Dan Martell - August 22, 2022


How To Think Like A Wealthy Person


Episode Stats


Length

17 minutes

Words per minute

205.7633

Word count

3,694

Sentence count

241

Harmful content

Misogyny

1

sentences flagged

Toxicity

10

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

In this episode, I talk about how wealth is a ratio and why you should focus on creating value and not just the amount of money you make. It's not about the amount you make, it's about how much you spend.

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Toxicity classifications generated with s-nlp/roberta_toxicity_classifier .
00:00:00.120 Judging other people.
00:00:01.320 They're like, how does that guy have a Lamborghini?
00:00:03.160 He probably screwed people over and took their money.
00:00:05.680 Really?
00:00:06.520 That's the default you're gonna go to?
00:00:08.880 Versus is, I bet that person created a lot of value
00:00:11.880 in the world and he blessed a lot of people's lives.
00:00:27.000 What's up everybody?
00:00:27.760 I'm Dan Martell, serial entrepreneur,
00:00:29.160 investor and creator of SaaS Academy.
00:00:30.920 In this episode, I'm gonna talk about wealth.
00:00:33.760 Wealth is a ratio, okay?
00:00:35.820 Money mindset.
00:00:37.260 Most people wanna talk about investing
00:00:39.660 and wealth and all these things,
00:00:41.100 but I'm just gonna share with you some basics
00:00:43.300 that are fundamental, true first principles.
00:00:45.620 You can't deny it.
00:00:47.300 It's based on things you've heard from your parents,
00:00:49.000 but you didn't actually understand
00:00:50.600 how they applied in a way for you,
00:00:52.480 if you're building a business and you're an entrepreneur,
00:00:54.940 that you can actually take advantage of it, okay?
00:00:56.940 So I don't like to brag,
00:00:58.480 but I've made millions of dollars in my life.
00:01:00.520 I've built and exited three companies.
00:01:02.580 I run two eight-figure companies.
00:01:05.200 I'm the CEO of both companies.
00:01:06.920 I have 100 plus employees.
00:01:08.680 I have a supercar and all that fun stuff, okay?
00:01:11.600 And I don't share any of that to brag.
00:01:13.680 I literally share it to let you know
00:01:15.420 that learning the money mindset side of things
00:01:18.440 and understanding how wealth is created
00:01:20.920 was a journey I needed to take.
00:01:24.180 I went through all the challenges,
00:01:26.300 All the lessons learned from almost going bankrupt 1.00
00:01:28.680 to burning all my money on stupid ideas 1.00
00:01:31.220 to investing in the dumbest ideas. 1.00
00:01:32.640 Literally everything you possibly do, I've done it. 0.99
00:01:35.240 I'm just lucky that I did it
00:01:36.480 when I was in my early 20s, okay?
00:01:39.180 I invested in, you know,
00:01:41.160 I've invested in 50 plus companies at this point, right?
00:01:43.540 And some of them are billion dollar companies
00:01:45.040 like Udemy, Hootsuite, Unbounce.
00:01:47.540 You know, I've co-invested with Jay-Z
00:01:50.320 on this company called Pila.
00:01:51.480 I sit on the board of that company.
00:01:52.660 So I share all that because in everything I've ever done,
00:01:57.280 there's always this learning phase to figure out.
00:01:59.960 I wanna help you guys just fast track that.
00:02:01.840 I don't want you to have to learn the hard way,
00:02:04.160 although I also know you're gonna probably do it.
00:02:06.220 It's just kind of part of life and that's fine.
00:02:08.180 But I wanna share with you kind of my first philosophy
00:02:11.780 that wealth is a ratio, okay?
00:02:13.920 People think it's what you make that makes you wealthy
00:02:16.820 and it's actually not, it's what you spend.
00:02:19.100 My dad used to say this to me all the time.
00:02:20.420 He used to drive me nuts.
00:02:21.220 It's not what you make, it's what you keep.
00:02:22.380 It's not what you make, it's what you keep.
00:02:24.300 And I was like, man, my dad lives a pretty boring life.
00:02:26.780 And I love my dad, he's my best friend.
00:02:28.260 I literally just spend boys weekend with him.
00:02:30.260 So no shade, but what he forgot to explain to me
00:02:35.640 is how wealth is a ratio.
00:02:37.680 So what that means is that
00:02:38.880 if you're making 100 grand a year
00:02:40.640 and it costs you 100,000 to live, then you're not wealthy.
