← THE ED MYLETT SHOW
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So, hey guys, listen. We're all trying to get more productive and the question is, how do you find a way to get an edge? I'm a big believer that if you're getting mentoring or you're in an environment that causes growth, a growth based environment, that you're much more likely to grow and you're going to grow faster. And that's why I love Growth Day. Growth Day is an app that my friend Brendan Burchard has created that I'm a big fan of. Write this down growthday.com forward/ed. So if you want to be more productive, by the way, he's asked me, I post videos in there every single Monday that gets your day off to the right start. Got about $5,000, $10,000 worth of courses that are in there that come with the app. Also, some of the top influencers in the world are all posting content in there on a regular basis, like having the avengers of personal development and business in one app. And I'm honored that he asked me to be a part of it as well and contribute on a weekly basis. And I do. So go over there and get signed up. You're going to get a free tuition, free voucher to go to an event with Brendan and myself and a bunch of other influencers as well. So you get a free event out of it also. So go to growthday.com forward/ed. That's growthday.comed. this episode is brought to you by Google Gemini. With the Gemini app, you can talk live and have a real time conversation with an AI assistant. It's great for all kinds of things, like if you want to practice for an upcoming interview, ask for advice on things to do in a new city, or brainstorm creative ideas. And by the way, this script was actually read by Gemini. Download the Gemini app for iOS and Android today. Must be 18 + to use Gemini Live. This is the Ed Miler Show. Welcome back to the show, everybody. So you want to be a millionaire, huh? Well, let's talk about that today. You know, one of the most popular topics on our show, and I only cover it three or four times a year, is money. And so we're going to talk about being a millionaire today and even making a million dollars a year and what that really looks like, what's really going on in the world and in the United States specifically, and whether or not it matters. And I know a lot of you as we start the show today, say money isn't everything. Of course it's not. Which is why I only cover it three or four times a year on the show, but we're going to cover it today. And I want you to stay in there. And I don't care whether you're a schoolteacher, a bus driver, a CEO, a professional athlete, a stay at home mom or dad, a wealth manager. Stay in here with me today because we're going to talk about wealth. Specifically we're going to talk about becoming a millionaire. But so many of you asked me to look at making a million dollars a year. And so we're going to talk about that today and hang in there even if you don't make a lot of money or you do make a lot of money. So let me give you some statistics. First of all, let's look at this millionaire thing, which isn't what it used to be. And if you're not on track to do that right now and you're in your 30s or 40s, you're more than likely going to retire broke. Actually, you're more than likely never going to stop working. You're never going to retire if you are not at least on pace to be a multimillionaire in your retirement years, if you're 30 or 40 years old now. So there may be a necessity for you to begin to look at a second income or a way to make more money or certainly at the way you spend and earn money. So let me give you some stats. Over the last five years, the population of millionaires in the United states has grown 35%. That's nearly twice as fast as China's. The US is now home to 30% of all of the world's millionaires, which is up from 35% back in 2018. The divergence though of top wealth in this country is getting wider and wider. The U.S. by the way, has about 10,000, 9,850 centimillionaires. Those are people worth 100 million or more, which I'm honored to be one of. There's only 9,850 of them in the United States. China, by the way, only has 2,352. So the US has a giant chunk of the people in the world worth a hundred million dollars a year or more. Let me give you some stats here. They're going to blow your mind. Just hang in there because it's fascinating. The top 5% of all earners in the United States make at least $290,000 a year. So if you make $290,000 a year, you out earn 95% of the people in the United States. Now I know the vast majority that means of people watching this today do not make $290,000 a year. It means probably 5% of you do. So in 2021, annual wages rose fastest. Guess for who the top 1%. In 2021, the top 1%'s wages went up 9.4%. The top 0.1% went up 18.5%. So that means successful people are becoming more and more successful. They must know something. Some would say, well, the system is rigged in their favor, or they learned how to rig their own lives for success in this system. No matter how you see it, the bottom line is the top 1% income went up almost 10% last year. And the top 0.1% went up almost 20%. What's incredible by contrast, though, well, those in the bottom 90%, they actually saw their real earnings fall by 0.2% in 20 and 21. Let's just settle in on this. The top earners, top 1% are up 9%. Top 1% of 1%, 1/10 1% are up 