hi everybody i’m jim rohn I want a
pleasure it is for me to come and visit with you for just a few minutes here
today tell you briefly a little bit about my story and share some ideas that
might be beneficial I’ve lectured in some high school
classrooms in California and Arizona and universities and colleges pepperdine
university san diego state arizona state university and so I’ve had a chance to
talk to kids that are interested in themselves and invested in their future
interested in America interested in what they can do with their lives and
listening to stories that might be beneficial and I don’t have a chance to
you know visit all of the schools and universities around the world so this is
a great chance for me by video to have a chance to tell you my story just briefly
let me tell you my story I grew up in Idaho farm country my father still lives
on the old homestead where I grew up south western Idaho he’ll be 91 his next
birthday and I’m very proud of him I went to high school I graduated I went
to college one year halfway through my second year I decided I was smart enough
so I quit one of my major mistakes I should’ve stayed in school but i thought
you know heck I’m smart enough to get a job and back then I thought you know
that was it if you’re smart enough to get a job what else would you need found
out later a big mistake but anyway I quit school at age 19 went to work a
little while later persuaded a beautiful young lady to marry me with a lot of
fancy promises and fortunately for me we got married a little while later I
started my family and I’m out there working are doing the best I thought I
could but year by year i kept falling a little further behind I you know buying a little more than I
could conveniently pay for on time and uh the Predators are finally starting to
call saying hey you told us the check was in the mail I’m not feeling it all
good about that about age 25 I’ve got pennies in my
pocket I’ve got nothing in the bank and way behind on my big mouth promises to
my family and wondering what could I do to make my life better I was willing to work hard that was not
my problem but I just wasn’t making the progress i wanted to make and then good
fortune came my way sometimes it’s difficult to describe good fortune why
something remarkable happens to you at a particular time one of my friend says
well hey things don’t just happen things happen just and maybe that’s it i don’t
know but my good fortune was I had a chance to meet a very wealthy man his
name was mr. show mr. will show a friend of mine had gone to work for him and he
started telling me about this man he said you gotta meet this man he’s rich
but he’s easy to talk to and he’s got a remarkable philosophy of life and he
kept going on and I thought well I’ve got to meet this man so shortly after
that I had a chance to meet this mr. show and I was impressed he was rich he
was easy to talk to within a few minutes I was dazzled and I
said to myself I would give anything if I could be like that rich and easy to
talk to what would it take and then I thought if I could just get
around somebody like him and if he would teach me and coach me I would do it all
and that was my good fortune a few months later this wealthy man mr. show
hired me and gave me a job and I went to work for money spent the next five years
in his employ and then unfortunately at age 49 he died but i got to spend five
years with this remarkable man his last five years of his life and the first
five years of my new life and my dream came true during that five year period this man took the time to teach me and
coach me he taught me the books to read he taught me the disciplines and he
taught me the skills and he taught me the changes to make in my language and
personality and the things he shared with me during that five years changed
my whole life change my income change my bank account
change my future I’ve never been the same about the time
I was 31 years old I was a millionaire so he taught me economics as well so how
lucky can you get to meet the right person at the right time who takes the time to share with you
ideas that can change your life a lot of rich people right don’t take the time
that he did and he also had the ability some people want to share their
experiences but they don’t quite know how to say it but he had it all and he
used language that i could understand and those ideas greatly affected my life
I wish she was still alive today if he was I’d be calling him today one more
time thanking him for the time he spent with me sharing his life and his
experiences that so dramatically affected my life then how I really came
to be invited to speak to you today 30-plus years ago I was living in
beverly hills california and a friend of mine one day said Jim you’ve got to come
and tell your story to my service club he belonged to the Rotary Club and he
said I know your story Idaho farm boy makes it to Beverly Hills but he said I
know my club members would love to hear your story would you come and and at our
breakfast meeting until your story and I said okay so I arranged a little talk
went and shared my story that morning and guess what they liked it in my phone
rang and other Club Collins that would you come and tell us that story my phone
rings another club calls that we’ve heard about your story we have a
luncheon meeting would you come share your story first thing i know i’m
spending a little piece of my time giving these breakfast talks and
luncheon talks and then one day a man who heard my talk about three times that
would you come and talk to my management and sales people he said I’ve got this
little company going and see if you he said if you would spend some time
talking with my management and sales people i’d be happy to pay you and I
thought wow wouldn’t that be something I tell my story and my experiences and
get paid he said I’d be happy to little did I know that was the beginning of a whole new brand new adventure for
me in sharing my story and speeches and talks and seminars and lectures and now
