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“Motivation doesn’t work, irritation is more effective. Motivation is worthless but irritation moves us forward. Nothing ever happened until someone got irritated or pissed off enough.”
~Doug Nelson

 

Problem:
Being broke (financial pain)

 

Dear Past (Pain-Full) Self,

Being broke is a pain felt in every other area of life.

Being being broke is so painful. Being hungry, sleeping in my cramped car, and having to deal with uncertainty to such a degree is unbearably painful sometimes.

At the time of this event I was in one of…

The brokest times of my life. But even though I was sleeping in my car with barely enough to survive I knew that going to events like this are the keys to bringing me out of my low circumstances. Why? Because of what I learn and who I meet. It turned out to be extremely valuable.

Below are the notes I took from the…

Millionaire Mind Intensive (T. Harv Eker Event) with Doug Nelson by Success Resources in Orlando, Florida. I hope you get some value out of this so you can move one step closer to having a pain free wallet.

Day 1

  • He was in an explosion after lighting a cigarette that ignited in his basement
  • He was severely burned head to toe
  • In a coma for 6 months
  • Lungs were incinerated
  • Questions hook the mind and make us more interesting.
  • When saying a sentence and not finishing it, we will complete the sentence in order to know.
  • The way to make a lot of money is to be in business for yourself.
  • Be a student of your results.
  • Always see your results to see what is going on.
  • Any day you’re learning and growing is a good day, and every day we are learning from something even failure.
  • Life with no ups and downs is a dead life.
  • Don’t take anything or anyone for granted.
  • ”If you work harder on yourself than you do on your work then you will make a fortune.” ~Jim Rohn
  • It is very possible to go from broke to no joke many times around.
  • Our financial thermostat must be set for millions or billions and not for just enough.
  • Success is a team game.
  • Business is a team effort.
  • We show up places for a reason. So, make the most out of it.
  • Come looking for one thing but then get another.
  • Conscious mind has 1 million receptors, our subconscious mind has 6 billion receptors.
  • Our mind is designed to help us survive. It is our job to make ourselves happy.
  • Our mind is designed to keep us comfortable.
  • The easiest way for our minds to keep us safe is to keep us the same we already are.
  • Everything in our life is in our comfort zone, including our clothes, money, job, relationships, etc.
  • What’s the solution to getting out our comfort zone? We won’t get out our comfort zone, so the key is to stretch our comfort zone and make it bigger.
  • Our mind likes to take us out of the game, by making our bodies hurt, distracting us, etc.
  • Tell our minds when it tries to distract us, “thank you for sharing the feedback” and then double down on your focus.
  • If our mind says, “I know that”, tell it thanks for sharing the feedback”, then double down on your focus.
  • The money game is basics and fundamentals, which will help you win the game.
  • Don’t shoot the messenger by being over skeptical.
  • Play at 100% at everything you do in life.
  • Let go of things that happened by learning to let go…just like you learned how to do other things.
  • Just getting by “freakin’ sucks”.
  • The odds of having this life is being one and a billion, so don’t take it for granted!
  • If I’m not getting rich it’s my freakin fault.
  • Motivation doesn’t work, irritation is more effective.
  • Nothing ever happened until someone got irritated or pissed off enough (pain).
  • Motivation is worthless but irritation moves us forward.
  • Play full out.
  • More importantly than learning, this weekend is about unlearning.
  • Millenials have the highest suicide rates, Doug believes it comes from social isolation.
  • Clarity = Power
  • What does clarity mean for you?
  • Most people fail at getting what they want because they don’t know what they want.
  • Spending money you saved without replenishing it equals unhappiness in the end.
  • Saving at the end is the end.
  • Saving in the beginning (when we are young) is the key.
  • The essence of the money game is choice.
  • Financial freedom should be priority #1 because it’s the only thing that really matters.
  • As a human being we are not truly free until we are financially free.
  • Financial freedom = choice
  • Imagine life if you could wake up and do whatever you WANT to do, instead things you HAVE to do.
  • Imagine a life where you could do whatever you want whenever you want however you want.
