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How Money Really Works || Masterminds Special EP41 · Masterminds Podcast

• 0:00
  SPEAKER_06: Welcome to the Masterminds Podcast, the transformational journey that sharpens your most powerful tool, your mind.
• 0:07
  SPEAKER_06: My name is Richie Menta, and I'm going to be your tour guide on this amazing path.
• 0:12
  SPEAKER_06: As we push into 2026, let's go over some of the key lessons we learned from the money experts on Masterminds.
• 0:20
  SPEAKER_06: So that this year is a year of financial victory.
• 0:26
  SPEAKER_06: What's the first thing you feel someone needs to understand on their path to financial literacy?
• 0:32
  SPEAKER_01: So one thing that you need to understand is that it's a journey.
• 0:36
  SPEAKER_06: Okay.
• 0:36
  SPEAKER_01: It's not something that is going to happen over the average millionaire is 49 years old.
• 0:41
  SPEAKER_01: So if you are less than 49 years old and you are not a millionaire yet, it means that there's still a journey.
• 0:46
  SPEAKER_01: So it there's a path that you have to follow.
• 0:49
  SPEAKER_01: It is a process that you have to take.
• 0:51
  SPEAKER_01: So I always tell people that I actually wrote a book about it.
• 0:54
  SPEAKER_01: I said if you have nothing, you have to find a job.
• 0:57
  SPEAKER_01: Okay.
• 0:58
  SPEAKER_01: Because it's very hard to overnight, you just uh you know start a business and it blows.
• 1:02
  SPEAKER_01: Some people are lucky, they start a business and it does really well.
• 1:06
  SPEAKER_01: But for most people, you have to start somewhere.
• 1:09
  SPEAKER_01: That means that you have to get a job, study, know the ins and outs of you know, see what other people are doing, try to get some savings on the side, then you can start something else for yourself.
• 1:21
  SPEAKER_01: So, but if you already have a job, then you have to think of starting a business.
• 1:25
  SPEAKER_01: If you already have a business, then you can think of automating that business, and that means that be in a position where you are able to make the business function on its own without you.
• 1:34
  SPEAKER_01: Yeah, if you are somebody who's already automated your business, then you have to learn about investing.
• 1:39
  SPEAKER_01: Because naturally, if you have a business that is bringing money on its own, you have to learn to invest this money, right?
• 1:46
  SPEAKER_01: Or you have to learn to create a personal brand, which I believe this is what we are doing right now.
• 1:51
  SPEAKER_01: Hello.
• 1:52
  SPEAKER_01: So depending on where you find yourself.
• 1:53
  SPEAKER_01: So I've written a book about this called The Web GPS, where I say depending on where you find yourself, because the the journey is not the same for everyone.
• 2:00
  SPEAKER_01: Yeah.
• 2:01
  SPEAKER_01: So for me to be able to advise you, I need to know exactly where you find yourself.
• 2:05
  SPEAKER_01: Are you somebody who have like you have access to absolutely nothing?
• 2:08
  SPEAKER_01: I could tell you to go start a business, but it's going to be hard.
• 2:10
  SPEAKER_01: First of all, you need capital, you need experience and everything.
• 2:14
  SPEAKER_01: So you have to start somewhere.
• 2:15
  SPEAKER_01: That is why I don't say a lot of people say you don't need to get a job.
• 2:18
  SPEAKER_01: I believe that a job is important, but it's like a stepping stone.
• 2:23
  SPEAKER_01: It's a place that you start, but you don't stay there.
• 2:25
  SPEAKER_04: Yeah.
• 2:26
  SPEAKER_01: You understand?
• 2:27
  SPEAKER_01: You are learning on the job, you are going forward, and you know, eventually.
• 2:31
  SPEAKER_01: Because the ultimate that you should get to is to be in a place in a place where you are an investor.
• 2:36
  SPEAKER_06: Okay.
• 2:37
  SPEAKER_06: Personally, what does wealth mean to you?
• 2:40
  SPEAKER_03: Well, uh, for me, it's no matter how how high you want to look at it or how deep the concept of wealth should be.
• 2:49
  SPEAKER_03: First, you need to have provision.
• 2:51
  SPEAKER_05: Okay.
• 2:51
  SPEAKER_03: Because actually, what God did to Adam and Eve was provision first before you put the people in there.
• 2:57
  SPEAKER_03: So, wealth really, you must have the provision first.
• 3:00
  SPEAKER_03: Okay.
• 3:00
  SPEAKER_03: You need to have the finance.
• 3:02
  SPEAKER_03: From that, then you build other things that will help sustain it for the long term.
• 3:07
  SPEAKER_03: And I'm speaking generation over generation.
• 3:09
  SPEAKER_03: And again, I'll take my example from the Bible.
• 3:11
  SPEAKER_03: It says that a good man built for his children's children.
• 3:14
  SPEAKER_03: Right.
• 3:15
  SPEAKER_03: So that gives us the understanding of what wealth really is.
• 3:18
  SPEAKER_06: Like um, I heard something powerful that the amount of money you have is equivalent to your financial knowledge.
• 3:26
  SPEAKER_06: So when you get money higher than your financial knowledge, it will drop back to the level of your financial knowledge.
• 3:34
  SPEAKER_06: And then you'll maintain.
• 3:35
  SPEAKER_06: So if your wisdom in money is 10,000, if you get one million, you will spend 990,000 before realizing.
• 3:47
  SPEAKER_00: If you look at your finances, you reflect your financial education.
• 3:51
  SPEAKER_00: Yeah.
• 3:51
  SPEAKER_00: If your business is in debt, you can pay, you owe a lot of people, you are dodging, you are lying.
• 3:56
  SPEAKER_00: Forget about your certificate in finance.
• 4:00
  SPEAKER_00: Because the knowledge you have must transform you.
• 4:02
  SPEAKER_00: Yeah.
