I want you to think about this here.

In your entire lifetime, how much money has gone through your hands?

How much?

Let me explain to you what I mean by this.

The question is this. How much is left in your wallet?

Truly.

What is in your wallet?

What do you have left?

How much savings do you have left? And if you're not too happy with this question, it's very simple.

The reason why you don't have a lot of money left is because you don't know how to play the money game.

Simple as that.

So today I'm going to cover with you rules of money. These are rules of money that I got from Patrick and I try to follow daily.

But rule 1 is the most important one.

And it's the one you have to buy into immediately.

It's very simple.

You can fight and say whatever you want to do to it. It's a rule.

And the rule is: it's a game

Money is a game

And the great thing about any game is the following thing. No matter what game you play, the most eventually get good at it. If I've never played chess, and I play you and you've played 100 times chess, you're probably going to beat me. If I have played Monopoly 1,000 times and you've played three times, I'm probably going to beat you, because it's a game.

So the great thing about the money game is, it can be learned. So many times people fight it and they have problems with it. And they say: “Well, you know, that person became rich because they're smart. This person…” No, no. They learned the game, and you can also take the time to learn the game.

Don't be a hater of money

If you hate money, you'll never get money. Because money doesn't like haters.

So if you're a hater, and you constantly say things like: “well, money doesn't grow on trees. Money is this and money is that, and rich people are this…“ you're right.

Money says, "you're right!" I'm not turned on by you.

It's almost as if going on a date with an attractive girl and telling the girl that you don't like attractive girls who don't know a lot about philosophy and all they care about is their looks and doing makeup and doing this and working out and going to the gym. And this girl's like, dude, I put makeup on, I work out every day to stay in shape. But I also like other things in my life. But you know what? You're right. You're not attracted to me; I don't like you. She goes and finds another guy that says, "I like a girl that takes care of her body. I like a girl that takes care of her skin. I like a girl that does makeup. I like a girl that works out five days a week." She's attracted to that guy. Keep that part in mind. Don't be a hater with money.

It's a doubles game

Listen.

It's a double game.

What is a double game?

The entire game of money is about doubling your money.

So what do you mean, double your money?

Let me explain it to you this way.

If you right now have $1,000 in your bank account, you are 10 doubles away from a million dollars.

That's it.

You're five doubles away from having $32,000.

You're 13 doubles away from having $8.192 million.

You're 14 doubles away from $16 million.

It's a doubles game.

So how soon can you double your money?

That's truly the game.

Can you take that $1,000 and double it to $2,000 in the next year, so the next thing is, now it's $2,000 you have in your account, now you nine steps away from a million dollars. You may say, "I already have $100,000 in my account."

Well guess what?

You're 4 doubles, three doubles away from a million dollars.

It's a doubles game.

This is a piece of cake, when you learn it's a doubles game.

So it becomes two different things. Risk tolerance, because you've got to know yourself when it comes to money. Then the other part is time horizon. What is your time horizon? So the time horizon could be, I want to have a million dollars by 10 years from now. Great. If it's 10 years, what do you have right now? Then you have to play your doubles game. How many doubles do I have with this $17,000 to get to a million bucks?

It's a simple game!

Seduction

Let me explain to you about seduction. I use the analogy with ladies because it's just how it is. Okay? Money likes to be seduced. Money's attracted to seducers. Just like a woman doesn't like a desperate man, money doesn't like desperate people.

Money's not attracted to desperate people who want it so bad because they want to make this money and show it off to everybody. No, no. You need to seduce money. Seduce money.

And all of a sudden money says: “Ooh, I like this guy. I like this girl. Oh my gosh! I'm turned on to you.”

Don't let money seduce you.

You seduce money.

It's a seduction game.

So whoever learns the seduction game with money, all of a sudden money starts coming from all over the place to you, because money is turned on by people that know exactly what they're doing. Money likes investors who know what they're doing. Okay? A girl goes on a date with a guy that knows what he's doing, she's most likely to come back and then there's experience. So learn how to seduce money, once you learn this whole thing you'll get better at this game as well.

Timing

I'm not talking about timing like this is the best time to invest into Snapchat or this is the best time to buy the IPO of Facebook and etc. I'm not talking that timing. Although that's a whole different conversation with timing.

The timing I'm talking about, is running a business. Timing with when you buy. Timing on when you invest. Timing on when you stay light. Timing on when you stay liquid. Timing on when you go… there's a timing aspect to all those decisions you'll make.

Boredom

Money needs to be moved.

Again, if a girl is bored with you, she leaves you, because you're too boring. Same with men. If a man is bored with a girl, they're going to leave. Because it's boring. Money doesn't like to be bored. What do I mean? If money stays in a checking account, money's going to somebody else who knows how to use that money. If money is just staying somewhere, and it's not working, it's too boring, it goes to somebody else that knows what to do with money.

So you've got to make sure money's always moving. Money's always moving for you. Always out there doing something to create more money for you.

