You've Been Lied To: Millionaires Expose the Truth About Wealth

[00:00] We asked wealthy people one simple question.  What is the biggest misconception people have   about wealth? And what they said might completely  change how you think about becoming rich. Brian,   I am so excited because today we're revealing  the lies that people believe about wealth,  

[00:16] what the truth actually is, and what it means  for you and for your money. I'm Brian. He's   Bo. And we're two wild and crazy guys who  here to tell you the truth about wealth to   help you reach financial independence.  With that, let's dive right in. [music]

[00:36] [music] So, Brian, this was the question that  we laid out. It said, "What is the biggest   misconception that people have about wealth?" And  honestly, we got tons of great responses. And many   of our clients shared not only a misconception,  but also the reality behind what's true about  

[00:52] the misconception. Yeah, we're we're very  fortunate. And we get to sit in the front   row of our millionaire clients and specifically  every year ask them what creates wealth. We create   content off that. But there's also a section  and you just laid it out, Bo, where we actually  

[01:07] ask them an open-ended question of what are the  misconceptions? And that's what really has created   the content today. The seven biggest lies that  we're fed. Look, I fell prey to this. I grew up in   a household lots of love, lots of hard work, lots  of discipline. But the thing that I always heard  

[01:24] from my father is you have to be born with it. You  have to come from a, you know, have a silver spoon   in your mouth. I'm here to tell you, I love that  today's show gets to dispel a lot of those lies.   Well, and you just alluded to the very first lie  that we're told about wealth is that you have to  

[01:40] be born with it. When we actually looked at some  of our client responses, this is what they said.   Uh the biggest m misconception is that acquiring  it has to do with luck. I.e. you're born into a   wealthy family. You receive an inheritance.  Uh that on sacrifice, hard work, discipline,  

[01:56] calculated risk-taking, and responsible  decision-making. It's it's more on the luck stuff   and less on what you do. Or how about this one?  That it can only be achieved by lucky situations   or generational legacy. Yeah. And that leads  to, well, hey, if this is what we're being fed,  

[02:14] that's a lie. What's the reality? And and this is  one of those stat points that I remember when I   read, personally for myself, I read Millionaire  Next Door. And I was like, whoa, it looks like  

[02:27] the actual reality is that a lot of these wealthy  people are first generation just like me. And then   I can remember when I was working my first public  accounting job and started doing tax returns. I   remember calling my dad and be like, "Dad, a lot  of these people are small business owners or they  

[02:43] work this." You wouldn't believe what these people  pay in taxes. You wouldn't believe in what I felt   like I had had the window or curtain opened. And  that's what we're here to share is because there's   a lot of stats like of Millionaire Next Door that  show that this is first generation behavior. Yeah.  

[03:00] Most millionaires are self-made. And this is not a  new phenomenon. If we look at a number of studies   that were done, we can go all the way back to  1892. And there was a study of millionaires   that found that 84% of millionaires or the  millionaire equivalent in 1892 were self-made  

[03:16] or 1996 when the millionaire next door came out,  80% of millionaires were first generation. In 2019   with the Ramsay survey of millionaires, 79% of  millionaires are first generation. And even in  

[03:30] our own money guy abound wealth client survey, we  found that 75% of our respondents are also first   generation. So it must be true that in order to  be wealthy, you don't have to be born with it. You  

[03:44] don't have to get an inheritance. You don't have  to get lucky. There must be something else to it.   Well, and look, we've done we've shared this stat  before and usually it gets us lots of engagement   in the comments section because people just don't  like hearing that stat. I actually looked at it  

[03:58] as liberating and as actually coming from humble  beginnings, you coming from humble beginnings.   That stat empowered me. But for some reason,  some people get upset about it. And I'm here   to for all of you who are like, "No, the system  stacked against you." This next stat will kind  

[04:13] of bring it all back around. Because there's no  way that that stat that 80% of millionaires are   first generation can be true without this second  one. Cuz if you are somebody who comes from money,  

