Here is the complete transcript of the podcast
Yesterday, I started the podcast by asking you a question. How do you define your worth? Without talking about your net worth? Today, I want to also start the podcast by asking you a question, which is, do you want to increase your net worth? Yes, we are talking about money, you’re talking about wealth, and you’re talking about income today on the podcast. So if money wealth income is your goal, which should be, then today’s podcast is going to add to your understanding, that’s my intent. Specifically, I want to share five daily habits that you can bring in today. And you start seeing results over the next 30 to 90 days. So let’s get into this. I have done multiple businesses, I have this coaching training, and mentoring is one line of business, which I don’t pursue as much anymore. But over the last 20 years, I have dabbled with many businesses. And there are many lessons I took from all these businesses and one thing is consistent.
Here is my observation. He’s here is my conclusion at the end of all these, well, the end is not here yet. But if I look back, this is my conclusion. It’s not about the opportunity. It’s not about where money is, it’s not about the chase, none of that. This is about habits, you want to make money habits, you want to lose weight habits, you want to do anything in life habits. So is increasing your net worth. Increasing your net worth is a habit. And this habit has to be pursued daily. So I thought it was one. But then along the way, I have discovered there are four specific habits, that if you pursue, you will see your net worth increase as quickly as in 30 days, or as late as 90 days. Okay, so let’s get into this. The first habit is hustle and mindset. So you wake up in the morning, with a hustle in your mind. There are two layers of hustling. One is you caught to keep on looking for ways to add income streams to your life. Where else can I make money? What are the skills that I have? Assuming that you already have something that you do for eight hours a day, or 10 hours a day? So you have your job, you have your business?
Now the question becomes what else can you add to what you have already got going? So that’s the first thing, that’s how you wake up in the morning. The second is, now that I already have a job where I’ve worked eight or 10 hours a day, what can I do to increase the income for which I’m already putting the time in? So you increase what you already have. That’s the top. So you want to get to the peak. And then you are also looking to add, I would start with adding first and then raising the top line income. So this is the hustle, this is where it starts. So if you wake up in the morning, and you’re not thinking of making money. Now, I’m not saying that you need to make money and become to become greedy, or to become rich, and to prove a point none. This is a way because, in the back of your mind, money should be creating freedom for you. Money should be giving you the autonomy to do whatever he wants to do. And you’re not in this game to work for the next 30, 40, 50 years. Yes, you will be working till you are alive. I get that and I drive that point. But then you should be picking and choosing what you have to work on. You need to make the choices. You need to decide if I want to work on this. I don’t want to work on this a bad choice available to you if you have money. So it’s better to start respecting money. It’s better to start applying every minute of the day.
To create something meaningful hustle doesn’t mean that you need to make money hustle means bringing in that mindset where you start valuing your time, your actions, and your application of everything that you have within you to do the things that you want to do outside such that you create the wealth, you create the income. I’ll stop there, rewind, and listen to that. I want to go back and listen to this myself. I don’t like I said that. The second habit is investing daily investing. Here’s what I’ve seen some of my friends who really made it big, like really, really big. A friend of mine actually came with me together to America. And we started our careers practically on the same day, six years into working here. He said I’m going back to India for six months, and I can afford to stay there for the next 60 years. I’m going back to India for six months. I can stay there for 60 more years. I was shocked. I said, How did you get there? 60 years, he can stay there without coming. And my mind, he has to come here, he has a job here. So he has to come back and work anyway. He said, No, I saved every dollar I made. Every dollar I made, I was shocked. I said, how much the $600,000 I saved. My goodness, $600,000 You saved hearts. That’s a lesson, I did not have $60 in my account after six years. Anyway, so what I found out was, that he was investing on a daily basis, he was saving and investing. So the two parts to this, the top part is you need to invest pre-tax, the money’s coming in before you pay taxes, you need to invest. So the 401 K’s, SEP IRAs, all that you need to max out on the top, then you need to also invest at the bottom. The bottom means some change. For example, $5 $10 $20, whatever change is left on a daily basis, some money that’s left with you in your wallet that has to go into investing. And there are many apps today that will allow you to invest in change. If you want more information on this, let me know to text me I’ll give you all the details or maybe I’ll come back and do a podcast episode on this on how to invest change.
So you need to look into everything on top of the income. That means your pre-tax income coming in, and the bottom of the income which is you paid all the bills, all the expenses, everything, and now you have some money left. Where do I put this money, every dollar that you make from the top line income, every dollar that you save at the bottom, each dollar has to have an association has to have a name to it so you know exactly which bucket it has to go into. Rewind that and listens to that for a second. Okay, next comes the next habit daily habit. By the way, all these are daily habits hustling daily habits, investing daily habits, investing daily, and saving daily. A third is eliminating, so hustling, investing, and eliminating, well, are the two things you should eliminate to increase your net worth. On the top, you need to eliminate desire. At the bottom, you need to reduce anything and everything that you have. So you have multiple books, multiple racks of stuff, you know, whatever stuff you have in your house, whatever stuff you have in your closet, whatever stuff you have in your car, try to eliminate as much as you can. Because that which you only have to manage. If you’re managing something that means your time is going into managing something. And it was expensive. Of course, I live in California in the Bay Area. It was expensive. Real estate is expensive. I think everybody else too, it’s expensive. So got the desire, reduce your possessions. And you know, this life, in general, we all accumulate a lot and the majority of the accumulation happens without our knowledge without our conscious thinking unconsciously we accumulate and we live in what is the right word for this lifestyle inflation. That’s the right word. I was looking for lifestyle inflation when flickered the lifestyle cutter lifestyle. And the last one which is very unusual, which is actually an observation is my observation with myself, which is negotiate everything, negotiate everything, negotiate daily, a friend of mine who negotiates everything. It’s crazy. I mean, every time I talk to him about negotiating something, like negotiating air, or oxygen, if you can’t negotiate oxygen, he said, no, why not? I should try. That’s a joke. But yeah, he negotiates everything. So negotiate on the top, negotiate what you’re getting. So if you take up a new job, you’re starting a new business or you’re acquiring something new, negotiate. At the bottom, also negotiate what you have. You already have a job. You know, your income is fixed, go ask for a bigger income. ask for more money. You’re putting in the effort. Right? So these are the four things hustling, investing, eliminating, and negotiating.
Now, let me correlate these things. If you hustle. Well, are you bringing the hustle mindset, your investment will increase your hustle will also mean that you now are negotiating. So hustle increase investing, hustle increases your ability to negotiate. And investing will also make sure that you eliminate because your investments go right and you bring in the investment mindset. You will also see ways and means to decrease what you have. And all that which you save, or you make back from reducing, goes into investing. It’s wonderful to be in that loop. Try these four habits. Start from tomorrow, start with $1. Start with $100. Start with 1000, whatever you have, whatever you can afford, start with that. At least go negotiate your job, get a higher salary, and get some benefits, right? Figure out how you can apply these four principles across everything that you have got going and let me know. Okay, that’s all for now. Wherever you are, be safe. And I’ll catch you as early as tomorrow. Right here. Thank you.