20%. Everybody else, the bottom 90% saw their wages drop with inflation. Workers in the 90th to 99th percentile. So the bottom 10% earners experience real losses in 2021. Here's some stats. The top 1% earned 14% of all wages earned in 2021. That's twice as much as they did in 1979 when they were earning 7% of all the money. So of all the money earned in the economy in the United states, the top 1% earned 14% of it, double what it was in 1979. The bottom 90%. The bottom 90 earned just 58% of all wages. So there's a disparity here between those that are flourishing in the system and those that are not. The lowest share on record since 1979 for the bottom 90%, see in 1979, to give you an example, the bottom 90% earned about 70% of the money. So it was within range. Now it's just a little more than half. So the bottom line is this. Wages for the top 1% and the top 0.1% have skyrocketed 206% for the top 1%, 465% for the top 0.1%, while the wages of everybody else have grown just 28%. Throwing a lot of stats at you. Let me just make it simple. The top 1% since 1979 are up 206%. The top one 10 of 1% are up 465%. Everybody else up just 28%. That means the income gaps growing. I think I've illustrated the point. On an annual basis, the bottom 90%. Wages have grown only 0.6% a year, which is not even close to inflation. So we're falling behind. 90% of us are. There's no really such thing as the bottom 90%. It's just everybody. So here's what's really interesting. It's a great article in CNBC that I'll put up on the screen on YouTube. And it doesn't matter if you're on audio, just. I'll just tell you what the article says. Says the average American thinks they have to make a million dollars a year in order to be wealthy. They think they have to make $1 million a year. Well, that's interesting because less than 1% of all people make more than a million dollars a year now. And that'd be cool to do it once, wouldn't it? The odds are 99% you're not going to make $1 million in a year. By the way, how many people do you believe make $1 million five years in a row? So it becomes their income. Do you know what percentage of people do that? 0.1%. 0.1% of all people. Only 80,000 people in the United States have actually made $1 million a year five years in a row. 80,000 people out of a country of 370 million. Now, of those that make the income five years in a row. You ready for this? If you take out hedge fund managers, fund managers, venture capitalists, you renown to less than a quarter of 1% of people. If you take out professional athletes, it's even lower. So now you're talking about 24,000 people. Somewhere between 24 and 50,000 people under the age of 60 make a million dollars a year consistently in the United States. So you can't even fill up the average football stadium in the United States with people under 60 years old who aren't in those fields that make a million dollars a year. You're talking about 24,000 people. So now here's what's crazy. So that's probably not going to happen, although it should be your ambition. I've been privileged and honored that I have made over a million dollars a year in my life for the last 25 straight years. Some years, you know, eight figures and above. And so I'm. I'm lucky, blessed. And I know some things that have put me in that group. Here's what's interesting about making that money. For people that make $500,000 a year and up, they're four times more likely to file bankruptcy than people that don't. For people that make a million dollars a year, they are eight times more likely to file bankruptcy than someone who does not make $1 million a year. So I don't know that income is correlated to wealth. In fact, a lot of people, by the way, and I know that more people make this money than it shows up on tax return because people don't claim all their income. These are people with net incomes. So if you're thinking about finding a unique gift this holiday, let me tell you something that could really help the people that you love grow and get better. You can't do any better than Masterclass. Masterclass allows you and your loved ones to learn from the best to become their best. Take an expert in an industry and they're on Masterclass. It's the only streaming platform where you can learn and grow with over 200 of the world's best at what they do. Learn from any Masterclass instructor anywhere on a smartphone, computer, smart TV or even in audio mode. I have to tell you, I'm doing a cooking thing on there right now because I really want to make better food for the fam and so I'm on there right now doing through a cooking thing and the classes make a difference. 