Financial success requires prudent investment strategies (index funds, tax-free bonds yielding 4-4.5%, and US Treasuries) and acknowledging that luck plays a crucial role in outcomes, as even small changes in life's trajectory could have dramatically different results.
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Listen to his brutal financial advice. 🛑💰 #wealthmindset #investingAdded:
Excuse me, guys. Who's the richest person here?
>> N. You look like money. What was your business?
>> I owned one of the largest law firms in North America.
>> How much money did you make this last year?
>> Last year?
>> Yeah.
>> More than LeBron.
>> More than LeBron. Are you a billionaire?
>> Well, Forbes magazine put me on the cover and said I was. So, Forbes doesn't lie.
>> Could I interview you for one minute real quick?
>> Yeah. Come on.
>> Have you ever been [ __ ] over in business?
>> Yeah.
>> You have?
>> Yeah, but I [ __ ] back.
>> Did you come from a lot of money?
>> [ __ ] Listen, my dad needed a co-signer to pay cash. No, I did not come from a lot of money.
>> So, what was your turning point to financial freedom?
>> I think you're born with it. When I meet people my age, I say, "Were you a paper boy?" Because a paper route is tough.
So, you don't think everybody's built for entrepreneurship?
>> Oh, absolutely not. Look, today in the jungle, a lion's going to be born and a sloth is going to be born. The sloth is [ __ ] and the lion is king.
>> As a billionaire, what's the best financial advice you've ever received?
>> If it smells like dog [ __ ] there's dog [ __ ] If it's too good to be true, it's too good to be true. You're part of the top 1% of the top 1%. Where are you putting your money?
>> I tell your viewers, read these books. A random walk down Wall Street and Black Swan. Where do I put my money? Index funds for equities, tax-free bonds that yields about 4 to 4 and a.5% tax-free, and US treasuries.
>> If you died tomorrow and all you had left was one more guiding principle for the younger generation, what would that be?
>> My best advice for everybody, life is luck. I made a thousand left turns and 1,000 right turns. If I made one different turn, everything could have been [ __ ] different. Everything. And yet I pat myself. Oh, look how great I'm No, I'm a lucky guy. Successful people pat themselves on the back too much.
What they really should do is get on their knees and thank God that those left turns and right turns ended up
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