Daily Motivations - Profits are Better Than Wages

Episode Date: September 12, 2022

Profits are better than wages is a guide to starting your own business, making your own profits, your own schedule, and having the freedom to be creative. Jim Rohn, in one of his famous quotes, stated” Wages make you a living, profits make you a fortune”. Instagram - @daily_motivationsorg     Facebook- @daily_motivationsorg Interested in sponsoring this show reach out to us via [e-mail] Speaker: Jim Rohn Grab your Ultimate Female Body Fitness Guide Ebook  copy now at an exclusive 50% off discount  https://selar.co/42zb40?currency=USD Kindly Support Us Below to sustain future episodes. Support the Show.

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Once I understood that, I got rich. Profits are better than wages. Nobody taught me that in high school. I went to college for a year and a half. I never heard it. I'm 25 and broke. I'm not destitute. I'm broke.

Too much month at the end of the money is broke. And I finally hear this philosophy. Profits are better than wages. Now here's the phrase that goes with it. Wages make you a living, which is fine. Profits make you a fortune, which is super fine. And you can live both fine and super fine. That's why, of course, kids should pay taxes,

because they can be capitalists, and all capitalists should pay taxes. And it doesn't take much to start an enterprise that makes a profit. I teach kids how to have two bicycles, one to ride and one to rent. I mean, you know, how long does it take? How long does it take to make a profit? I mean a little ingenuity and you're on your way. Now when I first was recruited, I'm a distributor for this little product called Abundavita and here's what my mentor said, Mr. Shove. He said Mr. Owen you can start this miracle working business part-time. You don't have to go

full-time you can start part-time. And he said if you'll devote to start with let's say 10, 12, 15 hours a week where you'll start making a profit here's what you can now say I'm working full-time on my job and part-time on my fortune because profits lead to fortune I got so excited about that philosophy I'm working full-time on my job but now I'm working part-time on my fortune, but now I'm working part-time on my fortune. I found a way not only to make a living. You won't believe this. I found a way to make a fortune.

Can you imagine what that's like then to get up in the morning? To go to work on your fortune? Not to go to work to pay the rent, which is okay. But a chance to go to work to make a fortune and I said right now I'm working part-time on my fortune and full-time on my job but it won't be long until I'll be working full-time on my fortune can you imagine what life is going to be like now here was my first goal when I started and that was part-time I wanted to equal on my profits part-time what I was earning on my full-time job this is called the magic of part-time it is so thrilling for people to start working the business part-time because now you

can work on profits and it doesn't take very long if you'll really concentrate on those 10 12 15 hours a week it won't be long if you really do it right and learn some of the skills I'm going to talk about it won't be long until you can be earning as much part-time working on your fortune as you are full-time working on your job I did that in less than six months. Now here was my second goal to make twice as much money part-time working on my fortune as I was working full-time on my job. And I reached that in less than a year. Making twice as much money part-time working on my fortune as I was full-time working on my job. It was incredible. I got rich by the time I was 31.

Here's the best advice I give my teenage friends. It was easy. What can I tell you? It was hard? No, it was easy. I'm a millionaire by 31. Let me tell you how I did it. I found an opportunity.

That's all you got to do in America. Search for an opportunity. Take the first one, right? Try it. If that isn't it, leads to another. One door closes, another door opens. This is what's exciting about America. It's full of opportunity.

A chance to try and then what? Try again and then what? Try again, never, never run out of opportunity to try. See if you can't better your life and your health and your future and your bank account and your income. Make your fortune here. I lived in America, number one. Found an opportunity, number three. Number two, here's number three.

I found a teacher. What a grand and glorious, unique thing that was for me at that time in my life I found a teacher willing to teach me and his teaching came in two parts here's what it was very simple number one Mr. Rohn you have evidently messed up between ages 19 and 25 now I could understand that but he didn't leave me there. He said, now here's the answers on how to change it all, the next six years, so that the next six years won't be like the last six.

