Completely Stupid Things Average People Do That Keep Them Broke
#2 — Live paycheck to paycheck while your investments create financial freedom.
Living out of a one-bedroom motel room with three kids is a hard life.
Especially when there are pr*stitutes in the next room servicing their clients while your daughters listen as they try to do homework.
That’s the life of my friend. He’s been broke for over a decade.
The thing is he’s bloody smart. He has some of the best business ideas I’ve ever heard. In his early 20s he executed on those ideas. They made him stupidly rich.
Then he lost it all.
His smoking habit got worse. His lungs became charcoal. His voice began to deteriorate so he got smoker’s voice. The energy leaked out of him, slowly.
I realized the other night what made him remain broke. He’s kept having new ideas and chasing get-rich-quick fantasies.
But he hasn’t executed on an idea for years.
I said to him “make one $20 sale. The evidence will snap your love affair with ideas in two.” Execute on one idea rather than have good ideas
Lack of execution is the first thing that keeps us broke.