[04:25] this should be cold water and scare the heck out  of you because 70% of wealthy families lose their   wealth by second generation. 90% lose it by third  generation. So if you do happen to be one of those  

[04:39] people that is born into an affluent family  or does receive sort some sort of inheritance,   don't squander it because that's what a lot of  your peers are doing. It's because the second and   third generations are not good with the resources  is why the first generation has to keep doing it  

[04:55] over and over and over again. We sit in the place  we believe whether you come from money or whether   you don't come from money, achieving financial  independence and building wealth is attainable  

[05:08] but it's not going to happen automatically. You  have to be an agent for your own future financial   security. Let's talk about law number two. This  is one where look there's a a little sliver of  

[05:24] this that this has something to it. But a lot of  people believe the lie that money buys happiness.   And look, we're going to put we're going to put  some meat on this bone. But a lot of people think   if I can just have a million dollars or I can  have $3 million, a goal number out here of X,  

[05:40] that they're going to be happy. There's obviously  more to it than that. Yeah. This is what our   clients said. Listen to these responses.  The biggest misconceptions is that that a   dollar amount when reached will solve all of your  problems. Or how about this? It doesn't solve all  

[05:53] your problems or make you happy or it won't change  your level of happiness. It will just amplify your   current personality. The money that you have  or that you receive or that you build really  

[06:08] just makes you more of who you already are. Yet,  even though that's true, even though there's not   a goal number, and we have clients who've reached  financial success that will exclaim that that's   not the case, the average American right now,  if you were to ask them, believes that in order  

[06:24] to be happy, in order to classify yourself as  a happy person, you would need to earn over   $284,000 a year in annual income. Well, look,  that's disconnected because that's three times  

[06:37] the median income. that is like puts you in the  top three% of people of what they make. So that's   that's obviously disconnected. So let's let's  kind of pivot and let's talk about what's the  

[06:49] truth. And the reality is is money is nothing  more than just a tool. You won't find happiness   and a specific dollar amount earned or a specific  amount invested. But the money can help you do  

[07:03] things that will bring you happiness. And what are  some of the things that do bring happiness? Well,   one, and we talk about this all the time, are  experiences over possessions. Creating memories   and doing things and activities and having things  you can take with you are often times way more  

[07:20] valuable than the things or the items that you  can spend your money on. So, experiences over   possessions. Obviously, time with the family is  going to be more important. And I just gave away   the second one is because we want you to have  those experiences with key people that actually  

[07:35] bring happiness and fulfillment to you. Typically,  that is your friends, that's your family. Make   sure you're making blossoming memories with these  awesome people. So, obviously, it's the people you   spend time around, but it's also the work that  you do. It's uh the study found that giving back  

[07:52] or pouring into the community around you, pouring  into other folks around you is a great way for you   to experience happiness or figuring out how you  can engage in work that you're passionate about.   Whether that be the vocation that you do, the job  that you do every day, or maybe it's the thing  

[08:07] that you volunteer for, the thing that you do on  the side, the thing that you do in the margin,   if you can find fulfillment in the way that you're  spending your time, it's a lot more likely that   you're going to be a happy person. And I want  you to be purpose purposeful on how you structure  

[08:21] your life. And look, there's a lot of research on  happiness that if you're setting yourself up for   long things, I know this sounds ridiculous, but  this is true. commutes. If you can have if you can  

[08:33] have a longer if you have a long commute, there's  a lot of people that you think in the short term   that won't cause a problem, but in the long term  it probably can. So pay attention to how you're   structuring your life. And then I like this last  point just to kind of bring close this loop is can  

[08:48] you get outside of yourself spiritual fulfillment?  Are you doing are you thinking bigger than   yourself? This kind of gets back to the giving  because I also think that it's you always hear   the adage it's better to give than to receive. But  he also if you can be a person that's spiritually  

[09:03] based meaning you're thinking about how do I build  a life that's bigger than me. I think it really   brings in the engaging and passion work giving  back but also understanding that look I need to  