• 4:03
  SPEAKER_00: You know, the resource is the rare proof of education.
• 4:05
  SPEAKER_00: Yeah.
• 4:06
  SPEAKER_00: So if you give a child to a cappinter, the reason he will tell you it's a capitalist is because he can make a change.
• 4:12
  SPEAKER_06: Yeah.
• 4:12
  SPEAKER_00: The mechanic who is working on your engine, if he can't fix it, is it a mechanic?
• 4:15
  SPEAKER_06: No, it's not a mechanic.
• 4:16
  SPEAKER_00: If you have nothing to prove and you are you are in debt, everything around you is chaotic financially.
• 4:22
  SPEAKER_00: You can tell us that you understand money.
• 4:23
  SPEAKER_00: You should be able to organize your your your finances, your income.
• 4:27
  SPEAKER_00: You should be able to have us uh tell us how much you're able to keep, yeah, where you put that money, how much is working for you.
• 4:33
  SPEAKER_00: Can you even leave off your salary?
• 4:35
  SPEAKER_00: Thank you.
• 4:35
  SPEAKER_00: If you work in a bank and you say that you're a financial expert, how many months can you say that I don't need salary and I can still move because I've been able to structure things and say that money brings me money.
• 4:45
  SPEAKER_00: If you are not that, don't call yourself a financial expert.
• 4:47
  SPEAKER_00: Yeah.
• 4:48
  SPEAKER_00: No, because it must change you.
• 4:50
  SPEAKER_01: There's a a book called The Science of Uh Getting Rich that says that, in fact, for people to become rich, they have to obsess with where they are going to, not where they are.
• 5:02
  SPEAKER_01: So if you are thinking that that you want to become a rich person, you have to be thinking of the journey where you want to be, instead of feeling sorry all the time saying I'm poor, you are talking of poverty because that's what you are attracting in your life.
• 5:14
  SPEAKER_01: So people have to write down their goals, set the destination, the destination, obsessed with the destination instead of that's why in 2017, when I made the the video that went viral, I kept saying that I am going to become a millionaire, I am going to learn how to make money, and I'm going to teach other people.
• 5:31
  SPEAKER_01: Yeah.
• 5:31
  SPEAKER_01: Today that is the reality that I'm living.
• 5:33
  SPEAKER_01: Of course, I've not arrived at my destination, but I'm working on it.
• 5:36
  SPEAKER_06: But you are on the journey.
• 5:37
  SPEAKER_06: I like that.
• 5:38
  SPEAKER_06: Exactly.
• 5:38
  SPEAKER_06: So, in general, how would you say that like mindset actually influences world building?
• 5:44
  SPEAKER_03: The way, first of all, your values about money, how you saw your parents um approach their finances when they were growing up, that impacts you when you grow up.
• 5:53
  SPEAKER_04: Yeah.
• 5:54
  SPEAKER_03: Um and then also where you want to go in the future, the sort of targets that you've set for yourself.
• 6:01
  SPEAKER_03: This helps build the mind that you need to be able to keep the finance that you have.
• 6:06
  SPEAKER_03: Yeah.
• 6:07
  SPEAKER_03: I definitely do think the other thing as well is a circle that you keep.
• 6:10
  SPEAKER_03: I don't have friends who go on shopping spree.
• 6:13
  SPEAKER_03: I don't have people that go on funny holidays just to go and you know chill with girls or um drink alcohol.
• 6:19
  SPEAKER_03: I don't even drink alcohol.
• 6:21
  SPEAKER_03: Right.
• 6:21
  SPEAKER_03: So a lot of the things I spend my money on is a lot of the time wristwatches and trainers.
• 6:27
  SPEAKER_03: A lot of the time, and maybe a lot more white t-shirts, and then a beautiful holiday for the family.
• 6:32
  SPEAKER_03: You know, I try to focus my life on what I need now.
• 6:37
  SPEAKER_03: In the past one and a half years, I've probably spent more money on my podcast than I have on myself and my family.
• 6:44
  SPEAKER_03: Because I think that that is what is going to impact more people and then build a community of giants in the society.
• 6:52
  SPEAKER_03: Because I need 50,000 young men and women that think the way I do, or even better than I do.
• 6:57
  SPEAKER_00: Financial information.
• 6:58
  SPEAKER_00: You need that.
• 6:59
  SPEAKER_00: I mean, if you complete university or engineering or you're a mechanic, and you come out and you think you understand money, look at the people who taught you if they understood money.
• 7:10
  SPEAKER_00: So that means that if you come from a background that your parents didn't have any money, your grandparents didn't have any money, and you your only source of information is from school and probably um a religious center, um, your knowledge or money will not cut it.
• 7:25
  SPEAKER_00: And that's why you understand that once you come out of school, get a job, you know.
• 7:29
  SPEAKER_00: So um I think you must get different knowledge if you want to really uh uh uh handle money in life.
• 7:36
  SPEAKER_00: And in this life, I think many of us are solving two problems, they say money problems and all the other problems to put together.
• 7:42
  SPEAKER_00: And if you're able to solve the money problems, it helps with all the other problems.
• 7:45
  SPEAKER_06: You can solve a lot of the other ones easily, you know, yeah, and it almost feels like we've accepted here, we've wrongly accepted here that we aren't worth anything.
• 7:55
  SPEAKER_06: Yeah, so we can understand how Elon Musk can make so much money, how Jeff Bezos can make so much money.
• 8:02
  SPEAKER_06: But if it's a Ghanaian or it's a Nigerian, then it must either be illegal or through juju or through do you get me?
• 8:09
  SPEAKER_06: We we don't want to understand that we are capable of as much or even more.
• 8:16
  SPEAKER_06: And one thing I find that to happen is that it means that anytime you think about making money, you are clashing with your moral.
