Everybody wants to become a millionaire. So in this episode, I'll talk about how to become a millionaire in 5 years.
I want to invite you to take my financial personality quiz. This quiz will help identify your relationship to money and assets and what you need to do next in order to create wealth. Click on the link below to take the quiz now! https://integratedwealthsystems.com/quiz
Watch And Enjoy! Loral Langemeier
Key Moments In This Episode ======================== 00:00 Intro & Summary 00:50 What Is Asset Education 01:16 What Are The Money Rules 02:54 How Can You Make Money 04:50 Why Should You Buy A Business 07:32 What Business Can You Do 08:28 FREE Book
What To Watch Next ======================== How Hard Is It To Become A Millionaire • How Hard Is It To Become A Millionaire
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About Loral Langemeier
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Video Summary
AI Generated
This video provides a strategic roadmap for becoming a millionaire within three to five years. The speaker emphasizes the importance of integrating financial goals into one's lifestyle, mastering asset education and due diligence, leveraging personal skillsets for income, and identifying investment opportunities in struggling businesses.
So this video is totally my wheelhouse. How to become a millionaire in five years. Because
I wrote the Millionaire Maker book and I promise you a three to five year millionaire plan.
So as you become a millionaire, the other thing you have to start right away, and it's a huge
mistake. Most people come to me and have this huge excuse. I don't have time. Don't ever tell
me you don't have time. You have time to do whatever you want to do. You got to make this
important. This money conversation, business conversation, becoming a millionaire has to
become part of your lifestyle. You don't have a personal life and a professional life. You have
a life. So put it together, bring those kids out on business trips. My kids have been all
over the world on business trips with me and they work for the company and all of those things.
Again, if you want to know how to do that, back to my search bar, you go. So as you start looking
at investments, you have to get asset education. You got to learn about diversifying. The stock
market and real estate are in crypto now are not the only three ones. You've got a lot of
other assets that you could be like looking at and buying, and you have to understand due
diligence. My third book, Wealth Cycle Investing, talks about this. I'm actually going to read you
the list of minimum. Minimum. This is just the basics of beginning parts of due diligence. Is
the investment congruent with your money rules? Well, that would assume you have money rules. So
again, in my Wealth Cycle book, I have a whole chapter. I think it's chapter four on money rules.
Go get it, read it. Do you have an extra strategy? Does the team have an extra strategy? Now,
there's usually some way that, especially now everybody wants like a big exit, right? There's
people mentoring on how to do a big exit. They might've done a tiny exit, telling you how they're
going to do a big exit. What is big money investing? See, I remember when I first started
like writing a 10 or 20 or $25,000 check felt like a lot. For some of you, that seems like a lot.
Most of us that are accredited millionaires investing, our checks start at 50 and 100. I
just introduced to a deal. It starts at a half million dollars. That's your minimum investment
to get in. So some of you just have to begin and get started. Who has the oversight? One of my
greatest mentors said, money will follow the management team. So who's on your board, who's
overseeing. And if you're a beginner out there, don't think you're going to get a bunch of like
great high value capital from a hedge fund or some sort of a, even private investor.
You've got to get some resume. You've got to get a portfolio of some success before anyone's going
to invest with you. Is the information public? Is there transparency in the project? Are the
economics sound? Is the marketing plan, the sales plan actually aligned to the business plan and the
economic environment? I mean, we are officially, right, we're recording this in, but we are August
2022, officially in a recession, higher interest rates. They're kind of modifying out a little bit,
but inflation that is skyrocketing. So can your business make it with all of this? I'm going to
say economic, and you got to kind of put political drama that's going on out there. And again,
leadership of the executive team. So how do you make money? Well, you all have a God-given
skillset. Some, you know how to do something, right? I learned a lot about money in business.
So now I love teaching it. I love marketing strategy. I love selling. I love investing.
I love just deals. I love business. So a lot of you say, well, like, well, I just like to do
whatever. Like my husband loves automobiles. He's amazing. I keep telling him he needs a business to
buy old stuff, fix it up, resell it. He could be making tons of money and you name it from a
snowmobile to a motorcycle, to an old Jeep, to old Corvette, doesn't matter what it is. It's a huge
business. You know, I have somebody actually just started this business on eBay and a Facebook
marketplace. They go down to the little pick and pull places. They pretty much for cheap,
if hardly any money, get all sorts of very unique parts. They repurpose them and they sell them back
online, especially in old automobiles, like old BMWs, old Mercedes. They're going to specialize
in that. There's so many ways you can make money. What else do you love to do? If you're a good
writer, be a copy editor, right? If you're good at camera, you know how many of me brick and mortar
businesses do not have good social media, get out and go help local businesses do good social media.
