100. 7 Money Lessons that I wish I knew 20 years ago
Aug 27, 2024
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Celebrating a significant milestone, the discussion reflects on gratitude and the core principles of money, meaning, and self-mastery. Key financial lessons unveil the fluid nature of money and the necessity of multiple income streams. Investing and making wise choices are prioritized over merely saving. Insights reveal how a supportive partner can boost financial success, while toxic relationships hinder prosperity. The episode emphasizes using wealth for charitable endeavors, fostering a positive mindset, and the long-term impact of relationships on financial well-being.
To achieve financial freedom, individuals must actively seek to increase their income and create multiple revenue streams.
Mastering a specific industry is crucial for entrepreneurial success, enabling individuals to establish credibility and identify growth opportunities.
Deep dives
The Motion of Money
Money is constantly changing hands and is influenced by various external factors such as taxes, inflation, and cost of living. It is essential to understand that a static income will not sustain your lifestyle as expenses continue to rise. To gain financial freedom, one must actively seek ways to increase income and create secondary revenue streams. Embracing an optimistic mindset and focusing on problem-solving are critical strategies for attracting money, as businesses thrive by offering solutions in exchange for monetary compensation.
Delaying Gratification for Wealth
The ability to delay gratification and exercise impulse control is pivotal when it comes to wealth accumulation. Individuals often make the mistake of spending their newfound income on luxuries, which can hinder long-term financial growth. Rather than giving in to immediate desires, reinvesting earnings back into a business or savings can foster greater success over time. By maintaining a focus on long-term goals and avoiding unnecessary spending, one can cultivate a path toward sustained financial stability.
The Importance of Mastery
Achieving mastery in a specific industry is vital for entrepreneurial success, as it allows you to become a well-respected authority and stand out from the competition. Instead of diversifying too early, entrepreneurs should concentrate on developing a strong brand and exceptional skill in one area before branching out. This focus not only enhances credibility but also reveals new opportunities for growth within that industry. Once a solid foundation is built, successful entrepreneurs can then explore additional avenues for investment and expansion.
Holy smokes! We made it to episode 100! I want to give a special thanks to you all for consistently supporting the BK show. Without you, this show wouldn’t be where it is today. Since money, meaning, and self mastery is the foundation of the show, it only made to have the 100th episode about money… And how to make a TON of it!BEDROS KEUILIAN LIVE 2024 | September 13-14, 2024 in Scottsdale, AZ
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