00:02:44.060 If you're making 100 million a year
00:02:45.700 and it costs you 100 million to live, you're not wealthy, okay?
00:02:49.100 It's not only, it's the amount of money you make.
00:02:51.940 That's why I'm not a fan of saving your way to wealth. 0.99
00:02:54.220 I think it's the dumbest thing ever. 0.64
00:02:55.620 I think you should work on creating more value in the world 0.98
00:02:57.840 and capturing that value and increasing your income.
00:03:00.920 That is the way to create wealth
00:03:02.780 because when you can live off of, you know,
00:03:06.880 single digit percentages of your income
00:03:09.920 for, you know, when you're wealthy,
00:03:11.720 that's kind of where you wanna be.
00:03:12.900 You know, the wealthiest people in the world
00:03:14.220 that are in part of a group called Tiger 21,
00:03:16.560 their target's 2%, right?
00:03:17.880 You wanna get 5%, 7%, even 10%.
00:03:20.580 Some of you guys are living off of 99% of your income.
00:03:25.200 Make more money, don't increase the quality of your life.
00:03:28.100 That's the philosophy.
00:03:29.340 And be willing to do that, especially when you're young,
00:03:31.420 when it doesn't matter.
00:03:32.340 And you do that for a decade
00:03:33.300 and the whole thing will snowball, okay?
00:03:35.320 And then you'll be able to get to a point
00:03:37.020 where your investments are making more money
00:03:38.780 than your income, and that is true wealth.
00:03:40.980 But I share that wealth is a ratio
00:03:42.400 because that's what it is.
00:03:43.800 It's literally a ratio of how much income
00:03:46.040 versus how much you spend.
00:03:47.800 And for me, when I started,
00:03:49.680 I was 21 years old.
00:03:51.340 And again, I don't share any of this to brag.
00:03:52.840 I got super lucky.
00:03:54.080 I ended up getting a job as a contractor
00:03:56.900 making $150,000 a year,
00:03:59.500 but I was living off of like 50,000 a year, right?
00:04:02.760 And the reason why is because I didn't need 150.
00:04:06.400 You know, even in my wildest dreams,
00:04:08.440 I was like, I just want to snowboard a mountain bike.
00:04:10.960 So as long as I had a snowboard and a mountain bike
00:04:12.760 and I had a car, but I drove a 1987 Jetta.
00:04:16.100 I drove a car that was 17 years old
00:04:19.840 at the time that I was driving it
00:04:21.760 and I was making six figures.
00:04:23.900 And this is a while ago, okay?
00:04:25.340 So that might be, you know, I feel old now,
00:04:26.740 but that might've been worth a lot more in today's dollars.
00:04:29.020 But I share that because that philosophy
00:04:31.740 has just been part of who I am.
00:04:34.140 Like it allowed me to save the money
00:04:35.760 to start my company Spheric.
00:04:37.140 When I started Spheric, I was 24 years old.
00:04:39.220 I had $75,000 invested.
00:04:41.420 This is after taking a year of travel
00:04:43.500 and buying some real estate and all these things.
00:04:45.460 So like having the ability to defer gratification
00:04:50.460 and live off of less than you make
00:04:52.380 is how you create wealth.
00:04:53.940 But I wanna dive into it because to me,
00:04:57.020 I want you to also strive and want the supercar,
00:05:01.640 the private jets, the lifestyle.
00:05:03.540 I believe in that.
00:05:04.820 I believe in that.
00:05:05.960 I'm gonna share more about it.
00:05:07.480 But I want you to do it in the right sequence of things,
00:05:10.660 right?
00:05:11.020 You don't do it when you can't afford it,
00:05:12.960 but you defer the gratification.
00:05:14.520 you make the right moves to be able to get there.
00:05:16.600 So three big ideas, okay?
00:05:18.760 Number one is the money mindset.
00:05:20.580 Some of you guys have a poverty mindset.
00:05:22.740 Some of you guys have a negative mindset
00:05:24.880 to attracting money into your life.
00:05:27.020 And if you don't fix that foundation,
00:05:29.100 you'll never be able to go.
00:05:31.100 My dad, love him, but my dad has a scarcity mindset.
00:05:35.120 He knows it, we joke with him about it.
00:05:36.980 He's always looking at saving money.
00:05:38.960 He's always looking at where he can get the best deals
00:05:44.100 And me and my brother, Pierre, we look at him and go like,
00:05:47.840 yeah, you could do that.
00:05:49.040 Or we could spend that time to go figure out