[09:15] be a good person. Money is not just about what I  can buy or what I can do with this. It's about how   do I live the best version of myself. All right,  bro. We're talking about seven lies about wealth   or misconceptions. And lie number three is one  that I think society has forced upon us. And it's  

[09:33] this idea that you can see wealth. Oh, if someone  is wealthy, it is ultimately going to be visible.   Listen to some of these responses that our clients  gave when we asked them about misconceptions. The  

[09:46] biggest misconception is that you can see wealth.  Many people who look quote rich are not wealthy.   And most people that I know that actually are  wealthy don't look rich. Or what about this   one? People know that we're comfortable, but they  would have no idea we're multi multi-millionaires.  

[10:03] Or you cannot see wealth because wealth is  built from the dollars that you don't spend,   not the dollars that you do spend. And that's why  I love that we get to share the truth. Real wealth  

[10:15] whispers. You often talk about stealth wealth.  It's one of those things is that being rich is so   much better than just looking rich. Yeah. Often  times, I try to tell my kids this whenever they   see someone who has a really fancy car, a really  nice house, like, "Oh, daddy, so and so must  

[10:30] be rich." I'm like, "Baby, they may or may not  be." But often times when you see those things,   you are not seeing a representation of how much  money someone has. You are seeing a representation   of how much money someone has spent. and how much  someone has spent is not reflective of what they  

[10:46] have. And I think society and the Instagram real  world that we live in is telling us a very very   different thing. Look, I've been around the block  for a while and I can remember back in the mid90s   when Millionaire Next Door came on the scene. One  of the the headlines that came out of that book  

[11:00] that seemed like it was on the nightly news and  made their rounds with all the entire news cycle   was that most millionaires drive Ford F-150. F150.  That's right. You know, and that's because that   was the worker truck of the small business owner.  Well, we'll we'll take it even a step further. The  

[11:14] study from Experian said that 61% of households  making more than $250,000 a year don't drive   luxury brands. Instead, they drive less showy  cars like Hond's, Toyotas, and Fords. So, this is  

[11:28] something that I think is really valuable is that  those who have it don't feel like they have to   flex with the whip. And so, what do people why do  people do that? What's the reason why people try   to show their wealth? Well, obviously it's so that  they give off the perception of being wealthy. So,  

[11:43] if you truly want to be a financial mutant, you  need to recognize that, man, I don't need to   try to keep up with the Joneses because there's a  really good chance that the Joneses are broke. So,   I want to be careful spending money on things  that I don't care about to impress people whose  

[11:58] opinions don't matter. If you can figure out what  it is that you enjoy, what it is that you value,   what it is that you want to spend your dollars  on, you're going to find it's likely not going   to be the things that are showy and impressive to  other people, but it's going to be the things that  

[12:14] actually matter to you. Well, and I I still  want people to to spend time on happiness   by bedazzling your basic life. Don't mishar us.  We're not saying don't do vacations, don't drive   a reliable transportation. We just want it all  to be purposeful. I want you to kind of when I  

[12:29] say bedazzle your basic life, I still want you to  go on trips, make memories, do all those things   that we talked about that are kind of indicators  that work towards happiness like time with family,   being purpose purposeful with your time and what  you're here for. But it's just that you understand  

[12:45] the value of your money and so you don't have  regrets. So when you're in your 50s and 60s,   you still look back and go, "Yeah, I did it right  in my 20s. Yeah, I did it right in my 30s. Yeah,   I did it right in my 40s and I knew how to take  and turn a little bit into a lot so I could have  

[12:59] my great big beautiful tomorrow. All right,  so wealth is not something that often should   be seen. Another thing is we shouldn't let our  wealth affect our mindset or the way that we think  

[13:11] because lie number four is that having wealth or  being wealthy makes you superior to others. Listen   to what our client said. The biggest misconception  is that there's a moral component associated with  

[13:24] wealth. That wealthy people are somehow more  trustworthy and those without money have a moral   deficit and can't be trusted. Or how about this  one? Having a lot of money does not mean that you  

[13:36] are a better person than regular folks. The public  tends to glorify the wealthy as heroes to be   followed when in truth they are just regular human  beings with the same flaws as all the rest of us.  