this business become one of my most flourishing enterprises takes me around
the world i went to many countries just this year had my largest audience early
this year in Spain 12,000 people 10 different languages being translated at
the same time the whole audience with the earphones on it’s interesting when
you lecture with multi-languages you know when you hit the punchline you know
the Spanish laughs first and then the French get it and then finally the
Italians get it and last the Germans finally get it and then I say hey the
Germans finally got it i guess we can continue you know some languages take
long longer to translate then other languages but what an exciting adventure
for me i was in Israel this year i lectured in France my first trip to
prague czechoslovakia lisbon portugal last year I was in London lecturing
happened to be there the same night Pavarotti was singing in London so big
dilemma for the people in London shall we go see jim rohn or shall we go
listen to Pavarotti well I must admit he had more people than i did like a
hundred and fifty thousand more he did a free concert in hyde park and
they expected a quarter of a million but only a hundred and fifty thousand showed
up because it rained and they all got soaked from Prince Charles on down but
they sat in the rain and listen to Pavarotti I would have been happy that
evening right to cancel my seminar and go sit in the rain and listen to
Pavarotti anyway he and I have a great now not to appear in the same city on
the same day anymore not really but how exciting for me to be
able to travel all around the world and share my story and then especially to
have this chance today to come and visit with you and when i get a chance to
speak at it at a high school class or a university class i’m always excited
about it i’m limited in time so i wanted to use this way a to come and share my story with you
and some ideas that might be helpful in your career for the future in your now
busy life as a student and then wherever you find yourself in the years to come some of the things i’m going to share
with you i want you to remember for a long long time because the ideas i want
to translate for you drastically affected my life and if i can share now
and affect your life and you write me a letter or tell me in person someday mr.
own i listen to your video and i watched it carefully and sure enough some of the
ideas that you shared greatly affected me and here’s what happened to my bank
account here’s what happened to me in school here’s what’s happening to my future
that will give me great great satisfaction so the man who shared with
me ideas that changed my life i want to share with you three of those basic
subjects I when I met him I was 25 years old and
uh when i first got acquainted with him i used a lot of excuses as to why i
wasn’t doing well and he said will tell me a little bit about your story and I
told him you know I was behind on my bills paid pennies in my pocket nothing
in the bank but I was embarrassed about being behind on my big mouth promises to
my family and then he gave me one little simple phrase that really forever
changed my life and here’s what he said Mr own if you want the future to change
for you you’ve got to change and he said if you don’t change the next six years
of your life is going to be just like the last six you’ll still be behind on
your bills you’ll still be behind on your promises but then he gave it to me
in the form of a promise when I was 25 years old I’ve remembered at all these
years and I’ve shared this promise now is probably over 3 million people in the
last 30-plus years and it’s going to be valid for you so listen carefully to
this promise my teacher said to me young man if you will change everything will
change for you if you will get better everything will get better for you what a clear message that was for me he
said if you change your philosophy you change your habits if you refine your
think if you change and accept some new
disciplines if you’ll turn the corner where you’ve been in the past go for a
new life of the future he said all kinds of remarkable things will happen for you
if you will change before i met mr. shelf i used to cross my fingers and say
I sure hope things will change I was hoping the government would change
and the tax structure would change and that my boss would change and pay me
more money i was hoping that you know economics would change and prices would
come down and I was hoping that circumstances would get better and then
I discovered from my teacher that those things are going to continue the same in
fact all of those things that happen to us is kind of like the wind that blows
and the wind blows on us all in fact in America especially the last six and a
half thousand years of recorded history we’ve got probably the most favorable
wind that’s ever blown economics and circumstances living in a free country
democracy and freedom a an excellent economy sure we struggled at times but
compared to the rest of the world and the last six and a half thousand years
we’ve got the best wind ever but if you just let the wind blow I’m telling it won’t take you where you
want to go all of us must use this wind to take us to the dreams we’ve got to
the equities we want to the money we want to the income we want and to all
the things we want our life to have this is where we want to go and we’ve got a
good wind but we must not leave our future just to the wind just to the
economy just to the structure of the way things are happening today here’s what we must learn to do and that
is set a good sale and if you learn to set a good sale and that’s what my
teacher taught me in those early days he said Mr own the wind is going to blow
however it’s going to blow politics are going to be politics and the economy is
going to be the economy and however it turns out that’s the way it’s going to
be what you must learn to do is not to wish for a better wind that’s naive key is to wish for the wisdom and the
