Updated July 27, 2024. Can you imagine life if you had a huge amount of money sitting in your bank account? $1 million dollars. $5 million dollars. $10 million dollars. $50 million dollars. $100 million dollars. Can you imagine if you were a billionaire? Names like Jeff Bezos, Elon Musk, Bill Gates, Mark Zuckerberg, Warren Buffett, Oprah Winfrey, and Sara Blakely come to mind. These names have achieved what many people would like to accomplish. The goal these people have achieved is to build unlimited wealth with money’s untold truth.
Then there is you. Perhaps you are working a job with the degree you have. There is a big possibility that you don’t have a lot of savings and that the world feels like it is ready to crumble from the high cost of living expenses you deal with every day because you feel you are not paid enough. Or maybe you are a student working hard to get a degree and you see already this scenario right in front of you when you look ahead. How is it that people build unlimited wealth with money’s untold truth?
Getting wealthy and rich seems like a far off dream. You ask yourself, how did it get this way? How did they do it? Am I really that unlucky? Is this really a rigged game I am playing?
Financial Literacy In School
The goal is to build unlimited wealth with money’s untold truth. But first we need to understand how many people have arrived at this mindset in the first place. For a moment, let’s look at the past. Let me ask you a question. Does anyone remember a class called Personal Finance 101? I sure don’t. It didn’t exist. What is more amazing is that it still does not exist today.
Why Isn’t Money And Finance Taught In School?
Financial journalist Dan Kadlec points out several reasons why finance is not taught in schools:
- Only one in five teachers feel qualified to lead a personal finance class.
- There isn’t a strong agreement as to which finance concepts would be taught.
- Personal finance is not part of the ACT or SAT exams.
Education advocate Geoffrey Canada wants to help a greater number of kids to excel. He dares the education system to look at the data of our schools that have failed in teaching personal finance and asks why it looks very similar to the way it was 50 years ago.
It is hard to pinpoint the real reason that personal finance is not taught in schools. However, this is a topic for another blog. But suffice it to say that many people believe that financial education is the responsibility of the parents. Nevertheless, in a 2012 study, 80% of U.S. adults said that they could use help with financial questions.
The U.S. Average Bank Account Balance
The untold truth about money is for generations schools have denied the responsibility to teach personal finance to their students. The average bank account balance in 2019 was only $41,700 in a survey by the U.S. Federal Reserve.
It seems that the adults are not that savvy either with their personal finances. So why would we expect the younger generation to have more knowledge than their parents? Obviously, we shouldn’t. Instead, we should be asking the question of how to build unlimited wealth with money’s untold truth.
The Taboo Topic of Money’s Untold Truth
As children, we’re taught to never discuss our personal finances. Money is a private issue – a taboo topic. You don’t discuss your income, your investments, or your savings. Never talk about money. Sadly, this is a common view.
This is why kids know absolutely nothing about their parents’ financial situation. As a result, this leads to adults who know nothing about finances in general and that’s where most people stop.
Honestly, that’s where most people are right now. They’re struggling to make it, afraid to ask for help. When instead, the right solution is to build unlimited wealth with money’s untold truth.
Personal Finance Skills Are Essential
Finances are understandably one of the major causes of stress for adults. Everyone can relate to this stress; even the wealthiest people have felt financial pains at one time or another. Debt and/or a lack of savings can cause considerable hardship on a person’s life. And it doesn’t just cause daily stress. Financial problems can lead to divorce, poor health, depression, and bankruptcy.
Having personal financial skills is one of the most important things you can do to live a happy, healthy, and secure future. Your level of understanding around the fundamentals of budgeting, saving, debt, and investing will impact every part of your life and can mean the difference between poverty and prosperity. This sounds drastic, but without understanding money’s untold truth, this could be reality.
An Equation for Unlimited Wealth
However, what if I told you that you were wrong. What if there is a way to do it. What if I told you that there is actually an equation for wealth. How would you feel then?
What if I told you that you could hold onto your dreams of obtaining wealth and living the lifestyle you have always imagined where all the world is yours for the taking. Then using this equation you could make them into reality and build unlimited wealth with money’s untold truth.