There's so many things that you could do and join a team. Like I didn't just start this company and
do the thing I now love to do. I actually dropped out of a huge contract with Chevron and went to
work with the Rich Dad Poor Dad team. I didn't work for them. I worked with them. My company was
a contract to run the cashflow game master distributorship. So I learned under the
Kiyosaki and Sharon Lecter brand of Rich Dad Poor Dad that I learned to do it. I saw a big gap. A
huge distinction in the market was how do you do these things that are, everyone talks strategy,
but who does tactics? Who really is the implementation glue and the foundation?
Well, that's what we do. So what do you do? I mean, you could be an affiliate of ours. The reason
I want to share the Kiyosaki stuff is I didn't sell any of my own stuff. I sold their stuff. I
sold Bob Proctor's stuff. I sold Mark Victor Hansen's stuff. I sold lots of people's stuff
till I got the really the understanding of this industry. Then I launched my own.
I've done so many different ways and different places to become a millionaire, but I got to go
back to one. I'm going to end with some real estate, but I want to go to one that is near and
dear to my heart. And since 2005 and six, I've been doing as well. It's buying a business. So
if you think about buying a real estate property, think about, businesses are the same, right? They
have their ebb and flow and they have their ups and downs. Right now, because of our pandemic and
what's going on, businesses are hurting. They're either thriving or they are hurting. And what they
need is a shark. You could be a shark. Never before in the history of our world could you go
into a shop, coffee shop, hair salon, auto body shop, technical business. I mean, you name it,
companies need money. They either need money for inventory. They need money just to stay
capitalized. They need money for growth. They need to completely shift. I hate that word pivot,
but shift their entire strategy. They've got to hire a completely new team. I mean, from offline
to online. I don't know how many restaurants I've helped move from offline to online to be able to
do the delivery and pickups that were completely, didn't even have a website. It was shocking.
So businesses are everywhere. And here's your homework. I want you to drive through
your town today, not care how big it is. And I want you to get one, two, and three.
If you could be a part owner, a shark, it doesn't matter that you don't know how to run them. That
is a whole different conversation. I bet if you drove through town and you just said, you know,
I'd like to own part of that company, that company, and that company. And you walked into
the company and you just had this little bit of a conversation. You say, so how are you doing?
My name is, right? I'm curious. How are you really doing? Ask the question again and then
say, how are you doing financially? I'm an investor and I'm looking for businesses I
could support. I don't want to buy and take it over, but are you in need of an investor or some
support? I can tell you that script has gotten more thousands of clients, businesses across this
country. I'm not talking about storage units, RV parks. I have a guy that just bought a trailer
park and he's flipping the trailers as one part of the business. He's teaching people how to buy
trailer parks and he's actually rehabbing and fixing that up for cashflow. So three cashflow
moves in one purchase. There are so many businesses that need you now and never before have they
needed, they need experience. Here's what they need. They need experience, they need money,
and they need some access to new markets. So those are the three things that most businesses use.
You say, well, I don't know how to do any of those. Well, I do. And I will help mentor and coach
you through them. It is so much fun right now to be involved in the volatility of what's going on
and being on the side where you can actually save and support some of these companies.
And I'm just going to teach you a lot of common sense ways to do it. But owning a business,
huge. I have a guy right now who's building a recycle. It's a plastics business. It's recycled
plastic. He's starting it in his basement. He's to the point now where he's made enough
recyclable from coasters to what's going to become tabletops to trays, to boxes,
all sorts of different cool products. It's time to move into a manufacturing facility.
What's he going to do? He's going to build a business plan. He's going to go out and look
for money. Before he does that, where do you think I'm going to send him? Right back to my video on
the EID alums. He has a business. It's recyclable. So, I mean, it's in the recycling green space. So
he can go to the department of conservation and get money. There's so many fun strategies that
I cannot wait to coach him through to make that business out of his basement into a manufacturing
plant. And maybe one day you'll even buy his plastics. My point is there is money everywhere
for those, for businesses that are getting started or need fixed. But if people don't
know what you do, you can actually start owning some. So here's what we're going to do. I wrote
the millionaire maker and chapters one through four are like critical. So I'm going to give you
chapters one through four. If you like it, you follow up with me. We'll figure out how to get
you the rest of the book. So chapters one through four review exactly what we reviewed, how to get
your baseline together, how to get your freedom day together, how to do what I call a gap analysis,
right? Where are you? What do you want? And through income and assets, how does your three
to five year plan come along? So if you would click on the link, get my first four chapters
of the millionaire maker book. And from there, we will take the next step.