How to Turn Your Paycheck Into Wealth: A Step-by-Step Guide

in this video I'm going to show you a step-by-step way to turn your paycheck into wealth because unfortunately for most Americans your paycheck is just a way to pay our bills which is why the majority of Americans are broke drowning in debt with no hope to become wealthy but that ends today because in this video I'm going to show you the six bite-size steps that you can take to build more wealth than you ever thought was possible with a systemized plan and the way that it works is by understanding that Building Wealth is like climbing

a mountain and the way you climb a mountain m is by taking one small step at a time and you're can do the same thing first you're going to prepare to climb then we're going to do c l i m b so let's break it all down and the way I'm going to do it in this video is I'm going to start with C then L Then I then M then B and then we're going to start at the bottom with the pre-climb that way we can tie this whole video together so let's break this

down so let's start with step number one C create your financial base and again we're going to end with step number zero so starting with step number one creating a financial base the way that you succeed here is by doing these two things in this order number one I want you to save $22,000 as fast as possible and step number two is you're going to pay off all of your highin debts like your credit card debts and you're going to do this in this order starting with saving your first $2,000 the reason why you want

to save $2,000 is because the problem most people make is you don't have any cash savings and so now when you're trying to pay down your high interest interest debts like your credit card debts you get hit with some sort of emergency your car breaks down your window breaks your AC stops working your heat stops working and now you have to go into credit card debt to fix this problem so you thought you were taking action by paying down your credit card debt but then you take two steps back because now you got to fix

this problem with your AMX that's why I want you to start with a little $22,000 savings account that way you can just have a starter fund for your emergency savings to protect you against an emergency this is not your emergency savings this is just the starter fund that way once you do this now you can start attacking these credit card debts now notice we're not talking about doing anything else here we're talking about investing your money we're not talking about getting into wealth planning strategies all you want to do is get out of the financial

hole because when you are in credit card debt or if you don't have $2,000 saved up you were in what I call the financial danger zone you were in a place with your money where you are so vulnerable that you're going to be prayed on by a whole bunch of people payday loans and all these credit card companies because you are the Prime customer because you don't have money and you probably want nice things and you want a little bit of relief so all these lenders are trying to give you free money that way you

can pay them insane interest rates and make them Rich for the rest of their lives and you stay stuck in debt for the rest of your life I don't want that for you but in order for you to get out of this financial danger zone you're going to have to make some extreme sacrifices so what I say is when you a heer when you do not have your financial base created you are going to make the most extreme sacrifices this means right now if you don't have this no more vacations no more eating at restaurants

no more buying nice things and no more Netflix until you have achieved this now you might say well just prit what does Netflix have to do with my credit card debt that might take a while and it's not the $15 a month that you're paying for your Netflix it's the 2 to three hours a day that you're spending watch your Netflix if you have credit card debt you should not feel comfortable watching whatever's on Netflix you should not feel comfortable sitting there on the sofa and just relaxing at the end of the day right now

you got to have the fire on your butt because you got a problem you were in the financial danger zone and you got to get serious about it you should not feel comfortable sitting there relaxing at the end of the day because right now you got to figure out how to get out of this and that means turn that Netflix time into Learning Time use the Netflix time to read books watch YouTube videos or listen to podcast how you can earn some more money how you can save some more money how you can invest your

money and how you can start a business you've got to figure out how you can get this extra money or use this time just to go out and work some more maybe you go drive an Uber maybe you go out and do some other side jobs that way we can make some extra money because right now you got to pay down this credit card debt and save this $2,000 as fast as possible once you get past this step it's going to get a lot easier and it's going to be a lot more fun but this

is the step where you have to make the decision do you actually want to build wealth or do you just say that you want to do it everybody says that they don't want to be in a bad financial situation everybody says that they want to be able to buy whatever they want without having to worry about the money but you're going to have to be able to make the sacrifices that most people are not able to do the reason why I call this channel the minority mindset is because it's the mindset of thinking differently than

the majority of people has nothing to do with the way you look it's all about the mindset and most people don't have the minority mindset it's easy to complain it's easy to talk about how hard it is it's easy to just wish things it's a whole lot harder to do it and on this channel I don't make these videos to get you to like me I get these videos to help you be better with money and if you actually want to make the change you got to be willing to make the sacrifice for a little