80% of the members feel Masterclass made a positive impact in their life and there's no risk. Every new membership 30 day money back guarantee. Masterclass always has great offers during the holidays, sometimes as much as 50% off. Head over to masterclass.com mylet for the current offer that's up to 50% off@masterclass.com mylet masterclass.com mylet what makes a leader? It's a tough question, but one thing's for sure, a true leader leads by example and a true leader takes risks too. They plunge into life with determination. For those who lead by example and who approach life with a palpable passion, there's the Range Rover Sport. Each Range Rover Sport model offers a dynamic, sophisticated take on sporting luxury. The Range Rover Sport offers focused on road performance and world renowned off road capability with industry leading features like adaptive off road cruise control that monitors ground conditions and acclimates to the present terrain. Agility, control and composure are achieved with dynamic air suspension and adaptive dynamics. Reduces unwanted body movements to deliver smooth and composed handling, true sophistication and excellent maneuverability all on a seriously stylish package. Sophisticated refinement meets visceral power in the Range Rover Sport, a new dimension of sporting luxury. Build your Range Rover Sport@Land RoverUSA.com One of the things on social media that drives me crazy is so many people think, so many people make millions of dollars. So you hear, well, XYZ guy made $3 million last year, she made $3 million. They haven't paid. You haven't taken account. That was their gross. You haven't taken account their rent, their employees, their insurance, their legal, all the overhead that comes with it, their inventory. In some cases. Also this big thing on social media, so and so exited their company for 50 million or 500 million or a billion dollars. That doesn't tell you anything. You, you don't know, number one, what percentage of the company they owned. You don't know how much debt they had. You don't know how many people they had to pay off that are other shareholders or investors. You don't know what they paid in taxes. And so often times I've had people that have been on my show that people go, this person exited their company for 100 million and I know this person doesn't even have $2 million in cash. So this whole money conversation online and anywhere right now is very bizarre and perverted and isn't always telling the truth. Turns out that most of the people don't make a million dollars a year, especially if they don't run a hedge fund or they're a fund manager or they can throw 25 touchdowns a year or dunk a basketball. So who are these people that make $200,000 a year and more like, what did they do when you break down the tax returns? So some of them are very successful executives at companies or even high end executive assistants. Here's what they all are at that level, really great at what their job is. If you're going to be take the corporate route, you have to be great. Okay, you have to be great. Many of them are in sales. They're in persuasion. They help people make decisions by buying things. Real estate, life insurance, automobiles, things of that nature. Pharmaceutical sales. So many of them are in sales. I'm talking about now, by the way, minus athletes and fund managers. Several are attorneys and doctors. For most of us, we're not going to law school, we're not going back to medical school, but they're in the group as well. And then the vast majority of the remaining people are entrepreneurs. They have found a way to solve people's problems. They've started businesses. None of them were born Entrepreneurs, most of them had jobs before they started the business. Most of those people have failed in multiple businesses before they became successful in the one they're now pretty successful in. I can tell you this. All of them have faced adversity. All of them had fears. All of them had people in their family telling them they were crazy. All of them have had people tell them they're not going to win. All of them have had people root against them. All of them have had somebody hurt them. Most of them have had somebody steal from them, lie to them, take from them, and use them. And they won anyway. See, there has to be a point in your life where you go, I'm not going to be a statistic. My family is not going to be a statistic. And if you really love what you do, but you want to provide for your family, then get a career that can provide and do what you love as your hobby or your pastime, or go get enough money, say that you can dedicate all your time to doing this other thing. I am not suggesting in any way, shape or form that what you're doing doesn't work. My middle sister is a Christian school teacher. I would be crushed if she ever did anything other than that for a living. I just would. But her husband, who has a nice corporate job, also has an entrepreneurial hustle as a podcast, okay? And so somewhere in there, they've got a game plan. They also started saving money in their early 20s because they were clients of mine in the financial business, but they started a savings plan. They've got lots of equity in their home. They have found a way to live extremely below their means. And so there is a path for everybody. There's a path for working people, there's a path for entrepreneurs, there's a path for salespeople, there's a path. You have to find yours. You have to become committed to a plan. You have to get a strategy down. If you are going to be in a career that does not pay you a lot of money, then you've got to be great with your money. You're going to have to be very disciplined. You're going to have to save. You're going to have to invest. You're going to have to find a way to cut out excess and live below your means. Or you need to start a side hustle in addition to that career. Or your spouse does. Or maybe one of you works on the weekends and earns supplementary income. Unfortunately, the way the system works today is it's almost impossible for two people