April 27, 2018

The 10 Habits of Millionaires

The 10 Habits of Millionaires
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My friend Anze Mofor is here to discuss the importance of attending a live event to help anchor your financial future. Then I discuss the 10 habits of Millionaires. Becoming a millionaire doesn’t happen by accident. There are certain things that millionaires do to help cultivate an environment that increases their wealth. I talk about these things along with how important it is to have the right knowledge, team, and a strategy to move your wealth forward. 

You can find Anze here: 

Ask Loral  Anze Mofor 

Show Notes
  • [03:48] How it is preferable to learn how to make money as opposed to giving someone your time for money. 
  • [05:02] There is so much to learn about money. Laurel has been studying millionaire habits for over two decades. 
  • [05:47] The cannabis and crypto world is going to make the dot com look like the dot bomb. 
  • [06:44] Loral's team is very cohesive, and they all work together on your behalf. You will walk out with a money plan if you attend one of her events. 
  • [07:13] The money makeovers that they do are one of the most jaw-dropping things that they do. You will learn things that you didn't even know. 
  • [07:37] How Loral's workshops are so exciting that nobody wants to take a break. 
  • [09:22] At Loral's real estate events, her and her team will actually take you out and show you the projects. 
  • [09:42] How most people don't have a money plan but they need a money plan. 
  • [10:22] 50% of Loral's students get money back on their taxes. They know how to create a strategic plan. Once you have the plan, you have to work the plan. 
  • [10:41] They also teach about debt. Debt can be your best friend. Good debt can be used to raise capital. 
  • [12:34] Habits are just ingrained in you. Today, we are going to be talking about the 10 Habits of Millionaires and you can follow along with our PDF download. Our team will also follow up with you and do a mini money makeover.  
  • [13:41] Do you have someone in your world that you can call and ask any money question? That is why our community exists. 
  • [13:52] Millionaires have a team of people that they work with year over year, and they constantly add new people to the team. 
  • [14:14] 1. Our peer group is comprised of other successful wealthy people. Millionaires hang out with millionaires.  
  • [14:39] 2. We have many mentors annually. You move through mentors on a regular basis.You are the some of the people that you hang out with. 
  • [15:49] You have to have a team that understands all the nuances of taxes, entities, and so much more. 
  • [16:13] Cannabis and cryptocurrency are taking the world by storm. You can be a part of things, or you can sit on the sidelines. 
  • [17:25] In the next 5 to 10 years, digital currency is going to be how we exchange money. It's going to change and revolutionize exchange rates, banking systems, and everything. 
  • [17:35] It's the biggest disruptor since The Creature on Jekyll Island. 
  • [18:30] A mentor will save you taxes and increase your returns. The money you spend on a mentor is well spent. A mentor will also save you from extremely costly errors. 
  • [19:45] If you spend $22 a day with us for three years, you can become a millionaire.  
  • in 
  • [20:46] It's priceless to have a mentor help you avoid errors and speed up your money making timeline. 
  • [21:27] We don't spend a day wondering what we should do, we call someone and get their advice. 
  • [21:57] We also join masterminds and speak at other masterminds. 
  • [22:21] We'll stockpile or money in savings, we invest in double-digit returns. We do diversify it. 
  • [23:27] We have ninja tax strategists to understand how to live the corporate life. They help us strategize on how to move our money and keep our money. 
  • [24:16] We create strategic multiple streams of income. When there's a lot of money surging in one place, we actually separate that. 
  • [25:39] Companies make money, and individuals get taxes. We invest together. We operate as business owners. This makes our taxation and protection of assets different. 
  • [26:07] You have to have a legal and tax team around you to separate your finances in this way. Loral has spent 20 years finding the best team. 
  • [27:05] Lean and learn this conversation about money. 
  • [27:10] We get up and do what it takes to get the results without making any excuses. 
  • [27:41] We manage or transfer the risk. It's only risky if you don't have any knowledge. 
  • [30:44] We can help you by doing a quick little mini analysis makeover. 
  • [31:12] The biggest thing we'll handle for you is debt. We don't care if you have debt, we are going to teach you how to manage it and how to make money. 
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