[13:48] You know, I I I go on these walking meetings with  um friends and other entrepreneurs and others cuz   I I love going on walks and and a mutual friend of  ours there, another business owner, we were on a  

[14:00] walk um not too long ago and we had a conversation  and we were like, people over $und00 million,   how many of them can we say are great people? And  I'll be I'll be honest, there were some people we  

[14:13] came up with, but there's a lot more that you see  broken households, you see just not the greatest   versions of of what you expect out of humankind.  And I think there's something to that. Look, we we  

[14:26] we think that money is obviously a very important  tool, but it is it makes the key point that your   wealth is not your worth. And it's something that  I think everybody needs to be mindful of that this  

[14:39] is just a tool. What? Wealth or being wealthy does  not define you or the kind of person you are. What   it most likely is is wealth is a reflection of  wise and consistent choices made over a lifetime.  

[14:52] We we do an annual survey where we ask our clients  say, "Hey, how did you achieve your wealth? What   was the thing that brought you to it? What  was the thing that allowed you to be wealthy?"   And 76% three out of four of our clients said that  they were able to reach their very first million  

[15:08] dollars. Not by being better than someone  else at something, not by being a virtuoso,   not by climbing the corporate ladder and being  a top seuite executive, but simply by saving and  

[15:21] investing, exhibiting consistent saving behavior,  living on less than they make, building up wealth.   So being wealthy is not a function of you  are a better person, a more moral person,  

[15:33] a more smart person. It's really a reflection of  hey, I was willing to make consistent decisions to   arrive at the financial circumstance I'm at right  now. Well, I also I want to I want to create this   as a as something that's an encouraging stat as  well, is that I think a lot of us would look at  

[15:48] ourselves and go, are we are we that special?  You know, and when I see a stat like this is   that 76.4% were just savers and investors. They  took small decisions, small good decisions,   and just did it consistently over and over again.  So, you don't have to be the virtuoso. You don't  

[16:04] have to be the senior executive. You don't have  to be this dreamer/ontrepreneur. You can do this   with just good common sense and good decisions.  And then another thing we want to remind you of,   and I think Henry Ford is the one that popularized  this, that money doesn't change who you are. It  

[16:20] merely unmasks you. If a man is naturally selfish  or arrogant or greedy, all that happens when they   have money is the money brings that out. It  amplifies who you are. So whether you are  

[16:34] wealthy as you're sitting here today or whether  you're not wealthy is worth self-reflecting. Okay,   what kind of person do I want to be? And if I'm  able to have more wealth, if I'm able to build up   the financial coffers, will I be a be better able  to lean in to being the kind of person that I want  

[16:51] to be? Well, I think it's it's an amplifier. You  know, this is one of those things I I talk about   in in Millionaire Mission is that I think that  all money does is really amplifies who you are.   It's once again why going back to that list of  what creates happiness and fulfillment. What are  

[17:08] you a generous heart? because that's going to  get you outside of where's your spirituality,   where's the those type of things, the wise of  who we are as people is going to keep you from   getting into the greedy stuff and and and thinking  you're better than somebody else. There's a better  

[17:24] way to do money. All right, Brian, we're talking  about lies or misconceptions about wealth. Now,   this next one is really interesting because this  is a lie about what's required. And there's this   common idea out there that if you want to be  wealthy, not only would you have needed to  

[17:38] inherit it or not only would you needed to have  wealthy parents, but if that was not the case,   the only way for you to get there is that you must  have a high salary. You need a a very large shovel  

[17:50] in order to build wealth. But listen to what  our client said. The biggest misconception is   you have to have a high salary to build wealth.  This particular client made $60,000 as a starting   salary in their 20s. Yet, they were still able to  build hundreds of thousands of dollars in liquid  

[18:06] net worth at that salary through smart and wise  investing. Another client says, "Sure, income   helps, but most importantly, it's based on the  behavior of starting early and being consistent   over a long period of time." Or most people can  outspend any amount of income if they don't have  

[18:24] discipline to save and invest. And Brian, we've  seen this. We have seen folks who make millions   and millions of dollars a year in annual income  and yet they are still broke because they've not   figured out the key to actually building wealth.  Yeah. The the money is only a part of the recipe.  

