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warning warning debt free can be a trap it's interesting to me how many people focus on being debt-free and and there's there not necessarily anything wrong with that depending on what your motive is so I want to talk to you today about this subject Rich debt poor debt how rich people use debt to create wealth did you know there's a difference between how rich people and poor people view debt there's the difference between how rich people and middle- Class People view debt and so today what I'm going to do is I'm going to give you

all of the perspectives and the poor person's perspective of making money and Etc using money and borrowing money I'm going to give you the middle- class person's View and I'm going to give you the rich person's View and then you get to pick one because I believe you're smart and hopefully you believe you're smart so that makes at least the two of us and so I'm going to give you a different perspective because people say all the time well Marin I don't want to borrow money because I'm almost debt free but I've got news for

you maybe you've never thought about this before debt free is still zero now I remember the first time I ever saw a rich person borrowing money and I was so confused like why would you borrow money you're rich like you could just write a check for it and and so a lot of times those of us who are wealthy when we buy things we could pay cash for it but we borrow the money for it instead and I'm going to tell you a little bit later on when I get to the rich people part why

we do that so I want to talk to you first and foremost about poor people um so first thing we're going to do is we're going to talk about poor people and number one poor people calm down my I know you're excited okay how poor people make money uh how poor people spend money and um how and why poor people borrow money so how and why do poor people make money how and why do poor people make money how do poor people make money well how how do poor people make money how well they exchange

time for money because they believe this lie that time is money so poor people make money by exchanging time for money they'll say I'll work for you for x amount of dollars an hour and and by the way there are some middle class people who also Exchange time for money so but we'll get to that in a minute but poor people basically one of the reasons they're poor is because their own effort over time is the only resource they have to use to make money so if you think about wealth if you think about wealth

as a spiritual outcome right wealth abundance spirit is abundant right like there's no there's no limit to Spirit it's Limitless it's abundant right there's so much that there's more than enough for everybody to have more than enough there's still be more than enough left over It's Like Oxygen right but because wealth is a spiritual outcome if you are using a limited it's by the way it's not only spiritual it's an unlimited spiritual outcome so if you look at the four levels of value being the lowest level of value is implementation the resource that you use

on that level is you use your muscles over time and in fact I'm going to do it this way use your muscles over time to create wealth so which means you're moving something you're you're lifting something you're carrying something you're driving something you're fixing something you're building something you are using your muscles over time implementation is the lowest level of value and so muscles are a what physical or spiritual resource which one physical muscles are physical time limited or unlimited resource limited so what you're doing is you're multiplying a physical resource times a limited resource

and hoping for an unlimited spiritual outcome this is why working for money this is why this can can never make you rich now you can do this and get rich but you won't get rich because you did that okay you can do this as you are creating wealth but you're not going to do this and get rich because you did this so the lowest level of of of of of um value because wealth is the result of value creation right so the money that you make is the result of the value that you create for

somebody other than yourself I I did a video a long time ago called money is not wealth and if you want to know know more about that in detail go watch the video but money is not wealth well if money is not wealth what is wealth wealth is your ability to create value for someone other than yourself the greater value that you can create for the greater number of people that are not you the more wealth you have CU that's what wealth Is wealth is your ability to create value for somebody other than yourself so

this is the lowest level of value so you multiply a limited resource times a physical resource and then what you get is you get a limited outcome why because that's all it can produce everything reproduces after its own time and so poor people make money by selling their time and then what do they do because often times at least this was the case when I was poor often times when you don't have enough money to do the things that you dream about what you do is when you come home from working for money is you

anesthesized beer like like hanging out with your buddies at the bar like joining a bowling league there's nothing wrong with joining a bowling league there's nothing wrong with in of itself watching television unless you're broke right then the television is electronic income reducer so what happens is we anesthesized Pain by either drowning it in some substance or watching somebody else live a fake life vicariously on the electronic income reducer so what we could do instead with that discretionary time is we could have some discretion and do something during that time that's not going to be

exchanging time for money we could learn a new skill during our discretionary time we could build some new relationships with some different people during our discretionary time right and so um we could build a system with our discretionary time so poor how poor people make money is by exchanging time for money why do poor people make money poor people make money for one reason so if you look at if you look at my Concept in trash man to cash man of the financial house right you've got you've got your income window right most people get

