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V8Bill

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So, back in 2004 I decided to do whatever it took to get myself to a 3 day wealth education seminar being held in Fiji. The tickets cost $2,000 plus I had to fly there and pay for my room (Sheraton) so I had to raise about $4,000. I was broke, I'd just lost my job in IT and I had no idea how I was going to get there. I'd been following this guy for about 10 months and had bought his home study program (yep, I was that guy) and all I knew was that I had to get to that event because I just knew I'd be able to network with others who were similar to me.

I managed to get there but it was tight (financially speaking), so tight that I couldn't afford the $100 (for charity) final dinner party. A few hours before the doors opened I decided that I couldn't afford not to go but only had about $165 left to my name. I was in a foreign country with very little cash and I was about to blow more than half of what I had left on a $100 dinner - had I lost my mind? Of COURSE I had to go. So I went downstairs, walked up to the greeting table and asked to buy a ticket. It was sold out.

I gasped and begged and there was nothing they could do - sold out. Refusing to take no for an answer I went back upstairs and put on my best flamed hot rod shirt and shorts and decided to just stand at the doors while everyone filed past me. I instructed the staff that if anyone cancelled I wanted to buy the ticket. The room filled while I stood at the door saying Hi to people as the walked in dressed to the nines. My flamed shirt stood out (I have photos) so there was much laughter. People even started pleaded for me to be let in to the staff but nope - sold out.

Then one of the older staff ladies at the desk winked and nodded me in - for free. So cool, I was bouncing. Took a deep breath let it out slowly and walked in (hands up who loves walking into parties alone) looked around and there was only one table left but it was completely empty. Apparently a whole table had cancelled so I had a spot...by myself...at a 12 person table...lol Oh well, better than nothing and I felt good that I was making fate my bitch.

Now, at that pointed I gave more than zero F*cks what people thought of me and I knew I'd feel like a total nork just sitting at a table by myself so I had to think fast. In an instant I formulated what I thought was a perfect plan. I'd mosy on to the buffet all stylish and casual like and grab a plate buying me the time needed for some people to walk in and sit at the big empty table. I'd walk up to them, ask them if this seat was taken and presto - I'd be networking.

Well, no one did. What ended up happening was in my nerves I ended up just piling more and more onto my plate until I had a mountain of food I could barely hold up with one hand. Fortunately just at that time a couple walked in and sat at the table so cool and casual I walked over, delivered my line. They looked at me, looked at all the food on my plate, chuckled and said "sure".

The ice breaker was my telling the story of the last few hours which had us all laughing. I asked "so, what do you do?" (MJ...you'll like this); "I sell insurance on the stock market". I'd only just had an intro seminar to options so selling credit Put spreads was totally foreign to me but sounded interesting so we spoke about that and he quickly explained. Fascinating.

So, where are you guys from? I asked. Ends up we live in the same city and not 3 suburbs from each other. I love shit like that. We had a great time, ended up quite pissed at the bar by the end of the night. Totally memorable night. Changed my life. Because, he'd written and was selling an e-book on his total strategy for $97 which he said he'd send me when the got back home in a few weeks. They were going to extend their tropical island stay beyond the seminar. This was before smart phones so I said cool but honestly I was a bit miffed because I wanted to read more about this "selling insurance" lark right now - not in "a few weeks". I wanted to take action. Lots of action.

When I got back home I was on fire. I felt like a lava ball being shot out of a canon in Fiji and shooting me all the way over the ocean to my home in South Australia where I exploded in a massive fireball of enthusiasm and super fired up (as one does). But I just couldn't wait 2 weeks to find out more. I wanted to know more immediately so I justified saving on the free dinner party and spent the $97 to buy the book. In the next 2 weeks I studied the book and looked up option prices in the newspaper, used my big white board to draw out pay-off diagrams until I understood how selling "insurance" to the stock market worked and I was fascinated.

When he got back I contacted him and he invited me around to his (super nice) house for a coffee. I could feel the big wheels turning and while there I asked if it was ok to ask him a few questions about his method. I wasn't sure how much someone like him would want to share so I started by asking him if he could share his watch-list with me. I knew how credit put spreads worked but wasn't sure which of the 200 top stocks I should be watching. "Sure, I only look at 12 anyway" he said and rattled them off. Major, major leap in understanding...I was taking leaps of learning.

"Is there any chance you could show or send me a few trades you've done before so I can kind of get a feel of how you do it exactly?" I asked tentatively, not knowing how far to push it. "I was going to anyway" he said "It's easier for me to show you anyway. Not only that, I'll go you one better I'll send you my next trade so you can follow along". I was gob smacked. Who does that?

So over the next few weeks he did that. Then, just out of the blue (and because of how incredibly helpful seeing his real trades was to me) I said "you know, I reckon people would pay to watch you trade". He asked me what I meant and I wasn't sure myself so I said "I don't know, maybe to an email list or something? Maybe a forum?" I can remember it as if it was yesterday. He got a real dark look on his face and said "no F*cking way. I'm not getting involved in no forum. They always end up in shit fights - 100% not interested". Ok, a bit of a kick in the balls but I knew the power of forums. I had run a few before and was a huge fan and I knew vBulletin so I made him this proposal.

"What if I run it for ya? I'll do absolutely every single thing. I'll be the website manager in charge of everything. All I'd need from you is the trades you're doing." He paused and stared at me right in the face for at least 10 seconds (count them out) and said "ok, let's do it. I have a buddy who's into marketing, we'll go thirds in a new company, my accountant will set it up.

The next few weeks were a whirlwind of logos, trust deeds and FTP but before the month was out we were live. It was crude but it worked and people were loving it. I was catapulted into being a director of a company that was making pure profit from day one. The only hard costs we had were a dedicated server (I'm ex-IT) and some artwork and other tiny costs. Marketing was a bit of a gift because he was in good with the guy who was running the Fiji seminars and in fact was there as an affiliate teaching the other affiliates on the 4th day all about his Selling insurance method" so we had access to dozens of eager traders.