skills and the learning so that you can set a better sale and so that’s what I
did at age 25 i went to work not on the economy i went to work not on the
community I didn’t go to work to try to change the
government I didn’t go to work to try to change my boss or the company i didn’t
go to work to try to change circumstances i went to work to try to
change myself and I picked up that promise my teacher shared with me that
if I would change my income would change if I would change my bank account would
change if I would change my future would change and sure enough his promise came
true for me the first six years of my economic life i wound up broke those
pennies in my pocket nothing in the bank behind on my promises the second six years of my economic life
i wound up rich but interestingly enough the second six years of my economic life
the government was about the same and the economy was about the same you know
the companies were about the same what they paid was the same circumstances
around me were the same you know my negative relatives were the same but I
was not the same that’s how my life changed that’s how
things started working for me changing my life all those years ago so that’s what i wanted to share with
you to begin with this beginning of what mr. shared with me that if I wanted my
life to change this is what i was going to have to do and so he broke it down
into three subjects that really made an impact on my life and I want to share
those with you the first subject he called personal development and the
second subject he called setting goals and the third was how to become
financially independent and I’d like to give you just a few clues from those
three major subjects that that so dramatically affected my life and let’s
get started the first one is personal development now in illustrating personal
development mr. shelf my teacher started with money
you know money is not the only place to start in talking personal development
but it’s where he started so let me share the thoughts he shared with me
back then let me share them with you here’s the best lesson I can give you on
economics it’s very simple we get paid for bringing value to the marketplace
that’s about as simple as I can put economics we get paid for bringing value
to the marketplace now it takes time to bring value to the marketplace however we do not get paid for time so
we cross that out mistakenly the man says I’m making about twenty dollars for
an hour not true if that was true you could just stay home right have them send your money so that’s not
true we don’t get paid for time we get paid for value brought to the
marketplace now since that’s true here’s one of the key questions of my talk to
you today is it possible to become twice as valuable to the marketplace and make
twice as much money in the same time is that possible answers yes could you
become three times as valuable as you might be right now to the marketplace
and make three times as much money in the same time in the answers yes five
times ten times of course America’s unique it’s a ladder decline it starts
down here let’s say at five dollars an hour and it keeps going up top income
last year 80 million dollars the guy who runs coca-cola now that’s a
heck of a ladder why everybody wants to come here write the book people are not
headed for Vietnam people have applauded and scheme for 50 years saying if I
could just get to Poland everything would be okay not true everybody wants to come to
America and the reason is because we’ve got the best wind ever blowing in our
favor we’ve got the best Economic Opportunity
anybody’s had in six and a half thousand years and all you have to do is
understand it and take advantage of it now there’s
some key questions to ask here why would the marketplace pay someone only five
dollars an hour very simple answer they’re not very valuable to the
marketplace now we must underline to the marketplace this person might be a very
valuable brother yes remember the family valuable yes valuable member of the
church of course valuable citizen of the country yes valuable in the sight of God no
doubt we’re all of equal value in the sight of God but if you’re not very
valuable to the marketplace you don’t get much money you say well it shouldn’t
be that way well then you’ve got to start your own
country you know this one’s been in process for 200 years and this is the
best we’ve been able to come up with so far but here’s the key you don’t have to stay here now there
was a big debate in Congress last year that this five dollars was not enough
should be six should be six should be six but we don’t need legislation six is
already on this ladder the next step up you know if you work for McDonald’s
they’ll pay you five dollars an hour to take out the trash if you whistle while
you take out the trash they’ll pay you six dollars an hour so we don’t need
that legislation you need to just need to take lessons on how to whistle have a
good attitude now as you begin to climb this ladder why would the marketplace pay some
people fifty dollars in our answer evidently they must be more valuable to
the marketplace 10 times more valuable and is that possible for someone to be
ten times more valuable and fifty dollars an hour instead of five the
answers yes that’s what America is all about now why would the marketplace pay some
people five hundred dollars an hour evidently this person must be much more
valuable to the marketplace that’s what’s important to understand to the
marketplace and with the marketplace pay one person 80 million dollars for one
year’s work and the answer is of course if you help too company make a billion dollars would
they pay you 80 million i’m telling you it is possible and that’s why America is
so exciting that’s why this financial ladder is so exciting it’s possible for all of this become
true for all of you no matter where you start as a student in school just
getting started out there in the workplace this is all possible for you now mr.
