It seems like every month I see an athlete, musician or actor in financial trouble, despite all the money they made.
Part of that is because many entertainers, despite being extremely talented in one area, are still operating with a consumer’s mentality, instead of a producer’s mentality. A recent study showed that as many as 80% of former NFL players go broke.
Or in the case of Nicholas Cage and many others, they hand their money over to “money managers” and accountants without keeping an eye on their assets and end up in bad deals and having their cash stolen.
Or they get legally married without a prenup. That mistake cost Michael Jordan $160 million in his divorce. Rupert Murdoch lost $1.7 billion, that’s billion with a B.
Or they end up on the wrong side of a lawsuit without having their assets properly protected.
Even saavy entrepreneurs lose cash when they pick the wrong partners or wrong investments. I can think of two friends who have lost a lot of money putting their cash into the hands of the wrong people.
So many guys kill themselves to get rich through their business or skill, and then blow a fortune trying to make that money work for them or not properly protecting that wealth.
The golden rule when it comes to investing money is don’t lose money. That’s why wealth protection is so important and has to come before appreciation.
Check out the video and audio to see why it’s so important to protect your wealth and why you need to be in complete control of your own financial destiny.
Ex Trader's Thoughts On Wealth Protection And Money Managers - YouTube
Ex Trader's Thoughts On Wealth Protection And Money Managers - SoundCloud (1249 secs long, 57 plays)Play in SoundCloud
Unless you’re an enlightened being, you have an ego.
People that tell you they do things without ego are lying, every human instinct is toward pleasure and away from pain.
Even if that instinct is charity, you still get a payoff for helping other people, in fact helping others is one of the best ways to be happy.
I don’t like the word ego, I think it’s inaccurate, a better term is your self, but I’ll use it here as it’s term people are familiar with.
The bulk of the ideas in this video and audio come from the Treatise On Love and incredible essay on human behavior through the lens of ethology, or the study of animal behavior applied to humans.
For the sake of argument I’ll use the authors terms of egotist or a person who is aware of their place in the world and will fight for it and an egocentric, a person who literally, although mostly unconsciously, acts as if the world revolves around them.
Most people tend toward one pole or the other, with the worst people in the world at the extreme ends of each pole. The defining feature of both the extreme egotist and extreme egocentric is low empathy. With that said, all of us tend to swing towards one pole or the other.
Understanding these concepts are important for understanding people and being able to see how people relate to the world around them. Check out the video and audio below as well as the bullet point summary:
How To Understand People: Egotism Vs Egocentrism - YouTube
How To Understand People: Egotism Vs Egocentrism - SoundCloud (2041 secs long, 108 plays)Play in SoundCloud
Summary: Egotism Vs. Egocentrism
I don’t like either the words ego, egotist or egocentric, but they’re the best maps I have on this topic. The key point of understanding is in how people relate to the world and their place in it.
An egotist understands people well but still puts themselves above others, it is an attribute of high rank
Men tend to be more egotistic in general (definitely plenty of egocentric men however)
An egotist looks at the world as a place to fight for his material interests and how he ranks against others
An egotist can self evaluate and see where he stacks up compared to other people
Egotists have a much more realistic view of the world through understanding other people
A person who tends towards egotism can also understand the emotions of other people
Egotists will have much better success in sales, business, athletics etc.
Low empathy egotists are the Stalin’s and Mussolini’s of the world
They understand the suffering they cause to people, but believe it’s necessary
Egocentrism is inability to WISH to put yourself in another person’s shoes
If men tend towards egotism women tend towards egocentrism
The true egocentric only thinks about the world from their own perspective
Therefore they have a bad understanding of other people and what motivates them
They see themselves, mostly subconsciously, as the center of their own universe
The easiest way to see what this looks like is by watching children, children are egocentric
Children until the age of 5 rarely ask why
Egocentric people don’t ask why and don’t have a great curiosity about the world
Most people grow out of egocentrism when they hit their teenage years and develop social awareness
Some people don’t, an extreme egocentric person has little understanding of other people
For an extreme egocentric person, other people are just characters in their reality
Egocentric people assume the world is as concerned about their problems as they are
These are the people that cut the line in the supermarket and explain that they’re in a hurry
Egocentric people don’t notice the inconvenience because they don’t think about others
If attacked “how can you do this to me?”, “why are you being so mean to me?”
