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Highlights from this episode include:

  • Why 97% of retired Americans are forced to go back to work to pay their bills (ad how to be in the 3% whose retirement lasts them their entire life) (2:03) 
  • The insidious way your accountant steals your wealth by lowering your tax bill (3:53) 
  • How to become wealthy — especially if you were born with a bad lot in life (7:40) 
  • The weird way being fat prematurely caps how much money you can make (11:20) 
  • How losing weight reverses your broke money mindset which puts saving and investing your money on easy mode (13:48) 
  • 3 simple, yet difficult ways to change your money mindset and become stinkin’, filthy rich (14:45) 
  • How you’re subconsciously repelling money from your pockets and how to instantly attract it instead (16:43) 

Ready to stop doing what you hate? Go to https://RetireNowRetireWow.com and fill out the Game Changer form to secure your financial future.

Get our 5 Year Countdown to Retirement Guide and make sure you’re on track to retire (no matter where you are in your career). Visit https://www.brightfg.com/wp-content/uploads/2021/03/Countdown-to-Retirement-Guide_BrightTree-Financial-1.pdf

Read Full Transcript

Do you hate the thought of working past 55 or 60? Do you hate not being able to live the life you deserve today? Do you hate not knowing what your financial future looks like? It's time to stop doing what you hate, here's your host, Mr. Harold Green.

(00:20): Oh, well, hi everybody. This is Harold Green on Brightree financial group. It is time to stop doing what you hate. Welcome to the show. Everybody. I hope you are having a fantastic day. I know I'm doing pretty good and

(00:36): I'm extremely excited to bring you guys today. Show up because I think it's probably one of the most powerful shows that I've ever done. And the title of the show is the ultimate money magnet. That's right. The ultimate money magnet. And I'm going to share something so powerful with you guys, and, and I'm not sure if this is something you have heard before, but before I get into the show, I want to ask you guys a question. I know all of us have, you know, our favorite song, something that just gets us hyped, something that just puts us in the mood. And every time we hear the song, it just, it just takes us to a whole different level. So you guys can hit me up and email me, give me a call. Just let me know what your favorite song is. And one of those songs I love is by tribe called quest and that's a group back in the eighties and nineties.

(01:27): And the song is taught title bugging out. And if you guys don't know what bugging out means, go look it up. But it starts off with the lyrics. Yo microphone check one, two width. Is this the five foot assassin with a roughneck business? I float like gravity never had a cavity got more rhymes than the ones that got family. Every time I hear that I'm on the treadmill, man. I just, I just erupt and I take it to a a whole new level. But again, I'm super excited to be sharing. Today's show the ultimate money magnet. Are you guys ready? One, two, three, let's get it. Now here's a stat that just blows my mind. And it's basically 3% of all the people in the world, or I'm sorry, in the United States will retire with enough money to last them their entire lives.

(02:21): Now that's a big number, 30%. And so I always ask myself what happened to the 97%. Why can't those people retire with enough money to last them their entire lives. And I just begin to do a deep dive and a deep search and hear something that I found out. And it took me going into my own life and looking at what has happened in my own life. And I'm going to share a little bit of that with you guys. And I believe there's three major reasons why people cannot put themselves in position to have massive success. I'm going to share it with you, but I'm going to start dropping some dimes in there, here and there that also kind of add, add value to this conversation. And right now we are, we are in tax season and everybody is going to see their tax professional.

(03:16): Some people are getting a huge refund back, which I absolutely have. And I'll tell you guys why later, if you, if you get to become a client and know me, I hate tax refunds with a passion, okay? But people are going to their tax professional and people dread paying taxes. I understand, I feel your pain because I have put myself in a position where I definitely have to pay some taxes this year. You know, I'm not going to cry about it, but it's something that I have to do. It goes with the territory, but there's ways we can plan to reduce our taxes, but we can never eliminate our taxes without cheating and going to jail. But one of the things that just makes my skin crawl is when people go to their tax professional and the tax professional begins to question their financial plan.

