These Rules Made Me So Rich I Questioned the Meaning of Money

Back in 2009, we had a major issue that we had to solve in the business.

And when I asked my business partner, Ethan, to meet me in the office, he said he couldn't...

Now, we’d just raised a million dollars from some of the top investors in San Francisco, we're building up the team, and we ran into an issue with our product.

So I asked him "Why can't you meet?"

And he was like, "Hey man, I've got to get some laundry done."

I'm like “Okay I know it's Sunday, but you can do your laundry on any other day.”

He said “Yeah but I got a plan, and if I don't do it…” da da da da.

So I told him “There are literally three different laundromats on your way to work that do wash and fold. They'll do it for like $35.”

He’s like “Yeah, man I'm not really paying myself enough. I'm barely making rent.”

Here's a situation where we just raised a million dollars to build the business…

And he can't come work on the business because he's too busy doing LAUNDRY.

Crazy, isn’t it?

He’d rather trade his time for a few extra bucks than trade a few bucks for extra time.

Most founders start like this.

I did too.

But the wealthy spend money to save time.

Once I've got that time, I invest it in acquiring new skills that allow me to become more valuable.

Then I get to make more money to buy time to invest in more skills.

That is the way it works.

This is just ONE way the rich think differently about money.

And if you want to be truly wealthy…

There’s a whole bunch more you need to know.

That’s why in today’s video, I’m sharing the 14 rules of money that made me so rich I questioned the meaning of money.

Instagram: @danmartell
Twitter: @danmartell

[brianwhitehawker]

Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.

[oneillbilder]

Rule 8 indicates you don't need a high IQ to be a good investor, just 2 qualities, self discipline and a lot of patience. Investing is mostly about behavioral psychology. How can I generate more income to retire with at least $3m for long term care?

[gingerkilkus]

I wish i learnt most of these principles about seven years ago. A lot of people have been trapped strongly in the matrix-- Go to school, get a job, and then slave your whole life. Many miss out on life-changing information that could have great effect on their finances. Sometimes Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.

[RobertDavid]

*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*

[debbygradley]

I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises of plummeting stocks which were once revered and i don't know where to go here out of devastation.

[AdamNicholas-d]

The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.

[kurtKking]

Looking for long term in-vestments that can fetch-millions. If you had $250k, which one would you go for in terms of retirement-planning?

[DharmendraSinha-mziv]

there's a book called whispers of manifestation on borlest, and it talks about how using some secret tehniques you can attract almost everything in life it's not some bullshit law of attraction, it's the real deal

[CarlShanklin]

There is obviously a compounding effect in the very long term for large capital, but is not "automatic", and with the wrong strategies you can even lose more than you have.I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies. Any advice on this matter would be greatly appreciated

[crticibalkan]

Antozent- they are selling around 150 self help books for the price of one (you’re welcome)

[michaelschiemer]

In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.

[keajd]

If you ever listen to anything while reading comments let it be this- go read the book Arab Money Secrets, then come back and thank me

[SarahTaylor_]

I recently sold my house in Portland and am thinking of investing the funds in the stock market. Although I know it's a great time to buy, I'm unsure if now is the right moment for me. I'm also wondering when I can expect to fully recover my investment. To be honest, I'm puzzled by how others in the same market are making significant gains of over $450, 000 in just a few months, and I'm trying to understand their strategies.

[rrandd]

When i hit $1 Million in my ROTH IRA last year it felt good but was kind of anti climatic. We also just keep living our simple lifestyle - none of our neighbors or friends would even guess our financial situation. However, despite market gains, our portfolio has seeing great decline. Seeking to improve it and maximize returns.

[Riggsnic_co]

These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.

[FredMeyer-noji]

Fantastic video! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong??

[alicegomez]

I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions

[GillerHeston]

Nice content! Few years back I was assistant to a wealthy pen artist and within the short period I worked with him I observed that he had quite a chunk of investment everywhere, stocks, crypto, dividend investing to name a few, so he had revenues coming in from all angles. And in a year his worth doubled. With this I learned that the rich stay rich by investing.

[ConfusedCheeseBoard-kxtc]

With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly—which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stocck portfoli0

[alexandralee]

1)Spend 20% of your income and save the rest
2)I'm he most important asset
3)Buy time with money to invest in new skills, never trade time to save money
4)Assign priority and don't diversify, be the best in class
5)dumb luck, grit luck, skilled luck
6)Have a record budget, plan for worst case scenario for business and personal life
7)Give to get, invest instead of save
8)borrow to make returns
9)Analyse risk to return ratio
10)Wealth is man capacity to think
11)Avoid lifestyle creep
12)Build a personal p&l, personal life income statement
13)High tide rise all boat, hire competent by investing in people, make your dreams big enough for others to join you on your dreams
14)Money is a tool to get to your goal
15)net worth is network
16)Define your why