• 8:23
  SPEAKER_03: Absolutely, absolutely, and you know, I understand that the people that have controlled the narrative for a very long time are such people, such people as those that you classify as juju money, um fraud boys, uh what not, whatever description you have for them, or your popular and your most famous um, you know, Instagram celebrities, these are the people that have controlled the narrative for a very long time.
• 8:50
  SPEAKER_03: So people like us, it's not cool like that.
• 8:54
  SPEAKER_03: So the message is really simple.
• 8:56
  SPEAKER_03: By by virtue of compounding, if you learn to make a thousand CDs every single month, every single month, by the time you get to the fifth year, it will not be a thousand cds anymore.
• 9:08
  SPEAKER_03: It should be, as a matter of fact, it should be about 50k to 100k a month.
• 9:12
  SPEAKER_03: Yeah, if you learned enough, and that route is what we are discussing here, and that's it's available to everybody, it's as sure as going to school and getting a paid job.
• 9:22
  SPEAKER_03: Sure.
• 9:23
  SPEAKER_01: A lot of people don't understand that money is a tool, right?
• 9:28
  SPEAKER_01: It's not the end goal, it's not the end goal.
• 9:31
  SPEAKER_01: So money is a tool.
• 9:32
  SPEAKER_01: You are trying to find money for it to send it on it or you know, to do on an errand.
• 9:38
  SPEAKER_01: So every single time that you make money, the question you have to ask is that can I minimum what is the minimum of my wants that I can satisfy?
• 9:47
  SPEAKER_01: And the rest of it should go out to bring more money.
• 9:51
  SPEAKER_01: Every single CD dollar, whatever comes in your packet has to be sent on an errand.
• 9:56
  SPEAKER_01: And as human beings, we have wants, we have things that we want all the time.
• 10:02
  SPEAKER_01: But most of the things that we want, most of the time, some of them we want them out of pain, and some of them it's just sheer luxury.
• 10:10
  SPEAKER_01: So you, as the individual, you have to understand what are the things that I want in my life that I want from a place of pain.
• 10:17
  SPEAKER_01: A place of pain would be to say maybe you are sick, maybe you you can't you don't have money to buy food, you know.
• 10:23
  SPEAKER_01: Those things that if you don't have, it's like you have to cry.
• 10:26
  SPEAKER_01: Yeah.
• 10:27
  SPEAKER_01: But most of the things you have to upgrade your phone, you need to upgrade, you know, your car, you need to upgrade all of those things.
• 10:32
  SPEAKER_01: They are simple luxuries.
• 10:33
  SPEAKER_01: Yeah.
• 10:34
  SPEAKER_01: So a lot of people need to understand that when money comes in, when you use it to solve the pain, the rest of it should go to bring in more money.
• 10:43
  SPEAKER_06: How have you managed to stay away from the temptation of the flashy lifestyle?
• 10:48
  SPEAKER_06: Like, I love the fact that every time I see you, you are in a plain white tea.
• 10:52
  SPEAKER_06: When I know you can afford, you know, yeah, the most expensive outfits.
• 10:57
  SPEAKER_06: How do you manage to stay away?
• 10:58
  SPEAKER_03: So, um, I think a lot of entrepreneurs would know this.
• 11:02
  SPEAKER_03: If you've ever lost money before, and I mean, there are two ways you learn to protect where you are coming from, your background, when I check how difficult it was to get to where I am today, to even be able to afford a rest watch.
• 11:19
  SPEAKER_03: And then also when you've had a certain level of success and then you lose it, yeah.
• 11:24
  SPEAKER_03: If these two examples do not help you to keep what you have and be hard with it, that's the reason why sometimes they say it's a sika formating.
• 11:34
  SPEAKER_03: Because if you if you end up going on a shopping spree all the time, you'll no longer be called Sigani.
• 11:40
  SPEAKER_03: Yeah, and the reason why you appreciate the fact that the money that that man has got money is because he knows how to keep money.
• 11:45
  SPEAKER_03: Yeah, the way I've done it is very simple.
• 11:48
  SPEAKER_03: Always coming back to the balance zone.
• 11:50
  SPEAKER_03: My I don't play with my pranayama, the breath control.
• 11:54
  SPEAKER_06: Okay.
• 11:54
  SPEAKER_03: Pranayama, please explain that breath, breath, breath, the power of the breath.
• 11:58
  SPEAKER_03: Okay, it's it's anytime you are faced with a decision making, taking deep breath and hold it for a bit and release slowly.
• 12:08
  SPEAKER_03: You begin to start thinking differently.
• 12:10
  SPEAKER_03: Okay, and the next thing I do is let me sleep on it.
• 12:13
  SPEAKER_03: You would always wake up with a different thought than what you think.
• 12:17
  SPEAKER_06: I have a big decision to make tonight.
• 12:19
  SPEAKER_06: I'm going to try it.
• 12:21
  SPEAKER_03: You would always wake up with a different decision than you thought.
• 12:25
  SPEAKER_00: So your first hundred thousand, your first two hundred thousand, your first five hundred thousand, use a little portion.
• 12:30
  SPEAKER_00: Based if you if your parents have money and they pay for you, fantastic.
• 12:33
  SPEAKER_06: That's different.
• 12:34
  SPEAKER_00: But if you are gathering this money, invest it, put it in something that will make the money work, then you can have a very fantastic family life because you don't worry about money.
• 12:44
  SPEAKER_00: You know, but if you're constantly crying and people are knocking on your door because you owe, you have created chaos.
• 12:49
  SPEAKER_00: You have created chaos, and that should not be it.
• 12:51
  SPEAKER_00: It means that you're financially not intelligent.
• 12:54
  SPEAKER_06: As we're talking about what to spend money on, I want you to join this argument.
• 12:57
  SPEAKER_06: There's an ongoing argument in the finance industry in every country.
• 13:02
  SPEAKER_06: Should you buy a house to live in?
• 13:04
  SPEAKER_06: Is that a smart financial decision for someone who is now making money?
