How To Build Wealth In America

How to build wealth in America, which I still believe is one of the best places to do it because we have four corporate structures and 81,000 pages of tax code. Nowhere else in the world has a level of tax structure and capacity to build your dream. So what do you do when you have little money? Well, that was me when I was young. I didn't have any money, so I started with my skill sets, right? So I was 17, I started personal training in aerobics. So that's sort of the obvious thing. If you don't feel like you are an expert anything, well, then you've got to use your personal connections and your professional connections. And you say, well, I don't have that either. Then you need to get out online. I would go to LinkedIn. I would set up some social profiles. I would join groups. So you start meeting the people that you want to become like, because you finding a model company and model people is imperative. Like when I first joined the Rich Dad, Poor Dad team, I knew that was the kind of company that I wanted. I had to be there a little while to what was the distinction? What was I going to do that was going to be different? And what I learned having done the cashflow game for years and years and years is the how-to. How do you connect the dots at a behavioral level? Because anybody can set up a company, right? You can go to Secretary of State. You can go just like go grab a company for pretty, pretty cheap. Is it set up right? Absolutely not. I see disasters in corporate structure because you're trying to guess what you're supposed to be doing. And behaviorally, you miss the boat because you don't know the deductions you can legally do. You don't know how to employ yourself. You don't know how to employ your kids. I go on and on and on where the breakdown is. So when I saw that, I said, well, I'm going to get into the nitty gritty. I want to be the how-to at the checkbook level, the credit card level. How do you build this? Because in your household and in your business, that is where these behaviors began. That's where you're spending the money. And if you don't spend right, they can't be deducted right, which means you didn't really do the benefit. So find people, find connections, join groups. I traveled all over the world. First thing I would do is I would find places of interest. Like when I was super young, I was in a running club. I was in ski clubs. I would just join groups of people and go hang out with them. And I'd find the most entrepreneurial people. It's amazing how you're going to put yourself out there. And some of you say, yeah, but I'm really shy and really quiet. Well, you can use that as an excuse your whole life. You're going to get to getting wealthy because getting wealthy is an intention and you got to want it. It's not just going to land on your lap. You might get a lottery ticket, but guess what? Even the lottery ticket winners, only 2% keep their money because they treat it like a big paycheck and they just buy everything and the money's gone. So you have to leverage other people and their connections. And the other things I would look for as I'm building a database, and if you don't know what a database is, I've had a database since I was 21. Go to askrms.com. It's in the description below. A-S-K-R-M-S.com stands for Rapid Marketing Systems. It's the technical system and the database structure that I've used for decades to build what I've built. And believe me, I kept every name, phone number, and email. I'd email them. Now that we text, I would keep track of them. But through that, by doing that so young, when it came time to like, oh my gosh, like I want to go, I had 18,000 people in my database. So I then got a mentor, a really, really good one in real estate who said, you have 18,000 people. You need to go learn how to raise some capital. Let's go buy some real estate with these folks. He's like, I'm going to teach you how to use other people's expertise, other people's credit, other people's money. And you're going to start that way. I'm like, all right. I had no idea, just like you, but I got a mentor that taught me how to do it all. And in six months became a real estate millionaire because I had that asset, 18,000 names, phone numbers, and emails in a database. So this isn't about giving your information out. It's about acquiring it. Now, do you want to buy lists? No, because they don't know who you are. They're not endorsed. They don't matter. So you want the endorsement of the owner of the list if you're going to be able to even market to them or use them. So how do you use OPM? Like really OPM. And I'm going to talk about good debt. And I'm not going to go into like hours and hours of it because it's here already. So there's a whole playlist on good debt. And I want you to go to my search bar and just really consume the information about what I mean by good debt. So if you have little money, no money, and you want to make money using debt, which debt, by the way, is just the cost of money. So if you can get 0% money, it's free. It's better than hard money, which is coming from a person, probably 12, 15, 17%. So it's free money. You say, well, what do I do with it? That's when a mentor or other partners are going to come into play. You're going to have to find people with experience. If you actually go rogue and try to do this on your own, and I'm using the word try because it's a joke. You don't try anything. You either do it or you don't do it. But a lot of you try and you think that doing this alone is like a better deal. Like, well, I did it by myself. I think you're crazy. Number one, you're by yourself. It's risky as heck because you don't know what you're doing. So the chances of survival and mistakes is like right at the top, 90% or more. So why have costlieres? For a little bit of money, you get a mentor, a coach, somebody who could guide you, and you avoid the costlieres. By the way, when you're like my client, you get access to my Rolodex. I introduce you to as many people as you want to get introduced to, if it makes sense for you to get those introductions. Like I've introduced people to McGraw Hill, who's my publisher of my primary big millionaire maker books. I've introduced people to Hay House, who had more of a spiritual book. So I get quite a Rolodex. So again, I think mentors and coaches have done three things for me, and as I do back for other people, which is open up my Rolodex, avoid costlieres, and speed up your result. So OPM is about using other people's money. Now, if you are