Latest / Money Grows on Trees / #214 - These TERRIBLE Trending Money Advices Will Bankrupt You!

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#214 - These TERRIBLE Trending Money Advices Will Bankrupt You! · Money Grows on Trees

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Slavery, slavery, slavery, slavery. Do you think
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Why does someone want to be a billionaire? I don't care how much money you make. Start
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How do you ask my husband to be able to kind of be a stay-at-home mom?
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The husband makes $975,000 a year and won't let his
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wife stay at home with the kids? You don't need to go back to work. If you're making
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Let's do some reactions to some legends on the internet. I'm
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Lloyd James Ross, seven figure investor and entrepreneur, and I've helped thousands
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of business owners and professionals turn financial stress into
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success. If you're stuck in old money habits, overwhelmed by investing
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or unsure where to start, this is for you. I'll give you the mindset
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and strategies to take control, grow your wealth and achieve
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financial freedom. It's time to make your money work for you.
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All right, it's time to have some fun. Let's do some reactions to
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You're going to laugh. I don't care how much money you make. Start saving money. You're going out to the
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party? I'm not coming. We're going out to the club Saturday night? Dude, I'm not
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coming. We're going to go over to yours? Dude, I'm not coming. We're going to go do this? I'm
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Yeah, so say no to more stuff. We're going to do this? Nah, nah,
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nah, because my priorities are different. 100% is what you're going to do at the start. Save,
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invest, save. Save. Yeah, save, save, save, invest.
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You can't invest if you don't save. And how you save? You stop doing stuff that costs money. 100% that's
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what you got to do. Most people say yes to too many things. In
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the beginning when you're young, say no to more stuff, and then later on you can
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Save. Your income goes up, don't change your lifestyle. Your income goes up, don't
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Lifestyle creep happens when you start making more money, you start spending more, but keep
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it exactly the same as you start making when you get a gap. The gap starts
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to build and that's what you can invest and you can scale your money without scaling your
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Your income goes up, don't change your lifestyle. Let your income increase two,
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three, four, five times before you dramatically change your lifestyle. If
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Underspend your income. It's not rocket science. I don't
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know why people think that, oh, I'm spending this. I'm going to spend, I'm going to make this. I'm going to spend
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If you can afford to live in a $10 million home, live in a two million. Warren Buffett is the
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wealthiest, one of the wealthiest men in the world. He lives in a house that cost him like 40,000 bucks
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and he's still there. He drives a beat up car. He hasn't let lifestyle creep
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overtake his wealth. That's why he's so wealthy. and then all
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of a sudden boom you're like man this pillow got softer i
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sleep better right now i feel better what the hell just happened all of a sudden because you
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made better decisions so yeah so the life luxuries
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you think are luxurious won't be if you've used debt to get them
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and you're still under financial stress whereas if you're financially independent
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Even your pillow that's not that comfy will feel a lot more comfortable and you'll sleep more soundly. That's
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If you're in your 20s, here's how you save your first 100k.
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Now this won't work for you if you're soft or if you're a punk. in
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your series about success, pay attention. Start working 12 hours a
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12 hours a day, because the more you work, the less you spend, because there's no time to spend.
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Get a second job, yes, because you won't be able to fill 12 hours a day almost with one job,
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and jobs are the fastest way to make money. In the beginning, you trade
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your time for money. In the next step, you trade your money for time, then
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drive Uber, in addition to your regular job. I was able to do this
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when I was in my 20s. I spent two years working an average
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Yeah, so when I was on the come up, I was working six days a week in
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a property business and a side hustle in network marketing that we had to use my spare
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I was training people in the morning, starting at around 5am. I would train a few clients,
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The only way to get ahead when you're starting out to trade your time is
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to actually spend more time doing that stuff. So getting up early and spending
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your time doing things before and after work is the only way to get ahead when
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you're starting out in your 20s. So without a doubt, do it. I did it. I
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And then I would work a few more hours for a movement company in Manhattan. And
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I did that seven days a week. And on the weekends, I woke up early, trained people at
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See, he's working so much. He has no time to spend money.
