saving money.
But here's what I want you to do.
I want you to, you know that morning coffee,
You need to cut that back.
Right, that going out dinner with friends,
you need to, yeah, eliminate that in your life.
And what I want you to do, I want you to set up a budget.
And I want you to count every single expense
that you have.
I want you to look at your, every single line,
and you look at it all the time,
review it every month, right,
and then cut all the stuff that's not necessary,
and then you're gonna have a few dollars,
a little bit of money, that now you can save that up.
Let me tell you this, here's how it's gonna work.
Once I explain this, you'll know why conventional wisdom
is almost always wrong.
Imagine, this is how much you're making.
Maybe you're making $2000, $3000, $4000,
$5000, $8000 a month.
Let's say you have a job, you have a career,
even you have a business, a small business,
this is how much you're making at the end of the day.
So what the stupid financial advisor say,
I want you to watch your money.
I want you to watch out for your money, okay.
I'm looking at my money.
How does this help you make more?
How does saving that hundred dollars,
how would this secure your financial future?
Let's say you do cut back that morning coffee,
let's say you do stop going out with your friends,
let's say you don't go to watch that movies,
let's say you don't go even take a vacation.
Okay, good, so you save a few hundred dollars per month.
In a year's time, you save a few thousand dollars.
Could you still buy the house that you want?
Could you put, even use that as a down payment?
Could you buy the car that you want?
Could you provide for your family?
Would that help go towards your kid's education fund?
Would that be enough, you tell me, comment below.
A penny saved is still a fucking penny.
It doesn't solve your problem.
How would that, saving a few hundred dollars,
you put it in mutual fund style market,
at the end of the day, it's still not a lot of money.
It is still not enough to do anything significant,
to buy anything significant,
to invest in anything significant in your life.
What you need is this.
More.
How do you make more?
How do you create more value in your marketplace?
When you have this, suddenly you don't need budget.
You don't need to think about all this shit.
You don't need to think about
oh I need to count my fucking pennies, man.
I need to do this.
That doesn't solve your problem.
This does not solve your problem.
So what they're telling you, this financial advisor is
I want you to stay poor for your whole life,
put away a few dollars, every single month
for 10, 20, 30 years, and then when you retire,
you will be okay, not even comfortable.
Because with inflation, not even rich.
Hopefully if the market doesn't crash,
the time that you retire,
you will have a little bit of money to live off of.
You've seen that before, maybe someone that you know.
Just before retirement, you remember what happened.
The market crashed.
Their entire life savings, vaporized like that.
In days, and not even their fault.
It's not their fault, they just followed that advice.
And they thought, and they're not even,
most people they're not even thinking that much.
They're just thinking,
I just wanna decent comfortable retirement,
so I can enjoy my life a little bit,
because I worked my entire life in this job,
in this career.
And I cannot even do that.
So you don't have a saving problem,
you have an income problem.
So what you need to do is,
now I know what you may be saying,
you may be saying to me, that Dan,
but I just have a job,
all I make is two, three, four thousand dollars,
how do I make more money?
I don't care if you have a business,
I don't care if you have a job,
I don't care if you're working for someone else,
I'm telling you right now, regardless of what you do,
you need to develop your high income skill.
You need a side hustle.
You need something on the side that you could do
to generate more income.
So now, when you're generating this much,
sure I spend this much, doesn't matter.
I still could save and put away
all the extra money to invest,
but I need to make more first.
So every single year, you need to strive
to make more money than your previous year.
Every single year, you should strive to increase the income.
Having the high incomes skill.
Read my book F.U. Money.
I talk about it, that is not the answer,
that is bad fucking advice.
That's the advice that mutual fund companies
want you to believe,
that's what they want you to buy into.
Why, because they wanna keep your money
for as long as possible,
for as long as possible.
And then they would invest.
And they make their management fee.
They will make a ton of money, while you stay poor.
So, if you want to be successful, financially,
if you don't want to be poor,
forget this, develop the high income skill.
Develop the side hustle, on the side.
Your job is no longer enough.
Your business is no longer enough.
You need something more, if you want to secure
your family's financial future.