What an incredible teacher. Taught me how to have a whole brand new six years. First six, what? I messed up. Second six, what? I got it right. Second six years, I became a millionaire. During that second six years the government was about the same. I'm telling you. Interest rates were about what?

The same. The pay scale was about what? The same. Lord knows my negative realities were the same. Circumstances were about the same. The economy was about the same. The unions and their philosophy was about the same. What was going on around me was about the same. Then how come I got rich that second six years? I was not the same. I changed. You say, well, Mr. Rohn, if you can do that, can anybody do it? Yes, I invite you on that journey. Anytime you want to, you can stay the same so that the

next six years will be like the last six. Take a look at the last six years. And I'm telling you, the next six years of your life is going to be like the last six, unless you change. Or unless you want to count on this short list that we call not much list most everybody's counting on this not much list what if all of your negative relatives turn positive what would that do for your future and your fortune what not much not much what if prices came down a little what will that do for your future? I'm telling you, not much. If the economy gets a little better, what will that do?

Not much. If you don't make plans of your own, guess what? You'll probably always fit into someone else's plans. Guess what someone else may have planned for you? Then what's going to make the difference? You're going to have to make the difference. You're going to have to take charge. Now, Mr. Shope, my teacher gave me a promise and I want to give you that promise now. Here was the promise I got and I bring it to you. Here's what my teacher said. If you will change, Mr. Rohn, he said, if you will change, everything will change for you. You don't have to change the government. You don't have to change prices. You don't have to

change taxes. Get all that. He said, if you will change, everything will change for you. Welcome to Daily Motivation, where you get motivated and inspired. And the first thing you start changing is what? Your philosophy. You start changing your mind. You start changing how you think. You start picking up new ideas and information. Gather new knowledge.

Make better decisions about what's valuable. And I'm telling you, if you do that, your whole life will change. Your health will change. Your relationship with your family will change. Your ability to cope with challenges and problems will change. I'm telling you, income, promotions, all of it will change. If you will change, it'll all change. If you won't change, it isn't going to change.

You can keep your fingers crossed if you want to and hope they'll straighten it out. You can wish for the wind not to blow quite as severe. But I'm telling you, wishing for the wind to change in your favor, we call naive at best. Don't do this any longer. Wish for a better wind. The key is to wish for the wisdom to set a better sail. Utilize whatever wind that blows to take you wherever you want to go. That is the philosophy I picked up at age 25 and it revolutionized my whole life.

And here's what I found. I found it was easy. I got rich by the time I was 31 and it was easy. Now here's my definition of easy. Got to jot this down. My definition of easy, meaning something I could do. I figure if it's something you can do,

it's easy. Now here's a parenthesis. Parenthesis. I worked hard at it. I found something I could do, which was easy, but I worked hard at it. I got up early and stayed up late, worked hard that six years. But what I did was easy, meaning it was something I could do. You say, well, Mr. Rohn, if it was so easy, how come everybody else around you during that six years, how come they didn't get rich? Here's why. It's easy not to. How else would you describe it? That's it.

You say, no, no. For all of the rest of them, it was hard for them and it was easy for you that's not true you couldn't debate me on that in front of this intelligent audience but here's the challenge let me give it to you in a philosophical phrase i tend to be a little philosophical here it is the things that are easy to do are also easy not to do. That's the difference between success and failure. So you've got the choice here today of one of two easies. Easy to or what? Easy not to. I can give you in one sentence how I got rich by the time I was 31. Here it is in one sentence. I did not neglect to do the easy things I could do every day for six years. Underline.

I did not neglect. That's the key. I found something easy I could do that led to fortune and I did not neglect to do it. Major reason for not having everything you want in America. Major reason for not having more of what you want in America. More health, more money, more power, more influence, more everything. Major reason why you don't get it. Simple answer.

Neglect. Neglect. And here's the problem with neglect. It starts as an infection. And if you don't take care of it, it becomes a disease. And here's what else is the problem. One neglect leads to another. Neglect to do wise things with your money.

