Why You're BROKE & How To Fix It | How To Be Rich and Successful In Life #Best Education Page #Online Earning

Forget your education skills or connections when it comes to making

money the most powerful tool you can harness is your mind and unfortunately

many people's mindsets are holding them back from realizing their full financial

potential in fact there is a clear divide in mindsets between the rich and

the poor and until you adopt the right mindset you will be poor forever

therefore in this video I will reveal the real reason you will never be rich

and if you're new to the channel then hit the subscribe button below for more

life-changing content if you look around you you will begin to notice that the

majority of people follow these same paths in life in the Western culture the

typical life path includes going to school getting married and starting a

family followed by working a job for 30 years or more and then retiring well so

many people prescribe to this way of life does anyone ever stop to think that

maybe this isn't the optimal life path from a financial and life satisfaction

perspective signing up to work a job for multiple decades and counting down the

days until retirement is reflective of the mindset that is keeping so many

people broke this path in life is indicative of the mindset that 99% of

poor people have and when I say poor what I really mean is those who are

living below their financial potential from a solely statistical perspective we

already know that 78% of Americans are living paycheck to paycheck so this

group of people are definitely living in a suboptimal financial State in fact

most people in the middle class also face many trade-offs in their day to day

lives that could be avoided if they were to adopt the right mindset the reality

is that very few people possess the mindset that will make them rich but

let's first go over the mindset that one possessed will ensure you stay broke

forever in life there are two mindsets you can hold an offensive mindset and a

defensive mindset and if you hold the lighter than chances are you will never

lead a life of financial abundance you see the defensive mindset manifests

itself in many forms and can show up in all aspects of our lives for instance if

you're in college then there are two mindsets you could hold an offensive

mindset and a defensive mindset one will hold you back and the other is bound to

make you a top performer in the academic context having a defensive mind

that looks like this you work two weeks out from writing a final exam and you

know that you need a 65% on the test of poss with a 50 in the class you plan out

your study sessions to minimize how much material you'll have to learn to get the

65% you need so that you can get your credit and move on to the next class

the offensive-minded student thinks differently however for them they

disregard what mark they need to pass the class because they want to excel and

score perfectly on the final exam so the student studies non-stop for the

next two weeks leading up to the test and as planned is able to get a hundred

percent on the test for their hard work they receive an increase in their

scholarship for the following year and learn that putting in maximal effort

does pay off in life this same divide takes place in the

working world when you leave college there is typically two paths you will

choose to go work for the government or in private industry government jobs are

generally synonymous with job security reasonable pay but low growth potential

the private industry on the other hand is more competitive resulting in much

less job security however salaries and growth can be significantly higher let's

use the example of our friends Tom and Jeff to see how their lives would be

different depending on how they approach this major life decision after

graduating college Thomas talking to his parents and like

most parents they want Tom to work at a steady job and have a reliable paycheck

coming in every two weeks they themselves both worked in the government

for their whole careers and knew that if Tom were to take a job there he would

never have to deal with the stress of losing his job convinced by his parents

Tom decides to take a government job Jeff is also being suggested by his

parents to get a government job and while the modest salary and pension are

tempting Jeff feels like he is up for the challenge of working in private

industry during the first few years tom is liking his government job the

day-to-day work is palpable but the pay is good and he always gets to leave at 4

p.m. meaning that he has a perfect work-life balance Jeff on the other hand

is making much less than as government working peers while also putting in

50-hour weeks but the vast amount of learning he is doing on the job and the

exciting projects he gets to be a part of are keeping them interested in the

role fast-forward five years and both men are in quite different circumstances

than when we first met them tom is still working in the government

and now has a family what was happy that his job allows him to spend a lot of

time at home with his newborn he figured he'd be making more at this point in his

