What's the State of Your Financial Estate?

I think you'd be shocked how many of the worries and anxieties you have are actually based on money and I know money money is not the most important thing in the world no it's not you are correct it's not the most important thing in the world but it is right up there with oxygen what does that mean well you got to have it every day to live and when you don't have enough you feel like you can't breathe can I ask you a question do you know the state of your financial estate and when when

I ask that question you may be thinking I don't have enough money to have an estate everybody has a financial estate it doesn't matter whether you're rich poor middle class you could be living in the biggest mansion in Tampa Florida or you could be living under a bridge everybody has a financial estate do you know the state of your financial estate so you say man what is an estate well there are two definitions when I Googled it that it came up with we're going to go with the second one but I'm going to tell you

what both of them are so an estate an extensive are of land in the country usually with a large house owned by one person family or organization we're not going to use that one that's not the one that I'm that's not the estate I'm talking about this is the one I'm talking about all the money and property owned by a particular person especially at death all of the property and money owned by a particular person that's the one I want to talk about so what is the state of your financial estate so I wrote this

book back in 2006 it's called from the trash man to the Cashman how anyone can get rich starting from any this book has impacted thousands upon thousands of lives okay so in that book I did a I taught a concept called how strong is your financial house so that concept is the concept I want to share with you today so when I say everybody has a financial estate this is what I mean by Financial estate I mean your perception of money and all things having to do with money so what is the state of your

financial estate this is the state this is the blueprint right here for a um for a sick Financial estate so if you want you if you want to have a sick Financial estate this is the blueprint this is what your house looks like it looks like this it looks like this it looks like this and maybe a little bit of that and then you got a door okay these are windows so say what do what do you mean this is the state of my financial estate so your financial estate is this is your income window

so you make money where do you make money from well probably if you're like most people this is you right you make money from your what job so you are the only thing producing income for your family for your financial estate you are the only thing or if you're married maybe you and your spouse both okay so you and misses you okay y'all both have a job and your money comes in here now if you're are if you're Financial estate is sick this is your income window this is your outgo window oops this is your

outgo window so when your money comes into your income window it goes out your outgo window in the form of bills so the the reason your financial estate is sick if it's sick it is sick because you think the primary purpose of money is to pay bills and every now and then to buy things that you don't need or maybe some things that you do need so you think the primary purpose of money is to buy things so if you think the primary purpose of money is to buy things and pay bills you're the the

the the state of your estate is you have a sick Financial estate and and most people who live like this struggle financially their whole lives why because they spend every dime out of every dollar every dollar out of every 10 every 10 out of every hundred every hundred out of every thousand goes to either paying bills or buying stuff you cannot this is not sustainable long term this is the state of your financial estate where if this is how you do money when you die your family is going to have to take up a um

crowdfunding campaign to either to like have a funeral like either to cremate you or to bury you I and I don't want to be morbid but that's the reality the reason people end up having to do that is because they had did not manage their money well and you're not going to ever manage your money well you won't ever do the right thing with your money if your perception if what you think about money if what you think about money that's a light bulb if what you think about money is off if what you think

about money is off then you will never do well financially you have no asset protection which means your roof is leaking you don't your foundation is shabby it's built on lies lies that you believe that the primary purpose of money is to pay bills and to buy things and so your financial estate is very sick and until you get to the point where you do more with your money than pay bills and buy stuff you will never have a healthy Financial estate okay so that's that's a sick Financial estate the second kind of house is

a stable Financial house and if you're if you have a stable Financial house you've got this window you've got this window and you've got this that was a disproportionate window you got this window you've got this window you got this window and more than likely this is the biggest window in your house so how do you make your money well probably from your job or if you were like me when I was was living like this I had my own business right so you either make that money from your job or your business the money

comes into your income producing asset window okay the money comes into your income window and when it comes into your income window what you do is you pay your bills it goes down and goes out your outgo window and then you borrow money and you have your wrl wrl stands for wealth reducing liabilities and what you do is you pay your bills on time so you pay them in a timely manner so when you pay your bills on time now you have good credit so the bank will loan you money and credit card companies will

loan you money and so what happens now is some of your income goes down here in the way of bills but some of it goes down here to just maintain that good credit and so now my income comes in here it comes down here and it comes down here and then goes out the outdo window so this is a stable Financial house I do have some asset protection I might only have insurance I probably don't have an EST plan I may not have a will but I've got and then it's built on half truth what's

the half truth well um as long as you got good credit everything's going to be okay if I can't afford it it doesn't matter because the bank will Lo me enough money to buy it now the interesting thing about borrowing money it's a better idea to borrow money when you don't need to that it is to borrow money when you do need to isn't that kind of like paradoxical like if you don't need to borrow money that's the best time to borrow money that's why rich people this is why rich people borrow money because because

we understand if we borrow money are y'all tracking if we borrow money we can use the bank's money cheaper than we can use our own but poor people borrow money like they can't borrow use the bank's money cheaper than they can use their own because their money's costing them everything and then the bank's money is costing them everything plus interest this is a stable Financial house as long as you continue to make enough income to pay your bills on time and maintain good credit and you don't let this get too out of control now you're

this this will never make you rich this house will never make you like financially successful this house will never make you financially strong but you can be financially stable this is this is when people say I want to be F well that's not even financially secure that's just financially stable you are financially stable as long as you don't have any major catastrophes right then you're going to be okay this is how I lived for a long time until I found out what there's a better way to live there's a better way to live than being