Be Rid Of False Beliefs
However, there is a flip side to the coin that you have never looked at. Know that the equation for wealth is real. We are about to be entrepreneurs. Be prepared to change the way that you see money in your life.
Yet be warned, the struggles you will have to overcome are also real. Unfortunately, the truth is that many people will not make it to the other side and the unlimited wealth that awaits them.
The media and Hollywood have always depicted the wealthy as evil and corrupt. Undoubtedly they say that the more evil and corrupt a person is, the more money you make. The question is: is this the stereotype that you believe in? If we want to start building wealth we have to have the millionaire mindset and get mentally set to build unlimited wealth with money’s untold truth.
The First Challenge: Millionaire Mindset
The biggest problem that most of us face is not the lack of ideas or the knowledge. It is the lack of the will to follow through and the heart to never quit no matter how hard it gets. I am talking about how to build unlimited wealth with money’s untold truth. So, I call this the millionaire mindset – the absolute ability to do whatever it takes till you reach your goal.
99% Fail Rate
The fact of the matter is, everyone wants to make millions but 99% stop even before starting once they realize the amount of hard work, dedication, focus, and persistence that is needed to become the person you want to become. If you are one of the very few who always asks, “how do I become a millionaire?” and if you are ready to overcome whatever obstacles get in your way, 50% of the challenge has already been overcome.
Yes, I get it. You want to be a millionaire. Everyone does. But have you thought why 99% of people fail in doing whatever it takes to become one? Why is it that only some people have the ability to take massive action, put in the sleepless nights and never give up? What is the difference? It is not that they have special abilities or were gifted. So what is their secret?
Most Self-Made Millionaires know the answer to the holy grail – “The Why.” They are ready to build unlimited wealth with money’s untold truth no matter what. To achieve greatness, The Why has two key factors that you need to have in your mindset:
- The ability to look at failure as a result and not as the end
- How to overcome excuses
Make the Promise to Never Quit
If you will never quit, you will never fail. Think about it. No matter what the end result is, look at it and access your situation. Then overcome any obstacles in your way to achieving your goals to being a self-made millionaire. Do this and you will increase your odds of achieving to at least 80% or 90% of doing what is needed to build unlimited wealth with money’s untold truth. Wealth-X World Ultra Report
The world’s ultra wealthy population have a net worth of $30 million or more. If we look at the 8th edition of the Wealth-X World Ultra Wealth Report the ultra wealthy grew by 9.5% in 2019 to 290,720 individuals worldwide. What is even more significant is that more than half of the world’s richest people are self-made and the other studies back up this conclusion of being self-made. The big ones: Jeff Bezos, Elon Musk, Bill Gates, Mark Zuckerberg, Warren Buffett, Oprah Winfrey, and Sara Blakely are all self-made billionaires.
Your Wealth Equation Is All Wrong
What is it that these people know? The secret is: unfortunately your wealth equation is all wrong. The truth is that most people believe that money equals the salary from a job. Consequently, the sole purpose for an education is to get a job. You might ask, is there a problem with this equation?
If you are reading this blog, I assume that your goal is to make as much money as possible in as short a time as possible. Is this your goal?
Money = Salary from a job
Is this your goal? If so, this mentality is WRONG. Why? Unfortunately, this is not how money works and you will never build unlimited wealth with money’s untold truth by using this mindset.
One Precious Resource: Time
Similarly, we have one precious resource and as the minutes, hours, days go by, there is no way to get them back. That precious resource that I am talking about is time.
In a regular job, the amount of money you earn is dependent on the amount of time you put in. Let’s calculate how long it would take you to earn $1 million dollars. If you make $25 days an hour and work 40 hours a week, it would take you more than 19 years to have $1 million dollars.
However, we just calculated your $1 million without subtracting taxes, sick days, or vacations. The reality is that you would have to live your whole life before you would ever see $1 million dollars. On top of that, the realization that you would have to live extremely frugally and most of that precious resource called time would be gone forever.
Again, you ask yourself the question, how is it that there are self-made millionaires and billionaires that are still young and didn’t have to wait?