[18:41] And what do I mean by that is that guys, anybody  who's hung out with us for any amount of time,   you know, we talk about it often is that there  are three ingredients to wealth creation.   And the most important or the foundational  point is the first point, the first ingredient,  

[18:55] which is discipline. Can you actually live on  less than you make? Because if you can live on   less than you make, it creates margin in what's  coming through your household cash flow. And that   margin creates that second ingredient that we just  talked about, which is the money. And once you can  

[19:11] create that margin of money, if you give it the  third and most valuable of the three ingredients,   time, now we're cooking and have the true recipe  for wealth creation. Yeah. Building wealth is  

[19:23] not about how much money you make, it's what you  actually do with that money. And while it likely   is easier with a big shovel, and maybe there's  not as much friction, it can still be done even   I'm going to wait till my income gets higher, then  I'm going to start saving. Then I'm going to start  

[19:42] making better financial decisions." You would be  amazed if you can just take a little bit today.   If you can just make some wise decisions of with  where you are today and begin making those sound  

[19:54] financial decisions, those will compound through  time. And maybe one of the best examples of this   is actually from the Ramsay Millionaire Study. The  study found that the third most common profession  

[20:08] amongst millionaires was not lawyers or attorneys  or professional athletes. The third most common   profession among the millionaires that they  interviewed were actually teachers, educators.  

[20:23] Well, this makes sense if you think about look at  first you're like that's a contrarian stat point.   Why why would teachers be millionaires? because  we just, you know, when we think of teachers,   we they're definitely not super highly paid. You  know, the the median salary here in the United  

[20:37] States, K through2 teachers, is $63,000. How  can these show up in the top five of category   of professions for millionaires? Well, think  about force scarcity. Number one, two big things,  

[20:49] force scarcity and automatic contributions from  a pretty young age. The second, well, that's the   second point is starting as early as possible.  So, it's back to having the consistency of doing   it early and doing it often. We didn't put this  slide in there, but we talk about it often. If  

[21:05] you compare the journey, we use our if you go to  moneyguy.com/resources and our wealth multiplier,   the journey for a 20-year-old who starts saving  and investing is three times easier on what they   have to actually put into work than a 30-year-old.  For a 20-year-old compared to a 40-year-old, it's  

[21:22] 10 times easier. And then so yes, you're broke as  a joke when you come out of school, but a little   goes a long way. And I think teachers because  of the forced behavior of them having to fund  

[21:34] a portion of this pension to fund a portion of  their savings, it creates the perfect ingredients   to for long-term success. Yeah. When it comes to  building wealth, the key is consistency and time,  

[21:46] not necessarily a high salary. High salary is  not required. Now, lie number six is a little   bit interesting, and I think this one is going to  sound somewhat contrary, but the lie is that when  

[21:58] it comes to wealth, when it comes to quote unquote  being wealthy, it's all about money. It's all   about how many zeros, how many commas you have.  But that's not the truth. That's a lie. Listen   what our clients said. They said, "The biggest  misconception is that wealth is about money. It's  

[22:14] also about time. Money gives you the freedom to  do the things you want when you want." Those two   things combined is what is actually wealth. Or  how about this one? Health is truly the greatest  

[22:27] wealth. If I'm healthy, then I am wealthy. I mean,  this is a powerful point. You know, this is one of   those things as I've gotten older. We often  talk about the element of time. I always say  

[22:41] for my 20somes, you are literally a billionaire of  time that you make sure you act accordingly. Well,   also as I'm getting it, as I am in my 50s, I now  recognize how scarce my component of time is. So,  