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And that's the beauty of this. If you want to save money, just spend like
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as many hours a day working, because you're not spending it when you're working. And that's how you get
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ahead. And you don't have to do it for very long. 90 days of this. will
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get you ahead. When I was in my 20s, YouTube wasn't even really
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around or Facebook for that matter. So it's not like
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it is now. So if you're in your 20s, you can buy and sell sneakers, you
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can trade things, you can do ads, you can get on Fiverr, on
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AirTasker, you can do odd jobs. I mean, my wife even looks
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after dogs using the Porsche app and she can make thousands of dollars babysitting
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dogs. What the hell? Babysitting dogs. It's not that difficult.
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Just go to an app and go to work. You're not usually getting ahead because
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you're just pretending to work. You're fake working. Stop fake
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working. There's so many opportunities now to do anything.
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You don't have to get up and PT people. You can absolutely use
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Slavery, slavery, slavery, slavery. Do you think
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It's mathematically impossible to get rich in a nine
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It is possible mathematically to get rich in a nine to five if you
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underspend your income, put in assets and let it grow over time. It's just not fast,
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but mathematically 100% possible. If you're on 350,000 a
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year in a role in like a mining company or a bank and
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you're saving your money, you can 100% get wealthy. I have
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Well if a person in 9 to 5 saved up 100k and they bought Nvidia stock, they're buying
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a ton of Ferraris. So yes you can, you just have to have the
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financial knowledge to be able to do it. You
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can probably grab a Lambo for about $390,000 and you can actually,
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So you can easily get a Lambo for $390,000. You go to carsales.com,
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go look at Lamborghini. You can probably get a Gallardo or a Huracan
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for like $300,000. And you can actually borrow the money in
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a job to do that. So you can actually get a Lambo in 905. It's
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probably not the best idea, but you definitely could. Then you can put YouTube clips together
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This has always been said in the books. If you don't make a change, you
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will never see change. If you never change anything in
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Very true. If you don't change your inputs, you won't change the
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outputs. If you want an unconventional output, you've got to have an unconventional input.
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So start doing things different to what people do and you'll have different things to what they have.
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So interesting, the person you marry or the
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person you're with has got to be arguably the number one
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most important financial decision ever. I'm not just saying that because my wife's sitting over
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there, but I'm also saying it because if you're around that right person, you're with them,
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that will level you up as a person and you'll have more stability and two
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minds are better than one. I mean, it's 100% true. This is a
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great financial mistake. Just dinners, just didn't
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What a great financial move to break up with someone who is like
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that, that doesn't share the same values as you when it comes to money. Smart move. You
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know what? Success is a matter of having one uncomfortable conversation after
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Uh uh, staying single, not a good idea. It's
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actually proven that married men are wealthier than unmarried
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men because stability in relationships, actually the one
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of the best wealth moves you can make, just crappy decision
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who it is. So if you actually make a good decision on that, you'll be a
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lot wealthier. So don't, don't agree with that. And he will figure that out too
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Billionaire by 30. Possible! Statistically
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Okay, she's got a plan, which is very unusual. Usually when people say, I'm going to be
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a billionaire in the next two years, whatever it was, they don't have a plan. She's got a plan, but
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Sure, sustainable wind farm is ridiculous, but I don't wanna
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get in the way of her dreams, but that's unlikely in the next couple of years, that's for sure. Like, what?
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Wow, very ambitious. She's got it all figured out. Now, boom!
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You know. get sick or something you know you gotta like be
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careful like got it all planned out what is what is the old saying you make plans and
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then god laughs so hey good for her being ambitious but i
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would say too like why does someone want to be a billionaire like i
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mean it sounds like a i don't know i think billionairehood
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comes more out of luck of long-term work
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ethic on doing something effective than a perfect plan
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in the next couple of years based on no experience, really. So
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I would say that her chances of becoming a billionaire in the next couple of years are almost zero,
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Come on! This generation is flippin' delusional. They
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think they can go, I'm gonna be a billionaire. That's why it says, I'm gonna make a million bucks.
