– How’s it going guys? Welcome back to the channel. So I’m here again with Dan Lok.
If you guys have missed out the other videos we’ve done, there’s all kinds of value there. I’m gonna link up the initial interview I did with him talking about Dan’s story. But what I want to specifically ask you in this video, I know I’ve shared my perspective on this.
It was actually one of the most popular videos called Why You Will Never Get Rich, and what I talked about was the whole keeping up with the Jones’ and buying a big house and buying the flashy car, but I wanna hear more your perspective on that, and why is it that you think most people will never achieve the wealth or the success that they’re looking for in life? – I think from my perspective, there are a number of reasons. I’ll give you two. You got to understand that first, for most people, let’s say myself, right, my dad, kind of middle class, when I was here just with my mom living in a one bedroom apartment, when we are growing up, the people that you associate with from when you go to school, right, chances are, your parents are probably not rich, right. And your uncle is not rich. Your aunt is not rich.
Your friends are not rich. You grow up in school, learning from a teacher that is not rich. The tutor that you hire, that’s not rich. So growing up, you do not have a lot of role model. You don’t know what that is like, beyond what you see on TV, that’s one issue.
– Sure. – And the school system is not designed to make you successful. It’s designed to create workers. It’s designed to create people who work at a job, and there’s nothing wrong with working at a job, but knowing that the school system’s not designed for that. And you notice a lot of the people who do become rich, they may be the entrepreneurs, right. That they are investors.
That they build something outside of the school system. They learn what their craft, they master their skills outside the school system. That’s one issue. People who want to be quote on quote become wealthy, they have to look for other ways to learn.
It could be learning from a mentor. It could be learning from YouTube. It could be learning from a program. Some other way.
Second, I believe the biggest reason why most people have a problem creating wealth is not what they think about. Is they have a negative association with money. – I think that’s huge, yeah. – I don’t think they believe in that, but it’s the fact. Now I’ve coached so many students.
Because you think about it. Actually, let me give you a scenario. Imagine we are downstairs. We are just walking. And you and I, we’re walking down the sidewalk and suddenly we hear this Lamborghini.
(engine roaring) That just drove by. Most people would hear that. What’s the first thing that pops into your mind, comment below.
– I would love to see what you guys say. Comment below because– – Comment below. I think it’s gonna be common. – What’s the first thing you think about.
Who do you think that person is? What’s the impression that person? Without filter, most people would say, that’s an asshole.
That’s an arrogant prick. Probably his dad’s got money. – It seems like everybody always jumps to that, must be his dad’s money, must be, especially if it’s a young guy, or girl.
Young person. You automatically jump to family money. Oh it must be their dad’s car. – This is all negative shit. And there’s never, oh that person must be a very successful entrepreneur who works 20 years to get there.
That’s never the answer. It’s always something negative. So when you think about money, think about wealth, most people, they have, when we’re growing up, money doesn’t grow on tress.
Money is the root of all evil. When you have this belief about money, so in one hand imagine you’re driving, you wanna be more successful, you wanna make more money, you’re stepping on that gas pedal, right. I wanna go faster.
I wanna achieve success. But you have this emergency break on which is your negative belief about money that, oh money’s bad, rich people are greedy, rich people they lie, cheat, and steal. I don’t wanna be one of those people. If I’m successful it means I’m one of those nasty, evil people. I don’t want to be like that. So guess what, you make sure you’re not one of those people.
What would my family think. One hand, the gas pedal. Then you have emergency break on. That’s why people never create wealth. This actually holds most people back way more than they think.
– I think you worry too about losing friends, losing friendships, your family not liking you– – What will your family think of you. – Will it change me? And these things have run through my head too, as well.
The right people support you – Most don’t. – Up until a certain point. Most won’t. – Most don’t. – Some will support you up until a certain point but once you past that point, they don’t support you anymore. – They don’t support you anymore.
– Whatever it is in them that, they only wanna see you do so well, if they wanna see you do well. – Maybe see you do a little bit better. The reason for that is, let’s say we’re high school buddies. We hang out, right. I have my job nine to five.
I’m making 60K a year. Suddenly, Ryan is starting his business. Now he’s making 10, 20, 30K, 50K a month. You make more in a month than what I make in a year.
Now at first, maybe hey man, good job buddy. Later, I don’t like that so much more because it could be jealousy, could be envious, but more importantly is this. Every time I see Ryan, ’cause we’re buddies, we’re stuck together. Shit, we went to the same school. Every time I see Ryan it reminds me what a failure I am.
