How to Be Like the 1% - The Most Powerful Principle of Wealth Building! | VALUE WEALTH! - 057

But please, please, please, I want to share with you guys and I'm going to repeat this. I want to share with you guys the most powerful, the most powerful principle of wealth building that I have ever learned. I've built many startups, most of them are failed. So Bitcoin is exactly the place that I like to be. We're going to end it right there. So I've been doing some thinking in my garage here. As you guys always know, I do a lot of thinking right over there on my custom bench seat. And I've been thinking about values. I've been thinking about values and I was done podcasts on values before. And so certainly you can look back at those and see what I've talked about in regards to finding your highest value. But one of the things that I thought about tonight and I had to

write down is one of the most powerful principles, one of the most powerful principles to wealth building that I learned in economics, 101, up in university, up north my first year. Absolutely. It's one of those things where I was I was sitting down, I was thinking about values. And I was thinking about how I can make sure that I'm always aligned to my highest values, my highest priorities, making sure that I'm not operating from lower values or doing things that are destructive in my life. And it's just like, sometimes I don't know about you guys, but I obviously have a desire to think deeply about things in my own life. And luckily I'm able to communicate effectively enough what those rumblings are in the back of my mind and in the depths of my soul. And I was thinking about this and I cannot believe

I haven't actually talked about this ever before. So I'm hoping that you guys are sitting back, you're in a good place and you're ready to hear something that I think is just, I seriously cannot believe that I haven't talked about this before. It's so powerful. And my mind went all the way back to my first year in economics class, which by the way was ridiculously easy. I mean, for me, I remember, if I can take a segue here, I remember in this economics class just being bored to tears. Absolutely bored to tears because it was just, economics made so much sense to me. And it's because of the way that I was raised with a poor, I just put it that way. Ain't nobody driving lambo here. Ain't nobody driving. I mean, my dad drove a Buick station wagon. We used to call it the

Shogun Vagan. My brother and I used to sit in the back seat. And if you know anything about these old Buick road master Shogun Vagans, the back seat would look outwards towards the back. And you could flip it down and you could flip it up. And the whole thing was leather guys, holy crap. The thing was leather or maybe it was leather. I don't fake, I don't know. All I know is that when we took rides, and my brother and I had to sit in the back of the Shogun Vagan, this Buick road master, it was so bloody, stinking hot guys. It was miserable. It was miserable. I remember going back to, we used to live up in Jersey and we used to do summer vacations over at LBI, Long Beach Island. So some of you guys up north, you guys know what I'm talking

know. All I know is that when we took rides, and my brother and I had to sit in the back of the Shogun Vagan, this Buick road master, it was so bloody, stinking hot guys. It was miserable. It was miserable. I remember going back to, we used to live up in Jersey and we used to do summer vacations over at LBI, Long Beach Island. So some of you guys up north, you guys know what I'm talking about. It's gotten a little bit more trashy than it was back in the day. But no judgment here because I haven't been there in a while. So what do I know? But we used to take these long trips up to Long Beach Island guys. And holy cow, I remember just sitting there, just oozing sweat out of every single pore, humanly possible. And it's one of those things

where you're like, when you put your hand down on, you know, you're just resting your arm for just a second, just a second, you're resting your arm. And you're like, well, it was two seconds ago, right? And you lift up your arm and the whole seat just doused in your sweat. And the sweat's running down your back. It's going, you can feel it going down your back through your bansips, through your underwear, and you can feel it just slowly rolling down your ass crack. Like guys, I'm sorry. I don't know if you guys have ever sweated that much, but I do. I do. I sweat every almost shit, almost every day that much. And so I don't know why I'm saying that and why I'm sharing it. But guys, that's my heart and that's the truth. And I'll tell you guys some of the greatest

memories. And I got some, a lot of memories, not all of them good. But I got a lot of memories from that station wagon, that Buick Roadmaster, or the Shoggin Vagan sitting in the back seat with the leather, with the leather. But I'll tell you, the whole point of this is that didn't come from a whole lot. And so we had a value, we had, there was an interesting thing that was imbued in me. And the value was an interesting value of wealth building. And I want to share that with you guys. I know it took me five minutes to get into this. But please, please, please, I want to share with you guys, and I'm going to repeat this. I want to share with you guys the most powerful, the most powerful principle of wealth building that I have ever learned. And it was

