Understand Dan Lok’s Financial Journey – How to Invest Like A Millionaire Ep. 1

Understand Dan Lok’s Financial Journey – How to Invest Like A Millionaire Ep. 1


– How millionaires invest and manage their money differently. This is the first time
I am doing a workshop or a meeting on how to
invest and manage your money. I’ve been doing this
for almost two years now and I’ve been always talking
about how to make money. How to close sales, how
to do lead generation, how to do positioning,
how to do marketing. All these things and this is
the first time that I do it because a few months ago I
did a survey to our members and I gave them a list of
topics that they want to learn and they say, “you know
what, one of the topics that we want to learn Dan,
it’s how to manage our money” and that’s interesting
because this is something I love to talk about but I wasn’t sure if the group is ready for it. (dramatic music) – Now, just before the workshop
that I got a few e-mails from our members. They’re saying “you know what Dan? I’m struggling with money
or I’m still learning how to make money or I don’t
have any money to manage, so, you know, this workshop ain’t for me.” And there lies the first fucking problem. It’s like this, it’s absolutely moronic. It’s like saying I’ll
exercise when I’m fit. You don’t wait till you’re
fit and then you exercise. You exercise to get fit. So, if you don’t have any money right now you don’t wait till I’ll make more money, then I’ll learn to manage it. The very fact you don’t have
a lot to manage right now shows you don’t know how
to fucking manage it. It’s very simple. So, it’s not that you
wait till you have money, then you do it. It’s that along the
way, as you make money, you have to learn how to manage it. If you making 5,000 a
month and you can’t manage 5,000, what makes you think
you can manage 50,000 a month? What makes you think you can
manage half a million a month? You can’t even manage the
fucking five grand that you have and that’s how it works. Money is attracted to people
who knows how to multiply. Write it down. Money is attracted to people
who know how to multiply. That’s why the rich get richer. Has nothing to do with opportunity. It’s for them, it’s not for others. It’s not about that. It’s because they have
the skillset to multiply and money’s attracted to that and that’s why they grow their
wealth in a very rapid pace. So let me share something
with you off my own, kind of, financial journey, okay? Now I’ve not always been
financially successful. I once struggled, just like
most people from month to month. Living, kind of, pay check to paycheck and trying to make ends meat. The lowest point of my
life I remember back then when I had no money and at the
time I was living with my mom in Surrey in a one bedroom
apartment that we rent and my mom and I would go to the… There’s a bakery near my
house about ten minute drive and once a week, we’ll
go there around six PM. Now, the bakery closes at seven PM. You know why I go at six PM? (audience murmuring) Yep, because you can get a load of bread for just a few dollars and my mom and I would buy that load of bread
and we ate that for breakfast, we ate that for lunch for the entire week and my mom and I would go
to the store, SuperStore, the grocery store and we would go to, not the vegetable fruit
section, we would go to the corner where they
have the almost expire food. How many know what I’m talking about? Yep, we buy groceries like that. So I know what it’s
like not to have money. I know that. We had, I had multiple
credit cards all maxed out. Trying to max out this one
and do cash withdrawal, trying to make minimum payment
on that one and then that one is maxed out and try to get another card and that one is maxed out. I know that. Through my business
failure, at one point I was 150,000 dollars in debt. 150,000 dollars in debt. So, when I first started making more money as I turned my life around,
I often lived beyond my means and on many occasions, just
spent, just spent money and struggled to pay bills on time. Now, although, on the surface
based on my lifestyle, driving a nice car and
I was spending money and I was going on vacations
and buying my friends dinner and all that stuff, to be doing quite well but the reality is I was
spending so much time worrying about money and
my financial situation. Now, why, and when I first
started making money, why did I feel the need to spend it because, when I had no
money, I had no self esteem. I had no friends, so as I
make more money I thought if I’m buying my friends
dinner, by treating them well, by taking them on vacations,
that, gets what, I get what? What? Friends, attention, makes me feel good. Yeah, maybe a little bit even love, right? Just get some attention for me. I thought that’s what you do to friends. Now, let me ask you a question. If my friends are friends with
me because I buy them stuff, are they true friends? No, they’re not true
friends because true friends are with you no matter what. Doesn’t matter how much money you have. I learned that lesson
because when I stopped buying them stuff, they
stopped showing up, right? So maybe there’s something
wrong with my personality. So, in my twenties, I had
focused most of my energy and time knowing how to make more money. Now, here’s the key. I had to believe that, which
I now know to be false, that I could just make more money. Everything would work out. Now, put up your hand, how many of you are very good with sales and marketing and making money, it’s
relatively easy for you? Just put up your hand. You’re good at making it, okay? Same thing with me. I thought, oh, easy, I
can make another sale, I can do more marketing,
generate more leads, close another sale. I can make money. Nah, no problem, I can always make more. I can always make more. And I came to realize that
