In this enlightening video, we dive deep into the concept of financial prosperity and how to truly define the amount of money you need to live the life you've always imagined. Based on timeless wisdom and practical advice, this video guides you through the process of setting specific financial goals, understanding the importance of life and disability insurance, and taking actionable steps towards securing your financial future. Whether you're just starting out or looking to redefine your financial strategy, this video offers valuable insights that could change your life. Discover how to break free from vague aspirations and start building a prosperous future today.
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00:00Most people think they want more money than they really do and they settle for a lot less than they could get. Earl Nightingale.
00:07To fully embrace the concept of prosperity, you need to be specific about your financial goals.
00:14How much money do you truly want? This isn't just a passing thought. It's a critical question.
00:20You see, your subconscious mind doesn't think in words. It thinks in images.
00:25So when you say, I want lots of money, that statement is too vague.
00:30Even your subconscious mind, which shapes so much of your reality, doesn't understand how much lots really is.
00:37I want you to take this idea seriously because it has the potential to change your life.
00:43But remember, just thinking about your financial goals isn't enough. You must take action.
00:49The first and most crucial step is deciding how much money you want.
00:54To make this decision, it helps to think about what you want the money for.
00:58Simply saying, I need money to live on, is too general and uninspired.
01:04Our society is set up so that even if you didn't work, you could still receive the basics needed to survive.
01:11The government provides a basic living wage that allows you to get by, even if it's just barely.
01:17But if you're watching this, I'm willing to bet that you want more than just the basics. You want a life
01:23that's rich, full, and meaningful.
01:26So, how much more do you want? This is where you need to get specific. This exercise requires careful planning.
01:33I want you to grab a sheet of paper and start listing all the things or activities you plan to spend money on over the next year.
01:42Think about every aspect of your life that requires financial input. To get you started, here are some categories to consider.
01:50Food, rent or mortgage,
01:53clothing,
01:54automobile and transportation,
01:56utilities,
01:57education,
01:58vacations,
02:00recreation and entertainment,
02:02insurance, savings, and investments.
02:05These are just a few examples. Keep working on your list until it feels complete.
02:10But here's the important part. Don't just list what you're spending now.
02:15Instead, I want you to visualize the life you want to live.
02:19Picture it clearly in your mind. How often do you want to dine out?
02:23What kind of car do you want to drive? How frequently do you want to travel or take vacations?
02:29Then, calculate how much that lifestyle will cost. This is your life, and you deserve to enjoy it to the fullest.
02:36You should have the money you need to live the life you choose.
02:39And the only way to ensure you get there is by knowing exactly how much money that will take.
02:46Now, let's address something important. It's normal for doubts to creep in during this process.
02:51You might be thinking, this is crazy. I'll never have the money to live like this.
02:56But let me remind you of something.
02:59There are many people who are living exactly as I'm describing right now,
03:03and they didn't start out with a silver spoon in their mouths.
03:06They weren't born into wealth, and they didn't have it handed to them.
03:10They were born rich in the sense that they had the potential to succeed, just like you do.
03:16But like most people, they began with little or no money.
03:21Understand this. You can succeed too. The key is to follow through with this process and stay committed.
03:28Let me share something personal.
03:31Years ago, I listened to a tape by Earl Nightingale called Attitude. On that tape, there was a line that stuck with me.
03:38We tend to minimize the things we can do and the goals we can reach, while thinking others can achieve things we cannot.
03:47I heard that line over and over, but it took a while for the message to truly resonate with me.
03:53Then, one day, it clicked.
03:56I realized that if others could do it, so could I, as long as I was willing to pay the price.
04:02And the same goes for you. You can achieve what you want, but part of paying that price is figuring out how much is enough.
04:09Don't just pull a number out of thin air. Take your time with this exercise.
04:14Write down everything you want and calculate the cost of that life. When you're finished, you'll be glad you did.
04:21This process won't just give you clarity on your financial goals. It will also help you develop a more disciplined mind.
04:29Now, you might be thinking, this doesn't apply to me because I'm already in too much debt to start saving money.
04:34But here's the thing. It's possible to become wealthy without increasing your current income, and this book will show you how to do that.
04:43By now, you should have completed your list and arrived at a figure.
04:47I want you to take that number and write it down boldly on a piece of paper. Make it clear and visible.
04:53This is your target, your financial goal.
04:57Now, let's move on to another important consideration. If you have a family to support, you likely want them to live well,
05:04even if something happens to you. It's not just about living for today. It's about securing the future for your loved ones.
05:11This is where life insurance and disability insurance come into play. You might think life insurance is a ripoff,
05:18but I assure you it's an essential part of financial planning.
05:24Having worked closely with the insurance industry for nearly a decade, I can tell you that many people are dangerously underinsured.
05:33Life insurance might seem like an expense you can skip,
05:36but it's the only way to instantly replace your income and create a secure financial estate for your loved ones.
05:43The sad reality is that most people, when they pass away,
05:47leave behind just enough money to cover their funeral and maybe a year's worth of living expenses for their family.
05:53But with a relatively small investment, you could ensure that your family's financial goals are met, even if something happens to you.
06:03Since this book is about helping you achieve substantial financial goals,
06:07it's important to understand that life insurance is a key component of a comprehensive financial plan.
06:15Remember, there are only two ways to earn money, by working yourself or by having your money work for you.
06:21So, what's your plan? How much is enough for you?
06:25The rest of this book is dedicated to guiding you on how to live a prosperous life,
06:29but it all starts with this fundamental question.
06:33Remember, you deserve to live the life you've imagined.
06:36So take action, stay focused, and let's get started on building your prosperous future.