Jim Rohn Have A Solid Plan (For Teens and Adults)

hi everybody I'm Jim ran uh what a pleasure it is for me to come and uh visit with you for just a few minutes here today uh tell you briefly a little bit about my story and uh share some ideas that might be beneficial uh I've lectured in some uh High School classrooms in uh California and Arizona and some universities and colleges uh Pepperdine University uh San Diego State Arizona State University and so I've had a chance to talk to uh kids that are interested in themselves and interested in their future interested in uh America

interested in what they can do with their lives and listening to uh stories that might be beneficial and I don't have a chance to you know visit all of the schools and universities around the world so this is a great chance for me uh by video to have a chance to tell you my story uh just briefly let me tell you my story I grew up in Idaho Farm country uh my father still lives on the Old Homestead where I grew up Southwestern Idaho he'll be 91 his next birthday and I'm very proud of him

uh I went to high school I graduated I went to college one year halfway through my second year I decided I was smart enough so I quit one of my major mistakes I should have stayed in school but I thought you know heck I'm smart enough to get a job and back then I thought you know that was it if you're smart enough to get a job what else would you need found out later a big mistake but anyway I uh quit school at age 19 went to work little while later persuaded a beautiful young

lady to marry me with a lot of promises and fortunately for me we got married little while later I started my family and I'm out there working hard doing the best I thought I could but year by year I kept falling a little further behind uh you know buying a little more than I could conveniently pay for on time and uh the creditors are finally starting to call saying hey you told us the check was in the mail I'm not feeling at all good about that about age 25 I've got pennies in my pocket I've

got nothing in the bank and uh way behind on my big mouth promises to my family and wondering what could I do to make my life better uh I was willing to work hard that was not my problem but I just wasn't making the progress I wanted to make and then good fortune came my way sometimes it's difficult to describe Good Fortune why something remarkable happens to you at a particular time uh one of my friends says well hey things don't just happen things happen just and maybe that's it I don't know but my good

fortune was I had a chance to meet a very wealthy man his name was Mr scha Mr ear scha a friend of mine had gone to work for him and he started telling me about this man he said you got to meet this man he's rich but he's easy to talk to and he's got a remarkable philosophy of life and he kept going on and I thought well I've got to meet this man so shortly after that I had a chance to meet this Mr cha and I was impressed he was rich uh he was

easy to talk to uh within a few minutes I was dazzled and I said to myself I would give anything if I could be like that rich and easy to talk to what would it take and then I thought if I could just get around somebody like him and if he would teach me and Coach me uh I would do it all and that was my good fortune a few months later this wealthy man Mr scha hired me and gave me a job and I went to work for him and I spent the next 5

years in his employe and then unfortunately at age 49 he died but I got to spend five years with this remarkable man his last five years of his life and the first five years of my new life and my dream came true during that fiveyear period this man took the time to teach me and Coach me he taught me the books to read he taught me the disciplines and he taught me the skills and he taught me the changes to make in my language and personality and the things he shared with me during that five

years uh changed my whole life changed my income changed my bank account changed my future uh I've never been the same by the time I was 31 years old I was a millionaire so he taught me economics as well so how lucky can you get to meet the right person at the right time who takes the time to share with you ideas that can change your life a lot of rich people right don't take the time but he did and he also had the ability uh some people want to share their experiences but they don't

quite know how to say it but he had it all and he used language that I could understand and those ideas greatly affected my life I wish he was still alive today if he was I'd be calling him today one more time thanking him for the time he spent with me sharing his life and his experiences that so dramatically affected my life then how I really came to be invited to speak to you today 30 plus years ago I was living in Beverly Hills California and a friend of mine one day said Jim you've got

to come and tell your story to my service Club he belonged to the Rotary Club and he said I know your story Idaho Farm Boy makes it to Beverly Hills but he said I know my club members would love to hear your story would you come and and at our breakfast meeting and tell your story and I said okay so I arranged a little talk went and shared my story that morning and guess what they liked it and my phone rang another club called and said would you come and tell us that story my phone

rangs another club call said we've heard about your story we have a luncheon meeting would you come share your story first thing I know I'm spending a little piece of my time uh giving these breakfast talks and lunch and talks and then one day a man man who heard my talk about three times said would you come and talk to my management and salespeople he said I've got this little company going and if if you he said if you would spend some time talking with my management and salese I'd be happy to pay you and

