Ballers throw money around —Ā because they have lots of it.
Iāll define a baller as a person who is living large. Sometimes itās difficult to know who is really a baller and who is faking it.
You see a guy in a Lambo and he may be a baller, but he may be just trying to be a baller.
There is a big difference.
The truth is, you can have a Lambo and not be a baller. Many guys throwĀ money around when they donāt really have that much of it, or itās all on credit.
My friend Victor Young, who owns a Lamborghini car dealership on the west coast of Florida, came on my show Power Players recently and said:
āSevenĀ figures is enough to make you worried, eightĀ figures is starting to get comfortable, but itās not until you get to nineĀ figures that you start to feel like a player on solid footing.ā
Whether you need seven, eight or nine figures to be a āballerā isĀ up for debate, but the truth is you have guys spending $500 at a club on the weekend who make less than $500K in a year. Itās ridiculous.
If you arenāt at least a millionaire, donāt pretend to be a big shot. The pretender spenders try toĀ impress everyone by picking up dinner, buying the bottles, buying the big car.
Look, if your only car is a convertible, you are a pretender. Ballers donāt roll like this. That convertible will be their fourth or fifth car,Ā they are all paid and theyāve got multiple garages.
A real player is not trying to impress people with sports cars, designer clothesĀ and VIP tables.Ā The wealthy donāt try and impress people they donāt know.
They seek freedom, not friends.
The wealthy are not trying to say “look at me and what I have.”
When it looks like they are throwing their money around, itās all relative.Ā When the wealthy spend money on ridiculous things like cars, boats, planes and homes, the truth is that no matter what poor investments they make, they can afford to waste money.
That is the freedom Iām talking about when you can spend money like it doesnāt matter.
The fake baller is a middle-class guy whoĀ is faking it. The wealthy personās extravagance is nothing compared to their discipline.
The money they are spending is minuscule from the abundance theyāve created.Ā Wealth wonāt make you happy, but living paycheck to paycheck wonāt either.Ā Wealth provides you with options.Ā If you ever want to be a real baller, you have to get wealthy.
To do this, you are going to have to do more than just āsaveā money.Ā Youāve been told your entire life to save your money.
Itās impossible to create real wealth saving.
You canāt show me a wealthy person whoĀ has ever gotten wealthy because they saved their money, or because they are bargain hunters who clip coupons.Ā Your mom and dad said save your money.Ā The wealthy donāt get wealthy like thatĀ But you will still need to save.Ā Let me explain.
If you put your money in the bank you might get 0.25 percent, thatās 40 years to earn 10 percent on your money.Ā The banks donāt pay anything today.
Money that sits in the bank, or in your house, always seems to find an emergency to go fund. If you get more money in, more money goes out.
You get a pay raise, you start spending more money.Ā Thatās why when I was 25 I started a sacred savings account where I parked my money soĀ I couldnāt touch it.Ā How many old people have you heard about withĀ a million dollars they never even enjoyed?
They saved moneyĀ their whole life but they never went “all in” so their money could grow into ample wealth enough to really live life.
What you need to do is this —Ā you need to save to invest.Ā Start saving today.Ā Donāt be spending like youāre a baller. Save everything.Ā Once you have over $100,000 saved, then you can start looking to make an investment.
Donāt diversify. Put all your eggs in one basket and watch that basket.Ā If you can increase your income enough to start saving a substantial amount each month, and you have the discipline to do this with enough persistence to accumulate over $100K, then you will have earned the right to make an investment.
From there, if youāre smart, wealth is only a matter of time andĀ adding income streams.
Get on my Playbook and Iāll teach you everything you need to know to get you a million dollars, and one day you can be a straight up baller.Ā Pay the price today so you can pay any price tomorrow.Ā No pretender spenders allowed in my club.
For more business tips, check ourĀ entrepreneurshipĀ section and subscribe to ourĀ weekly newsletters.