  • Financial freedom is the ability to have our desired lifestyle without having to work or depend/rely on anyone else for resources/money.
  • Passive income is a lot of work in the beginning with little money but later on its little work for a lot of money.
  • Rich people think it terms of creating something that will take care of them later.
  • Financial freedom:
    • When passive income exceeds expenses then we will have true freedom.
  • It’s abnormal to be the best and above average.
  • It’s abnormal to exceed expectations.
  • The goal should be not to fit in and to be abnormal.
  • What is it going to cost to have that ideal lifestyle, annually?
    • 240,000/year
      • Add on 50% for taxes and inflation
        • $360,000/year
  • How can we get there without working (passive income)?
    • Passive investment income
      • Investments that generate income passively
        • Examples include stocks, bonds, mutual funds, annuities, etc.
          • Mutual funds are a waste of time because they generate such low returns with such high fees (you’re better off burying your money in your backyard than using mutual funds).
    • Passive business income
      • A business that generates income for you without you working it
        • Examples include
          • Positive cashflow real estate
          • Memberships
          • Intellectual properties (licensing agreements when people use your brand or properties)
          • Book royalties
          • Movies, artwork, apps, patents, etc
          • Franchises
  • 10% ROI is SHIT
  • Investment strategy of the poor is to not invest.
  • Investment strategy of the middle class is to give your money to someone else to invest.
  • Investment strategy of the rich is to learn and invest ourselves and expect way higher than 10% return.
  • At a 10% return I would need $3,600,000/year to become financially free.
  • The internet is an entrepreneur’s dream
    • It allows you to be open for business 24/7, 365 days a year.
  • Any business can become passive.
  • When you get into business it’s very important to know your exit strategy.
    • Never be stuck or trapped
  • It’s crazy to only have one income source especially when it’s active (J.O.B).
  • Have businesses that are really good when the economy is up AND down.
  • To be rich AND free we must have passive investment income AND passive business income streams.
  • People get free through business then get rich.
  • To be rich in the information age we must make businesses in the informational world.
  • Read the millionaire next door by Carl Stanley, it boils down to one sentence.
    • Rich ppl are great at managing their money
  • Money management tip
    • We are already managing it, it just depends on how or not we are doing it.
    • It will allow us to spend money guilt free.
    • It doesn’t restrict freedom it promotes it.
  • Never put all your players on one base only.
  • Make sure to use a strategy you can keep long term.
    • Don’t worry about paying off the high interest rate debt sooner.
    • Debt comes from a habit of spending money you don’t have.
    • When you create a habit it’ll be there for the rest of your life.
    • Triggers will still be there, so change the behavior.
    • Don’t spend money you don’t actually have.
  • Betting against the masses will help you win.
  • You can use credit card points to pay for flights, trips, etc.
  • Do the opposite that everyone does, don’t use cards to buy things you can’t afford, use them to buy things you can to earn points (free stuff).
  • World’s easiest and most effective management system:
    • Separate your money into different accounts
      • 10% FFA:
        • Financial Freedom Account (always pay yourself first)
          • Use that money to invest.
          • Never ever ever spend the FFA (invest doesn’t mean spend).
      • 10% LTSS:
        • Long Term Savings for Spending (use it buy buy the big things you want like house, vacation, car, boat, etc)
      • 10% EDUC:
        • Invest in yourself and your own education
        • Ignorance is expensive
          • Go to seminars and networking events, buy books, hire coaches and mentors, etc.
      • 55% NEC:
        • Necessities (like bills, groceries, electricity etc.)
      • 10% PLAY:
        • Having a good time with 10% of your money
        • You must blow this money every single month
        • You have to let the inner little play
        • If you don’t it will haunt us and get its revenge
        • We NEED to enjoy our money or we won’t have more because subconsciously we won’t want more of something that doesn’t give us any pleasure.
      • 5% GIVE:
        • Give to others like organizations, charities, causes, people, etc.
