if you get rich overnight what would you do?
but what if I tell you you're going to be in 1million debt all of a sudden
Oh My God 150k in debt
try to get rid of it
That's no possible
not possible?
I would be like don't know how to be good
and what you would exactly do?
go to sleep maybe wake up and find its a dream
what would you do if you found yourself in 150k debt
get up and go to work as usual
Ha Ha
still need to work
today we are also busy making a living some of them reach their goal of them
are still fighting some of them are still in debt Greg a $115,000 in debt to
a millionaire and now and investment instructor and prefer Oh manager what
course of action he makes to do to this chapter of his life
you
come on I'm fine going well first of all I think that when we're not dead we
really have the pirate type sedan what do I mean because there are some depth
and really haven't paid them up for example condense that with high interest
and some of the debts there with lower interest for example around 30% of debts
actually from the Friends of my mother so I really wasn't in such a rush to pay
the debts so I know it wasn't really good but at that time I really needed
the capital for me to get out the hole so if you are in a similar situation
first of all answer don't give up do you but the second thing you should do is to
prioritize which debts that you should pay up now and which I don't
so if you have been chamber of proof and I think just a little bit of painting up
the steps which that it would be really really good
you must go through this
what would you do to pay your debts?
i would be panic and not know what to do
I would get myself more jobs
be more hardworking
would you try to risk your money so that you might able to pay earlier
no, its still be better to be down to earth play safe the second point is tha
i will always think of any alternative make big money in a short time I suggest
that you should keep your job for example in 2006 and 2007 stock market
and housing market is booming everyone's just invest right people all went to
form same head I quit my job today and depressed fears and other of my friends
quit the job and just hold on trading ok but even if you can find an answer or
even a house that can make your asset and wealth triple or quadruple that's
nothing when you know what we and ok so keeping a job is really really important
so now in my company what we call I hire all them I really have a crack on track
or them behind me I in great debt today I think I believe Angola ha
I mean I'll and I saw more the third one that suggests to minimize your expense
this is what we always understand that it's always easier set done
so what I did for myself is that every single month I was living with my
parents I limited myself to spending four five hundred US dollars a mile and
so how could I do that first of all when a trans wanna go out in the drink tyent
views are no more hierarchy no more shopping no more than some stuff like
cell phone cars that it's really very tough so saying that is minimal but
doing that you will always get all kinds of excuses to do that for example I'm so
tired I mean we have a good massage or I really relax to do traveling or think
about that at the end of the day if you've earned $10,000 if you spend
$10,000 and your capital with my cereal if you earn 1 million but you spend one
minute the tab location also see them so it's a lifetime homework we should do
but I remember one time there was only around 1020 dollars in my bank account
so I was doing some tutoring how more money in Hong Kong so you know there are
certain things and condoms really yummy so I remember every single day I just
put another half so in order to me not prevail the food and I would be really
far away from the attraction to save up some money so my way is that if I spend
more than $500 I should white around a ten page report to myself everyone so
unluckily I could do that most of the time but
luckily I didn't do that twice number of tiles but not until today that I finally
understand this action or punishment is really weird but that's okay I achieved
my purpose I'm going to learn what they seem the horse suggestion that I should
make them is that we should understand our wealth separated in different parts
the first part is llama so you make some investment like housing and also stocks
in the assumption that we really have retained only chance and the timing of
in central Thailand second thing is about saving okay so every month we have
some money coming into a pocket other than not spending at all with women of
the money we should really have to invest wisely
okay so we always ask one question which currency should I buy now' or which
stock so that by now so that outhouse now is this all about timing
but without proper management all of your monthly or daily money your money
we've been appreciate before you make any investments so I suggest you can
invest in something like gold or currencies clumsy or indexes monthly so
one way that you can really protect yourself on enjoin the depreciation and
inflation and the second one you can save your money and cumulate world
wealth come on n to pretend that you spend all your money
so when shells come that day when chance comes and buy a house you will have the
money and so sometimes it's not that we don't have cash to buy a house sometimes
that's how we understand we don't have money
come on really really bad
khao chong be method suggestion that I make is finally the circumstances one
single biggest question that every people asking so not that intuitive
capital until you have the wealth protective capital to invest asking the
physical question is really dumb ok so now after doing that you can ask you
have a confession is what do you know that
I just wanted personal reference may not work with you but work for me but if
history repeats I just do that again I'm not sure I could do that again but I
just have one history I have one life that is what I did I separate my prefer
in two parts in one part and I make sure if you design of my wealth will be
invested in housing market not too much not too little to report and the second
part is sparse and comedies in endemic there are more short termism so in
housing market is kind of more long the term and it won't go to 0 and for stop
and commodities stocks can also go to 0 but even in the short term you may have
high return so that's why once you're good timing to investigate invest in a
piece before so that list me to the spec for my suggestion that I make is the
timing so we always think that all the stock markets and housing markets really
follow up news and really fluctuate in many things just change daily
how do ii see that there's actually one strength that he will repeat itself over
and over again just like Bible said so there's nothing new Under the Sun but
everything is repeating myself just one thing after repeating itself not one we
always ignore and declare the economic status and the gold or bear market the
economy expansion CNN accession how should you find it I've talked about
every sport but the coin is if you want to be the professional in one thing one
detail think in investment it'll make themselves a lot of role in analyzing so
today go work it for bear market that is the only timing that makes things really
minimal and the returns will be a lot better than the timing cost and spent
with a lot less hassle that is the timing when there's no bubble in the
bubble is not going first also you can invest in it
also for example housing market in Stockholm and in comparison to someone
who doesn't really care about this one I call because the cycle is repeating
myself in every 5 or 10 years right and he buys a house I saw at the peak so
that is a really different story the passage is the homework that you do four
minutes or even a day the fact that it saves you going into trouble in five to
ten years because I usually recycle and the next cycle is ten years so how many
ten years we have over in the life that's not so much if you want to be a
pro be a program this area - okay tie down in a marinara so the last one is
not as technical its mentality but it's really difficult think about it when
you're in debt or you caused a really far away
of course you really have to set your goal reasonably or set your goal that is
really far but it's not unreachable okay so when people is in this all kind of
dissed iteration they will think of risk-taking you go gamble they were
doing all kind of unreasonable businesses or short-term investment
speculations right so think about that how many people who actually went
bankrupt and died before one of two of them became successful and publish a
book so myself is different from other stories I don't believe in miracles if
there's even a miracle so about that definition of miracle everyone is
different for example do you think that a miracle is one in millions for example
you think that one is thousands is really a miracle right so if you are in
debt or your goals is really really far away
think about that if you do something that it's wanting a miracle to come to
you is one in every thousand okay so you just live your life once I tried again I
started investing in 1997 in the tech bubble and also the subprime mortgage
SARS and the 9/11 I experienced everything just tell yourself you can go
all in for them it's just that we really have to go
stable step by step baby step yes that's really little but you're really making
sure that you're looking forward always okay so one day you which you go so when
smart decision and timing you can reach your goal faster a miracle the Whizzer
is really high today I think that everything is an option is for option
for you to choose if you choose to be in it in miracle one in millions or if you
choose to do your homework and take baby steps that's your call
you
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