Money Money Money Money

4″ Glass Diamond:

How’s it going everybody this is beat the bush today i’m gonna talk about money money money in particular it’s gonna be about our relationship with money and i’m gonna share a bit of insight about how i think about money with the sheer amount of time i talk about money and the number of videos dedicated to it you might think that i really really love money who does

Not like money you need this stuff in order to buy food you need this stuff to pay for your living expenses your dwelling and basically money makes your life go round but sometimes i’ve been accused of loving money too much and also being a little bit too cheap now let me ask you for a person that really loves money would they quit their job and take a significant

Pay cut there are a lot of reasons where a person would take a significant pay cut but i contend that for a person that really loves money they would try to earn as much as they can for as long as they can now you might think short term maybe this month i only need $1,000 to live on so you go and go okay i’m gonna earn $1,000 if you’re not in love with money then

You just earn that $1,000 and then you know that’s it on the other hand you might see someone going oh they only need the thousand dollars every single month but then they go around saving a lot like $10,000 20,000 50,000 dollars and then you might think oh they really like money they love money because they just like the idea of having more and more of it if you

Look at it in that context sure that person might look like they love money a lot because they’re just hoarding as much as they can to me however there’s a bigger goal here is essentially trying to buy your life back back from your employers to me if you’re on a salary you’re essentially a modern-day slave you’re being extracted of your life force basically and in

Turn you’re getting paid money now there are several tests to see if you are a slave to your job i mean there are a certain percentage that truly loved their job and their goal no i’m you know they’re not a slave to the to it at all because they really like it they enjoy it know you can figure out if you’re a slave to a system or not just basically don’t go to

Work in obviously if you just don’t go to work for a while try like a week you’re probably get fired within the week if you just don’t show up for a week you’re in a way also a slave to the system if you have a mortgage because you essentially have to pay that amount every single month and in order to make that payment you need to go to work so a large mortgage

Is essentially locking you into the system so that you have to keep on working now i’d like to cover a little bit about that point where people say essentially that they really love their job and they are not a slave at all they really enjoy and they’re doing it out of their own will to me i believe yes there are a lot of satisfaction that you can gain by going to

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Work there’s a lot of other type of interaction other than just getting a paycheck however given any job you’re gonna have a certain degree of freedom with your creativity and sometimes you cannot just go out and you know draw beyond the lines and just do whatever you want basically you have a superior and you know sometimes you have a lot of freedom to do many

Many things within certain bounds because if you essentially go over that your supervisor whoever is gonna go no you should not do that do this now that is the point where you are no longer within your freewill when someone tells you something it might be in a nice way where you know these try to suggest and go oh why don’t you do this or you know it might be good

If you do this but you know that’s just a nice way of saying things they’re not commanding you directly but you know that you know that’s essentially what you need to follow so those are sort of subtle you know commands that essentially obligates you in your job to do what your job function requires you to do so my argument here is whenever you’re working for a

Wager essentially tied into the system and trying to save enough so that you can retire early is kind of like buying your life back and this large amount that you need to save up you can easily calculate it let’s say you your burn rate it’s about twenty thousand dollars you divide it by 0.04 the 4% safe which are all right then that equates to about five hundred

Thousand dollars in liquid assets that you need to have sit there so that it can appreciate that four percent so that you can take that extract it and use it as your living expenses $20,000 is pretty comfortable if you already have a home that’s fully paid off via that’s a $200,000 home or a 1 million dollar home whatever range wherever that you’re living if you

Have a home that’s fully paid off your living expenses just drops down dramatically having your own place paid off greatly reduces the amount of liquid assets that you actually need in order to generate enough income so that you can use it for your day-to-day expenses so in light of this i see this hoarding money thing is not really like me trying to hoard as much

Money as possible i’m not trying to hoard millions and millions of dollars the whole purpose here is that yeah i might seem like i’m being cheap or i’m trying to hoard money or something but only up to a certain point where i have enough to sustain my life and i can actually essentially buy my life back from whoever’s employing you back in the day there’s slavery

And of course i cannot tell you about it based on experience but people can buy their freedom with a large chunk of money and this is kind of essentially the same thing if you have a large chunk of money which is tomato and dollar to $1,000,000 per person then you can kind of essentially buy your freedom back by your time back essentially and just sort of free