An egocentric person can have empathy for others but still not understand the effects of their behavior on other people
They can read gestures and emotions, but they can’t and don’t have an interest in other people’s inner worlds
An egocentric person is in love with their own inner world and therefore the mirror
Low empathy egocentric people, much like low empathy egotists feel very little guilt
Egocentric people are more likely to succeed in the arts as opposed to business
The partnership of Kanye and Jay Z is a good example of egocentrism vs. egotism (not saying either of these guys are bad guys). Kanye is extremely emotional and uncalibrated, he believes he’s the Steve Jobs of his generation and can’t understand why other people don’t see him the same way.
Jay Z is the opposite, a cold and calculating player in the game of life. He has a great understanding of people and social cues. He knows how to get people to do business with him and he knows what image to present to the public based on who he’s dealing with. You will never see uncalibrated emotional rants or tweets from Jay Z.
Understanding how people relate to the world is important. It’s also important for you to understand yourself, because it will be very hard for you to succeed as an egocentric person. Being able to sell to them is a crucial skill in the game of life and that means understanding people as well as how your behavior affects others.
I’m not saying to become an extreme egotist with low empathy (that’s not even possible unless you come from an abusive childhood and are already there). I’m saying to have empathy and be ethical, but also understand that a large part of success comes from understanding people and selling to them.
It also comes from knowing how you stack up compared to others and how to improve. When you take an egocentric view towards dating for example, it becomes very difficult to get what you want. As opposed to honestly assessing your sexual market value, assessing your game and comparing how you stack up to other guys – this is how you improve.
We live on an economic planet. For you to be able to live the life you want, with an abundance of health, wealth, women and freedom you need to get paid. Unless you get financially free, you’re going to be hamstrung in every area of your life.
To get and keep wealth you only need to understand one basic principle: produce more than you consume. And the wider the gap between your production and your consumption, the faster you’ll be able to get and keep wealth.
You can’t get rich and think like a consumer it’s just not possible. Thinking like a consumer is leaving angry, poorly written comments on the Google app store, because the latest version of Google Maps doesn’t work 100% perfectly on your new Samsung Galaxy. There are literally millions of angry comments on the app store and I guarantee that none of those people are either a producer or successful.
A producer doesn’t leave angry comments because a producer knows that screaming in all caps, in the general direction the app store is not the way to get his problem solved. A producer knows that reaching out to a businesses through their customer service department or hiring someone to solve the problem is how you get things done.
Being a producer is about understanding the game. It’s also about patience and being able to delay gratification. Instant gratification is for consumers: the hot sale, the emotional appeal, the time sensitive giveaway – all of that is for consumers, and sold to them by producers. Waiting all night in the freezing cold for the new pair Jordans – consumer behavior.
And consumer behavior is a shortstop to working a job you hate and living paycheck to paycheck to survive. Consumer behavior is about mortgaging your future for things you want today. Consumer behavior is short term thinking.
Producer behavior is long term thinking. Producers want that long money and have the patience to persist in getting it. Producers know that to keep getting that money you need to keep producing more than you consume – no ifs ands or maybes.
If you can’t keep producing more than you consume, you’re going to lose what you have. There is no neutral in this game of life we’re playing. That’s why most lottery winners and many athletes end up broke after those big paydays stop coming in.
Because they were never producers to begin. They were consumers who hit the jackpot and broke their neck to give that money back to the producers of our game. The universe did a quick accounting check, noticed some irregularities on the books, and promptly took the money back.
Because consumers outnumber producers 99 to 1, there will always be a market for the few, brave reality creators in our marketplace of ideas.
The key to getting yourself into the productive class is solving problems for consumers. Steve Jobs solved a problem most people didn’t even know they had and he did so on a massive scale. His reward was influence, money, a legacy that lives on beyond his death, and his jersey forever hanging in the pantheon of greatness.
It’s simple, but not easy, that’s why 90% of businesses fail. And it’s why I recommend a sales based service business in a proven market. If you’re exceptional you can try reinventing the wheel, but for most guys the move is finding a problem in a proven market, selling the service that solves the problem and scaling up from there.
You can always expand your revenue streams as you grow, but you need to get out of the consumer class first, and that means you need to have a business where you produce your own revenue.
The truth is the world is made up of producers and consumers, but consumers outnumber producers 99 to 1. Most work jobs they don’t like so they can eat off of a producer’s table and just barely make ends meet.
That’s not to say I don’t respect people who work jobs, I do. I respect the janitors, factory workers and garbagemen of the world. I respect people that work hard and thankless jobs so we can live comfortably…
But I won’t be one, and if you want the good things in life you can’t be either. I’ve been at the bottom and I’m not going back. If you want to get to the top you need to put in the work to become a producer.
