114: What is the Freedom Formula?
I’ve really been thinking about this thing lately that they call the law of attraction.
I’m sure you’ve heard of it. Remember a few years back when that book, “The Secret” came out and they made a movie of it as well?
Actually, that book was sort of a rip-off of “the secret” that Napolean Hill talks about in Think and Grow Rich which was written about eighty years earlier.
The concept is simple—your thoughts become reality. Ok, so it sounds like a little self-helpish I know.
But think about it—what is part of your reality today that DID NOT start out as a thought? Your job? Your kids? Your house?
You thought about all these things at some point before they became your reality. In that sense, OF COURSE your thoughts became your reality.
It’s funny because my wife says that even when we first met—when I made $50K per year in San Francisco, I always acted like I had money.
If I was out to dinner with her or another friend, I always made sure to take care of the bill. I was always a good tipper and I always KNEW that I would make a lot of money some day.
Of course I was a surgical resident at the time so some might argue that making good money some day wasn’t much of a leap of faith.
But it was different and it is different for me than it is with a lot of people. I have a built-in abundance mind set. The idea that money and resources are limited doesn’t instinctually resonate with me.
I hate when people talk about living within or below their means. To me that defines a low threshold of means in the first place. I am, by no means, a spendthrift. But, despite joking about it on this show, I am not cheap—especially when it comes to expanding my means.
You see, last year alone I spent about $100k on financial education and masterminds. Some might call that excessive. But I don’t think so. This year alone, I will be able attribute about $1 million dollars in income directly to the information or people that resulted in that $100K total investment.
Would you invest $100K this year for a 1000 percent gain next year? Well, that’s what I did.
Meanwhile, I have had some tell me that $197/month for my course and network is too expensive. What am I going to say to that? My $197/month course, network, and mastermind are better than MOST of the $25k/year masterminds I have joined. If you thing that’s too much money to take it to the next level—then you won’t.
And I say that not because I’m saying you have to buy my course or be part of my mastermind calls to be successful. I’m saying that because you are not viewing the world through the lens of abundance. You see expense where I see investment.
Words matter. Mindset matters. I am living proof that getting yourself in an abundance mindset is paramount if you are ever going to be wealthy.
So when you listen to Dave Ramsey or Suze Orman, just remember, they are talking to poor people and those people will stay poor. Do you think Dave Ramsey and Suze Orman really live in a world of limited resources? They are entertainers and they make a lot of money pretending to think like the poor and middle class. But, guess what, with their own money they invest like the wealthy.
When I speak on this podcast, I am speaking to a wealthy person. That is my avatar. If you listen to me and my words resonate with you, you likely live in a world of abundance already.
Check yourself. Check your words. Check your thought patterns. Check your behavior.
Do you live in a world full of fear and scarce resources? Are you worried that you will run out of money before you die? Are you afraid that if you invest your money then you will lose it?
Or, do you believe that you are going to grow into someone healthier, happier, and more wealthy than you are today?
A 15 year old high school dropout once said, “If you think you can do a thing or think you can’t do a thing, you’re right.”
That, of course, was Henry Ford. And those words are the words of a wealthy man. But remember…the thoughts and the words come before the result. It always has to be in that order. You can change your thoughts and words consciously and I urge you to do so if you want a better life.
Speaking of a better life, my guest today on Wealth Formula Podcast has some different views then me but he also believes he has found the “freedom formula”. Make sure to find out what it is.
“I want to see every physician lower their taxes, destroy their debt, and enjoy a joyous, liberated lifestyle so that they can focus on what they love most- their families, their patients, and the activities that give them joy.”
– David Denniston
[14:05] Buck introduces David Denniston
[20:52] The freedom formula
[23:11] Pile of cash vs river of income
[33:49] The economy
[36:38] The tax bill
[51:08] More of David Denniston on:
- Flipping or cashflowing with land: https://www.wealthformula.com/resources/