I thought wow wouldn't that be something uh tell my story and my experiences and get paid he said I'd be happy to uh little did I know that was the beginning of a whole new brand new adventure for me in Shar ing my story in speeches and talks and seminars and lectures and now this business become one of my most flourishing Enterprises takes me around the world uh I went to many countries just this year had my largest audience early this year in Spain 12,000 people uh 10 different languages being translated at the same time

the whole audience with the earphones on it's interesting when you lecture with multil languages you you know when you hit the punch line you know the Spanish laugh first and then the French get it and then finally the Italians get it and last the Germans finally get it and then I say hey the Germans finally got it I guess we can continue you know some languages take long longer to translate than other languages but what an exciting adventure for me I was in Israel this year I lectured in France uh my first trip to Prague

Czechoslovakia uh Lisbon Portugal uh last year I was in London lecturing happened to be there the same night pavati was singing in London so big dilemma for the people in London shall we go see Jim ran or shall we go listen to pavati well I must admit he had more people than I did like 150,000 more he did a free concert in Hyde Park and they expected a quarter of a million but only 150,000 showed up because it rained and uh they all got soaked from Prince Charles on down but they sat in the rain

and listened to pavati I would have been happy that evening right to cancel my seminar and go sit in the rain and listen to pavati anyway he and I have agreed now not to appear in the same city on the same day anymore uh not really but how exciting for me to be able to travel all around the world and share my story and then especially to have this chance today to come and visit with you and when I get a chance to speak at a at a high school class or a university class I'm

always excited about it I'm limited in time so I wanted to use this way to come and share my story with you and some ideas that might be helpful in your career for the future in your now busy life as a student and then wherever you find yourself in the years to come some of the things I'm going to share with you I want you to remember for a long long time because the ideas I want to translate for you drastically affected my life and if I can share now and affect your life and you

write me a letter or tell me in person someday Mr ran I listened to your video and I watched it carefully and sure enough some of the ideas that you shared greatly affected me and here's what's happened to my bank account here's what happened to me in school here's what's happening to my future that'll give me great great satisfaction so the man who shared with me ideas that changed my life I want to share with you three of those basic subjects uh when I met him I was 25 years old and uh when I first

got acquainted with him I used a lot of excuses as to why I wasn't doing well and uh he said well tell me a little bit about your story and I told him you know I was behind on my bills had pennies in my pocket and nothing in the bank but I was embarrassed about being behind on my big mouth promises to my family and then he gave me one little simple phrase that really forever changed my my life and here's what he said Mr ran if you want the future to change for you you've

got to change and he said if you don't change the next six years of your life is going to be just like the last six you'll still be behind on your bills you'll still be behind on your promises but then he gave it to me in the form of a promise when I was 25 years old I've remembered it all these years and I've shared this promise now with probably over three million people in the last 30 plus years and it's going to be valid for you so listen carefully to This Promise my teacher said

to me young man if you will change everything will change for you if you will get better everything will get better for you what a clear message that was for me he said if you'll change your philosophy if you'll change your habits if you'll refine your thinking if you'll change and accept some new disciplines if you'll turn the corner where you've been in the past go for a new life for the future he said all kinds of remarkable things will happen for you if you will change before I met Mr scha I used to cross

my fingers and say I sure hope things will change I was hoping the government would change and the tax structure would change and that my boss would change and pay me more money uh I was hoping that you know economics would change and prices would come down and I was hoping that circumstances would get better and then I discovered from my teacher that those things are going to continue the same in fact all of those things that happen to us is kind of like the wind that blows and the wind blows on us all in

fact in America especially the last 6 and a half thousand years of recorded history we've got probably the most favorable wind that's ever blown economics and circumstances living in a free country democracy and free Freedom uh an excellent economy sure we struggled at times but compared to the rest of the world in the last 6 and half thousand years we've got the best wind ever but if you just let the wind blow I'm telling you it won't take you where you want to go all of us must use this wind to take us to the

dreams we've got to the equities we want to the money we want to the income we want and to all the things we want our life to have this is where we want to go we've got a good wind but we must not leave our future just to the wind just to the economy uh just to the structure of the way things are happening today here's what we must learn to do and that is set a good sale and if you'll learn to set a good sale and that's what my teacher taught me in those

early days he said Mr R the wind is going to blow however it's going to blow politics are going to be politics and the econom is going to be the economy and however it turns out that's the way it's going to be be what you must learn to do is not to wish for a better wind that's naive the key is to wish for the wisdom and the skills and the learning so that you can set a better sale and so that's what I did at age 25 I went to work not on the economy

