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Creating wealth is a mindset — and it starts when you’re broke.

If you don’t learn how to save and invest your money when you’re strapped for cash, then you’ll blow all your money down the drain when you start making more.

In this episode, I’m sharing why you need to start acting like you’re wealthy before you are, how automation saves you from wasting all your money, and two easy steps to becoming massively wealthy.

Here Are The Show Highlights:

  • The true baseline foundation for creating wealth (that has nothing to do with how much money you make) (1:03)
  • The “Dirt-Broke Method” for building wealth when you don’t have a penny to your name (1:28)
  • Why you should rob yourself of at least 10% of your monthly income or you’ll never become wealthy (4:05)
  • The weird reason that touching your money is a surefire way that you’ll waste it (5:28)
  • How to create a brand new income stream with as little as $5,000 dollars (6:36)
  • Why waking up and feeling broke is the single best way to riches (8:41)

For wholesaling hacks like I shared in this episode, head over to http://easywholesalehacks.com and check out what’s available.

If you're ready to put the power of wholescaling to work for you, then head over to https://JoeEvangelisti.com/downloads to get your free “Business In A Box” downloads.

Or if you're a true action taker, ready to blow the lid off your results. You can apply now to work with our team to build the business of your dreams faster than you ever thought possible. Go to http://realestatemoneymindset.com to apply and change your life.

Do you want to become a successful wholesaler and help support the show? Then, share this with two people and go to wherever you listen to podcasts, subscribe to the show, and leave a 5-star rating and review. We will pick one of the top five star comments and give away free swag and goodies.

Read Full Transcript

You're not a rookie real estate investor anymore. In fact, you're probably doing a small handful of deals each month, but you're killing yourself to make it happen and to top it off, if you take time off from your business, you don't make any money. That's because you don't have a real business, yet. We're about to fix all that. If you're a can do action taker, the whole scaling podcast will teach you the tips, tricks, and systems you need to generate massive revenue, build your team and give you the financial freedom you've dreamed of in any market in the US. This is WholeScaling.

(00:42): So you want to be wealthy. You want to create real wealth. You want to have forget being rich for a minute, right? How we create real wealth for ourselves. Well, there's two things that go into this and I can talk about this for hours, but I want to give you some quick highlights about things that can absolutely help you instantly, because most people want instant results. You would probably like most people, right? Long term, these things are going to make you wealthy, short term. They're going to make you immediately start planning and acting like someone who's wealthy, which is really the baseline foundation of creating wealth. He's acting like the wealthy. So how do I, how do wealthy people act? Well, for starters, they create automation. Now, how do I remember this? 20 years ago, 25 years ago, when I went into the military, I started an account with Navy federal credit union.

(01:31): I remember at the time I think I was dropping in a hundred bucks a month in my savings account. I was also making dog shit as it didn't come. So a hundred bucks a month was probably a lot of my money, right? I consistently put a hundred bucks a month in my savings account. And I did this for years and years and years, and years and years, I still do it to this day. That same a hundred dollars comes out of there. Why? Because created a process and system that I don't miss. Okay. So automation is the key to wealth building. You have to start with automation. Now, the problem with that particular automation is taking money from checking to savings. When the times are tough, what do you look at? Well, I still look and see that I have a bunch of money in my savings account.

(02:14): So then I, little, my checking is I just keep stealing from it, right? So it might take me 12 months to put 1200 bucks in that account. But the day I need some kind of $2,000, whatever, big money, then I'm just going to steal it right out of my savings account. It completely negates the whole point of process, right? So like I said to you, even though I still do it to this day, there are times over the years that I stole it back from myself. So automation is one. The second piece, the automation is making it difficult. I remember back in the day, maybe a couple of years after this, the first story I N G directs came out, right? I forgot they call it now. But when I in G direct came out, they had this checking or money market account that was paying like six, 7% interest.

(02:54): So my next level was I started making good money. I started working at the defense agency at the time, and there was actually a ING direct bank in the building, which was cool. And what I did was I created a mutual fund in our money market there. And I started putting two 50 a month into that right now, big spender, big money. And I remember putting it in there, but that thing was making so much interest. It was crazy. I had $10,000 in there and I made 700 bucks, right? So over the course of time that automation happened. Now I N G died and I had to roll it over to something else. But the automation principle stands guys. So even though I told you the negatives of it, just doing that one thing is a massive stark taking a piece of what you make, putting it away.

(03:39): One of my mentors taught me years ago that if you want to be great at charity, if you have $10, or if you have a hundred dollars, you're willing to give 10. If you don't have the ability to give 10, when you have a hundred, you're not going to give 10 million. When you have a hundred million mindset, right? Giving is the most important piece. No matter what level you're at, it also happens with savings. The savings is the most important thing. No matter what level you're at, I don't care how much money you're making. If you can't put away 10%, what you make 5% of what you make. 2% of what you make. Remember, it's the mindset. It's the principle behind it, putting something away automatically, by the way, again, I can't emphasize this enough. You can't manually move it. I don't care. If you set a reminder in your calendar, you're not going to do it.