• 13:08
  SPEAKER_00: I want to make money, make money for me.
• 13:11
  SPEAKER_00: All the rich people I see, they constantly have money come to them every day.
• 13:15
  SPEAKER_00: If your mobile money is not receiving money every day, if your bank account is not receiving money every week, every month, and you only wait for at the end of the month, how many people are paid a million a month?
• 13:25
  SPEAKER_00: So many people who are struggling is because they wait for one source of income in the whole month.
• 13:30
  SPEAKER_00: Yeah, meanwhile, when you get up in the morning, you buy water for everything every day.
• 13:34
  SPEAKER_00: Multiple ways that the money is moving out of your hand, and you only have one way, and that one way is not even big enough.
• 13:40
  SPEAKER_00: This is no magic.
• 13:41
  SPEAKER_00: That's why you're struggling financial.
• 13:42
  SPEAKER_06: So they have multiple streams of income everywhere, but they don't have multiple streams of income.
• 13:46
  SPEAKER_00: That's it, and that's why the market women have money because they constantly see money.
• 13:50
  SPEAKER_00: You see, contractor is struggling.
• 13:52
  SPEAKER_00: The contractor has one million, but the government will take pay him first time.
• 13:57
  SPEAKER_00: Contractor cannot pay his salary, but the woman who is seeing money every day, so money working for you means that the money brings you returns constantly.
• 14:05
  SPEAKER_00: And those who are rich and those who struggle, look at any rich man that you see.
• 14:09
  SPEAKER_00: There's a business there are there are investments that are bringing money every day.
• 14:12
  SPEAKER_00: So they count money every day.
• 14:14
  SPEAKER_00: That's why they are rich.
• 14:15
  SPEAKER_00: And so I'm not looking at building a house to live in when that house is not bringing me money.
• 14:18
  SPEAKER_00: I'm not saving myself into wealth.
• 14:21
  SPEAKER_05: Yeah.
• 14:21
  SPEAKER_00: No, I want to build something.
• 14:23
  SPEAKER_00: If I have to rent a single room and start to have investment, cocoa farm, business, uh, maybe Uber, something, motor, uh setup that is bringing me money, and I have about 10, 20 of them.
• 14:34
  SPEAKER_00: If I'm building a house, it doesn't take much.
• 14:37
  SPEAKER_00: Why should I struggle to build two-bedroom house?
• 14:39
  SPEAKER_00: You shouldn't.
• 14:40
  SPEAKER_00: I've never seen any wealthy person who struggles to build multiple streets of income.
• 14:44
  SPEAKER_03: That if you are starting early enough, it is good because that helps you to build the skills.
• 14:49
  SPEAKER_03: Yeah.
• 14:49
  SPEAKER_03: You know, you learn money management from there, right?
• 14:52
  SPEAKER_03: You learn how to keep yourself, how to set yourself properly, and then keep some money, learn savings and all of that.
• 15:01
  SPEAKER_03: At a higher level, it's not, it doesn't really become multiple streams of income.
• 15:06
  SPEAKER_03: What it has become is learning how to do one thing properly and doubling up on that thing.
• 15:12
  SPEAKER_03: Then when you get deeper, you branch out into different industries.
• 15:16
  SPEAKER_03: Okay.
• 15:16
  SPEAKER_03: So there's like a there's like a beginning, beginning, and then there's the mid where you need to really hone in on what is working and then double up.
• 15:25
  SPEAKER_03: And then at the next level is when you need multiple industries.
• 15:29
  SPEAKER_03: Now, the reason you need multiple industries, and I mean you can have a business in pharmaceuticals, you can have oil and gas, you can have manufacturing, agriculture.
• 15:38
  SPEAKER_03: The reason you need it that is that look, government policy uh policy, government policies can affect businesses at a higher level.
• 15:46
  SPEAKER_03: Yeah, and sometimes it can crash down maybe the huge tariffs on pharmaceuticals.
• 15:53
  SPEAKER_03: You don't want to go home crying.
• 15:54
  SPEAKER_03: Your oil and gas business will save you at that point, your farming may save you at that point.
• 16:00
  SPEAKER_03: So that's why at a higher level you need multiple industries.
• 16:03
  SPEAKER_03: Not that you don't call it multiple streams of income, it's just industries just so that you go you don't go back to ground zero.
• 16:10
  SPEAKER_01: Yeah, getting rich starts from the moon from the very moment where uh your income is equal to your expenses.
• 16:20
  SPEAKER_01: It is from that moment that getting rich starts.
• 16:22
  SPEAKER_01: Okay, because before then, if you are still in a place where you have money problems, then you cannot be financially uh free.
• 16:30
  SPEAKER_01: So financial freedom starts from the place where uh your income has just exceeded your expenses.
• 16:39
  SPEAKER_01: Okay, so I always tell people to look at the uh the aspect of income, forget the definition of financial literacy, it's going to be become very difficult for you.
• 16:47
  SPEAKER_01: Track one thing look at your income, that is the difference between the money that comes in your pocket and the money that goes out.
• 16:55
  SPEAKER_01: Okay, and I tell people you have to write this down.
• 16:58
  SPEAKER_01: That means take a book, right?
• 17:00
  SPEAKER_01: Now a computer, you know, create something where everything that gets out of your pocket every single month you put at one side.
• 17:07
  SPEAKER_01: Everything that comes in your pocket every single month you put at one side.
• 17:10
  SPEAKER_01: Your aim is to increase this and decrease this.
• 17:14
  SPEAKER_03: But what we don't understand is that to really be able to keep the level of success that you have is to cut down on your expense to maintain this.
• 17:21
  SPEAKER_03: Yeah.
• 17:22
  SPEAKER_03: If you, I usually say what people don't, 90% of people, their problem is not more money, it's less expenses.
• 17:28
  SPEAKER_03: Less expense.