You'll probably neglect to do wise things with your time. Neglect to do wise things with your time. You'll probably neglect to do wise things with your business. One leads to another, leads to another. Pretty soon, neglect has you by the throat. Emptying your purse, emptying your heart, emptying all of your chances for equities and power and all the good things. Neglect.

What if you should be walking around the block every day for your good health and you don't? I'm telling you, you're on the wrong track. You should do it. You could do it. You don't do it. That's called formula for disaster. All you've got to do is let that and a few other things accumulate for six years. And now you're driving what you don't want to drive, wearing what you don't want to wear,

living where you don't want to live, doing what you don't want to do, maybe having become what you really didn't want to become. I'm telling you, that's it. Just neglect along, drift along, and it's got you by the throat. It'll take all your values, leave you with just a little bit of dust in the summer wind, and it'll soon be gone. I hope I said that well. That's it.

That's where I found myself at age 25 until my teacher came along and said, Mr. Rohn, up till now, you've messed up. Let's see if we can't clean that up, change it all. I did. Changed my life. Not just the money, all the rest of the values that came pouring in when I understood that it was me. It was me. So take the easy approach. This stuff's easy to figure out. Getting rich is easy. I teach it to teenagers how to be rich by 40, 35. If you're extra bright, this stuff is not difficult.

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Don't miss out on this incredible deal of 50% off. Get your e-book now before it's too late. Now here's my definition of easy. It was something I could do. I figure if it's something you can do, it's easy. But here's a little parenthesis. I worked hard at it. I made sure my disciplines were in line.

I made sure my disciplines were in line. I made sure my habits were good. I made sure I did all that I could. I found something that I could do, but I worked hard at it. I got up early, stayed up late, and worked hard from age 25 to 31. But what I did was easy, meaning it was something I could do. Well, you say, Mr. Rohn, if it was so easy, how come during those six years, all those other people around you didn't get rich? Here's why. It's easy not to. How else would you describe it? That's it. It's easy to keep doing the things that don't work. It's easy to keep bad habits. It's easy not to develop the disciplines. It's easy not to. So how come I got rich and they didn't? Here's a philosophical phrase. The things that are easy to do are also easy not to do.

That's the difference between success and failure, between daydreams and ambitions. Here's the key formula for success. A few disciplines practice every day. And those disciplines have to be well thought out. What should you spend your time doing? Don't waste your time on things that aren't going to matter. But a few simple disciplines can change your whole economic future. Future with your family, future with your business, future with your enterprise, your sales career, your management career. A few simple disciplines, A few simple habits. Good habits. Repeated every day.

Now here's the formula for failure. Errors in judgment. Repeated every day. All you've got to do is to have a few errors in your judgment and repeat them every day. I'm telling you they'll spin out of control in 10 years. You'll end up driving what you don't want to drive, wearing what you don't want to wear, living where you don't want to live, earning what you don't want to earn. A few errors every day, bad habits every day. It's disastrous. Now, here's why it's easy to repeat an error in judgment. Because failure doesn't fall at the end of the first day. Bad habits don't show their horrible results at the

end of the first day or the first week or the first month. It's easy to get faked out. If disaster fell on us at the end of the first week, we'd change our philosophy. But it's so subtle, errors in judgment, bad habits. They're so subtle, they get you a little off course, a little off course, a little off course, you keep drifting off course, and all of a sudden you're caught. So you've got the choice right now of one of two easies, easy to do or easy not to do. I can give you in one sentence how I got rich by the time I was 31. I did not neglect to do the easy things I could do for six years. I did not neglect.

That's the key. I found something easy I could do that led to fortune and I did not neglect to do it. The major reason for not having more of what you want in America, more health, more money, more power, more influence, more everything, the major reason is simple neglect. in America, more health, more money, more power, more influence, more everything. The major reason is simple neglect. Neglect.