in a job that has a good 401k, just so you know, every employee that actually activates the 401k, typically in those structures can borrow up to $50,000. So you could find five people, borrow 50, 50, 50, that's a quarter million dollars last I checked, and go start buying some real estate. Now, without a real estate mentor, that would be pretty risky proposition, because now you have five of you, clueless, doing things that are not clueless. They take some initiative, they take some direction, and there's ways to get the structure of that, that protects you all, and make sure that you don't end up in litigation. I'm a huge fan of OPM and OPCs, because you're going to find times where you might have bad credit. So not only do you have no money, you have not many credit. You say, well, then how do I navigate that? Use somebody else's credit. And if you're the person giving credit to a project, make sure you're in charge of the payments. One payment gets missed, your credit goes down. Now you just tangled up the whole relationship. So I could go on and on and on. I have to go from nothing to a lot. I've taken people off welfare. I have taken a woman that lived in a van out into now she's got her own property, as well as her own massage salon, her own spa. I've taken single moms who've had five kids literally on welfare, and they started a cleaning company. And you're like, well, I don't want to clean. I want to do this all online. Well, it was a combination of online products and then their offline service. And by the way, I didn't say you had to do all this work. So over time, once she got it up and running, she and her kids never cleaned a house or an office again. They hired it all out. They owned the crews who did it. There's so many ways you can navigate this. Another great story, I've had some teenagers that are like 18, 19, 20. They started a hauling company and a pressure washing company. And again, used credit cards, 0% financing, used their parents' credit and got a truck, got the equipment and started the business, did loans to pay their parents back however they needed to do it. Or you could borrow it from a friend. There's a lot of ways to do this. You just have to get out of your own way, get creative and get the right help. So anytime you want to call our office, have a strategy session, talk to us. We do an event once a month called the Millionaire Intensive that teaches you all these strategies. Actually, there's a marketplace, which is why I really want you there. Come sell to my audience, whatever you want to sell, as long as it's legal and ethical, between 3 and 6 p.m. during that event once a month and get 70 to 100 new names, phone number, emails for your database. Now, before I continue on other ways to make money with no money or little money and do it in America, which is my favorite part of this topic, I need you to subscribe to my channel. I want you here five days a week. I want you here with you and five or six friends. Anything that you want to learn about that I haven't talked about, because I'm going on to about three years of our channel here just for you and talking every day, put it in the comment section below. And we'd love to create some content for you around that so we can help you. Now, the last part is how you're structured and how you're investing. Because once you start knowing how to make money, then you have two new problems, right? Kiyosaki used to always tell me there's two problems, too much money and not enough money. So right now, you're listening to this video because you don't have enough money. As you start making more money, you want to make your money as long as you are 18 years and older in corporate structure. The way I teach it is companies make money, individuals get taxed, which means the more money that comes to you as a person, the worse it gets. You don't get a lot of deductibility. You don't get about 13 to 30 deductions. A company gets up to 81,000 pages of deductions. So do you want to use the whole tax code, which is phenomenally based for capitalization and for capitalism and to help you grow your wealth? Or do you want to just use yourself and be a sole proprietor? When I hear people as a sole proprietor and solopreneur, I hear suffering, pain by yourself. Why are you doing it by yourself? I have never done any of this by myself. I actually coined the term teammate millionaire because I think you all could be teammate millionaires, but you need some help along the way. And the faster you get the right help, the faster you're going to get to your results. So as you invest, I have a couple other softwares. I have a software called iFlip, great place to put your money. You can create liquidity, which means you can cash it back out in 48 hours so they can't keep it forever. But it's a way to go in and out of the stock market through a software that's AI driven and completely purposefully planned to make you above the S&P 500. We are winning awards in iFlip that beat Robinhood all day long. So get a free account, click on the link in my description below, and let's see you get moving with that. The other thing is as your company employs you. So even if you have a big job, I want your company to give you a tiny little salary. I don't care if it's going to be $1,000 a month, but that allows you to then to get a Roth IRA. Now, if you have a big corporate job somewhere else and are making six figures, which I doubt you're here on this video because you're here building wealth with little money, but if you did, then the whole game changes. So we've got to restructure it because if you make more than a hundred, you can't get a Roth. So there's a lot of variables. Again, you just want a place where you could ask questions, which is why we've created Ask Laurel, A-S-K-L-O-R-A-L. Ask a question, make a request. There's so many questions you should be asking. I mean, just reading one of my books, Read to Make Your Kids Millionaires, Read the Millionaire Maker. Each book you should walk out of here with probably 50 to 100 questions of what do you need and how can I help you create money, invest your money, use a team, produce your taxes. You get the whole enchilada here. And our whole goal for you is eventually to plan a legacy, not just a legacy of intellectual property, a legacy for your family to have wealth for the first time in their life. You can do it with little money, no money, and guaranteed a lot of our international clients do it here in the United States of America. So welcome. I'll talk to you tomorrow.