The truth is you have to become a slave to success, and success a merciless master. You don’t get there by spending all your money on what you want this moment. You get there by giving OTHER PEOPLE what they want.
Being a producer is about giving other people what they want FIRST so you can EVENTUALLY get what you want. It’s about giving more than you take. It’s about adding value to as many people as you can.
People only love you as far as the value you can create for them. To be a producer means you deliver value day in and day out and you give more than you take.Being a producer is about being on your game every day.
While everyone else is out partying, you’re producing. Where everyone else is spending money, you’re saving money. Where everyone else is watching the movie you’re behind the curtain producing it.
Sure you can still go to the movies and enjoy yourself. And you can still spend money and have fun with your friends. But you can’t consume more than you produce, that’s a one way ticket to poverty.
If you want the live you deserve you need to become a producer. That means solving problems, putting your clients first, delaying gratification, and reinvesting in your money machine.
When you do all that you can consume whatever you want without putting a dent in your budget. You can have the life you want but you have to be a producer and you have to be patient.
So keep grinding, keep pushing, keep shoving, keep saving, keep reinvesting and keep producing.
And most importantly never ever, quit until you get the life you deserve.
And ideally you want to get to your destination as quickly and efficiently as possible.
The straight line isn’t the destination but it’s the best mental map I’ve found for getting where you want to go.
On that straight line you will find many obstacles in your way:
1st is Time: distance can only be covered in time
2nd is Space: to get somewhere requires you to move through physical space
3rd is Skills: skills you don’t have that you need to learn
4th is work: that you’ve done
5th is disagreeable people: people that will sabotage your mission
6th is doubt: and doubt is by far the most dangerous because doubt can convince you to walk off the straight line
With those 6 points in mind, imagine you’re at Point B right now, you decided on the destination you wanted to go to and put in the time, moved through physical space, developed the needed skills, done the hard work, cut off the dreamkillers and not allowed doubt to take you off the straight line.
When you’re defining your destination, or mission, you want to be as clear as possible. That could mean getting pictures of the office you want to work out of, the money in your bank account, the way your body looks, where you want to live, or all the above.
If that means finding pictures online, printing them and putting them on your whiteboard, then do that. The clearer your picture of the destination you want to go to, the easier it will be to get there. Just like you would use Google Street views to see a picture of where you want to drive to.
And you need to get your mind to where you’re not only certain that Point B exists, but you’re certain that you’re going to be able to drive there. Because certainty is the key to getting where you want to go.
If you doubt that Point B exists, you’ll never be able to get there. If you doubt your ability to drive to your destination, and allow that doubt to drag you off the line, you’ll never get there.
When you’re truly serious about your mission, it’s do or die. Elon Musk says he’s going to take us to Mars or die trying.
You don’t get to your destination with doubt, you get there with certainty. And you get there with the right maps, and through modeling the right people. Find the guy who is where you want to be, backwards engineer what he does, and use his map, just like you would use Google maps on a long journey.
But uncertainty isn’t suited to a mission. A soldier doesn’t stop fighting until he is victorious or he dies. You need a closed mind to accomplish your mission, because when you indulge doubt, you allow yourself to be taken off your path.
That’s not to say doubt won’t come up, and won’t continue to come up every damn day, you just have to push to keep pushing it off your path.
And not just your doubts, but the doubts of disagreeable people in your life, you can’t get to your destination when you let someone in your car who is trying to drive from the backseat and give you bad directions.
Disagreeable people will get in the way of your mission and make obstacles of themselves. Agreement is reality and people that disagree with your potential need to be pushed off your path. Because their disagreement can only add doubt to your mission.
When you’re committed to a mission, don’t let doubt stop you, instead only let death stop you. Because that just simplifies things, you can’t consider quitting because quitting is just not an option.
You can’t fail when you don’t quit, you can only die trying to get to your destination. When you take on that soldier’s mentality you become a very dangerous man indeed. Don’t let your mission be about if, make it about when.
Be at Point B already. Because the present moment is all that exists. Time is an illusion, you will never feel time passing, because you’re always in the present moment. So if you want to get to Point B, start BEING at Point B.
Start at Point B and work backwards from there, taking all the obstacles out of your way. Be at the business you want, in the office you want, in the condo you want, with the physique you want and have those pictures be front and center in your reality.