[22:56] I think that that leads to the truth. Wealth  is the freedom to focus on what matters. And   it's amazing how much of this is if you can make  smart decision decisions when you're early, you  

[23:08] can hopefully get options and flexibility and do  things when you want on your terms in the future.   Yeah, it's about a few things. One of the things  was alluded to was health that you just mentioned  

[23:20] flexibility. It's the ability to do what you want,  when you want, how you want on your terms. When   you no longer have to trade your time to earn  money, you can begin trading your money to buy  

[23:34] back your time. I think it was it was Chris Rock  who said, "Wealth is not about having a lot of   money. It's about having a lot of options. It's  about being able to do the things that you want   to do on your terms. If all you're doing is trying  to get to 1 million,5 million, $10 million and you  

[23:52] don't understand what freedom that actually brings  to you, I think you're going to find that it's a   pretty empty goal. Well, and and how many people  we we'll get a front row seat to creating success,   but also seeing what successful people do. One of  the things that breaks my heart is when you see  

[24:08] somebody who's got this this goal of I'm going  to live my best life in my 50s and 60s because   that's the retirement date that I've set and I'm  going to do all this deferred gratification until   that point. And then what happens when they get  sick? And that makes the point of that's why I  

[24:23] want you to live your best life in your 20s, your  30s, your 40s so you don't have regrets is because   there is something to the fact that if you don't  have health, what have you really got? And there's   a stat out there that says 49% of retirees who  are happier in retirement plan and and take care  

[24:39] of their health because what I don't want you to  do is to just take your health for granted and you   get to have a front row active role in how well  you want to be. I I you know I had a pastor who   I became really close friends with. We actually  traded text last week. It's always because he  

[24:54] lives out of different state now. before we  separated. But he's the one cuz he's a few   years older than me that he said, you know, that  you get a crossroads at your 40s that you either   choose how healthy your body is. Are you going to  use your body as an instrument and exercise it and  

[25:08] keep it healthy? Guys, there is something to that  because I have focused on my 40s being healthy   and now I'm in my 50s and I'm definitely focused  on it because if we can keep oursel healthy, you  

[25:20] get more activity, you get more experiences, you  can be an a a big integral part of your success   in this element. And so wealth is about giving  you flexibility about options. You want to make  

[25:32] sure that you stay healthy so that you can enjoy  your wealth. But wealth is also about the ability   to create abundance in the lives of those that you  care about. And this might be in terms of giving.  

[25:45] Maybe I give money. Maybe you volunteer your time.  And while I think we all have kind of arrived the   conclusion, okay, yeah, giving is good. And we've  heard that it's better to give than to receive.   But the Cleveland Clinic actually found that there  are specific benefits associated with giving,  

[26:02] with being generous, such as lower blood pressure,  lower levels of depression, lower overall stress   levels. So if you can use your wealth and  build wealth to be able to affect impact  

[26:16] and support those around you in a healthy way,  there are benefits that you may receive that are   not monetary but are still unbelievably valuable.  Yeah. And I even this goes outside of even these  

[26:28] stats. You know, a lot of if you do any research  on sleep, anybody who has trouble going to sleep,   you'll find out a common exercise that you can do  at bedtime to help you sleep better is exercises   of gratitude. Thinking about what you actually  have appreciated about the day or what's going  

[26:44] on in your life right now that's good. Guys, there  is a direct correlation to this. Health is wealth.   Don't sleep on this. A lot of us achievers, we  d, you know, we're driven so hard that that we  

[26:56] think that we can do anything and everything. But  you will will reach a level where you stress out   your nervous system if you're not taking time to  get outside of just the money. There is something  

[27:08] to focusing on the wealth. And Bo, it all gets  back to time and experiences with people we love,   the memory making, all these things. Do you see  how this stuff starts to interconnect in a lot   of ways that I think a lot of content on personal  finance misses? That's what we're here for is to  

[27:25] try to connect those dots so you can live your  best life. Yeah. It's not about having a huge   account balance. It's about using the resources  to live the life that you ultimately want to   live. So obviously we've painted it in this light  that being wealthy quote unquote is a good thing  

