Myron Golden Behind the Scenes

Myron Golden Behind the Scenes
0:00 What’s The Purpose of Money?
The primary purpose of money is to pay bills. If you think that the primary purpose of money is to pay bills, how can you be anything but poor? The only reason you think you need to go get money is to pay somebody else, and so you'll never get more money than the amount it takes for you to pay somebody else. So as long as you can make enough money to pay your bills, you're happy. So you go get a job. You think, "how much money does it take for me to live? If I can get a job making that much money, then I'm gonna be okay." This is why you're poor. It's not the amount of money, it's not the job, it's not the fact that they don't pay anymore.
I like what Jim Rohn said: “I said to my mentor, Mr. Shoaff, this is all they pay." He said, "that's all they pay?" He said, "lemme ask you a question, Mr. Rohn." He said, "Do they pay other people at your company more than they pay you?" "Yes." He said, "Well then that's not all they pay. That's just all they pay you.""
People don't lack access. They only lack awareness of access that they've already had. You already have enough access to be rich. You don't have enough awareness to be rich.
Middle class people think the primary purpose of money is to maintain good credit. They make a little more money than it takes for them to survive. And then what they do is they buy things that cost more than they can afford to pay for more credit.
1:34 On Using Credit
I love using credit and using good debt to create wealth. I don't use debit cards unless I go to the bank to prove that I'm me. Everything else I buy on a credit card because all the credit cards I have give me points. Points are money. They're paying me to buy stuff. It makes way more sense for me to pay with a credit card, get the point, and then just pay the credit card off at the end of the month. Maintain good credit.
2:33 What Keeps You Stuck?
So middle class people have a lifestyle that makes them look like they're doing better than they are. But I am here to tell you that very few things keep more people stuck in their current financial situation than trying to look richer than they are. I would rather look broke and be rich than look rich and be broke.
So what's the difference? What do rich people do? Well, we believe the primary purpose of money. Well, I wasn't "we" then, so "they" back then, they believed the primary purpose of money is to turn it into more money. So the private first thing I want to do, the most important thing I do is turn my money into more money, turn my money into more money. When I get $1 or $10 or $100 or $1,000 or $10,000, or $100,000, or $1,000,000 or $3,000,000 or $7,000,000 or whatever, my primary objective with every single one of those dollars is to turn it into more money before I spend any of the money I just got.
Why do I say it's critically important to make money faster?
3:38 Making Money Fast is Critical
Because if you don't, here's what's gonna happen: inflation and taxation are gonna erode the dollars you get faster than you can earn them. This is why it's important to make money fast. "Myron, what is inflation?" Inflation is if there are only $100 in the world, let's say, okay, so it's $100. There's $100 in the world, whole US economy, $100, doesn't matter what the number is, works the same. And there are a hundred people and all hundred people have a dollar.
As soon as the government prints another hundred dollars, that hundred dollars is now only worth 50 cents and every year inflation, well, up until last year, the year before that, last two years, inflation's been greater than it's ever been in human history, like in American history. Before 2021 and 2022, inflation averaged about 2% per year. Every 10 years your money is worth 20% less than it was a decade ago. So people feel like they're making more money and they are making more money. They're making more, but the more they're making is worth less. So they're still making the same amount or worse.
That's what inflation does to your dollars. And then what's taxation? Taxation is when lifetime politicians... politics. Say "politics." Oh, that's an interesting word. Poly means more than one tick. Blood-sucking parasites. Okay. Sorry. So, did I say that out loud? Okay, so what they do, they don't know how to create anything.
So what they do is they take the people who are producers and they come take it from them, and then they give what they take to somebody they think deserves it more than the people who make it. Mm-hmm. So if you don't get rich, taxation and inflation are gonna make you so poor, this is not an exaggeration, literally, your children or grandchildren may end up living on the street as homeless people. Cuz you didn't get rich.
Myron Golden Behind The Scenes
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