Digital Social Hour - The Shocking Truth About Financial Freedom – You've Been Lied To! | Jason Graystone DSH #551

Episode Date: July 14, 2024

🌟 The Shocking Truth About Financial Freedom – You've Been Lied To! 🌟 Are you ready to uncover the secrets to true financial freedom? This episode of Digital Social Hour with Sean Kelly is ...a must-watch! 🎥 Tune in now as we dive deep with financial expert Jason Graystone, who reveals the astonishing truth about traditional financial advice and why it’s time to rethink everything you’ve been told. 💥 Discover why saving 10% of your income isn't enough and how incomplete strategies are setting you up for a midlife crisis. 🚨 Jason shares his journey from a rocky start to achieving financial freedom by leveraging smart investments, the power of income diversification, and why being a millionaire is no longer a worthy goal. 💡 Don't miss out on these game-changing insights and actionable advice that will transform your financial future. Watch now and subscribe for more insider secrets. 📺 Hit that subscribe button and stay tuned for more eye-opening stories on the Digital Social Hour with Sean Kelly! 🚀 Join the conversation and let us know your thoughts in the comments below. Your journey to financial freedom starts here! 💬💸 #RetireEarly #ManagingFinances #FinancialLiesExposed #FinancialEducation #DigitalSocialHour CHAPTERS: 00:00 - Intro 1:00 - What made you start this journey 4:00 - Is real estate a good investment 5:30 - Forex 8:50 - What did you do when you found out you were having a kid at 22 11:26 - Is 10% a year enough 16:58 - Diversify your income streams 20:24 - Making $12 Million Off One YouTube Video 22:08 - The Power of Organic Marketing 24:30 - The Forex Space is Full of Scammers 27:35 - Do You Invest in Cryptocurrency 28:14 - How to Get to 9 Figures 29:54 - Where to Find Jason APPLY TO BE ON THE PODCAST: https://www.digitalsocialhour.com/application BUSINESS INQUIRIES/SPONSORS: Jenna@DigitalSocialHour.com GUEST: Jason Graystone https://www.instagram.com/j_graystone https://learn.tiersoffreedom.com/optin1603536628118 SPONSORS: Deposyt Payment Processing: https://www.deposyt.com/seankelly LISTEN ON: Apple Podcasts: https://podcasts.apple.com/us/podcast/digital-social-hour/id1676846015 Spotify: https://open.spotify.com/show/5Jn7LXarRlI8Hc0GtTn759 Sean Kelly Instagram: https://www.instagram.com/seanmikekelly/ Learn more about your ad choices. Visit megaphone.fm/adchoices Learn more about your ad choices. Visit podcastchoices.com/adchoices

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Starting point is 00:00:00 Did you know a 2018 study showed half of prenatal vitamins tested had unacceptable levels of heavy metals? I'm Kat, mother of three and founder of Ritual. When I was four months pregnant, I couldn't find a prenatal I could trust, so I created my own. Ours is matricable, third-party tested for heavy metals, and recently earned the Purity Award from the Clean Label Project. But don't just take my word for it. Get 25% off at virtual.com slash podcast. Although I'm not against saving, it's not a complete strategy. So when people do that and they go, this is what ends up in midlife crisis,
Starting point is 00:00:38 because they get to a point where they're like, I was good. I saved 10% of my income. I did what I was told to do. Yeah, it's not complete. So there's a lot of great advice, but it's piecing it together so that you can actually become financially free. Absolutely. And that's what not a lot of people are able to do. Wherever you guys are watching this show, I would truly appreciate it if you follow or subscribe. It helps a lot with the algorithm. It helps us get bigger and better guests,
Starting point is 00:01:04 and it helps us grow the team. Truly means a lot. Thank you guys for supporting, and here's the episode. All right, guys. Got Jason Greystone here today. We're going to talk financial freedom. Everyone's goal, right? Everyone's goal, and not many people hit it. Not many people. Not many people hit it young, too. No, and I think there's a lot of people that want to hit it younger and younger which is um causing a lot of problems right especially on social media yeah when did you start diving down this road i was 20 just coming up to the 22nd birthday and um i was found out i was going to have a child wow i wasn't ready for that at all yeah and he's in the green room right now and uh he's 19 now wasn't ready for it at all. Yeah. And he's in the green room right now. And he's 19 now.
