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Do it right. As wealthy people, we them broke. They need to lead, Now, you’re not going to read this
make money inside our company, not do. stuff with Ramsey, Orman, and
the right company. Bach. Those guys are going to say,
Brian: Absolutely. We talk about “Pay down your debt.” Well, by the
Then we also put our money having people have their money time most people pay down their
away. We use IRAs, solo 401ks, work for them. I think society debt, you’re 40, 50, 60 years old.
and Roths. We put our money into teaches us that there are certain You have blown so much time
very protected structures. Then things they should do, but you from being able to invest. You
we get our money to work. Paying tell them not to. So what do can’t cycle out of it.
yourself first isn’t putting your millionaires not do with their
money in a little savings account money? Brian: Exactly. I know that you’re
for two cents. Pay yourself first a big fan of diversifying your
for a wealthy person is get your Loral: Pay down debt, or even investments, and you are in some
money to work in a real estate paying down cheap debt. Debt is really hot emerging industries.
project. I have my real estate team a cost of money. Wealthy people What hot emerging industries
out here that you’ll get introduced use debt smartly. If you have debt should people be putting their
to, Flip Wall Street. Get invested that’s at 3%, 4%, even 5% through money on right now?
where you can hedge out of the real estate or flip, for example,
market. and if you know you can make Loral: At the end of our article,
money for 10, 15, 20%, why would
The biggest three reasons why you pay down 5% money? We’re I want to give a link to a bunch
people don’t get rich are they don’t taught so poorly and most people of free gifts, and one of them is
do it inside a corporate structure, think, “I’ve got to get debt-free, my Wealth Cycle Investing book,
they don’t have any qualified and then I’ll learn to invest.” which teaches people about
plans, and they don’t get their “Money Rules” in chapter four.
money to work as an investment That is totally the wrong structure. One of the reasons people don’t
quick enough. Those are usually You make it. You start investing. invest is because they don’t know
the top three that wealthy people Then after you start investing with how.
do immediately. a cashflow, then you pay down
debt. Let’s just use a $24,000 car Start with the basics. Start with
Then the transition, Brian, from loan as an example. Let’s say that a note. It’s like a loan, but it’s
making it to keeping it, is you loan is for 2%. secured. Start with some real
have got to get help. That team is estate. Start with Flip Wall Street.
critical, and even if it’s a personal Instead of paying it down to have With most people that are
assistant, somebody to schedule a car, which is a depreciating asset wealthy, their money rules are
your appointment, somebody to with cheap money at 2%, put your they typically don’t loan to their
do your home chores. It’s critical $24,000 to work. Call it 10%. Say friends and family because they
that you stop doing it yourself. you do a real estate note in the just might as well do charity.
Getting a web designer. Why are first position. Now you’ve got
you doing your own Facebook? $2,400 a year. Divide by 12. That’s Now as far as the emerging
You’re no good at it. Why are you 200 extra dollars a month. You fun industries that are coming,
doing your LinkedIn profile if you preserved your $24,000 and have hemp is going to take the run
don’t know how to do it? They are $2,400 extra per year. Use the of a lifetime. It’s going to be an
experts. I wouldn’t do a magazine. $200 to pay down more towards amazing industry. Digital currency
Why would I try to duplicate what your car if you really want to get is not a fad. It is here to stay.
you already know how to do? your car paid faster, but don’t You’ve got to watch what you’re
It’d be crazy. I just go to you. You blow the $24,000. doing out there. I’ve been heavily
already know how to do radio. invested in cannabis now for two
If I want to do a radio show, I’m Wealthy people would never pay years, so I love that space.
going to you. Could I sit around off cheap debt. We would get
for three months and figure it our money working and using The fastest way you’re going to
out? Yes. I’m smart. But I say that cashflow. Anybody in wealth change your mindset and your
very candidly, Brian, because building principles writes about it relationship with money is you’ve
it’s critical that people who are from Buckminster Fuller to Robert got to hang out with us. Money
reading this realize that all the Kiyosaki. loves speed. Money does not like
things they’re doing are keeping slow analysis. You say, “Yeah,

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