I went to work not on the community I didn't go to work to try to change the government I didn't go to work to try to change my boss or the company I didn't go to work to try to change circumstances I went to work to try to change myself and I picked up that promise my teacher shared with me that if I would change my income would change if I would change my bank account would change if I would change my future would change and sure enough his promise came true for me the first

six years of my economic life I wound up broke those pennies in my pocket nothing in the bank behind on my promises the second six years of my economic life I wound up rich but interestingly enough the second six years of my economic life the government was about the same and the economy was about the same you know the companies were about the same what they paid was the same uh circumstances around me were the same you know my negative relatives were the same but I was not the same that's how my life changed and

that's how things started working for me uh changing my life all those years ago so that's what I wanted to share with you to begin with this beginning of what Mr scha shared with me that if I wanted my life to change this was what I was going to have to do and so he broke it down into three subjects that really made an impact on my life and I want to share those with you the first subject he called personal development and the second subject he called setting goals and the third was how to

become financially independent and I'd like to give you just a few Clues from those three major subjects that that so dramatically affected my life and uh let's get started the first one is personal development now in illustrating personal development Mr scha my teacher started with money you know money is not the only place to start in talking personal development but it's where he started so let me share the thoughts he shared with me back then let me share them with you here's the best lesson I can give you on economics it's very simple we get

paid for bringing value to the marketplace that's about as simple as I can put economics we get paid for bringing value to the marketplace now it takes time to bring value to the marketplace however we do not get paid for time so we cross that out mistakenly the man says I'm making about $20 for an hour not true if that was true you could just stay home right and have them send your money so that's not true we don't get paid for time we get paid for Value brought to the marketplace now since that's true

here's one of the key questions of my talk to you today is it possible to become twice as valuable to the marketplace and make twice as much money in the same time is that possible the answer is yes could you become three times as valuable as you might be right now to the marketplace and make three times as much money in the same time and the answer is yes five times 10 times of course America is unique it's a ladder decline it starts down here let's say at $5 an hour and it keeps going up

top income last year $80 million the guy who runs cocacola now that's a heck of a ladder it's why everybody wants to come here right the boat people are not headed for Vietnam uh people haven't plotted in scheme for 50 years saying if I could just get to Poland everything would be okay not true everybody wants to come to America and the reason is because we've got the best wind ever blowing in our favor we've got the best Economic Opportunity anybody's had in 6 and a half thousand years and all you have to do is

understand it and take advantage of it now there's some key questions to ask here why would the marketplace pay someone only $5 an hour very simple answer they're not very valuable to the marketplace now we must underline to the marketplace this person might be a very valuable brother yes member of the family valuable yes valuable member of the Church of course valuable citizen of the country yes valuable in the sight of God no doubt we're all of equal value in the sight of God but if you're not very valuable to the market place you don't

get much money you say well it shouldn't be that way well then you got to start your own country you know this one's been in process for 200 years and this is the best we've been able to come up with so far but here's the key you don't have to stay here now there was a big debate in Congress last year that this $5 was not enough should be six should be six should be six but we don't need legislation six is already on this ladder The Next Step Up you know if you work for

McDonald's they'll pay you $5 an hour to take out the trash if you whistle while you take out the trash they'll pay you $6 an hour so we don't need that legislation you need just need to take lessons on how to whistle have a good attitude now as you begin to climb this ladder why would the marketplace pay some people $50 an hour answer evidently they must be more valuable to the marketplace 10 times more valuable and is that possible for someone to be 10 times more valuable and earn $50 an hour instead of five

the answer is yes that's what America is all about now why would the marketplace pay some people $500 an hour evidently this person must be much more valuable to to the marketplace that's what's important to understand to the marketplace and would the marketplace pay one person 80 million doll for one year's work and the answer is of course if you helped a company make a billion dollar would they pay you 80 million I'm telling you it is possible and that's why America Is So Exciting that's why this financial ladder is so exciting it's possible for

all of this to come true for all of you no matter where you start as a student in school just getting started out there in the workplace this is all possible for you now Mr scha gave me the clue on how to climb this ladder as high as I wanted to climb now we're talking primarily economics here there's a lot of other ways to become valuable to your family valuable to your friends valuable to the community valuable to the team right valuable to the to the uh team effort valuable to the concert but here's what

he said to me in climbing this ladder economically all you have to do is work harder on yourself than you do on your job once I heard that it made sense to me I kept hoping that everything else would change around me found out that if I went to work on myself worked on my skills worked on my language if I became better than I was each year if I grew in skills and language and vocabulary and competence then I would become attractive to the marketplace not very long ago a company called me and said