Starting point is 00:01:46 Wasn't ready for it. Didn't want that. I had a really poor upbringing and I had, you know, I just wanted security. I wanted all the things that I didn't have. And just, yeah, it made me, it put a rocket up me to figure this stuff out. So I went deep into investing and wealth building and tried every trick in the book, man. Yeah. Everything. There's a lot of traditional in the book, man. Yeah. Everything.
Starting point is 00:02:06 There's a lot of traditional teachings that I disagree with. Yep. So you got to be very careful who you listen to in the financial space. Well, there's lots of incomplete strategies, like, and a lot of them have got agendas to promote certain things and they add a little lot of showmanship to it to sell it. One of the things like Robert K kiyosaki you know great guy great doing great work but you know the whole 10 of your income thing save 10 of your income you save 10 of your income for 10 years you've saved one year's income and if you do that for
Starting point is 00:02:37 40 years at which you're at work for you've got four years income there so although i'm not against saving it's not a complete strategy so when people do that and they go this is what ends up in midlife crisis because they get to a point where they're like i was good i saved 10 of my income i did what i was told to do and then it gets closer and closer and they realize they can't retire and then it's like crap i better start living yeah and buy a convertible car you know they go and blow the money and go and live for a few years but yeah it's not complete so there's a lot of great advice but it's it's piecing it together so that you can actually become financially free absolutely and
Starting point is 00:03:15 that's what not a lot of people are able to do i'm not a fan of saving dude no just because of inflation um your money's going down so fast so So if you save 100K in like 10 years, it'll be worth probably 70, 80. Yeah. Well, yeah. I mean, the cost of, I mean, inflation means that the cost of living will double
Starting point is 00:03:33 every 16, 20 years or so. Yeah. So even that, like if you need, people say, I want to be a millionaire by 30, millionaire by 40. Well, when you get there,
Starting point is 00:03:44 you're going to need two million right if you want today's lifestyle that's without you saying you want to up your lifestyle increase your lifestyle agree you want to increase your lifestyle you need even more yeah you need three four million right being a millionaire should no longer be the goal for it should not be the goal it's such a fluffy goal and this is one of the things that i you know i try and promote as much as possible you want to be a millionaire great but most millionaires are equity millionaires anyway and you can't you know if that's in property you can't take a brick off of your house and go and pay for breakfast right yeah you need income to have a great life and the goal is a great life not a millionaire
Starting point is 00:04:18 so you just need cat you need income yeah and you get income from a lot of the time, not being a millionaire. It's so true. So true. And I totally agree with you. Millionaire should not be the goal. It's a very, very fluffy goal. Yeah. So what's your advice when it comes to buying real estate? Cause I am on the fence. Grant Cardone says it's one of the worst investments you can make for a personal home. How do you feel about it? Yeah, for me, me i mean i look at it this way property is an asset to a degree um but i'm much more of i'm much more favor putting my money into things that grow and evolve whilst i'm asleep so i'll give you an example if If I invest in Apple and Microsoft and stocks and companies, you've essentially got the greatest minds on the planet
Starting point is 00:05:10 around the table whilst I'm asleep, thinking of ways how they can outdo each other and innovate and build these great products. And I'm asleep. Or you could buy a house which is rotting and decaying and it needs repairs and the roof needs redoing and the grass needs cutting and the fences are breaking and you've got tenants that come in. Okay, they pay you some money, but they're also setting things alight and burning the carpet and all these kind of things. And it's just a headache.
Starting point is 00:05:40 So I like to put my money into things that are not going backwards. I like to put my money into things that are not going backwards right um i like to put things into evolution and for me human beings are are that yeah i'd much rather invest in humans and real life and companies that are breathing and living and moving forward rather than something that's rotting and decaying in the sun another investment you have is in the forex space right yeah so that was the last piece of the puzzle. I don't recommend, I recommend most people don't trade.