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Do you know how flippin' hard it is to make a million dollars in a year? Do you know statistically
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what that is? The average wage is 100 grand a year. Like,
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brain surgeons do 500. Ah, like,
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I think social media has completely cooked people's expectations and bring
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Stop being afraid of spending money. I spent over two million dollars
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last year and I had the best time of my life. Money isn't meant to
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be saved and invested for your future freedom. It's meant to be spent
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on the fancier things in life. Spending money makes you work harder.
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This week I worked 70 hours to pay off my- If you love working
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70 hours a week for the rest of your life, do what he says. But if
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you can create money and buy assets that produce for you, you don't have to
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work. And that's a much better place to be. You want to avoid buying all that stuff early,
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like Lambos and stuff, Laidark is good. It definitely makes you want to work hard, but he's
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This is the hardest I've ever worked in my life and I'm drowning in debt and
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So here's... getting debt and it's motivating him
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to work. So some people are motivated by being in debt and having no
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money. It motivates you because you have no flipping choice. But I like to work
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through, that's called working through desperation. I like to work through inspiration. I've
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got enough money where I don't have to work anymore but I do work that
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I love and I think that's a better place to be because you're going to work for longer and
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better when you love what you do. So I wouldn't do
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that. Just quickly, if you're ready to take control of your finances but feel
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stuck on where to start, I have a solution. My book, Money
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Bias Happiness, simplifies investing and wealth building with
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practical steps to help you achieve financial peace. Get
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your copy via the link in the show notes and let's get your money working for
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The top five most profitable businesses to start in 2025. Or
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if you want to hustle and start one right now, Let's go. Number five, a
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digital agency. A lot of companies outsource their social media
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and their digital advertising. It's more efficient for them to focus on the
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business and have somebody else do it. The global industry revenue for
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2023, $389 billion. Number four, bookkeeping and accounting for
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I wouldn't start an accounting and bookkeeping business in those 25 now
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because AI is just gonna decimate that. Most accounting software like
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QuickBooks and Xero and so forth do a lot of that already. And you can
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offshore it to India and you have to compete with people in
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Because of the gig economy, you have a lot of freelancers. You have
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the opportunity to niche down for the sector. Net profit margin,
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18.4%. Number three, online courses. Now I know people have
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Online courses was pretty good. It's pretty commoditized now.
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So if you're going to sell a course, you're going to get ad traffic on it. And by the time you've got
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ad traffic on it, unless you've got organic audience growth, a
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lot of your margins are eaten away. So you're going to get eyeballs on the course. Most people build
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courses and then they sit there with no traffic on them. So there's a bit more to
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it than that, but it can work if it's a piece of a larger business
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I can't leave it off the list. The majority of your time and investment is
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front-loaded. So you build out your course. Once the course is built, you
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Yeah, but you've got to provide content to your audience so they see you, know you,
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like you, trust you, then buy your course. So it's not passive income. It's
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actually like actively doing. You've got to do it all the time to get people to buy
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Number two, drop shipping. Profit margin is not through the roof if you're sending ad
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Dropshipping is effective if you know the rules of
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business, but most people get into dropshipping and they can't even do a flipping reel.
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They can't even do a Facebook post. So what are you going to do when you get all this product in
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your garage? How are you going to sell it if you don't know any marketing? So dropshipping is
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effective, but you want to make sure you don't select the product you
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want to sell. Go and work it backwards. Find out what's already selling, what people
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are already buying on TikTok, and go find them what's already selling. Go actually find
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a red ocean and create a blue ocean offer for the dropshipping offer
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and you'll definitely sell more but most people just sell what they want to
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sell and they never create the brand you market it someone else manages
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and distributes the inventory they expect a gross for the second yeah but
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then you've got to get ad traffic on it like If you go get a
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product and you don't have people looking at it or seeing it, you're going
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20% by 2028. But with Amazon's current partnership with TikTok, I actually think
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the growth here could be much more significant. And number one is
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e-commerce. I know that's broad. This is any business where your product is
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Most businesses now are e-commerce businesses, and if you're not an e-commerce business now
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in 2025, then you need to get your sh... I mean, you probably don't even exist. I'm
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probably talking to you in the past. But every business is now e-commerce. Like,
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you're gonna have an Instagram account, you're gonna have social media marketing going on. Dropshipping
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is e-commerce. In fact, all these are e-commerces. So, I don't know.