bit my goal is not for you to never live big my goal is not for you to just make sacrifices for the rest of your life my goal is for you to make those sacrifices for your period of your life so you can enjoy the rest of your life without ever having to worry about money again but it starts with you changing where you are today which is why you got to create your financial base to build the foundation and get out of the financial danger zone we're moving One Step higher in the wealth Mountain

we covered the C now let's talk about the l lead your money this step is all about creating a system for your money because the majority of people make money they pay taxes before they see their money and then they spend their money and then they wonder where all their money went and if you have any money left over this is where now people think about how much money should I save how much money should I invest but this is the way that broke people think and I want you to start understanding and thinking the

way wealthy people think because what every single wealthy person does is they know how much money they're going to invest they know how much money they're going to save before they even generate that money they have a plan for their money before they earn the money because they always want to save and invest their money before they spend their money notice the difference broke people spend their money and then they save or invest if there's anything left wealthy people and people who become wealthy save and invest their money first then you spend whatever is left

but this starts with you creating a system for your money and a very simple way that you can start is something like my 751 1510 plan which says for every dollar that you earn from here on out 75 cents is the maximum that you can spend 15 cents is the minimum that you are investing and 10 cents is the minimum that you were saving now what you're doing is a couple things number one you're not spending all of your money because you're only living off of 75 cents of every dollar that you earn but you

know that you are investing money and saving money before you do anything else and this is where you become wealthy this 15 cents of every dollar that you earn your investment money this is where you build wealth this is what's going to protect you against an emergency but this is where you have to systemize this because the first thing you might say is well just how in the world you expect me to live off of three4 of every dollar that I earn when I can barely get by right now think about it like this when

you get paid you pay the government taxes you don't even see that so you don't even realize how much money you're paying in taxes those taxes are making the government rich I want you to tax yourself but now this tax that you're putting on yourself is going to make yourself rich if the government raised your taxes tomorrow what are you going to do you're going to complain and cry and scream but then you're going to figure out how to pay it because if you don't you're going to go to jail you're going to do the

same thing for yourself you're going to figure out how you can tax yourself that we you always have money to save and invest so what I'd like you to do is go out and create three different bank accounts your bank should allow you to do this for free if they don't get a new bank create three bank accounts one to hold your spending money one to hold your investment money one to hold your savings money now as soon as you get paid have the money automatically pulled out your checkins account and deposit it into these

different accounts automatically that way you don't accidentally spend that money and that way you don't see that money not when you don't see it automatic and you're not as tempted to spend it now you might have to downsize your lifestyle maybe you stop driving the Jaguar and the BMW and the Mercedes and now you got to go to Toyota for a little bit maybe you got to live in a smaller apartment or a smaller house and maybe you don't go on as many vacations for a little while but the goal now is when you start

investing your money then now these Investments start to make you more money because your Investments pay you even when you're not working see when you go to work you got to go there and do something to get paid if you don't work you don't get paid maybe you can get buy for a little while but eventually your boss is going to find out and they're going to fire you if you work you get paid if you don't work you don't get paid with your Investments if you don't work you get paid that's the goal with

your Investments to keep investing your money now this is where it does help to be a smarter investor and that's why my team at briefs media publishes a free newsletter six times a week called Market briefs where we breakdown what's happening and things like the stock market and the housing market and the crypto market and our economy and the global economy into a fun and witty and easy to read newsletter it's read by hundreds of thousands of investors every single morning and it's completely free and it's a super fun read I mean we have a

lot of fun writing it and I know you're going to have a lot of fun reading it as well and you have nothing to lose because well you don't have to pay anything to join so if you want to join Market PR for free I got the link for to join down in the description below now this is where the question everybody asks is just what should I invest my money in should I buy Tesla should I buy Amazon should I buy Apple should I buy Nvidia but that's the wrong question the first thing you

got to understand what is the game that you want to play do you want to be a passive investor do you want to be an active investor I mean do you want this money to be automatically invested or do you want it to sit into this account until you find a good opportunity and then you have to understand how involved do you want to be with your Investments do you just want to invest your money into the total stock market or to the S&P 500 100 or do you want to actually go and find a

stock or do you want to actually go and find a real estate property to invest in and then you got to know your goal do you want to invest for cash flow or do you want to see price growth most of my investments are for cash flow I like cash flow because well as I invest my money that means I get more cash flow every 3 months my stocks pay me a dividend I get a dividend check every quarter because these Investments are just sending me money my rental properties pay me every single month now