00:05:50.980 how we can make more money.
00:05:51.860 And that's our philosophy.
00:05:53.100 We believe in abundance.
00:05:54.100 We believe that there's more out there.
00:05:56.080 So these are just some examples
00:05:58.060 for my personal life that I wanna share
00:05:59.880 so you can understand that these beliefs,
00:06:02.640 and if you want a great book on that,
00:06:04.040 it's called The Millionaire Mindset by T. Harv Eker.
00:06:06.620 It's probably the best book on money mindset.
00:06:09.100 Every chapter literally tackles a money belief
00:06:11.760 that you probably have that doesn't serve you.
00:06:14.100 But I wanna share the big four.
00:06:15.740 These are the big four approaches to money
00:06:18.360 that most people are walking around with.
00:06:21.020 Number one is scarcity.
00:06:22.520 You have a scarcity mindset.
00:06:23.660 You don't have an abundance mindset.
00:06:24.940 I want you to install the belief that there is more money.
00:06:28.640 There's trillions of dollars.
00:06:29.720 Every day, there's a trillion dollars in the economy
00:06:31.620 that exchange hands.
00:06:33.180 Trillion dollars, just won't happen.
00:06:35.260 Right now, hundreds of millions of dollars
00:06:36.580 just exchange hands in the world.
00:06:39.480 Were you part of that exchange?
00:06:41.440 Nope.
00:06:42.440 That's your opportunity.
00:06:43.660 There's no lack of capital.
00:06:44.780 There's no lack of opportunity.
00:06:46.040 Unless you live in a communist country,
00:06:47.640 most of you guys probably don't, you have opportunity.
00:06:50.260 You have opportunity to get it there.
00:06:51.820 So number one is scarcity.
00:06:54.160 You have to have a abundance mentality, okay?
00:06:58.580 You have to overcome that.
00:06:59.680 Number two is the fear.
00:07:01.680 And it's not the fear of failure.
00:07:03.520 It's actually the fear of losing it all.
00:07:05.500 Well, it's kind of the same thing,
00:07:06.840 but most people that I coach,
00:07:09.120 founders that have had success, right?
00:07:10.720 They're worth 10 to millions of dollars.
00:07:12.820 And their challenge now is their money mindset
00:07:15.540 stopping them from investing.
00:07:16.980 Their money mindset's fearful
00:07:18.980 because now they've got something to lose.
00:07:21.360 So it's not about like a fear of failure
00:07:24.140 when you have nothing.
00:07:25.120 Because when you have nothing,
00:07:26.040 it's like when I started,
00:07:27.720 the expectations for me were low.
00:07:29.460 I could have done anything
00:07:30.280 and my parents would have been really excited about it.
00:07:32.740 But now that I've got something,
00:07:33.980 it's almost like they're more stressed out
00:07:35.680 because they're worried,
00:07:37.060 well, this is the quality of life
00:07:38.840 that Dan's created for himself.
00:07:40.200 What if he loses it?
00:07:41.320 And this is what's funny.
00:07:43.300 This is the crazy thing.
00:07:44.240 I'm gonna share with this you personally.
00:07:47.700 That is their stories, not mine.
00:07:51.020 When they question me on this stuff
00:07:52.860 or they say these comments,
00:07:54.240 I realize that's their money mindset
00:07:56.460 coming out and reflecting their psychology, not mine.
00:08:01.240 Okay, and it's so crazy
00:08:02.760 that they have a fear of losing it,
00:08:05.720 a fear of success and losing it all for me.
00:08:09.420 So again, I just share that
00:08:10.980 because these are the big four.
00:08:12.180 Number one is scarcity.
00:08:13.100 Number two is fear of losing all.
00:08:14.840 Number three is judgment.
00:08:16.120 Judging other people.
00:08:17.300 Some of you guys are judging other people
00:08:19.580 and you don't even realize that those judgments,
00:08:21.800 you see a guy driving a Lamborghini,
00:08:23.320 you see a guy do some ad on YouTube,
00:08:26.080 you see a person in a big house.
00:08:28.060 Literally, I, you know, all the time,
00:08:30.520 I live in an incredible neighborhood
00:08:31.780 and people come up and go,
00:08:33.800 what does he do?
00:08:34.340 What does he do?
00:08:34.860 What does he do?
00:08:35.620 And I don't know, I think the question is,
00:08:38.460 some people it's curious,
00:08:39.380 but a lot of people is they're just they don't understand it they're like how does that guy have
