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Mindset & Money | 3 Steps To Massive Financial Success

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Hosted by
Mike Ayala
If you’re unsure of where to start or what to do next on your journey to financial success— this is the episode for you. In this episode of the Investing for Freedom podcast, find out 3-steps you can take right now to start developing as a person, aligning with the right opportunities and taking active steps towards your financial goals. Regardless of where you are in life, you can take steps today to move towards financial freedom.

If you’re unsure of where to start or what to do next on your journey to financial success— this is the episode for you.

In this episode of the Investing for Freedom podcast, find out 3-steps you can take right now to start developing as a person, aligning with the right opportunities and taking active steps towards your financial goals. Regardless of where you are in life, you can take steps today to move towards financial freedom.

Catch my recommendations of places to start and relationships to build that you may be overlooking. Hear why, with a bit of commitment and work, financial freedom may be more attainable than you realize.

EPISODE HIGHLIGHTS:

  • [00:00] Intro
  • [00:47] The #1 requirement
  • [01:25] The things that nobody wants to hear
  • [03:20] Requirement #2
  • [04:07] Where to start
  • [07:05] Requirement #3
  • [07:32] Investment opportunities
  • [09:37] Precious metal investment
  • [10:26] Summary

FULL TRANSCRIPTION

 

Mike Ayala 00:00

So it’s interesting in the world we live in how often people are talking about what they can’t do. Everything’s negative or always talking about, I can’t get this done. I can’t get that done for whatever reason. So I want to talk about some things that we can do. So here’s something that I think is three requirements to massive financial success.

Mike Ayala 00:18

We have conversations a lot. I talked to a lot of people that are always like, what should I invest in? I literally just had lunch today with a guy. He’s a 21-year-old kid, and he’s, he’s working in a warehouse. He’s making $14 an hour. He doesn’t have any extra money. And he’s like, what should I invest in? And the first thing, this is requirement number one for massive financial success. Don’t worry about investing in real estate. Don’t worry about investing in stocks and bonds. Don’t worry about investing in companies. We need to change our thinking.

Mike Ayala 00:46

The number one requirement to massive financial success is to invest in yourself. I was telling this kid today as we were talking through this, you know, we’ve got all these gurus out there today that are talking about You know, TENx this and do all this stuff overnight. They didn’t get their jets overnight. They’ve been working on this stuff for 20, 30, 40, 50 years, like massive financial success is not an overnight game. And that’s where number one, I think we’ve done an injustice. A lot of, you know, us talking about success and gurus and, and this is how you get from A to B. I think we do a real injustice because nothing happens overnight.

Mike Ayala 01:25

So what’s the first thing you can do? You can invest in yourself. I was telling this particular kid today, just for the next five years, hunker down, work your tail off. Nobody wants to hear this stuff. But yeah, we need to save some money. And yeah, we need to invest. But the thing you need to do is invest in yourself. So massive financial success. Step number one, hire a coach, find a mentor, read books, nobody wants to hear this stuff. But so many times when people are asking me a question, I’ll recommend a book, and then they’ll follow back with me like three months later, same problem, same challenge, and I’m like, ‘did you read the book?’ Well, I started getting through it, I got through page three, you’ve got to invest in yourself, you’ve got to change your mindset. that’s step number one, join a mastermind nobody wants to hear this stuff. But if you’ve got $5,000 to spend, or you’ve got $7,000 to spend, spend it on a mastermind, Karen, I have invested probably more money than anybody wants to talk about getting in the right rooms, getting in places where we can work on our mindset, getting into places where people can change the way we think. that’s step number one, enroll in an online course. I know again, a lot of people are not going to want to hear this. I’m not telling you to just go out and enroll in any online course. But find out what you actually think you’re interested in. Maybe it’s online marketing, maybe it’s real estate, maybe it’s you want to start a business, invest in an online course. So that’s requirement number one to massive financial success. Start investing in your mindset change the way you think, invest in reading, who doesn’t have two hours, like I’ll tell you right now if you just look at the amount of money That’s being poured into Netflix because of the amount of subscribers or Disney plus or Hulu or anything else that just right that right there alone tells you that Americans have time to invest. So, anybody that tells me that they don’t have time, I’m too busy. I’ve got too much stuff to do around the house, you’re full of it. So step number one, invest in yourself.