Starting point is 00:06:09 First and foremost. Just not, most people can't do it or most people go into it as the first point of call like to make money. Whereas I went into it as the last piece of the puzzle to replace the last piece of income
Starting point is 00:06:22 that I needed to not have to work. And underneath all of that i had lots of passive investments lots of cash lots of you know solid fixed income investments but um and then i could afford to speculate a little bit and lose a bit of money until i eventually came good and then found my feet. And, uh, and, and when you're in that state, you can concentrate and you can focus and you're more poised. Whereas if you are gambling everything you've got on something you've, you know, that's very volatile and you can't pay the bills or you need that money to pay for food. You're not that very approach is, is the thing that's going to stop you from being able to
Starting point is 00:07:05 master it because you need to be process oriented logical minded you know you need to you need to be able to make decisions and and when you're irrational you're in poverty you just can't and that's the problem with people without getting the forex or crypto these get rich quick schemes they're desperate for money a lot of them. They're desperate for money. A lot of them. They're desperate. Yeah. Desperate for money. There was a study done in India, 56 cities around southern India, and they tested the farmers' IQs. And when the market was booming and the crop was good and market was great, their IQ raised by 30 points.
Starting point is 00:07:40 Holy crap. That's a huge jump. Huge, right? And when they're in poverty and the market was dropping and it was slow, it dropped by up to 30 points, up to 30 points. So it just proves that when you're in a level of poverty, and when I say poverty, I mean, you can't... Are you interested in coming on the Digital Social Hour podcast as a guest? Well, click the application link below in the description of this video.
Starting point is 00:08:05 We are always looking for cool stories, cool entrepreneurs to talk to about business and life. Click the application link below and here's the episode, guys. Maintain or upkeep the home comforts that you've acclimatized to, right? That's what I define poverty as. It's your own personal comfort that you can't maintain.
Starting point is 00:08:27 And when that drops and you go into this kind of animal mode, you can't possibly think about learning complex skills such as trading. It's impossible. So the position you're in is the problem. And the approach you're taking to learn to trade is what's stopping you from being able to learn to trade. Right. Right. Whereas if you've got money in the bank and cash in the bank
Starting point is 00:08:45 and you've put some money into maybe some, you know, index funds and then you've put a bit more into large cap stocks and then maybe you've kind of wet your feet a bit and you've worked your way up into kind of medium cap stocks or maybe some property. When you then go, right, I'm going gonna go onto a roulette table or i'm gonna go and play poker or i'm gonna go and learn to trade if you allocate that portion correctly if you lose it you're not losing the house right therefore you just don't you don't care yeah and
Starting point is 00:09:16 it's it's fine absolutely most people don't do that no so going back to how we started having a kid at 22 there's a lot of people right now watching this having kids at 20s, thirties that are living paycheck to paycheck. I know a few of my friends right now in this situation. What did you do from there? Yeah. So first of all, I did save, right? So I started saving my money. I was already doing that before I found out that we was going to have a boy, but it was really, I became fascinated with this idea that I could replace my income from more leveraged income streams. So I was an electrician. I was going out and I was an electrical engineer and, you know, exchanging my time for money, having to go into London every day and build insights and all the rest of it.
Starting point is 00:09:54 I wanted income where I could, that I could generate being mobile and, uh, and more passive, you know, require less time to do it um and i created this kind of system where i thought well if i if i invest 10 of my income and get a 10 return per year which you know seems high for some people and low for others um i can replace my income in about 20 years right and just when i figured that out i thought wow you know why don't i teach that in school because yeah you go to work for like 45 years typically right and i thought and the math worked out and i was like wow okay what about getting this thing down so then i started going what if i increase my savings every three months and put those into investments and then what what if I can increase my income?
Starting point is 00:10:45 So I started looking at, you know, overtime. I was working hard. I was basically putting as much money into this system that I was creating so that it would churn and start spitting out returns. And then it was like, okay, how can I take this to the next level and speculate a little bit? So then I had, I had to learn a skill.
Starting point is 00:11:08 I had to learn how to read financial statements. I learned how to pick stocks and value invest. And then I just took it further and further until the point I learned how to trade financial markets. That took me about three years. And, uh, I lost probably 40 grand nearly. In three years? Um, on the early part, about in the first year I lost probably 40 grand nearly. In three years? On the early part.
Starting point is 00:11:28 In the first year, I lost about 40 grand. After about three years, I became profitable. Not much, but it was enough. And after that point, I'd replaced my income. So from start to finish, I started at 20 years, and I got it down to about three and a half. Wow. After the point that I became profitable at trading. That's incredible.
Starting point is 00:11:44 Yeah. So by 29, so I was 21 when I found out, struggle, struggle, you know, did all the thing. And then by 29, I completely replaced my income that I was getting from my job.