career and while his paycheck was enough when he was single he begins to face

financial challenges as his expenses increase sure he could move into private

sector and hope to make more money but giving up this secure job in pensions

seemed like too much of a risk especially now that he has a child Jeff

is still working in private industry and is now a manager at a reputable firm he

too has started a family and while he does still work more hours than the

average person he still finds time to be the great dad that he always wanted to

be Jeff often looks back on his earlier work days and his glad that he put in

the time that he did as he now is making more than enough money to cover his

living expenses so for him and his family money is an important of stress

if you extend the story's timeline not much changes Tom will continue to live a

financially mediocre lifestyle well Jeff will continue to grow in his career and

as such his income will grow over time the difference between these two

situations comes down to each man's mindset Tom wanted these safe route and

his defensive mindset led him to making the most conservative decision possible

Jeff on the other hand knew that working in private industry had its risks but by

harnessing an offensive mindset was able to reap much greater rewards in his

career now let's introduce a third character named Steve after college

Steve rejected the typical nine-to-five path and instead started his own

business six months into his entrepreneurial venture Steve wasn't

making much progress and was starting to wonder if he had made the right decision

you see all of Steve's friends decided to go to college and most were very

judgmental of his decision to pass on school about a year into his journey

Steve was still not where he wanted to be financially and one day his friend

called him and advised him to sign up for college in the upcoming year his

friends saw that Steve was suffering and knew that Steve was always an excellent

student and that going to college and getting a job would be easy for a smart

guy like Steve however Steve told his friend that he

knew he could go to college and get a decent job after graduation but that

didn't appeal to him even if it would offer a reliable income

his friend asked him why he was willing to suffer in poverty when he knew he had

other options Steve explained that sure getting a job

in receiving paychecks every month would make his life a lot easier and would

protect him against poverty but his goal wasn't to be protected against poverty

his goal was to become rich and no job was ever going to allow him to achieve

this goal in due time Steve was able to figure out

his way in business build a profitable company and reach all his financial

goals however it all started with having the right mindset or more specifically

an offensive mindset like I said earlier this defensive mindset manifests itself

in many forms and another instance where it is prevalent is in investing like it

or not investing does involve some sort of risk well the market has on average

provided a 7 percent return over the course of its history there is no

doubting the fact that certain years are better than others and that the risk to

lose money exists for those playing the money game in defensive mode the risks

involved with investing are often too much to bear however not investing can

often be just as detrimental to your finances as if you were to invest you

see most people who hold a defensive mindset want to reduce a financial risk

as much as possible because their life consists of making just enough money to

live and the thought of losing any that little nest egg they've been able to

save up is unfathomable so they stick their money in a savings account

thinking that this is the best way to shelter their money however with the

average savings account providing a return of just 0.09 percent annually

when edit against inflation these people are actually losing money but wait

wasn't investing going to lose the money and saving it would keep it safe if that

same amount of money was invested in the market and received a conservative 5%

return even after inflation is considered those who invested would be

ahead sadly we'll to statistics support the benefits of investing the reality is

that still most Americans fail to leverage this financial tool in fact the

numbers show that it's those with offensive mindsets that are reaping all

the benefits of investing recent figures show that 84% of all US stocks are owned

by the wealthiest 10% of Americans therefore going on the offensive and

letting your money work for you definitely appear

to be a main contributor in the achievement of financial success but

beyond your career or your investing strategy the mindset you hold whether it

be a defensive or offensive one will permeate all aspects of your life you

see from a broader perspective there are two kinds of people in our world people

will focus on what they don't have the power to change and people who focus on

what they can change most people I know and meet usually focus on what they

can't change they focus their attention on how they were raised who their bosses

or what government is in power this is a sign of defensiveness because you

attribute your lack of success to external factors however the offensively

minded person assesses the situation they are in and finds ways to make it

work for them for instance if you have a bad boss why not look for a new job not

getting paid enough instead of complaining like a defensive minded

person would why not take classes at night to increase your skills and get a

higher paying job the reality is that obstacles exist in the lives of every

single person those with defensive mindsets see the obstacle and accept

that it will always impede their path to success however those with an offensive

mindset see through the obstacles and as a result find ways to get to the other

side so now that you know the two types of mindsets which will you choose thanks

for watching if you want to go from the life you have to the life you deserve

then hit the subscribe button now

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