• 17:29
  SPEAKER_03: If you learn to cut down your expense, you can actually learn to make more because to have more is in maintenance.
• 17:38
  SPEAKER_03: If you can maintain, you can have more.
• 17:39
  SPEAKER_03: If you can't maintain, even more comes, you lose it.
• 17:41
  SPEAKER_00: Yeah, you see, one of the marks of people who are able to pick themselves from nothing and do well in life is they are down to it.
• 17:49
  SPEAKER_00: Yeah, they have the spirit to learn.
• 17:51
  SPEAKER_00: Yeah, they listen, they humble themselves.
• 17:53
  SPEAKER_00: That's right.
• 17:53
  SPEAKER_00: They listen, they pick, they're always looking for something.
• 17:56
  SPEAKER_00: What did you say?
• 17:56
  SPEAKER_00: What can I do?
• 17:57
  SPEAKER_00: Yeah, they are not combative and they are not arguing.
• 18:00
  SPEAKER_00: You know, when you are poor and you are still arguing, you struggle.
• 18:04
  SPEAKER_00: You are poor, yes.
• 18:05
  SPEAKER_00: You should be quiet and because if you knew it, you can't.
• 18:08
  SPEAKER_00: You probably have to show in your life.
• 18:09
  SPEAKER_00: Yeah, but do you believe that somebody is lucky, that's why they have something, and you are unfortunate, that's why you don't have anything.
• 18:15
  SPEAKER_00: Instead of you to say that maybe I don't know something, that's why I'm here.
• 18:19
  SPEAKER_00: And if I'm able to know something and put it into practice, maybe I will change my my life.
• 18:23
  SPEAKER_00: And I think it's it's it's it's wisdom that those who are able to do well in life uh have.
• 18:28
  SPEAKER_06: The funniest thing that I see all the time is maybe somebody will come to me for advice, and then you're advising them and then they're arguing.
• 18:35
  SPEAKER_00: Why did you come in?
• 18:36
  SPEAKER_00: How did you come?
• 18:39
  SPEAKER_06: What are you doing if you knew it already?
• 18:43
  SPEAKER_00: Yeah, you see, there's a way poor people think, yeah, and there's a way the people who have been able to cross that line also think.
• 18:48
  SPEAKER_00: Yeah, yeah.
• 18:51
  SPEAKER_06: Sadly, I don't know if people even understand how treasury bills work.
• 18:54
  SPEAKER_06: Maybe let me let me today.
• 18:55
  SPEAKER_06: I'm releasing keys, guys.
• 18:57
  SPEAKER_06: Don't block this video because of the things I'm saying, okay?
• 18:59
  SPEAKER_06: It's valuable.
• 19:01
  SPEAKER_06: Most people don't know that when it comes to treasury bills, what the bank does is that the bank takes all your money, right?
• 19:08
  SPEAKER_06: And then they use your money, which is now a very big amount, to go and negotiate better percentages with the government.
• 19:17
  SPEAKER_06: So let's say if Treasury bill current rate is like 11%, they know if you take 10,000 to go and do treasury bills, the maximum you're getting is that 11%.
• 19:27
  SPEAKER_06: But they will collect everybody's money so that now they are taking 100 million to the government.
• 19:32
  SPEAKER_06: Then they'll tell the government that because it's 100 million, give us 16%.
• 19:37
  SPEAKER_06: That's right.
• 19:37
  SPEAKER_06: So when they take the 16%, they will now come and give you your 11%, and they just made an extra 5% from your money.
• 19:45
  SPEAKER_06: Yeah.
• 19:46
  SPEAKER_03: So if you're young enough, you know, in your 20s, learn prompt engineering.
• 19:50
  SPEAKER_03: Now, prompt engineering is pretty simple.
• 19:52
  SPEAKER_03: How do I speak to AI systems in an accurate language that gives me the answers that I want?
• 19:59
  SPEAKER_03: Industries are gonna start employing people simply to be able to speak to AI systems and generate information from AI systems.
• 20:05
  SPEAKER_03: So learn prompt engineering as a skill, learn how to use AI systems to create videos, images, logos, all these things.
• 20:15
  SPEAKER_03: Learn them, learn how to create content and monetize content.
• 20:19
  SPEAKER_03: Listen, and I don't want to hear, you know, I don't I'm shy, I don't want to sit in front of the camera.
• 20:26
  SPEAKER_03: This is not for you, but do that because content and community is the next big gold rush.
• 20:33
  SPEAKER_03: Yeah, content and community do that, start building content today.
• 20:40
  SPEAKER_03: Now, on the path of I'm trying to be a businessman, everything you are learning, you can feed that back to the internet system.
• 20:48
  SPEAKER_03: So, hi guys, I've just set myself on a journey of entrepreneurship.
• 20:53
  SPEAKER_03: And today I'm reading a book by Robert Kiyosaki, Rich Dad, Poor Dad, and he spoke about this and that.
• 21:00
  SPEAKER_03: I think it will benefit you too.
• 21:02
  SPEAKER_03: You guys should read it, it's helpful.
• 21:03
  SPEAKER_03: That's beautiful.
• 21:05
  SPEAKER_03: Tomorrow, come and tell us what you've learned on the journey.
• 21:07
  SPEAKER_03: Just keep doing that because while you're doing that, you are taking people on your journey of self-improvement and your entrepreneurship.
• 21:14
  SPEAKER_03: At some point, the business you really want to do, you would have acquired enough cash flow from all of this to be able to do that.
• 21:21
  SPEAKER_03: Because what you need is skills, skills, skills, then cash to do what you want to do.
• 21:26
  SPEAKER_03: Okay.
• 21:27
  SPEAKER_06: How can somebody build wealth slowly over time?
• 21:31
  SPEAKER_01: Slowly over time.
• 21:33
  SPEAKER_01: It's uh I always get back to the world of GPS.