00:08:43.300 a lamborghini he probably screwed people over and took their money really that that's the default
00:08:48.500 you're gonna go to that that conversation that language that's where you're gonna go to with it
00:08:54.020 versus is i bet that person created a lot of value in the world and he blessed a lot of
00:08:58.260 people's lives i bet he created a world-class company that employed hundreds of people
00:09:02.340 and through that hard work determination and risk he was able to create an opportunity where he could
00:09:07.220 could have paid that Lamborghini cash 10 times over instead of that person probably has that
00:09:12.720 car leased and they're leveraged to the hilt. And next time there's an economic downturn,
00:09:16.440 they're going to lose it all. Like that story, those two different stories dramatically impact
00:09:21.760 you. Okay. And if you think you don't do it, you probably, I call it scroll troll. You're probably
00:09:25.740 judging people through your social media. If you're just scrolling and trolling with your
00:09:29.980 thoughts, you may not write it down. You may not leave a comment, but you are definitely scroll
00:09:34.380 trolling potentially just an invitation. So that is the money mindset. Number two is you need to
00:09:39.360 have a money plan. Okay. I'm going to share some language. This came from Taylor Welsh from
00:09:43.240 Traffic and Funnels. He's one of my friends and I like the language. I'm not going to be able to
00:09:46.880 teach you wealth investing, uh, in a few minutes, but he calls it the pumps, the buckets and the
00:09:54.840 moats. Okay. The pumps, the buckets and the moats. And I think it's important for, for it doesn't
00:09:59.800 matter what part of the journey you're on. Some of you guys got great pumps. Pumps is like a revenue
00:10:03.860 generating vehicle maybe it's your job maybe it's your company maybe it's multiple companies you
00:10:08.260 have great pumps but what you're missing is the bucket and the bucket is a place to put the excess
00:10:14.660 capital okay because when wealth is a ratio so if you're living off of 10 of your income and you've
00:10:19.460 got 90 left over and you got to pay taxes all that fun stuff where do you put it as a bucket to be
00:10:24.580 able to uh turn it into an asset okay cash on its own is not an asset again i'm not getting into the
00:10:30.180 the whole financial stuff.
00:10:31.040 I just wanna share with you.
00:10:32.320 You can Google this, read up Taylor's videos on this.
00:10:34.660 I really like his thoughts on it.
00:10:36.120 And then finally, the moats.
00:10:37.280 How do you protect that?
00:10:38.360 How do you create multi-generational wealth?
00:10:40.180 How do you create the infrastructure to support it?
00:10:43.820 And why is this important for you to understand?
00:10:46.140 The pumps, the buckets, and the moats
00:10:47.600 is because some of you,
00:10:49.400 if I gave you $10 million tomorrow,
00:10:51.880 within two to three years, you'd have nothing.
00:10:54.640 Because you don't understand how economics work.
00:10:56.940 You don't understand how wealth works.
00:10:58.060 You don't understand how the complexity of money works.
00:10:59.900 And if you just are handed that,
00:11:01.940 that is too much potential energy.
00:11:04.440 It's the reason why I will not give my kids
00:11:06.000 millions of dollars upon my death. 1.00
00:11:07.740 It's stupid. 1.00
00:11:08.940 And I'm gonna give you a book recommendation at the end 1.00
00:11:10.660 that I absolutely think you should read
00:11:12.100 on that and other things around money.
00:11:15.180 But having a money plan is gonna allow you
00:11:17.860 to be able to understand if I've got this business,
00:11:21.840 what am I doing with my capital?
00:11:23.540 And then long-term as it grows, how do I protect it?
00:11:26.420 How do I create that moat?
00:11:27.420 So that is number two.
00:11:29.800 Number three is the money vision, okay?
00:11:32.760 Here's what I believe.
00:11:34.160 I believe God wants you to be great.
00:11:36.980 I believe you were created in God's image.
00:11:39.340 Whatever your creator is,
00:11:41.280 maybe you believe in source or Allah or Jesus or whatever.
00:11:44.700 Honestly, maybe you're an atheist, but I just believe this.
00:11:48.300 I believe if you're watching this,
