The question that comes up the most is “How can I grow my bank account to become financially free?”.
The answer is GRATITUDE!
What’s up everybody? This is Ryan Enk with cashflow dad life and you are listening to podcast number four and you will like this episode. That’s not a threat. I just said it like a threat just so you would listen because it’s important. It’s very important because what we’re going to be talking about today is mindset and more specifically how to create a million dollar mindset.
Now, why is that important?
Everybody’s like, look, you know, show me the strategy. Show me the strategies and I’ve got tons of strategies and I’ll show you tons of strategies for making passive income, but here’s the thing, you can know the steps, but if you don’t have the right mindset, then you will fail it.
Mindset is everything to go into different passive income producing strategies. So just to give you an example, like how many people would you say, “how many people would you say want to look good naked?”
I would, I would say that probably 99 point nine percent of people, uh, want to be in shape. They want to feel healthy, they want to look good and um, and the other point one percent or just lying about it, but everybody wants to look good and everybody wants to feel good and you know what?
Everybody pretty much knows the steps that they need to take in order to get there.
It’s not that hard…
You exercise and you eat right? That’s all you have to do. Those two steps. But yet, when I look around, I still see now maybe five to 10 percent of people are in the shape that they want to be in during the health, uh, that they want to be in.
And what is the difference between the people who want to be in shape and the people who actually are, is not the steps, it’s not the strategy.
The difference is the attitude, the mindset. OK? So we’re going to be talking about in the next couple episodes, the right mindset.
This is so important…
What I’m going to give you are the, what I consider the four pillars of having a million dollar mindset. OK? So the first one that we’re going to talk about today, the first and most important fundamental, a pillar of a million dollar mindset is gratitude. And that might strike you as a little surprise. Why is gratitude important?
Here’s an example, a story when I was a kid, when, I don’t know how old I was, but as back when Nintendo a emerged on the scene, at first it was Atari and Atari was like amazing. How in actuality it just sucked, you know, to, you know, kids, it was just amazing. And then the… came out and was phenomenal.
Well, I wanted an intended so freaking bad. Um, and so I asked my parents if they would give me an intend to do for my birthday. And their answer was no, we’re not buying you a Nintendo, it’s like 100 bucks. So I was like, OK, you know, my parents weren’t poor. We were, you know, maybe up upper middle class. But, you know, probably one of the best things they did for me is not buying me in an intended. So when my parents told me no, I started relying on other people’s still. So I was like, you know what, if my parents going to say, now I’m just going to ask Santa Claus for Nintendo.
Well, not only did Santa Claus not bringing me in intend to that Christmas, but he also gave me a piano lamp as my main gift for Christmas. A piano lamp. Imagine going into Christmas with the expectations being that you’re going to get an intend to do, but instead you get a piano lamp.
So I was a little pissed off about that. You know, to apparently Santa is BS, so I’m going to ask the Easter bunny for Nintendo. So I asked the Easter bunny and of course the Easter bunny shat the bed and I started to doubt whether or not the Easter bunny and Santa even existed after all. And then I kinda knew that the [inaudible] was a little bit of bs, but I still ask the tooth fairy for Nintendo and that night I didn’t even get a dollar, not even a quarter, not even a nickel, but a stick of gum from the tooth fairy. So I thought, OK, well that’s absolute crap. But yet I kept on going with it and I’d try to be persistent. And I said, mom, Dad, I really, really wanted an attendant, can I have one for my birthday?
And again, the answer was no, it’s too expensive. And then, uh, I asked a den for the next Christmas, Vernon and [inaudible], and not only did I not get an intent, oh, but I learned the truth about Santa Claus and the Easter Bunny. It was the worst Christmas of my life. Very Sad.
I wasn’t too disappointed in the tooth fairy because, uh, because I already knew that that wasn’t real. So what happened? I was in this place of, um, what do you call it, this, this, uh, this place of needing something, of wanting something, a disparity and in this place of wanting something that I had a need and that caused action.
So most of you, if you are looking to make passive income or you’re looking to get started making investments, you’re coming from a point of there’s a hole somewhere and you’re looking to fill it.
And it doesn’t necessarily need to be something that’s fancy, like a nice car or a yacht or a beautiful home.
A lot of times it’s just, I just want to get out of debt. I just want to get by. I just want to be comfortable and provide for my family adequately. It doesn’t have to be this grandiose need is just I don’t want to be in financial duress, right?
Well, at this time when I was a kid, I had this, this want and this need that caused me towards action.
So at that point I stopped relying on other people to do things for me and I had to take matters into my own hands. And that’s a lot of times what happens to us. We rely on other people to do things for us. You know, we follow the formula written by society that we should just go to school and then get a corporate job and we’re just relying on everybody else for our income or relying on a business or a corporation for our income instead of on ourselves.