And if you don't take care of neglect, it becomes an infection and then it becomes a disease. So if you're in the habit of not doing it, doing all it takes to get ahead, get in the habit of doing it, doing all it takes. Let me first give you my definition of financial independence. Number one, the ability to live from the income of your personal resources. Now, how many resources you need, right, depends on how you want to live. But if you wish to live modestly, it doesn't take all that many resources

over a fairly brief period of time to have enough resources to live modestly. If you wish to live more lavishly, of course you need to accumulate more resources. But that's my view of financial independence. So that you can live from the income of your resources. Now, here's what else that does. Now you can choose the work you do.

Now you can choose to work or not work. Now you can work not because you have to, but because you want to. When we talk to kids about financial independence, we say, do what you have to as quick as you can so you can do what you want to as long as you can. Next, the philosophy of the rich and the philosophy of the poor. Remember, our future is primarily determined by our philosophy. Each person's personal philosophy is the major factor in how your life works out. I can't stress that too strongly.

Each person's personal philosophy is the major factor in your paycheck. It's the major factor in your health and your future. It's the major factor in your career, your personal philosophy. The decisions you make, supported by the emotions and the faith and the activity you put behind it. But the decisions come first. I used to think that my income was determined by the economy. Found out, no, it's determined by your philosophy. In another seminar, we teach this little scale. And I say, economics in America is a ladder to climb. Starts down here at $5 an hour.

Then this ladder keeps going up like this. Top income last year, I think something like 68 million. One person earned 68 million for one year. And someone else may have started at $5 an hour. So in America, we've got a ladder that shows $5 an hour up to $68 million. Now what if you had to start at $5 an hour? No problem. Just so they let you on the ladder. Who cares? Because you're going to depend on your own personal development for your future fortune. Who cares where you start? Someone says, oh if I I had a good job, I'd really pour it on.

But I got this lousy job. I just goof off. Well, see, then you're not in line for the better job. Guys, I'm looking for a better job. So no better jobs looking for a better you. You don't need to concentrate on finding a better job. Just concentrate on finding a new skill. Read another book.

Attend another class. Philosophy that determines your economic future. Now, what if you had to start at $5 an hour? How can you go from $5 to $6? Well, it primarily depends on your philosophy. Let me give you three or four good philosophies to consider to going from $5 an hour to $6 an hour. Here's number one, $5 an hour, we call the minimum wage. Now, to get to $6, here's all you have to do. Wait for the government to change the minimum wage. But you must ask the question, how long did it take last time?

And the answer took a long time. You say, well, I haven't got that much time to go from five to six. So there's got to be another way. Here's the other way. Wait for the company to give you a raise. What will that take? Six months, maybe a year? And you say, gosh, that's a long time.

Okay, we've got two philosophies now. Wait for the government, wait for the company. Here's the third philosophy to change your economics. Go on strike. And refuse to work if they don't pay you more money. Now, if you're by yourself, that's a little risky. That philosophy does work now, what we call collective bargaining. You know, where 200,000 get together or 50,000 get together and say, we're not going to work until we get paid more money.

You know, now you might be able to force the hand and get some more dollars or some more pennies. We call that the philosophy of demand. It is possible to use the philosophy of demand to increase your income. But now jot this down. Here's the problem with the philosophy of demand. You can't get rich. You might get a few extra dollars. You might get a little benefit of health care.

But you can't get rich. Even in prosperous America. Why? It's the wrong philosophy to get rich. Right country, right economy, wrong philosophy. Wouldn't that be awful? If you lived in the right country and in the right economy and had the wrong philosophy? Now it's not wrong in terms of moral. It's wrong in terms of accomplishing your goals.

Because you can't use the philosophy of demand to get rich. You say, well, how can you get rich living in America? Jot this philosophy down. It's called the philosophy of performance, not demand. Here's what happened to me when I went from poor, not real poverty, but from poor to rich over six years. I changed my philosophy. I didn't have to change America. I didn't have to change this economic ladder. I didn't have to change the marketplace. I didn't have to change the tax structure. I didn't have to do any of that stuff. All I had to change was myself. And here's what my mentor said, and I think you've heard me say it if you've listened to anything I've done. Here's what he said, for things to change

for you, you have to change. For things to get better, you have to get better. I started going to work on myself. Then here's what he said in terms of a promise. I want you to take this one home. He said, if you will change, Mr. Rohn, everything will change for you. I began that process immediately, age 25. Now, this ladder of success is very exciting. Can you think of somebody that makes $50 an hour? Now this ladder of success is very exciting.