in A relationship that raise a family and have children, with the way taxes work now, with the lack of wage growth that I've told you to get ahead unless they are unbelievably diligent with their money. And so if you're going to have those careers that make a difference in other people's lives but won't make a financial difference in yours, I salute you. I admire you. This show is really for you today. If you're one of these people who wants to get financial increase, well, we've already talked about the different things you need to do, and I will hear as we go down the list in a minute. So I want to honor those of you that do work every day that changes other people's lives. And you don't get the appreciation verbally, emotionally that you deserve. And you certainly don't get the financial remuneration and appreciation that you're worthy of. So it's going to be incumbent upon you to even be more disciplined, more focused with your family. The reason this matters so much is that people who choose these careers in the service of other people that are not going to also pay a lot of money, they have chosen those careers because money doesn't mean anything to them. It's not a priority. Contribution is peace of mind, is personal growth is making a difference, is. So these precious people who work in careers where there's not a lot of income, money is not a priority to them. And what I'm saying to those of you that are those people who I admire so much, it needs to still be a priority to you. Because someday you can't do this job. And when you're done with the ability to do this job you love so much, you have to have enough money saved so that you can live. There's also going to be life happening to you. Mom or dad's going to need some help. Kids are going to need some help, Cars are going to break down, emergencies are going to happen. And so precious, beautiful you who's dedicated your life to other people, you should continue to do that. But this idea that you could ignore money altogether, if I can say this as a friend, is irresponsible. Because what you will do is you'll spend your entire life caring for other people. And when you most need to care for yourself and your family, the government's not going to be there. The government is not going to be there. That pension you have is probably not going to be there or promised. And so you've got to take the steps right now to make Money a priority outside of your career so that someday you don't have to worry about it. If you just get a good budget, a good plan, a good savings program, a good person to help you that's trustworthy, then you can put all that stuff on autopilot and you can continue to do what you do for a living, serving other people and living in the peace and harmony and contribution that comes with that. But what you can't do is just say, it's not a priority to me at all. I know too many people who spent their lives changing other people's lives, but never paid any attention to their own, get to a point in their life where they can't do that job anymore and they're scared and they're destitute. And you will have helped when you retire someday. Way too many people to have to live like that at that age. It's not fair. And unfortunately, other people aren't going to do this for you, and the government's not going to do it for you. No matter what political party you vote for or believe in, neither one of them are going to care for your family like you need it cared for or you in retirement. And you certainly can't wait around to trust that they will 10, 20, 30, 40 years from now. So you need to get a game plan of saving some money now and reducing your expenses. And I know you're saying, ed, you don't know what it's like at my income level. I do. I lived on minimum wage for many years. Okay? I made less than six figures many years. Many years. I made less than $50,000 a year many years ago. And I know what that's like. And so. But I found a way to save money then, just in case I never made a lot of money. And so please everyone listening and those of you that plan on making a lot of money, well, we got to get our act together because we know not that many people really make a million dollars a year. So let's look at who they are and what we need to do to be like them. This show is sponsored by BetterHelp. Listen, it's the time of year where you want to make the next year one of the great years of your life. One of the things you should probably consider is therapy. Most successful people and happy people that I know are either in therapy or have been in therapy because it helps them get clarity. Help helps them unwind some things that are holding them back, and it gets them focused on the things that need to move forward. So whether You've got major trauma in your life you need to work through or just a lack of clarity and focus in your life that you'd like to get more clear on things and a sense of direction in your life. Therapy is a great way to do it, and that's where better help is so great for people to learn different things, and that's where better help comes in. So if you're thinking of starting therapy, give better help a try. It's entirely online, it's convenient, it's flexible, suited to your schedule. Just fill out a brief questionnaire to get matched with a licensed therapist. You can switch therapists for any time for no