their income from their job this is the trade time for money so that's these people so they income comes into the income window then you have your IPA window and then down here you have your outgo window and then up here in here you have your um over here you have your WL window so IPA what's that stand for incom producing assets poor people don't have any income producing assets that's why they're poor they are their only asset wealth reducing liabilities well they don't have good enough credit to have a lot of wealth reducing liabilities

so don't really have a lot of those either maybe a car maybe they own their own house but the primary purpose of a poor person making money is to pay bills I do you like your job what do people say what do poor people say when you ask them do you like your job I got to pay the bills think about it that's what I used to say you got to pay the bills so it doesn't matter if I like my job or not I got to pay the bills so I'm going to go do

this work that I don't want to do because I got to pay the bills Okay cool so this is how poor people make money this is how um why poor people make money and then when it comes to borrowing money how and why do poor poor people borrow money this is really sad and I know this because I used to be poor how do poor people borrow money poor people when they borrow money they borrow poor people borrow money I'm poor people people borrow at high interest rates in fact I'm just gonna put that at

high interest rates H iir High interest rates and that looks like a b but it's an R trust me okay so high interest rates and they they borrow money to buy depreciating liabilities and often time because they don't have generally don't have good credit they get intro credit cards with higher interest rates like 24% or higher 28% or I don't know if any of y'all remember this like if you have bad credit you can start building your credit by I don't know if any of y'all remember that get the Finger Hut Catalog you order some

stuff on Finger Hut anybody remember that anybody anybody on YouTube remember that and so what happens is you you buy stuff on Finger Hut so you could so you could you they they they' sell it to you on credit charge you an insane interest rate but then you start developing some credit and then you can get a Sear's card or JC Penney's card or Boscov's card if you live in Harrisburg Pennsylvania right and so you get your department store cards and then all of a sudden you work up and you get a Visa card it's

got an $800 limit on it and you're like so excited cuz I got a Visa card and then you go buy a bunch of junk and then you're late and your credit's still bad so credit borrowing money for poor people is generally a trap because they don't have a strategy for borrowing money they're just borrowing money to buy stuff that they don't have the money for not a good idea this is how poor people make money this is why poor people make money this is how people borrow poor people use credit and why they use

use credit is because they want stuff that they can't afford to buy okay well that's not that's not where you want to be like you don't want to be buying stuff out of a Finger Hut Catalog no I mean no shade to finger hut I mean they gave me my first opportunity to buy stuff on credit okay so um so you don't want to use the finger hook cat catalog so middle class people let's look at middle class people why and H like how why and how do um or how and why do poor PE

middle class people borrow money so middle- class people make money by same thing they either sell their time right selling their time just like and they may have they may have some Investments some small Investments middle class people don't have a lot of Investments some small Investments they might invest in um a little Airbnb or they might invest in they might invest in um a couple of stocks and they're saving towards retirement the the objective of making money for middle class people Financial house again they got their income window from their job right and they

have they have a very small IPA window they got a couple of investments in there and they have really good credit they pay their bills on time so then they can buy wealth reducing liability ities that make them look rich because then at least people won't know that I don't have money so I'm going to buy a more expensive car than I need and I'm going to live in a more expensive neighborhood than I need to live in and I'm going to buy designer clothes I'm going to do all of this on credit and so

what happens with middle- class people and then you have the outgo window is they borrow money to buy stuff and they pay their bills on time and so they accumulate a bunch of stuff that becomes worth less over time and then that goes out the door in the form of bills so poor middle midle class people are focused on building their credit to buy things I there's like I use credit cards I don't use debit cards I'm going to get to that strategy in a minute I'm going to show you when I show you why

the reason rich people borrow money is very different than the reason poor people borrow money okay so um so this is why this is this is why this is this is how they make money they sell their time and they might even get a salary maybe they're not selling their time by the hour hour they may have a salary right now they make even less money than if than they'd make if they if they had a um if they were selling their time for money and so then what happens is they do this so they

can build up a lot of credit they borrow a lot of money some of them still have college debt so they might be a little bit more educated but they're going to take it's going to take them 20 years to pay off their college debt and so they're working all this time for this magic time in the future called retirement I don't even know I I'm I'm not I'm not exaggerate when I say this retirement I don't even know any rich people who desire to retire like I'm 63 years old are you going to retire

