Dan Martell - September 12, 2024


The 3 trades you need to get rich


Episode Stats


Length

36 seconds

Words per minute

242.14517

Word count

149

Sentence count

9


Summary

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

There are only 3 trades you need to understand to get rich. The first one is to trade your time for money. The next level is understanding how you can trade money for time. That's where entrepreneurship kicks in. Having an assistant is buying back your time. The third one is trading money for capital. That s where you make investments and those investments produce more capital that you reinvest and you create a flywheel that keeps growing on itself.

Transcript

Transcript generated with Whisper (turbo).
00:00:00.000 There's only three trades you need to understand
00:00:01.660 to get rich.
00:00:02.500 The first one is to trade your time for money,
00:00:04.520 which is called a job.
00:00:05.840 Most people start there that I've got time,
00:00:07.520 I do some work, I get paid.
00:00:09.160 The next level is understanding
00:00:10.640 how you can trade money for time.
00:00:12.560 That's where entrepreneurship kicks in.
00:00:14.240 Having an assistant is buying back your time.
00:00:16.080 So when you start trading money for time,
00:00:18.040 then you get more efficient, you create leverage.
00:00:20.240 Ultimate form to get really rich
00:00:21.960 is trading money for money.
00:00:23.380 That's where you make investments
00:00:24.860 and those investments produce more capital
00:00:26.640 that you reinvest and you create a flywheel
00:00:28.680 generates cash and it just keeps growing on itself every year that's where all the wealthiest people
00:00:33.480 in the world at but you got to start at one then go to two then go to three