additional charge. Find comfort this December with BetterHelp. Visit betterhelp.comedshow today to get 10% off your first month. That's BetterHelp. H E L p.com/ed show. So is there room to do it 1 million percent? Yes. I talk about how to do that on the show all the time. I'm actually qualified to talk about it because I've been doing it for 25 years. I've made eight figures a year for the last 17 or 18 straight years, not seven, eight figures a year. And so do I know about this stuff? Yes. I also know a bunch of people who make a lot of money that are broke. So what are the things that matter then about what I'm talking about today? These are the real stats. And don't buy into this. So and so exited. They exited. They exited. That doesn't tell you anything. That's, that's like preying on people's ignorance, going, oh my gosh, they sold their company for a hundred million dollars or 3. You don't know anything beyond that. You don't know if it's a staged buyout, how much of it was cash, how much of it was in stock when they get it, how much went to shareholders, investors, debt. You don't know any of that stuff. Right. And a lot of times not all that money's upfront. Then there's taxes. So what am I saying? I'm saying get clear on what you want. And I can tell you some of the fundamentals. You have to live extremely below your means, if you can. So I think one of the reasons I've been able to generate a pretty good income in my life, and I don't say that to brag, do you? I say that to say that I'm qualified. I say this to you because, listen, when I was making minimum wage, working at an orphanage, I still opened Up a forced savings account in a mutual fund for $25 a month. No matter what I've ever made, I have paid myself first. I have tithed and I've paid myself first. Then I paid the other things. So if that meant I had to go without a cable TV back in the day, which would be equivalent to Netflix now, I went without it. If that meant I had to make my lunch to bring to work, so I didn't blow 10 or $20 a day on lunch, I would do that and save that money. And because I started those habits young, or at some point I started them as my income went up, I stayed the same way. One year I made multiple six figures and I was living in a $700 a month apartment, just saving the money. And so what I think most people underestimate is to the extent that you should live below your means. And I know it's very vogue on social media. Spend all your money, invest all your money. These are typically people that have never been wealthy or are wealthy temporarily, like those people I just told you that are seven to 10 times more likely to file bankruptcy, even though they make $1 million a year, even though they make a half a million dollars a year, because they have absolutely no money concepts, they do not understand the truth. So this idea of get all of your money out of the bank, invest all of it, go into debt, that works for a while until it doesn't. So should you invest your money? Yes. Should you? I think you should have some that you save, some that you invest. I think some of it should be very conservative. And I think for the vast majority of people, they're like, ed, I just like to shave off 2 or 300 bucks a month if I could. And what I'm saying to you is, if you could shave off $50 a month, now, if you're on minimum wage or $25 a month, $10 a month, somehow start the habit of what a wealthy person does that as your income grows and you keep that same habit, you cannot be one of these statistics and you can actually get wealthy. Because the truth of the matter is, go around your town, okay? Go around town. There are people retiring with some dignity. There are people retiring comfortably. And I know one of your dreams of your life is to someday be able to travel someday, be able to give more to your church someday start your foundation someday, be able to retire your parents. And by the way, many of you listening to this are at an age where someday, maybe now, but certainly in the future, you may be caring for your children and parents at the same time. And right now you're having a hard time just caring for yourself. So it's important that you begin to develop these habits. Some of them is extremely living below your means. And as you make more money, do not change your lifestyle. Actually save some of your money in cash when you can. And if none of that's possible for you right now, then what are you going to do to start to generate new income? Are you going to be an Uber driver? Are you going to do doordash? Are you going to start a second business? Are you going to start a side hustle? Are you going to get a second or third job? You know, when I was a little boy, my dad worked three jobs and we were on welfare for a while and we got off of it. And the way that we got off it is my dad worked two and three jobs at a time. And I just see if I can be really candid with you. I just see a lot of people who say they're broke that seem to have a lot of free time on the weekends. I don't understand that unless it's just like you're hoping something's going to change. And so there's a season of life where we've got to sacrifice for our future, sacrifice for our children, sacrifice for our parents. And I just believe in you. So I'm talking to you like a friend today. This economy that we're in, I don't know