If you don’t like to face this question or feel uncomfortable answering it then that clearly means that “you don’t know how to play the money game!”
So, in this first chapter, Team Explicit Facts will try to explain the few “Rules of money”, religiously followed by each and every Billionaire alive or dead, proved relevant for centuries. We as a team understood these golden rules very hard way, after committing each of those mistakes, ourselves.
We will try to relate all these rules with real-life examples, so as to help you understand them easily.
No matter what game we play, most eventually we attain expertise, after our 1000th game.
If you have played chess 1000 times, then in all probability you will surely beat someone, who had played chess 500 times or never played chess in his or her lifetime.
No one stops you to play chess 1000 times and master it.
So the great thing about money is, “Tricks to earn money can be learned! The tricks of this trade can be mastered!”
Many a time people fight it and they have problems with it. They say, “You know! That person became rich because of sheer luck!”
But the answer is simple NO! They learned that game.
You can also take time and efforts to learn the game!
If you hate money, then you don’t get money because money doesn’t like haters.
If you act stupid and keep saying things like, “I don’t work for money. I work for my passion or blah blah blah! Money is this, money is that…!” Well, the truth is that money doesn’t grow on trees.
Then money says, “You are right! I am not turned ON by you!”
Its as if, you decide to go on a date with a beautiful girl, but you end up telling that girl that you don’t like beautiful girls, who don’t know about philosophy. Who cares her looks, doing makeup and workout in the gymnasium.”
Well, this girl will surely shoot back, “Dude! I put makeup to remain beautiful and so that you can enjoy my company. Work out every day in the Gym to stay in best of my shape. But you know what, you are right! You are not attracted to me. You are only attracted to oldies who talk philosophical shit, like your mother!”
That girl just ends up finding the guy who says, “I like a girl that takes care of her looks and body. I like the girl who takes care of her skin. Who works out hard in the gym all days of weeks.” So, she gets attracted to a guy who shows respect, to what she has and doesn’t regret about things she doesn’t.”
Moral of the story….. In order to earn money, you need to love it in the first place.
What’s is the double’s game?
The entire game of money is about doubling your money.
What exactly we mean by doubling our money?
Lets us examine the table below:-
Let us assume that we have $ 1000 right now in our hand or bank account. Then you will have to double that amount almost “ten times” to make it to approximately million dollars (Serial No. 10). That’s it!
You are five doubles away from $ 32,000.
You are 14 doubles away from $ 16 million! It’s a double game.
So, how soon can you double your $ 1,000 to $ 2,000? In the same way, one needs to assess his or her speed to reach the dream figure of a million dollars.
In order to earn a Billion Dollars, you know the mathematics.
To calculate the time required to reach the above-mentioned dream figures depends on two factors:-
Risk Tolerance. You need to calculate the “Safe Risks” you can afford when it comes to money. Also, risk tolerance is very much related to your age. If you are 65 years old, then your risk tolerance will be lower than the person, who is 22 years old. Right?
So you have your risk tolerance depending upon your age and you need to calculate it yourself.
Time Horizon. You need to know your time horizon. Time horizon could be that…. Right now I have $ 17,000 and I want to make $ 1 million by 10 years from now. If the time limit is 10 years, then what do you have to do right now? Then you have to play your doubles game.
This is an Art which you need to learn.
Know your risk tolerance.
Know your time horizon.
Then start playing your doubles game.
We use the analogy of seduction, with ladies because, it just how it is.
But, money also loves to get seduced.
Money is attracted to its seducers.
Just like, women don’t like desperate people. Money is also never attracted to desperate people, who want it so bad so that they can show it off to everyone around.
So, you need to learn the art of seducing money. Then you will find money saying, “Oooh! I like this guy. I am turned on to you.”
It’s a seduction game.
When you start playing seduction game with money, then all of the sudden money will start pouring from all over the place to you.
Money is turned on by the people or investors, who know what exactly, they are doing with it.
When a girl goes on a date with a guy that knows what he is doing…. Then she is most likely to come back for another date….. and then there will be a hell of an experience.