We charged $97 for the e-book then if they wanted to watch him trade it was $97 a month or 12 months for $997 (buy 10 get 2 free). We never discounted and we never gave any away. That was a great lesson in posture. Rolls Royce don't have discounts, they have waiting lists. We didn't have waiting lists but we had a Rolls Royce. At that time no one was selling signals (that I was aware of) so I felt a bit like a pioneer. From day one it was a total blast.

We were pulling in thousands and thousands and thousands of dollars. I couldn't believe what was happening to me. They couldn't believe what was happening. Every day and often every hour I was being notified of either a new payment or another payment. We used simple Paypal subscriptions. I ran it for about 2 years and for most of that time my share after costs was regularly $20-30k per month. I even started to speak on stage myself (for the first time in my life) and I even ended up talking on the same stage in Fiji the next year. I received a standing ovation for my first public speech...ON THE WAY UP! Then another 20 seconds (at least) of loud clapping, cheering, whistling and wooting at the end and I finished on time and even won an award for "most on time speaker" because I finished almost to the second at the end of my allotted time slot (while every other speaker ran overtime). True story. The shot on my book is of me talking at that event.

So anyway after about 2 years I decided to exit. We'd given 10% share to a guy with a computer science degree to handle all the tech, some months he alone was making $10k for his share. $100k was about our biggest month. I did my sums and thought my 1/3 share was worth (little finger stuck in the corner of my mouth) $1 MILLION dollars! They laughed and they laughed and they laughed...oh how they laughed. Their estimate was about $100k (more money than I'd ever seen in my bank account) but I held on and eventually got $650,000 for my share. I have permission from them to share this when I was writing my book about what happened to me next so it's a matter of public record.

January 1st 2007 I was staring at $650,000 cash in my trust's bank account. I like writing and playing with words amuses me but it's not easy to convey how that felt. I was the class clown, the guy who would've been voted least likely to be considered for to be printed on the ballot of the list of most likely to fail. Average C grade student and my life up until then was one great big throbbing example of what happens when you don't pay attention at school and just F*ck around like it's some big joke - so off to the factory life I went. By the time I'd left the work force in 2005 I'd counted at least 65 different jobs from street sweeper, burger flipper, truck driver, welder, pushing petrol/gas into cars, unemployed many, many times. Just a general working bum.

Anyway, as interesting as that story was, it's what happened after that that's the real story here. Imagine how rich I felt. There was not a shop, department store or car yard I could walk into that sold anything I could not afford. I could buy anything for sale in my city. Even a house or two if I wanted.

The story isn't really about what I've done with the money since then as that's a million little stories but the biggest thing I discovered was that I felt like a millionaire. I felt rich, really really rich! Nothing financial bothered me. All financial stress had immediately been lifted off my shoulders. I bought a supercharged V8 car and drove around the country up and down totally lost half the time with no aims or goals other than to thrash the bejeesus out of my very powerful (ex race) car and hunt down winding roads along the eastern states of Australia. I did that until I blew the engine, rebuilt it for $20k then eventually snaked my way back home.

Over the next few months I entertained anyone who'd listen while I regaled stories of my new found "Urban Wealth" (as I'd coined it) and freedom. Then something started to raise itself in a theme in all my stories and people started to really dig my message. You just don't need to be a millionaire to feel rich or wealthy. Sure there's always room for more money but as far as how much it takes to make you feel like a rich dude or dudette it's far less and financial freedom was much closer than I'd ever imagined because even up to the point of my exit I believed that unless you're a millionaire you're not (nor should you call yourself) a millionaire and everyone knows you have to be a millionaire to be free - right. Wrong.

Anyway, over the next few years as I bumped into and spoke to more and more people about my story (not forced onto anyone - but I was asked about it a lot) people started saying "man you should write a book about this". It wasn't so much about the story of how I made the money but I'd come up with a little formula to try to explain to people how much money you needed (as a minimum) to feel wealthy. I called it "The 2X Method" (pronounced two ex - not two times) and here it is, my own little global formula for wealth.

My global and universal formula for wealth is this;

2X=F/(H+P)

Legend:
X = Essential Expenses
F = Freedom
H = Hobbies
P = Passions


Basically this...

All you need is double your essential expenses (2X) as income to feel wealthy, have the financial freedom to indulge your hobbies, pursue your passions and live an exciting, satisfying and interesting life.

It's so simple. You don't need to be a millionaire to be or feel wealthy. However if you do become a millionaire that's awesome too but just make sure you never spend more than half your income on essential expenses or you'll just feel poor again no matter how much money you're making. I call it "bouncing off broke". If you think it sucks being broke on your current income it's even worse being broke as a millionaire.

I believe (know) that wealth isn't measured by how much money you have. Wealth is measured by how far you are from financial stress. Keep that in mind as you travel down your path to wealth and you'll get there much quicker and can stay there if you like. As long as you have no financial stress you'll feel wealthy. I know this for a fact, have bounced the concept of over 1,000 active entrepreneurs and with an over 99.8% success rate of transforming and influencing people's money mindset, I know I'm onto something.

So, the book I wrote is now (self published), getting great reviews and I'm changing lives. That feels so cool. Anyway, I'm not here to sell anything because I want to actually give you guys the whole book to (hopefully) enjoy. Not only that, I recorded myself reading the book and am super proud to also offer you the audio book as well.

iphone_book-covers-600x464-png.14975

If you want to listen to me reading the entire book to you just click here. It's a 250mb zip file that contains the PDF and the entire audio-book as an MP3 (recorded on a Blue Yeti for audiophiles) which only takes 150 minutes to read. I call it "movie length". It's best listened to in a single sitting, without distractions, preferably staring out a window with a headset. Try not to stop and start it.

Or click here to open the PDF. I will not make any money by doing this but I don't think it fair that my marketing skills (or lack there of) to stand in the way between this important message and you. I'm guessing I'll pick it up on the karmo-go-round later

Thank you @MJ DeMarco for providing us this forum. I came across your book way after I wrote mine (it was finished in it's first form in 2010) I knew we were sympatico and that's why I hang out here. So now it's my turn, this is my gift to you all.

I'd like nothing better than discuss anything and everything so ask away - it's my most favourite thing to talk about, my aim is to speak on stages and podcasts around the world wherever active entrepreneurs gather as I really believe this message is the reason I was placed on this earth (if there is such a thing). I don't mind giving it away to you guys because I know that many of you will dig it.