Mr R we're expanding internationally we'd like to have a bit of your expertise to help us uh would you give us a bit of your time we'll add some Millions to your fortune and I said okay and I thought later isn't that interesting they would call me then my second thought was of course they'd call me who else would they call I can get the job done now what a contrast for me Farm Boy from Idaho raised in obscurity parents of modest means broke when I was 25 how come I would get a telephone call

and someone offer me a lot of money to help them in expanding around the world simple answer evidently something happened to me between age 25 and where I am today and I can tell you where it all started from my teacher Mr scha who said to me we don't have to change what's going on out there that's the wind that's blowing all we have to do is change what's going on in here and now there's several ways to do that on personal development and let me give you those ways here's the first one we must

learn from personal experience pretty simple learn from what happens to you take a look back over the last few months did you make some mistakes how could you correct those for the future take a look back over the last year have you done it right or done it wrong let's correct it for the next year learn from your personal experience Mr cha asked me when I first met him he said Mr R how are you doing you've been out there now six years and I said I'm not doing very well he said I suggest you

not do that anymore what a simple Swift analysis to my situation he said if you keep doing it the next six years will be like the last six you don't want that to happen let's make the changes so learn from your personal experience now here's number two why I came to share this video experience with you today and that I call it op other people's experiences that's me other people that's your teacher other people that's your friends and colleagues other people the people you meet that can pass along to you their experiences what's happened to

them the mistakes they made how they corrected them how they changed their health and changed their bank account and changed their income and change their future that's it other people now there's two kinds of people to learn from one is failures it's too bad failures don't give seminars right that would be valuable bring your notebook have them tell you how they lost it all and threw it all away threw their health away and threw their friendships away and things didn't work out well that would be valuable but now then we must also learn from positive

people that have done well they've got the health and so we asked them how did you become so healthy they've got the skill so we ask them how did you become this skillful they've got the income so we ask them how did you get here in such a short period of time so now here's what's important in personal development in learning from other people we learn number one by observation we learn what we see we watch people that are successful in what they do in sports we watch their disciplines in business we watch their disciplines

by observation what we can see the reason I created this video is something that you could see someone's experiences translated For You Second we learn by what we hear I've got some of my lectures on cassette tape so you know you can take them with you wherever you go and Learn by listening turn your car into a mobile classroom and listen and then listen to the sermon on Sunday morning listen to the lectures listen to the teacher listen to someone who's got something good to say and then number three is vitally important on personal development

and that is read all the books all the books you can possibly read in your lifetime Mr scha got me started on my library I've got one of the better libraries haven't read everything in it but I feel smarter just walking in it my library at least I was smart enough to buy it now I got to be smart enough to read it then of course I got to be smart enough to decide what's valuable and then do it but this one is very important become a good reader some books that helped change my life

Mr scha recommended of course the Bible and my parents made sure I was a pretty good scholar by the time I was 18 that's been so beneficial for me drawing from those illustrations uh reading about those stories people who made it and people who didn't make it and what the difference was and then other books that helped to really change my life one called Think and Grow Rich by Napoleon Hill and then a book that helped me become financially independent by the time I was 31 and that book is called the richest man in Babylon

by George clayon and I'm going to share a little bit of that book with you when I get to financial Independence today our third subject but I started reading the books attending the classes uh making sure that I got in front of people that had something good to say and then I started keeping a journal one of the major things my teacher taught me me was to keep a journal he said don't trust your memory if you hear something good just make a little note and write it down now at first I took you know

notes on pieces of paper and torn off corners and backs of old envelopes and it didn't serve me well you know thrown in a drawer then I learned to keep a journal A bound copy of all my notes so I would suggest you do the same things that impress you a poem that impresses you when you attend a class some of the IDE ideas that impressed you jot them down uh you read something in a magazine right some ideas take those out put them in your Journal keep a good journal the rest of your life

this will serve you well my journals make up a significant portion of my own library and if you saw my library and saw my journals I tell you what you'd have to say this is the library and these are the journals of a very serious student no wonder Mr ran is invited to lecture and speak on his experiences around the world so I want the same thing to happen to you value captured that you can resort to later go back over it and review it and let it become valuable to you so that's my first

subject personal development work harder on yourself than you do on your job develop the skills learn the lessons take the classes absorb all that is being taught to you these days and then later on of course you can sort it out what's valuable to you and how to refine it for your business and for your life and for your future but the main thing is to get it and start this process of personal change personal development and let me say it one more time if you will change everything will change for you you'll never be

