Build Wealth Today By Asking These Questions | Anthony ONeal EP 257

0:00Hi, my name is Lewis Howes and welcome to the Daily Motivation show.

0:10I firmly believe that taking charge of your mindset allows you to be in the driver's seat of your life and unlock your potential. And that's why I'm thrilled to share that my new book is out right now. It's called The Greatness Mindset. In it, you'll learn how to build a plan for greatness through powerful exercises and toolkits designed to propel your life forward. This is the book that I wish I had 20 years ago. It's everything I've learned in the last decade with the research and the science to help you unlock your mind. Make sure to go to lewishouse.com slash 2023mindset to pick up your copy of my book, The Greatness Mindset, today.

0:52What 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 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'll be all let's say for example you own that particular collection item and let's say you sell it to me now 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?

2:01What 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. She 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's 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, I don't own anybody I just owe my mortgage.

2:35Yeah, I love getting into my car and I have no car note I love going to the mailbox and and excited to go to my mailbox because there may be a check in there No, no bills, you know I don't know about you, but I remember when 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.

3:13But if we have the conversation with them now, we can see a lot more younger people really producing income. What 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.

3:44Then 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 I want to do this and I don't care. We have the money. Let's finance it And if you're have if you have friends in your circle that say 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 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?

4:20Yep. And then are you depositing into someone else? And 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. So you have nothing to give. Exactly. You 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.

4:58Whether 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.

5:25Thank you so much for listening to today's episode of The Daily Motivation, and I hope you have an amazing rest of your day. If you enjoyed this episode, make sure to click the link in the description. that will take you to the full episode of our main podcast on the School of Greatness. And if you are loving the daily motivation, please follow us over on Apple Podcasts and Spotify and leave us a review over on Apple Podcasts right now. And if you want more exclusive content and ad-free listening experience, make sure to subscribe to our Greatness Plus channel on Apple Podcasts right now. And if you want to get even more inspiration from our world-class guests and learn how to improve your life and take it to the next level, then make sure to sign up for the Greatness newsletter and get it delivered right to your inbox over at greatness.com slash newsletter.

6:21Again, have an amazing day and I'll see you tomorrow with another episode of the Daily Motivation Show.