Ask me anything. It's a great story with loads of great and often eye opening lessons - and I love telling it.
 
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Vigilante

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You are a terrific writer. I grabbed the downloads just because I wanted to see the more in depth version. Hopefully this is not a setup for a guru sales pitch, but I really enjoyed reading your story. A quick scan of the download has me back to report that it seems your offer is genuine and generous.
 

V8Bill

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Thanks man. Nope, pure gift. This is a globally important message (said the author...lol). Tonight I decided that spreading this message is more important than my wallet. I don't want anyone's email, there's nothing in the the zip but two files. The PDF and the MP3. The same deliverable that people used to get when they bought it.

Edit added: So awesome I'm been "accused" of guruism. I'm just a dag like the rest of us. The joy I see in people's faces as they're overcome with a sudden rush of financial clarity is my reward.
 
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Waspy

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I've said it before, but I love your approach. It's one I've shared for a long time.

I never put a figure on the amount I want to earn. If I am free, I will be happy.

I'll be listening to the audiobook soon!
 
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V8Bill

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Appreciate it man, this my life's most important work. It seems to resonate with a lot of people like us. It's not like it's totally knew but the way I express it seems to make sense. Sometimes it just takes a fresh perspective for everything to make sense. Using this formula you can track your progress. Most people live a slowlane life on about 1.2X. They pay the bills and have a few hundred left each week (if they're lucky). By just doubling their current income while maintaining their current expenses they feel this massive weight lift - I've seen the look on faces. I'm a lucky guy.

I've even bounced it off a few bonefide millionaires and they say I've got it spot on correct. I've even had people say that by understanding this simple formula I've made them wealthy instantly. They're usually living on 3 or 4X - not millionaires but no financial stress either. They were wealthy and didn't even know it. They thought that unless they were millionaires they'd never be wealthy.

I have so many stories to share. Just ask me or shove a beer in my hand. This experience has juiced a real interest in wealth philosophy. People have called me many things in my life but my favourite is "The Wallet Whisperer"...lol.
 
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V8Bill

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Wow! Notable already! You guys are too kind. I bow.

By the way, I hope the power of $97 a month wasn't lost on some of you. I don't think we ever reached 1,000 members. All we had to do was provide a valuable service for a reasonable price to a few hundred people who really needed it. Just as we're all told to do here.
 
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MitchC

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I listened a while ago when you first posted this and it's a great book!

Funny story, I live in Aus and in my apartment building theres a yellow mustang in the carpark with RDO number plates I had to look your profile up on here up to see was it yours, they also have a white more practical luxury car with the same plates just 1 number different. Not sure if it's their initials or rest day off but I think they're retired and have the penthouse so maybe they had the same thought as you but couldn't get the 365 :)

Anyway, good book and even better story! Thank you for sharing it again!
 
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V8Bill

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Yeah, RDO.365 is a classic number plate which I take from car to car. RDO stands for "Rostered Day Off" a nod to the practice of Australian work places where people work a few extra hours per week and it adds up to one rostered day off per month - something everyone looks forward to. I count the days since I last went to a job. Today is my 4,476th day off in a row. I know it's a bit silly to some but it amuses me to count them.
 

LuckyPup

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"Wealth is measured by how far you are from financial stress."

Fantastic story, maverlously written! Thanks so much for sharing, and my main takeaways are your formula and the quote above. It's something I've known, but you've put it so well and so succinctly. Bravo! Rep given!
 

V8Bill

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Thanks LP. I think it explains why some people are very happy with their current incomes and have no desire to become wealthier - they're just happy where they are, probably because they control their finances and have enough to spend on fun and luxury in their own way and to their own scale. Using my formula I think we should take a global recount and we'd be surprised that contrary to popular opinion many people aren't as poor as they think they are. Some people have achieved (my definition of) wealth just by going super minimalist and though I'm glad for them that's not what I'm advocating. Spend as much as you want on anything you want - just make sure your essential expenses (the things that stress us out every day) are less than half your income.

It's theoretically possible to feel wealthy on a minimum wage if you live cheaply enough. As people grow they can increase their lifestyle as long as they always maintain that crucial 50/50 ratio of income to essential expenses.
 
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LuckyPup

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Thanks LP. I think it explains why some people are very happy with their current incomes and have no desire to become wealthier - they're just happy where they are, probably because they control their finances and have enough to spend on fun and luxury in their own way and to their own scale. Using my formula I think we should take a global recount and we'd be surprised that contrary to popular opinion many people aren't as poor as they think they are. Some people have achieved (my definition of) wealth just by going super minimalist and though I'm glad for them that's not what I'm advocating. Spend as much as you want on anything you want - just make sure your essential expenses (the things that stress us out every day) are less than half your income.

It's theoretically possible to feel wealthy on a minimum wage if you live cheaply enough. As people grow they can increase their lifestyle as long as they always maintain that crucial 50/50 ratio of income to essential expenses.

I agree. I think there are three ways to be wealthy: increase one's income, reduce one's expenses, or both. Do whatever it takes to hit one's "financial freedom number." While I agree with MJ's opinion that we shouldn't spend our lives in deprivation in order to become "latte millionaires," I learned that there's a lot of freedom in minimalism / essentialism. I call it "de-crapifying" my life. I also think that one can become wealthy by building an asset and cashing out (the stereotypical millionaire, earning interest on a $$$ nut as MJ and many others have done), or by building diverse, passive income streams without the $$$ nut. My goal is to do both, but if I never hit it big, I will still have created the passive income streams, as well as the skills to create more should some of them dry up.

Your post was great, and I've downloaded the file. Thanks again for sharing it!
 
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V8Bill

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You're right, just having a lot of money doesn't always make you wealthy if it's badly managed and we do what most people do when they make a lot of money and that's increase our lifestyle prematurely. I call that "dragging the lion" in the book. Making more money is only part of the equation. If we don't know where we are on the "2X wealth line" we may never be free of financial stress no matter how much money we make. One guy makes an extra $10,000 a month and thinks he's only just started. Another guy makes an extra $10,000 a month and feels like the richest person on earth. A simple and (perhaps more importantly) relevant definition of wealth was needed. I argue this is it.
 