(04:24): Okay? There's going to be an excuse. There's going to be a thing that stops you from doing it. The automation magically, the automation, you don't miss it. You make up for it. If you're a hundred dollars short, find a way to put it back. You decide not to go to dinner that night, or you don't spend it on your, you know, going out drinking, right. That extra a hundred bucks is now in your savings. You can't touch it. You want to ultimately try to automate it and put it somewhere where you can't touch it. The piece of the ING story that I missed was that I had a hard time accessing it. It was a different account. So my money went into my checking account at Navy federal, and then they sucked. They siphoned two 50 a month out putting my in G account.

(05:01): It's hard to get to. I had a special logging. I had to use double verification 20 years ago. That was a big deal. Right? I always forgot how long in which was awesome, right? Because at that point I couldn't touch it could mess with it. Now, if I want to take the money out, for some major reason, I had to literally initiate like a wire transfer to my checking account. Wait, two days. Right? So you want it distant from you. You want it to be away from you. So automated and away from you are the big key factors. Guys. If you have a hard time touching it, you're less likely to fuck with it. So step two, which makes most people uncomfortable, just the thought of it, but you won't have step two until you do step one. Step two is invest. What's in those accounts.

(05:42): Okay? You know, you heard me say, create the distance between your primary checking and your investment account, your saving account, whatever it looks like, get it away from you. And then once it's away from you and it lumps up, find great investments for it. Okay? Now, with some of you that might be starting different businesses, starting a different department, investing it back in yourself, some way, shape or form, maybe in a mastermind or coaching program, investing it in another person, creating notes, creating opportunities where you can make great interest on that money, right? Maybe it's arbitraging and into a retirement account. Roth, IRA, something that's self directed to where you can still again, arbitrage. And again, this is next level playing. When you hear people say that the wealthiest in America have seven, eight or more streams of income. This is why you can create a stream of income with something as little as five or $10,000.

(06:39): If it's invested properly, you can create a stream of income by investing in another business, by investing another person by adding other businesses to your portfolio. See me over the course of years, I started flipping houses. I would take lump sums, save them up, put them in the account. And then another business opportunity came along. The email business. For example, I invested hundreds and hundreds of thousands of dollars to build that business, which now kicks off six figures a month in revenue and will grow. But it came from having the principle to invest. It came from having the money saved up to put into that business. The seed money to get going. You can't do step two, unless you do step one. It takes step one. Plus time equals step two. You'll start to build up automated savings. You start to make money with that savings.

(07:27): You start to find ways of Crick bull moving to step two. Once I ever have an account that has 10,000, 20,000 or more in it, in my investment savings, I'm doing something with that, moving it, manipulating it, creating with it. I'm finding opportunity. This is why they say people in our position, visionaries I'm talking about are the best stewards of money. Look, sometimes you're going to put money to work and then you're going to burn it. It's not going to work. Sometimes you're gonna put him into work and it's in the ROI is going to be a mince. The fact is you as the entrepreneur, you, as the visionary, you as the person with the big ideas, have to gamble on yourself. Sometimes that means investing in a coach. Like I said before, getting yourself in front of the right people in a mastermind, going to an event, that's going to change the game for you. It's going to create opportunity and conversation. When you had that conversation, you need to be able to back it with some finance backing, with some cash, be able to come into the conversation, knowing you can invest into that thing. Right? My team's working right now on investing into a large marketing campaign. We're talking six weeks.

(08:29): Here's a month spend on it,

(08:31): Creating more revenue, but you need the six figures put in, right? You've got to set it aside to have it to reinvest. So step two is constantly be investing, always be invested, right? Always be finding ways to wake up and feel poor because your money's in motion, not in your account. That's what we're looking for. We're looking for you to create more opportunity out of the money you've saved and wear many hats. It's going to be different for a lot of you, right? Maybe it's the stock market, not my personal favorite, but I like to work on new businesses. I like to work on investing on stuff that I know I E real estate notes. People I know in the game that are going to take care of that money like their own, right? And again, opportunities within my own companies. That's going to help you level up. That's going to help you create the multiple streams.

(09:18): If you are ready to put the immense power of whole scaling to work for you, then head over to Joe evangelists.com/downloads and get your free business in a box download. Or if you're a true action taker, ready to blow the lid off your results. You can apply now to work with our team, to build the business of your dreams faster than you ever thought possible. This call costs $500 to weed out the tire kickers, a mental masturbate, a feed. The real ballers will make back many times over on the first deal. Even if you don't get selected to work with us, you'll get a full year of access to our private coaching group, a $1,200 value and a 30 minute coaching call with Joe. So you win either way, go to www dot real estate money, mindset.com to apply and change your life.

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