And so that was the best thing my parents did for me because it forced me into entrepreneurship and I learned how to make money. So I learned the skill of cutting the grass, a learned skill of pressure washing. I learned the skill of a washing cars, of walking dogs. I learned the skill that I needed in order to make money. And I’m very grateful that my parents deprived me of that because I learned how to do so I learned a skill that I really could’ve taken a throughout my life. I mean, adults make plenty of money.
I mean, some of the richest people I know have these massive landscaping businesses. And that’s what I learned because I wanted to buy a Nintendo. And it was very rewarding when I finally went to toys r us and bought that Nintendo.
Now fast forward to my current life with my children…
Now, my oldest has wanted a hoverboard for a very long time. And this is the second Christmas my wife and I had a disagreement on whether or not he should get a hoverboard. And my opinion was, look, um, he’s, he’s at that age where we need to deprive him of stuff so that he will want to work well. I lost that argument and we got them a hover board, but I still wanted to. He’s 12 years old.
And so I want him to go out like I did at that age and start mowing lawns and do things for money. Um, so I brought it up to him in the car, I gave them all these ways that they could make money. I gave them these passive income strategies, but also the easy quick strategies of just going and knocking on your door and asking them if you can cut their grass and uh, because I want them to learn what a real job feels like before they start making passive income.
I’m B, so they will appreciate the passive income a little more so there’ll be grateful for it. So, uh, my son tells me I don’t want to work, which strikes me as just, you know, completely off because he’s not like a, like a spoiled kid. At least he doesn’t behave that way or he didn’t behave that way up until this point. And I’m like, what do you mean you don’t want to work?
He’s like, why would I want to work? He’s like, I don’t, I don’t want anything. I was like, well, you don’t want anything because you’re given everything. You know you’ve got everything that you want. You’ve got a nice house, you’ve got, you know, these toys.
You got the x box, you’ve got the, the hoverboard and um, and he’s like, yeah, I just, you know, he’s trying to convince me he’s a simple kid and he doesn’t, he doesn’t want stuff.
So I’m like, this is bad. We should have, we should not have gotten, gotten him that $300 hoverboard for Christmas. Um, because now he doesn’t want to work and I want badly for my son to have work ethic. Um, so what do I do? I say, all right, well, you know, I’m getting upset at this point.
So I say, you know what, I’m, you don’t want anything and you don’t want to work because everything is given to you. So from now on you have to pay for everything that you want and wait and see what those things are going to be because you don’t realize how often you receive things. And that’s also true in our own lives. A lot of times if you’re at a point of, you know, wanting something or needing something, you’re, you tend to focus on what you don’t have instead of what you have.
So the, so that’s one of the most important parts of mindset is focusing on things that you do have and having this attitude of gratitude. Well, what happened to my son is the next day his uncle offered him a saints playoff tickets to take them to the saints playoff game. I said, no, no, we don’t do this thing where you just receive gifts anymore.
If you want to go to the ST playoff game, you’ve got to pay for those tickets…
And truth be told, I just made up a number. I said, you need to come up with $80 in order to go to the saints playoff game. Well, he threw this fit. He was upset. Why can’t I in what he said that rubbed me the wrong way. He’s like, that’s stupid. Why can’t I just have it? And that’s where I was like, OK, this guy, this kid is totally ungrateful for what he already has.
I’m trying to make them grateful for getting things, uh, for, for not giving him what he wants. So that’s where a lot of us are in our life, is that we’re not getting what we want. Well, if you’re not getting what you want, then it’s probably because you’re not grateful for what you already have. Like my son.
Now there comes a point to where it escalates to another level and you may or may not have experienced this as well, but there’s a point where it’s no longer in the realm of you can’t have what you want. It becomes into the realm of you start getting what you have taken away and that’s the way it was with my son. When He. When I try to say, OK, you can’t have what you want. I need you to learn this lesson.
I need you to work…
And he started having a bad attitude about it. And so that changed to, all right, you know what? You’re going to have this attitude. I’m going to start taking things away. Guess what buddy? Now I’m taking away your hoverboard. OK? If you want this hover board back, you’ve got to make $300 to get it back. So now my son went from this point of a not getting to go to the saints game to also getting his hoverboard taken away. So at that point begrudgingly he decided he’s going to work.
So he learns a skill of mowing the lawn and he starts walking the neighbor’s dogs and weeding the garden and offering to do jobs around the house because truth be told he couldn’t come up the 80 bucks before the saints game. So he had a borrow money from his little brother who loan shark them a 10 percent per month on a, on 80 bucks…
So he had to pay as little brother back as well in order to go to the saints game. So he got the point, he had to start working to get out of debt, yet to start working for the things that he wanted. He got his hoverboard back, uh, and he wanted an X-box, a different x-box live, whatever the xbox one or whatever it is, the newest one. And so he worked for that money, sold stuff on Ebay.