this is income that I can use to pay for whatever I want right now I'm taking the money I'm just reinvesting it but I could use that money to pay for my expenses and you got to know the game that you want to play do you want cash flow do you want appreciation and you got to figure out which assets do you want to invest in do you want to invest in stocks do you want to invest in real estate do you want to invest in startups do you want to invest in cryptocurrency what is

it that you want to invest in but it starts to be understanding the questions to ask and the mistake that so many people make is not investing in the right thing is that they never get started or they become a Trader they think that they're an investor and then as soon as markets go down they panic and then they sell you buy high and they sell low but this is where I just want you to get started start aist izing your money and then learn how to invest that goes Way Beyond the scope of this

video but have a ton of resources start reading Market briefs and as you learn you can start making more sophisticated and smarter Investments as you start to invest in your investor education we are moving on up the wealth Mountain L taba ey interest free living now we get to really have some fun because there are two main things that I like to talk about when it comes to interest free living that means number one no more financing things that don't put money in your pocket and number two my rule of five let's start with this

we live in a consumer Society in America that means people love spending money but more than that people love spending money that they don't have because we have made credit so widely available and our entire economy runs on credit I mean our government is drowning in debt our entire economic system relies on people spending money they don't have through debt loans lines of credit credit cards you name it and now it's become even easier with things like buy now pay later which now you can use to finance your groceries or whatever else you want and

this is where I want you to break away from that because if you want to live a life that most people dream about you can't keep doing the things that everybody else keeps doing I mean if you keep doing what the majority of people do you're going to end up like the majority of people and right now the majority of people are broke and drowning in debt and so if you don't want to live like the majority of people you got to start thinking like the minority of people and that means you got to start

doing different things and that means stop financing things that means stop financing the phone even if it's 0% APR stop financing your Gucci because you can't afford it and stop financing the things that don't put money in your pocket the only exception to this is your house that means yes you do not Finance your car either now this can make people feel a little uneasy because you might never have heard something like that before but here's the reality your car is not something that is going to put money in your pocket I mean cars drop

in value very fast and when you finance a car you are doing a triple VY you are financing something that is losing value you're financing something that has a limited time span and then you're paying interest on top of that so you're paying interest on something that is going to lose you value and something that you have to get another of because that car is not going to last you 50 years you're going to need a new car in a few years and so now when you're financing it yeah you're making BMW richer you're making

your Banker richer but it's coming out of your pocket you're using your income to make them rich I'm not against you buying a BMW or something nice I just want you to be able to afford it first so if you want to buy that car fine just don't Finance it be able to afford it with cash now you might have to drive a little bit smaller a little bit not as exotic right now for a little while until you can afford the nicer car but instead of paying the5 6 7 $800 a month in your

car payment plus the premium gas plus the more expensive Insurance Plus the more expensive oil changes now you take that money and you can use it to fund your Investments you got more money a little bit less of an exotic car but more money in your pocket to build your wealth secondly when it comes to the rule of five you want to buy something nice you want to buy a nice rollx or whatever you want for yourself great when it comes to luxuries I follow the rule of five which is if I can't buy five

of them I can't afford one of them simple because the mistake that many people make I know I made this too when I was getting started with my whole journey was if I had ,000 in the bank I assume that I could afford a $1,000 watch because I'm not financing it I got the $1,000 but that's the wrong game when it comes to luxuries if I can't buy five of them I can't afford one of them oh baby we're making our way to the top now let's go to m multiplier income here's what happens about

now you start to like this financial education thing you start to like this whole idea of being smart with their money and now if you're following something like the 75 1510 plan here's what's going on you're making money you're spending 75 cents of every dollar that you earn you're investing 15 cents and you're putting aside 10 cents to save and then what you realize is man I wish I could invest more money because I know that these Investments are going to make me wealthy I'm starting to see the success with these Investments so how do

I do that now the thing that most people do in this instance is you try to find ways to spend less money now maybe instead of 75 1510 it's 70201 you're trying to find more ways to squeeze pennies out of your pie which is a great place to start you're trying to squeeze more money out of your income your budget that way you have more money to invest but there's a limit to how much you can squeeze there's a limit to how much you can cut back but there's no limit to how much you can

earn now I'm not against you cutting back but I also want you to understand that you have a lot more potential if you now work on earning more money because let's say you're making $50,000 a year right now well maybe you can find an additional $1,000 a year that you can invest or maybe the alternative is you try to grow your income to let's say $500,000 a year now instead of trying to invest an additional ,000 now you can find an additional $100,000 a year to invest now when I say that you might say well