(04:02): And here's my thing. I kind of don't mind them asking questions from a standpoint of, you know, what is it that you're doing? And what's working not from the standpoint of what are you doing? Who are you working with? What kind of fees are you paying? Why are, why are they doing this? And why are they doing that? And sometimes the clients trust me and they, and sometimes they forget why they're doing what they're doing. And they sit there and they tell the tax person, well, I don't know. I don't know. And it begins to sow seeds of doubt. And the tax person goes into things like, well, you don't want to be paying taxes and you don't want to do this. So you need to do this and you need to do that. And the client's sitting there and they're scared because they don't want to pay taxes and they don't want to get in trouble.

(04:38): My thing is this, you know, when they call me and they tell me things like this, I try not to get upset because I know a tax person is not a fiduciary advisor. They have no business telling you about long-term planning, any suggestion they make to you, you should run back by your financial planner. And then the financial planner in conjunction with the tax person confirms the idea. And then you guys can implement that together because it's the only way you're going to know you got to run the numbers and make sure that what they are telling you is in their long and your long-term best interest. But a lot of times it's not, you know, sometimes they'll come in and say, well, they said, you know, I'll save a few hundred dollars or whatever it might be. If I just put this money in a, in a, in an IRA, I'm like, wait a minute, $6,000 in IRA to save $300 in taxes.

(05:24): Wait a minute. That may not be a good idea. This is money that we're going to need for this. Remember you said you wanted to do this, this, this, and that. Well, if you do that, then it's going to hurt the plan. Well, we didn't think about it like that. Well, we're to the wise, when you're sitting with your tax person, you darn sure better make sure you have a financial planner and somebody you can go and run these ideas by that the tax person gives you because you only going to see the tax person probably once a year, but they're giving you advice that can, that can derail your whole entire financial plan and turn things on its head. So be very careful when you go to see your tax professional. And I, my word to them is please stay in your lane or work with another financial advisor.

(06:03): If you want to give people advice, make sure you hire an advisor or, or whatever, to, to bet that through. All right. So we want to talk about why is it that only 3% of the people in our country can retire with enough money to live for the rest of their lives. So I'm going to go at it at the 96%. Okay. Because the 3%, I think I already talked about them and why they're successful, but I want to talk about the 96%. And here's some things that you can do to make sure that you're not falling in that, that 96%, but, but what's happening with the 96%. Here's what I believe. Number one, it's based on how people are born, right? The position that they are, they're born into their situation in life. I'm not saying that it can't change, but what were they born into?

(06:51): Were they born into a family that valued education and that saved money to send them to college? Or were they, were they born into a family that was already barely getting by now? I am not saying this to put anybody down on this show. I want you guys to understand that because I was born into a situation and my family, they probably don't mind me sharing this, but you know, my mom had me when she was 20 only one. And you know, my dad was kinda like he was tripping out. You know, he, you know, they I think they, you know, so he was flipping out. And so it was a whole weird situation. And I was partially raised by him. Yeah, my grandparents, which my grandfather was a business owner. My grandmother also she worked in the hospitality industry. So they, you know, they taught me a lot of things and I had a decent upbringing, the most part, but a lot of times people are born into situations where it's absolutely hard to overcome.

(07:46): And I'm going to share with you guys what happened to me that allowed me to overcome and to move on from one level to the next level, to the next level. But sometimes people are just born with a bad lot in life, right. And they're trying to make the best of it, but it can change. The situation can change. And so if you know, friends out there who was struggling, struggling a little bit or people that, that may need some help, you know, send them my way and I'll see what I can do to help them. Well, here's one of the, the biggest things I see that keeps people and the situation that they're in and it's their decisions in life, the decisions they make in life. And it leads me to this. When you fall into a situation, there's two ways you can handle it.

