Today is going to be a bit of a different show. I’m not going to be my usual giddy and chipper self; there will be swearing. If you’re sensitive to explicit language, I would suggest you turn off the episode now and wait for next week to roll around.
If you do decide to stick around, we’ll be talking about the bullshit that we all keep telling ourselves. As Americans, we’re pretty good at lying to ourselves. But if we continue to ignore the truth, it’s going to lead you down the path to a very painful failure.
Have you seen the greeters at your local Walmart? They’re usually older folks, and I think we all know they’re not there just because they’re bored. I doubt they’ve just gotten tired of traveling around the world and crossing off their bucket list. They’re there because they still need the income, even at 60, 70, or even 80 years old.
On Monday mornings, I mentor a group that focuses on getting their week started with the right motivation. From this group I’ve heard every excuse you can think of as to why they haven’t taken action yet. Here are a few that I’ve heard so far:
- My job will support me until I figure out something better.
This is completely false; no one is bullet-proof from getting fired. Even if you’re a doctor or a lawyer, you still aren’t safe from the real threat of a pink slip.
- My spouse will support me.
You shouldn’t need your spouse to support you. You need to create a lifestyle that can support you AND your spouse so you’re both financially free.
- My parents will support me.
For those still living with their parents, regardless of whether you’re paying rent or not, you need to get out on your own. It’s time to cut the cord and be an independent adult.
- Social security will take care of me.
Social security isn’t a guarantee unless you’re receiving it right now. If you’re younger than retirement age right now, I wouldn’t count on social security helping you in the future.
- I can live on my student loans until I figure things out.
Your loans aren’t meant to support YOU, they’re meant to pay for your tuition to the college of your choice.
- I’ll pay this credit card off later, but I have to have this doodad RIGHT NOW.
You have to be willing to take the action to go out and get a cash-flowing asset that will pay for that doodad. Charging it off is only going to increase your bad debt and make it that much harder to get out of the rat race. I’m no better than anyone else when it comes to purchasing new toys, but the difference is I have assets that pay for them.
- I deserve time off because I work 40 hours a week.
Why are you still working a 40-hour job? Why aren’t you working SMARTER? I’m not the most efficient person in the world but I manage the managers instead of doing all the drone work myself. By having those assets in place, I only have to work as much as I need to create MORE cash-flowing assets. I don’t even have to really work anymore, I just enjoy it!
- I will start putting offers on real estate when I find a good deal.
Well guess what: you’ll never put any offers in. Good deals are MADE, NOT FOUND. You have to take the time to build rapport, do your due diligence, and build a five-star team to help you through the process.
- No bank will give me a loan.
That is definitely complete bullshit. If your credit is bad, ANYONE can go on Youtube and learn how to fix it within 1-2 years. Or, if you’re smart, you could partner up with a company that specializes in credit repair.
- Sellers only want cash.
Sellers don’t want CASH, they want what the cash could DO for them. They want to do something with it, and your job is to find out what they want to do with that cash.
- No one will invest with me because I’m new.
That’s definitely not true. If you solve their problem, sellers are happy to work with you, no matter your experience level.
If you want to join our next Mailbox Money Mastermind, go to CashFlowGuys.com/MMM.
Take a look at my recommended reading list at CashFlowGuys.com/Books.
If you want to get on my calendar and have a conversation with me, then head on over to CashFlowGuys.com/AskTyler.