        • Don’t give just to get guilt relief. Find out where it’s going so it gives you a better feeling.
    • Ask yourself:
      • What is more important, what I’m about to buy or my financial freedom?
  • ALWAYS know where your money is going.
  • If you have a significant other:
    • 50% of divorces are over the subject of money.
    • Take the total money of the household and take out $500 each month (or any equal amount)
      • Only rule is that you cannot ask the other person what they did with that set amount each month.
    • Put the rest in the money management system
    • This will eliminate the problems within the household
  • Business owners:
    • What works is you have the business pay you a check and then put it into the money management accounts
    • Must master the system at home before you do it in your business.
    • You must get a paycheck from your business or you don’t have a business you have a slave driver.
  • If you have kids at home then put labels on the ugliest jars you can find
    • Use them as a teaching opportunity
    • Only give an allowance to kids if they bring value into the home (like chores), but not to just exist.
    • They need money to manage.
  • It’s not when you have money that you’ll manage it, it’s when you’ll manage it that you’ll have money
  • Doug had moments where he couldn’t put gas in his car and have lunch.
  • If you only have a few dollars next month then you run it thru the system NO MATTER what. Make it a habit!
  • Principles are far more important than the amounts.
  • If you can’t handle managing a little money you’ll never manage a lot.
  • Sharing with others releases the energy attached to those things.
  • Everything in nature is designed to be holistic.
    • We aren’t the exception
    • It is completely possible and likely to be rich AND spiritual
  • The love of money (greed) is the root of all evil, not money itself.
  • Beliefs are thoughts we hold to be true.
    • These are the filters through which we see life.
    • They become self fulfilling prophecies
      • Because we will always prove ourselves right.
    • A conditioned mind has to be right
  • Awareness and understanding helps us to change.
    • Then we can recondition these beliefs
  • Most of our beliefs come from childhood
  • Who were the primary sources of our programming?
    • Parents
    • Teachers
    • TV, media, etc
  • Money actually does grow on trees (LOL)
  • Money does make us happy-er
    • Money can buy a jet-ski, and most can’t be unhappy on a jet-ski
  • It takes creativity to make money, not more money
  • More money solves more problems.
  • With more money we have more choices and higher quality of problems.
  • Doing what you don’t love does not bring success or riches.
  • Being at the top of their game involves loving what you do.
  • Nothing has meaning except the meaning we give it.
  • Don’t believe a word you say. It’s probably a belief that came from someone else.
  • Don’t believe a thought you have because it’s probably four generations or more old.
    • Question every single thought
  • Our hearts have no doubts or questions it just has answers, our minds have only doubts and questions no answers.
  • Never take rejection personally.
    • Don’t hate on promotions, sales, marketing
      • If you’re a hater on it- get over it
  • Sharing what you love and created with others is a gift and a must.
  • Most people’s problems is that they don’t take action.
  • Extreme wealth comes from investing.
  • Energy travels in frequencies and vibrations, it goes up, and down just like the market.
  • Feel good when you spend what you have, but never spend what you don’t have.
  • Buying high and selling low is a guaranteed strategy to losing money
  • When ppl are greedy (in euphoria) we should selling, when ppl are panicking (in fear) we should be buying.
  • When looking at real estate look at the avg home price and the avg income bracket- at some point they have to level out.
  • Knowing what season it’s in will give you the best outcomes- when you decide to invest- is it high season or low season?
  • Savvy investors ride the waves of what’s growing/moving up.
  • Learn how to make money from little investments, then move to higher investments.
  • Broke people have the most fear when it comes to investing.
  • Broke is a situation, poor is a mentality.
  • Learn some things then implement them, learn then implement.
  • 90% of investing is common sense.
  • When everyone is selling that’s when you should be buying, when everyone is buying you should be selling.

Solution:
Manage your money (no matter how little you have), start a business, and invest!

Sincerely,
Your Future (Pain-Free) Self

CONQUER PAIN TO GAIN (PLEASURE IN LIFE & RELATIONSHIPS)!