It’s Boring, But This 5 Step Blueprint Is The Quickest Path To $1M

If you clicked on this video, you probably want to know how to never be broke again. Money and financial wealth

broke again. Money and financial wealth is a big part of this, but it's not necessarily the whole story. Sahil Bloom

went from Wall Street investor to one of the internet's most trusted voices on money and personal growth. And today

he's revealing the five types of wealth that create real freedom, success, and happiness, and how you can start building them from wherever you are. So

financial wealth, what do we need to know?

>> When, you, think, about, money,, we, all, know financial wealth as being about net worth, right? It's your assets minus

worth, right? It's your assets minus your liabilities. When I think of the

your liabilities. When I think of the most important principle for any young person to understand about financial wealth, it is that your expectations are your single greatest financial liability. What do I actually mean by

liability. What do I actually mean by that? If you think of your life and you

that? If you think of your life and you draw a chart of your reality with one line, this is like your actual growth of your reality of the life that you are living financially.

Your expectations ideally are going to be below that reality because the gap between these two I think of it as like your margin of freedom. The gap is your happiness. Your happiness is really

happiness. Your happiness is really going to be defined by the gap that exists between your reality on the top line and your expectations. Miserable

people always have expectations that are above their reality. Right? Those are

the people that are constantly wanting more and more and more, chasing whatever more the world has told them they should want, and they're not able to actually keep pace with that with the reality that they're creating.

>> So,, is, it, basically, being, grateful, for what you've got?

>> Is, that, is, that, another, version, of, it?

>> It's, about, being, grateful, for, what you've got, but also realizing that you have to live below your means particularly early on in your trajectory. I mean, if we're going to

trajectory. I mean, if we're going to think about it functionally, what it is to actually make money, I think this is important to understand. The way that you make money is by having a gap between your cash inflows and your cash

outflows. So early on in your life

outflows. So early on in your life hopefully you're kind of like this.

You're like, "Okay, I'm starting to build my income. This is going to be my income. Cash in, let's just say cash

income. Cash in, let's just say cash in." And then, you know, you want your

in." And then, you know, you want your cash out to be below that. This gap

between cash in and cash out is your most important asset when it comes to making money in the long run. This

sounds like common sense and people listening now probably like, "Oh, yeah okay, sure." But most young people that

okay, sure." But most young people that I meet get themselves a credit card debt and then that debt means they got to pay more and then they buy a car cuz they're feeling a bit depressed and don't like their work and then they got more debt and more debt and it's like this for the

for like the 20 years, the first 20 years of their life.

>> And, it's, even, worse, when, you, talk, about student loans and what colleges and things are charging.

>> The, first, experience, young, people, have in England anyway with money is debt and they're treating it like it's normal.

This this is not normal. what you just described should be normal, but it's not. It's like, hello, you're not making

not. It's like, hello, you're not making any money. Here's 100,000 US. I mean

any money. Here's 100,000 US. I mean

they'll give you 100,000 US to go to university. They won't give you 100,000

university. They won't give you 100,000 US to start a business, which could generate you income quite quickly potentially.

>> The, crazy, thing, to, understand, too, about debt, if you just reframe it in your mind to say, okay, if I'm being given debt to buy something, that is me buying something now that I can't actually afford. Right.

afford. Right.

>> Right., That, that, is, what, it, is., Right.

So, if I'm going to go use a bunch of debt to buy a car, that's a car that I cannot afford, then I'm taking debt. The

only way you should take on debt in my mind for a let's say a luxury purchase.

Take homes aside, that's a separate discussion. We can talk about that. If

discussion. We can talk about that. If

you're taking on debt, you should make sure that you can pay for the thing in cash twice over.

>> Then, you, can, make, the, decision, about, the financial arbitrage of whether or not you want to take on debt based on the interest payment. But for most people

interest payment. But for most people especially most people that are just starting out, it's not a consideration.

You need to just focus on cash in versus cash out. Create a gap because what that

cash out. Create a gap because what that gap is is your investable assets. That's

what you can take and put into things that are going to compound over the long run. That is how you achieve financial

run. That is how you achieve financial independence. It's not by doing anything

independence. It's not by doing anything fancy. It's by creating this gap and

fancy. It's by creating this gap and then putting that into basic things or putting that into a business that's going to generate you more and more income so that this line accelerates off the chart.