Can you think of somebody that makes $50 an hour? Jot this question down. Is it possible in America to multiply your income by 10? Kids would be fascinated with this question. Is it possible to multiply your income by 10? And the answer is, of course, yes. And kids with wide eyes will say, is that right? Can you start at the bottom and someday multiply your income by 10? The answer is, of course, of course, of course.

Now if you multiplied it by 10, could you, can you think of anybody that makes $500 an hour? I'm telling you the Beverly Hills lawyers where I live make at least $500 an hour. Now we've multiplied income by 10 again. Would it be possible to multiply your income by 10 again? Of course. $5,000 an hour? What do you suppose I get paid? I'm telling you it's possible to multiply your income by 10 and then by 10 and then by 10. I lecture with Norman Schwarzkopf, the old general. Guess what he gets paid for his speech? $65,000 for one hour. 65,000, not 5,000, right?

65,000. Unbelievable. Now the person that's on up here, right? Like Bill Gates and you know, who knows who else here, that makes $68 million in one year. We say, well, is that legitimate to pay someone $68 million in one year? And the answer is, of course. If they helped the company make a billion dollars last year, would the company pay them $68 million?

And the answer is, yes, it's chicken feed. It ain't that much. Now here's what Shope said. Shope said to climb this ladder as high as you wish because we live in wish country. How much property will they let you own? As much as you want, all you want and all you wish. Here's the country you live in, all you want and all you wish. That's about as good as we can make it. He said to climb this ladder as high as you wish. Here's the country you live in, all you want and all you wish. That's about as good as we can make it. He said, to climb this ladder as high as you wish. Here's what he said. You've heard my seminars before. He said, work harder on yourself than you do on your job. Work harder on yourself than you do on your job. Wow. He said, if you work hard on your job, that's terrific. You can make a living.

But he said, if you work hard on yourself, you can make a fortune. And that's the ultimate. Wow. First six years of my economic life, I worked hard on my job, made a living. Second six years, I worked hard on myself and made a fortune. Incredible. So we learned earlier, right? Success is something you attract by the person you become. But now let's talk a little bit more about philosophy. Here's the philosophy of the rich and the philosophy of the poor. First, the philosophy of the poor. Poor people, now this is not demeaning now, this is simply people of modest means. People of modest means tend to spend their money and invest what's left. If they have anything left over, they might save it or invest it. That's the philosophy, the poor philosophy.

To spend your money, save what's left. Here's the philosophy of the rich. To invest your money and spend what's left. It's the same money. It's just a different attitude and a different philosophy. Either spend your money, save what's left. Or spend your money, save what's left, or invest your money, spend what's left. Now here certainly is the better philosophy, to invest your money and spend what's left. Now here's the tendency on attitude because attitude

determines so much of our lives. What difference does it make if a child has a dollar when you ask what should he do with it? It's only a child and it's only a dollar. But see, here's where it all begins. Your financial journey begins with what you do with the first dollar. It's where it begins. Now, sure, you can do the wrong things and finally correct that, get on a better path. But it all begins on what you do with your resources.

Jot this phrase down. It's one of the best for the weekend. Here's the two challenges of life. Number one, the development of our full potential. That's challenge number one. Challenge number two is the wise use of all our resources. That sums up life in general. The development of all of our potential and the wise use of all our resources. One of our resources is time, and we talked about that. Now we're gonna talk about the wise resource called money. And let me share with you now a little plan, because when I met Shof,

and he asked me about my financial condition, he said, how much money have you saved and invested the last six years? And I said, zero. He said, not a good number. Here's what I told him. If I had more money, I'd have a better plan. Now jot this down because here's what he said.