Starting point is 00:11:55 And I retired. And you mentioned 10% a year. Do you think that's still enough to aim for these days? I think anyone can get 10% per year, for starters. And if you think about that, if you like you like if i if the first question that you said about financial freedom if you ask the room who wants to be financially free everyone would put their hand up right if you ask how many people have
Starting point is 00:12:18 achieved it everyone's hand would go down maybe two two hands, one hand, right? Because the truth is it's like 2% to 3% of the population actually become completely financially free. And then when you look at what most people working towards financial freedom are actually doing, and you look at their savings and how much they've got in their bank account, you see that it's like $1,500 on average. Anyone who saves, the average people that save have got about $1,500 on average. Anyone who saves, the average people that save have got about $1,500 in their savings account.
Starting point is 00:12:50 So even if you've got 10% per year, that's better than nothing. And anyone can go and do that. You go and put it into a high growth index fund and over time you will approximate 10% per year, which it has done over the last 93 years that i've been studying like you know that i've been i've studied and um anyone could do that right it's it's slow um but it's wise and it's and it's something that what's the what's the risk what's the worst case you're going to
Starting point is 00:13:18 have that money still right which most people don't have this is the kind of argument i have with people it's like what's what what's the alternative okay have nothing you people don't have. This is the kind of argument I have with people. It's like, what's the alternative? Okay, have nothing. Don't do anything and lose your money. So you're going to have it. The other thing is, a lot of people think pensions are boring. Yeah, pensions are boring,
Starting point is 00:13:37 but a lot of people don't do the numbers. So talking about 10% being enough, the average life expectancy is 77 at the moment that's crossed between men and women the average retirement age is 65 so you've got 12 years right at the end of your job hoping that you die at 77 the average pension pot in the uk is about 87 and a half grand that is about six grand a year or 600 pounds per month nothing which is like 900 a month yeah now after you've worked for 45 years and you've really put in your hard work right you don't want to be living a lifestyle of 800 900 dollars a month right in your golden years they call it but people don't do the numbers and then if and then you have to hope that you die at 77 because your money's run out and you've got more
Starting point is 00:14:30 money at the end of your life or more life at the end of your money than money in your life so otherwise you become a burden on your kids or become a burden and no one wants to become a burden i don't want to for sure please help me you know no one wants to be in that situation so people don't do their numbers if they did do their numbers they think right okay i need this much by then and then 10 might be enough for them if it isn't then what i what i would suggest is increasing your savings too many people buy so much stuff now that they don't need to impress people that they don't care about right sure we all know that we all all know that. We all go through that phase.
Starting point is 00:15:05 We all go through it. Yeah, we definitely all go through it. And I've had all the nice cars. I'm in a place now where I've just got enough. If I could live this day forever, I'd be a very happy person. And, you know, I love my life. I don't need anything else.
Starting point is 00:15:20 But not everyone's got that. And everyone's kind of still chasing, chasing, chasing. But a lot of buying this stuff to impress other people is shaving years and years off of your chances of becoming financially free. It's also removing your chances completely of becoming financially free. And that's the truth of it. So instead of doing that, put the demand on your own lifestyle. Truly pay yourself first. Everyone talks about pay yourself first.
Starting point is 00:15:45 I don't think most people understand what that actually means. Paying yourself first means putting more of your, like, as soon as you get paid, you put more into your investments. And before you buy all of that stuff, so that you feel the pinch in your own life. And it's like, wow, you know, I've just increased my savings. I don't know how I'm going to afford something like, I don't know, I'm going to afford to eat next week.