that just wasn’t true. It just wasn’t true and my incoming income continued to go up but my
situation never really changed. At first when I was, started
kind of have a little bit of a break and I was making
2,500 dollars a month as a copywriter and I
pray to the universe, and say, you know, please, please, just let me double my income. Let me get up to 5,000. I will never, ever, I will
never ask for anything else. Just get me up to 5,000. I’m happy, my mom, I’m picking up my mom. I’m good. I can no longer have to buy, you know, those expired groceries. I can buy some real groceries and I get to 5,000, what happens? You want more. Then I’m praying again,
please, please, like, universe, just let me, just double
that one more time. 10,000 a month, yes, 10,000, I will never ask for anything again. I hit the 10,000 and you
found ways to spend money. Better car, better stuff
and then you get 10,000, of course, same room I pray
again cause it kind of worked. Somehow, please, whatever I
was doing it’s kind of working. Since I was spending so much,
please just let me double that one more, just, I’m not
greedy, just one more time. I will not swear anything again ever. Let me double down. 20K, that’s all I need. You get to 20K, you find ways to spend it. Same room. Hi. (laughs) Yes, it’s me again. It’s me again and that did not work. That did not work, so,
the only difference was when I was younger and earning less, the behavior was the same,
but when I was earning less, now I have a lot more
debt and a lot more stuff. A lot more toys, a lot more
stuff that I could spend but kind of the same. If you look at my financial
statement, it’s the same. Doesn’t matter I was making, you know, 2,500 dollar a month
and now 25,000 a month, my cash flow pattern. What is it? – [Audience] Cash flow pattern. – It’s the same, it’s a poor
person’s cash flow pattern. It doesn’t matter how much I make, I just spend it. How many of you can find
ways to spend money? Quite easily, yes? You notice, when you have, when you were just getting started in
your career, what you want and what you need, it’s like, well, this is how much I want… Actually, how many of you have done that, like hey, you know what,
this is all I need. Just let me double that,
it will be nothing. How many of you have done that before? Is it the same room? Same prayer? Right? So, I was getting a new car. Now, this was, back then
I had my Mazda sport car and you can see my oversized suit, my fucking glasses, my spiky hair. Back then I was younger. So I was getting, I was getting
a new car every year, right, and I got the Audi R*, that
was nice and all that stuff. I mean, would go out to
dinner with my friends and we would drop, like,
3K, three grand a night and I don’t even fucking drink. I do not drink and we drop three grand. How, I have no clue. I don’t even know what they
eat and what they drink. I have no clue. So, we’re spending this money stupid. It was very, very stupid. So, why spending money feels good and this is the psychology of it. I think because, it’s just my logic. Kind of what I came up with. I believe when you are poor,
you’re surrounded by things that you think you would like to own. Oh, the nice car, the
nice house, the vacation or those things that I want to buy but cannot afford to buy but after a while you associate the feeling
of unsatisfied desire with poverty. So, when desiring begins to feel poor, having things seems like
they will make you feel rich. I’ll say again. When desiring begins to feel
poor, having seems like, like it will make you feel rich. So, I was feeling
unsatisfied and I thought buying the next car, buying the next thing would make me happy. Now, how many you have
had this experience? Maybe, even guys, like,
you have this dream car or whatever you want to buy. Whatever thing, it doesn’t have to be car, but it’s a big purchase, okay? That you really want to get
and you work your ass off and you get it and the happiness lasts for, about what, how long? Hm? Couple months, maybe a few
days, maybe a few months. In some cases maybe a
few hours, who knows, whatever the thing is. Then, guess what, then we look
for the next thing, right? I’ve done that, I’ve done that. Nothing wrong with that and
I tell all my young mentees, even I tell them “don’t
go buy the sport car,” they’ll still fucking do it. I know that cause they need to
get that out of their system. They need to, you know,
yeah, I said don’t. Don’t buy the Maserati. It’s, really, it’s not necessary. Yeah, yeah Dan, I know, I agree with you but let me buy it, let me
learn it myself, right? Then I’ll drive something, something else. They all have to go through that. Nothing wrong with that. I’ve gone through that. I learned it very, very quickly. I still like nice things,
don’t get me wrong and I’ll share with you how
you can have the nice things and still have the freedom that you want. So, realize that just making
more money was not the answer. Making more money was not what? Was not the answer. So I had to learn how to
properly manage my money. Whatever money that comes in. And I had to learn how to
acquire and create assets that would create wealth. There’s a very big difference
between making money and creating wealth. Some of you are very good at making money. Also good at creating wealth. They’re two very, very different things. Just because you know how to make money doesn’t mean you know
how to create wealth. They’re two very, very different things. From that point on, I made it my mission to locate and study all the information I could find on the subject of money. Making it, keeping it,
growing it, multiplying it. How do you do that? And through the effort, trial and error, a lot of blood, sweat and
tears, I now have developed a set of principles and guidelines which is what I’m gunna
share with you today, okay? Does that sound good? – [Audience] Yes! – Yeah, which is what I’m
gunna share with you today. (music)