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JAJT

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Awesome story - loved it :)

You know, I went into business with your 2x approach (even if I never called it that) in mind from day 1 a few years back. I recall sitting at my cubicle thinking "I work my a$$ off here for peanuts, almost anything I could do solo would make this at LEAST, and the upside is much more, if I just made more than I could at a normal job, I'd feel successful".

It really doesn't take much to be "free". If someone is pulling in 3k per month from their job, that's just $100 profit per day. That's 10 sales of a $20 product with 50% margins. You can fiddle with the numbers quite a bit but there's no scenario where the upside looks out of reach. Now, it may not be "easy" to hit those "within reach" numbers and it might take some time to get there but 100% totally doable for anyone willing to put in the time and effort.

Thanks for sharing your story. I think these kinds of stories are highly inspiring :)
 
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V8Bill

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You're right man, financial freedom is way closer than we think. And I insert myself into that because I had a poor money mindset before my NWE. Making 2X isn't easy but like I say it's a hell of a lot easier than making millions your focus. Millions will come by serving many people but I just proved what you're stating - you don't have to help that many people to gain real and exciting wealth and cubic dollars. We just have to let go a little of what I call "millionairism" which I call a “belief disease” where people have the false belief that they need to become millionaires in order to achieve (or even taste) financial freedom. It's just not true.

And knowing this actually makes people take more action sooner because they can suddenly that wealth is really close. During my mindset sessions I ask people who much money they want to make. Usually they have a very large amount (many millions) in mind. 3 hours later I ask the same question and the answer is suddenly only thousands and this motivates the shit out of them. MLM leaders (seem to) love me because I motivate the crap out of their team. How long that motivation lasts depends on the business vehicle but I sure get them started. I like replicating the Lava ball effect I experienced. It gives me joy.

*not advocating mlm - just saying.
 
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So, back in 2004 I decided to do whatever it took to get myself to a 3 day wealth education seminar being held in Fiji. The tickets cost $2,000 plus I had to fly there and pay for my room (Sheraton) so I had to raise about $4,000. I was broke, I'd just lost my job in IT and I had no idea how I was going to get there. I'd been following this guy for about 10 months and had bought his home study program (yep, I was that guy) and all I knew was that I had to get to that event because I just knew I'd be able to network with others who were similar to me.

I managed to get there but it was tight (financially speaking), so tight that I couldn't afford the $100 (for charity) final dinner party. A few hours before the doors opened I decided that I couldn't afford not to go but only had about $165 left to my name. I was in a foreign country with very little cash and I was about to blow more than half of what I had left on a $100 dinner - had I lost my mind? Of COURSE I had to go so I went downstairs, walked up to the greeting table and asked to buy a ticket. It was sold out.

I gasped and begged and there was nothing they could do - sold out. Refusing to take no for an answer I went back upstairs and put on my best flamed hot rod shirt and shorts and decided to just stand at the doors while everyone filed past me. I instructed the staff that if anyone cancelled I wanted to buy the ticket. The room filled while I stood at the door saying Hi to people as the walked in dressed to the nines. My flamed shirt stood out (I have photos) so there was much laughter. People even started pleaded for me to be let in to the staff but nope - sold out.

Then one of the older staff ladies at the desk winked and nodded me in - for free. So cool, I was bouncing. Took a deep breath let it out slowly and walked in (hands up who loves walking into parties alone) looked around and there was only one table left but it was completely empty. Apparently a whole table had cancelled so I had a spot...by myself...at a 12 person table...lol Oh well, better than nothing and I felt good that I was making fate my bitch.

Now, at that pointed I gave more than zero F*cks what people thought of me and I knew I'd feel like a total nork just sitting at a table by myself so I had to think fast. In an instant I formulated what I thought was a perfect plan. I'd mosy on to the buffet all stylish and casual like and grab a plate buying me the time needed for some people to walk in and sit at the big empty table. I'd walk up to them, ask them if this seat was taken and presto - I'd be networking.

Well, no one did. What ended up happening was in my nerves I ended up just piling more and more onto my plate until I had a mountain of food I could barely hold up with one hand. Fortunately just at that time a couple walked in and sat at the table so cool and casual I walked over, delivered my line. They looked at me, looked at all the food on my plate, chuckled and said "sure".

The ice breaker was my telling the story of the last few hours which had us all laughing. I asked "so, what do you do?" (MJ...you'll like this); "I sell insurance on the stock market". I'd only just had an intro seminar to options so selling credit Put spreads was totally foreign to me but sounded interesting so we spoke about that and he quickly explained. Fascinating.

So, where are you guys from? I asked. Ends up we live in the same city and not 3 suburbs from each other. I love shit like that. We had a great time, ended up quite pissed at the bar by the end of the night. Totally memorable night. Changed my life. Because, he'd written and was selling an e-book on his total strategy for $97 which he said he'd send me when the got back home in a few weeks. They were going to extend their tropical island stay beyond the seminar. This was before smart phones so I said cool but honestly I was a bit miffed because I wanted to read more about this "selling insurance" lark right now - not in "a few weeks". I wanted to take action. Lots of action.

When I got back home I was on fire. I felt like a lava ball being shot out of a canon in Fiji and shooting me all the way over the ocean to my home in South Australia where I exploded in a massive fireball of enthusiasm and super fired up (as one does). But I just couldn't wait 2 weeks to find out more. I wanted to know more immediately so I justified saving on the free dinner party and spent the $97 to buy the book. In the next 2 weeks I studied the book and looked up option prices in the newspaper, used my big white board to draw out pay-off diagrams until I understood how selling "insurance" to the stock market worked and I was fascinated.

When he got back I contacted him and he invited me around to his (super nice) house for a coffee. I could feel the big wheels turning and while there I asked if it was ok to ask him a few questions about his method. I wasn't sure how much someone like him would want to share so I started by asking him if he could share his watch-list with me. I knew how credit put spreads worked but wasn't sure which of the 200 top stocks I should be watching. "Sure, I only look at 12 anyway" he said and rattled them off. Major, major leap in understanding...I was taking leaps of learning.