chef gave me the clue on how to climb this ladder as high as I want to decline now we’re talking primarily economics
here there’s a lot of other ways to become valuable to your family valuable
to your friends valuable to the community valuable to the team right
valuable to the to the team effort valuable to the concert but here’s what
he said to me in climbing this ladder economically all you have to do is work
harder on yourself than you do on your job once i heard that it made sense to
me I kept hoping that everything else would
change around me found out that if I went to work on myself worked on my
skills worked on my language if I became better than I was each year if I grew in skills and
language vocabulary and competence then I would become attractive to the
marketplace not very long ago a company called me
and said Mr own were expanding internationally we’d like to have a bit
of your expertise to help us would you give us a bit of your time we’ll add
some millions to your fortune and I said okay and I thought later isn’t that
interesting they would call me then my second thought was of course they call
me who else would they call i can get the job done now what a contrast for me farm boy from Idaho raised in obscurity
parents of modest means broke when I was 25 how come I would get a telephone call
and someone offered me a lot of money to help them in expanding around the world
simple answer evidently something happened to me between age 25 and where
I am today and I can tell you where it all started for my teacher mr. show who
said to me we don’t have to change what’s going on
out there that’s the wind is blowing all we have to do is change what’s going on
in here and now there are several ways to do that on personal development and
let me give you those ways here’s the first one we must learn from
personal experience pretty simple learn for happens to you take a look back over
the last few months did you make some mistakes how could you
correct those for the future take a look back over the last year have
you done it right or done it wrong let’s correct it for the next year learn
from your personal experience mr. show fast me when I first met mr. on how are
you doing you’ve been out there now six years and i said i’m not doing very well
he said I suggest you not do that anymore what a simple Swift analysis to my
situation he said if you keep doing it the next six years will be like the last
six you don’t want that to happen let’s make the changes so learn from
your personal experience now here’s number two why I came to share this
video experience with you today and that I call it ope other people’s experiences that’s me other people that’s your
teacher other people that your friends and colleagues other people the people
you meet that can pass along to you their experiences what’s happened to them the mistakes
they made how they corrected them how they change their health and change
their bank account change their income and change the future that’s it other
people now there’s two kinds of people to learn from one as failures it’s too bad failures don’t give
seminars right that would be valuable bring your notebook having tell you how
they lost it all and through it all the way through their health away through
their friendships away and things didn’t work out well that would be valuable but
now then we must also learn from positive people that have done well
they’ve got the health and so we asked them how did you become so healthy they’ve got the skills so we asked them
how did you become this skillful they’ve got the income so we asked him how did
you get here in such a short period of time so now here’s what’s important in personal
development in learning from other people we learn number one by
observation we learn what we see we watch people that are successful in what
they do in sports we watch their disciplines in business we watch their
disciplines by observation what we can see the reason I created this video with
something that you could see someone’s experiences translated for you second we learned by what we hear i’ve
got some of my lectures on cassette tape so you know you can take them with you
wherever you go and learn by listening turn your car into a mobile classroom
and listen and then listen to the sermon on Sunday morning listen to the lectures
listen to the teacher listen to someone who’s got something
good to say and then number three is vitally important on personal
development and that is read all the books all the books you can possibly
read in your lifetime mr. chef got me started on my library I’ve got one of
the better libraries haven’t read everything in it but I feel smarter just
walking in it by library at least I was smart enough to buy it now i gotta be
smart enough to read it then of course I got to be smart enough to decide what’s
valuable and then do it but this one is very important become a good reader of
books that helped change my life mr. chef recommended of course the Bible and
my parents made sure I was a pretty good scholar but the time I was 18 that’s been so beneficial for me drawing
from those illustrations reading about those stories people who made it and
people who didn’t make it and what the difference was and then other books that
help to really change my life one called think & Grow Rich by Napoleon Hill and
then a book that helped me become financially independent the time I was
31 and that book is called the richest man in babylon by George clason and i’m
going to share a little bit of that book with you when i get to financial
independence today our third subject but I started reading the books attending
the classes making sure that i got in front of people that had something good to say and then I started keeping a
journal one of the major things my teacher taught me was to keep a journal he said don’t trust your memory if you
hear something good just make a little note write it down now at first I took
no notes on pieces of paper and torn off corners and backs of old envelopes and
it didn’t serve me well you know thrown in a drawer then I learned to keep a
journal a bound copy of all my notes so i would suggest you do the same things
that impress you a poem that impresses you when you attend a class some of the
ideas that impressed you jot them down you read something in a magazine right
some ideas take those out put them in your journal keep a good journalist rest
of your life this will serve you well my journals
make up a significant portion of my own library and if you saw my library and