Mike Ayala 03:20

Number two, I think that the second thing that is required for massive financial success, and, again, this is secondary to investing in yourself, but you’ve got to own some sort of business. If you look at anybody that’s massively successful. They own some kind of business and it doesn’t even need to be full time. Maybe they work a full-time job. They’ve worked on their mindset, they’re getting in rooms that are smarter, where people are at that are smarter than them and, and then they’ve got some kind of alternate income stream. It always starts out that way. I don’t care if it’s multi-level marketing. I’ve never done multi-level marketing and it gets a bad rap. But if all you can do is work your job and sell some kind of makeup Up, do it, get another stream of income coming. It doesn’t have to be that you quit your job. And then you go work another full-time job.

Mike Ayala 04:07

So could you start a business on the side? Can you quit your job and make as much money as you do currently? Could you bring value as a partner to someone who already has a business? Literally my current partnership at Four Peaks, Capital Partners, and Park Place communities. My partner Andrew, Illinois started this business in 2015. I didn’t become a partner until early 2018. But what I did do when I met him in 2016, I started helping him because I was good on the operation side, he already had the foundation of the business, they already owned a bunch of communities. He had the core team put together. I just started. I actually worked with him and in for the company, for free for probably a year, year and a half. So can you partner with someone who already has a business? That’s exactly what I did with him and I brought a lot of value to him, but I was able to come alongside him and become a partner. So, you know, maybe you’re good at, I don’t know, landscaping, and your team up with a landscaping company that already exists. Maybe, maybe you’re good at finances, and there’s a business owner out there who is not good at the accounting side and you could team up with him and bring some leverage. Maybe you’re good at sales. And you’ve got somebody out there that owns a plumbing and heating company, and they really just don’t know how to get the sales and marketing off the ground. But they’re good at the actual business side of that. So could you team up with someone? I’ve already mentioned multi-level marketing, but, you know, I think that’s a good way to get started in the business. Can you teach online courses, there’s so many ways out there today that you can actually get out there, create a course something that you’re good at, what if you’re good at golfing? Let’s say you’re good at golfing, create a course on how to golf, maybe you’re good at exercise, creating, create a video program around exercise, maybe you’ve been healthy eating a certain type of vegan lifestyle forever, create a video. It’s not going to hurt if people don’t buy it, who cares. So the second requirement for massive financial success, I think you have to own a business of some sort. That compounds the money you make. You’re never almost never going to make enough money in a W2 day to day job. To ever actually achieve financial success, massive financial success

Mike Ayala 04:07

So here’s the question that I would ask, What are you good at? In order to truly get to massive financial success, you’ve got to take a foundation of capital. And then you need to create, you need to be able to multiply that through investments, but you’ve got to be able to spin off some extra cash. So what are you good at? Maybe you could run a janitorial business at night. I know. Nobody wants to hear this. It’s extra work. But so is anything that’s going to get us to massive financial success. Maybe you could buy a van and clean carpets at night. Nobody wants to hear that. I’ll tell you what, when I first got started, I was working 90 hours a week. I would work out in the field all day and then I’d come back in at night and we would estimate jobs. We were doing accounting, we were doing bookkeeping, a lot of what I talked about today is having the right team and leveraging the team and I get that but you’ve got to start somewhere.

Mike Ayala 07:05

Now, tying number three in. I believe in order to really achieve massive financial success, you need to invest in real assets. And so here’s… coming back to number two for a minute. If you’re a high net worth individual, you’ve got a W2 job or you’re self employed, and you’re making a good fair amount of money, and you’re living below your expenses or below what you’re actually making, and you begin investing in real assets. That’s one area where I believe you can actually do it.