in two years retire and do what like what am I going to do when I retire sit around do nothing like why is that inspiring to people like why does why is that an aspiration I want to get to a place where I don't have to work for money well get to a place where you don't have to work for money but like don't wait to do that you can start you can stop working for money now and start working for other reasons now like I work to build relationships I work to build systems I

work to learn new skills I don't work for money the money is just a byproduct of creating a lot of value for other people okay so so so poor people middle class people they borrow money and then they pay their bills on time but they don't they don't ever really just pay off their they don't like I'm Not Dead free but I pay my credit cards off every month I have no desire to be debt free in fact in 2025 I fully expect to accumulate hundreds of millions of dollars of debt and I know like

when I say that that's like what did you just say yeah that's what I said for a whole bunch of reasons wait till I get to it um so so that's middle class people but let's get to the part that we've all been waiting for rich people and debt why how do rich people borrow money rich rich people debt why do rich people borrow money well first of all before we do that let's talk about how rich people make money how do rich people make money well we don't make money by selling our time okay

and and we may sell some of our time but it's not what we do to create wealth so how do rich people make money here's how we here's how here's here's how we create money and here's why we create money how we create money is by creating value for others now that may sound kind of esoteric so I'm going to break it down to you so what do I mean when I say creating value for others first of all you can't create value for someone until what you know what's valuable to someone so the first

thing I've got to do is I got to discover what's valuable to you if I know what's valuable to you then I've got at least got a chance of creating value for you right so what creates value what like where do values come from like where do your values come from the people in this room the people on this YouTube watching me on YouTube right now where do your values come from there are three places values come from that come to mind like top of Mind are you ready number one values come from past perceived

voids past perceived voids create present P pursued values past Reed voids what does that mean that means something that you felt like was missing in your past you desire that that's valuable to you because you always desired it but never had it so I remember um when I was a kid my good friend Stan um his brother Lonnie had a 68 Pontiac GTO I love that car I wanted to buy it from him he wouldn't sell it to me I love that car so much I'm like I want a ponti 68 Pontiac GTO this car

I've always wanted I know that sounds crazy like why would you want a 68 body you know cuz you drive down the road it does this thing you know it's crazy okay um that's how it feels when you're in the car it's like it's like a floaty boy right and and so so I found one on Facebook Marketplace 1968 Pontiac convertible Pontiac GTO convertible and I bought it got my dream car so exciting why and I drive it it's the worst driving car I have but I still like driving it I like to put the

so top down on a nice cool day and drive around and go to the golf course in drive to the restaurant in or whatever it's like it's like oh man that car is so cool but I already know it's cool I knew it was cool before anybody told me why because it was a past perceived void for me uh you all tracking so if somebody feels like something was missing in their past have you figure out a way to create that and present it to them in the present they will more than likely say yes

but you have to care enough about their past perceived voids instead of using them to fulfill your past perceived voids you have to stop thinking about yourself long enough to create value for somebody other than yourself are y'all are y'all with me okay so so so creating value for others past perceived voids is one place that value comes from where's another place value comes from it comes from present perceived virtues what does that mean things that people in the present perceive as good or virtuous that's valuable people who go to the gym you know why

they go to the gym and pay for a gym membership because they perceive Fitness as value as a virtue in the present so therefore a gym can sell them a membership like I'm 63 and like my cells don't regenerate as fast as they used to when I was 33 so when I injure myself I go to my regenerative medicine doctor and I might get like a $50,000 treatment well why would you pay $50,000 and insurance doesn't cover why would you why would you why would you buy a $50,000 treatment so that your shoulder stops hurting

because not having pain is a present perceived virtue for me are y'all tracking okay and so so people will spend money for in the present things they are value that they value in the present okay so if I want to create wealth as a if I want to be wealthy I have to be I have to be empathetic enough to care about what other people value and then I have to be perceptive enough to conceive what other people value and then I've got to be creative enough or productive enough to create what other people see

perceive as valuable are y'all tracking and so what I do is I'm like oh they would like to have this result I know how to get that result I'll just show them how to get that result and let them pay me are y'all tracking so wealthy people create value for others that's how that's how we that's the primary way we create value if you think about like like Elon Musk created the Tesla truck now I don't want an electric truck I don't want an electric car but a lot of millions of people do so many