saw my journals I tell you what you have to say this is the library and these are
the journals of a very serious student no wonder mr. own is invited to lecture
and speak on his experiences around the world so I want the same thing to happen
to you value captured that you can resort to later go back over it review
it and let it become valuable to you so that’s my first subject personal
development work harder on yourself than you do on your job develop the skills
learned the lessons take the classes absorb all that is being taught to you
these days and then later on of course you can sort it out what’s valuable to
you and how to refine it for your business and for your life and for your
future but the main thing is to get it and start this process of personal
change personal development and let me say it one more time if you will change
everything will change for you you’ll never be the same you’ll keep growing as you look back on
a few months look back on a few years you won’t believe the progress you can
make economically your relationship with your family your friends and whether
you’re in sports or economics or whatever and telling you that whole
process of committing yourself for personal change personal value can
really make your life unique and worthwhile now let’s cover the second subject on
setting goals mr. Shaw gave me some tips on setting
goals that changed my life forever and I want to share those with you so let’s
talk about setting goals and i also want to tie it to personal development and
you’ll see how I’m going to do it as I progress you’re setting goals we need to
take a look into the future there are four things to consider in
terms of attitude one is how you feel about the past best advice I can give you on that is
treat the past as a school let it teach you the mistakes you’ve made the things
that went wrong things that didn’t work don’t use the past as a burden to carry
and don’t use the past as a club to beat yourself to death passed losses past
failures past mistakes but let the past be a school tough school maybe we’ve all
been through some tough stuff so if you feel good about the past draw from it
for experience and let it teach you then next is how you feel about the future we’ve got to have the future well
designed the future is called the promise and here’s what we teach in our
leadership series the promise of the future can be an awesome force for your
own future the promise of the future designing the future there’s two ways to
face the future one is with apprehension and the other is with anticipation I promise you in my travels around the
world most people face the future with apprehension and here’s why they don’t
have it well designed they’ve sort of left that up to someone else to fix but
here’s the best way to face the future with anticipation and you can in you can
face the future with anticipation if the future is clear if the future is
well-designed and i would like to have you consider some thoughts with me that
helped me to really change my future by giving it some thought consideration and here it is in setting
goals it’s very simple number-one decide what you want you just take a little
time you sit down and say what do I want what kind of skills do I want what kind
of income do i want for the future of what would I like where would I like to
go places i’d like to visit I habits I’d like to acquire skills I’d like to have
you just take a little time to think about what you want economics friendships people you’d like
to meet places you’d like to go you just take some time and then I
suggest when you thought about what you want for the future make a list just jot it all down so
really a very simple process and then here’s number three keep all the old
list i’m telling you this served me so well keeping my old list of goals I look
back now 1020 years ago at goals I set list I made and I smile now because
here’s what i thought was so important you know 20 years ago now some of those
things aren’t even on my list I’ve got a new list I’ve grown I’ve
changed I’ve matured but I give you that advice
decide what you want number to write it down number three keep the old lists and
then here’s number four when you get something that’s on one of these lists
check it off part of the fun of having a list is checking it off and then if you
can add some drama to checking it off see that what really helps i set a goal
to go to Spain many many years ago and when I finally made my first trip to
spain i had that journal with me that had that list in it and while I had my
journal on my lap waiting for the wheels to touch down in madrid i waited until
the wheels touch the runway and I checked it off just adding a little
drama so part of the fun of having a list is checking it off now here’s
what’s important about the list and designing your future if the future gets
clear the price gets easier because you gotta remember for every promise there’s
a price to pay everybody’s got to pay the price
everybody’s gotta do the deal everybody’s gotta do the disciplines
everybody has to pay but here’s what i’ve discovered if the promise is clear
and powerful the price is easy to pay the price is some classes the prices a
few books the prices a few disciplines the price is finding something that will
make your life better make you grow make you change make you develop so the first
part of the key is to design the promise then what is the price to pay I’m
telling you the price will be easy anybody in my audience complain no
matter where you are where you come from color doesn’t matter religion doesn’t
matter where you grew up doesn’t matter circumstances don’t matter i’m telling
you if you’ll make the promise of the future clear for yourself the things you
want the places you want to go things you want to have the person you want to
become the skills you want the homes you want the future you want the friends you
want all of the values of life that you could possibly want if you make that clear make those lists
and be serious about it I promise you it’s an easy price to pay anybody can
pay it and the best advice I can give you is if i can do it you can do it farm boy from Idaho raised in obscurity
I changed my life turned upside down turned it all around found economics
found future found promise and if i can do it you can do it so start setting your goals and see if
you can’t get a better excitement going for the things you want to accomplish
for the future now here’s my third subject and that’s