if it's rigged or not, but I just gave you the stats, right? So could you get to another $20,000 a year part time doing something? $50,000 a year part time? Right. Could you start something part time that generates no income for three or four, five years that turns into a full time, beautiful career? If you're already an entrepreneur, maybe you should have a job to supplement your entrepreneurial journey. You know, it's not a secret that when I started out as an entrepreneur, I had so many ups and downs. I had to go back and get jobs at night. I stock shelves in a grocery store three years after starting my business because we went backwards and I was going to go broke, but I wasn't going to give the business up. So I'd work in the day in my business and then I would get dressed and I would go to work and stock shelves in a grocery store at night. Did I have less sleep? Yeah. It was a season of my life. I was laying the foundation so that someday I could get on a podcast, go like a million dollars. Since 25 years and eight figures since then. And so although that sounds a little maybe, I don't. I hope it doesn't like I'm bragging. I also stock shelves, also had two and three jobs at a time, also had businesses fail. I've also lost a house. I've had a car for repossessed before. So I know what that's. I've had my power turned off multiple times. I had my water turned off. Water. Imagine that. I had lost my house, moved into an apartment with my new bride, and then our water got turned off. We couldn't cook, we couldn't brush our teeth. We had to get up every morning and go down to the apartment complex shower, the outdoor pool shower. Every apartment complex usually has one by the pool. And I would hold a towel up while she would take a shower and brush her teeth. And then she'd hold the towel up. Well, I'd take a shower and brush my teeth and then we would walk back to our apartment as everybody else was going out to their job. And everybody in our apartment complex knew I wasn't providing for my family. And actually, during that time, she had two jobs to support me as an entrepreneur. These are the things we do in order to change our family's future. To have generational wealth, to never have the world had their thumb on your family again. So I just want to encourage you as a friend every week. I'm very uplifting and encouraging on the show, but every once in a while, three or four times a year, I like to do a show and go, here's where we're really at. Where are you really at right now? As you listen to today's show, how much money do you have saved? Could you go two or three years without working right now? If your parents needed you to float them 40 or $50,000 in an emergency right now, could you do it? What if you and your husband or your wife, both cars got broken down right now? Right? Is college money saved for your children? And if they're not going to college, help them start a business. Are you on pace to have $3 million, say, for retirement so you can retire at the same level of life that you are at now? Not traveling, not something beautiful, not owning a jet or a ship, just sustain your current lifestyle? Are you on page for that? And if none of that's true, what are we going to do about it? Right? And let's just face it. And here's what I think. I think you know what you need to do about it. See, you're one decision away from completely changing your life. One decision. And I have an inclination, a hallucination, that you might know what it is. Maybe it's that you need to stop spending the money in the places you spend it. Maybe it's that you need a second job. Maybe you're an entrepreneur who needs to get a job. Maybe someone in your family needs to get a secondary income. Maybe you need to just start a hustle and start a business that provides a future for your family. One other thing too is there's this thing on social media about multiple streams of income. Here's what I believe about that. Most millionaires made their money in one lane first, and then when they became millionaires, they diversified their income. So it's one of those facts that's not true. Now, what I do believe in multiple streams is if you have a W2 job, I believe in another stream of income that's 1099. Okay? So in that case, it's multiple streams. There's your job, employee, W2 money. And I believe you should create another stream over here that's 1099. Independent contractor type income. I do believe that. Or if your W2 income is so low that you need to start driving Uber or doing something doordash or whatever it might be to supplement your income. What I don't believe in is entrepreneurs who are trying to generate 4, 5, 6 streams of income, thinking that's the way to get wealthy. And here's why it doesn't work. Because to get wealthy, you're dealing with killers. You're dealing with the best of the best. If you're going to get to these stats where you make a half a million dollars a year, or you make over $290,000 a year, or you want to go make over a million or $10 million a year, you are competing against the best in the world at whatever you do. And if your income, your focus is diversified to three or four other things and I'm full time crushing in my industry, I'm going to beat your distracted focus, right? Imagine this. We're at the top level of professional baseball, right? You and I both are. But