"Is there any chance you could show or send me a few trades you've done before so I can kind of get a feel of how you do it exactly?" I asked tentatively, not knowing how far to push it. "I was going to anyway" he said "It's easier for me to show you anyway. Not only that, I'll go you one better I'll send you my next trade so you can follow along". I was gob smacked. Who does that?

So over the next few weeks he did that. Then, just out of the blue (and because of how incredibly helpful seeing his real trades was to me) I said "you know, I reckon people would pay to watch you trade". He asked me what I meant and I wasn't sure myself so I said "I don't know, maybe to an email list or something? Maybe a forum?" I can remember it as if it was yesterday. He got a real dark look on his face and said "no F*cking way. I'm not getting involved in no forum. They always end up in shit fights - 100% not interested". Ok, a bit of a kick in the balls but I knew the power of forums. I had run a few before and was a huge fan and I knew vBulletin so I made him this proposal.

"What if I run it for ya? I'll do absolutely every single thing. I'll be the website manager in charge of everything. All I'd need from you is the trades you're doing." He paused and stared at me right in the face for at least 10 seconds (count them out) and said "ok, let's do it. I have a buddy who's into marketing, we'll go thirds in a new company, my accountant will set it up.

The next few weeks were a worlwind of logos, trust deeds and FTP but before the month was out we were live. It was crude but it worked and people were loving it. I was catapulted into being a director of a company that was making pure profit from day one. The only hard costs we had were a dedicated server (I'm ex-IT) and some artwork and other tiny costs. Marketing was a bit of a gift becuase he was in good with the guy who was running the Fiji seminars and in fact was there as an affiliate teaching the other affiliates on the 4th day all about his Selling insurance method" so we had access to dozens of eager traders.

We charged $97 for the e-book then if they wanted to watch him trade it was $97 a month or 12 months for $997 (buy 10 get 2 free). We never discounted and we never gave any away. That was a great lesson in posture. Rolls Royce don't have discounts, they have waiting lists. We didn't have waiting lists but we had a Rolls Royce. At that time no one was selling signals (that I was aware of) so I felty a bit like a pioneer. From day one it was a total blast.

We were pulling in thousands and thousands and thousands of dollars. I couldn't believe what was happening to me. They couldn't believe what was happening. Every day and often every hour I was being notified of either a new payment or another payment. We used simple Paypal subscriptions. I ran it for about 2 years and for most of that time my share after costs was regularly $20-30k per month. I even started to speak on stage myself (for the first time in my life) and I even ended up talking on the same stage in Fiji the next year. I received a standing ovation for my first public speach...ON THE WAY UP! Then another 20 seconds (at least) of loud clapping, cheering, whistling and wooting. True story. The shot on my book is of me talking at that event.

So anyway after about 2 years I decided to exit. We'd given 10% share to a guy with a computer science degree to handle all the tech, some months he alone was making $10k for his share. $100k was about our biggest month. I did my sums and thought my 1/3 share was worth (little finger stuck in the corner of my mouth) 1 MILLION dollars! They laughed and they laughed and they laughed...oh how they laughed. Their estimate was about $100k (more money than I'd ever seen in my bank account) but I held on and eventually got $650,000 for my share. I have permission from them to share this when I was writing my book about what happened to me next so it's a matter of public record.

January 1st 2007 I was staring at $650,000 cash in my trust's bank account. I like writing and playing with words amuses me but it's not easy to convey how that felt. I was the class clown, the guy who would've been voted least likely to be considered for to be printed on the ballott of the list of most likely to fail. Average C grade student and my life up until then was one great big throbbing example of what happens when you don't pay attention at school and just F*ck around like it's some big joke - so off to the factory life I went. By the time I'd left the work force in 2005 I'd counted at least 65 different jobs from street sweeper, burger flipper, truck driver, welder, pushing petrol/gas into cars, unemployed many, many times. Just a general working bum.

Anyway, as interesting as that story was, it's what happened after that that's the real story here. Imagine how rich I felt. There was not a shop, department store or car yard I could walk into that sold anything I could not afford. I could buy anything for sale in my city. Even a house or two if I wanted.

The story isn't really about what I've done with the money since then as that's a million little stories but the biggest thing I discovered was that I felt like a millionaire. I felt rich, really really rich! Nothing financial bothered me. All financial stress had immediately been lifted off my shoulders. I bought a supercharged V8 car and drove around the country up and down totally lost half the time with no aims or goals other than to thrash the F*ck out of my very powerful (ex race) car and hunt down winding roads along the eastern states of Australia. I did that until I blew the engine, rebuilt it for $20k then eventually snaked my way back home.

Over the next few months I entertained anyone who'd listen while I regaled stories of my new found "Urban Wealth" (as I'd coined it) and freedom. Then something started to raise its;ef in a theme in all my stories and people started to really dig my message. You just don;t need to be a millionaire to feel rich or wealthy. Sure there's always room for more money but as far as how much it takes to make you feel like a rich dude or dudette it's far less and financial freedom was much closer than I'd ever imagined because even up to the point of my exit I believed that unless you're a millionaire you're not (nor should you call yourself) a millionaire and everyone knows you have to be a millionaire to be free - right. Wrong.

Anyway, over the next few years as I bumped into and spoke to more and more people about my story (not forced onto anyone - but I was asked about it a lot) people started saying "man you should write a book about this". It wasn't so much about the story of how I made the money but I'd come up with a little formula to try to explain to people how much money you needed (as a minimum) to feel wealthy. I called it "The 2X Method" (pronounced two ex - not two times) and here it is, my own little global formula for wealth.

My global and universal formula for wealth is this.

2X=F/(H+P)

Legend:
X = Essential Expenses
F = Freedom
H = Hobbies
P = Passions


Basically this...

All you need is double your essential expenses (2X) as income to feel wealthy, have the financial freedom to indulge your hobbies, pursue your passions and live an exciting, satisfying and interesting life.

It's so simple. You don;t need to be a millionaire to be or feel wealthy. However if you do become a millionaire that's awesome too but just make sure you never spend more than half your income on essential expoenses or you'll just feel poor again no matter how much money you're making. I call it "bouncing off broke". If you think it sucks being broke on your current income it's even worse being broke as a millionaire.