called financial independence oh by the way before i get to financial
independence let me cover one more . one of the major reasons for setting goals
is for what they make of you in achieving them my teacher advise me when
I first got started at age 25 he said Jim why don’t you set a goal to become a
millionaire he said it’s got a nice ring to it you
know enough zeroes to impress your accountant and he said I’m here to help
you you’re only 25 years old dependable year of college you’ve got a beautiful
family every reason to do it I don’t you set a goal to become a
millionaire and he said here’s why and I thought he doesn’t need to teach me why
wouldn’t it be nice to have a million dollars he said no then you’ll miss it
he said here’s why for what it will make of you to achieve
it I’m telling you that statement changed
my life set the kind of goals that will make
something of you to achieve them he said now once you become a
millionaire what’s important is not the money i thought that’s kind of strange
teaching he said honest it is important that you could just give the money away
now I did better than that I lost it all the time I was 30 when I was a
millionaire by the time I was 33 I was broke and i’ll tell you a little about
that story later but when I lost all my money guess what i found out mr. chef
was right what was valuable was not the money what was valuable with what I became to
earn the money the skills i had the knowledge I had about the marketplace
the values that I had going for me they were more valuable than the money and
here’s an important statement to remember it’s not what you get that
makes you valuable it’s what you become so part of the key here is to set the
kind of goals that will make something of you don’t set them too low so that
you don’t have to grow and you don’t have to read you don’t have to try and
you don’t have to stretch don’t set them too low and then don’t sell out don’t go for something that’s going to
cost you your virtue or cost you your values or sell out your principles there’s a good middle road here to
follow goals that will inspire goals that will help you grow change develop
and become better than you ok now let’s talk about financial
independence how to become rich by 4035 if your extra bright much sooner if you
find an opportunity like I did let me show you how I did it financial independence first of all I like the phrase financial independence some people are a little bit concerned
about using the word becoming rich or becoming wealthy and I can understand
that I struggled a little bit with this is it ok to go for becoming rich go for
becoming wealthy and maybe that’s a bit too strong the word or strong the term
so here’s what I’ve come up with that I think it’s comfortable for me and that
is how to become financially independent I think it’s every person’s heritage
here especially in America to become financially independent now let me give you my definition of
financial independence financial independence is the ability to live from
the income of your own personal resources financial independence now it
depends on how you want to live if you need to three thousand dollars a month
if you need for 5,000 a month if you need 10,000 a month some people may need
you know hundred thousand month but whatever you would need to live and you
could earn that living from the income of your own personal resources that’s what i call financial freedom
financial independence and let me show you how to acquire it if you start at
age 15 between ages 15 and 35 is 20 years and in my personal opinion based
on my own studies in my own experience 20 years in my opinion is enough time to
become financially independent if you’re not you don’t live in the wrong country
probably what’s happened is you have the wrong plan and it’s easy to be a nice
person with the wrong plan i found that when I was 25 years old I was broken age
25 and I was a nice guy you would have liked me but I’m telling you my plans up
until then especially my financial plan left me broke I totally changed at the next six years
and I became financially independent so i know what i’m talking about it is
possible in a reasonable amount of time 15 to 35 whatever 20 years time enough
time you can do it much shorter period of time like I did if you want to but
this is a reasonable enough time but here’s number one first of all you
gotta have the right philosophy philosophy is our ability to gather
knowledge and sort through it and decide what’s valuable to develop a philosophy
about life philosophy about our health a philosophy about our family
relationships a philosophy about economics and if you develop the right
philosophy that’s what helps to set this sale so that in six years it takes you
where you want to go instead of winding up like I did that first six years of my
economics broke no money empty bank account the right philosophy now let me
give you a couple of philosophies to consider here’s the first one is called
the philosophy of the poor and here it is poor people usually spend their money
and invest what’s left that’s the philosophy of the pool now here’s the
philosophy of the rich rich people invest their money and spend what’s left
and here’s the startling answer it really doesn’t matter what the amount is
what’s most important is not the amount what’s really important is the
philosophy so I would ask you to adopt this philosophy of spending after you
have invested invest first then spend and I’ve got a little formula that i’m
going to share with you now what should a child do with the dollar I mean there’s a lot of debate going on
i’m sure across the country on what a child should do with the dollar here’s
one opinion it’s only a child that’s only a dollar what difference does it make well in my
opinion it makes all the difference in the world a person’s economic future
starts with the child with the dollar summarizes all know you’re only young
once let him spend it all well when would you hope that would stop somebody
says well wait at least 15 broke like me and you know and then you learn well no
we don’t want to wait that long if I would have known earlier than age 25 i
would have changed in high school if I if they would have had classes called
wealth one wealth to I’d taken both classes i would not have waited until
age 25 so the earlier the better so what should a child do with a dollar
here’s the simple premise to begin with don’t spend it all and if a child wants
