The REAL Solution to Your Financial Problems! (No Matter Who You Are)
Summary
TLDRJoshua Marine emphasizes that challenges are intrinsic to making life interesting and meaningful. He argues that personal finance is 80% behavior and 20% knowledge, asserting that systemic racism is real but not a barrier to wealth creation, as evidenced by successful minorities. Marine encourages overcoming obstacles through personal responsibility and behavior changes, rather than relying on government programs. He shares his own experience of financial loss and recovery, advocating for learning from mistakes and adopting principles like getting out of debt and working hard to achieve abundance.
Takeaways
- 🤔 Challenges make life interesting and overcoming them gives life meaning.
- 🧠 Personal finance is 80% behavior and 20% head knowledge, emphasizing the importance of actions over knowledge.
- 🌐 Systemic racism is real but it does not prevent minorities from becoming wealthy, as evidenced by many successful individuals from humble beginnings.
- 🚫 Extra hurdles exist for some, but the choice is to overcome them rather than to blame systemic issues for failure.
- 🛤️ People's paths to wealth vary greatly, influenced by upbringing, education, and geographical location, but success is possible regardless of these factors.
- 🙅♂️ Government programs are not the key to wealth or success; individuals must take personal responsibility for their financial well-being.
- 💼 Success is a result of personal behaviors and character, not waiting for external fixes or handouts.
- 🚫 It's not about blaming external factors for lack of success; it's about taking responsibility and learning from setbacks.
- 📚 Studying the habits of successful people and understanding the principles of wealth creation is crucial for financial success.
- 💡 The speaker's personal experience with financial loss and recovery highlights the importance of self-reliance and learning from mistakes.
- 🏔️ Everyone faces obstacles, but it's essential to identify and overcome personal beliefs that may be holding one back.
- 🔨 Embrace the truth, let go of lies, and adopt behaviors that lead to success, as no one is coming to the rescue—self-empowerment is key.
Q & A
What does Joshua Marine believe makes life interesting and meaningful?
-Joshua Marine believes that challenges make life interesting, and overcoming them is what makes life meaningful.
According to Joshua Marine, what percentage of personal finance is attributed to behavior and what to head knowledge?
-Joshua Marine states that 80% of personal finance is attributed to behavior, while only 20% is attributed to head knowledge.
Does Joshua Marine acknowledge the existence of systemic racism, and does he believe it prevents minorities from becoming wealthy?
-Yes, Joshua Marine acknowledges the existence of systemic racism, but he does not believe it prevents minorities from becoming wealthy, citing examples of wealthy minorities who started from nothing.
What are the two options Joshua Marine presents for individuals facing systemic racism?
-The two options Joshua Marine presents are to either win and blame it on systemic racism, or to succeed in spite of systemic racism.
What does Joshua Marine suggest about the role of government programs in achieving abundance?
-Joshua Marine suggests that government programs have not historically led to abundance, except in Washington DC, and that individuals become successful due to their behaviors, not government programs.
How does Joshua Marine define success in terms of overcoming obstacles?
-Joshua Marine defines success as overcoming obstacles through one's own behaviors and character, rather than waiting for external factors or people to fix one's life.
What personal experience does Joshua Marine share about his financial ups and downs?
-Joshua Marine shares that he became wealthy through real estate in the early 1980s, but later lost everything due to changes in banking laws and the sale of his bank, which led to the calling of his notes.
What advice does Joshua Marine give to those who have experienced financial loss?
-Joshua Marine advises to stop blaming others, take responsibility, learn from the experience, and change one's beliefs and behaviors to create a better future.
What principles did Joshua Marine study to understand wealth creation?
-Joshua Marine studied the principles of rich people and the Bible to understand wealth creation, which he found to align with common sense principles such as getting out of debt, living within one's means, and working hard.
What does Joshua Marine suggest is the key to overcoming life's challenges and achieving abundance?
-Joshua Marine suggests that the key to overcoming life's challenges and achieving abundance is to take personal responsibility, change one's beliefs and behaviors, and not wait for external rescue.