I believe (know) that wealth isn't measured by how much money you have. Wealth is measured by how far you are from financial stress. Keep that in mind as you travel down your path to wealth and you'll get there much quicker and can stay there if you like. As long as you have no financial stress you'll feel wealthy. I know this for a fact, have bounced the concept of over 1,000 active entrepreneurs and with an over 99.8% success rate (of implanting what I call the "ultimate money mindset" I know I'm onto something.

So, the book I wrote is now (self published), getting great reviews and I'm changing lives. That feels so cool. Anyway, I'm not here to sell anything because I want to actually give you guys the whole book to (hopefully) enjoy. Not only that, I recorded myself reading the book and am super proud to also offer you the audio book as well.

If you want to listen to my whole philosophy on money, wealth and freedom just click here. It's a 250mb zip file that contains the PDF and the entire audio-book which only takes 2.5 hours to read.

Or click here to open the PDF. I will not make any money by doing this but I don't think it fair that my marketing skills (or lack there of) to stand in the way between this important message and you. I'm guessing I'll pick it up on the karmo-go-round later

Thank you @MJ DeMarco for providing us this forum. I came across your book way after I wrote mine (it was finished in it's first form in 2010) I knew we were sympatico and that's why I hang out here. So now it's my turn, this is my gift to you all.

I'd like nothing better than discuss anything and everything so ask away - it's my most favourite thing to talk about, my aim is to speak on stages and podcasts around the world wherever active entrepreneurs gather as I really believe this message is the reason I was placed on this earth (if there is such a thing). I don't mind giving it away to you guys because I know that many of you will dig it.

Ask me anything. It's a great story - even if I say so myself - and I love telling it.
My God! Reps+!!!!
You know, that formula for wealth, 2X=F/(H+P), you suggested is the same one I target and subscribe to mentally besides the MJ equations!
Except I never took the time to put it algrebraically. Thanks a bunch! But to be safer, I actually target up to 3X at full potential so that my Fastlane has a slightly higher ceiling range! Cardone fans might scream '10X', but I think I'll be realistic.

Crazy story on no F*cks given.
Love it! I did similar networking scenerios at youth uniform group conventions back in high school, and it was cutthroat, but beat mediocrity as a nerd student. I'm not going to derail this thread with my story. Just don't give a F*ck to the SCRIPT.

EDIT: Very good read! In line with the money as a money tree strategy, as well as some finance management strategies. This will help me well to plan for a degree of financial security before going for bigger targets. Very balanced know-how along with the big picture of the psychology of 'millionairism' (that's what you call it?) to pair with finances.

This will be on my to-go-to read list besides TMF and UNSCRIPTED . Thanks again, and I hope you expand further on similar concepts...there's an opening.
 
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V8Bill

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Hehe, wow, thanks man. When you listen or read the book you'll see there's "no such thing" (in my world) as 3X. Anything made over 2X gets banked to build up a "lifetime supply of cash". Thanks for the reps in fact thank you EVERYONE for the reps! OMG right back at ya. I love the effect sharing this has on people. I've said it before - I'm a lucky guy.

Yeah I get compared to the 10X thing a lot but I think it's a totally different X he's referring to and 2X was written before his book was released (I believe). It's all good but my 2X is two ex not two times like his is ten times. The book will explain in detail what to do with your money from broke to death and beyond (via trusts).
 
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Hehe, wow, thanks man. When you listen or read the book you'll see there's "no such thing" (in my world) as 3X. Anything made over 2X gets banked to build up a "lifetime supply of cash".(via trusts).
Yes. Everyone's situation is different!
I think that you pretty much have everything sorted out! I suspect MJ follows something EERILY SIMILAR to fund his lifestyle without needing to run after the bucks too much.:eek::eek::eek:Just reminds me of a conversation @smarty and I had recently...Calling @smarty! Here's a tip!:playful:

Just for comparison for choosy Fastlaners, there's this Fastlane spreadsheet to calculate stuff according to TMF . Good to have a selection of finance management tools and doctrines...
https://www.thefastlaneforum.com/community/attachments/fastlancecalculator_spreadsheet-jpg.3225/
 

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I'm still in a slow lane job but I have to agree with this philosophy.

My current income is more than 2x my basic expenses and since that has been the case I have little to no stress regarding finances and I have more time and energy to pursue whatever endeavors I want to.

I also perform better at work because I'm not thinking of it in terms of a necessity just to meet my basic needs. I have more than enough saved that I could quit my job tomorrow and still have little to no stress about it.
 

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Hey @V8Bill, you mention in the book that you'd deposit your money in the bank at 5%. Sadly, for most people it's impossible as in most countries you'd be lucky to get even 1% or 2%. How do you ensure you get your "pension" then in such a simple way? I've been looking into this topic for a long time and most solutions are either not that safe (anything related to the stock or bond market), are extremely low-yield (like CDs or savings accounts) or require more work (real estate).
 
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V8Bill

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I'm still in a slow lane job but I have to agree with this philosophy.

My current income is more than 2x my basic expenses and since that has been the case I have little to no stress regarding finances and I have more time and energy to pursue whatever endeavors I want to.

I also perform better at work because I'm not thinking of it in terms of a necessity just to meet my basic needs. I have more than enough saved that I could quit my job tomorrow and still have little to no stress about it.

This is soooo 2X! If you love what you do it's even better. Wealth is about freedom and removing financial stress. If you'd do your job even if you weren't being paid you're as free as any freeman. Bank that extra and leave it there. Use your 2nd X to spend on fun and luxury (which we all need if we're being honest). Fantastic post RS - thanks for posting it. I absolutely feel what you're feeling.

By the way, that's my test for people who get defensive about "quiting their jobs". "I love my job!" they say. To which I reply "would you do it for free? That's the real test. I had a urologist say to me (on a flight back from a Frank Kern seminar in SD in 2009)..."are you kidding?! I'd walk out half way through an operation if they weren't paying me!". Others say yes they would. Typically these are nurses, Ambulance drivers, musicians, artists, some teachers...etc We all have to do something and some people are lucky enough to actually love what they do and (if able) would do it for free. For example I used to LOVE driving cabs and I often did that for free - though not always by choice...lol I just love driving as readers will discover.
 