Insulation

You got to insulate yourself, your company, your investments, your money, your family. What do I mean by insulation? I'll give you an idea. Today if you go out there, if you are insuring your car, you're also insuring your business, your insurance, your jewelry, you're insuring certain things that you're buying, it's insulation. To protect yourself, in case something happens. This could be a legal thing. This could be lawsuits. This could be investments going bad. This could be - there's a lot of different things that could happen. But you got to make sure your investments, your money, your income, your future, your savings, your whatever it is, it's insulated. You're protecting yourself. Because life will happen.

Taxes

You know how you hear about these guys getting so creative with taxes. And some people say, these big corporations are not paying their fair share of taxes. And a lot of people say, I get so upset when I see these guys not paying taxes, and all this other stuff.

You always got to know the taxes, because you got to know how to play the tax game. Now, if you're a big corporation, you better hire a couple of these good tax guys that know how to play this game, and you got to sit with them, on how you got to play the game with taxes.

Invest in YOU

You are the engine!

You're going to take the company somewhere, you're going to take the family somewhere, you're going to take the brand somewhere, you got to make sure this engine is performing at the highest level.

Meaning, you got to invest in YOU.

To improve you.

To get better.

To get healthier.

To get stronger.

To last longer.

To go longer.

To improve you.

To improve your game.

To improve your strategies.

To improve everything you're doing.

Because you are the engine. You got to make sure this engine's got a lot of horsepower and it lasts for a long time. And you don't run out of gas. You're constantly making sure you're improving yourself.

That could be books, that could be mentoring, that could be a trainer, that could be working out, that could be taking care of your health, that could be investing into your business, investing into your game. That could be going to a course, going to a seminar. That could be finding a way to improve your communication skills, to improve your writing skills. To improve your reading skills, to improve your analytical skills, to improve your selling skills, your marketing skills.

Whatever it is, you got to invest in you. Because this engine, if this engine is running properly and it's improving, it's becoming more and more and more and more and more efficient. The better you perform, the better you can handle more.

So if you want to make sure your money improves, invest in you.

A plan for your money

Very basic.

Just like you have a business plan. Just like you're sitting there saying, here's what we're going to do. Here's how many employees we're going to hire. Here's the territory we're going to go. Here's what we need. Here's what the numbers we're going to hit. Here's the project we're going to hit. Here are the numbers we're going to hit. We have a plan. We're going to open up another office here, here, here.

What is your plan for money?

What is your financial plan?

What is your plan for savings?

What is your plan for investments?

What is your plan to help out and donate and give money to charity?

What's your plan?

What do you want to do?

If you don't have a plan, then what do you really want to do? And by the way, if you don't have a plan, there's a lot of people who would love to give you their plan. Because they have a plan. And if they don't have a plan, their plan is for you to give them their money. And then their money's going to go to them. And if you don't have

Relationships

There's two different types of relationships to have. One is relationships that you buy. Meaning, you pay people that help you with money. For instance, a good CPA, a good attorney, a good investment person. These are people that you hire, but you also have to have solid relationships with them. So they know who you are. They know your game plan. They know your risk tolerance. They know your goals, your dreams, your vision, your target. They know where you want to go.

But then there's also a network of people that you need to have, who have a similar mindset, of what they want to do with money. That are growing. That are developing. That are working. Because a lot of times you get a lot of great ideas on what to do with your money from those people.

It's not all about buying.

It's also about building your network, of other people who have goals, similar mindset. You can have conversations about your ideas, concepts, what to do with it. Because it's an open conversation with people that are also making money. It's about relationships.

Velocity

Money loves speed. What do I mean by money loves speed? The sooner you realize money loves speed, the more money you're going to have.

So, think about it this way. If you see an opportunity, and you've done your due diligence, you've got to move fast. If you know it's the right investment and you can do it, you've got to move fast. The people that know how to play the game of money, move very quickly with it. Because they have a plan. They have experience. They have a system. They have a game plan. They have a counsel. They have people they talk to. And they know how to move with it.

Teach money

So, think about the legacy. I think there's a stat out there that says 90% of money that's made, when it's given to the next generation, they lose it within six months or a year, or something like that. The number is ridiculous.

So imagine you're working your tail off to make all this money, and you're leaving all this money to your kids, and they lose it in a year. They lose it in two years. They lose it in six months.

That makes no sense.

So teaching it is not just about giving it. Teaching it is about letting the next generation learn how you made money. How you were able to handle it. How you did your investments. How you handled challenges. How you handled setbacks. How you handled wins, losses. How you handled money. Teaching it to the next generation, is also as important, as making it yourself. So they know how to handle it themselves.

Play defense

I'll wrap up with this. It's very simple. Most people have a tendency of just thinking about offense, offense, offense, offense. We're going to go sell, we're going to go make money.

But they don't know how to play defense. They have no idea what it means to play defense.

Defense means preparing yourself for a crisis. Preparing yourself for something happening that you have no clue about.

Preparing yourself for a war.

Preparing yourself for a government shutdown.

Preparing yourself for the government going out there and all of a sudden putting in restrictions on what to do with your money.

You need to prepare yourself and know that playing defense with your money is just as important as playing offense. Offense means, yes, go make the money, but how are you defending your money?

How are you protecting your money?

I could go much deeper into this topic and list some more lessons. But I think that’s enough for the beginning.

Cheers,

Jonas