[27:43] and can be a positive thing. But then there's lie  number seven. And I think this is probably maybe   the the most damaging and most harmful of all  the lies is that there has been a lie that has  

[27:56] permeated society that wealth is unattainable.  It's not something that can be achieved by the   everyday person. This is what our client said. The  biggest misconception is that it's unattainable  

[28:08] for the masses. The truth is anyone can amass more  wealth than they currently have today. Another   misconception is there are factors outside of our  control. Inflation, housing market, job market,  

[28:20] etc. that are pretend preventing us from being  able to achieve wealth at all or wealth is out   of their reach. Just saving a portion of income  over a long period of time works. Get rich slowly.  

[28:36] Yeah, this is the biggest takeaway and I hope  that we are the poster children for this. We   both come from humble beginnings and that's one  of the things that I a lot of this content for   the Money Guy Show was built on the back of when  I was 22 years old and started my wealth building  

[28:53] journey. I had the discipline figured out, but  I just didn't know what to do with the money.   But I'm here to tell you guys, if you will  show up and listen to our content, we truly   do believe the truth is anyone can build wealth.  It's just one of those things. I think that yes,  

[29:08] the system right now, yeah, I get it. Education's  kind of distorted right now with all the student   loans out there. Yes, cost of housing's gone up,  but man oh man, the the innovation that's around   us that has made it easier to to invest to put  your army of dollar bills to work, that part,  

[29:25] the innovation and how fast the economy is  growing. You can be a part of that. You don't   have to try to beat the market. You just have  to be with the market. And I think you're going   to see that your money can act actually work  harder than you can with your back, your brain,  

[29:39] and even your hands. But even though you can  build and we think anybody can build money,   you need to know what to do with that money or how  to make that money an expression of living your   best life. And Bo, that's what we are here to try  to help people understand. Not only the analytics,  

[29:55] but the why of how you maximize this tool of  money. Yeah. The formula is actually pretty simple   when you think about it. It's live below your  means, invest consistently, avoid highinterest   debt, and then let time and compounding do all of  the heavy lifting. And while that's an incredibly  

[30:12] simple formula, it's not always that easy. But the  earlier you figure it out and the more discipline   you can exercise, the easier it can become. It  will take sacrifices. You will have to defer some  

[30:27] of today for tomorrow. But if you can do that, you  can build wealth. You can live the life that you   want to live on your terms. And the only person  stopping you from that is you. I think a lot of  

[30:41] people, because I love these shows where we're  dispelling lies that are so common out there.   And a lot of you who are watching this content,  I think what you get from us, if you've actually   You're like, man, this is pathetic almost how  these guys are telling me things I've experienced  

[30:58] in my own journey. Because once again, we are  the mouthpiece of all of our millionaire clients   who've responded to our annual surveys. And you're  like, how do these guys know so much? Is because   we've lived this life. We've helped hundreds if  probably thousands of people at this point on our  

[31:14] client list and then millions of you out there in  the audience. So, we know what goes in goes into   creating wealth. And look, you can try to keep  your plan and your life as simple as possible,   but the reality is is that when you create success  and it will show up, when you create success,  

[31:31] complexity comes around the corner. And it is  you can try to keep things as simple as you   want. And when I invite you, when that complexity  shows up, we've got the answers for you on that,   too. We work with clients all across the country.  We're going to leave the porch light on for you.  

[31:46] We'd love to help you navigate because a lot  of you are going to cross into the threshold   you've gone through this one time. As we said,  80% of millionaires are first generation. So,  

[31:59] there's a lot of newness to a lot of you. You  don't know how to maximize this tool of money   that gets more and more comp complicated as you  create success. Let us be the guide map for you   so you can live your best life and own that much  more time in this important life that you have.  

[32:16] That's you, like I said, you're not a billionaire  of time anymore, but now you have the resources to   buy more of that scarce resource of time. And I'm  your host, Brian, joined by Mr. Money God team out