the same you'll keep growing as you look back on a few months look back on a few years you won't believe the progress you can make economically your relationship with your family your friends and whether you're in sports or economics or whatever I'm telling you that whole process of committing yourself for person personal change personal value can really make your life unique and worthwhile now let's cover the second subject on setting goals Mr shelf gave me some tips on setting goals that changed my life forever and I want to share those with you so let's

talk about setting goals and I also want to tie it to personal development and you'll see how I'm going to do it as I progress here setting goals we need to take a look into the future there are four things to consider in terms of attitude one is how you feel about the past best advice I can give you on that is treat the past as a school let it teach you the mistakes you've made the things that went wrong the things that didn't work don't use the past as a burden to carry and don't

use the past as a club to beat yourself to death past losses past failures past mistakes but let the past be a school tough school maybe we've all been through some tough stuff so if you feel good about the past draw from it for experience and let it teach you then next is how you feel about the future we've got to have the future welld designed the future is called the promise and here's what we teach in our leadership series The promise of the future can be an awesome Force for your own future the promise

of the future designing the future there's two ways to face the future one is with apprehension and the other is with anticipation I promise you in my travels around the world most people face the future with apprehension and here's why they don't have it welld designed they've sort of left that up to someone else to fix but here's the best way to face the future with anticipation and you can you can face the future with anticipation if the future is clear if the future is well designed and I would like to have you consider some

thoughts with me that help me to really change my future by giving it some thought and some consideration and here it is in setting goals it's very simple number one decide what you want you just take a little time you sit down and say what do I want what kind kind of skills do I want what kind of income do I want for the future uh what would I like where would I like to go places I'd like to visit uh habits I'd like to acquire skills I'd like to have you just take a little

time to think about what you want economics friendships people you'd like to meet places you'd like to go you just take some time and then I suggest when you've thought about what you want for the future make a list just jot it all down it's a really a very simple process and then here's number three keep all the old lists I'm telling you this served me so well keeping my old list of goals I look back now 10 20 years ago at goals I set lists I made and I smile now because here's what I

thought was so important you know 20 years ago now some of those things aren't even on my list I've got a new list I've grown I've changed I've matured but I give you that advice decide what you want number two write it down number three keep the old lists and then here's number four when you get something that's on one of these lists check it off part of the fun of having a list is checking it off and then if you can add some drama to checking it off see that's what really helps I set

a goal to go to Spain many many years ago and when I finally made my first trip to Spain I had that journal with me that had that list in it and while I had my journal on my lab waiting for the wheels to touch down in Madrid I waited until the wheels touched the runway and I checked it off just adding a little drama so part of the fun of having a list is checking it off now here's what's important about the list and designing your future if the future gets clear the price gets

easier because you got to remember for every promise there's a price to pay everybody's got to pay the price everybody's got to do the deal everybody's got to do the disciplines everybody has to pay but here's what I've discovered if the promise is clear and Powerful the price is easy to pay the price is some classes the price is a few books the price is a few disciplines the price is finding something that'll make your life better make you grow make you change make you develop so the first part of the key is to design

the promise then what is the price to pay I'm telling you the price will be easy anybody in my audience can pay it no matter where you are where you come from color doesn't matter religion doesn't matter where you grew up doesn't matter circumstances don't matter I'm telling you if you'll make the promise of the future clear for yourself the things you want the places you want to go the things you want to have the person you want to become the skills you want the homes you want the future you want the friends you want

all of the values of life that you could possibly want if if you'll make that clear make those lists and be serious about it I promise you it's an easy price to pay anybody can pay it and the best advice I can give you is if I can do it you can do it Farm Boy from Idaho raised in obscurity I changed my life turned it upside down turned it all around found economics found future found promise and if I can do it you can do it so start setting your goals and see if you

can't get a better excitement going for the things you want to accomplish for the future now here's my third subject and that's called Financial Independence oh by the way before I get to financial Independence let me cover one more point one of the major reasons for setting goals is for what they make of you in achieving them my teacher advised me when I first got started at age 25 he said Jim why don't you set a goal to become a millionaire he said it's got a nice ring to it you know enough zeros to impress

your accountant and he said I'm here to help you you're only 25 years old you've been to one year of college you've got a beautiful family every reason to do it why don't you set a goal to become a millionaire and he said here's why and I thought he doesn't need to teach me why wouldn't it be nice to have a million dollars he said no then you'll miss it he said here's why for what it will make of you to achieve it I'm telling you that statement changed my life set the kind of goals