Comments

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    D •

    To me, the best feeling in the world is when you give your parents a nice present and the way they react and the look in their faces is priceless. You feel fulfilled as a person.

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    Cardcaptor Serene

    wow cant wait for the next video on the principles and guidelines on creating wealth. thank you for sharing this for free. its amazing

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    anarki777

    I'm excellent at not spending money and I understand how to make good investments. How do I do the making more money part? 😀

  7. Post
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    Mistah AC

    This was amazing Dan! You always bring such valuable content in every video – like actual game-changers for me. I need to see the rest of this talk! Haha
    I've got a good cash flow business generating me 5-6 figures per month so I'm building up a good savings. I'm going to keep investing in more businesses that I'll be building but I don't know where else to invest it. I would love to invest in businesses that are hands-off but I don't know where to find them

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    Thuy-Hong Nguyen

    While happiness comes from within, pleasure comes from getting things, e.g., an expensive car, and whatnot.

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    Leo Atansil

    Hi Dan. Iam Leo, nice to watch you. Im interested at your experience of business failure with 150k debt. Do you have a link when you tell the complete story about it ? How you solved that "problem", how you dealt with maybe the "terror" of the debt collector, how you felt, strugle or anything. Thanks Dan. Respect

  17. Post
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    aland Kaban

    Thank you for sharing this Dan ❤️
    But have you shared a video about the principles and guidelines that you mention at the end of the video??

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    Nicholas Mirante

    Sifu Dan
    I am wanting to know more about the investing. I still want the fancy car for comfort. Driving Maxima fully loaded, but I want that Infiniti next then the Lotus. Sorry, I have to be upfront.
    Nick Mirante NY

  21. Post
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    Adekunle Adeleye Folorunsho

    I love Dan Lok. I have read his F.U. MONEY book and it was a great turn around! Thank you for being real and being so down to the earth!

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    Emmanuel Ohale

    What stood out for me in this video, Dan, is the cash flow pattern- the way I understood your explanation made a lot of sense- no matter how much a person makes, how they move their money around will determine if they will get in debt or not- something to keep in mind. Thanks for explaining it so clearly.

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    Wendy Coffman

    That's why most PowerBall winners lost all of their money in a few year, they don't know how to manage their money.

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    Adrian Rice

    11:20 Dan "don't buy the Maserati you don't really need it" …Mentee " I know I dont but ..Lol" .Great content Dan!

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    RADEK BELIK

    Hi Dan , I am at the beginning of investing all of my incomes into the bitcoins. What do you think about investment in this? I don't want to waste your time

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    London Lens TV

    After watching this 3 times, I’ve booked lessons, improved my skillset and doubled my fees. Let’s see…

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    MARK MORAN

    Thank you. Dan. Really like that bob Proctor said that Solomon said if you get anything thing get understating. Been sitting with a money in my hand and asking my self what comes up when I see this. The sub conciousness was horrendous. But I knew then that I needed to change my relationship with this tool. How do I learn the game of wealth. Listen to the people that our truly living the life. Saw your post of Facebook and came over to your channel. I work all hrs in £80,000 in dept live at home with my parents. It's not all bad I do have many joys in life but the one thing I don't have is my independence it's the only to thrive living the way you do. Being able to generate wealth and maintaining it while being a fully embodied being. Understanding who and what you our and why you have to live this way is the mindset of champions.

