Summary: <b>Use the timestamps below to guide you better as a leader or individual:</b><br><ul> <li> <b>Taking out a loan.</b> <a href="https://otter.ai/u/e1VoNC2NOyRVHXsobEneouDdPT0?tab=summary&t=1s" target="_blank" rel="noreferrer noopener">0:00</a><ul> <li>The three big things to consider when deciding whether or not to take out a loan, and why going into debt is one of the biggest mistakes.</li> <li>The short and sweet answer to today's topic.</li> </ul> </li> <li> <b>How to leverage your cash.</b> <a href="https://otter.ai/u/e1VoNC2NOyRVHXsobEneouDdPT0?tab=summary&t=118s" target="_blank" rel="noreferrer noopener">1:58</a><ul> <li>Leveraging cash to get out of bad sticky situations and get yourself out of sticky situations.</li> <li>No other 1920 21 year olds know how to handle their finances.</li> </ul> </li> <li> <b>The difference between business debt and personal debt.</b> <a href="https://otter.ai/u/e1VoNC2NOyRVHXsobEneouDdPT0?tab=summary&t=248s" target="_blank" rel="noreferrer noopener">4:07</a><ul> <li>Understanding how to think about loans. First things first, is it a business or a personal loan.</li> <li>If your business is bringing in over a million dollars a year, most of most of your business debt will be considered personal debt.</li> <li>The first reason people take out a loan or a line of credit is because they might seek a loan to purchase real estate.</li> <li>Chris has a fail-proof idea. He has heard about 4000 people lose in their business because of failure-proof ideas.</li> </ul> </li> <li> <b>How much money do you really need?</b> <a href="https://otter.ai/u/e1VoNC2NOyRVHXsobEneouDdPT0?tab=summary&t=540s" target="_blank" rel="noreferrer noopener">8:59</a><ul> <li>Real estate is one of the safest investments that you can make right now. Over the long haul, it should continue to go up in value.</li> <li>When you are financially ready to make a purchase of this size, you have your financial ducks in a row.</li> </ul> </li> <li> <b>The best way to save money.</b> <a href="https://otter.ai/u/e1VoNC2NOyRVHXsobEneouDdPT0?tab=summary&t=700s" target="_blank" rel="noreferrer noopener">11:39</a><ul> <li>The best idea for a young couple is to buy the smallest thing they can possibly get in five years.</li> <li>At the end of 10 years, you will have a large chunk of change that you can put down on your forever home.</li> <li>The pros and cons of paying off a mortgage before buying a house, and why Chris believes that most people aren't prepared financially before they take out a loan.</li> <li>The cons of buying a home before paying taxes and repairs.</li> </ul> </li> <li> <b>You’re inviting Murphy into your life.</b> <a href="https://otter.ai/u/e1VoNC2NOyRVHXsobEneouDdPT0?tab=summary&t=973s" target="_blank" rel="noreferrer noopener">16:12</a><ul> <li>You're inviting Murphy into your life because what's going to happen is the AC is going to break.</li> <li>A prudent person with insight foresees danger coming and prepares himself for it.</li> </ul> </li> <li> <b>Most people get a credit card because they want to be prepared.</b> <a href="https://otter.ai/u/e1VoNC2NOyRVHXsobEneouDdPT0?tab=summary&t=1085s" target="_blank" rel="noreferrer noopener">18:05</a><ul> <li>Most people get a credit card because they want to be prepared for an emergency. This is not how to prepare yourself financially.</li> <li>Most people don't want to think about the future.</li> </ul> </li> <li> <b>What is the hardest work there is?</b> <a href="https://otter.ai/u/e1VoNC2NOyRVHXsobEneouDdPT0?tab=summary&t=1200s" target="_blank" rel="noreferrer noopener">20:00</a><ul> <li>Henry Ford thinking is the hardest work there is, which is probably the reason why so few people engage in it.</li> <li>The second biggest reason why people get stressed out.</li> <li>The best way to keep up with someone who is debt free is not to buy what they have, but to make smart decisions.</li> <li>Why business owners have the hardest time buying new stuff.</li> </ul> </li> <li><b>The third...</b></li> </ul>