So, once you learn how to seduce money, then one day you will surely be wealthy.
If a girl gets bored with you then she will leave you one day.
Same way money doesn’t like to be bored. Money needs to be moved continuously.
If your money stays stagnant in your bank account, or staying somewhere and not working, then one day that money will leave you and go to someone else, who knows what to do with that money.
So, you got to make sure that money is always moving.
Its always out there, doing something, working for you and creating more money than before.
You need to have one “Secret Account”. Always!
What is the Secret Account?
It’s a bank account that no one knows about. Your wife, husband, girlfriend, boyfriend, mom, dad, brother, sister.
No one should know about this secret bank account.
It’s a crisis account.
It could be in the form of cash. It could be somewhere sitting down that no one knows.
Now you will say that in our previous point, we mentioned about money getting bored is kept stagnant. These are two different stories.
You got to have a crisis account and that’s not your emergency account/ fund, but your crisis account.
Our Story. This secret account actually saved our business, when we were going through difficult times and our company’s bank account balance went down to $ 1,000. We had payroll, commissions, everything with just $ 1,000 in our bank account. We were about to shut down our company.
What saved us was the crisis account we had, about which no one knew at all. The money saved in the crisis account showed up. We put that money in the secret account, back in business. Business got saved. We lasted and we made it through the tough times and now we are here where we are today, just because we had a secret bank account.
So, you need to have a secret bank account.
We see so many people spending $ 2,000 on the first-class flight ticket, whereas they just need $ 400 for economy class.
Here is basic mathematics.
When you spend $ 2000 for a first-class flight ticket, whereas we get the $ 500 for economy class on the same flight, 10 times a month. So, the difference of $ 1500 per flight for 10 times, will sum up to $ 15,000 per month and $ 180,000 per year!!!!
Do you know what we can do with this difference of $ 15,000 per month or $ 180,000 per year?
We can keep additional employees.
Increase our expenses on the advertisement for our brand.
Security enhancement of our IT, both hardware and software, to save ourselves from hackers.
Whereas, once we get $ 10 million at our disposal, then that day surely we will travel on first class flight ticket.
On the brighter side, once you have $ 10 million at your disposal, then buy a private jet and stop flying on first-class flight ticket.
Do you know, what all media channels are paid to do?
They get paid, to sell crisis so that everyone gets afraid and start preparing for the “End of the World”.
For example in 2008, when the stock market crashed, the stocks went all the way down to its minimum value.
Do you have any idea, how much compounded money was lost, just because everyone thought that it was the end of the world?
People keep worrying about Nuclear War, that will surely bring an end to the world.
Now let us get to the point.
If truly a nuclear war or holocaust is going to happen, do you really think that your wealth or money will matter?
In the case of nuclear war, we all will cease to exist.
So, we all need to act as if there will be “No Nuclear War” going to take place.
But, if the panic with respect to nuclear war breaks out, then you have to learn the tricks for managing those panic moments when 90% of the world thinks that its End of the World.
During such panic times, who wins? The person who has cash.
It’s during this time you can accumulate wealth.
Therefore, it is important to have cash aside.
Here we are not referring to boredom money.
We are referring to cash set aside by you for buying stuff in dirt cheap costs, when the panic button for end of the world, is pressed in case of 90% of the population.
Every time a crisis takes place, lots of people become wealthy, because “Everything Is On Sale”!
People sell the exotic for 1/3 of the price.
They sell luxury houses for ½ the cost.
Stock prices touch its minimum value, and this happens to the best time to buy stocks.
During these tough times, everything is on sale.
Some say that the stock market will crash again in the next two to three years, which we are not sure of.
But it may crash in the next 20 years and we better be prepared for it. We must be ready for it because there will be lots of opportunities. You also got to be ready for it.
You got to know what the politicians in your local community are going to do and what their philosophies are?
Why do you need to know their mind like the back of your hand?
If their philosophy is to levy heave duty income tax on you, then you need to adjust accordingly.
If their philosophy is to cut down taxes, even then you need to adjust accordingly.
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