The concept of going to school, securing a job, working diligently, saving money, eliminating debt, and investing in the stock market for the long haul is considered outdated. Why save money when trillions of dollars are being printed? The disparity between the top 1% and the remaining 99% is substantial. It’s not just about money; one must step back and consider the broader perspective.
So, what is the alternative? Within each of us, there exists a poor individual, a middle-class individual seeking security through a stable income, and a wealthy individual. However, this crucial knowledge is not imparted.
We are taught to pursue education, employment, and a regular paycheck, but not how to attain wealth. In “Rich Dad, Poor Dad,” my affluent father figure refused to provide me with a paycheck, deeming it detrimental. According to him, accepting a paycheck transforms one into an employee, shaping their mindset accordingly.
Consequently, my affluent father never compensated me, much to the dismay of my government-employed father. While the latter insisted on the importance of paying individuals, the former emphasized the avoidance of financial enslavement. As an entrepreneur, if one venture fails, I simply move on to another without relying on a paycheck or external support.
Independence is key, and as an entrepreneur, I am not tied down by financial obligations. If my current environment proves unsupportive, I am prepared to relocate to a more entrepreneur-friendly nation. Ultimately, entrepreneurship is not solely about establishing businesses; it encompasses a distinct mindset, skill set, and adherence to a different set of principles.
Starting a small business is a whole different ball game compared to running a large corporation. Being an entrepreneur is all about mindset, skill set, and following a different set of rules. Whether you’re an employee or a small business owner, the rules, mindsets, and skill sets are all unique. If you were to give advice to someone who has never ventured into entrepreneurship but is considering taking the leap, what would you say? Well, I would share the same experience that changed my life.
I vividly remember my last paycheck, which was both a terrible and wonderful day for me. I was in Dubai, working for Facebook now Meta, and my boss handed me my final bonus check of around $35,000, which unfortunately was taxable. I was thrilled yet troubled by the amount. Then, a colleague named David approached me and confidently stated, “You’ll be back.” I asked him why, and he replied, “Because you’re going to fail.”
I stared at him and responded with a few choice words. He had left Facebook, failed, and returned. I told him, “You failed and came back, but I will fail and never return.” That’s the kind of mindset you need. If you think, “If I fail, I’ll just go back to my parents,” then that’s exactly what you’ll end up doing.
Becoming an entrepreneur was my only option when I had no money. I went years without a steady paycheck. My wealthy father advised me that when you don’t have that safety net, you become more determined and intelligent. It’s a test of your integrity—will you resort to dishonesty and theft, or will you emerge as a better person? The true benefit of entrepreneurship is discovering your true self.
It is crucial to always consider the bigger picture when you find yourself in a situation where you have nothing. Many individuals tend to focus solely on their own circumstances and worry about what will happen to them. However, by looking at the bigger picture, you will realize that even in difficult times, there is always the potential for something good to happen.
Nevertheless, it is essential to be prepared for whatever challenges may come your way. If you believe that the next 20 years will be the same as the last 20 years, you may find yourself in a difficult situation. It is important to be aware of the changing circumstances and adapt accordingly to avoid any negative consequences.
As an entrepreneur and real estate investor, I legally pay zero taxes. Whenever I earn a million dollars as an entrepreneur, I promptly invest it in real estate, resulting in a 4 to 1 step up. This means that by investing a million dollars, I receive four million from the bank.
This strategy has been beneficial for me, but unfortunately, it negatively impacts others. The banking system is currently favoring debtors over savers and those who work for money. Debt and taxes tend to widen the wealth gap, benefiting the rich while burdening the poor and middle class. Outdated ideas about education, hard work, saving, and investing are no longer effective in today’s world.
The shift away from the gold standard in 1971 marked a significant change in the financial landscape, leading to a debt-based monetary system. With information doubling every 18 months, according to Moore’s Law, the pace of obsolescence is accelerating. Traditional education systems are struggling to keep up with these rapid changes, leaving many individuals outdated upon graduation.
The current banking environment reflects this reality, with banks discouraging savings by charging interest. This oversupply of money has led to bubbles in various asset classes, including stocks and real estate.
People are discarding cash left and right. As I mentioned earlier, the belief that saving money is beneficial is outdated, and cash is essentially worthless. Yet, some individuals still cling to the idea of pursuing a high-paying job. However, that notion is no longer relevant. Instead, one should focus on getting into debt and utilizing it to accumulate wealth. Unfortunately, this is not something they teach you about taxes.
The reason why the top 1% is thriving while the remaining 99% struggle is due to the consequences of printing money: inflation and taxes. These factors are crushing the majority. Any aspiring entrepreneur who believes that simply making money and starting a business will lead to great wealth needs a reality check. They must understand the true essence of entrepreneurship. In America, out of the 28 million small business owners, 24 million are solo entrepreneurs, commonly known as non-employee entrepreneurs. This is because people often misunderstand the role of an entrepreneur.
Most individuals are self-employed, but they are not true entrepreneurs. Unfortunately, the self-employed bear the burden of the highest taxes, and this fact often goes unnoticed. While it is often referred to as the entrepreneurial spirit, what we are truly discussing is the absence of a bad economy. Each of us has an external economy that we are a part of, but we also possess an internal economy.
The key lies in our willpower to transform our internal economy. Personally, I can perceive both the positive and negative aspects, and it doesn’t bother me in the slightest because I am determined to become wealthy regardless. However, someone with a poor personal economy will only see a bad economy because they lack the knowledge to generate income in any economic situation.
On the other hand, a middle-class individual has a middle-class economy. They desire a comfortable home, a stable paycheck, a job, and a car. Therefore, when their job is taken away, it is seen as a disaster. However, since an entrepreneur does not rely on a job, it is not a significant concern. My message to people is simple: embrace the teachings of Bucky Fuller, who taught me how to navigate the world of entrepreneurship.
There are always two sides to consider: your economy versus the external economy. It’s all about where you have control versus where you can’t. A real entrepreneur focuses internally, always ready to rise higher after a fall. Mistakes matter because they signify a lack of knowledge. Entrepreneurs can always bounce back stronger, smarter, and happier. On the other hand, those with a weak internal mindset often succumb to their fears. The key is to have control from within rather than relying on external factors. Remember, the first job of an entrepreneur is to control what’s inside, not what’s outside. Be stronger than just a paycheck; it’s all about internal control.
