How Can Financial Literacy Help You As A Student

How to know if you're an entrepreneur? You know, there's a lot of gurus who make it sound super sexy, super easy. You can do it in a few hours a day. You're going to make hundreds of thousands of dollars. They're so full of it. I'm going to tell you the truth if you're ready. Get a pen and paper. We've got a lot to talk about. See, if all you have is employment money, right? And you're actually my favorite client right now, right? Any of you that are making You're my favorite client because you can afford to live corporate life. Because you're also getting overtaxed because you're going to make money. You're going to get taxed to pieces. And by the way, if you make $80,000 or more, you're already in the top 25%. But if employee income is the only kind of money you make, you don't have any legal right to do deductions, to write off your phone, to write off your home office, write off your car, write off any of your supplies. So you need to get incorporated. LLC, an S-corp, a C-corp, limited partnership or trust. If you're name of the company is different. It's like a limited proprietary, a proprietary limited partnership, corporation, things like that. In principle, it's the same. So if you want a legal right to live 81,000 pages of tax code, or in Canada, it's 3,400 pages of tax code, similar to in Australia and the UK, then you've got a role. So I want you to live both lives. I have a new client. She's a pharmaceutical sales rep and he's a firefighter. He's got plenty of time. He only works 10 days a month. I have a lot of firefighters and a lot of service, you know, I'd say people that need, like our communities need those employees. We need cops. We need all of those things. We need military. I have a ton of military. That's an employed job. Starting to get some professional athletes. That's an employed job. The only way to counter the amount of tax you are going to pay, right? Scott, my partner calls it the silent partner, the IRS, or your tax revenue service is you have to be incorporated. That gives you the legal right to earn money, get deductions, and do all sorts of business trips versus vacations. I can go on and on. Be an entrepreneur. So I want you a serious entrepreneur, a six-figure entrepreneur. So there are entrepreneurs who sell products and services. There's entrepreneurs who just sell services, just sell products. The combination is where you're going to have the richest experience. When you have a combination and you say, well, I don't have a product. Well, you can be an affiliate of any of the products that you sell, right? I've been doing construction and real estate for a very long time. We get paid for the service of the construction or the rehab or whatever we're doing, but we are an affiliate or distributor of the actual products we use to build, right? We're going to do the same thing in the cannabis space. We do the same thing with most businesses. So you actually get paid by the very products you use. There's so many ways to make money. Multiple streams of income has been highly misunderstood. Multiple streams is in the investing diversified part of your portfolio. It's not on the business side. On the business side, your diversification and multiple streams is in one category. So my category is money. So I can get paid in all sorts of categories around money, right? So I can offer you an entity. I can offer you a trust. I can offer you education. I can offer you books. I can offer you a game. There's so many ways to create those streams of income and be an affiliate of a whole bunch of other things that can pay you as well. So how much money you make is up to you. If I was you and I'm going to decide, and I'm an employee right now, and you're sitting out there listening to say, do I jump and do I be an entrepreneur? Absolutely. You need an LLC, an entity in principle, if you're watching this from other parts of the world, you need a company to make the money so you get all the deductions. And that offsets the high taxes that is paid on, that is taken against your high income. So yes, you need something, even if it's a little side hustle. By the way, I've got a bunch of those videos. And then let's get to the truth, right? Do you have it in you to be an entrepreneur? Well, how much do you want to hustle? And how much are you passionate or mission driven about the thing you're doing? Like from 96 to about 2000, I was a master distributor of the cash flow game. So I spent those years learning how to be an entrepreneur, right? And there's three skills I'm still share with you at the end of the video that you have to have to be a great entrepreneur. So I spent time under someone else's great entrepreneurial umbrella to learn it, understand business, understand the flow, understand inventory, controls, margins, all of those things. I didn't learn it at school and I have a business finance degree. You don't learn those things from the place of, you have to generate it. You learn it from, I have to go be employee and look at somebody else's books that you're unattached to. So do you be an entrepreneur? Absolutely. Do you have it in you? You're going to need a team. You're going to need some skills. So I share that story about the, the, the rich dad, poor dad group, because I didn't just start with my own stuff. I started selling other people's stuff. So there's so many ways you can be an entrepreneur to make money. But if you're not going to get committed to make at least six figures, you and I need to have a little chat because it is a lot of activity. I'm not going to get a lot of work, like from a negative standpoint, it's more than most people tell you. So let's get to those three skills. You're going to have to learn to market, which means you're going to have to promote your product. You're going to be on the social channels. You're going to need to probably, you know, potentially a Shopify or some sort of store to sell products through. You're going to need to then sell, right? So you're going to need to market to get a lead. You're going to need to sell to create the cashflow. And then you've got to manage cashflow. Those are three top skills. And I don't care what university you go to until you put those into practice and your life and your family depend on it. Nothing will drive you more for a lead sales and cashflow. Those are your drivers to get you up in the day because you aren't going to get a little paycheck. Now, all that being said, back to my original comment, I do want to reinforce, you do want to be an employee of your company, but a tiny little salary of it. So where do entrepreneurs get born and bred? Right here, right on YouTube with me on this channel, five days a week, subscribe, hit the notification button. I learned from other entrepreneurs very similarly. It's what created and amplified the mentoring coaching space. There's a lot of amazing experts out there that you can learn from. I'm the best. So let's talk about how many hours you're going to work. Well, is that really why you're going to do it? The fact that that's a big search term is interesting. Like you're going to run your life based on that rule. Aren't you just going to do what it takes? See, I've never had like a personal life and a professional life. Now I had a job for like a little minute over at Chevron, a minute meant a few years. And I learned immediately that they kept, I mean, they were taught like you need work-life balance. And I'm thinking that whole thing just never made sense to me. Why don't you just have a life, right? You have a personal life. You have a professional life. It all kind of blends. You just have a life. And that way, when you actually live as a true entrepreneur, you can take your kids on business trips. You actually, everything you do, everything I do is through my businesses, right? You live, breathe, and work it. Now that is it to scare you off to say, oh my gosh, that's too many hours. When you actually know how to build teams and systems, you actually get a hell of a lot of freedom, a lot of freedom. You get to control it. You could have great teams. You get to decide where and when you want to work. The pandemic just spread that out even more. So entrepreneurialism, I think, has always been the answer. How much do you work is up to you. How much do you want your teams and systems to work is up to you. So I'll design that for you. I have a whole team. I've committed my life to it. I'll guarantee you six figures of extra income if you let me help you and do everything I say. So here's what I want you to do right now. I just gave you a ton of content. I want you to come to my marketplace. I do what's called the Millionaire Intensive in a Marketplace. I do it every three weeks. You're going to learn all this in a six-hour class, right, from 10 to 4 Pacific. And then I'm going to put you in a marketplace to learn these skills. A lot of you, here's what I'm going to say for those of you who don't want to pick up the phone and dial, and you want to do it all online, then let our team just do it. So again, I want to see you at my event. Even if you can only show up for a few hours, click on the link below, grab the two guest tickets, and that'll follow up with a gap analysis, which is your student profile. You want to fill that out. It's in the first three chapters of my Millionaire Maker book. So I'll give you a copy of my ebook copy of the first chapters of my Millionaire Maker. So you get the tickets. You're going to get three chapters. You'll fill out a profile. I'm going to see you in a few weeks. I'm going to teach you how to make money. You make a decision what kind of entrepreneur you want to be at any time between now and then. If you have any questions, go to asklaurel.com. Ask a question, make a request. I have somebody there all the time answering every question that you ask. Look forward to working with you and supporting you on your journey. Talk to you tomorrow.