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Hey @V8Bill, you mention in the book that you'd deposit your money in the bank at 5%. Sadly, for most people it's impossible as in most countries you'd be lucky to get even 1% or 2%. How do you ensure you get your "pension" then in such a simple way? I've been looking into this topic for a long time and most solutions are either not that safe (anything related to the stock or bond market), are extremely low-yield (like CDs or savings accounts) or require more work (real estate).

Great question! 5% will return in the U.S. one day. In Australia I check every time when I go into a branch and at the moment the best we can get on a walk in is about 3.2% locked away for 5 years paid monthly. In India you can get 8% as a citizen at a Post Office savings account (I'm told - haven't checked)! The reason I mention the bank is because (In Australia anyway) it's the lowest risk and therefore the least stress which is my ultimate goal.In Australia we also have a banking deposit guarantee which does make us unique but where there's a will there's a way and if you can't get the full 5% you can get close and it's all relative anyway because you might bank a lot more than you need for 2X. When the time comes just find the safest return you can so you can finally relax (as much as possible).

There's a thread in here that focuses on how people get their 5%. I chose 5% because the maths is easy and to help people get their head around the power of interest. There are government bonds I'm told that will get you close to 5% at the moment but let's say you can't get access to an Australian or local bank account paying 5%pa, you can go the next tier of safety which isn't real estate per say but herein Australia we have an investment class called "defence housing". They offer guaranteed returns, they paint your house when they leave and maintain it. This would be a relatively safer way to make 5% yield. In any case, it could be used as a metaphor as the "safest class" you can find so you can finally relax.

I don't want to be a money hunter my entire life. At some point I want to stop and focus on my hobbies and passions so I've defined an exit point. Another use for the 5% rule is for the unlikely event that one of us wins a lottery. It all goes straight into the bank and the interest is the win.

For those who've yet to read my book; I'll quote from chapter 11...

The 5% Rule is quite simple and its use is for instant and easy income calculation from big money and it goes like this; the amount of millions invested at 5% p.a. interest is (roughly) the same amount of thousands you’ll earn in interest per week. It’s the same first number.

$1,000,000 deposited @ 5% p.a. = $1,000 per week.
$2,000,000 deposited @ 5% p.a. = $2,000 per week.
$3,000,000 deposited @ 5% p.a. = $3,000 per week.
$5,000,000 deposited @ 5% p.a. = $5,000 per week.
$10,000,000 deposited @ 5% p.a. = $10,000 per week.
$38,000,000 deposited @ 5% p.a. = $38,000 per week.
$650,000 deposited @ 5% p.s. = $650 per week


...for the rest of your life. That appeals to me. I like the idea that I could spend all my money and only have to starve until the "next Friday" (illustratively speaking).

Keeping in mind
 

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In any case, it could be used as a metaphor as the "safest class" you can find so you can finally relax.

I don't want to be a money hunter my entire life.

I understand, and agree with your idea. Still, I find it hard not to think in entrepreneurial categories. I chase after the best return I can get even if it doesn't really matter that much for my quality of life to get, say, 8% or 5%. It takes up a lot of time and mental energy to find such investments while I should probably just chill out and find a simple, safe investment with a lower yield.
 
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V8Bill

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Totally understand but the thing with hunting for better returns is they usually carry greater risks as well and the stress creeps back in. You can do a lot better than 5% per annum. The other day I made 362% in 30 minutes (FX). I just wanted to open the possibility that one day people might want to stop stressing about finances. Plus, there's nothing to say you can't achieve that lifetime supply of cash with your first 2 million. Then carry on building more. At least you'll be able to relax knowing that you have 2X covered while you keep growing your business perhaps as a passion. You'll probably make more knowing that you have risk free forever money locked away.

Making money is stressful though. One day (sooner rather than later) I'd like to embark on my ultimate car lovers American road trip to check out all the cool cars and hot rods in every state before moving to the next one...in a hot rod of course. I'd start with the top states in summer and drive across and down as the weather cools. Can't do that if I have to worry about running a business. I want pure and total freedom which is why 5% in the bank is even on the radar. It's nor for maximum investment returns, it's for maximum relaxation which is a return of a different kind.
 

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I've read the book and it's a great read.
I've never got around to thank you for writing it and giving it away for free.

I'm not at the right time in my live to benefit from the whole book - that's why I will pick it up later on.
It gave me a direction to move towards though.


One question I had in the back of my head during the read:

I'm really lucky - I don't really have any monthly expenses.
I'm 19 and am still living with my parents. I don't make enough money to pay a share of the rent or food (yet).
So basically my essential living costs are 0€, and my "passion" costs are not that high either.
If I were to do the math I would be financially free whith earning 100€ a month - isn't that great? haha

Do you have any ideas on how to calculate a future X that will occor, but you don't know how big it is going to be?
Aka how do I calculate an X that takes my growth in live (having a place to live, getting kids, buying a car) into consideration?


The first answer I gave to myself is to get out and live to find out that number and than adjust your 2X plan so it suits your new life.


EDIT: How rude, I hijacked the thread without commenting on the first post! That story was really interesting and funny to read, thank you for sharing.
One can see that you enjoy writing :)
~ Ika
 

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Another great question Ika! Thank you and you're welcome.

Yes, there is a problem with young folk still living at home with zero essential expenses because (generally) you haven't experienced financial pain yet. The rest of us want to get rid of financial pain and stress. The best advice I can give a young person in your position is to start and live your entire adult life obeying the 2X Method. When you move into your own apartment calculate your essential expenses and don;t do it unless you're earning at least twice that amount. That'll make you one smart cookie able to enjoy all the good things young people enjoy but you'll be doing it from the strength of financial clarity and intelligence.