>> So, Dave, Ramsey, is, an, interesting, one because he always talks about he'd never take any debt and even if it was to buy a house or buy a property, he wouldn't take it. What What do you What's your

take it. What What do you What's your take on that world that that side of debt?

>> Look,, my, background, was, in, private equity. So private equity funds what

equity. So private equity funds what they do is they leverage buyouts is the name of it. You take on a bunch of debt to go buy a company. So I am someone who has come from a background where I am familiar with and understand maybe

certain use cases exist where debt makes sense like if I can take on debt especially in the earlier days when interest rates were lower. If I can take on debt at a much lower rate than the rate where I can get a return in the

market that might be a place where I would use it in a prudent amount. And

when I say prudent, what I mean is like don't take on so much debt that now all of a sudden you're in a cash strap position where you're constantly just paying all of your cash towards servicing this. I think there are use

servicing this. I think there are use cases for it. I think home purchases are one use case potentially for someone depending on where they are. In the vast majority of cases early on in your life

you should try to live debtree. The last

principle and I would say for most people the thing that they need to focus on early in their life and career is just the idea that the way you make

money is actually quite simple. That is

by creating value. Create value receive value is really the golden rule of making money. When it comes to creating

making money. When it comes to creating value the only things you need to be thinking about are really three things.

There are one identify problem, two is going to be create a solution and then three is just going to be scale the solution. Whenever I counsel any young

solution. Whenever I counsel any young person that wants to make a lot of money, that wants to be successful, I think you need to be focusing on one of these three things at all points in time. Anything else is just a

time. Anything else is just a distraction from focusing on one of these three. The more scalable the

these three. The more scalable the solution,, the, more, money, you're, going to make. The better the solution, the more

make. The better the solution, the more money you're going to make. and the

better the problem, the thing that actually people are suffering from. Now

you're focusing on solving problems for other people, doing something that is creating value for others, you're going to make money. This is where I think a lot of people get lost. They think that there's some sorcery to making money.

It's just one of those three things. The

last thing I'll say to that is there's a belief in a lot of young people that all of your efforts are going to be justly rewarded in the immediate term. So you

say like okay if I were to plot uh you know the amount of value I'm creating and the amount of value I'm receiving they should be like this perfect line.

I'm always getting as much value back as I am putting out into the world. That is

never true particularly early in your life. There are going to be times when

life. There are going to be times when you're creating a ton of value and you're not feeling like you are receiving it in return. But like any stock market when you look at stocks and a stock price there are times when price

and value are not perfectly aligned% right? There's times when the price of

right? There's times when the price of the thing is lower than the than the actual value of it. And there's times when it's going to be higher. No

different, for, your, life., You're, going to be creating more value than you receive.

Then there are going to be times later where you're receiving more value than you're creating. And what you want to

you're creating. And what you want to see is that over time that is going to even out. And so just keep showing up.

even out. And so just keep showing up.

Keep doing one of these three things and you will lead to a life of financial independence.

>> Such, good, advice., And, and, uh, I, was sitting here just nodding because I think it's so true. I one element I'd add and again feel free to tell me what you think but like you're so right you have to be persistent and follow through. This model is is partly

through. This model is is partly persistence because there's going to be weeks when you earn nothing as an entrepreneur I've spent three years earning nothing next to nothing and then one day I'm making a fortune and so I

think um if you look at any big successful business like Instagram they all made no money for a long time bought lots of value and one day the value is so high they can make a lot of money. I

think passion is required to follow through on these things. So that when you're identifying a problem, if you can make it linked to you personally, that's why you've written this book. This is

why you're doing this, why you're sitting here today for free helping me and the people that are listening because you feel this pain and you're passionate about the pain. Right?

>> My, only, push, back, to, this, idea, of passion is that you often don't know what you're passionate about until you create movement on that thing. I have

found that in my own life, I didn't know that I was passionate about certain things until I started doing it. Writing

is an example of that for me. I didn't

know that I liked writing until I started writing enough that I started to get better at it. And we know, you know we automatically like things more when we start getting good at them.

>> You're, talking, a, little, bit, now, about being happy as well. Like everyone wants to be happy all the time. Like actually

I had the opposite experience. I am not good at writing books. I'm not a good book writer, but I have knowledge and I voice clipped the book and someone wrote it out for me. And and the outcome of the book helping people is what I really care about, not writing the book. So

like I'm passionate about the outcome not necessarily the the solution. You

know what you're talking about, which I love, is I often think with anything where you need to be disciplined the mental or mindset shift that you

need to have is to pull the after into the before. Meaning, you know, you were

the before. Meaning, you know, you were passionate about the outcome. I want to go change lives. I want to impact people. I need to bring that into the

people. I need to bring that into the dayto-day when it's miserable working.