you also play the piano six nights a week in a bar and you also deliver furniture. Who's going to be the better baseball player? I am, because I'm full time laser focused on baseball. And so if you're going to be an entrepreneur, you got to get dialed in on that industry and dominate it. Get to seven figures and then diversify. But this idea that I got 200 coming from here, 300 coming from there, 50 from it. That's not how it works. I don't know anybody where that's ever happened before. So it's a fact that's not true. Because to make seven figures you got to be great, you're going to be obsessed. I don't care what the industry is. You got to be so dialed in, laser focus, outworking everybody in that business, out innovating, out thinking, out strategizing, out energizing out everything that if you're doing three or four things and I'm doing that one thing, crush it, I'm gonna kick your butt, I'm gonna win at it. And so you have to get laser focused as an entrepreneur. The only other income stream you should have other than your main business, if you're not at a million dollars a year at is some part time job to supplement this business you're trying to get off the ground. I have done that before. But I can tell you straight up, if you think you're going to do mortgage over here, own a donut shop over there and a dentistry practice over there, someone who's in donuts full time, someone who's in dentistry full time, someone who's mortgage full time is going to take your candy. They're going to win because they're laser focused all the time. And your focus is diverted, watered down. Once you get to seven figures, that's when you diversify if you're an entrepreneur. And again, I know money isn't everything. I'm proof of that. Guys, I'm. I will tell you though, the lack of being able to provide for your family can become debilitating, become a great worry. I have many friends that are my age and older that are now facing a time in their life where they're scared. And they're in their late 50s, mid-60s and they're starting to get scared because their earning years are going to run out at some point. And by the way, the cool thing about entrepreneurship is those earning years. Colonel Sanders didn't start his business till he was in his 70s. Ray Kroc didn't become really successful until his 60s. Really successful. Sam Walton, you know, there's all these new young entrepreneurs, which is great. You can become a new and young entrepreneur, but you can also do it older. And there's lots of stories of that. So I just wanted to do a wake up call today. The stats are the stats, right? The gap is getting bigger and bigger between the haves and the have nots. And you could say well, it's the system. It might be the system, but it is the system. So what are you going to do to win? Right? What are you going to do to change this? And I would only give you all these stats and say all these things to you because I know you're capable. I know it's possible. I know you can do it. I think you know what the decision is. Maybe it's to stop spending so much damn money. Maybe it's to sell that car you've got and downsize a little bit. Maybe you don't need the house you're in, and maybe it'd be better to downsize a little bit. Maybe it's starting a business. Maybe it's getting a job. I don't know what it is for you. I don't know. Maybe it's just finally getting a budget, you know? And maybe if you're a really young person listening to this, it's like, wow, I'm 20 years old. I'm going to start saving $50 a month or $25 a month, even though that may not seem like a lot, even if it's $10 a month. Okay, I'm going to start the habit of what a wealthy person does. I'm going to start the habit of what somebody provides for their family does. I'm going to do the right thing. Some of you, it's going to decide to live dramatically below your means. Some of you, it's going to be, you're going to start to buy your first real estate property outside of the one that you live in right now. You're going to work on that and get some sort of passive income or I don't know what it is for you. Some of you, it's going to go, I'm going to pick up a book on money today and just start to learn about it. Some of you, it's gonna go back and listen to the beginning of this podcast again and just really get focused. You can do this. We can do this together. I promise you, three, four, five, six times a year, I'm gonna do things on this show that's gonna help you with your money. I help you with your emotions, your body, your spirituality, your fitness, your personal development, your entrepreneurial journey, your persuasion skills, communication skills, you name it. Mindset. We do all of that on this show. We're also going to make sure that everybody, okay, everyone here at least has information to be okay financially. And so I know you can make this happen. I know you can create a change. I know it's not too late. It's not. It's never too late. There's always a way out. There's always a solution. There's always an answer. And you can find that answer. All right, everybody. I'm here to support you and tell you the truth. Give you the stats, give you the information, and then you make the decision. What's the decision? You're one decision away from changing your life. What's that decision? Today. God bless you, Max Out. This is the Ed Milan show.