to spend the whole dollar you gotta say don’t spend it all you know don’t spend it all they’ll say why not
my dollar I earned it you say I know you earned it but don’t spend it all they’ll still say why not say let me
show you why not so you put them in your car taken to the
other side of town and show where people live that spend the whole dollar just drive around kids learn best by
visual just drive around and say would you like to live here kid says no would
you like to live like these people lived it says no then you can’t spend the
whole so kids will get the message so you know taking the other side of town
show around unless you already live there and then just show him around
anyway don’t spend the whole dollar now let me give you my best view of what
to do with the dollar and i promise you if you started at age 15 if you’re over
15 right you still got plenty of time still got
20 years you know if you’re 30 years still got 20 years I mean you know you
still got plenty of time to start what i’m about to share with you what to do
with the dollar here’s my first bit of advice never
spend more than seventy cents never spend more than seventy cents now you gotta pick some number and the
number you pick is going to be determined by your philosophy is going
to be determined by what you’ve been talked for your experience teaching
yourself when I first met my teacher mr. show i was at about a hundred and ten
percent of each dog you know i’m down at budget finance Hawking my furniture in
my car one more time and then I learned a whole better formula for financial
independence number one don’t spend more than seventy cents now kids say to me
well okay what do I do with the other thirty cents and here’s what i teach
them ten cents for charity charity or church or helping people that
can’t help themselves ten cents to support worthy projects
projects that you feel good about ten cents out of every dog it’s called being generous with part of
what you’ve taken out of society now in my opinion nothing teaches us character
better than generosity no class no teacher notebook teacher generous
teaches character better than generosity and the best time to start is when the
amounts are small and I know if kids learn these lessons well they all give a
dime out of a dollar help people who can’t help themselves support worthy
projects or if you belong to a church they teach tied piece of that’s very
important now because when the amounts get larger sometimes it’s a little more
difficult you know giving a hundred thousand out of a million someone says
oh if I had a million not give a hundred thousand i’m not sure that’s a lot of
money so the time to start is when the amounts are small ten cents out of the
dollar ok next ten cents i call active capital
active capital means do something to make a profit aktiv kapital set aside a portion of
your income wages are okay but i’m telling your wages will make you a
living prophets will make you a fortune so set aside part of your income as
capital called active capital any kind of project you can possibly think of you
can possibly come up with I’m gonna write a new book i think for
kids i think the title is going to be of course kids should pay taxes it’s kind
of an interesting title in California kids do pay taxes when a child walks
into 7-eleven by something that costs a dollar the proprietor says give me seven
more pennies and the child says hey what’s the seven pennies for the
proprietor says that’s the taxes kids this way I’m only eight years old proprietor says congratulations you’re
my youngest taxpayer give me the money so in california where i leave kids do
pay taxes big question is should they in my book will answer that question of
course horse kid should pay taxes nothing is
for free if you want to ride your bicycle on the sidewalk instead of in
the mud you gotta pay the seventh innings
nothing is free so we all have to pay so ten cents out of your living out of the
money you earn set aside for capital capital to try your best to show a
profit and in my books gonna be all kinds of ways kids can make money right
to bicycles one to ride one to rent and you know it doesn’t take long to figure
out some Enterprise it’ll start making a profit then you must drop this down if
you’re taking notes profits are better than wages one you can’t usually start
wages until your about 16 15 16 but you can make a profit long before you’re
eligible to start earning wages and then there’s no limit to profits and they can
they can double and triple and quadruple you know there’s no limit it’s incredible how fast profits can
grow so profits are better than wages wages make you a living prophets make
you a fortune now the third ten cents is vitally
important I call it passive capital capital you
let somebody else use a financial institution stocks and bonds mutual
funds whatever let someone else use it you furnish the money they use it to
make a profit but they pay you for the use of it called interest and here’s one
of the things that will make you financially independent fairly quickly
and that’s called compound interest and this is how you get it letting someone else use a portion of
uber honey your substance they show the profit they pay you interest in this
passage capital and telling you over a sustained period of time if you develop
this little 10 10 10 and seventy especially starting at age 15 I’m
telling you by the time you’re 35 you will be financially independent you’ll have the ability to live from the
income of your own resources and then one more point on passive capital
there’s a Bible philosophy I’m an amateur on the Bible but there’s a Bible
philosophy the team is the borrower is servant to the lender
and if you want to be in a powerful position as you grow older finally when you become mature maybe
have your own business things have worked out for you for the future the
position you always want to be in the power position and that’s called the
lender the lender is the power position so if kids learn early enough when you
asked what they’d like to be when they grow up I’m telling you once they
understand i’ll say well one of the things I want to be is one of those
lenders that’s the power position not the spender know you’ll be pitied the
rest of your life if you just become a spender you got to become a lender and I think
this is what formulas to follow ten cents out of every dollar that someone
else use it be the lender power position then try to show a profit can we teach our children how to take a
