SUMMARY
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In today's episode, I delve into the empowering reality that the vast majority of wealth in America is not handed down through generations but is actually self-made. It's a fact that flips the script on economic fear and opens up a world of possibility for anyone with the drive to succeed, even amidst global turmoil.
I bring you stories and insights from my years as a financial advisor, shedding light on how an average income can be the seed for a thriving financial future. The key? Business ownership and strategic investments in solid companies. This isn't a tale for the elite few; it's a roadmap for anyone ready to grasp financial opportunities, regardless of the economic climate.
But it's not all about the numbers. We face a "gathering darkness," an array of challenges that stir up our primal instincts of fear and flight. I address the importance of mindfulness as a tool to navigate through the sensationalism and anxiety that often accompany uncertain times, encouraging a steadfast focus on long-term goals.
By breaking down these concepts and offering practical advice, I aim to guide you through the tempests of doubt and into a future where your aspirations are not just intact but flourishing. Join me as we confront the "gathering darkness" and transform it into a journey towards financial liberation.
TAKEAWAYS
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(00:00) Generation Control and Inherited Wealth
(06:17) Building Wealth for Your Family
(09:44) Natural Selection's Power in Our Minds
(17:48) Owning Shares in Great Companies
QUOTES
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"Owning shares in the great companies of the US and the world is the dominant cause of all wealth. It is greater than all of the other causes combined."
"As the darkness gathers, the screaming will get worse. We have to recognize that the facts may also get worse as well. Until, eventually, they start getting better again. No one's going to know how markets or economies will react... There are no facts about the future. The light will always be followed by the dark, and the dark again by the light."
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𝗔𝗯𝗼𝘂𝘁 𝗠𝗶𝗻𝗱𝗳𝘂𝗹 𝗠𝗼𝗻𝗲𝘆
Mindful Money is a financial education and coaching platform originally designed for our client’s kids. Today, we are committed to bridging the Wealth Gap.
100% of the profits from our courses, memberships, and workshops go to:
1. Keeping our DIY Financial Education programs free for groups
2. Supporting BIPOC businesses in the state of CA (ESO Ventures)
3. Supporting BIPOC asset-building (Reparation Generation)
4. Scholarships for first-in-family college students from socio-economically disadvantaged students
The impact of zero practical financial education in our public school system hits harder the less you have at the starting point. No financial education and lots of financial stress is a recipe for bad financial decisions and worse outcomes. The less room you have for mistakes, the greater the impact common mistakes will have. The Wealth Gap cannot be overcome without financial education.
Whenever someone takes a course, becomes a member, or signs up for a workshop, they keep the courses free, and they contribute to scholarships, asset-building, and entrepreneur support.
If you have a group of 10 or more young adults who would benefit from access, just ask.
𝗣𝗹𝗲𝗮𝘀𝗲 𝘀𝘂𝗯𝘀𝗰𝗿𝗶𝗯𝗲 𝘁𝗼 𝗼𝘂𝗿 𝗰𝗵𝗮𝗻𝗻𝗲𝗹, 𝗹𝗶𝗸𝗲 𝗮𝗻𝗱 𝘀𝗵𝗮𝗿𝗲 𝗼𝘂𝗿 𝘃𝗶𝗱𝗲𝗼𝘀!
𝗦𝘁𝗮𝘆 𝗶𝗻 𝗧𝗼𝘂𝗰𝗵:
Visit https://mindful.money/ for more information or to book Jonathan for a panel or presentation.
Sign up for the Mindful Money Weekly: https://courses.mindful.money/email-opt-in
𝗙𝗼𝗿 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗘𝗱𝘂𝗰𝗮𝘁𝗶𝗼𝗻:
- Check out A la carte financial education: https://courses.mindful.money/store
- Check out our Life-Stage course bundles: https://mindful.money/services/financial-education
- Check out our DIY Financial Plan Course: https://courses.mindful.money/financial-planning-course
𝗙𝗼𝗿 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗖𝗼𝗮𝗰𝗵𝗶𝗻𝗴:
- Check out our next Retirement Workshop: https://courses.mindful.money/mindful-retirement-review-workshop
- Become a Member: https://courses.mindful.money/mindful-money-membership
𝗖𝗵𝗲𝗰𝗸 𝗼𝘂𝘁 𝗼𝘂𝗿 𝗙𝗥𝗘𝗘 𝗦𝘁𝘂𝗳𝗳:
Values, Purpose, & Goals: https://courses.mindful.money/values-purpose-goals
Three Paths to Wealth: https://courses.mindful.money/threepaths
Before You Hire an Advisor: https://courses.mindful.money/financialadvisor
𝗦𝘂𝗯𝘀𝗰𝗿𝗶𝗯𝗲 𝗮𝗻𝗱 𝗟𝗶𝘀𝘁𝗲𝗻 𝘁𝗼 𝗼𝘂𝗿 𝗣𝗼𝗱𝗰𝗮𝘀𝘁𝘀:
𝗠𝗶𝗻𝗱𝗳𝘂𝗹 𝗪𝗲𝗮𝗹𝘁𝗵 𝗣𝗼𝗱𝗰𝗮𝘀𝘁 – for discussions and interviews about wealth and culture: https://www.youtube.com/channel/UCCDQJWc5efWepwbIXdIDbUQ
𝗠𝗶𝗻𝗱𝗳𝘂𝗹 𝗠𝗼𝗻𝗲𝘆 𝗣𝗼𝗱𝗰𝗮𝘀𝘁 – For the nitty gritty on earning, spending, saving, investing, and giving: https://mindful.money/mindful-money-podcast
𝗖𝗼𝗻𝗻𝗲𝗰𝘁 𝘄𝗶𝘁𝗵 𝗝𝗼𝗻𝗮𝘁𝗵𝗮𝗻 𝗗𝗲𝗬𝗼𝗲:
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