• 21:35
  SPEAKER_01: Okay.
• 21:36
  SPEAKER_01: The world of GPS is that you get a job, you start a business.
• 21:41
  SPEAKER_01: Once you start a business, then you start investing.
• 21:44
  SPEAKER_01: That means you try to automate that business, you bring on a lot of people because in the beginning, you are doing things.
• 21:50
  SPEAKER_01: But as you start, you don't keep doing those things.
• 21:52
  SPEAKER_01: You bring somebody, you give a job to someone, another person you give to someone, so other people join you.
• 21:58
  SPEAKER_01: So you have a team.
• 22:00
  SPEAKER_01: Working with you, and then now you start making more money than you can afford to spend.
• 22:05
  SPEAKER_01: So it is this money that you have to have a strategy.
• 22:08
  SPEAKER_01: Because every single thing that you do in this life, you do it with a strategy.
• 22:12
  SPEAKER_01: That's why I call myself a wealth strategist.
• 22:14
  SPEAKER_01: Because I understand strategy is more important.
• 22:17
  SPEAKER_01: When you eat food, it's like you take the food you put your strategy.
• 22:20
  SPEAKER_01: Yeah.
• 22:20
  SPEAKER_01: Every single thing is like you always do, you don't every time come in front of food, you don't know what to do with it.
• 22:25
  SPEAKER_01: It's like actually, no, you have a strategy.
• 22:26
  SPEAKER_01: You just take it in.
• 22:27
  SPEAKER_01: So you have to have even an investment strategy.
• 22:30
  SPEAKER_01: Okay.
• 22:31
  SPEAKER_01: Which is that I am going to start a business.
• 22:34
  SPEAKER_01: When my money comes, at the end of the month, this is what I uh I'm going to do.
• 22:38
  SPEAKER_01: Asset diversification.
• 22:39
  SPEAKER_01: That means identify things that have a track record.
• 22:43
  SPEAKER_01: There's a concept uh in in uh anti-fragile, a book called Anti-Fragile, where it says that, and this is how to identify the kind of things that you have to put your money in.
• 22:54
  SPEAKER_01: That most things, if something has been around for 10 years, you can expect it to be around for the next 10 years.
• 23:01
  SPEAKER_01: Okay.
• 23:01
  SPEAKER_01: If it's been around for a day, you can expect its lifespan to be a day.
• 23:05
  SPEAKER_01: If something has been around for 100 years, you can expect its lifespan to be a hundred years, and they've measured it, and it's almost always true.
• 23:12
  SPEAKER_01: Okay.
• 23:12
  SPEAKER_01: So if you want to do a safe bet, you have to bet on something that has had you know a track record of being around being around and has you know actually made people money.
• 23:25
  SPEAKER_01: So you can identify these investments and then you can spread your money.
• 23:29
  SPEAKER_01: So as you are making money in your business, you are still growing your business.
• 23:33
  SPEAKER_01: Okay, at the same time, you are investing in all of these vehicles.
• 23:37
  SPEAKER_01: You keep at it, you do an asset allocation.
• 23:40
  SPEAKER_01: Yeah, I like an asset allocation because it's like it works out itself, it's almost like you have automated your investments.
• 23:46
  SPEAKER_01: If you decide ahead of time, I'm going to put 10% in this, I'm going to put 10% in this, I'm going to put 10% of this based on your adjusting.
• 23:55
  SPEAKER_01: So that is actually a winning strategy that you can have because you have a business that is doing well for you.
• 24:02
  SPEAKER_01: And your aim is to, because if right now your business is, let's say, making you 5,000 CDs, your aim is to continue doing this until you have other investments.
• 24:12
  SPEAKER_01: If the investment can make 5,000 CDs for you, it means that at that time you have become an investor.
• 24:19
  SPEAKER_01: It means you have uh reached the point where you have your money alone making money for you.
• 24:25
  SPEAKER_06: Let's talk about something very practical.
• 24:27
  SPEAKER_06: Yes.
• 24:27
  SPEAKER_06: How do you build personal financial systems that can grow wealth?
• 24:32
  SPEAKER_00: Wow.
• 24:33
  SPEAKER_00: You should just look at the culture and look at yourself as an example.
• 24:36
  SPEAKER_00: How do you make money?
• 24:38
  SPEAKER_00: You have to define that.
• 24:39
  SPEAKER_00: Okay.
• 24:39
  SPEAKER_00: You know, system is just steps, processes, protocols that you put in place that can run sometimes without your input.
• 24:46
  SPEAKER_00: Okay.
• 24:46
  SPEAKER_00: So let's say if you look at your finances now, we can trace it.
• 24:50
  SPEAKER_00: When you make money, where do you put it?
• 24:52
  SPEAKER_00: How much that does that money uh bring to you?
• 24:56
  SPEAKER_00: How much do you save?
• 24:57
  SPEAKER_00: How do you spend your money?
• 24:58
  SPEAKER_00: All those things, if you're able to, you know, tabulate them.
• 25:01
  SPEAKER_00: That technically is a system that you're using.
• 25:04
  SPEAKER_00: You can put it on your phone, on your laptop, or in a book.
• 25:07
  SPEAKER_00: You know, so you tell yourself, how do I make money?
• 25:09
  SPEAKER_00: Because you have nothing to save if you're not making it.
• 25:11
  SPEAKER_00: Okay.
• 25:12
  SPEAKER_00: And how many sources am I making money?
• 25:14
  SPEAKER_00: If I make money, where does that money go?
• 25:17
  SPEAKER_00: In a month or in a day, how do I spend money?
• 25:19
  SPEAKER_00: Where does it go?
• 25:20
  SPEAKER_00: You can you can or even put them in percentages.
• 25:22
  SPEAKER_06: So first thing is understand your finances.
• 25:25
  SPEAKER_00: That's it, that's it.
• 25:25
  SPEAKER_00: And where you source your money, how do you make money?