The Truth About Money and Wealth
Here is the answer that we have been searching for: stop chasing money. For this reason, stop chasing money and realize that we are all paid in proportion to our perceived value. In essence, our perceived value is a direct correlation of how to build unlimited wealth with money’s untold truth.
The perceived value is the market and consumers of the economy. Who is the market? The market is you, your family, your friends, your neighbors, and your country.
Think about a market that many people love. Take professional sports for instance. In the U.S. the big three sports are baseball, football, and basketball. If you look at the top professional players in the U.S. they are paid millions of dollars to perform a sport that they love anyway.
Why are they paid that much money? The answer is the market. The market determines it will pay them millions of dollars because people love to watch the best people in the world play and then they want to spend money on going to games and buying merchandise. The result is that the market has a high demand for professional sports.
Work Ethics And Hard Work For Wealth?
Understand it is NOT about work ethics and how hard a person works. For instance, take this example. Who works harder? A construction worker or your tax accountant? Most people would probably say the construction worker works harder.
However, your tax accountant is paid more because that person has the knowledge to help you save money on taxes. Overall, the market has a higher demand for your tax accountant. Like it or not, the construction worker is perceived by the market as someone who can be easily replaced. Again, to summarize, it is not about work ethics, it is all about the perceived value and nothing more.
Getting a great job is not the right equation to quickly make millions or billions of dollars. But, it is possible to build unlimited wealth with money’s untold truth. Ask yourself the question, what is it about self-made ultra wealthy people that the market sees as having a high perceived value?
How To Build Unlimited Wealth …
If you want money, then solve problems. Think about this principle of money and solving problems. If you ponder this thought even further, you will realize that this is the holy grail for making money. If someone thinks of an idea to solve a problem it will create money. In short, the bigger the problem, the larger the payout.
This is the equation for wealth. Solve problems and you will build unlimited wealth with money’s untold truth. You will achieve your dreams of wealth and living a lifestyle of luxury. This secret is the untold truth about money. The answer is really that simple: solve problems and build unlimited wealth with money’s untold truth.
Look at the self-made billionaires. All of these people have solved enormous problems. If the problem is a million dollar problem, then the solution will make you millions. If it is a billion dollar problem, then the solution to that problem will make you billions of dollars.
Analysis of Unlimited Wealth: Jeff Bezos
The richest man in the world (at the moment) is Jeff Bezos, founder of Amazon. Overall, Bezos is excellent at finding the biggest problem imaginable and solving that problem. For Bezos the problem was getting his products into the hands of customers. As a result of this Amazon was born.
Amazon’s prices are cheaper, the delivery cost lower, etc. Jeff Bezos found a billion dollar problem and he solved that problem. As we know, he makes billions and billions of dollars from solving an immense problem of selling his products. Jeff Bezos is enormously rich because he found a way to build unlimited wealth with money’s untold truth.
Stop Chasing Money and Look for Problems
The paradox is to stop chasing money. Money is not what you should be looking for. Instead you should be looking for problems and even more importantly solutions to those problems. Continue asking yourself about big unsolvable problems that you can actually solve and then build unlimited wealth with money’s untold truth. Once you have identified a problem and you have a good solution to that problem, then start a business.
Open your senses. What are people saying they do not like? Listen to the market, it is filled with problems. But most importantly, find a problem that is worth solving and then pursue it vigorously.
Scalable Solutions
Investors will tell you that they love to put money into startups that are scalable, and ready to scale. But what does that really mean? In general, and simply stated, it means that your business has the potential to multiply revenue with minimal incremental cost. Ready to scale is when you have a proven product and a proven business model, about to expand to new geographies and markets. Your solution to your problem needs to affect a magnitude of people.
Most consulting services, like marketing, are not scalable, since they must be delivered by experts. However, a software product is a classic example of a scalable solution, since it costs real money to build the first copy, but unlimited additional copies can be quickly cloned for almost no incremental cost.