codified in my brain. It was codified in my brain in my first year, freshman year in university, up at RIT, Rochester Institute of Technology. My first year up there in economics 101 class, and man that class is born. So here it is. Here's the principle. I remember the professor telling me, and telling the class, he said, economics isn't that complex. There are obviously nuances and aesthetics to understanding how money flows, and money works. But he said the essential principle, the essential principle, is that money in the economy. Cycles from those who value it the least to those who value it the most. Let me repeat that. Money in the economy cycles from those who value it least to those who value it the most. You see, I didn't grow up with a lot. But the principles that my parents instilled in me when it came

understanding how money flows, and money works. But he said the essential principle, the essential principle, is that money in the economy. Cycles from those who value it the least to those who value it the most. Let me repeat that. Money in the economy cycles from those who value it least to those who value it the most. You see, I didn't grow up with a lot. But the principles that my parents instilled in me when it came to money is that we needed to value money. We had to value money. I was one of four other kids, one of five other kids. I don't even know how that works. I have four brothers and sisters, let's put it that way. So there's five of us. So seven in the household, guys. Seven two parents, man, I'm losing my marbles here today, guys. Two parents, five kids.

Okay? Five kids. And we were all growing up in the 70s and 80s and I was, yeah, 70s and 80s. 70s and 80s. I don't think my youngest might have been born in the early 90s. But we had to value. We had to value money. We had to value it because there wasn't a whole lot to go around. There wasn't a whole, you know, we weren't getting all the, the, oh, I've got to tell you guys. I could tell you stories because, you know, I know what private school looks like. My kids go to private school now. Okay? Talking about Range Rovers, BMWs, Benzes and all sorts of stuff. I mean, like, trust me, that's not how I grew up. I didn't grow up around any of that. And so money in the economy, money in the economy, cycles from those who value it least.

And there's a lot that we can dig in here. Those who value money the least, those who spend money, obviously, those who don't have control over their spending, control over their emotions, control over their appetites. Right? These are all people, are characteristics of people who don't value money. They value it the least because they allow their appetites to get away. They're not disciplined mentally, right? And so money bleeds from them to those who value it the most. Now, why does this make me want to tell you guys about the most, this powerful principle, so powerful? And to me, how I translated it, and don't miss this guy, this is so crucial here, how I translated this very clinical, but very smooth statement, right? Money in the economy cycles from those who value it the least, to those who value it the most. It's very clinical,

but it's a smooth sounding sentence. It makes a lot of sense. It cycles from those who spend it, to those who don't spend it, hold it, invest it these types of things. But how I translated it, and this was so crucial, it was so crucial into my earlier, earlier formula of years that I was able to take my professor, I wish I fucking remembered his name. But to remember what he said, and to take that, and to translate it into a value, a value of wealth building, by understanding how money cycles through the economy, I established an internal value, or at least I was able to codify the values I already had, given to me by my family. I was able to codify and say, yes, the value of wealth building is to not be part of those who cycle it constantly, constantly. You see,

to remember what he said, and to take that, and to translate it into a value, a value of wealth building, by understanding how money cycles through the economy, I established an internal value, or at least I was able to codify the values I already had, given to me by my family. I was able to codify and say, yes, the value of wealth building is to not be part of those who cycle it constantly, constantly. You see, I remember, and I don't want to get political here, but I remember the 1% issues, and I'm sure that will come up until the day that you and I die, that there will be the blame, the 1%, blame the rich. This is ludicrous, my professor, through my first semester, in freshman year in economics 101, completely debunked, debunked this whole blame game nonsense, of blaming the 1%, you

cannot blame the 1% of the rich out there, who own 99% of everything, right? They, guys, I am sure, so let me, let me, let me, let me broaden the spectrum here, let me broaden the opportunity here. Sure, sure, sure. The one top 1% of the world who have all the money. Sure, there, some of them can come from being an erus, or being a prince, or being a princess, or being a king, or coming from ludicrous amounts of money. Yes, those people exist. Yes, those people exist. But listen, they're not becoming bigger cyclers of money in the economy frivolously. They're not wasting their inheritance. They're not wasting their trust fund. So give them at least a little bit of credit is what I would simply ask. And yes, sure, there's some that are in the 1% top-up, upper echelons of making money that have