>> Be, unhappy, for, a, little, while, to, have, an impact that makes me feel happy later.

It's delayed gratification as well right? Next up, time wealth. Something I

right? Next up, time wealth. Something I

really love to talk about because people do not value their time enough. You

know, 97% of the population in America are making a living selling time.

>> You, don't, like, your, time, for, money trades?

>> No., I, think, there's, a, there's, there's stepping stones to life. I would rather you know, give my time away for free when I'm younger to get knowledge and then understand what my time is worth by selling outcomes, not time. But share

share with me what you know. This is

>> I'm, going, to, start, with, one, premise., You

are a time billionaire. A million

seconds. How long is that?

>> Don't, make, me, do, maths., That's, why you're here.

>> A, million, seconds, is, 11, days., A, billion seconds is 30 years >> right?, Wow.

>> right?, Wow.

>> When, you, are, 20, years, old,, if, you're, 20 years old watching this video, you have roughly two billion seconds left. If

you're 50 years old watching this video you have about a billion seconds left.

You are a time billionaire. You are

literally rich with time. If I came to you and I asked, would you trade lives with Warren Buffett? Right. Warren

Buffett, for those watching at home >> he's, actually, dead., So,

>> he's, literally, going, to, be >> he's, worth, $130, billion.

>> But, even, now,, I, I, would, give, all, of, my money, everything to be 20 again.

Absolutely. So, you you're richer than me if you're 20.

>> Yeah., And, we, don't, relate, to, ourselves this way. This is why it's so important

this way. This is why it's so important to think about time wealth. What you're

saying with time wealth is that time is your most precious asset.

>> We, spend, all, this, time, thinking, about money, right? No one wants to leave

money, right? No one wants to leave money on the table, but we have no issues leaving our peace of mind on the table. We have no issues leaving our

table. We have no issues leaving our energy on the table, our time on the table. When in fact, time is the one

table. When in fact, time is the one thing that we cannot get back. At the

end of your days, you cannot buy more time. You can do things hopefully to try

time. You can do things hopefully to try to prolong your life. Maybe Brian

Johnson would disagree, but the point is time is the one asset that you really need to focus on. And when you are young, this is the most important thing because the way that you invest your time in your early years is going to

dictate the outcomes that you can create in your later years. This was the realization, by the way, that changed my entire life. I was marching down this

entire life. I was marching down this one path. I was making money, but I was

one path. I was making money, but I was seeing all the other areas of my life suffer. And it was one conversation when

suffer. And it was one conversation when a friend pointed out to me that I was going to see my parents 15 more times before they were gone. That realization

sparked me to make these changes in my life to recognize that freedom that the ability to allocate my time towards the things I truly cared about was what really mattered.

>> I, actually, think, you, can, buy, time, but you have to apply yourself like for example you know Warren Buffett he said once that he actually has a private jet and the only reason he has that is because it saves him three hours every

time he flies because he doesn't wait with everybody else queue up. He

literally turns up gets on the plane and flies somewhere. So he he bought he

flies somewhere. So he he bought he bought three hours. I think that that's much more of a uh unlocking the time that already existed for the things that you actually want. So when I think of time wealth, that is time wealth, right?

That is to be able to say now I get to choose what I do with that time. I have

taken an action that has unlocked this time that I can now allocate. The thing

that I would say most people need to do as a starting point for unlocking time wealth. When you think of these time

wealth. When you think of these time formoney trades and the issue with a lot of our lives, the reason we all feel so busy is because we're all caught in this

fixed onetoone uh input to output loop.

So if I want to go create one unit of output, I need to put in one unit of input. And if I want to create 10 units

input. And if I want to create 10 units of output, I have to put in 10 units of input, right? So that's me working a

input, right? So that's me working a whole lot. That's me being very, very

whole lot. That's me being very, very busy. Now you think of someone else.

busy. Now you think of someone else.

Let's think of someone that has figured out a higher leverage way to work and operate. That person might be able to

operate. That person might be able to put in one unit of input and generate 10 units of output.