Because other people I see on TV, I don’t know those guys, that’s fine. There’s a distance. – So it’s personal.
– This, I know Ryan. We grew up together, so what excuse do I have? So every time I see you it reminds me what a failure that I am. Of course I don’t like that. Of course I don’t. ‘Cause I have nowhere to go.
I can only look in the mirror and say, you know what, what’s the difference between me and him? I chose the wrong path. I made the wrong decision.
I didn’t do the right thing. It’s not you, it’s them. That’s the issue.
That’s the deep, deep issue. That’s what holds most people back because they think of themselves, they want to be successful and yet they have all these negative association about what would happen if they have money. What would people think of them? And money is bad and I’m gonna lose friends. All this stuff, and most people, they will self sabotage. So sometimes people never make it.
You have people who made it and they lose it. They lose it because they made it, suddenly, oh, everything change. They self sabotage. So they self sabotage their own success so they can get back to, let’s hang out.
– Back to people liking– – Let’s hang out man. Guess what? When you’re back to– – When you’re on the decline, everyone’s a friend. – Then you say, hey man.
It’s okay. Come back to the club. Let’s go get a drink. Damn these guys, right. That’s what happens. – And actually you brought a story to mind from you when we were talking about that in the beginning.
I remember one of my earliest memories about money, I was talking to my dad because one of my friends got the new Play Station and I said, I want that new Play Station. And so I asked him, I said, why don’t we have a Play Station? And he was like, well, they’re rich.
Their family is rich. And I said, what is rich? And he goes, well rich is someone who has a lot of money. And so I said to him, well what’s a lot of money? And he said, well $100,000 is a lot of money. And from that point forward, my goal was always to make a lot of money, make $100,000.
And years later I thought about, imagine if that number had been a million or five million. Sometimes hearing that early on you set the bar too low. – Yes. – With what you can accomplish.
– And then it would affect the way you make decisions. You’ll be more maybe striving for comfort and security and safety because that’s the 100K, right. Now, maybe sometimes that’s why your dad said to use 100K. Maybe some parents would say, oh we can’t afford it. – Sure. – What do you think, we’re made out of money?
You hear these things all the time. So as a young kid you hear we can’t afford it, so what happens is when you grow up, everything you look at like I can’t afford it. Even though maybe you could afford it but doesn’t matter.
We can’t afford, we can’t do this. It’s wasteful. No, you don’t travel business class or first, economy. It’s stupid.
I hear this all the time. It’s on the same plane. You get there the same time. Why you pay two, three times more money? You have this kind of programming and you always believe, it’s okay, it’s the back of the plane. I hear this all the time from broke people.
Hey you know what, if the plane crash, front of plane, back of the plane, you both die. – Justifiers. – That’s like, what the hell is that? And I tell people, if you ever go first class or business class, you know what I mean.
You don’t wanna go back to the back of the plane, trust me on that. People think, oh yeah taxi is fine. Limousine and a taxi, you sit in a limousine once, you don’t wanna go back to a taxi. Albert Einstein said it best.
Once a mind is expanded, it never retracts to its original state. I believe once a wallet expanded, it never retracts to original state. Once you made certain amount of money, let’s say you’re hitting that 10,000, 20,000, you will do everything you could to sustain that.
– Sure. – Rarely you see people making let’s say 10,000. That 10,000 is the magic mark.
I don’t know why. People making two, three, five, six thousand, ups and downs, but people hit 10,000, rarely they go back to making like two, three thousand. – That’s interesting. I think I’ve seen that too with people.
– 10,000. – That’s the marker. – 100K is the first mark. A million is the second. People, once they know how to make a million, they tend to stay, they know how to make a million.
But then it’s how do you get to that five, eight figure mark. – Eight figure mark. – Eight, nine, and then from there on. – That becomes the new comfort. So it’s like, if you’re watching this, imagine you are making 5,000 a month. And I ask you, do you want next month I don’t want you to make five K. I want you to make three K. I want you to do your best to make three K. You’re like, Dan, what the hell are you talking about?
I cannot make three K. I need to make five K. When there’s a new comfort, you actually need to work extra hard to go down to make less. What you wanna do, you need to increase this. So that your comfort, it’s always higher and higher. Make 10K your new comfort. Make 20K your new comfort.
Then it doesn’t go down. But the problem is, you trying to do all the strategies, watch video to increase that comfort, that’s not how you increase the comfort. It’s this.
