How do you have more money than you think you have?
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Creating time and wealth channels to grow your life investing skills…
What’s up everybody? This is Ryan Enk and that was my Cajun intro and I’m not sure why I did that because I’m not Cajun, but I am stoked about this episode. This is episode number two of cashflow, dad life and today I’m going to show you how you have way more money than you think you have.
So if that sounds good to you, less role. So my two year old John Paul is the cutest kid in the world and I’m not just saying that being kind of biased like I’ve, I’ve made a lot of kids and I’ve known a lot of kids.
My first couple of kids came out a little bit ugly….
That got cuter as I got older, but he is actually genuinely ask anybody that knows him. He is just the cutest kid in the world now.
He is also by far the biggest asshole that I’ve ever met in my entire life. He’s like, I was telling my wife this the other day, he’s like, that college frat buddy that you know, wasn’t really your buddy, but he was in the same frat as you, so you have to be friends with them and you’re at a barbecue and he’s just walking around, dicking with everyone.
He’s knocking everyone’s beer over. He’s poking the dog and the butthole and laughing about it, who he throws the Bluetooth speaker in the pod just because he thinks it’s funny to mess up people’s stuff. He’s walking around town everybody’s opinion and uh, and what he wants right now, which is fine, but he’s just being like, you know, like real abrasive about it.
That’s my son, that’s my two year old son. He is a college frat kid, asshole trapped into two year old’s body.
At any rate, we have this, we’ve got this Rumba, if any. You guys don’t know what to Rumba. Is this like this vacuum cleaner that’s like automatic. So it just cleans up your kitchen if you just press the button and you don’t have to actually manually operated and just automatically goes around and cleans everything up.
Well, he has been told in no uncertain terms under penalty of death, dismemberment, disfigurement, not to touch the Rumba, but this kid keeps on touching the Rumba and the touching is going beyond just pushing the button it standing on top of the Rumba and writing it like it’s a skateboard which is going to mess up the Roomba. So we keep on trying to punish him for this.
And at first I was like, you know what, you know, maybe maybe he’s a little dumb. Maybe he’s, you know, not getting that touching Rumba equals punishment.
We just kept on playing, but after a while you just see this look on his face, like he knows what he’s doing and he knows it’s wrong. So, so the other day we’ve got the Rumba going in the kitchen and uh, this is like his 343rd time of being punished for touching the Rumba. And so the Rumbas moving, he’s walking up to it and I’m like, all right, take a look at this. So we actually get it on film because you could see in his head that he’s looking at this thing.
And he’s like, all right, if I get on that Rumba, I know that that will make me free…
I know that I will experience this freedom like I’ve never experienced before. If I hop on top of this [inaudible], it’s gonna be awesome. It’s going to be amazing. But I’m being told that I cannot get on this Rumba.
So you see him, you could actually see him in the video is uh, you know, he kind of puts his, his hands behind his back, like, ah, I don’t know if I should do it. And then he just goes balls out towards it and hops on top of it and started riding it across the kitchen. Now would he understands, is something that we forget to understand that as an adult when we want something, we have kind of let life, uh, kick us down.
You know, when you’re a kid, you understand this concept of, all right, I’m going to use what’s at my disposal. In his case, he’s like, well, if I just act cute and I do something funny afterwards, then the punishment won’t be so bad. Or maybe if I’m just persistent enough on getting top of this Rumba, then maybe I’ll just wear my parents down.
OK? That those are the two talents that he used to get what he wanted. Persistence and persuasion of being cute. Right? And when we were kids, that’s what we used when we had this concept of we didn’t know, you know, hey, uh, uh, you know, if I want this, I need money. But as you become an adult over and over again, you start figuring out if I want things, I need money. So W, which is fine, that’s the way the real world works.
The problem is when a lot of people are looking at getting started creating passive income, they buy into this lie that it takes money to make money. So they actually never do anything because they think, well, I don’t have money. And uh, and what they don’t realize is that they have way more than they think that have it.
The whole idea of it takes money to make money…
It will look, if you’ve got money, it helps. But what you fail to understand a lot of times is that it doesn’t take just money. OK? And there’s a difference between money and capital and what you need to start creating passive income investments be if it’s real estate or if you’re going to do something online, which you need is capital. OK?
So what I want to talk to you about in this episode is that difference between a capital and money. OK?
So here’s how you find out how much capital you have. No capital is all of your assets. Everything you have. And when we brace, we basically break it down into six different categories. It’s between, um, your money, what you actually have. And that’s what people mostly measure. Well, this is what I have started to get started investing. So it’s your money, it’s other people’s money, which a lot of people don’t realize they can go after.
It’s your time and then it’s other people’s time and your talents and then other people’s talents. So why am your money, opm, other people’s money, yet your time opt other people’s time and your talents and opt other people’s talents. That is what you have in order to get started in making passive income investments.
And you have a lot more than you think you have, even if you’ve got $0 in the why, that is just one part of the six part equation of what you need to get started creating passive income in your life. So let’s just kind of break it down. Just different questions that you should ask yourself that maybe you’re not asking yourself to get what you want. So if you think about your money, well, how much do you have in the bank and how much is in your wallet? That’s what most people stop at.