>> That, same, person,, if, they, put, in, the, 10 units of output or input, is going to generate 100 units of output. So this

person, they are the same amount of time allocated but a tremendously different outcome. And here they're generating the

outcome. And here they're generating the same output as this person with way less time input. That person can now decide

time input. That person can now decide what to do with the remaining nine units of time. If they want to go sit on a

of time. If they want to go sit on a beach and drink a pinina colada, they could do that. If they want to spend that time with family or in their health, they can do that. They get to choose. Or they could spend that time

choose. Or they could spend that time working and generate this enormous output.

>> What, other, practical, examples, can, we give people to make them understand in their lives how this how would they do this and not this?

>> This, is, all, about, leverage,, right?, This

is about finding the highest leverage thing within your ecosystem. So as you scale up in your own career, what you should be looking for, whether it's in a job that you're working or whether it's

in your business is where are the places where the unit of time invested can generate the outsized outcome for you.

Making a video has quickly become clear that that is the place. Doing a speaking gig is not right. You might get paid really well, but it doesn't have the same leverage. It can't get 10 million

same leverage. It can't get 10 million views., There's, only, a thousand, people, in

views., There's, only, a thousand, people, in the, audience,, so, it's, only, a thousand people, that, are, going to, see, it., videos

you've identified as the highest leverage place. So for you, anything

leverage place. So for you, anything that is not this is a distraction. You

should just be spending all of your energy on this thing because it's the highest leverage version of the work that you can do.

>> Similar, by, the, way,, when, I, go, and interview someone in the street, that is one-on-one, but because I'm filming it millions of people can learn the same lesson I'm about to teach that person in the street.

>> Yep.

>> So, it's, leveraging, the, one-on-one, to create this as well.

>> Yeah., And, the, version, of, that, in different businesses is going to vary right? But for let's say a business

right? But for let's say a business owner uh you know you're running uh an agency at home. Let's say you're running a video agency at home. For you to sit and edit the videos yourself is probably

going to be more of this onetoone right? It's going to be like I just have

right? It's going to be like I just have to put in time to go and edit these videos. As you scale that agency, there

videos. As you scale that agency, there are going to be opportunities where what you realize is well I could spend that same time that I was spending editing.

What if I put that towards uh prospecting new leads and I know that going out and doing one webinar where I'm pitching a hundred people at once on a webinar on the internet gives me a chance to get 20 hot new leads that

could come in and generate us $10,000 a month each in revenue. And now with the money that I'm making, the extra money I've actually outsourced that work to someone that's $2,500 a month. Well, now

I've separated myself from the 1:1 trade and I've put myself into the 1 to 10.

And that is what's going to eventually unlock this 1 to 10 million in the long run as you continue to scale it. The

mindset though is to constantly be looking for what are those higher leverage activities that you can be putting your time towards that are separating you from that one to one and getting you into that. The way that I visually think about this, by the way

is kind of a funny one. Have you ever seen Toy Story?

>> Yes,, of, course., So,, Toy, Story,, there's this like climactic scene where Woody and Buzz are trying to go catch up to the car, and they have the fuse and the rocket attached to them, and you know they're about to go and uh try to reach

the car, but he can't light the fuse cuz the match is out. And what he does is he takes um he takes Buzz's helmet, which is the glass, and uses it like a magnifying glass to take the sun and put

it onto the fuse and lights it. That is

what you really need to think about.

What he did there was he concentrated the sun's energy with this magnifying glass to get him 10 units of output for this tiny unit of input that he was getting from the sun. It took and concentrated the blast. That's what we

all need to do with our time and energy.

We need to put it towards those concentrated blasts to get those outcomes that we want. I love it. I I

think there's another thing as well linked to this which is like if I did edit for example, I'm so bad at it. It

would take me it would be 10 to one whereas there's someone that can edit and it's one to 10 for them. So like you I can do it but like accounts by the way I can do it but I'm I'm so slow it takes

my energy whereas there things that give me energy.

>> One, of the, ways, that, I, think, about, this a framework that people should use within their business and for themselves is what I call a pursuit map. So make a

grid that looks at energy on one axis and competency on the other axis. So

competency is how good you are at something. Energy is how much energy it

something. Energy is how much energy it gives you. So you'd go low energy here

gives you. So you'd go low energy here that's high over here, low competency here, high up there. Ideally, everyone

in your company is operating up here >> operating, in,, you, know,, what, might, be called the zone of genius. It's high

competency and it's high energy. You get

a ton of energy from the thing you're doing. And you are very good at that

doing. And you are very good at that thing. You don't want to be working in

thing. You don't want to be working in this, you know, sort of dead zone down here, which is going to be low and low.

