Build Wealth Today By Asking These Questions | Anthony ONeal

0:00We just confirmed that Andrew Huberman is coming to the Summit of Greatness along with some other amazing speakers. We've got Dr. Tara Sward, Brendon Burchard, Gabby Bernstein, Amy Purdy, and some huge entertainers and performers. Make sure to get your tickets right now. Summit of Greatness is happening September 12th and 13th here in Hollywood. I can't wait to see you there. Hi, my name is Lewis Howes, and welcome to The Daily Motivation Show.

0:36What do people in their 20s and 30s have to deal with if they don't have those conversations in their middle school teenage years? That was me. You know, we're going to deal with the lack of a lot of information that's important. The lack of understanding. What I did at 18 and 19, I'm still paying for it today at 37 years. Really? Still? Absolutely. What things? I have collection items on my credit report. You know, every time I bought two homes, you know, over the last three years, I had to explain that. And I'm the money guy. Well, here's the thing when it comes to money. It will be all let's say, for example, you own that particular collection item and let's say you sell it to me.

1:19Now, I can put it back on their credit report for another seven years. So just because it was a 15 year old situation that I had, if it got sold to another company collection agency, it restarts the whole process over again. So I still have some items on my credit report from when I was 20 years old. And that's embarrassing because no one sat down with me and had the true conversation around what is a credit card? What is interest? What's the difference between a credit card and a debit card? No one sat down and had that conversation with me. My mama told me, you don't need a credit card. She just said, don't do it.

1:55She didn't explain to me why not. So without that education, I made poor decisions. Right. And when a credit card is so easy to open up and everyone's selling them to you and, hey, get this. You get a couple hundred dollars free when you open it up. Easy. Everything is about credit. And again, I'm not knocking people who go down that route. I don't do that route. I actually enjoy the freedom of waking up every single month and having the freedom of saying, you know what? I don't owe anybody. I just owe my mortgage. Yeah. I love getting into my car and I have no car note. I love going to the mailbox and excited to go to my mailbox because there may be a check in there, not a bill.

2:28No bills. You know? I don't know about you, but I remember every time my cell phone rang, if I didn't recognize the number, I didn't pick it up because those were collection agencies calling me. It feels good when my phone rings. I can. Hello. I'm proud to answer it. And think about it. If we can start having this education now, we should be seeing more 20 year olds being successful. Millionaires are being made now. If you're dropping the course or if you're sitting at home and you're playing video games, people are actually making millions online right now. But if we have the conversation with them now, we can see a lot more younger people really producing income.

3:03What else is keeping most people broke? You know, I have this. It's not my rule. It's a philosophy that go by 33 percent, 33 percent, 33 percent. The first 30 percent of people who are talking into you. So I think a lot of people, especially young people, are not really building wealth because they don't have the right people talking into their lives saying, hey, here's what you need to be doing. Here's what you should be reading. Here's what you should be investing into. so they don't have the right people talking into them. Then the next one is who are they doing life with? So if you're dating someone that is all about, Hey, I want to go here.

3:34I want to do this. I don't care if we have the money, let's finance it. And if you're have, if you have friends in your circle that are saying, Hey, let's go on this trip for spring break. Let's just take our student loan refund check and put it on there. Then that keeps them in a certain bracket. And then they're not really depositing anything into anyone. So for me, when it comes to, you know, the lack of building wealth pull you around. So the people that are depositing into you, the people kind of in your same sphere of influence, what decisions are you making together? Yep. And then are you depositing into someone else?

4:08And if you're not, here's the thing, we're just reduplicating it. If you don't have someone depositing into you, if you don't have someone you're doing life with on a healthy way, you can't deposit something positive into them. You have nothing to give. Exactly. You have nothing to teach, nothing to give. And you're teaching them. You're teaching them the wrong things. And so I have wise counsel that called me out on my stuff. You know, I have wise counsel say, you know what? That's not healthy. You're a good man, but here's some of your flaws. And so I think it's very important for all of us to have a group of people that can talk into us from different areas.

4:42Whether it's your money life, your relationship life, your business life, entrepreneurship life, career life, spiritual life, you name it. Whatever you value, whatever is important to you, you need to have someone wiser than you speaking into that. And you need to listen to them. Don't tell them what they should be telling you. Listen to them.

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6:05Again, have an amazing day and I'll see you tomorrow with another episode of the Daily Motivation Show.