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The system sets you up for failure

Anthony Bertoncin

Posted on October 28 2020

The system sets you up for failure

GOOD AFTERNOON!

I hope you are having the most vibrant day today and if it's not going too hot, I'm praying it gets better! I thought I'd do something a little different this week and talk about something most people are scared to, money. I just want to start by saying that I am not a financial advisor and everything I say in this post is an opinion and has come from my own experiences. As someone who grew up in a family that is DEFINITELY NOT financially literate.. I've had to learn a lot on my own. If it wasn't for my ambition to self educate, I don't know where I'd be right now. I know a lot of you aren't big readers so in this email I'm gonna be sharing with you everything I've learned over the last few months of getting my sh*t together and where I got that information in case you wanna check it out too. Let's begin (this is a longer one but I promise it's worth it)!


Mindset & Beliefs.

"Our realities are make-believe; whatever we make ourselves believe, we experience." When it comes to money, most people feel like their beliefs are in pretty good shape. What they don't realize is that most of what they think or know about money comes from their conscious mind. However, we have a something called a subconscious mind, which is like the papa smurf that controls all of our actual results. So unless your subconscious is aligned with the conscious.. you're not gonna get anywhere. Obviously we are all born with no knowledge, no thoughts, etc. We immediately start absorbing what we are surrounded by, which at the time is family. If your family isn't well off, they may actively talk about how "being rich" isn't all that and they may see it as a bad thing. "Money is the root of all evil," is what my mom always told me. A lot of us go through life holding onto these beliefs scared that if we risk trying and failing, trying and succeeding, losing weight, getting rich, having a new opinion, a new love life, a new strut in our step, the people we love will reject us when we change. This is your life and there is NOTHING wrong with wanting more than what you were brought into this world with. Me for example, I am so set on the idea that I'm meant to do great things. I'm supposed to be RICH. Money amplifies who you are already, so having it will allow me to start businesses that employ people, donate to charities, help those in need, give my friends amazing experiences, retire my mom, buy my dad a new car, be financially stable for my future family, etc.
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Here's a drill for you:
 • Become aware of the limiting thoughts and beliefs that are imbedded deep in you.
• Question and investigate them.
• Rewrite them.
•Say it out loud and proud.
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Here's an example:
Unhelpful thought: "Money can't buy happiness."
Question: What makes me happy?
Answer: "Hanging out with the people I love, sausage/pepperoni pizza, being loved and loving others, laughing my ass off, giving gifts to people, traveling, mountain biking, snowboarding, road trips, listening to music, running my own business, freedom."
Question: Does having money help me achieve any of these happy things?
Answer: "Yes."
Rewritten thought: "Money supports my happiness."
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Money isn't the root of all evil. Yes, our world is full of unspeakable horrors and injustices born out of the things people do for money, but the wrong-doing is caused by the perpetrators, not the money. So, I want you to realize that money is abundant and there is plenty of it out there for you. The thoughts/words that you produce help shape your reality so start acting like the person you wish to become. This is why I always try to teach you guys to find the positive in each situation. 
*I strucutred this section with the knowledge I got from "You are a Badass at Making Money" by Jen Sincero! Click the link if you'd like to check it out!