made it illegitimately. First, sure, 100%. But if you look at what the 1% really is, at a global scale, you and I, if you're listening to this, and you're in a nice little home, and you got a car paid off, and you're with 1% brother, you're the 1% sister. And so we, and I say we, including me, have no opportunity. We have no cause to ever blame the 1%. We cannot. We can not. You know why? Because we just have to realize that those with all the money, they operate from a higher principle, a higher value of money than the 99% in the world. Yes, there are statistical anomalies. I just covered them. The illegitimate and the trust fund babies. So take those out. If the rest of us guys zero excuse. Here is the value. Please let this sink in. The value is that

people who are successful, people who have money, they value wealth building more than spending. That's it. That's how I translated. That's how I translated. And this is just, I think it's so cool that my particular brain enjoys recontextualizing clinical ideas and making them into principles that I could hold. I'm so thankful that this is just how my brain works. And yes, I'm in my head a lot. And some people would wish that I wasn't in my fucking head all the time. But I'm a thinker. And I'm a communicator. That's what I value. So the value is people who are successful, people who have money, the 1% what do they do? They value wealth building more than spending. They value wealth building more than spending. Because money in the economy cycles from those who value money the least to those who value it the most. So

And some people would wish that I wasn't in my fucking head all the time. But I'm a thinker. And I'm a communicator. That's what I value. So the value is people who are successful, people who have money, the 1% what do they do? They value wealth building more than spending. They value wealth building more than spending. Because money in the economy cycles from those who value money the least to those who value it the most. So what else does the 1% do differently? What do they do differently than now? I wrote down a couple things. So I hope you're ready. You know what the 1% has? The rich have, they have wealth building strategies in place. They have fantastic wealth building strategies in place. This is so important. They let's go through them. They have auto-saving. Auto-saving. If you're not auto, and I'm going to

sound judgmental here. Please, you know it comes with what love. Because I love communicating my heart. If you don't have auto-saving, you're doing life wrong. Okay? You're doing life wrong. Even at the meager, at the meager, I was there too once. I was there too once, guys. My first job, I worked at Publix as a bag boy. $5.25, the $25 sense sucka. $5.25 an hour. 15 years old. That's where I started. Started at the bottom now. We're here, guys. Even then, at $5.25, I had a savings plan. You better believe it. I saved like 20 bucks a month. And for a 15 year old, that was damn awesome. Because I knew that every two months, I could get a new video game from the computer store. CompUSA, which is no longer around, because they went under. Do you guys remember CompUSA? That's where I used

to go. I used to spend every month, every couple of months, I would make just enough money. I would make just enough money and save Peter. Wait, you only saved 20 bucks a month. Where was the rest of that money going? Guys, I was 15 years old. Okay? It's going to really stupid things. Okay? Really stupid things. But every month, I could make enough money where I could save up for a super video game that I really wanted. Because my parents always put me out, put us on lock. They wouldn't let us spend all our money, you know, frivolously on video games, because I'll tell you, there was a shit ton of them out then. And they're even more now, obviously. But we were constrained. We were constrained. So as I burned my money on frivolously things, I interestingly enough had a savings plan, even

at a $5.25 an hour salary, not even a salary wage. Right? Auto-saving. Get on it. Auto-investing. If you have an opportunity to auto-invest, do it. It's free money. These people argue, nothing's free. Understand my point. If their company's matching, or they have opportunities, if they're just matching just a little bit, it's more than what you earn. It's, you take it. Take the money. You don't need it anyway. So auto-saving. Auto-investing. Buying and cash. I'm going to say something strong here, guys. But this is just because, and I'm saying this, honestly, it's just because I earn the right to be able to say this. I never buy anything on credit. I buy everything in cash. If I, now this is just me, and remember, you don't have to listen to me, and you don't have to judge your life by me, because I'm not a fair,

anyway. So auto-saving. Auto-investing. Buying and cash. I'm going to say something strong here, guys. But this is just because, and I'm saying this, honestly, it's just because I earn the right to be able to say this. I never buy anything on credit. I buy everything in cash. If I, now this is just me, and remember, you don't have to listen to me, and you don't have to judge your life by me, because I'm not a fair, fair, um, ruler or measuring stick by any means. But the way that I have trained myself, the way that I have, have, have discipline in this family, is that we don't buy anything if we can't buy it in cash. It has to be that way. And I'll tell you, actually, I probably, probably one of the biggest reasons why this is so important to me, that we buy