And ideally, you're avoiding the trap which is the space where you have low energy but high competency. I would

consider this like, you know, sort of this like excellence trap. You're good

at something. So, people are patting you on the back, but you hate doing it.

You're never going to Yeah. There a lot of a lot of services jobs, right? Like

you're good at it, so you're in a track.

People are patting you on the back. It's

very easy to get stuck here, but what you ultimately want to do is be over here. If you can map this out with your

here. If you can map this out with your team, you can figure out what are the things that I suck at or that I have low energy for where someone else it's going to be in their zone of genius up here.

And then you can position people to work on those things. So when everyone's working here, a company thrives. If

people are working in these other zones it's going to be a real slog. Physical

wealth is just this is your uh this is your health and vitality, right? You

know, health is wealth. What good is having all the money in the world if you can't move around?

>> It's, the, old, analogy,, right?, It's, one thing you'll worry about is, you know how to get healthy again if if money will not fix it.

>> Yeah., It's, a, uh, a, healthy, man, wants, many things. A sick man only wants one thing.

things. A sick man only wants one thing.

>> Yeah,, exactly., That, was, a, saying, I, was trying to find. Thank you.

>> I, got, you., I, got, you,, man., There, are three pillars to building physical wealth. It is controlling your actions

wealth. It is controlling your actions across three things: movement nutrition, and recovery. What I found, I spent time with hundreds of the highest performers in the physical domain

right? Everyone from Brian Johnson

right? Everyone from Brian Johnson spending millions of dollars, uh, you know, to try to live forever to elite special forces operators to the most elite athletes that you read books about. All of them have these

about. All of them have these complicated, sexy, fancy routines.

Fundamentally, they all boil down to these three pillars. That is everything.

Movement. Are you moving every single day? I don't care what it is. you know

day? I don't care what it is. you know

walking hiking biking dancing running, whatever you like doing, moving every single day. Nutrition, are you eating whole unprocessed foods at most of your meals? Let's say 80% of your

meals. That's 17 out of 21 during the

meals. That's 17 out of 21 during the week. And then recovery, sleep. Are you

week. And then recovery, sleep. Are you

sleeping 7 hours a night? If you can do those three things >> on, a, consistent, basis,, you, will, be, ahead of 90% of people in the world in the physical wealth domain. You're

controlling the controllables. That

doesn't mean that you're not going to get struck by unlucky events, get sick have things happen, accidents, but it means you are controlling the things that are going to make sure that you're dancing at your 80th birthday party.

>> It's, really, not, rocket, science,, is, it?

Either this is such common sense, but I wonder if people listening are actually doing it. They We know this to be true

doing it. They We know this to be true but people aren't doing it. Why?

>> I, think, the, reason, people, aren't, doing it is because social media has cooked our brains about what it means to be healthy. And honestly, I I blame some of

healthy. And honestly, I I blame some of the gurus out there in this domain because what happens is the content you see about being healthy is the most

complicated fancy routines >> because, they're, going, to, they're, trying to sell you it. I can't sell you this program, right? I I can't sell you an

program, right? I I can't sell you an ebook on this program.

>> Just, like, just, sleep,, get, a, good, night's sleep.

>> Just, move, your, body., It, doesn't, matter.

It doesn't need to be a fancy routine or complex thing. Eat single ingredient

complex thing. Eat single ingredient foods, right? A thing where you can read

foods, right? A thing where you can read it like your grandmother would know this label. The challenge is for people is

label. The challenge is for people is that if you are just starting out and what you see is these complicated sexy routines, you're going to think, "Oh that's what it means to be healthy. I

can't do that." And it's intimidating.

So, you don't start. But if that's level 100, >> you, don't, need, to, worry, about, that.

You're at level one. Just focus on level one, which candidly gets you 90% of the benefit. And it's basically freely

benefit. And it's basically freely accessible to anybody. This doesn't

require an expensive gym membership or some crazy, you know, protocols and saunas and red light. You don't need to do all that until you nail the basics.

All right,, next, up,, social, wealth.

Relationships.

>> Relationships, are, the, single, greatest investment you can make. We have so much science that supports this. Now, the

Harvard study of adult development, this amazing study done over the course of 85 years. They followed,300 original

years. They followed,300 original participants and 700 of their descendants over the course of 85 years.