If you had a better plan, you would have more money. Next key phrase. It's not the amount that counts it's the plan that counts so let's start with something now as seemingly as small as one dollar what should you do with it here's what we teach teenagers especially you should never spend more than 70 cents. Never spend more than 70 cents of each dollar you earn or each dollar that comes your way by gift or by labor. Now, you've got to have some plan what to do with your dollar. I've developed this little plan simply for suggestion.

And then you've got to do the rest to revise it and do whatever you want to with it. But here's what I teach. Never spend more than 70 cents. You got to pick something, some number. This is the best one I could figure out. Now we've got another 10 cents, and another 10 cents, and another 10 cents, which is the 30 plus the 70, which is the full dollar.

So we spend nothing more than 70 cents. Now what do we do with the other 30? Here's some of the most important information. 10 cents is for charity or for church or whatever worthy projects you think you might engage in. Here's one of the best things to teach kids, generosity. Because first we're going to teach abundance, to provide more than you could use for yourself.

Means to produce more than you need, so you have more than necessity. You have some to share. Some churches teach a 10%, a tithe they call it, which is fine. The key is to either administer this 10 cents yourself or to give it to some institution, church or whatever and let them spread it around let them put it where it's needed now the next 10 cents is called the use of capital I have the unique privilege now to teach capitalism in Russia when I first went told you, 8,000 in my class in Moscow. I teach capital. Let me give you now my definition of capital and capitalism.

It's just in a couple of sentences. Here's what capital and capitalism is. So jot this down. Capital is any value you set aside. Capital is any value you set aside. Capital is any value you set aside to be invested in an enterprise that brings value to the marketplace hoping to make a profit. That's what capital and capitalism is. I can say it in one sentence.

Capital is any value you set aside to be invested in an enterprise that brings value to the marketplace hoping to make a profit. Now the capital is the value you set aside. Taking capital and investing it in an enterprise and bringing the value to the marketplace we call capitalism. Capital and capitalism. If you set aside, and I suggest, part of your capital should be set aside for an enterprise to show a profit. This is called active capital, where you actually engage in the enterprise that makes a profit.

Now, another 10 cents is for passive capital, where you let someone use this 10 cents out of every dollar. You put it in a bank that pays interest. They use it and they pay you for the use of this money. That's called passive capital. So we've got active capital and passive capital. Maybe you invest this in a stock eventually if you have enough money and the stock pays you dividends and also there may be an increase in the value of the stock. So this is the little formula I come up with. 70, 10, 10 and 10. It's very simple.

Now, when you first start, if you're an adult now, you may be in such bad shape financially that you couldn't do the 70-10, 10-10. If you're in real bad shape, you may have to do the 97-1, 1-1. Because it may take this to pay your bills. If you haven't had a good plan up until now. But jot this down now. It's not the amount that counts. It's the plan that counts. So let's say you were in such poor financial shape, you had to start 97-1 for charity, 1%, another 1% for active capital, another 1% for passive. Now here's the key.

To get these numbers starting up and get this number starting down. If you will actually do this, you can't believe how exciting it is to watch the numbers change. Remember what Shope said, if you will change what? Everything will change for you. If you start to change, I'm telling you, these numbers will start to change. And the first thing you know, these numbers keep going up, up, up, up, up, until finally you can get to the 70, 10, 10, and 10. Now, when you make a lot of money, these numbers all have to change again. You know, if you're making fortunes, you can't spend 70%.

That would be obscene. I probably spend less than 10% of my income. So this number, this is where I had to start, 97, 1, 1, and 1, finally getting to 70, 10, 10, and 10. But now as time has passed for me and my fortunes have increased, this 70 has gone way down to 10. And now you can imagine if the 70 has gone clear down to 10, you can imagine now what these numbers will be.

Here's what it is. A good plan to consider. So make this note. It's your life and it's your future and it's your economics. This is just a good plan to consider so make this note it's your life and it's your future and it's your economics this is just a suggested plan you can tear this one up and develop one of your own I'm just here to stir the pot I'm here to stir your mind to get you to think okay now here's two three more keys on financial independence here's number one, keep strict accounts.