Once you improve your mental comfort with money, then everything works. Everybody says threshold. – The ceiling, the glass ceiling. Whatever you wanna call it. I’ve experienced the same thing myself.
– And you don’t get there with just 100K. Now think about, back then when you were getting started, how much you were making? Base, bare minimum. – The first money I ever made out of school, it was actually pretty good.
I made like $5,000 a month. So for a 20 year old, that wasn’t bad. – That’s pretty good, right.
5,000, and now you make multiple of that. Compared to the work, do you work 10 times harder? Do you put in 10 times more effort? It’s not like that.
– It’s totally true. You don’t work harder the more you earn. And on the plane ride here, for some reason, something I thought of was the first $5,000 I made versus the most recent $5,000 I’ve made, and the difference in the amount of work involved with that. I think everybody believes you have to work hard to earn money. Hard earned money. That’s one of these things you have in your mind.
– Hard earned dollars. – I hate hard earned money. – Hard earned, you don’t hear easy money. No, hard earned dollars. – Don’t spend your hard earned money on this.
– Penny saved is a penny earned, all this stuff. You don’t hear any other stories. It’s funny how that works. – Yep, there’s just things that are passed around in society. – And partially, media helps that.
Media facilitates that kind of belief. Think about the movie, a very popular movie, Titanic. Think about Titanic.
One of the most bestselling blockbusters of all time. Think about the movie, how they portray rich people and poor people. Think about that movie. DiCaprio, remember?
He was gambling, he was getting the ticket. Kind of sneak onto the Titanic ship. All the rich people at the top, they’re all stiff and snobby. All the lower class, the bunk bed, they’re all dancing, happy, having fun, and you just contrast. – You got these stuck up rich people. – There you go.
– Makes you think who would wanna be a part of that? – I don’t wanna be a part of that. Imagine the whole movie. Same movie, you flip it around. Imagine that story. It’s the rich people that dancing and happy, the poor people that’s sad.
You think that movie would sell? I don’t think that movie would sell at all. – I don’t think so either. – People would hate that movie.
Why? Because the public perception. It’s the same. You see all these things being media portrayed about rich people and always the scandals and bad news and all this stuff.
Rarely, rarely, maybe Inc Magazine or Forbes Magazine, all the fortune, you see they more feature entrepreneurs but most things are negative. – Very true. – Why do you think they are negative, by the way? – I think it helps people cope.
– That’s right. – Honestly. ‘Cause you don’t wanna see people as being better than you.
You can only justify it by saying, well yeah they’re rich but they’re– – They’re not happy. They’re miserable. – They’re not happy, they must work, if they’re rich, they must work 80 hours. – They must be workaholics. They must be miserable.
The divorce rate is high. Their kids relationships suck. There has to be. Don’t tell me they are rich and happy. Fuck them. These bastards, they’re rich and happy and healthy, no way.
Where does that leave me? That’s what happens. You gotta know, that’s exactly what happens. But what is the truth?
Don’t listen to the media. Find out for yourself. Here’s what I found out. ‘Cause I didn’t buy that whole media BS. I went and talked to rich people.
You know what I found out? They’re happy, they’re generous, they’re not miserable. Some of them are miserable. But you have way more poor people that are miserable than rich people, trust me on that.
They are kind. When I ask for help, even with successful people in Vancouver. When I ask them out for lunch, super successful people. No problem. They are very generous.
They’re willing to help. ‘Cause they could give because there’s no lack. They don’t need anything from you. Over the years, guess who stabbed me in the back? Guess who betray me? Guess who lie to me?
The poor, not the rich. The ones who are rich, majority of them are good. That’s what I found out from my own experience. Don’t believe in the whole, what media’s telling you. Go find out for yourself and see what exactly the truth. You’ll find that it’s a very, very different story.
Very, very different story. So that’s why most people never make it. – It wrapped up a lot of different ideas that I’ve had myself and I think that really hits the nail on the head there. Those different pieces there.
Anyways Dan, thank you so much for sitting down with me. I really appreciate it. For those of you that are looking to learn more from Dan and myself, we are putting on a free masterclass that’s gonna be the top link in the description below. We’ll also pop a link up here as well. But we’re gonna kinda go more into the mindset shift involved with going from being poor or maybe not necessarily where you wanna be to eventually becoming rich because to get to those new thresholds or levels or whatever you call them, each one requires a new mindset. Source: https://mycasinoindex.com/reports/all