stable oh yeah this is the one that changed the game for me when I realized this is the house of houses this is my greatest opportunity to have a very strong and successful Financial house I have asset protection what does that mean it means I have enough Insurance to replace my income for my family if I die and pay off any debt that they want to pay off and what does this mean I have this is built on the foundation of Truth what is the truth the truth is that I've got an income window I

the truth is I need another window I've got to have one of these not just these three but this window is the window of Windows this is that's where the magic happens so you have a business or you have your job so if you got your business or you have your job or maybe you have both income comes into your income producing asset window income comes into your income producing asset window your IPA window nope income comes into your income window and then when you have a strong financial house this is what has to happen

the first thing you do when you get money is you put that take some of that income and you put it into your IPA window what's IPA IPA stands for income producing assets you put some in your income producing assets window and then when you first start putting money in your income producing asset Windows nothing happens so you take some of your income put in your income producing asset window and then some of the money comes to pay your bills and then some of the money comes down here to your wealth reducing liabilities window this

is your outgo window some of it comes down here and then it comes out your outgo window so your cash flows in this direction in this direction and in this direction now the the thing about having this income coming over here like when you first start putting money into your income producing asset window it doesn't do anything it doesn't make you any money this is why most people don't do it most people are so addicted to a paycheck and so they're so addicted to immediate gratification that they don't allow themselves to defer gratification long enough

for this window to get big enough to like work its magic so what happens eventually though you keep putting money over here in this income producing asset window guess what happens eventually it takes some money and puts it back in here and then you then what you do then what do you do you put some more money in here you buy or build or acquire or accumulate or create some more income producing assets this window gets bigger and so now you got more income producing assets putting money over here so I've got trash man to

Cashman that book makes me anywhere from $8 to $12,000 a month I've got boss moves that book makes me anywhere from $18 to $770,000 a month I've got my make more offers challenge funnel just tickets make us between $80 and $110,000 a month these are all income producing assets and then when once you have an income prod using asset window that's really really big eventually it puts all your income back over here it pays all of your bills and pays off all of your debt the objective is to get this window to be the biggest

window in your house by and how do you get it to be the biggest window in your house by focusing on it and continuing to put income producing Assets in it eventually this window pays all the bills pay pays all the bills on time it had the business has the credit because all the bill bills are being paid on time I max out my American Express card the way incom producing asset window pays it off and then what happens is eventually this window can get big enough to St sustain not only you but you and

your legacy that's the objective the objective is not making a bunch of money just so I can have a nice car and just so I can live in a nice house in a nice neighborhood there's nothing wrong with nice cars I've got nice cars there's nothing wrong with a nice house I have nice houses there's nothing wrong with having nice things and jewelry and art and all that all that stuff is fine but that's not the primary objective the primary objective is to have a incom producing asset window that is so big that if you're

family has to worry about something ever again money ain't it up here this might look like some insurance and it'll look like Wills it'll look like an estate plan estate plan all of these things are things that you do because this gives you the ability to to do it I'm telling you when you live like this you have a strong successful Financial house you don't just have a stable Financial house where you're paying the bills and maintaining good credit you don't have a sick Financial house where all you're doing is paying bills and buying stuff

but you have a very strong and successful and sustainable Financial house that can sus if you do this right this can sustain your family for Generations that's the game Cher and that's how you can know all you have to do is ask yourself this question what do I do with most of my money you want to know the state of your financial estate what do I do with most of my money does most of your money go to pay bills or does most of your money go to pay off debt that you used to buy

things that you didn't need didn't really want and couldn't afford so you can impress people you don't know who don't even care about you or does most of your money go into some kind of asset that can produce more money because when it does that then and only then will you have a strong successful sustainable Financial house and in order to do that it must be built on the p on on on the foundation of Truth not all of the misrepresented lies that we've been taught to believe all our lives about money I hope this

video helps you if it shifts your focus like it shifts M shifted mine because when I when I discovered this in 1999 the trajectory of my financial life went like this and now I've got way more assets than liabilities I've got way more assets than bill I've got way more assets than any like I money is just money and I don't mean that listen I don't I'm not wasteful that's not what I'm talking about I'm just I don't have to worry about I don't have to read go to the restaurant and read the menu from

right to left oh that's a good price up chicken again I don't have to I don't have to read menus like that and I'm my desire is for you to get to the place where you don't have to read menus like that and um somebody asked me um once when when I talked about the fact that I bought something I don't know maybe it was oh when I bought my Sprinter van somebody said what did your wife think about buying your a sprinter van or what does she have to say about it I said she

didn't have anything to say about it not because I don't respect my wife I respect my wife immensely but because my wife and I are both adults and we don't ask for permission and I said if my wife wants to buy a house on her way home she can show it to me at closing or after closing why because I trust her that much and she trusts me that much and it's just money how many you on tracking by the way I think you'd be shocked how many of the worries and anxieties you have are

actually based on money and I know money money's not the most important thing in the world no it's not you are correct it's not the most important thing in the world but it is right up there with oxygen what does that mean well you got to have it every day to live and when you don't have enough you feel like you came breathe all right all right I'm I'm done with my puns I wanted to be a standup comedian and that didn't work so here I am all right hope this video helps you hope it

blesses you really get this etched into your cerebral cortex heard somebody say that one time I think it's part of your brain um get it eted into your cerebral cortex and let it change your life like it changed mine and we'll look forward to seeing you in the next video Stay Blessed by the best and we'll see you soon bye for now