Right now you’re in current time as you read this article, but right now is also Point B, because you will always be in current time, so if you’re truly committed to getting to your destination, stay in certainty and BE at Point B.
That is until she dumps you for making her your #1 priority and leaning on her for all your happiness.
Many men find themselves depressed after a break up and this is why.
It’s not because she dumped you, although that hurts…
It’s because she dumped and you had nothing else going on.
Breakups hurt but a breakup won’t put you into depression by itself.
A breakup only puts you into depression when you feel like you have nothing else to live for.
Total depression = bored of everything = nothing matters = total distress.
You can’t be depressed when you have a purpose and a mission.
Having a mission is what gives soldiers the strength to stay strong while living through a horror movie.
It’s only after they get home that they sink into depression because they’ve now lost their purpose.
That’s why you always have to have a purpose and make it a priority.
As opposed to a girlfriend, who will punish you for putting her on a pedestal…
Your purpose never punishes you for making it your primary priority.
Instead your purpose rewards you.
My mission wakes me up to passive income and positive comments from readers.
My mission rewards me every day with something to do and new challenges to accomplish.
With no purpose, or if your purpose is well below your potential, like working unfulfilling job…
Boredom and eventually depression are the end result, this is distress.
Just like if you’re player 1 and you have no video game to play, or the game you have now is too easy.
But on the other end, if you have purpose and that purpose demands more than your potential…
The end result is fear, irritability, breakdowns, and depression – also distress.
This is a common condition for a lot of corporate killers living in high stress environments.
You’re distressed when you’re below your potential and distressed when you’re pushed too far above what you’re capable of.
You need a mission and a purpose that challenges your potential and that stretches you, but not beyond your potential.
When you have the right mission, you have eustress, or positive stress that makes you stronger, more capable and most importantly, happier.
Eustress is what the great philosophers mean when they talk about adversity strengthening you.
But not all adversity is created equal, you do not need or want distress in your life.
Distress makes you weaker.
Distress like getting a disease or a divorce are not good examples of the kind of challenges you want to have in your life.
Eustress is making gains in the gym, where you’re causing microtears in the muscle, but with rest those tears heal and you become stronger.
Eustress is completing challenging projects in your business and getting those financial wins under your belt.
Your ideal mission is a game with the skill setting at the apex of your potential but not above it.
And that game is one that’s big enough to play for life.
I can play RLD create strategies and develop insights for living until the day I die.
I can do this because it’s my purpose, because I’m fascinated by life, because I have an infinite amount of topics to cover, and because there are no limits to the scalablity of my business.
I have a mission to hit by 40 within my metagame, and when I hit it, I’ll just create another mission for 50…
Thats the key – always having and creating new levels and missions within your metagame game.
When you have all that you get eustress.
You get high on pushing to your potential and making continual progress.
You get high on achieving and happy on growing.
And the more you achieve, the stronger and more confident you get.
You might not love selling real estate, but you can learn to get high on taking action, closing deals, building your empire and dominating your space.
And then ironically, leisure time and hobbies become more valuable, because they are a break in comparison to work.
Ironically, you can start to enjoy your leisure time and look forward to it, because you know you’ve earned it after a hard day’s work.
I love to read and expand my understanding of life after a hard days work, but I’d want to hang myself if all I did was lay in bed and read.
I like to have a few drinks with my friends at night, but I would lose my mind if all I did was drink margaritas on the beach all day.
I love to spend time with girls I like after work, but I know with certainty that spending every waking moment with that girl would destroy the relationship.
The key is having the right metagame, with the right mission that fulfills your passions, purpose and potential.
That metagame should fill the bulk of the day with eustress or productive stress.
Then after a hard day’s work, you get to play your other games, with the proper limiting barriers of time and energy so you don’t get bored of those games.
And the goal is to create a life around doing that every day…
Living somewhere sunny while on a mission you love that strengthens and fulfills you. And then after a hard days work, you get to enjoy going out with the boys, having girls over, eating good food, going to the movies, playing guitar or whatever games you like to play.
When you have the right games, and you stay winning and stay achieving, depression is a thing of the past.
Why You NEED To Stop Buying Other Peoples Dreams And Start Building Yours - YouTube
Why You NEED To Stop Buying Other Peoples Dreams And Start Building Yours - SoundCloud (1789 secs long, 89 plays)Play in SoundCloud
Unless you have ownership it’s not your dream – full stop, end of discussion.
That company, that political movement, that sports team – none of those are yours.
For it to be your dream, you have to have equity.
When you have equity, your effort to fulfill that dream is worth it.