everything in cash, is because I have, I have neurosis. I have, I have psychological disorders. I fucking hate debt. I hate it with a passion. And you want to know why? Because debt is slavery. You owe somebody. They own you. They could take you to court. They could put you in jail, depending on the type of debt, right? I want to be unfettered in life. I, I spent so much of my mental life in the early years of getting out of college debt. Oh, my lord, Jesus. If I could do it over again, guys, maybe that should be another podcast. But if I could do it over, guys, I would not be, holy shit. A million dollars worth of debt, guys. A million. We're talking about bachelors. We're talking about masters degree one. Masters degree two. Masters degree three. Plus, all the other loans for

for books, and food, and living, and and having to take on so much debt that you get secondary lines and secondary loans at like a 17%. Guys, that was me. That was me. Okay. And maybe it's because I valued education more than the debt, this is obviously true because I hadn't finishing them. But I tell you, there was, there were better ways of doing it and I know now, there are better ways in doing it. So don't listen to me, but don't tell you, if you can get to a point in your life when you go buy with cash only, like no credit card debt. Yeah, or I mean, what I mean, no uncontrolled credit card debt. We use credit cards, but we make sure it's paid off and cash every month, every bill cycle, guys. But I've earned the right, and I said that

before, I want to be abundantly clear. I earned the right in my life through my disciplines to be able to do that. And not everyone is there yet, but auto saving, auto investing, buying in cash, what a liberating freedom. And I'll leave you guys with this on this idea. The day that you wake up and you have zero debt and you don't owe nobody nothing, your life is trust me. I remember that day, your life has changed. There is no weight on your chest. There is no weight on your shoulders. There is no rumbling in your stomach. You owe nobody nothing. And when you do an accounting of your finances, you say, ooh, I got a cell phone bill. I got internet bill. I got water utilities. Food. Oh, I got, you know, I got to pay to pay to pay to pay to pay

is trust me. I remember that day, your life has changed. There is no weight on your chest. There is no weight on your shoulders. There is no rumbling in your stomach. You owe nobody nothing. And when you do an accounting of your finances, you say, ooh, I got a cell phone bill. I got internet bill. I got water utilities. Food. Oh, I got, you know, I got to pay to pay to pay to pay to pay to the fees at the end of the year for the house and all that stuff. Tatlantax isn't on that shite, but I'm telling you, what a free life to live. How about this? What else does the 1% do differently? They don't live outside their means. They don't live outside their means. They have a, they have a, I don't need it attitude. And that's an attitude that I

have too. I don't need anything. Let's be intellectually honest. Are you watching me? Do you see me? Have you seen me? I don't need anything. I love life. I love giving. I love being able to talk to you guys and be able to say these things because it's, it comes from the inside. It comes from the heart. And I have earned the right to be able to sit here in my garage and say, I hope encouraging wonderful things in your ears. Don't live outside your means. You can, you can buy stuff later. Ain't nobody care. What else does the 1% do? They have no peer pressure. They're not faking the funk. They don't give in to peer pressure when it comes to financial nonsense. And they don't give a fuck about what other people say or think about them. They go back to my podcast.

Why not giving a fuck is the best way to live. Go back to that podcast. Re-listen to that please. If you want to be reminded as to why not giving a fuck is the best way to live. And these people, the 1% they don't care. They're debt free. They're unshackled. They're unfettered. They're unfound-chained. They can do whatever they want. They can be whoever they want. They can take opportunities when they want to take them. They can go when they want to go. They can go wherever they want to go. They can, they can, they can do. They can create. I mean, I find it, I find it a wonder, that people wonder about how why successful entrepreneurs, why they continue to be successful over and over and over and over and over again. There's lots of reasons. There's lots of reasons why successful entrepreneurs can