00:11:50.380 he wants you to be amazing.
00:11:51.680 He wants you to be wealthy.
00:11:52.740 He doesn't want you to do ones and twos.
00:11:54.580 Some of you guys think, well, I'm donating this,
00:11:57.000 I'm doing that, I built one houses.
00:11:58.600 is he wants you to do tens and hundreds.
00:12:01.400 He wants you to do more.
00:12:02.560 He wants you to give more.
00:12:03.640 He's created you in his image so that you can become more
00:12:07.600 so you've got more to give.
00:12:08.740 And when people say it's not about the money,
00:12:10.300 I just say you haven't given enough away.
00:12:12.740 Have a money vision for your life.
00:12:15.580 Figure out what you wanna create.
00:12:16.940 What impact do you wanna have?
00:12:18.280 Have that vision.
00:12:19.700 Understand the wealth, write it down.
00:12:21.540 This is the kind of net worth I want by this date.
00:12:23.840 And build a plan to get you there.
00:12:26.100 And understand that you're gonna have to become better
00:12:28.920 to achieve it, but that's the whole point.
00:12:31.860 That's what we're here for.
00:12:33.580 That is the journey.
00:12:35.080 It's not the destination,
00:12:36.380 it's who you get to become part of that process.
00:12:38.600 And it starts with having a vision
00:12:40.360 for what that outcome looks like.
00:12:41.720 And I wanna encourage you to go deep, okay?
00:12:46.320 I remember one time I had a friend of mine, Mark,
00:12:48.320 he came over to my house for some business advice.
00:12:50.900 And I could tell he had some challenges
00:12:53.500 around personal value, charging for what he does,
00:12:56.980 and like making money off of his services
00:13:00.680 because he felt like he should give it.
00:13:01.900 He's a person of faith and he just wants
00:13:04.080 to support his community and if people are suffering,
00:13:06.060 he wants to help them.
00:13:07.380 But I told him, I said, you have to value
00:13:09.740 what you're creating so that the world values it.
00:13:12.780 We don't value free.
00:13:14.000 If somebody says, hey, I wanna give you a free workout,
00:13:15.980 you're gonna be like, well, he's not very good,
00:13:17.160 why is he doing free workouts?
00:13:18.760 Right, if they wanna do free coaching
00:13:20.740 or free consulting or free this, they don't value it.
00:13:23.080 Why are you doing free?
00:13:24.160 That's the mentality.
00:13:25.120 People want to, you're $10,000?
00:13:27.120 Holy cow. 0.89
00:13:27.960 I can't afford it.
00:13:28.740 But man, if I could, that would be amazing.
00:13:30.300 You must be so incredible.
00:13:32.060 And he's like, I could never do that.
00:13:34.040 I could never charge that much money.
00:13:36.260 This is what I said to Mark.
00:13:38.280 I said, what if the money you collect,
00:13:40.440 you gave it to your church?
00:13:42.500 Oh, immediately unlocked, boom, cracked open.
00:13:45.840 He said, why?
00:13:47.340 I would charge more.
00:13:50.300 Interesting.
00:13:51.680 So all of a sudden, you made it not about yourself.
00:13:54.420 You made it about other people.
00:13:55.940 And in that moment, you knew that there was more
00:13:58.900 that you could charge to collect more, to give more.
00:14:01.740 And when I said, hey, you believe in tithing?
00:14:04.240 It's a thing.
00:14:05.320 What if you gave 10% of your revenue to your church
00:14:07.580 and you align your giving with your business revenue?
00:14:10.460 How hard will you push to collect money?
00:14:12.680 How hard will you push in your next marketing campaign?
00:14:14.740 How hard will you push to build your empire now?
00:14:18.800 Now that that's the outcome, what are you gonna do?
00:14:21.720 Now you have a money vision, now you have alignment,
00:14:24.320 now you have purpose, and that energy will just be felt
00:14:27.560 and it will support you because I believe
00:14:29.880 the world rewards those that support life.
00:14:32.300 And if you're out there trying to do good
00:14:34.280 and help other people, you're gonna have an amazing life.
00:14:37.500 You know, I gotta share this story
00:14:38.880 because my buddy Garrett Gunderson is,
00:14:40.600 I call him Money Jesus, okay?
00:14:42.060 He actually looks like Jesus.
00:14:43.180 He's a comedian, but he's actually one of the world's
00:14:44.900 top tax planning, wealth experts, family office kind of guys. He's an incredible dude. And he did