people wanted a a cesla a Tesla cyber truck that Elon said tell you what you send me $100 and put your name on the waiting list you can have your money back if you decide you don't want it but you put your name and millions of people send $100 you get you get you get a million people to pay you $100 that's $100 million if you get 10 million people to pay you $100 man that's like a billion dollars that's probably enough to build a factory to build a bunch of Tesla trucks even if a

bunch of people cancel right so he created something that people perceived as virtuous in the present electric vehicles and so and and because so many people believe that that's virtuous or good right now make made him the richest man in the world okay so creating unique uh creating value for other people is how rich people create debt or create wealth okay unless of course there's some kind of shady underhanded illegitimate criminal and there are people like that too but that's that's not who I'm talking to I'm not you have no desire to be those kind

of people and if you did I don't have the ability to teach it to you so that's not who I'm talking to Okay so so we create wealth we we create value for other people um another way we create wealth is making our money work work what do you mean making your making our money work so we like we invest money so money can work for us when we're not working we build systems and invest in things that can make money for us when we're not working see poor people middle class people can only make

money when they're working I can make money when I'm not working why cuz my money that I have invested never takes a coffee break never goes on vacation never takes time off never gets sick it just keeps on making money how many y'all tracking way back me my peeps okay and so what we have to do is we have to figure out a way how can I get my money working for me I um uh Wade B cook I got this phrase from him the reason you have to have a job is because your money

is unemployed get your money out of the unemployment line and make it work for you you worked for it make it work for you okay so why do rich people make money well that's how rich people make money why do we make money here's why we make money the primary purpose like when I'm when I'm building my financial house so we have our income window and our income comes from our creativity we come up with these ideas right and that idea makes money and then so if we have our I'm going to change that we're

going to we have our IPA window our income producing asset window this is our income window and then we have our wealth reducing liabilities window and then we have our outgo window okay poor people when they get money it comes down here and goes out there middle class people when they get money it comes down here and then goes through there and then goes out there rich people when we get money the first thing we do with it take that money and put it over there take that money and put it over here when I

first put that money over there nothing happens this is why that's the number one reason I believe most people never get rich because when you first start you know we don't put all of our money over there I mean when we when you first get started you'll some of your money will go down here and some of your money will go down here but if you'll put some more money then you get some more money put it over there you put some more money over there and eventually one day all of a sudden this thing

starts giving this thing starts giving it back to you and it says oh okay going to do that I'll do that and then you keep doing this and then the amount that this window gives you this window starts getting bigger and it starts getting bigger and it starts putting more money back here and eventually this window gets so big that not only does it give you money but it also pays all your bills it also pays off all your credit all your debt this is how rich people think this is why we make money we

make money to feed our incom producing asset window so our incom producing asset window can pay all of our bills and pay off all of our debts and provide us income that's like now most people never think about this right but this a like this when it comes to money this is all I think about how can I make make money to go buy something I don't ever want to make money to buy something that doesn't make any sense to me if I want to buy something I'll go come up with a new idea I'll

let that new idea make me some money and I'll take some of this money and go buy some but the primary objective of every all the cash that comes in here the primary objective is to put it over here so it keeps on and this window starts kicking off so much cash that it's it it eventually this window becomes so big that it makes all of the other that window like I mean not that window but this window and this window they become nebulous they don't matter they're so insignificant they're they're like less than a

mosquito bite that's the that's why we make money now why do rich people borrow money cuz that was confusing to me man I remember first time my friend um he's um he grew up in a family where they had owned an oil field and so the guy's Rich he said yeah I'm borrowing money to do like you're borrowing money what are you borrowing money for you have money well see what rich people realize is the money that we are putting in our incom producing asset window this this money that I'm putting in this window makes

so much money and the wind it makes so much money that it doesn't make sense for me to take the money out of here to buy something so I can either take money out of my income producing asset window to go buy something or I can borrow money from a bank so let's say I borrow the money from a bank and let's say the interest rate is terrible let's say the interest rate that let's say I'm borrowing money to buy a car and let's say I've got to pay 7% That's a crazy interest rate for

a car right 7% but it's 7% simple interest it's 7% per year so let's say it's a $100,000 car okay so if I'm borrowing if I'm borrowing $100,000 to buy a car right and that $100,000 I'm paying $7,000 per year in interest well the first year because the last year I'm also paying down the principal so the next year the the amount I'm paying in interest is going to be a little less and the year after that it's going to be a little less and the year after that it's going to be a little less