Starting point is 00:16:11 But that's the magic. Something happens when you do that. When you put a demand on your own lifestyle, something happens. You'll get a client ring you and say, oh, can we work on that project? It's always happened to me. And the best way to think about it and prove my point is if anyone's got kids when they found out they were going to have a kid they were like i can't how are we going to afford this but yes you did it yeah and the reason you did it is because you didn't have a choice so paying yourself first is that exact same situation
Starting point is 00:16:40 where you just say i have to make this work this is like a tax if it was taxed you'd pay it but if it's your own investments you don't whereas i did that was that was the difference it was like i have to do this first this is the first priority um and yeah you can absolutely do it and then and then the beauty is the more money you have in in the market or the more liquidity you have the more your creative brain comes alive and allows you to learn new things so then you can learn about stocks and then you can learn about you see other opportunities that you didn't see before because your head was in the sand right right so now you're open to opportunity and a suggestion and oh do you want to come in on this yes i saw that now but before you didn't see it because you're thinking i don't know how i'm going to pay my bills can't possibly think about giving money to anyone else you know what i mean absolutely what do you think of the advice
Starting point is 00:17:31 to diversify your income streams they always say the average millionaire is seven yeah yeah i mean for me diversified income streams has come as a it's almost um you can't avoid it yeah you literally can't avoid it right and and the the more success you have in investments the more um i just think the more poised you are and calm you are as a human people trust you to they want to do stuff for you or partner with you there's kind of opportunities everywhere the key then say no to things that are going to take up too much of your time um but yeah you absolutely can't avoid creating new income streams. When I look at new income streams, it still has to be mobile and leverage.
Starting point is 00:18:14 And when I say leverage, whatever you're going to do, just be a master of delegation. You're never going to be financially free if you can't delegate things. Outsource. Yeah, outsource or just get rid of the things that you're not inspired by because it starts to drain you, you start to resent the thing and it kind of has a reverse effect. Whereas if you go, right,
Starting point is 00:18:35 we've got this opportunity to create more leveraged income, we've diversified, we've got this opportunity here to create a new income stream, but I don't want to get sick of that income stream. I want it to work. So what are the bits that I like to do there?
Starting point is 00:18:46 And then what don't I want to do and making sure that you can delegate that. Otherwise you'll just be, if you, if you don't have a plan for how you spend your time and your money, someone else will have a plan for your time and money. Right. And, uh,
Starting point is 00:19:00 and your calendar will just be filled with other people's shoulders to cry on and all this kind of stuff. That's not a way to live, man. No. And then you start going, oh, I don't want to do that again. And then you don't. And then you repel these kind of opportunities that come at you. But diversifying your incomes as a strategy is very wise.
Starting point is 00:19:18 I know people say go all in on one. There's truth in all of it, right? Everything's half true and uh i think yes if you're an expert at something you're going in you're double downing on something because it's got a bigger picture a bigger outcome great do that and then once it gets big then you divert you take that you build wealth and you diversify income right and it's safe and it brings in lower returns but guess what you don't have to do you don't have to exchange your time for it yeah absolutely that's the first stage right trading your time for money then it becomes oh yeah the
Starting point is 00:19:49 opposite absolutely yeah you do have to trade your time for money but you very quick if you want to be free and you want to get there quick you very quickly have to learn how to delegate because not only that if you're in business like you have to you're you're bottlenecking, if you're in business, you're bottlenecking yourself. If you're just doing all the crap that you're not inspired to do, someone else is better at doing it anyway. That was my biggest thing I'd overcome my first few years, just micromanaging everything, wanting to do customer service, marketing. Yeah, you just have to let it go.
Starting point is 00:20:21 It was tough. Yeah, it is tough. It is tough because when you start, you just don't believe that anyone else can do it like yeah it's like that uh it's like that confidence from just not knowing no no and but the truth is this there is a kid running a mcdonald's right who had wiped the floor of most people's business like they're dealing with hospitality drunk people yeah they're like running this system they're 16 years old, whatever age it is. They can run a McDonald's, man. You're worried about delegating some emails. They will wipe the floor of your business.
Starting point is 00:20:52 There's levels. There is levels. Did you make $4 million off one YouTube video? Yes. That's crazy. 9 million? 9 million? Yeah, 9 million pounds, $12 million.
Starting point is 00:21:01 Holy shit, what happened? So I've been chipping away at youtube for a long time um and hopefully as i'm coming across here i'm very honest and transparent i could have blown my youtube up and sold the dream to everyone yeah but i stayed very true very authentic very you know congruent and uh teaching people the truth about this stuff. Finances, investing, trading. I was letting people watch me trade for free for years. And I was just chipping away, chipping away. And then we put our heads together and thought, what would be a great, you know,
Starting point is 00:21:35 how could I give YouTube a video and give the audience a video where they could watch it start to finish and not need me ever again? And that was the question that we had in mind. So we sat down, we it start to finish and not need me ever again. And that was the question that we had in mind. So we sat down, we went start to finish everything that you could think about on trading, speculation, strategies, brokers, everything, everything. Laid it all out, designed a really cool thumbnail that was kind of like the for dummies, you know, the for dummies. Yeah, the yellow ones.