00:14:50.860 this exercise for my boardroom coaching group. It's for folks that are kind of like 5, 10 million
00:14:56.060 in annual reoccurring revenue in their business. And a lot of them have like $100 million plus net
00:15:01.080 worth because of the value on their businesses and software and all these things. And he asks
00:15:05.420 everybody, close their eye, and he asks them a question. He goes, let's pretend I just deposited
00:15:10.100 $1,000 a month free.
00:15:12.960 Taxes are paid $1,000 a month.
00:15:14.660 What would you do with it?
00:15:16.340 And they said, what if I deposited $5,000?
00:15:19.080 Every month, each and every month,
00:15:20.540 taxes are paid, no, no, nothing to do with it.
00:15:23.320 What would you do with it?
00:15:24.620 And then he said $10,000.
00:15:26.400 And then he said $100,000.
00:15:28.040 Then he said a million dollars.
00:15:29.480 And then he asked everybody a great question.
00:15:31.480 He said, at what point did what you were gonna do
00:15:36.260 with the money flip to be not about your life,
00:15:39.260 but about helping other people.
00:15:42.180 That was fascinating.
00:15:43.800 Ask yourself that question.
00:15:46.440 At what point would the excess money
00:15:50.220 coming into your life through your businesses,
00:15:52.820 above and beyond your needs to live,
00:15:55.320 would it require you to decide to make it less
00:15:57.980 about you increasing your quality of life
00:16:00.080 and more about supporting other people's quality of life?
00:16:03.640 Because that is the opportunity.
00:16:06.020 You bring that down where it's not a million a month,
00:16:08.220 it's not $100,000 a month, but it's 10,000 a month,
00:16:10.520 it's 5,000 a month, it's 1,000 a month,
00:16:12.260 and you make it about other people,
00:16:13.540 here's what I'm gonna tell you is gonna happen,
00:16:15.040 you will attract that into your life.
00:16:17.000 That will become part of your ability
00:16:20.040 to attract abundance into your life.
00:16:22.740 Because here's what I wanna leave you with, okay?
00:16:24.560 This message, okay?
00:16:26.580 Time is more valuable than money.
00:16:28.780 You can get more money, but you cannot buy more time.
00:16:32.660 That's a Jim Rohn quote.
00:16:33.660 Jim Rohn is the OG of personal development.
00:16:35.740 If you haven't watched anything he's ever done,
00:16:37.540 Please, please study Jim Rohn.
00:16:39.700 But time is more valuable than money
00:16:41.480 because you can get more money,
00:16:43.180 but you cannot buy more time.
00:16:45.420 I don't care how rich you are.
00:16:47.160 So I promised you a book.
00:16:48.240 I wanna leave you with this, okay?
00:16:49.960 The book is called Die With Zero by Bill Perkins.
00:16:53.160 It is a fascinating read.
00:16:55.720 I love the way he's breaking everything down into metrics,
00:16:58.200 but the big argument that he makes
00:17:00.120 that is worth considering is when you die,
00:17:03.240 if you die with excess, whatever that amount is,
00:17:06.140 It could be $100,000, it could be $500,000,
00:17:09.200 and it could be 5 million or 50 million.
00:17:11.460 Whatever you die with essentially are years
00:17:15.640 that you could have bought back in your working life, okay?
00:17:19.160 And that's just one of a dozen incredible concepts
00:17:22.360 that he argues.
00:17:23.200 And the cool part is he's not saying don't build an empire,
00:17:24.860 he's not saying don't work your butt off,
00:17:26.980 but he's giving you specific frameworks
00:17:28.580 for when to give money to your children,
00:17:30.560 when to give money to charities,
00:17:32.820 how to think through it through first principles approach.
00:17:35.460 That's why I love that book.
00:17:36.960 It's what I would encourage you all to like leave right now,
00:17:39.660 go online, get the book, get it ordered,
00:17:41.620 get it on your Kindle, get it shipped to your house
00:17:42.940 because it will absolutely transform your money mindset
00:17:46.980 and your beliefs around life
00:17:48.860 and how to get more out of it.
00:17:49.940 And for me, that is what I encourage you all to do.
00:17:52.200 As you know, I wanna challenge you all
00:17:54.120 to live a bigger life and a bigger business
00:17:56.120 and I'll see you next week.