But even then, how much do you have in your retirement account? Because sometimes you can collateralize an equity line of credit in order to make passive income purchases based on a collateralizing it against your retirement account. OK? And do you have good credit? Like if you don’t have good credit and don’t worry, there’s strategies out there for you as well, but if you have good credit, that certainly helps too because you can get other people’s money in the form of a bank loan.
And do you have equity in your house? If you’ve got equity in your house, then that again is something that you can pull out to use to make investments and can you get a bank loan? OK, that’s all. That’s all. Andrea your money. Now, when we’re talking about other people’s money, opm, do you know of any private lenders and if you don’t know of any private lenders, can you learn about how to find private lenders?
And then what about your circle of influence? Think about everybody in your family, all of your friends, all of your acquaintances. Does anybody have money to invest that might want to partner with you? OK, that is part of your capital as well. And then you know a, a, a phrase that is pretty true that I’ve seen true in my life is your network is your net worth. OK? So if you can increase your network, you know that’s joining facebook real estate investment groups or passive income groups or your local Rei clubs, local business groups. You know those networks are also channels that you can tap into to find other people’s money to invest with. And then you have time. Capital.
Time is so important and how much time you have is how much money you have and you look at some of the wealthiest people in the world.
They’ve got tons of time because they’ve created it for themselves because they understand how important their time is in creating wealth. So how much time per day can you dedicate to learning something that is a huge, that is, that is a huge amount of capital that you have the ability to create for yourself. And can you dedicate time during the day to finding deals or can you work for free to learn a life changing investment skill? A lot of people who get ahead in life, they go to a mentor and they say, hey look, you’re doing this. Uh, can I please work for free for you to learn this? OK, next is opm. Other people’s time.
The ability to use this kind of capital to make investments requires you to actually be a good leader. But if you don’t have time for yourself, but you are a good leader, then you can utilize and leverage other people’s time as well.
So you’re asking the same questions as your time, but with other people, do other people have the ability? Does anybody who would want to be a partner with you have time to learn something? Can they dedicate time during the day to finding deals? You know, that sort of thing. What other people’s time is, if you’re a good leader, you can leverage that.
And then your talent capital. Most people just need to talents in order to make a million dollars in today’s world. And most of the time it’s the one talent of what you’re passionate about and what you’re good at. Plus the ability to market or sell something. OK?
So that is a talent capital. So the question is, and this is mostly if you’re going to make passive income online, are you an expert at anything? Are you a good negotiator? Are you persuasive? Are you good at selling?
Are you persistent? Are you good at analyzing deals? Are you creative? Are you passionate about any particular topic? Do you have the ability to grab attention and grow an audience? That is talent capital, and that is something huge that thousands of people have leveraged in order to make a million dollars. OK?
And then don’t forget other people’s talents. So if you’re not good at something, granted you’re going to be giving away a little more of a slice of the pie, but say you’re not good at selling or marketing than do you know anybody else who’s talented at selling and marketing and can you pair those talents together? OK?
Are they an expert at anything or are they good at negotiation or they persuasive?
Are they persistent?
Are they good at analyzing deals?
Are they creative?
Are they passionate about any particular topic?
Can they grow an audience?
If you can leverage other people’s talents as well, then that is all part of your capital. OK? So by asking yourself these questions, you will have a much better understanding of your capital outlay, both cash, time, money, and talents. So you might be driving the car right now listening to this. What I’ve done is I’m going to put this on my blog and what I have is a little spreadsheet that you can download called a capital analyzer and I highly recommend just going through that spreadsheet and taking the time.
It will be so helpful to you just to go through and answer all those questions to put down how much money you have, how much money do other people have. And then when you look at it from 500 feet up, you’ll see, wow, I have a lot.
I have a lot more than I had and I’ve got the ability to start pursuing something based off of this capital right here.
I’ve done this with so many people that I’ve mentored so many people on, on how to get started.
And this is always the first step is to look at what you have. So not only will you feel good about it and that gratitude changes your attitude a little bit and you’re able to pursue things, uh, but you’re able to pursue them with a little more confidence. OK? Um, so it’s cash flow data [inaudible], that’s the blog. And uh, and you can get it there and this will just help you more than, you know. So that’s it.
Boom. Now you have a greater idea that you have much more than what you thought and it’s time to be a kid again, right?
It’s time to start pursuing your dreams. Pursue your Rumba. We, you know, what is, what is your freedom? If you’re looking at real estate and you’re like, that is going to be freedom to me. Alright? Then start looking at your capital, not just the money in your bank account and get out there. Start chasing your room, but don’t let people tell you that you can’t and definitely don’t let money stop you.
It doesn’t take money to make money. It takes capital and everything that comes with that. Find your freedom. My name is Ryan Enk and this was Cash Flow Dad Life.
Till 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. It only takes one for more information and for some great passive income investing resources. Check out my website cashflowdadlife.com. Until next time, my name is Ryan Enk and this is Cash Flow Dad Life.