that will make something of you to achieve them he said now once you become a millionaire what's important is not the money I thought that's kind of strange teaching he said honest it isn't important he said you could just give the money away now I did better than that I lost it all by the time I was 31 I was a millionaire by the time I was 33 I was broke and I'll tell you a little bit about that story later but when I lost all my money guess what I found out Mr cha was

right what was valuable was not the money what was valuable was what I became to earn the money the skills I had the knowledge I had about the marketplace the values that I had going for me they were more valuable than the money and here's an important statement to remember it's not what you get that makes you valuable it's what you become so part of the key here is to set the kind of goals that will make something of you don't set them too low so you don't have to grow and you don't have to

read and you don't have to try and you don't have to stretch don't set them too low and then don't sell out don't go for something that's going to cost you your virtue or cost you your values or sell out your principles there's a good Middle Road here to follow goals that will inspire goals that will help you grow change develop and become better than you are okay now let's talk about financial Independence how to become rich by 40 35 if you're extra bright much sooner if you find an opportunity like I did let me

show you how I did it Financial independence first of all I like the phrase Financial Independence some people are a little bit concerned about using the word becoming rich or becoming wealthy and I can understand that I struggled a little bit with this is it okay to go for becoming rich go for becoming wealthy and maybe that's a bit too strong a word or strong a term so here's what I've come up with that I think is comfortable for me and that is how to become financially independent I think it's every person's Heritage here especially

in America uh to become financially independent now let me give you my definition of financial Independence Financial Independence is the ability to live from the income of your own personal resources Financial Independence now it depends on how you want to live if you need $2 $3,000 a month if you need four or 5,000 a month if you need 10,000 a month some people may need you know 100,000 a month but whatever you would need to live and you could earn that living from the income of your own personal resources That's What I Call Financial Freedom

Financial Independence and let me show you how to acquire it if you start at age 15 between ages 15 and 35 is 20 years and in my personal opinion based on my own studies and my own experience 20 years in my opinion is enough time to become financially independent if you're not you don't live in the wrong country probably what's happened is you have the wrong plan and it's easy to be a nice person with the wrong plan I found that when I was 25 years old I was broke at age 25 and I was

a nice guy you would have liked me but I'm telling you my plans up until then especially my financial plan left me broke I totally changed it the next six years and I became financially independent so I know what I'm talking about it is possible in a reasonable amount of time 15 to 35 whatever 20 years time enough time you can do it in much shorter period of time like I did if you want to but this is a reasonable enough time but here's number one one first of all you got to have the right

philosophy philosophy is our ability to gather knowledge and sort through it and decide what's valuable to develop a philosophy about life a philosophy about our health a philosophy about our family relationships a philosophy about economics and if you develop the right philosophy that's what helps to set this sale so that in six years it takes you where you want to go instead of winding up like I did that first six years of my economics broke no money empty bank account the right philosophy now let me give you a couple of philosophies to consider here's the

first one it's called the philosophy of the poor and here it is poor people usually spend their money and invest what's left that's the philosophy of the poor now here's the philosophy of the rich rich people in invest their money and spend what's left and here's the startling answer it really doesn't matter what the amount is what's most important is not the amount what's really important is the philosophy so I would ask you to adopt this philosophy of spending after you have invested invest first then spend and I've got a little formula that I'm going

to share with you now what should a child do with a dollar I mean there's a lot of debate going on I'm sure across the country on what a child should do with a dollar here's one opinion it's only a child and it's only a dollar what difference does it make well in my opinion it makes all the difference in the world a person's economic future starts with a child with a dollar somebody says Oh no you're only young once let him spend the dollar well when would you hope that would stop somebody says well

wait till he's 50 and broke like me and you know and then you'll learn well no we don't want to wait that long if I would have known earlier than age 25 I would have changed in high school if I if they would have had classes called wealth one wealth two I'd have taken both classes I would not have waited until age 25 so the earlier the better so what should a child do with a dollar here's the simple premise to begin with don't spend it all and if a child wants to spend the whole

dollar you got to say hey don't spend it all you know don't don't spend it all they'll say why not it's my dollar I earned it you say I know you earned it but don't spend it all they'll still say why not say let me show you why not so you put them in your car take them to the other side of town and show them where people live that spend the whole dollar just drive them around kids learn best by visual just drive around and say would you like to live here kid says no

would you like to live like these people live kid says no no then you can't spend the whole dollar so kids will get the message so you know take them to the other side of town and show them around unless you already live there and then just show them around anyway don't spend the whole dollar now let me give you my best view of what to do with the dollar and I promise you if you started at age 15 now if you're over 15 right you still got plenty of time you still got 20 years

you know if you're 30 you still got 20 years I mean you know you still got plenty of time to start what I'm about to share with you what to do with a dollar here's my first bit of advice never spend more than 70 cents never spend more than 70 cents now you got to pick some number and the number you pick is going to be determined by your philosophy it's going to be determined by what you've been taught or your experience teaching yourself when I first met my teacher Mr cha I was at about

