00:00:00
If you rent in your 20s and you rent in your 30s, you're going to turn around in
00:00:04
your 40s and having not built any net worth. And in fact, homeowners in America are worth 40 times more than
00:00:12
renters. And I'm talking about ordinary Americans. >> But that doesn't mean that buying a home
00:00:16
made them rich, right? >> It actually does. And I'm going to go through that.
00:00:19
>> But am I not better off renting and investing in the stock market? I want to
00:00:23
bust this myth because I have spent the last 33 years of my life helping millions of people with ordinary incomes
00:00:30
become financially free. And there's a formula to getting rich, but there's
00:00:34
also a system to how you put your financial life on autopilot in less than 10 minutes. And it doesn't require
00:00:41
discipline, budget, and you don't have to make a lot of money to get started.
00:00:45
But unless your financial plan is automatic, it will fail. But more importantly, I believe the next 10 years
00:00:50
will be the greatest opportunity to build wealth in our lifetime. And yet, seven out of 10 people right now are
00:00:54
living paycheck to paycheck. More than 50% of Americans don't have savings. And
00:00:58
most people don't know where their money goes. And in fact, when we ask people,
00:01:01
how much money would it take to totally change your life? They say $10,000. Now,
00:01:05
how much money do you need to spend a day to blow $10,000 a year? $27.40 a day. If you invested that a day for 40
00:01:13
years, you'd have over $4,424,000. that would be life-changing. >> But just before we get into all of the
00:01:20
specifics and the strategies, do you have any specific advice to people that are currently struggling with debt?
00:01:25
>> Absolutely. There's a very simple formula to getting out of debt called
00:01:28
dole. I tell him to