Yourself to do other things that you actually want to do now when i estimated the $20,000 this is a pretty tight budget and unique practice in order to reduce you to expenses that much for some people that are living on a low income yeah they’re gonna go oh this is really easy i already do that now i courted a $20,000 burn ring every single person every single

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Year now if you have two people sure maybe you only need to spend $36,000 not exactly double because there’ll be some overlap some people that earn maybe $30,000 already earned this amount but it’s gonna be a really hard uphill battle to try to save five hundred thousand dollars based on a twenty thousand dollar burn rate if you earn $30,000 however if you earn

$50,000 and you only burn twenty thousand dollars every year then you might be able to save $500,000 probably within ten years or so so buying your time back away from this slavery system slavery’s loosely because you’re not exactly getting whipped you’re not being forced to do it because a lot of employment it’s at will you can quit anytime you want but you know

There’s dire consequences for quitting you’re not essentially gonna lose a lot of material things that you have you’re not gonna be able to eat so it’s kind of like a slightly forced and enforced type of employment because you need the job a lot of people need the job because people can’t just go all just quit so once you get yourself into this situation where you

Can quit at any time that you want because you saved enough then you essentially bought your time back and you’re essentially have a hold of basically your life now let me go back to the $500,000 liquid assets thing you don’t actually need $500,000 just sitting there in a brokerage account collecting dividends the point here is you can essentially supplement your

Investment income with residual income you know royalties or whatnot anything where it’s sort of a passive income it does not have to be in the form of of investments of stocks and the stuff you can essentially you know go and write a book where it’s essentially go get royalties you know maybe in let’s say you get $10,000 of royalties and every single year and

Then maybe a little taper off so it’s gonna be a little rocky you need to service it a little bit because it might be send me passive you need to put a little bit of work into it to to get it going but at least i think writing a book might be give you a lot more freedom you might have to listen to publishers about their guidelines or whatnot but at least if you

Put your creativity into the book then i believe this type of latitude that you have it’s a lot more freer than working for someone so if you have ten thousand dollars of passive income you can essentially have this five hundred thousand dollar requirement then suddenly you only need $250,000 in investable assets to give you ten thousand dollars of passive income

And then you can grab the other ten that you need from royalties or any kind maybe like rental income or something like that you can pull all this together and if you have enough for your living expenses also with a home paid off floor then you’re essentially free you can then take this extra time which i truly believe in you’re gonna have a lot of extra time then

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You can use this time to generate even more passive income so the point at which you can make this switchover it’s kind of like a critical point and i’ve seen other people i mean very entrepreneur people they do this way way early like somehow they have the guts to do it where you know they essentially do not have all this passive income at all they essentially go

Straight to do what their whatever they want and they believe in some in themselves so much and yet at the same time they become successful it’s a slim chance though but they become successful and then they make you know essentially enough just from doing what they actually want in the beginning rather than you know the route that i take where i go to work you know

Earn you know enough so that i can make the switchover i hope you enjoyed this way of thinking it just kind of broadens your mind in thinking about you know your attitude towards money and your attitude towards your job you need your job to make your money so that you can have a pool of it to begin with and essentially retire don’t forget to give me a like on this

Video comment down below let me know what you think of my fake diamond over here to check this out it’s just a piece of glass it’s not even crystal but it’s pretty neat to look at because it just shimmers and it’s huge there’s no way i’m gonna afford to be able to buy a huge diamond like this this is probably you know i don’t know if they ever sell something this

Big you’ll be like 100 million dollars or something now you might think i really love money just because i bought a fake diamond like this but i just think that well this thing is like 10 bucks or something i forget how much it was is pretty cheap and you do realize that when you buy a real diamond is artificially inflated so that it’s really really expensive

Essentially whenever you buy a diamond if you ever try to sell it back you’re gonna get very little return from what you paid for now do you want to buy into something like this when you know that some entity out there caused the price of these to be high it’s just something that’s not natural to me and it’s sort of not a sound financial decision if you’re

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Credit score or helping to your finances and as always don’t forget to subscribe to my channel over here and click that bell icon next to that subscribe button so now you get a new nova cave new to be there thanks for watching

Transcribed from video
Money Money Money Money By BeatTheBush

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