  37. Post
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    Raphael Maglalang

    i wanna learn a lot from you Dan Lok. Can u mention me in your videos sometimes ? hehe. i will be glad of it. i am aspiring innovative entrepreneurs . im really interested in others things that other people neglect . can i tell you something? i know you don't know me. u might refuse to reply ,but it will be agood motivation on me. i am 19 years old . i will immigrate to US . i am from the philippines. now, the thing is my sister will be enrolling in DLSU next next year and she will take medicine, she want me to help her paying her tuition fees . huhuhu.I was surprise how big it is! i am thinking of investing . i keep learning stocks and businesses and entrepreneurship. this is my fucking game.

    iIwill be working in US – whatever works available there .but i am hoping to work in network markreting, bu not really sure that it will happen there quickly ,because just like you i feel that i have the power of pursuasion . what would you say?thank you!

  38. Post
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    Mia Almendral

    You really are a gem sir, it's also nice hearing your story coming from the other side…thank you. If you can do it, we can too!

  39. Post
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    Abhishek Paul

    Sir I know you aren't gonna get through this reply as you probably run out of time busy with your schedule…I just wanted to tell you that I have actually been through almost all the videos you have posted in YouTube and the other way around.
    What made me feel special about you that you have actually saw very tough times in your life I mean very tough ones, that's what connect me to you and really made you my true Idol 2 get success from what I am suffering as you had. I personally think that money doesn't really matter when you have your passion to fulfill your dream and it can actually overcome the enthusiasm to become a billionaire without even having money at the initial by working harder and harder and becoming good each and every day.
    At last I would like to thank you for all you have given me as a true source of influence.
    Thanks again.
    Your true Shishya ( apperentice)

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    LS

    Subbed 1) because you are Canadian 2) because I too known how being poor feels and I really like learning from people with money but I love learning from people who truly came from nothing…like me. Not millionaires who temporarily lost everything, but people who understand buying food from the discount rack. 😎👊🏼
    Thanks!

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    炜ky

    Hi sir, your video step in when I needed it!! Thanks god I found you. What does online store strategies looks like? How should I market my self so I can earn more in site like LAZADA…

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    Smart G Home

    Thank you very much for sharing & inspiring us with such valuable information. Wishing you all the best! I will work hard to strive better!

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    Nzamwita Nino

    just got into your account and I think my life is gonna turn around very soon, the tip is I have to start right now , it is my momentthank you for your content

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    Ashish Sudame

    Hey Dan, the video is so inspiring. You motivate me with your every word and sentence. I do mean it. Thousands and Millions those who are watching these videos, are definitely benefiting from these. Keep spreading your kind of wisdom. Thanks a ton.

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    Mimay Balabat

    You are a very powerful speaker Dan Lok. 👏 I am addicted to your videos. Thank you for sharing your wisdom. 😇

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    Omar Rochet

    Dude this guys like how do this and that to be a millionaire. You can’t do nothing unless you get a solid paying job, save up some solid capital and then invest in side business, franchise, etc.

  61. Post
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    Edwin Medina

    I remember when I wanted something expensive whatever it was, I would save have enough to buy it but when I was going to the cash register I would think twice about if I really needed it! 95% of the time I would leave it due to the fact that I had the ability to buy it. I still do that 😅 same thing with a car so now im looking for that Red Ferrari. Perhaps I'll get there one day to buy it in cash or get a good deal but by then I'm going to think of just renting one to leave the expenses, maintenance, storage and wear and tear as well as depreciation out of my life lol. Enjoy the amount of energy Dan has teaching 👍

  62. Post
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    Amine Wilson

    Hi, I am very new to online businesses and trying to make my way. I learn from you a lot .. thank you for sharing your knowledge.

    I Would be much appreciated to tell us your story; how did you manage your way up, your jouney from been poor to a very successful entrepreneur!

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    Darius Myers

    I want millions of dollars but I want to be like Warrant buffet except I do want a nice big house but I don't want any boats or expensive cars or jets I just want the money so I can live a comfortable life

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    enna ortsac

    I Should
    Create multiple sources of Income
    1 Active Income which is my Job my
    Monthly Salary
    6 Passive Income
    My Businesses while working
    While Doing my Job
    6 Passive Income in Different Fields in Different Industries
    But First I should Improve in Execution of Right Money Blueprints And I should have extraordinary Marketing Strategies
    Now That is the biggest challenge for me That is my obstacle how am I going to plan a great Marketing Strategy How Can I Execute Properly My Right Money Blueprint

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