When you have equity you get paid on things you did a decade ago.
When you have equity you get a shot at total financial freedom.
When you have equity you get passive income.
When you have equity you get to reinvest the profits and benefit from compound interest.
When you have equity it’s yours dream.
When you work for someone else, it’s their dream.
Your company can have their best quarter in history but you’re not getting that a piece of that revenue You’re not going to get passive income from that company. You’re not going to get money from clients you brought on after you quit or get fired. And you’re not going to get rich because employees don’t get rich, owners get rich.
The owner, the C suite and the activist investors get rich, not you. That mission statement on the wall is not your mission – you are disposable to that company. You do not owe that company an ownership mentality. And that company is most definitely not a family, families don’t fire their brothers and sons.
That political movement isn’t your mission either. Your vote and your activism on social media gets you nothing. Politicians get money, power, respect and mindshare. Political influencers get adulation, donations and people buying their products. You get nothing…
Nothing on the upside at least. But you can definitely get something on the downside, especially if you’re promoting an unpopular movement. You can get publicly shamed, fired, de-platformed, de-monetized or even attacked in the streets.
Are you anti-fragile enough to risk a life’s worth of revenue over your tweets and blog posts? The leader of your movement doesn’t even know your name. Your fellow activists won’t help you pay your rent. Are you that good financially, emotionally and physically that you can afford to be giving all your mindshare to a movement?
Your sports team is no better. It’s a corporation whose representatives are 20 year olds, most of whom don’t even come from your city. You have one life, you can’t afford to spend it watching overpaid 20 year olds exercise. Who gives a f$#@ if they make it to the playoffs when you’re living paycheck to paycheck. What does “your team” winning the championship do for your mission in life?
Here is the reality, you can’t afford not to build your dreams.
You need to have a mission because you need to be able to survive and thrive and today’s world is not your grandfather’s world.
Retirement costs a mil in today’s dollars let alone what it will be by the time you get to your 70’s. And those social programs won’t be waiting for when you get there. And to get there means you have to hustle, because that corporate job isn’t secure – the days of 30 years and a gold watch are gone. Your company will outsource your job to a robot or a person in the Philippines the second they can.
And it’s not just about that corporate job, it’s about your job in general. I’d bet automation will replace 30% of all jobs today within 30 years, if not sooner. There is a good chance a computer will be doing what you spent all that time in school specializing in.
The truth is, we also have major structural problems in our economy. Personal debt is at all time highs, and savings are at all time lows, most people you know are living paycheck to paycheck. The middle class is dying and those jobs are moving to Asia. This is the reality in the west…
You don’t have the luxury of buying into other people’s dreams. That 50k job, or that movement, or that sports team is not going to get you where you need to go. You need to look out for #1 and focus on fulfilling your dreams.
You need to solve taxes by either moving or getting your income above 100k and taking advantage of writeoffs and loopholes. Rich people don’t pay taxes like the poor, because you can’t stay rich paying 40% a year.
You need to solve debt by getting rid of it and getting your income up.
You need to get a business going so you can get paid and not be bound to any skillset. An entrepreneur will never be replaced by a robot.
You need to get control over inflation by reinvesting into your business and compounding that interest.
I’m talking about surviving and thriving in this brave new world.
I’m talking about creating and acheiving your mission on this planet.
I’m talking about getting control of your revenue where you can’t be fired.
I’m talking about becoming an entrepreneur who can pivot in and out of trends.
I’m talking about building a big safety net and getting rich and comfortable.
I’m talking about getting the women you want in your life.
I’m talking about getting healthy food in you and getting the physique you want.
I’m talking about building up your network of people who actually care about you.
All that stuff is a full time job, you don’t have time to be LARPing around as a twitter “activist”, or playing fantasy football, or giving the best years of your life to make your boss richer.
The only game you play is your game with your mission where you make the rules. Otherwise you’re getting played. And playing at the highest levels takes total dedication. People that care about you will help you and support you taking care of your wealth, health, relationships and lifestyle, people that won’t are getting in your way.
The good news is, despite all the bad news, today is the best time to be alive. For the last 10,000 years, the vast majority of our ancestors we’re feudal-level-serf-farmers. Today you can work from anywhere, build anything and have unlimited mobility.
You have access to technology and healthcare our ancestors only dreamed about. You have the internet, the greatest equalizer known to man. Everything you need to win is only a few keystrokes away online.
F$#@ everyone else’s mission, focus on yours and make your dreams a reality.