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Yeah, I... I think you've got to mention AI a
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little bit in this now because AI is going to absolutely decimate
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a lot of these types of businesses, like online courses. The first three
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will probably be hit hard by AI. So I agree with some of
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them, but I think there's better ones. Laundromat, let's have a
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Here's the difference between $100,000 investment in stocks versus real
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estate. So let's start with stocks. If you had $100,000, typically
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investors see anywhere between 8-12% when putting their money
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in the market. After 10 years, your money would have compounded up to $215,000 all
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the way to $310,000. Now
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for real estate, if you use leverage and use the $100,000 to buy multiple
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properties, you can buy five properties that are each $100,000 and put
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You can't just go and buy five properties with that amount of money because it's
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dictated by your serviceability with the bank loans. And that's what people don't realize.
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And then, what they don't realize, and this is usually a rule done by young people, they've
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never actually experienced a real estate collapse before. So they have no idea
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what that's like. And I saw people in 2008 who had five properties have
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zero. So you've got to be careful you don't lever up like this. This is too much leverage
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on the equity portion of the assets. And you can't just like
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cookie cut all these houses because the bank will say, no, no, we can't lend you any
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more money. So that's not as easy as what you think. Then you've got to manage five properties
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and five flipping tenants, five different insurances and five. It's not easy.
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You're putting $20,000 in each property. And that also means
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that you have $500,000 in controlled assets. And if each
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of those $100,000 rental properties are making $250 per month
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in that cashflow, that means you're gonna see a total of $1,250 per
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Yes, that's very true if they do, because you're gonna have tenants come and go. You'll
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have different things to manage. People may do a runner. They
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may not pay rent. You have to get the sheriff in, get them out. There's more to it than just like
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It's not as easy as what you... And if you assume a 3% appreciation after
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10 years, You'll be able to see about $150,000 in net cash flow. And
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with a 3% appreciation, you'll have about $270,000 in equity. And
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Yes, but it's gonna take you a lot longer than that to accumulate those because you're gonna
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come up with a deposit all the time. It looks good on paper, sounds good on
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paper. In theory, the leverage is absolutely correct. You can gain
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more by leverage. But what he's not factoring into this is what happens if
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real estate goes down? Then you're amplifying your losses too. And that's not taken
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into consideration here. Nor is it in with the stocks, but No,
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He's got
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Well, good luck to him. Might see another reel with him living on the street. When
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Dogecoin goes to zero, he might have gotten out of it by now. He's
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speculating, he's gambling, this guy. You would never put 300,000 in
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any crypto, let alone, unless he's worth maybe like three or four million,
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in which case he can play around with that. But Dogecoin? Man, he's speculating. The
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problem with this is a lot of young people are getting trained to
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speculate because they're in a big bull market. They've
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never experienced a big, serious recession before, and that's going to come back and
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haunt them when they need the fiat currency to live. They're going to want it.
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Everyone's going to sell at the same time. It's going to bid it to zero. It's a hot potato. Not going
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here we go all right let's get a big reaction here people are like oh well you
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can make 10 on your real estate every single year i can do
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that with bitcoin i can just sell it the next day oh yeah but you have a place to
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live yep i just rent it and i don't own any of the liabilities oh why don't
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you own a yacht why would i just rent it when i need it how many times i've been on
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I disagree with the Bitcoin part, but I agree with renting stuff, like renting
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a house, yes. Renting a yacht, yes. We rent a yacht most years. It's
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just easier than owning for many other reasons. Most people buy it
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for status, not because it's more functional, because you got to clean it, maintain it,
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15 times doesn't justify me spending $5 million to buy one to fit in with
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everything. No, it's bullshit. It's all about freedom. It's the freedom game, guys. If you have too
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It's not just freedom of the money, it's
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actually freedom of decision making. So like when you own a yacht or
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you own this many cars or this many properties or whatever, they all take
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up a little bit of space in your head and nothing lives in your head rent free, which means
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you'll get decision fatigue thinking about all the things that you own, you'll
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The confidence comes in yourself. It's about not adding this baggage