(08:30): You can freak out and make decisions with knee-jerk reactions, or you can calm down, do your research search and try to make the best decision you possibly can. That will do a couple of different things for you because how you react and how you handle a situation is going to determine, and how good or bad things out things turn out. Sometimes you can make a situation, go from bad to worse because of an over reaction. And I think that's what was happening in the stock market right now. People are overreacting. They don't have a solid game plan. And I talked about investing how you need to have an entry point and an exit point, and you have to understand your risk tolerance and you have to have a risk mitigation system in place. But most people don't, they're flying by the seat of their pants, you know, and you do that.

(09:19): It can turn out really bad, but I've had some situations in my life that I think I've handled extremely well. And I have some situations that, that I didn't handle well. And so how they handle crisis is a very, very important thing. And I think that's why it's so important to have people that you can talk to people that you can go to and share with what your situation is and what's going on in your life, because that's the game changer and that's going to be the difference maker. So I want to talk to you about my life, right? I'm black. Well, here, I'm black. I still am black. I don't think I've changed my color at all. But at one point I was really overweight, right? I was happy go lucky. He didn't have a care in the world, but I was broke as crap.

(10:03): I mean, I was broke. I couldn't keep $5 in my pocket. And, you know, I was just kind of raised like that in my family had a hard time with money and money was always hard to come by. So, you know, it began to do things to me as I grew up and the way I thought about money. And as I came on adult, every time I got money, I spent it. And my whole mindset was, you know, I'm working for a paycheck so I can do what I want to do on Friday, which is, you know, goes to a bar, go to a club, you know, hopefully, you know, do what young guys do, spend money, waste money. And it was never ingrained in my mind that I needed to save money because every time I saved money, something would happen and I would have to help somebody out, or I never was able to keep anything in my pocket and it begin to plant a mindset in me.

(10:54): And so I decided that one day that I did not want to be like that anymore. I didn't want to be fat and broke. Okay. And so I was praying about this and God spoke to me and it set off a chain of events that change my life for ever. And being overweight was a very, very, very hard thing. And being in business and being overweight, people look at you a certain kind of way. And they think that if you're skinny, you're a good looking, you know, you're going to make things happen for them, but if you're overweight and you don't look all that great, and whatever, whatever you got, all these issues, it's kind of like people project that onto you and you may be a good person. And so I'm going to break up a little violin. And I was sharing with my wife, honey, I'm working so hard, I'm working so hard and you know, but it's just not happening.

(11:48): And she said, well, you're overweight. And I was like, I got mad. I got offended. I got highly because I'm like, I'm such a good person. I got so much to offer. And why are people giving me such a hard time? Why am I not getting new clients? Why, why, why? She said, because you're fat and people don't like fat people. I was mad. I said, what, what does being fat got to do with it? I work just as hard as anybody else. Why, why is being fat? A problem. And I came across this scripture and Bible and it's first Samuel chapter 16, verse seven. And it talks about man looks at the outward appearance, but God looks at the heart. And I told them, wife, if God knows my heart, she said, yeah, but people don't care about your heart. They care about other things.

(12:37): And right there, I had to make up my mind that I was going to change my appearance. And at the time I think I weighed 360 pounds. I was large. I wasn't just large. I was extra, extra, extra large. Right. I would go to the beach and, you know, take off my shirt and play with my kids. And I, everybody was like, Oh, there's, there's big Papa. There's biggie smalls. I was like, Oh my God. And I used to hate going to the beach. And I think I missed out on a lot of stuff with my kids here and there. But at one point I just said, I don't give a crap. I'm going to take my shirt off and let all my fat hang out and be able to laugh all I want. But only thing my kids are gonna remember is dad took me to the beach and we had fun that day.

(13:18): They're not going to remember all that other stuff. So I had to make it up in my mind. But even then that was no excuse. And so I had to do something major. I had to change my attitude about money and how I could attract, well, I had to lose weight. So I went on this thing and I started to lose weight. And I went from three 60 to three 40 to three 20, eventually a hearted personal trainer. And I lost more weight. And I think I've lost darn near a hundred pounds. And what God told me was the more weight you lose, the more money you're going to make. And I was like, what? I couldn't believe it. He said, yeah, just do it. Just obey me. Do what I'm asking you to do. The more weight you lose, the more money you're gonna make.