What is Joshua Marine's view on the importance of personal responsibility in achieving success?
-Joshua Marine emphasizes the importance of personal responsibility in achieving success, stating that where one is going in life is their own fault, and it's up to the individual to change their beliefs and behaviors to improve their situation.
Outlines
💰 Overcoming Challenges for Wealth Building
Joshua Marine emphasizes that challenges make life interesting and meaningful through overcoming them. He discusses the importance of behavior in personal finance, stating that 80% of wealth building is due to behavior and only 20% to head knowledge. Marine acknowledges the existence of systemic racism but argues it is not a barrier to wealth creation, citing examples of wealthy minorities who started from scratch. He presents two options: blaming systemic racism or overcoming it. He also touches on the varying paths to wealth due to upbringing, education, and geographical factors, but stresses that individuals from all walks of life can achieve abundance by overcoming obstacles. Marine criticizes reliance on government programs for wealth creation, advocating instead for personal responsibility and behavior change as the keys to success.
📚 Learning from Adversity and Self-Reliance
The speaker recounts his own financial downfall due to banking law changes and the subsequent loss of all his possessions. Initially, he blamed external factors like banks and government policies for his predicament. However, he eventually realized the importance of taking personal responsibility and learning from his mistakes. The speaker advises against waiting for external rescue and instead suggests introspection to identify and abandon false beliefs that hinder progress. He encourages embracing the truth, hard work, and perseverance as the means to change one's life. Drawing from his study of successful individuals and biblical principles, he outlines a path to prosperity that includes getting out of debt, living within means, and creating income. The speaker concludes with a call to action for self-improvement and resilience in the face of life's challenges.
Mindmap
Keywords
💡Challenges
💡Personal Finance
💡Systemic Racism
💡Wealth
💡Behavior
💡Responsibility
💡Abundance
💡Beliefs
💡Government Programs
💡Character
💡Self-Reliance
Highlights
Challenges make life interesting and overcoming them makes life meaningful.
Personal finance is 80% behavior and 20% head knowledge.
Systemic racism is real but does not prevent minorities from becoming wealthy.
Wealth can be achieved despite systemic racism and additional hurdles.
Individuals can build wealth from any walk of life, starting from nothing.
Success is not due to government programs but individual behaviors and character.
There is no historical precedent for government programs leading to abundance outside of Washington DC.
Taking responsibility for one's life is crucial for success.
Believing in external fixes for life's problems is a misconception.
The speaker's personal journey from wealth to loss and the importance of self-reliance.
The realization that blaming others does not lead to recovery or success.
The importance of learning from mistakes and changing beliefs and behaviors.
Studying successful people and understanding their principles can lead to wealth.
The role of hard work and creating income as a path to wealth.
The impact of external events like pandemics and the need to adapt.
The necessity to confront and overcome personal and societal obstacles.
The speaker's encouragement to take action and change one's life.