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You don't need... You come into this world with nothing, you leave with nothing. My dad says you're
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just a caretaker of things, so why would you want to own more things? They're not
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Any of these things, you just need to be able to do whatever you want, whenever you want,
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Freedom of choice to move around, do the things you want to do is far more
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valuable and wealthier than owning things and stuff. Owning things and
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stuff is more of a new thing. It's the old way of showing status, but
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status now is freedom and time, becoming time rich, which is why my
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no more federal income tax, and
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$8,000 back for every man, woman, and child inside the United States. This
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is what we're talking about as a possibility today. Now, neither of these are 100% confirmed,
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So what's happening is, Elon and Trump are going in and figuring out
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a lot of wasted money from taxpayers is going to the wrong things. Totally
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wasted, absolute corruption. And what they've decided is they're probably going
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to give back a big tax refund to the Americans who deserve it because it's
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their money. Your tax money is your money. They'll give it to the wrong people and they
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On the table. So first off, let's talk about income tax. How much
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more money would you have back if you had no federal income
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The way they're going to abolish the federal income tax is to create income from
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tariffs. They're going to change the IRS, the Internal Revenue Service, to the
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ERS, the External Revenue Service. They're going to get money off other countries for doing business
20:10
with the United States so the federal income tax can be abolished and you
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How much would that help you throughout the year? I know that would help my family
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substantially, but to top that off, Elon Musk
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said that doge, the department of government efficiency has found
20:26
so much wasteful spending over $2 trillion that Americans
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So they're giving the money back because it
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was poorly spent on bad things, corruption, wasted
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things, which is great. And if you look back to the early 1900s
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before World War II, there was no income tax.
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Certainly before World War I there was no income tax. Income tax is a
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recent phenomena. The problem with so much of it is the governments that
20:52
are in charge didn't earn it, it's not theirs, but they're in charge of spending it,
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in which case they spend it poorly. So you're going to see a lot of this rain
20:59
back in all governments because for the last 10, 15, 20 years, it's
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been dramatically wasted. And so that's a wonderful thing. That's
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great. That's wonderful, wonderful management. That's financial management
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How do you ask my husband to be able to kind of be a stay-home mom?
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I don't really feel like I want
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to go back to work. I feel like I really want to spend time raising our
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Husband makes $975,000 a year and won't let his wife
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What a great goal. So, does he make enough
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Oh, like $975,000. $975,000 a year? Yeah.
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Dave Ramsey's like, okay, I think you could probably freaking struggle
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It's not so much the finances as
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it is, I think he has a worry that I'll never go back to
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You don't need to go back to work. If you're making $175,000, you don't ever
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Like, I don't know. I think because his mom work
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Oh God, he's suffering from a mindset problem here. Like
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just because his mom had to work three jobs, what the hell is the point? What's the
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point of having $975,000 and building wealth if you're just going to repeat the
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previous generation's need to work three jobs? The whole idea of money
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and freedom is not to have to work. That's the leisure class. That's
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the objective. Your reward for
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Okay, here's the deal. Sharon Ramsey went
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home to be a full-time mom when our first daughter was born 34 years
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I couldn't imagine raising a family where both
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had to work. I see that in couples that have to do that to make ends
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meet. It just seems challenging.
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The whole idea of building wealth is so you don't have to do the things you don't have to do or
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don't want to do. As soon as my sister was born, my mom stopped working and lived at
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home. She raised four kids. My dad
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knew he would go win the bread. My mom would look up. That's the way it's supposed to be. That's
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why she raised such good kids. You
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know, not everyone can have that, but I think if you can, obviously, you do
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it. All right, so I hope you enjoyed those reactions. They were fun, huh?
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Some really cool ones in there. I agree and disagree with a lot of that stuff, but yeah,
23:27
hope you learned something from that. If you want me to review something, send it over
23:30
and I'll do a reaction to it just for you. So shoot it over and we'll have some
23:33
fun together. Thanks for listening to Money Grows on Trees. If you enjoyed the
23:37
episode, leave a five-star review on Apple Podcasts and Spotify
23:41
and subscribe to us on YouTube so you never miss an episode. And
23:44
if you're serious about building wealth, make sure to check out the links in the show
23:47
notes and follow me on all social media platforms, at