In the book I write about the Three Pocket system for managing money. Use that and you'll always have money for the bills (lol - no pun intended), plus you'll have enough for some fun and luxury and if you make more than you need you'll be banking it and building your own lifetime supply of cash. Very few young people know this - you now do. You have an edge. They should teach this stuff in schools (I'm often told) and then perhaps our youth would have a better run of it. You're a lucky guy. Please try to explain this to your friends. All you need is a napkin and the formula 2X=F/(H+P) and to explain it. I can't do this all by myself; you'll have to "do" your friends for me. ;-)

Edit added:
If you're not sure what your 2X will be just aim for $1,000 a week for X. In over 1,000 mindset sessions I've had in many countries nearly everyone has agreed that $1,000 a week should be more than enough to run an average household. If it's not then maybe $1,000 per adult per week will work just as well. The exceptions are people living in NYC, Sydney, Hong Kong...etc but when I ask "is $2,000 a week enough" most say yes. But regardless, whatever your essentials are that's your X. Double it and you have your first aim/goal. Your X will vary depending on what sort of essentials you build into your life which is why this formula works so well because the variable X can always be used to see where you are on your "wealth line".
 
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It's nor for maximum investment returns, it's for maximum relaxation which is a return of a different kind.

Love this, thanks.
 

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@V8Bill - Love the story, not just for the wealth aspect, but another equally important lesson - adding value. The whole way through your story this theme ran through it. It was never about how to make all the money as the first thought, it was what could you do to add value to others (which in turn will always getting the money flowing if you do it right).

And it doesn't go unnoticed that the free download is another example of that. Thank you for the lesson and the generosity.
 

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LOL @V8Bill I was reading this awesome story and getting so psyched and then when you started on about your book I was like holy cow it's YOU! I've already bought your book and talked to you on skype. This story made me want to buy it again hahaha.
 
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@V8Bill - Love the story, not just for the wealth aspect, but another equally important lesson - adding value. The whole way through your story this theme ran through it. It was never about how to make all the money as the first thought, it was what could you do to add value to others (which in turn will always getting the money flowing if you do it right).

And it doesn't go unnoticed that the free download is another example of that. Thank you for the lesson and the generosity.
Totally welcome and you know, I gave because I had nothing else to give but my time, my existing skills (though I had to learn a few along the way - it was a joy and never a chore), my enthusiasm (which was needed when managing the community) and I did it all just by supporting others. I wasn't the commodity or the talent, I just supported the guy who was. There are many lessons in my story. One of them is "find a lazy genius and make them rich with your existing skills and/or enthusiasm". It works or at least, it did for me.

Finding such people isn't very easy but I didn't know I'd find one on remote tropical island in the middle of the ocean but that's where they were so that's where I went. I had no plan, no money and no ideas so I just pushed myself around and pulled opportunities to me with questions and humour. It worked and although it never made me a millionaire I reckon I've pulled at least a million bucks out of those two-ish years. What I did after I left to leverage my new skills and exposure is a pretty interesting study on snatching opportunities as they arrive. Perhaps "arrive" isn't a good word because I had to push myself in front of oncoming opportunities. No one ever looked for me - I always looked for them.

When people say your network is your net worth - it's true and though I'm a huge fan of thinking big my mind never stretched anywhere near as far as my nose took me. I achieved goals I'd never even dared to dream of so keep that in mind kids, do all you can to open doors - the rest just may take care of itself and the world can surprise you.

For example, imagine if I started a thread before I went to Fiji complaining about how broke I was and how I couldn't get there and I didn't know anyone or what to do or how to approach people and I had no ideas but somehow I was going to find a lazy genius, build a proper solid company based around them and an as yet unknown need, acquire the extra skills needed to build and maintain a large active community, charge a very modest fee which people were very happy to pay and sell out in a $650,000 exit within 2 years...you (and I) would have laughed and laughed and laughed and laughed...oh how we would have laughed at me and yet there it was. Fascinating - even to me and even to this day.

LOL @V8Bill I was reading this awesome story and getting so psyched and then when you started on about your book I was like holy cow it's YOU! I've already bought your book and talked to you on skype. This story made me want to buy it again hahaha.

It is indeed me...lol and you just raised an interesting point with your last comment. I've always considered myself a really bad copy writer - still do (or I did until you made that comment) but here you are already having bought the book and finding yourself wanting to buy it again. That's cool. Even in this thread and as we speak the power of a real story told from the heart with genuine desire to share, please and help others is teaching me knew things about my skills.

Anyone from TFF is welcome to add me on skype for further chatting and jokularity. I just love hanging out with winners and you're all winners and you know why? Because if you knew how your reactions to my lil' ol' story are giving me more joy than I ever got selling it you'd get a winner tattoo this afternoon. You guys have given me so much joy in the last 12 hours my eyes are wide open with surprise. I've got other stories if you want more. Like how I went on to break my non-compete agreement with the blessing of the people I wasn't supposed to compete against and made another few hundred k...to the same community! That story involves a kiwi, a funeral videographer and my leveraging my "say yes first then figure it out later" approach to stumbling into wealth and freedom. That ones a classic and almost as good as the Fiji millions story. I also have photos I can post but didn't want to risk corrupting the story with photos of "free" (sort of) Lamborghinis, luxury yachts...etc. Yep, I have an episode that involves a surprise (and free) Lamborghini in my favourite colour - yellow.

Thank you all so much for all the rep points and post likes. It took me what felt like 3 minutes to get past all the like banners before I could even get to the thread. MJ if you're reading this - that's a great feature. I love me some like banners on the bottom left of the page. Then again, I'm easily pleased these days.
 

V8Bill

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EDIT: Very good read! In line with the money as a money tree strategy, as well as some finance management strategies. This will help me well to plan for a degree of financial security before going for bigger targets. Very balanced know-how along with the big picture of the psychology of 'millionairism' (that's what you call it?) to pair with finances.

This will be on my to-go-to read list besides TMF and UNSCRIPTED . Thanks again, and I hope you expand further on similar concepts...there's an opening.
Just picked up your edit ZL - thanks man, to even be on the same shelf as MJ is a huge honour. Tell me more about this opening that you see. If it involves me telling more real wealth stories I'm in!

EDIT: How rude, I hijacked the thread without commenting on the first post! That story was really interesting and funny to read, thank you for sharing.
One can see that you enjoy writing :)
~ Ika
Haha, no probs man. My rudeness meter didn't even bleep once. As a failed comedian I love that I made you laugh. These days I (sometimes jokingly) refer to myself as a "Financial Entertainer" (eye rolling assumed) but making people laugh is one of my top social priorities. Huge compliment - thanks.
 

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