• 25:28
  SPEAKER_00: If your teacher government is paying you, but do you have any other thing that you make?
• 25:32
  SPEAKER_00: So the whole month, do you have any idea how much you make?
• 25:35
  SPEAKER_00: Yeah.
• 25:35
  SPEAKER_00: And the whole month, do you have any idea where your money goes?
• 25:39
  SPEAKER_00: Can you track those monies?
• 25:41
  SPEAKER_00: Can you really point point to us that I have maybe I paid uh rent 10%, 20%, or 50%, you know?
• 25:46
  SPEAKER_00: And how much do I save?
• 25:48
  SPEAKER_00: And where do I also have to put that money that said that it can also work for me?
• 25:52
  SPEAKER_00: And can I even put a time limit on it?
• 25:54
  SPEAKER_00: Okay, that let's say every month I make thousand.
• 25:57
  SPEAKER_00: In the next 10 years, I want to make sure that the next 10 years, uh, every month I make 20,000.
• 26:01
  SPEAKER_00: Okay.
• 26:01
  SPEAKER_00: Can you can you structure that?
• 26:03
  SPEAKER_00: And it means that how do you move from 10 to 20?
• 26:06
  SPEAKER_00: It means you cannot depend on one source.
• 26:08
  SPEAKER_00: Okay.
• 26:08
  SPEAKER_00: You know, so maybe the next 30 years, this is how much I should be able to make every year.
• 26:13
  SPEAKER_00: You know, and you can always predict that if I'm spending uh 10,000 with myself and my children and my my my my farm, my business is making profit 100,000.
• 26:24
  SPEAKER_00: Technically, if I contain myself, I'm free.
• 26:28
  SPEAKER_00: Because whether I'm uh whether I'm working or I'm not working, that money is what is coming in, and and I'm not spending so much.
• 26:34
  SPEAKER_00: You know, so it's not so much difficult.
• 26:36
  SPEAKER_06: If somebody's watching this right now and they are inspired, right, what kind of long-term strategy do you think they can set down to know that they will acquire the wealth that they want?
• 26:49
  SPEAKER_06: And I don't just mean money, I mean the full definition of wealth.
• 26:53
  SPEAKER_06: Great.
• 26:54
  SPEAKER_03: Okay, let's take this one after the time.
• 26:57
  SPEAKER_03: Okay, if you're thinking of you know making money, building a business, or even climbing the ladder of your career, this is exactly how you should do it.
• 27:08
  SPEAKER_03: We'll start first with the modeling, but that you can replay, rewind this, and then go and watch that.
• 27:13
  SPEAKER_03: Okay, but the other thing you need to do is to download an app called To Doist.
• 27:20
  SPEAKER_03: Okay, right?
• 27:21
  SPEAKER_03: I use that to schedule and to plan my day, the things you need to do.
• 27:25
  SPEAKER_03: So I just write today, okay.
• 27:26
  SPEAKER_03: I need to meet Richie today, I need to meet the team and discuss this.
• 27:30
  SPEAKER_03: Once you've downloaded the app, the next thing is your bigger dream.
• 27:33
  SPEAKER_03: And my dream is here is to have 50,000 young men and women empowered through the podcast.
• 27:39
  SPEAKER_03: 50,000, and that's a community of giants.
• 27:42
  SPEAKER_03: But I've broken the 50,000 down to how many do I need in a week per episode?
• 27:47
  SPEAKER_03: How many?
• 27:48
  SPEAKER_03: Okay, that's all.
• 27:49
  SPEAKER_03: So when once you break it down, then the to-do to to make that 50 a week happen is what you do in the to-do list.
• 27:58
  SPEAKER_03: In your to-do list, you write every single thing that you need to do to be able to achieve 50 people that will be impacted by what I am saying every single week.
• 28:09
  SPEAKER_03: Huh?
• 28:09
  SPEAKER_03: If you're a genius, you can actually break it down to every day.
• 28:12
  SPEAKER_03: Okay.
• 28:13
  SPEAKER_03: Where you break it down, okay, in a day it's X amount.
• 28:16
  SPEAKER_03: So these are the tasks that you have to do to be able to achieve that every single day.
• 28:21
  SPEAKER_03: The problem a lot of people have is that they create they create this idea in their head or in their business plan that I want to have the biggest shipping line in Africa, it stops there.
• 28:35
  SPEAKER_03: It doesn't go any further than that because nobody's gonna give you the money for that.
• 28:38
  SPEAKER_04: Yeah.
• 28:39
  SPEAKER_03: But if you start with just contracting other logistics companies, slowly, slowly, you will find that over time, by virtue of compounding, you will become the biggest shipping line company in Africa.
• 28:53
  SPEAKER_06: And this whole like uh what's a fear for our before?
• 28:56
  SPEAKER_06: Like you know, it is reducing financial opportunity.
• 29:00
  SPEAKER_06: Yes, sir.
• 29:01
  SPEAKER_06: Because somebody has worked hard in Ghana for 10 years, yeah, they've put aside some savings, they could actually go back to their village and invest in something that's going to build them wealth.
• 29:10
  SPEAKER_06: But I think if you have for Abefor, they'd be Umbekum.
• 29:13
  SPEAKER_06: So we hide it.
• 29:14
  SPEAKER_06: Yeah.
• 29:15
  SPEAKER_00: It's all some things that we have to deal with.
• 29:17
  SPEAKER_00: And and the world has moved from that position where you think some demon somewhere will kill you just because you have become powerful.
• 29:24
  SPEAKER_00: So why are they not killing all these billionaires?
• 29:27
  SPEAKER_06: I say that my goal is to make everybody watching become a mastermind.
• 29:31
  SPEAKER_06: Yeah.
• 29:32
  SPEAKER_06: So I want you to imagine you could stretch your hand through the camera and enter into the person watching's brain and drop one idea or one mindset shift.