but if I have $100,000 and invested so I I did I not because of this but I did some calculations just on the returns of my crypto investments in the last two months by the way if somebody reaches out to you from Instagram or YouTube or Tik Tok and they say they're me and they're selling you a crypto thing it's not me it's somebody pretending to be me I'm like I don't reach out to people I don't inbox people and offer them sales some stuff for sale so don't be get scammed by somebody who's imitating

me okay cool okay so so if but if I take if I I did some I did some research and here's what I figured out here's what I found out my invest my crypto investments in the last two months has made me about 6.5% per month so if you multiply 6.5 okay let's just go ahead and do that and and by the way this is not simple interest this is compound but we're going to we're going to treat it as simple um if you multiply 6.5 and I'm going to do it here because my phone's

over there I don't want to walk off camera see a calculator yep give me the calculator so if I take 6.5 and I multiply it times 12 that's 78% that I'll just that my crypto investments will make me this year which means if I take money out of my crypto account and $100,000 to pay for that car instead of using the bank's money instead of it costing me $7,000 in interest it cost me an loss of uh 78% so 78% of $100,000 it cost me $78,000 that I would have made so I'm now $71,000 worth

off because I use my money instead of the bank's money you say my what are you saying here's what I'm saying I'm going to put in a simple sentence for you ready rich people borrow money because we can always use the bank's money cheaper than we can use our own and that's why we don't focus on getting out of debt so that's one reason we borrow money one reason we borrow money is because we can use the bank's money cheaper than we can use our own another reason we borrow money is because when I borrow

money now this is now when I when I talk about when I talk about borrowing money now now I'm talking about a different kind of debt I'm talking about I'm talking about I'm talking about Consumer Debt credit card debt why do rich people use credit cards when we have cash why would I use a credit card when I have cash that doesn't make any sense why do we use credit cards the reason we use credit cards is because credit cards have these things called points now what are points points Point points are a fancy word

for dollars points are a fancy word for dollars what does that mean points are a fancy word for dollars so I'm going to look at it now I know that in the last 30 days so I paid my American Express card off last month okay I paid it off last month and the month before that and the month before that and the month before that oh and the month before that okay just want to make sure you understand so um I literally right now have a balance on my American Express card of $141,300 pay it

off and it's due it's due on the 22nd I'm going to pay it off before the 22nd say why would you borrow that much money here's why because they give me these things called points and I and I use my points all the time right now just on that card I have 3,414 th000 points how much is that $34,000 I can go on Amazon and buy $34,000 of whatever I need for my business and it cost me zero because I use points instead of cash you have a Marriott card you put points on your Marriott

card you can go stay in a suite that's that would cost you $116,000 for free a rich people we borrow money because it makes us money if I would have spent that same money if I would have spent that $141,000 by writing checks or by putting it on a debit card I would have earned no points but if I earned two and a half points and I don't know if it's two and a half points or whatever it is might be 1.75 depending on what let's just say I earn 1.75 points on $141,000 how much

money did I make and you're say but you didn't make it my they okay I'm gonna let you believe that oh by the way I forgot to tell you when I borrow that money on my American Express card and they charge me a fee I get a tax deduction for that fee and because everything that I bought on my American Express card is for my business I get a tax deduction on the whole 141,000 okay yard tracking but if if I uh say what you know what myin let's take that 141,000 we'll just make it

even 141,000 times 1 Point 7% I me I made 200 that made me $239 you say but it's only $239 right that's the difference between how rich people think and how poor people think so you think it's only $239 I think it's only another $239 all tracking now the other reason we borrow money is sometimes we borrow money we borrow money as income what does that mean when you borrow money as income if I own a real estate property I can withdraw I can borrow against the equity of that property I can use that Equity

as cash and I pay zero tax on it say but don't you have to pay it back I do but the tenants who rent the property pay off the debt wait so you're telling me that you can borrow money use it as taxfree income and somebody else pays it off yes and every time I borrow to buyer real estate every time I borrow a to buy real estate I get appreciation what does that mean the property that you bought becomes worth more over time why because the money in your pocket becomes worth less over time