desper what the heck are you talking about how in the world am I supposed to go from $50,000 a year to $500,000 a year this is where I want you to think a little bit differently and I'm going to talk about this in the end of the video but if you now were tasked with figure out how you can make half a million dollars a year what are you going to do you're going to be very confused you're going to be shocked you're going to say that's not possible you're going to say you're stupid just

breath and then maybe one day you're going to wake up in the middle of the night and say let me start reading about this you start googling it start watching YouTube videos and how to do it maybe you buy a couple books and how to earn some more money and maybe you try a couple things and you're probably going to lose maybe buy a class and it goes nowhere and it's a waste of money and maybe try to start some online store and it goes nowhere and it's a waste of time and it's a waste

of money but if you keep trying maybe find a way to add an additional that's call it $1,000 a month to your income well that's not bad and if you can figure out how to make an additional $1,000 a month well you just keep trying to grow that and refine that and it won't be long if you can turn that to $5,000 a month in income and if you can make $5,000 a month an income from the side of doing what you want I'm pretty confident you can turn that to $10,000 a month and if

you can make $10,000 a month well what's stopping you from turning that to $20,000 a month or $50,000 a month and this is where understanding the game there are many ways that you can earn more money maybe go and you start a side business maybe you start your own business maybe you figure how to ask for a raise maybe you figure how to ask your boss for an additional $10,000 a year maybe you get a new career maybe you get a new job maybe you go online and you get a certification that way you can

earn more money maybe go back to school that way you can get a better job there's a lot of ways to go about doing this but the reason why you're working to earn more money now is that way you have more money going into this funnel right you have the system whether you're making $50,000 a year $500,000 a year or $5 million a year moneyy is going to be spent and invested and saved and as you make more money you have more money being saved more money being invested and also more money to spend you

can live a nicer lifestyle while you're also investing more money but the reason why this is so important is you don't just caught up into this game of how do I just spend less money to have have money to invest it's a great place to start but you don't want to get caught up in that mindset I want you to have a growth mindset and understand how you can grow your income so you can grow your whole wealth all right we have come a long way now let's talk about how you can be great before

we talk about this that way we can tie the entire video together so let's talk about how you can be great here's how you be great first you need to be great for your family by protecting your assets by hiring the right advisers number two you want to be great for the community by knowing how to give back starting with your family how do you be great for your family here's the reality when people realize you have money they're going to try to take their hands put it in your pocket and take some of your

money for themselves attorneys love this game how do I know that well I am a licensed attorney although I'm not your attorney and there are many attorneys that are just looking for wealthy people to sue for whatever reason that they can possibly find because they know that you might want to settle and the settlement is a nice paycheck for that attorney and so there's a lot of things that you can do here to protect yourself by having the right advisers number one as you start to build more wealth you want to look into getting an

attorney for yourself maybe that's an estate planning attorney so you can build a will a trust or some other sort of estate planning that way you know what to do with your assets after you die you can also take a look at getting a good tax adviser maybe that's an accountant maybe it is some other sort of tax attorney depending on how much money you have and how sophisticated your wealth structure is that way you know how you can pay less money in taxes legally so you can protect your assets financially maybe this me getting

a financial advisor now financial advisers are great but you have to understand how to use a financial adviser and who they're right for for some of you maybe you don't need a financial adviser I don't use a financial adviser but maybe you would like that maybe you want somebody to help manage a money somebody who's a professional great just understand some of the financial education Concepts that way you can talk to your financial adviser and understand if they're doing a good job for you if you're looking for a financial adviser you can check out some

of my partners again down in the description that way you can meet the financial adviser and have somebody who can helpfully help you build your wealth as well this also means having advisors that can help you protect your assets with maybe things like life insurance if you don't have life insurance and you don't have your wealth built yet well now your family is kind of at risk because if you're the bread winner in your family and something were to tragically happen to you well now your family could be stuck without you which is an emotional

loss but also without that income as well and that's where having some sort of life insurance could come in handy as a way to protect your family if a tragedy were to happen again these are things that you just want to start thinking about that way you can protect your family from these types of situations again if you're looking for life insurance I have a link to my partner down in the description that way you can learn more and maybe get a free quote as well as well if that's something that you're interested in but

the whole idea here is how do you protect your assets that way you can take better care of your family and be great for your family the second part of this is being great for your community by giving back because the reality is the more you have the more you can do and as you build more wealth well now you can help many other people and there's a lot of ways that you can help maybe this is through your money maybe this is through your time maybe this is through your knowledge or expertise because sometimes