• 29:43
  SPEAKER_06: Yes.
• 29:44
  SPEAKER_06: What would that be?
• 29:46
  SPEAKER_01: So I believe that everything is understanding.
• 29:50
  SPEAKER_01: Okay, it is our understanding, and that is what separates us from animals because we understand some things that they don't understand.
• 29:56
  SPEAKER_01: Yeah.
• 29:56
  SPEAKER_01: Understanding is what you know, the difference between rich people and poor people.
• 30:01
  SPEAKER_01: Because rich people understand some things that poor people don't.
• 30:04
  SPEAKER_01: Yes.
• 30:04
  SPEAKER_01: Okay, understanding is the difference between everything.
• 30:08
  SPEAKER_01: So once you have an understanding of certain principles, so you have to be in search of knowledge.
• 30:13
  SPEAKER_01: Okay.
• 30:13
  SPEAKER_01: Today there's artificial intelligence that is there.
• 30:15
  SPEAKER_01: You can learn about pretty much anything on the internet, right?
• 30:18
  SPEAKER_01: You can let artificial intelligence guide you.
• 30:21
  SPEAKER_01: You can a prompt that I personally recommend for everybody to use is that I want you to act as my life coach.
• 30:28
  SPEAKER_01: I want you to ask me questions.
• 30:30
  SPEAKER_01: Continue asking me questions until you have understood where my life is headed and recommend solutions to me so that I can use it to fix my life.
• 30:40
  SPEAKER_01: This is a very powerful prompt that most people watching today can use that to seek knowledge.
• 30:46
  SPEAKER_01: Awesome and you know, understanding of important things in their lives.
• 30:49
  SPEAKER_06: And imagine you could stretch your hand through the camera and drop one mindset shift into the person watching so that they can succeed.
• 30:58
  SPEAKER_06: What would that be?
• 30:59
  SPEAKER_00: Build your African consciousness.
• 31:02
  SPEAKER_00: Without it, no other information cannot be added.
• 31:05
  SPEAKER_00: Build that.
• 31:05
  SPEAKER_00: Find yourself because I see that is a major problem.
• 31:09
  SPEAKER_00: We don't carry ourselves enough, we don't believe in ourselves enough, we are not confident in who we are enough, you're not proud of who we are enough.
• 31:15
  SPEAKER_00: You know, look out on our TV.
• 31:17
  SPEAKER_00: The woman must be beautiful and she must be fair.
• 31:20
  SPEAKER_00: Why?
• 31:22
  SPEAKER_00: So if a woman is dark, she's not beautiful.
• 31:26
  SPEAKER_06: The Western standard of everything.
• 31:28
  SPEAKER_00: Yeah, if I go to invest in Ghana, I'm not intelligent until I go to some something, something.
• 31:33
  SPEAKER_00: Is that true?
• 31:34
  SPEAKER_00: And so build your African consciousness.
• 31:36
  SPEAKER_00: Once you build that, every other thing you can build.
• 31:40
  SPEAKER_03: Think about yourself at the age of 70, where you have a stroke and you have dementia, and you have a family and people that you could have that could have benefited from the talent that you have and the skill that you have, it will probably kill you faster than the stroke will.
• 32:04
  SPEAKER_03: You are going to get to a point where you can't lift a finger anymore.
• 32:08
  SPEAKER_03: And I'm not unique to it, none of us is.
• 32:10
  SPEAKER_03: We will get to a point where we'll have to say our last words, and when we are saying those words, it must be in the name of the people we impacted, not how we just felt in this world.
• 32:25
  SPEAKER_03: And remember, people will remember how you made them feel, not what you said, 100%.
• 32:32
  SPEAKER_03: So your life must serve other people.
• 32:36
  SPEAKER_02: If you really want to do that, the choice is yours.
• 32:41
  SPEAKER_03: And remember this many, many years ago, we're all rich, we're all filthy, wealthy.
• 32:50
  SPEAKER_03: All of us, many years ago, generations have gone past, we've gone broke again.
• 32:54
  SPEAKER_03: Yeah, and then people have gone rich.
• 32:56
  SPEAKER_03: It is possible that if you think you have it today, so for that reason, you are not thinking straight, you are letting a generation down because you what you're essentially doing is that a few generations down the line they should go broke again.
• 33:08
  SPEAKER_03: Because if Master Musa wrote the script down and maintained it here, a lot of us will still have to have benefited.
• 33:17
  SPEAKER_03: So this is what is happening.
• 33:18
  SPEAKER_03: There's a cycle of riches, then poverty riches, but the rough charged family have done it for years, the Rockefellers have done it for years because they pass it on.
• 33:27
  SPEAKER_03: So you can also change the fortune of your family and everybody else.
• 33:34
  SPEAKER_02: And you might think it's difficult, but this is the way it works.
• 33:38
  SPEAKER_03: If you close your eyes right now in a dark room, and then you open your eyes, and there's only one candle, you begin to see that candle.
• 33:48
  SPEAKER_03: Because and when the world is this dark and you choose to be light, the universe cannot help but help.
• 33:56
  SPEAKER_03: Oh, I love that.
• 33:58
  SPEAKER_03: So, this is the it's it's it's the place on your plate.
• 34:01
  SPEAKER_06: I really hope everybody watching really grabbed what you said and they're going to take action now, not next week, not next two months, when I finish learning this course.
• 34:11
  SPEAKER_06: Take action now.
• 34:15
  SPEAKER_06: Thanks for watching this episode.
• 34:17
  SPEAKER_06: The fact that you stayed all the way through to the end tells me that you're not only curious, but you have the discipline to see what you do all the way through to the end.
• 34:27
  SPEAKER_06: Now, let's build a community of thinkers who are ready to become the best version of themselves.
• 34:33
  SPEAKER_06: So, subscribe to the channel and the mindset that you will develop and grow every day to become a true mastermind.