Credit Cards

In the United States at least, there are two forms of paying for things: Credit and Cash. For some reason a lot of people are scared of credit and consider it to be a bad thing. It's not bad at all, the education system just fails to actually teach you about it. The more I learn about it, the more it excites the living hell out of me! By using credit cards, you can help build your credit, build your business, get you into exclusive clubs, get priority passes, get rewards points which you can then redeem for free travel, cash and more! As I learn more about all that, I will definitely share the knowledge with you but for now, I wanna make sure you guys are off to a good start! I was fortunate enough to have a mother with good credit and thanks to that, I'm sitting in a great position. As soon as you turn 18, I highly recommend finding out from your parents what their credit is like. If it's good, ask them to put you on their card as a cosign. This won't give you a credit card but you're gonna be gaining the perks from your mom/dad! It also will build your credit history so when you go to apply for your first card, you've got a really good chance at getting approved. To be honest, I got into the credit game later than I would have liked to, but I really didn't have a desire to financially get myself right until last fall. This month I applied for my first card! I could have gotten approved for an intermediate level card but I wanted to play it safe and make sure I'm doing everything right so I applied for a beginner card (The Discover IT Cash-Back Card). I applied for this one not only because of their high-approval rate but also because of the 5% cash back on rotating categories. This pretty much means that each quarter of the year, they give you a certain category and if you purchase something in that category, you'll get 5% cash back on your purchase. For example, from July to September, the category is restaurants and Paypal! They also will match your 5% for the 1st year as a new cardholder!!! So I'm pretty much getting 10% back on purchases in the designated category and 1% back on any other purchase! Within the next 2-3 months I'll be applying for my 2nd card with Chase! I would give you guys some more information on credit but like I said, I'm still learning and promise to update you guys as I go. If you would like to check out the Discover IT card, you can click my affiliate hyperlink above! If you sign up, we'll both get $50 fyi ;) Also, if you're interested in learning more about credit I recommend watching Brian Jung on Youtube! He's extremely friendly and provides a lot of great information!

 

 Retirement

Lastly, we have retirement and how you can NOT get screwed over. I'm gonna be honest... this one really blew my mind and you'll see why. If you come to my streams, you know I just recently finished "Money Master The Game" by Tony Robbins, which is where I got all this information from. If I had to summarize retirement in the US in one sentence I'd say, "It's a scammy shit show that a majority of people don't understand nor care to." The first thing that stood out to me about retirement is that a lot of people don't actually know how much they have in retirement. The ones that do are most likely wrong because they don't see all the fees that could potentially be lingering around: Expense ratio, transaction costs, tax costs, soft dollar costs, cash drag, redemption fee, exchange fee, account fee, purchase fee, etc. I don't know about you but just from that list, I already am overwhelmed and want to crawl up in a ball. It doesn't make it any better that unless you have a fiduciary advisor (works specifically just for you and your benefit), your account manager will also be working to try and make the company the best returns. So, you're not even their priority!!! Companies market false returns on your investment when trying to get you as a client. Most returns you get advertised are not real, they market time weighted returns not dollar weighted (kinda like how e-commerce people will show their Shopify sales but not show you the actual profit once expenses/product costs are deducted). I can't talk too much about retirement as I'm still getting into it but like credit, wanted to share where I'm at. After reading Money Master The Game, I felt confident enough with the information to start my own retirement account (specifically a Roth IRA) with Charles Schwab and set aside a certain amount to invest each month! My best advice is no matter what your age is, start setting aside money for retirement, the sooner the better. Let's say you start investing in the market at $100 a month, and you average a positive return of 1% a month or 12% a year compounded monthly over 40 years. Then you have a friend that starts investing 30 years from now but invests $1,000 a month for 10 years with the same percentages compounded monthly. When you both retire at the same time, your friend will have $230,000 and you'll have $1.17 million! All because you started investing only $100 SOONER! Compounding is key! As Tony would say, "don't get in the game unless you know the rules." The point of this section was just to make you aware of all the things that could go wrong with your retirement unless you're properly educated in the subject. It's never too late or too early to learn! Personally I think the easiest way to do this cost effectively is watching youtube videos or reading two of Tony's books on the topic: Money Master The Game and Unshakable, that man has changed my life with every book I read! Here's the link again if you missed it above!

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TAKE ACTION!

If you got this far into this post... I seriously LOVE YOU and am very proud haha! I'm hoping you learned something but I'm here to tell you that knowledge isn't power UNLESS you take action. The 3 decisions you need to make to reach success are:
1. What you focus on
2. What things mean to you
3. What you do to create the results you desire.
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There is nothing wrong with desiring the best out of life.. out of yourself. I don't write these posts for nothing. I'm here to motivate you to try and reach those goals because I have an absurd amount of FAITH IN YOU <3 You're amazing! Go out there and chase your dreams! Other than that, have an EXTRAVAGANT day today :)

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