people just need a little bit of a helping hand or a little bit of a nudge to help them get to the next level and as you build more wealth I believe it's important for you to give give back and share that as well and now that we have finished Part B we're going to tie this whole video up by going back to the beginning and talking about how you can pre-climb and the reason why I talked about pre-climb last in this video is because this is such an important concept but what I've seen happen

is many times people will watch this and leave and not watch the rest of the video which is the Practical steps so I want to talk about the Practical steps first that way more people stay and watch that so hopefully we can get more people to watch this as well because we see the analytics we see the track haing and sometimes people watch this and leave and then they miss on all of this so my goal is that you watch this and watch this by keeping this in the end so we'll see what happens but

the pre-climb is all about priming your mindset to understand how you can become wealthy as well here's the brutal reality you have to be wealthy in your mindset before you can be wealthy in your bank account you can do everything right you can learn all of this stuff but until you believe that you're going to become wealthy you're never going to want to do it because if you think that Building Wealth is evil or bad or or something that's just so taboo why would you want to do that for yourself because you're not going to

want to do something that's going to make you evil or that's going to make you a bad person and so you're going to sabotage your success you're going to sabotage your ability to actually see that wealth that you want and so you have to work on your mindset understand that you will become wealthy and that's your duty to become wealthy and understand how money plays a part in your life because the reality is many people grow up in a house where we're told money is limited money is bad money is evil you can't afford nice

things you can't have nice things and this gets ingrained into our mindset into our thinking into our psyche and you have to break that this is the reason why so much poverty is generational it's not because poverty is in your DNA it's because when you grow up hearing those things you believe those things then you tell your kids those things your kids tell their kids those things and it gets passed on generation after generation and you want to be the person that breaks that but this is going to require some real work into changing the

way that you think and that's going to mean when you start to see yourself slipping thinking that ah this person must have done something bad because they're rich oh money is evil oh money doesn't matter you change that thinking and understand hey money is just a tool I mean it's emotionless it's not a good thing or a bad thing it doesn't make you a good person or a bad person it just amplifies who you are if you give a good person more money they have a tool to do more good you give a bad person

more money they have a tool to do more bad that's why we need more good people with money and understanding hey money is not going to fix everything in your life but it will make the financial part of your life easier maybe that can help you work on the other parts of your life maybe that means if you're not stressed about money you can go out and spend more time in the gym you can spend more time with your family you can spend more time traveling you can do more things that find your purpose that

money itself is not going to make you happy maybe it will for 2 weeks but that money itself is not what life is about it's what money can buy you it's the freedom and it's the time that is what's more important but it requires you to understand hey look it is your duty to become successful it's not a bad thing to go out and want to become wealthy it's not a bad thing to become wealthy it's just a tool to allow you to do more things that you love and that's the pre-climb is building the

that mindset because if you don't have the right mindset none of this education matters because you can have all the financial education in the world but you're going to stop yourself from becoming successful we all know that person that negative person who has a problem with every successful person who has a problem anytime you have a financial idea an investment idea they find the problems with everything well you're never going to be able to become successful if you're always thinking like that you have to think in terms of abundance there's a lot of money out

there and it sounds weird especially the first few times but as you start to try it you start to realize that you are painting your own life you're painting your own reality I mean we can create a very negative and horrible reality guess what there's a lot of crap in the world people are dying there's a lot of crap that happens there's a lot of bad things in the world a lot of bad people in the world or we can paint a picture of beauty there's a lot of beautiful nature in the world guess what

there's a lot of good people in the world a lot of people that are giving so much in this world so many opportunities in the world there are some people that are becoming so successful in this world there's so many great things in the world there's so much great Beauty in the world which one do you want to see understand both but which do you want to focus on and understanding when you start to focus on the opportunity you see more opportunity when you focus on the negative all you see is bad and that's why

you have to understand this that way we can take advantage of all of this as well and with that I hope now we have laid out the foundation for you to actually build wealth understand this is not an overnight thing I talk about a decade of sacrifice this is a decade of spending less and earning more take can invest like crazy that way can build real wealth and not have to worry about money again but it starts with you taking the first step working on the mindset and keep growing one small step at a time

let me show you what to do with your next paycheck that way you actually have a system to build wealth step by step let's assume that you make $60,000 a year that's $55,000 a month the problem with this $5,000 a month is you don't get to keep all that money because you got to pay taxes