110% of each dollar you know I'm down Budget Finance Hawking my furniture in my car one more time and then I learned a whole better formula for financial Independence number one don't spend more than 70 cents now kids say to me well okay what do I do with the other 30 cents and here's what I teach them 10 cents for charity charity or church or helping people that can't help themselves 10 cents to support worthy projects projects that you feel good about 10 cents out of every dollar it's called being generous with part of what

you've taken out of society now in my opinion nothing teaches us character better than generosity no class no teacher no book teaches generos teaches character better than generosity and the best time to start is when the amounts are small and I know if kids learn these lessons well they'll give a dime out of a dollar help people that can't help themselves support worthy projects or if you belong to a church they teach tithe peace of that's very important now because when the amounts get larger sometimes it's a little more difficult you know giving a 100,000

out of a million someone says oh if I had a million I'd give a 100,000 I'm not sure that's a lot of money so the time to start is when the amounts are small 10 cents out of the dollar okay next 10 cents I call Active Capital active Capital means do something to make a profit active Capital set aside a portion of your income wages are okay but I'm telling you wages will make you a living profits will make you a fortune so set aside part of your income as capital called active Capital any kind

of project you can possibly think of you can possibly come up with I'm going to write a new book I think for kids I think the title is going to be of course kids should pay taxes it's kind of an interesting title in California kids do pay taxes when a child walks into 7-Eleven buys something that costs a dollar the proprietor says give me seven more pennies and the child says hey what's these seven pennies for and the proprietor says that's the taxes kid says well hey I'm only 8 years old proprietor says congratulations you're

my youngest taxpayer give give me the money so in California where I live kids do pay taxes big question is should they and my book will answer that question of course kids should pay taxes Nothing is for free if you want to ride your bicycle on the sidewalk instead of in the mud you got to pay the seven pennies nothing is free so we all have to pay so 10 cents out of your living out of the money you earn set aside for capital capital to try your best to show a profit and in my

book it's going to be all kinds of ways kids can make money right two bicycles one to ride and one to rent I mean you know it doesn't take long to figure out some Enterprise that'll start making a profit then you must jot this down if you're taking notes profits are better than wages one you can't usually start wages until you're about 16 15 16 but you can make a profit long before you're eligible to start earning wages and then there's no limit to profits and they can they can double and triple and quadruple you

know there's no limit it's incredible how fast profits can grow so profits are better than wages wages make you a living profits make you a fortune now the third 10 cents is vitally important I call it passive capital capital you let somebody else use a financial institution stocks and bonds mutual funds whatever let someone else use it you furnish the money they use it to make a profit but they pay you for the use of it called interest and here's one of the things that'll make you financially independent fairly quickly and that's called compound interest

and this is how you get it letting someone else use a portion of your money your substance they show the profit they pay you interest and this passive Capital I'm telling you over a sustained period of time if you'll develop this little 10 10 10 and 70 especially starting at age 15 I'm telling you by the time you're 35 you will be financially independent you'll have the ability to live from the income of your own resources and then one more point on passive Capital there's a Bible philosophy I'm an amateur on the Bible but there's

a Bible philosophy that teaches the borrower is servant to the lender and if you want to be in a powerful position as you grow older finally when you become mature maybe have your own business things have worked out for you for the future the position you always want to be in is the power position and that's called the lender the lender is the power position so if kids learn early enough and then you ask them what they'd like to be when they grow up I'm telling you once they understand they'll say well one of the

things I want to be is one of those lenders that's the power position not the spender no you'll be pied the rest of your life if you just become a Spender you got to become a lender and I think this is one formulas to follow 10 cents out of every dollar let someone else use it be the lender power position then try to show a profit can't we teach our children how to take a dollar search the neighborhood find a broken wagon pay a dollar for it bring it home you know clean it up sand