Starting point is 00:22:03 Yeah, yeah. So we kind of ripped off that and stuck it on and done like a variation of that. And it was called Trading for Dummies uh you know the for dummies yeah the yellow ones yeah yeah so we kind of ripped off that and stuck it on and done like a variation of that and it was called trading for dummies and um we uploaded it in january and then by may it had about 10 000 and then in may it was getting about about 10 000 a day and then it just it just blew up from there and i went from 55 000 subscribers to you know 275 000 subscribers which you know which is crazy on youtube that's crazy yeah yeah on youtube is mad and um and that was in the space of a year and then what i said earlier about like you can't help but make more money um i gave that video away for free and although the youtube ad rev on that was i mean i'm in the financial education arena so the yeah the cpms are high
Starting point is 00:22:52 right it's like i think we did about 120 grand on just that video wow but the um because we built these great back-end systems we really leveraged that thing and you know just in the first few months we had 5 550 people buy a 30-day mini program with me for 297 holy dollars which was 1.6 million dollars yeah and then you know up till now it's done nine million that's insane yes absolutely crazy so almost 10 million off one video yeah no ads i've never placed an ad wow i don't have an ad account incredible you know never we'd had no marketing no ads no staff that's insane just i just spend a lot on ads to get to a million on youtube right yeah tens of thousands i know yeah most people do that's that's why i was asked to
Starting point is 00:23:40 speak on stage with stephen bartlett and alidaal because that whole event was about marketing. Oh, yeah. And you're like the organic marketing. Yeah, like the no ad ad. The ad guy. The non-ad ad guy. And that's probably more relatable to people
Starting point is 00:23:51 because running ads is hard. Yeah, yeah. I think it was a breath of fresh air because, you know, the whole ad space and meta and what they do and changing it
Starting point is 00:23:58 and keeping you on your toes. The prices are so expensive now. Yeah, yeah. Yeah, it's crazy. So, I mean, I'm sure it'll be something that I'll learn one day, but yeah. I mean, right now it's at the point mean i'm sure it'll be something that i'll learn one day but i mean right now it's at the point where people aren't even profiting off the front end
Starting point is 00:24:09 if you don't have a good back and i've paid ads you're not even going to make money right so in the back end we created a an ecosystem of products that was very leveraged of time it was like very lean very low cost you know no staff no we've had two um refunds in like well in five years of damn that's it yeah holy crap that's a good product though yeah it's amazing and the reason being is because we create everything with that in mind it's like what what would the business look like if you didn't need money and and if everyone every business owner asked that question they'd have a remarkable business they'd have remarkable conversations with their clients. They would be stuffing their business.
Starting point is 00:24:46 They just wouldn't do, you know, and, um, and ultimately they'd, they'd focus on getting results for people instead of making money. Right. You know, that's, that's, that's always been my thing. How can I get a result for someone? And then they'll tell someone and they'll tell someone. Cause there's a lot of people in your space where their chargeback and refund rate is insane.
Starting point is 00:25:03 They lose the whole payment processor. One of the biggest guys, um, who's actually one of the reasons I got into that, because I was just sitting at home, mate. I moved our family into our dream house, amazing house. I was sitting there playing a lot of guitar, eating a lot of food, trading. I didn't need to do this. But the reason I started to share my trades not as a signal service but just share an insight into what i was doing is because there was so much crap and there was one
Starting point is 00:25:29 in particular massive he was run to the back of the room you know the whole success resources yeah and um his channel just got to 220 000 subscribers and got deleted by youtube because of harmful content holy crap and he hasn't got one testimonial one good word said by any client you know damn and and someone who's claiming to have taught thousands of people to trade you'd think someone would pop up and say this guy's great but at least one yeah so at least a fake one right exactly yeah so i'll just focus on like getting results knowing my knowing people that i work with, first name basis, going for drinks and meals with them.
Starting point is 00:26:08 You're a needle in the haystack in the forex space. That's exactly what I wanted to be, man. Dude, there's so many in that space because it's easy to manipulate people emotionally in that space. It really is. You show like a good fake trade, they'll be like, oh my gosh, I need to do that. I know.
Starting point is 00:26:21 And these traders are doing it. They're taking multiple trades and then showing the winner. Or they're doubling down and buying. And you see the screenshots of these apps. They've got like 50 of the same play. So as it starts to move, they're just playing more and more and more.