Transcripts
joshua marine said challenges are what
make
life interesting and overcoming them is
what makes
life meaningful personal finance
folks is 80 behavior it's only 20
head knowledge the behaviors and the way
you operate your life
cause you to be able to build wealth
or not in spite of all
of the things that come against all of
us
is systemic racism real
absolutely
does it keep someone of a minority who
is a minority
from becoming wealthy no
we know this because there are
minorities who are wealthy that started
from nothing lots of them
lots and lots and lots of them
but extra hurdles to overcome
you bet absolutely
what are your options not
win and blame it on systemic racism
or when in spite of systemic racism
these are your two options
is do some people have a
an easier path than others depending on
their
upbringing
their education the area of the country
that they're born into which
country they're born into you bet
but you can find people who have built
wealth and
live a life of abundance from every
possible walk of life
starting from nothing there there
they just chose
to fight through the obstacles some
having more obstacles than others
there are legitimate obstacles out there
the pandemic has slapped some folks
around harder than others
legitimately
but the question you've got to ask
yourself is
what ten years from now is going to have
led me
to a life of abundance
is it a government program well the
historical answer is
no there's never been a government
program that led to abundance
of anything except in washington dc
but individuals out here in the real
world we don't
become wealthy and successful because of
government programs
stimulus checks fifteen dollar minimum
wage
socialist ideals we become successful
because of
our behaviors
we become successful because we choose
our
character to be that now does that
shame someone that hasn't become
successful no it just tells
someone that hasn't yet become
successful how to do it
and it's not sitting on your thumb
waiting on a stimulus check
it's not sitting on your thumb waiting
on aoc
or biden or trump or anyone else to fix
your freaking life
there is not an answer to your problem
that's going to come out of washington
the sooner you take responsibility the
better you off you are
and that's not to say that where you are
is your fault
it is to say that where you're going is
your fault
and your beliefs cause your
behaviors and if you believe
the government is going to fix or some
person
or some movement or crusade is going to
fix
the barriers that are in your life
you're wrong
and if you believe that you're gonna sit
and wait on someone else to fix your
life
and it's never gonna get fixed
it is up to you
so i started from nothing when i came
out of college
and i started buying and selling real
estate and i became
wealthy at least by a kid from my
neighborhood standards i had four
million dollars worth of real estate
made two hundred thousand dollars a year
back in the ninth early nineteen
eighties
and that's back when two hundred
thousand dollars was a lot of money
i did a lot of stupid things like borrow
too much money like borrow it on short
term notes
and our bank got sold to another bank
and they called our notes and we spent
the next two and a half years of our
life
losing everything we owned some
of what caused that were changes in the
banking laws that encouraged and allowed
the banks to do that to me
and for a while i sat around and blamed
the meno bank and i blamed the irs
and i blamed ronald reagan for changing
the laws and banking that affected the
snls
and caused the snl crisis by the way the
destruction of an entire section of the
banking industry
i blamed everyone else
and i sat there for a while getting
absolutely no traction
and not recovering at all
from my losses and i just sat on my
thumb
and whined about everybody else picking
on poor old dave
but the revelation came along that if
you're gonna have that many lemons you
might as well make some lemonade
and a good friend said you need to stop
your whining you want some cheese with
that wine
and you need to get up off your butt and
go fix this and oh by the way figure out
what you learned
from all this pain what'd you learn
what'd you do wrong that you'll never do
again figure out what you're never
against are because of this
and so i started studying rich people
not broke finance professors with a
theory
how'd they get rich where'd their money
come from and how did they get it
and i was a baby christian and i started
studying the bible and what it has to
say about money
and both those sets of principles lined
up they're called common sense
get out of debt live on less than you
make
work like a maniac and create income
there's a great place to go when you're
broke my grandmother said to work
it will change everything when you do
that
everything and so when pandemics come
bankruptcies come when 2008 comes or 9
11 comes
when racism comes
or wealth inequality comes or someone
treats you poorly because you have a
southern accent or northern accent
or you have a college degree or you
don't or you have student loans or you
don't
whatever your mountain is that you have
to climb and you have a mountain you
have to climb
are taller than others
but you've got to climb the mountain so
you need to sit down and say you know
what have i done wrong so far
what are the lies that i believe about
life
that are holding me back and what am i
going to change
a lot of the things i believe came from
the neighborhood i grew up in
and a lot of the lies i had to lay down
and never again believe
came from the neighborhood i grew up in
some of the best qualities came out of
the household i grew up in
and some of the lies that i had to lay
down came out of the household i grew up
in and that's true of every one of us
every one of us so growing up
is setting down the lies and embracing
the truth
and hustle and grind get up and leave
the cave and kill something and drag it
home
if you believe someone is coming to your
rescue
you're screwed because no one is
it's up to you baby doll suck it up
buttercup
you got this you can do it i know
you can do it because i've watched tens
of millions of you
do it lay down the lies
pick up new beliefs embrace new
behaviors
and change your freaking life don't wait
on the government to do that for god's
sakes
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