They found that the single greatest predictor of physical health at age 80 was relationship satisfaction at age 50.

Not your blood pressure, your cholesterol, not your smoking or drinking habits. How you felt about your

drinking habits. How you felt about your relationships determined your health outcomes. And yet relationships are the

outcomes. And yet relationships are the first thing that fall by the wayside when we get busy. We don't text that old friend. We don't get the group of

friend. We don't get the group of buddies together for the annual trip. We

don't call our mom. You know, we don't get together with that sibling. It's the

first thing we drop the ball on. We need

to rewrite the script on this.

>> What, are, the, areas, that, people, need, to think about that?

>> I'm, going, to, give, you, another, framework here that I love. So it's another one of these grids. This one is the quality of

these grids. This one is the quality of a relationship. So from let's say toxic

a relationship. So from let's say toxic on one side to supportive on the other and then the frequency of that relationship from low to high. So that's

how much you see the person. If you were to create this at home and write the names of the people that you can think of that are sort of within your sphere you're going to very quickly identify who are the great relationships, the

ones where you have very supportive and you see them a lot. That's amazing.

You're going to identify some relationships that you don't see enough but are very supportive that you ideally want to invest in more so that they go up here. You're also going to identify

up here. You're also going to identify some of these these really bad ones where you're a toxic relationship. The

person is very demeaning and you see them way too much. You got to lean away from those relationships. And then

you're going to identify importantly these sort of ambivalent relationships which are sometimes hot, sometimes cold right? They're sometimes toxic

right? They're sometimes toxic sometimes supportive. Science shows that

sometimes supportive. Science shows that ambivalent relationships are actually worse for your health than toxic ones.

>> Wow.

>> It's, kind, of, crazy, to, think, about., You

think like, oh, toxic relationships are the bad ones. The truth is that ambivalent relationships, those are the people that cause us to open up with their loving, supportive remarks, and then when they're in, that's when they

stab us. Those are the ones that hurt

stab us. Those are the ones that hurt the most. So if you can identify who

the most. So if you can identify who those people are, the ones where it's sometimes hot, sometimes cold, often a manipulative person, we need to remove those people from our lives. By the way

I've been married 23 years. So in

marriage, a long period of time in a relationship, you know how to get each other under each other's skin. I spent a lot of time making sure I'm not accidentally toxic with my wife. When we

were building our business together, um about 10 years in, she decided she didn't want to work in the business anymore. And I went toxic. I'm like, you

anymore. And I went toxic. I'm like, you don't, want to, work, in, this, business anymore? You know, we built it up

anymore? You know, we built it up together, don't you want? So, I become you know, high engagement. I was toxic.

I worked on this to make sure my relationship didn't get killed >> because,, you, know,, I'm, being,, she, trusts me, she loves me, and I'm accidentally being toxic. I'm not supporting her. She

being toxic. I'm not supporting her. She

wanted to change careers. She didn't

want to work in the business anymore and I switched it to supportive, and that's why I'm still married.

>> The, fact, that, you, were, able, to, have, the awareness of that in the moment when it mattered is the most important thing. We

often talk about awareness. Everyone's

like, "Oh, yeah, I know that." Right?

Oh, I know I should avoid toxic. It

doesn't matter if you know a thing in an abstract sense. It matters whether you

abstract sense. It matters whether you know it at the testing point when you can actually go and act on the thing. I

it doesn't it doesn't matter worth a damn if you know a thing in the abstract if you can't act on it in the moment when it really counts >> because, this, is, of, course, teaching people what they need to look out for but they might be themselves these

people and you can change. Can they move up? Can they move out of being an

up? Can they move out of being an accidental toxic person in someone's life? Yeah, there's this really

life? Yeah, there's this really wonderful framework um from Tyler Perry.

It was actually like originally his media character uh who said that there are three types of friends. There are

leaves, branches, and roots. Leaves are

sort of seasonal. They're there when the weather's warm and it's nice, but as soon as the wind starts to blow, they fall off the tree. Branches are a little bit stronger, but you don't want to count on them too much cuz if you lean on them, they might break. And then

roots are the people that are there for you across all of the seasons. They're

deep and they're broad and they're really going to be there in good times and bad. And the thing that we all need

and bad. And the thing that we all need to think about is that idea. Who are

your roots?