Mike Ayala 07:32

So well, when I talk about investing in real assets, where could you invest, you can invest in real estate, I hear so many times people say I don’t want to change toilets. You don’t have to change the toilets. You could literally buy a single-family house and hire a property management company. And never you could literally set it up to where you never have to hear anything unless a bill goes over $1,000 so you can invest in real assets. Without being a property management company. You don’t have to change the toilets. That’s it. excuse that people make. So you can invest with a real estate investment company. That’s one thing that we do at Four Peaks Capital Partners. If you’re an accredited investor, meaning you make over $200,000, a year or more, or 300,000 as a couple, or you have a net worth of a million dollars or more without your residence, you could invest with us. And by the way, if you’re not interested in manufactured housing, I know plenty of people that invest in apartment buildings that do the same thing. My good friend Ken McElroy, I was just on his podcast. That’s what he does. You could invest in apartments with Ken, I have a friend Jean Marino who runs the assisted living facility program, you can invest with an operator that owns an assisted living facility and just passively invest and make a return on them. There are so many ways that you can invest in commercial buildings the same way you could get a group of people together for people and just go and invest in a small commercial building and make capital that way. There are so many ways. Here’s another thing that a lot of people don’t know. And we’re going to talk more about this in some future episodes, but You don’t, you can invest in your retirement account in a self-directed IRA, you could start a QR p, I’ve got friends that do both of these, you don’t have to put your retirement into a 401k, you can move it out into a self-directed IRA or QRP of sorts. And you can literally invest in real estate, multiple different types of assets, you can invest in people’s businesses through a self-directed IRA. Nobody tells us this because generally speaking on Wall Street, they don’t make a commission if we go out and we invest in real estate unless you’re doing it in a REIT. So there’s plenty of opportunities there.

Mike Ayala 09:37

This is controversial and yes, it doesn’t cash flow, but I’m an I’m a proponent of investing in precious metals. Not a lot, because it’s really not an investment to me, it’s more of a hedge against inflation and, and its security, but I’m of the school that says you know, invest 10% in precious metals. Is it really investing? No, it’s arguable, but if you talk to anybody that’s super successful, has massive financial success, they’ve probably invested in some sort of precious metals, they probably own some of their net worth in precious metals. There’s another conversation about infinite banking, you can literally pour money, you can overfund some life insurance policies. And it gets to the point where you can borrow against it, and pay your own policy interest. And you could use that to buy real estate, you could use that to invest in different avenues. So

Mike Ayala 10:26

This was a lot of information, but I just wanted to throw it out there. I really believe at the end of the day, that these are the three things that you really have to focus on for massive financial success. Number one, invest in yourself. Number two, you’ve got to own some kind of business that creates additional streams of income that accelerates your financial growth. And then number three, you’ve got to take that money that you’re spinning off after you’ve invested in yourself, and you’re making more money in some kind of business asset and you’ve got to invest it in real assets. That number one, securitize that money that you’ve already made, but go out and compound it. So This is for another day, but the tax benefits. They’re really on the business side, they’re really on the investing side. So that’s another value in all of this. As you begin investing in yourself, you start changing your mindset. There’s going to be so many tax benefits on the other side of that, that we don’t get as W2 employees.

Mike Ayala 11:20

So to sum this all up, there are three requirements for massive financial success. Number one, you have to invest in yourself, we got to start working on the mindset. Number two, you need to create some kind of additional streams of income

STANDOUT QUOTES:

 

“Anybody that tells me that they don’t have time, ‘I’m too busy. I’ve got too much stuff to do around the house,’ you’re full of it… invest in yourself” – Mike Ayala [03:10]

“As you begin investing in yourself, you start changing your mindset.” -Mike Ayala [11:10]

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