so the house that I bought in 2016 that I live in right now that house that I bought in 2016 for $45,000 if I wanted to sell it right now but I'm not really interested in selling assets but if I wanted to sell it right now I could sell it for over a million dollars which means the money that I paid in mortgage payments over the last um 20168 years I'd get that back and a whole bunch more if I wanted to sell it but I don't want to sell it why it's an asset why

would I want to sell it I can borrow against it and I can use the money that I borrow against it as income oh oh by the way I didn't even tell you the best part I can rent that house to my business and I can use it as a podcast Studio wow and I can use it as a YouTube set and I can build a YouTube channel and the YouTube channel makes enough money to pay the rent to me which I use to pay the mortgage and it just becomes a cash machine it becomes

a Perpetual cash machine are are y'all seeing the like poor people are afraid of debt middle class people are used by debt rich people we use use debt to create wealth so so we borrow we borrow as income we use debt as income borrow as income it changes the game but poor people are afraid to but but how much are the payments stop asking how much stuff cost and start asking how much is stuff worth it'll change the game for you change the game for me so borrows income okay so I'm I'm going to give

you one last play I'm going to give you one last play for those of you who have a house and you have a mortgage I'm going to give you the play this is this run this play it's called I I did this in 2008 the first time a HELOC what's a HELOC home equity line of credit this is the most important word in that whole thing line line it's not a loan it's a line what's the difference between a loan and a line a loan is a oneway door you can put money in it but

you can't take money out of it like you borrow the money when you put money in the pay off that loan you can't come back and say hey that money I paid you last week I want it some of it back but if it's a line you can put money in it and you can take money out of it in fact when you get a home equity line of credit they give you this really cool thing thing called a what a checkbook some of them will even give you a debit card against your equity in

your house you say why would I do that because it makes sense I if I so here's what here's here's what I would be willing to do if I had a if I had equity in a home let's say you've got um two $100,000 of equity in a home the bank will give you a line of credit up to 80% of that $200,000 worth of equity so they'll give you a home equity line of credit for $160,000 okay if you if you have that much if you have like let if you let's say you only

owe 100,000 on the house you owe 100,000 they'll loan you 60 80% of the value so now what you do is you take the home equity line of credit which is one uh you get the whole 160 you pay off the 100,000 so in fact I going to draw it for you so you got your house the bank owns 100,000 of the house you own 160,000 of the house 160,000 of the house the bank says we will give you a line of credit for the part of the house you own you say okay I'll take

it so you take the 160,000 and the first thing you do is you pay off the 100,000 so now how much do you have left you have $60,000 and you paid off your mortgage but you got access you have access to $60,000 so now let's say you make take home I don't know I don't know what people make but let's just say you make $5,000 per month if you make $5,000 a month and you take the $5,000 a month that you make as income and you pay down you put it into your home equity line

of credit so now you pay that $5,000 in so now some of it went to interest so let's just say now you owe 156,000 let's say $1,000 was that went to interest right so you ow1 156,000 okay so 156,000 is what you owe but now now you have bills but you took your whole paycheck for that month and you put it into your home equity line of credit let's say your bills are 3,000 okay so you take 3,000 and you pay your bills so now that takes this back up to 159,000 right but then the

next month you pay the 5,000 in again and it takes it down to uh50 156,000 actually it' be less than that because you'd have some principal let's say 154,000 and then you just keep on doing this and what happens is because you paid off this loan this debt here the money that you're borrowing the money that you borrow out of your home equity line of credit to pay your bills every month this $3,000 that you borrow every month but every but every month you're also taking this $5,000 and you're paying down this Equity what happens

is you end up paying off this mortgage instead of it taking you 10 more years to pay it off it might take you four more years to pay P off so you're using debt to eliminate you're using a home equity line of credit to eliminate your debt now you want to take this to a like the ultimate extreme for like this is the ultimate extreme you ready when you buy your house buy it as a duplex and so you live in this side your this is your house this is your tenant's house and then tenant

pays the note and that note pays off both properties so you get to live here for free and then when you borrow home equity line of credit now you don't even have a mortgage anymore you just have electric bill gas bill Insurance Etc this is why rich people borrow money this is why I've had a home equity line of credit since 2008 and I use my home equity line of credit to pay down debt faster it'll change the game for you in fact here's why Banks want you to refinance your house at a lower interest