it until it's clean paint it red Till It Shines straighten out the wheels till they're true take it back to the neighborhood sell it for $5 anybody can do that now does the child deserve $4 profit and the answer is yes Society now has a mended wagon and that's what America's all about finding something touching it making it better making a profit taking part of your resources helping people who can't help themselves let someone else use it to make a profit some projects require more Capital than one person has exciting and then let them pay

you for the use of it America's had this philosophy now all these years communism has taught all these years Capital belongs in the hands of the state not in the hands of the people we've been teaching all these years Capital belongs in the hands of the people not in the hands of the state and we turned out to be right capital in the hands of the kids capital in the hands of the people Enterprises that make a profit Enterprises that grow it's the hope of our future so that little simple formula I hope will help

you now one more key on financial Independence and that is is attitude attitude here's number one I used to say I hate to pay my bills my teacher straightened me out on that he said let's see Mr Ron what you hate to do is pay $100 on an account and reduce your liabilities and increase your assets I said well no not if you look at it that way he said well it all depends on how you look at it so wouldn't you love to pay your bills reduce your liabilities increase your assets you got to

have that kind of attitude I found out the same attitude about taxes I used to say I hate to pay my taxes Mr SCH said well that's one way to live but don't you understand taxes is how we care and feed the goose that lays the golden eggs wouldn't you want to do your share someone says yes but the goose eats too much probably true but hey we all eat too much we all need to go on a diet better a fat Goose than no Goose so I finally became a happy taxpayer now I think

taxes are too high so I'm working to get taxes lowered for our economic future but then whatever they turn out to be I gladly pay and do my part because that's what makes the whole system run each of us doing our part now I want these three subjects to be valuable for you I want them to have meaning for you uh I want you someday to be financially independent uh I want you to have the personal development so that you feel good about yourself if I had a chance to meet you someday I'd like to

have you show me the list of goals that you got started and say Mr R here's some I've already checked off uh here's the books I'm reading uh here's what's happened I'm developing the skills I'm better this year than I was last year I've got more self-confidence my skills are developing uh that's what I want for you and that's why I took the time to come and share in this video message with you I do seminars all around the world but this is one way that I can reach out and touch you in case you

can't come to my seminars where wherever I am maybe this video will reach you somewhere and it'll have an impact on your life and what I'd like to do is later hear about it a letter phone call or to have a chance to meet you in person and now I'd like to leave you with these four questions called questions to ponder these questions were valuable for me and I want to make them valuable for you here's the first one why we all ask why we should work this hard why take that many classes why go

to school that many years you know why take the notes why read the books why work that hard why put yourself through the push-ups and the disciplines why good question why best answer to why I think is the second question why not why not see how many books you can read how many classes you can take how many skills you can develop why not see how valuable you can become to the marketplace and to your friends and to your family why not see what you can make of yourself why not see how far you can

go how much you can see how much you can earn how much you can share why not that's the Heritage all of us have in America especially is to see what we can make out of our Lives now that we've been given this extraordinary opportunity now my third question I'd love to ask you in person but since I can't do it in person I want to ask it of all of you but I want you to take it personally and my third question is is why not you why not you with good self-esteem why not

you starting to change and setting goals why not you starting to make progress toward Financial Independence uh if I can do it you can do it I wish I had a lot more testimonials here today besides mine a whole steady stream that would come by and tell you their story someone who started with nothing finally run a big Enterprise a mother who was on welfare now she owns her own business in addition to my story I wish I had a lot more and if all of them told their story guess how they would probably wind

up their story they'd probably say just like me Point not you if we can read you can read if we can change you can change if we can figure it out you can figure it out if we can turn it around you can turn it around there isn't anything you can't accomplish that's what those testimonials would say and so I want to say it to you personally why not you you've got the brains you've got the the stamina you've got you got the Vitality you've got the interest you've got your life ahead of you you've

got the future you can do it if anybody can do it you can do it if one of us can do it hey we all can do it and now here's my last question why not now this is a good time as the 20th century starts to wind down few more years as we get ready for Century 21 what a good time to set your goals work on yourself work on your skills what a good time to get it together together what a good time to start this process personal development growing changing developing having a

good plan for your money and for your life and for your future why not now and I hope I have a chance to see you one of these days and share with you the experience the reaction response you might have had from my message today and until I get a chance to see you on this side of the world or the other side of the world in some school or some seminar or maybe I'll come and speak for a company that you work for someday I hope I get a chance to meet you until then

I wish you the best I want all that I've gotten to be yours and much much more God bless goodbye e e e for