dollar search the neighborhood find a broken wagon pay a dollar for it bring it home you know clean it up sand
it until it’s cleaned painted red till it shines straighten out the wheel still
there true take it back to the neighborhood sell it for five dollars anybody can do that now does the child
deserves four dollars profit answers yes society now has amended way that’s what
America’s all about finding something touching it making it better making a profit taking part of your
resources helping people who can’t help themselves let someone else use it to make a profit
some projects require more capital and one person has exciting and then let
them pay you for the use of it America’s had this philosophy now all
these years communism is taught all these years
capital belongs in the hands of the state not in the hands of the people
we’ve been teaching all these years capital belongs in the hands of the
people not in the hands of the state and we turned out to be right capital in the hands of the kids capital
in the hands of the people enterprises that make a profit enterprises that grow
its the hope of our future so that little simple formula i hope will help
you now one more key on financial independence and that is attitude
attitude here’s number one I used to say I hate
to pay my bills my teacher straighten me out on that he said let’s see mr. on
what you hate to do is pay a hundred dollars on an account and reduce your
liabilities and increase your assets i said well no not if you look at it that
way he said well it all depends on how you look at it so wouldn’t you love to
pay your bills reduce your liabilities increase your assets you gotta have that
kind of attitude i found out the same attitude about taxes I used to say I hate to pay my taxes to
show said well that’s one way to live but don’t you understand taxes how we
care and feed the goose that lays the golden eggs wouldn’t you want to do your share
someone’s yes but the group seats too much probably true but hey we all lead
to much we all need to go on a diet better a fat goose and no goose so i finally became a happy taxpayer now
I think taxes are too high so i’m working to get taxes lowered for our
economic future but then whatever they turn out to be i gladly pay do my part
because that’s what makes the whole system run each of us doing our part now
I want these three subjects to be valuable for you i want them to have
meaning for you i want you someday to be financially independent I want you to have the personal
development so that you feel good about yourself if i had a chance to meet you someday
I’d like to have you show me the list of goals that you’ve got started and say
mr. on here some I’ve already checked off here’s the books i’m reading now
here’s what’s happening i’m developing the skills I better this year than it
was last year I’ve got more self-confidence my skills are developing
that’s what I want for you and that’s why I took the time to come and share in
this video message with you i do seminars all around the world that this
is one way that I can reach out and touch you in case you can’t come to my
seminars wherever I am maybe this video will reach you
somewhere and it will have an impact on your life and what I’d like to do is
later hear about it a letter phone call or two have a chance to meet you in
person and now I’d like to leave you with these four questions called questions to ponder these
questions were valuable for me and I want to make them valuable for you
here’s the first one why we all ask why we should work this
hard why take that many classes when i go to school at many years you know why
take the notes while i read the books why work that hard why put yourself
through the push-ups and the disciplines why good question why best answer to why i
think is the second question why not why not see how many books you can read how
many classes you can take how many skills you can develop why not see how
valuable you can become to the marketplace into your friends into your
family why not see what you can make of
yourself why not see how far you can go how much you can see how much you can
learn how much you can share why not that’s the Heritage all of us have in
America specialist to see what we can make out of our lives now that we’ve been given this
extraordinary opportunity now my third question I’d love to ask you in person
but since I can’t do it in person i want to ask it of all of you but I want you
to take it personally and my third question is why not you why not you with good self-esteem why not you starting to change and
setting goals why not you starting to make progress
toward financial independence if i can do it you can do it i wished i had a lot
more testimonials here today besides mine a whole steady stream that would
come by and tell you their story someone who started with nothing finally run a
big enterprise a mother who was on welfare now she owns her own business in
addition to my story i wish i had a lot more and if all of them told their story
guess how they would probably wind up there store they’d probably say just
like me why not you if we can read you can read
if we can change you can change if we can figure it out you can figure it out
if we can turn it around you can turn it around there’s anything you can accomplish
that’s what those testimonials would say and so I want to say it to you
personally why not you you’ve got the brains you got this the stamina you’ve got the vitality
you’ve got the interest you’ve got your life ahead of you got the future you can
do it anybody can do it you can do it one of us can do it hey we all can do it
now here’s my last question why not now this is a good time as the 20th century
starts to whine down few more years as we get ready for century 21 what a good
time to set your goals work on yourself work on your skills what a good time to
get it together what a good time to start this process personal development
growing changing developing having a good plan for your money and for your
life and for your future why not now and i hope i have a chance
to see you in these days and share with you the experience the reaction response
you might have had from my message today until I get a chance to see you on the
side of the world or the other side of the world in some school or some seminar
or maybe I’ll come and speak for a company that you work for someday I hope
I get a chance to meet you until then I wish you the best I want all that I’ve gotten to be yours
and much much more god bless goodbye