rate you think it's you think they want you to refinance at a lowest interest rate because they care about you having a lower payment yeah we want to help you out we're going to give you a lower pay that's that's the sales pitch that's the that's that's the large print that giveth do you'all want to know what the small print that taketh away says when you when when you refinance your house at a lower interest rate you just started the whole 30-year amortization process period over again and the majority of the money that you pay

in the beginning of the loan the majority of it goes to interest so even though your interest rate is lower and you're making a smaller payment you're paying them more interest over time than you would have had you not gotten a lower interest rate with a small had you not refinanced your house and got lower so instead of getting a home equity loan or instead of refinancing your house get a home equity line of credit and use your line of credit to pay your debts and your bills and then you and don't use to buy

junk cuz then you defeated the purpose use your home equity to buy things that make you money the last thing I'm going to say is this the primary just like when we borrow money just like when we make money the primary purpose that rich people Rich the primary purpose that rich people use to borrow money is rich people borrow borrow to make money why do rich people borrow to make money to create to create wealth faster when I bought this building in 2022 I could have paid I could have written a check I could have

just wrote him a check why would I do that why would I take to pay off a building so I can but I'm debt free and when the bank said we'll loan you money to pay for this building you only have to pay us five instead of paying the whole 625,000 why just pay us um however much I paid down I think I paid $200 something, down and then um pay us $5,000 a month okay well our two YouTube channels that we produce out of this studio this month will make a $70,000 that's is what

this is what I mean when I say we use so whether it be in your business or in your in your personal finance if it's the financial House of your business or the financial House of your um personal finances the velocity of this window and the velocity of this window need to be faster than the velocity of this window and this window now I've said this before I'm going to say it again wealth is measured more in time than it is in money let me say it again because some of y'all didn't get it wealth

is measured more in time than is in money what does that mean my well if you make a million dollars are you rich it depends what does it depend on how long it take you to make it if you make 25,000 a year and you work for 40 years you made $1 million are you rich no you're not rich but you made a million dollars how are you how come you're not rich because it took you too long you make that same million dollars in a year are you rich yes you are now you ain't

Bill Gates rich but you're rich a million dollars a year you're rich trust me it's $84,000 a month you're rich you have to be really really dumb or really really extravagant to blow $84,000 a month okay so 100 a million you make a million dollars you're rich if you do it in a year you're if you do if you make a million dollars a year you're 40 times richer than that person 40 times what is time time is a measurement of time 40 times wealth is measured more in time than it is in the both

the person who makes it in one year and the person who makes it in 40 years both made the same amount of money how come this person's richer because they made it faster if you make a million dollars a month you're 12 times richer than this person and 480 times richer than that person not because you made more money but because you made it faster so if that's real and I believe it is then the secret to you creating wealth is not you making more money it's you making money faster in fact I submit to

you that everybody listening to me right now if you make any money at all you make enough money you just make it tooo slowly what does that mean well see you spend money all day every day right because right now you're spending money I'm not spending money right now if you live in Florida and you have an air conditioner in your house the sun is out it's hot out there you're spending money cuz your air conditioner is running and you have a refrigerator and that's running and you might have a sprinkler system and that might

be running you spend money all day every time you flush a toilet you spend some money money down the toilet okay every time every time you spend money every time you flush a toilet every time you open your refrigerator door every time your air condition comes on every time your heat comes on every time you drive your car you are spending money all day every day and you think it's okay for you to get paid once a month or once a week or once every two weeks and you're not willing to do something to increase

the velocity with which you get paid that's why you're stuck because you're focused on making more instead of making the same amount faster if you take your annual income you start making that every month you're you're 12 times richer you take your monthly income start making that every week you're four times richer than you used to be and so don't think so much about increasing the volume of your wealth creation think more about how do I increase the velocity of my wealth creation because if you create if you increase the velocity of your wealth generation

the volume of your wealth creation over time will automatically get bigger that changes the game for you and this is what I mean when I say Rich debt poor debt there's a difference between why rich people borrow money why and how poor people middle class and rich people make money spend money and borrow money so I hope you will like like sit down with this video with a notepad and a paper in your hand make some decisions based on this new awareness set a new intention based on this new awareness that you're G to start

getting richer today because you're going to start doing things with your money that make dollars and not just cents thanks for watching I appreciate y'all being here stay blessed by the best and we'll see you in the next video bye for now rich rich