>> Who, are, those, people, in, your, life, that are going to be there for you throughout? And what are you doing to be

throughout? And what are you doing to be a root to someone else?

>> The, one, other, thing, we, should, talk, about with social wealth, which is really important, is status. Everyone always

talks about status, right? You're like

"Okay, well, where do I stack up?" And

you're trying to get to status. The

important concept that I would get across to people here is there are two types of status. There's bot status and then there's earned status. When we talk

about status, what we are seeking is the respect and admiration from others. Bot

status is trying to buy that respect and admiration through things, right? It's

the social club membership, the fancy car, the watch. You know, you're trying to basically impress other people with the things you have. the picture in front of the private jet that we all

see. Bot status is ineffective as a

see. Bot status is ineffective as a means of status. You are not getting the lasting respect and admiration that you think when you buy something because all that happens is people see you having

it, they imagine how cool they would look if they had that thing. They're not

actually impressed by you. And in fact even more so, the people that you are trying to earn the respect from aren't impressed by these fancy things, right?

like you taking a picture with a fancy thing doesn't impress the CEO of some Fortune 500 company. In fact, they probably cringe at that.

>> So,, chasing, bot, status, is, a, road, to nowhere. Earned status is status on the

nowhere. Earned status is status on the basis of things that have to be earned.

So, when I say that I think that a six-pack is a greater status flex than having a Rolex, that is because you have to earn the six-pack. There was a lot of work and energy that went into that

thing. You can't just go out and buy it.

thing. You can't just go out and buy it.

Building a business that is valuable >> is, much, more, effective, as, a, means, of acquiring status than winning the lottery.

>> So, when, people, say,, "Well,, money, gets you status." It's not true because

you status." It's not true because winning the lottery, you don't all of a sudden have a ton of status. Building

the business that's a billion dollars you will have a lot because you had to earn it. You had to go out and do it.

earn it. You had to go out and do it.

All right. Mental wealth. This is what you were referencing earlier, right? a

calm mind, purpose, growth, curiosity the ability to create the space in your life to engage with those things. That

is what we're talking about when we talk about mental wealth. It is about your own hero's journey, right? The the quest that you are on in life and recognizing that it doesn't have to be grand or

ambitious to anyone else. It just has to be yours. A few things that I would say

be yours. A few things that I would say when it comes to mental wealth. So, uh

the first piece as you're thinking about mental wealth is always going to be purpose. It's like, okay, people say

purpose. It's like, okay, people say like, how do I identify my purpose? What

is that thing that's going to really grab me? I think you should do that

grab me? I think you should do that pursuit map that we talked about earlier. I think that's a really good

earlier. I think that's a really good one to start. Then, what we often talk about and see is this idea of like a guy, right? It's it's the these three

guy, right? It's it's the these three overlapping circles. As I think about

overlapping circles. As I think about it, this is sometimes shown as four, but I'm going to tell you why I disagree with that. It's going to be what the

with that. It's going to be what the world needs, what you love to do, and what you're good at. So, let's just say

uh love, what you love to do, what you're good at, and world needs. Oops.

World needs. So, what does this mean?

What you love to do. You talked about passion earlier. What is the thing that

passion earlier. What is the thing that is pulling you? What are you getting energy from? What is that thing in your

energy from? What is that thing in your life? Write down all of those things. If

life? Write down all of those things. If

you're, going to, go, and, do, this, exercise, write down all of those things on a piece of paper. What are you good at?

Where do you have high competency? What

are the actions, the tactical things that you go out and do where people say "Man, that looked easy for you."

>> It, doesn't, have, to, be,, by, the, way, impressive. Like, if that's video games

impressive. Like, if that's video games you're really quick at figuring out video games. Write that down. It it

video games. Write that down. It it

doesn't matter what these are. Just

write it down. No judgment first. Just

write all the down. And then what the world needs. To me, the way that you

world needs. To me, the way that you define world is very important here.

Your world, if you were starting out early in your life, might just be yourself. You're like, I need to set

yourself. You're like, I need to set myself up. I need to get food, shelter

myself up. I need to get food, shelter security, like these basic things met.

That is what my world needs right now.