continue to role and re-roll a new success, after new success, after new success. I get it. On 100%, get it. Number one, they learn a lot. I'm breaking this down into really small parts here, guys. Number one, they're obviously learning a ton. But number two, they're learning out of deal with their finances better. And three, I bet they have no debt. Or at least if they're depending on how they make their money, they might be leveraging debt in one of the most real estate guys for everyone out there in real estate. I salute you. I don't do real estate. You know why? Because I hate debt. So even though I know how to, from an economic standpoint, I know how to move money. And I know how to leverage debt. I'm buying a 12-unit condo and then, you know, fixing it up and running it

on how they make their money, they might be leveraging debt in one of the most real estate guys for everyone out there in real estate. I salute you. I don't do real estate. You know why? Because I hate debt. So even though I know how to, from an economic standpoint, I know how to move money. And I know how to leverage debt. I'm buying a 12-unit condo and then, you know, fixing it up and running it out and shaving costs here and there and getting low bank $1.5 million in bank loan at 3%, 4% because it's really low. I mean, I know all this. I know all this, but I hate debt. So you won't see me in the real estate game, right? But people don't give, well, 1% don't give into peer pressure. They don't give a fuck about what other people say. They

do what they want to do because they value wealth and building more than spending. What else do the 1% do differently? They are goal-setters and they achieve their goals. They have a discipline to executing and experimentation and a never-give-up attitude. Obviously, not every one of them has that. But this can be easily assumed. If you're in the 1% and you're doing fine and you have control of your life, you're disciplined, you will be wealthy. You will be successful. I promise you. It's the discipline. It's the daily disciplines, the investments. So how do these people make their money? If they're not trust-fund babies or they don't make their money illegitimately, how do they make their money? You won't know a secret. I'll give you the secret. I'm going to give all the secrets today, guys. The secret is, these 1%, you know what they do? They

value wealth building, overspending. Number two, here's the kicker, guys. Number two, they value serving people overtaking. The 1% value serving people more than taking from people. Yeah, yeah. Think about it. Think about the most wealthy 1%ers in the world. What are their own hotels? Large manufacturing plants. Large companies that serve millions, billions of people around the world. I mean, you make the most money. Please don't miss this, guys. You make the most money in serving the most people you can. Okay? My first inclination when I wrote this down, the first thing that I thought about when I wrote this down is I thought of Jeff Bezos. I thought of Jeff Bezos. I was like, this guy. This guy, he was dry. I remember like when I believe, and I might be getting this wrong, guys, but it doesn't matter. You understand my point. I believe

that, you know, at that point, I believe he still was driving like a Honda Accord or Honda Civic when he made his first billions. Right? And what is he doing? Jeff Bezos in Amazon, they are serving the world. Alibaba, okay? Okay? Jack Ma, they are serving the world, the consumerist world. So how do you make money? How does the 1% make money? How does the 1% keep their money? Two values, please, I'm gonna close this out. I'm gonna close this out right here. How does the 1% survive? How do they stay on top? Two very powerful principles. Number one, the 1% values wealth building over spending. Wealth building over spending. How do they make their money and make even more money? As the 1%, they value serving people, overtaking. They value serving people, overtaking, and they build businesses that can help and allow them to

their money? Two values, please, I'm gonna close this out. I'm gonna close this out right here. How does the 1% survive? How do they stay on top? Two very powerful principles. Number one, the 1% values wealth building over spending. Wealth building over spending. How do they make their money and make even more money? As the 1%, they value serving people, overtaking. They value serving people, overtaking, and they build businesses that can help and allow them to serve as many people as they possibly can. That's what they do. And if I'll go and dig into my own ego a little bit here, that's what I'm trying to do. I wanna serve as many people as I possibly can. Now I don't have a powerful voice. I don't have a voice that really matters in the whole world. And that's okay, but I would love to touch

more people. I would love that not everyone will resonate with me. But that's part of the goal of this podcast, and not quitting on it, and continuing to grind, and continuing to iterate, and continuing to try different things. I'm going to be trying new things with this podcast soon. But I value serving more than taking. And I certainly value. I certainly value wealth building over spending. So for today guys, consider this. Money in the economy cycles from those who value it the least, to those who value it the most. The value of wealth building over spending, and the value of serving people over taking is how you go into the 1% and you stay in the 1%. So the question for you today is, what's your values on wealth building? This is Peter. A bit more. If you appreciated this episode, please share it with

someone who's into wealth building. I need to hear this to get into wealth building. I hope it was something. And share, subscribe. Peace out guys.