Part of it is just for habit and the other part is for self-esteem and the other part is for future benefit. Keep strict accounts. It's just a good habit to have. It's like picking up the trash, not throwing the toothpick cellophane on the floor. It's just, it becomes the person you are. Keep good accounts. Here's the next one. Pay your taxes. I finally became a happy taxpayer. Next in building your financial independence is to keep strict accounts. Don't let yourself or anyone else talk you out of keeping strict accounts.

You've got to know exactly where it comes from. You've got to know exactly where it's all going. Don't fall into the I don't know where it all goes trap. Don't fall into that. It just gets away from me. No, keep strict accounts. It's much easier than it used to be with personal computers and so many households and the software that's readily available. It's as easy as entering your deposits and checks and receipts, and the computer will tell you exactly where you stand. And it does more than that. If you're really wondering where it all goes, the computer will tell you that too. Most of the programs let you categorize your expenditures, print it out, and you'll know exactly by category where it all goes and when it's right there in front of you you'll be able to evaluate what you're buying and what you're wasting take that

wasting part and add it to one of your capital funds it'll get you there that much faster and here's another part of building your financial independence. It's a matter of attitude. First is philosophy about money. Second is attitude about money. Here's the best attitude. All of us must pay for democracy and freedom and free enterprise and a marketplace and a country second to none with gifts brought here from all over the world. I finally became a happy taxpayer. Once I was educated, you say, well, they misuse it. What do you care? That's not going to make any difference in your future, is it? That's not going to greatly reduce your chances to become rich and powerful.

It shouldn't make any difference at all whether they misuse it or not. Sure, we need to vote well so the country is run as well as possible and there's as level a playing field as possible. But what if there isn't? I'm telling you, you can't base your life on that. Vote well and then chart your own course. Vote well and take charge of your own life. We've all got to pay.

And after you pay your taxes, pay yourself first. Take care of the stuff off the top first and learn to live off the rest. Make your investments, whatever size they are, before you pay your bills. Give to charity before you buy the extra things you want. Decide how you want to live now versus how long you want to work. Decide how you want to live now versus how long you want to work. versus how long you want to work. This means if you want to spend everything you make now, you'll have to work longer and harder. If you spend everything you make now, you'll have no choice but to work longer and harder.

But if you start investing in your financial future now, you'll have the choice between retiring early or traveling more or continuing your career or starting a new career later in life. Once again, it all comes down to choices. Think tomorrow today and live better tomorrow. Here's the next thing to think of when you're planning your economic future be careful with your credit cards selling money is big business you probably get invitations in the mail to sign up for a new credit card a couple of times a month having some credit cards is important especially if you travel it's safer than. It's easier to track than cash. But be careful. I know that's hard. When you buy something with a little piece of plastic, you don't feel the effect until you get the bill. So make sure that whatever you buy,

you're still happy with your purchase after you get the bill. And be careful with credit. It's the easiest way to get into debt. Go into debt strategically, not habitually. If your business is high risk, if you're an entrepreneur whose career requires a great deal of risk and a great deal of strategic debt, keep the debt in your business and out of your personal life. I know this one's hard too, because for most entrepreneurs looking for capital,

the lender requires you guarantee the debt personally. So plan your debt just as you plan your fortune. Here's another point to remember in becoming financially independent. It's hard to get rich fast. It's easy to get rich slowly. It doesn't happen overnight. With conservative investments, it takes a while. It takes discipline to keep adding value to your future. A little every month, a little every month, a little every month. It takes time to build your fortune, your financial independence. Be patient in building your financial independence.

It will come small steps at a time, little advantages after little advantages. It's hard to be patient, but it's just like building your ambition and achieving your goals. It happens one step at a time. There are plenty of stories and examples and experiences of people who began their careers destitute and had enough resolve to do it until, until they had more than they ever dreamed of. Study the experiences of others who built their way to the top instead of those who were born

there.