Infinite Scalability
That goal is to build unlimited wealth with money’s untold truth. A system that scales well will be able to maintain or even increase its level of performance or efficiency even as it is tested by larger and larger operational demands. Linear scalability is when the cost of the next user is the same as the cost of the previous user. This means your system doesn’t have bottlenecks.
This is what people usually mean when they say “infinite scalability”. When people talk about scalability, or a system being able to scale, they’re usually referring to a graph that looks something like this:
To demonstrate, the red graph indicates a system that does not scale well, the green graph indicates one that does. For example, the Y axis is Cost, Expense, or Money. The X axis is usually the number of users (for instance, internet-type companies). Ultimately, scalability is a cost-function that will tell us how much it will cost to have the system support a certain number of users.
Millionaire Money Behaviors
Finally, I would like to share with you the millionaire behaviors that are directly from The Millionaire Fastlane by MJ DeMarco. The behaviors below are the thoughts and behaviors that you need to have to achieve the millionaire mindset.
I recommend that you say out loud and repeat these time, education, money, and life perceptions daily until they become your reality. If you find that these behaviors are not yours currently, that will change. Add this strategy to your daily routine to build unlimited wealth with money’s untold truth.
Time, Education, Money, And Life Perceptions
- Time Perception: Time is the most important asset I have, far exceeding money.
- Money Perception: Money is everywhere, and it’s extremely abundant. It is a reflection of how many lives I have touched and reflects the value I have created.
- Primary Income Source: I earn money via my business systems and investments.
- Primary Wealth Accelerator: I make something from nothing. I give birth to assets and make them valuable to the marketplace. On other occasions, I take existing assets and add value to them.
- Wealth Perception: Build business systems for cash flow and asset valuation.
- Strategy: The more I help, the richer I become in time, money, and personal fulfillment.
- Responsibility and disciple: Life is what I make of it. My financial plan is entirely my responsibility and I choose how I react to my circumstances.
- Life Perception: My dreams are worth pursuing no matter how crazy they are, and I understand that it will take money to make some of these dreams into reality.
The Reward Of Unlimited Wealth
Now you have your profitable business running successfully. You see and feel the profit that your business generates. However, now you face a choice. You can sell the business and make a beautiful profit. Alternatively, you can continue running the business and build unlimited wealth with money’s untold truth.
Perhaps you think that you could add even more value to your solution and then sell for a greater price. Maybe this business runs passively and you don’t have to do much to keep it running. It’s also possible that you love running your business and you see yourself going on to achieve even more things in the future.
Live Your Wealthy Dream Of Freedom
Money is just paper with a number on it that people equate to value. This was never about the money. Let’s face it, it is all about the freedom that you were looking for. Now you have the ability to do whatever you want, whenever you want.
This is the dream of freedom that you were seeking all along. I challenge you to do it and have the courage, the belief, and the strength to make this your reality! When you do this, you will have completely conquered how to build unlimited wealth with money’s untold truth because now you know the secret to having a lifestyle of richness.
2 Chronicles 31:21
And every work that he undertook in the service of the house of God and in accordance with the law and the commandments, seeking his God, he did with all his heart, and prospered.
Acklowledgements
This blog was heavily inspired by the incredible writings of MJ DeMarco and the superb YouTube video The Untold About Money: How to Build Wealth From Nothing by James Jani. This blog is a condensed summary on how to build unlimited wealth. Please bookmark this blog: Build Unlimited Wealth With Money’s Untold Truth. It is very difficult to cover in detail all the topics that this blog includes. Nevertheless, I look forward to talking about the other closely related topics in future blogs.
Last Updated on July 27, 2024 by Financial Goodness
Financial Goodness
George Alexander Roy III and our team are experts in helping you to seek wealth through investing and tips on how to succeed. Join us at FinancialGoodness.com to increase your knowledge through education in the areas of personal finance, real estate, and investments. George has been an owner of a real estate investment business that focuses on wholesaling, fix & flip, and long-term buy-and-hold property strategies with a consistent increase of annual revenues. Consequently, as an entrepreneur, researcher, writer, and speaker he has sought the truth in everything he does, no matter how difficult. Hopefully this value and service will help each person achieve their financial freedom sooner.