(14:02): So I began to lose weight and lose weight and lose weight and lose weight. I'm not going to say how much I've lost, but it did something to my, my money attitude. My attitude began to change. I began to have more confidence and that confidence when I exude that confidence, along with me studying and busting my butt and other areas, people became attracted to that. And I began to get more and more and more and more clients because I change my money mindset, which also allow me to help. You know, I change my, my, my thinking about my appearance, which helped me change my money mindset. And that's very important. So I want to leave you with three things. I want to leave you with three keys to improving your money mindset or your money attitude, because attitude determines your altitude. Number one is this.

(14:58): You have to associate and attach yourself to those with a positive money, mindset and attitude. And I've read something where it said that if you don't want to be fat, don't hang around fat people because you're going to pick up their bad habits and their bad attitudes. You know, friends are fat and you see them eating too much. Then you probably gonna start eating too much. I'm like, I, I, I understand where they're coming from. I totally don't agree with that because everybody has something to offer. Right? So, you know, I've been a fat friend to, to some skinny friends and some of their thought processes I could care less for, but I was on a journey to changing myself. But that, that was something I kind of didn't agree with. Right. But when it, it comes to finances. Oh, it's absolutely true. You have to associate yourself with people that have a positive mindset about it.

(15:47): Money, people that don't worship money, but they understand the purpose of money because friends are like buttons on an elevator. They can take you up or they can take you down. Number two, be generous. Now, understand some people don't have a lot of money, but generosity is an attitude. And first you be generous with your heart. It's simple. Give somebody a smile, hold the door and costs you nothing. Okay? Let somebody in. Don't cut people off. Just be generous with what you have because that's an attraction mechanism. Generosity is a, is an attraction mechanism because then you're going to begin to attract wealth. And then as you've rise financially with money, you'll have time and you have others. And then you plan to give those. Don't just Willy nilly, give them away. Cause I think I did a show on giving. You must have a giving plan.

(16:36): That's very important. And number three, you have to set a guard over your mouth. In other words, no negative money talk. Don't say I can't afford this. I can't afford that because that right there, that will repel money. Just, just, don't say those. I can't afford. If you have to say something, it's something like, I choose not to buy this at this time, or I will be able to have this someday. You're going to have to change the words that come out of your mouth. And if you can't say anything positive about money, don't say anything negative because that's the fastest way to repel and to reject money. And I had an incident, a situation this week where, you know, something happened to me and I was going to whole foods and a double level parking. And I R I usually park on the upper level because I don't want anybody to scratch on my car.

(17:37): I've always been like that. No matter what kind of car I've had, I've always parked away from people because I just can't stand some idiot, dinging my door for no good reason. Right? No matter what kind of car I've had, I've always tried to park away from people because I just hate it. So that's just my attitude and parked upstairs. And you know, had a difficult time finding the kind of spot I want it. But you know, there's this I think it was a Chevy trailblazer, one of the newer ones. And so I pulled in front of them, parked in the spot. Cause it was, you know, nobody on the right side and then nobody on the left side. And so, you know, I got out the car and as I was getting out of the car, the guy behind me got out of his car and it was funny because, you know, brothers, when we see each other, even if we don't know each other, it's kinda like we're long loss, you know, pal.

(18:21): And he said, yo, man, I said, what's up? He said, I'll trade your cars. And I said, man, look, I said, if I trade you my car for yours, I said, not only do you get to car, which you get all the responsibilities that come along with with my life. Right? And I said, I'm not sure if you, if you want this and here's something that struck me, a lot of people will look at you and they will not understand what it took to get, you know, from where you were me being fat and broke to where I am today. And it was because I had to change my attitude in regards to money. And this is something that I teach all of my clients all of the time. And so if you'd like to have a discussion with me about your money mindset and how I can hope you change it, give me a call (808) 521-4401. And let me help you get from where you are today to where you really want to be. So until next time everybody, one, two, three, let's get.

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