He learned the skill of making money. So the point that I want to make is that where you are with what you need right now like this, this whole, uh, this empty, this disparity in your life, the attitude that makes the difference between poor people who stay poor and poor, people that then become very rich is gratitude. Cause people who are poor, they could look at their situation, say, yeah, I don’t have this, but this is what I do have.
And when they’re grateful for it, it’s weird. Life has this way of rewarding you for your gratitude and it gives you more, um, and gratitude in general. It just, it w. here’s what gratitude does a physiologically, psychologically with you. When you’re grateful for things, it gives you energy. Now, I think that most of us can naturally be negative, not like naturally positive people can be naturally negative. Sometimes my wife is the perfect example.
She’s a very positive, upbeat, joyful person, but there are some times where she wakes up in the morning and she’s just staring at me, ticked off because of whatever dreams she had. Right? And then she gets up because of that dream and she’s upset. I’ve literally done nothing in the past eight hours, but sleep, um, she gets up and all of a sudden she’s got a problem with the clothes that are on the floor and the toilet seats up, or even if it’s down, it was up yesterday, you know, like all of a sudden there’s all these problems because of this natural state of negativity that we tend to go in.
Well, what gratitude does is it puts you in a natural state of positivity. And when you’re positive, you have energy. When you have energy, it creates action. Negativity, it creates paralysis, paralysis creates inaction. And that’s a major difference between getting stuff done, to have, to become a millionaire and not getting anything done right.
Knowing the steps but not getting them done, you know, knowing what it’s like to lose or a wanting to be fit, but not doing the steps to get there.
You know, it’s the same thing with the financial world is this, this gratitude creates this positivity, gives you the energy and action to move forward. One of the things, um, excuse me, one of the things that my wife and I do is we try to create a habit of being thankful. Um, and this has helped our marriage tremendously.
I don’t know if any of you guys are married, but this is like the best tip that I could ever get.
We get up in the morning and the first thing that we do, we pray in the morning. We have this little formula we call trip. It’s an acronym that stands for T R I P. We do thanksgiving. We say what we’re thankful for. Then we reflect a, we’re Christians and we reflect on like the Gospel.
We say what our intentions are for that day. Um, and then we, uh, and then we plan out the day together. But the first thing that we do is say what we’re thankful for because when she gets up in the morning and I get up in the morning, the first thing I’m doing is spending time with that person saying what I’m grateful for.
So I can approach my attitude towards them and towards the rest of the world with positivity. And with energy and just that general state of being thankful has a tremendous effect on everything in your life.
If you practice this at least once a day, being thankful and having gratitude you will watch as your energy grows throughout the day.
And you will also watch over time your bank account grows because you’re grateful for what you already have. It gives you, the energy in life seems to reward you by giving you more because you have this gratitude. Now there’s actually I’m, there’s just Catholic saint. A saint.
Ignatius of Loyola started the jesuits and he actually used to make his order, say what they were grateful for six times a day. So what he’s doing is creating this habit of this positivity, this energy that creates action, and doing it six times a day creates just this habit of gratitude. OK?
Whereas naturally you might wake up, even if you’re a joyful person nationally, you might wake up and you just, you know, sometimes things just start off negative throughout the day and one thought or one dri, one bad dream, like my wife’s case can have an effect on the rest of the day.
So it’s very important to every day have this attitude of gratitude. Say what you’re thankful for in the morning, I recommend is after listening to this podcast, we get some time. Sit Down with a sheet of paper, list everything that you’re grateful for, every little thing in every aspect of your life, from your marriage, your finances, your children, even if your finances are crap, list what you do have a or what you once had that you were once grateful for.
I’m telling you, this is the difference between people who are poor that get out of it and become rich, and people who are poor that get stay poor or get even more poor and his start having things taken away is because they have gratitude. OK?
So that is my recommendation for this podcast:
Create your list of what you’re thankful for. That is the first fundamental pillar that you need in order to have a million dollar mindset. Move forward with different passive income investing strategies. Say what you’re grateful for every day. Add to that list every day. Do it as many times as you can throughout the day. And I promise you, you will watch your bank account grow.
My name is Ryan Enk and this is Cash Flow Dad Life, and I will talk to you guys next time.
Thanks for listening. Please remember to rate and subscribe. You’re going to want to listen to every episode because each episode we’ll have an idea or a strategy that changed my life and could change yours and only takes one for more information and some great passive income. Invest in resources. Check out my website cashflowdadlife.com. Until next time, my name is Ryan Enk and this is Cash Flow Dad Life.