Starting point is 00:26:37 And if you look at the position size, they're risking like 25% of their account, which no trader does. That's insane. That's not professional trading. That is like literally at the casino. Yeah, you're probably only going to risk like 1%, right? 1% max.
Starting point is 00:26:51 Yeah, 25 is nuts. It's crazy. If you lose that twice, you're down 50%. And most human beings cannot stand fluctuations of more than 10% of anything. Like if I lost 10% of my friends, it would affect me. If I got paid 10%, more than 10% of my average wage at a job, I would be a bit cocky.
Starting point is 00:27:12 And so your emotions start to fluctuate below plus or minus 10%. I think that's why, you know, the church figured out 10% tithing, right? That's the most they could take without... Without people complaining. It's like, yeah, just take it. Absolutely. but if it was 12 percent it might yeah there's something there yeah psychologically it's that double digit number right yeah because if it's like nine you're like
Starting point is 00:27:33 it's only single digits absolutely 10 so 10 like evolutionary we just have this kind of threshold yeah like a thermostat where it's like i can't stand losing 10 i mean if i lost 10 on my trading account i'd be i'd be sick that's why people in crypto have the toughest skin oh man 10 a day yeah up and down yeah yeah and you have to know your stuff if you're going into crypto you know following someone on tiktok just isn't gonna come no definitely not for crypto you're playing against like pros yeah buying shit coins is not the move in crypto it's not the move not the move at all yeah you have any crypto yeah i have like i have um bitcoin okay that's it that's it yeah yeah i've been holding like i've been buying bitcoin year on year for for a while i feel that
Starting point is 00:28:15 and that's it but yeah other than that i don't play it because i just don't know enough about it i stick in my lane and do what i'm good at i'd rather just give someone else like if someone's starting a business i'd rather give them money and go right okay i understand your business you've got a good reputation you know diverse from a risk and i'll give them money to go and build a corporation and take a smaller piece of a big pie rather than a big piece of a volatile pie which is a headache full of staff and full of that's not me i want to enjoy my life yeah i feel like equity is how you get to nine figures equity in businesses definitely it's scalable it's scalable it is slow at first
Starting point is 00:28:51 but it's exponential like it is it just they say like most people who are really successful um are in like 45 years old they start their their big play right and um you can it's obvious that that's why because you've figured out all the things that don't work you've built great connections you know you you know people you can get things done quicker you've learned you know you know what works what doesn't work you know how to place your money for a better return and you're invited to different conversations and then you it's almost like it all comes together and you've got this power to just like do whatever you like yeah if you've been in the right you know if you've been doing the right thing yeah you're wise at that age but yeah look at cody sanchez formosi sampar sean curry they're
Starting point is 00:29:34 all buying companies right now yeah absolutely man yeah that's that's how wealth is built but with with regards to crypto i always say like if it keeps you up at night you probably shouldn't have been in it like if you're checking If you're checking an app on your phone, you've put too much in or you shouldn't be in it at all. Absolutely. I have crypto, but I don't check it. Right.
Starting point is 00:29:51 That's how it should be. Yeah. The more you're up at night or the more you're checking your phone, that's a signal that you shouldn't be in that thing. Absolutely. You should have less money in that thing.
Starting point is 00:30:01 My mom used to text me every hour, oh, my crypto's down. Just sold at a loss. I'm like, you don't have the right mindset for this oh man i feel sorry for people that check crypto daily oh that stress not even daily hourly yeah some people are like glued to their phones yeah and i've seen it and it ruins ruins lives man but um yeah just don't don't do it absolutely there's much easier and more fulfilling ways to make money yeah jason where can people find your course and what you're up to man yeah i don't sell i actively sell anything so all i'd love to promote is my podcast okay you know if you go
Starting point is 00:30:34 and listen to always free um from episode one hopefully you're still listening by episode six but i from episode one to episode 20 i give a full like breakdown of what I recommend everyone does to have a free and inspired life like and there's no need to work with me just go and do that
Starting point is 00:30:51 wow I love it man we'll link it below thanks so much for coming on dude that was fun thanks man it's been a pleasure yeah thanks for flying out here
Starting point is 00:30:56 thanks for watching guys it was fun see you tomorrow cheers

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