As you grow, as you have a family, your world becomes your family. It might be your wife, your husband, your kids, your parents, your local community. It starts

to expand. For someone like Elon Musk the world might literally be the world at this point. He wants to make the species interplanetary, right? So this

definition of what world is changes, but what you're trying to figure out here is who needs my service. When I'm gonna find my purpose, it's always going to be something that is grounded in the service of others in the long run. And

what the world needs is really important for figuring that out. Traditionally

when you see this in Western cultures there is a fourth circle, which is what I can get paid for that people put on there. The reason I disagree with

there. The reason I disagree with including that is because I don't think your purpose has to be your work. I

think it's fine if it is, but for a lot of people, they're going to go and do a job and do work that allows them to serve a higher order purpose. My higher

order purpose might be providing for my family. That is the thing. So, I can go

family. That is the thing. So, I can go and show up and do work that I might not be completely obsessed and tied to as a purpose in order to meet that higher order purpose. I might love my family. I

order purpose. I might love my family. I

might be really good as a caretaker for my family and that's what the world needs from me now. Well, my purpose is my family during this season of my life.

Again, this can change different seasons of your life. It's going to shift, but going through this exercise is the starting point for a life of mental wealth. I think it's a a levels thing.

wealth. I think it's a a levels thing.

You know, like if we're talking about Maslo's hierarchy of needs, right?

You're like, okay, it's this pyramid.

And at the bottom is kind of baseline needs, right? You know, you have

needs, right? You know, you have >> pay, the, rent,, pay, the, food, >> yeah,, food,, rent,, security,, etc., At, the top is like, you know, typically it's self-actualization. So, that's like when

self-actualization. So, that's like when we're talking about purpose. A lot of that is like okay meaning purpose that'll, be at, the, top, of, this, pyramid.

There are a lot of people who are going to live at this base for a long period of time as to where they >> what, the, issues, are, that, lead, to, that, is kind of separate from the reality of it

though in my mind. And so what what I mean to say when I say this is I think that for some people it is not realistic in the current season of life for them

to say I'm leaving my manufacturing job that I don't like because I'm going to pursue my dream right now. It is very possible that you can take actions right now that are going to lead to enable you to go and pursue your dream in your next

season of life. But sometimes the reality of the current season dictates that I need to create that gap, right that we talked about earlier, the gap that's going to allow me to pursue my dream later. So now I'm focusing on

dream later. So now I'm focusing on this. I'm going to get through this. My

this. I'm going to get through this. My

purpose is going to be providing for my family and creating that gap between uh cash in and cash out so that I can go and pursue my dream in my next season of life when my kids are a bit older. The

most important thing, right? We've got

our two books here. The most important word you've got dream highlighted.

>> Yeah.

>> My, book.

>> I, saw, that., Yeah.

>> Right., Same, thing., I, would, say, the, most important word is the your ins. It is

your dream. Right. It doesn't have to be so impressive to other people. Most of

us when you ask people what their dream is, you start going into this, well, it has to be so impressive to other people.

It has to be yours.

>> I, completely, Someone, told, me, the, other day, their dream is to travel. I'm like

brilliant. Just do that.

>> You, know,, I, that, is, such, a, good, point., I

think people need to know what's good for them. However, it's that whole Steve

for them. However, it's that whole Steve Jobs thing >> or, like, Henry, Ford, once, said,, if, I, asked people what they want, they would have said a faster horse.

>> Right?, So,, there, is, something, in, like making sure people are aware of their full potential. Now, if they're happy

full potential. Now, if they're happy with what they got, I totally get it. In

my book, by the way, I have a disclaimer. If you're enjoying your

disclaimer. If you're enjoying your life, don't read this book >> because, if, you, if, you're, enjoying, your life,, I'm, going to, disturb, it., If, you are if you are unhappy with your work you feel like there's more, read the book. And I'll tell you, a lot of people

book. And I'll tell you, a lot of people have told me they stopped reading the book in chapter one because of that warning. But I think it is I a

warning. But I think it is I a responsibility of us that know to make sure people are aware that they could do more. And don't worry about figure out

more. And don't worry about figure out your purpose straight away. But at

least, you know, ask yourself, what do you really love? What are you really good at? And try to make that happen in

good at? And try to make that happen in the middle. Right? You're an awesome

the middle. Right? You're an awesome human being. Your book is amazing, guys.

human being. Your book is amazing, guys.

You got to link down below. You got to go buy this book. We couldn't cover it all, of course, in this podcast episode today. It will help you in your life

today. It will help you in your life live your dream. That's why I'm sitting here today talking about this because I know it's going to help you live your dream. We're off to have some chicken

dream. We're off to have some chicken now, so don't bother subscribing. See

you later.