Upgrade BMW Part II – Jerry Fetta
Yesterday I wrote about upgrading my BMW to my dream car. Click here to read about it. The essence of the article was about how I have been able to develop out of my scarcity mindset over the years. Today I want to share the financial logic behind my upgrade because ultimately, mindset without production is mysticism.
I’ve coined the phrase that we must be able to treat money like oxygen and like breathing, we must breathe strategically based on the activity we have set out to accomplish. Earn and spend freely with intention in other words. This is an exercise I learned from a course I took with my mentor, Grant Cardone. It has changed my life and I teach it to all of my clients. It is called the 1 to 5 game and it is a system to increase income, decrease waste, and reduce taxes. You will see results in the very first week!
- Rate your transactions on a weekly basis
- Rate them on a scale of 1-5
- 1’s are dumb and are returned immediately. The money from the return goes immediately into savings.
- 2’s are bad timing and are returned immediately. The money from the return goes immediately into savings.
- 3’s are a “maybe”. 3 means you’re being indecisive. 3’s are set on the back burner until the end of this activity so you can decide if they are a 1, 2, 4, or 5. You will come back to these and make a decision
- 4’s are necessary for survival. Survival means you are reinforcing your goals via your standard of living. Survival does not mean you are clawing by. It means you are living optimally.
- 5’s have potential to create income.
My BMW upgrade could have been a 1 or 2 but I made it a 5. When I purchased my BMW x6, which I have named Jumbo, it was so that I could generate more income. Here is why (I’ll tell you why I named it Jumbo as well).
- By leveling up into my dream vehicle I am invalidating scarcity mindset in myself. I have a rule that as soon as I feel fear surrounding a purchase, it is an indicator that I must do it now. This forces me to attack my problems and think bigger.
- Driving better car is a form of improving my environment and my positive experiences which enhances my energy and increases my production.
- Because my x6 weights over 6,000 pounds, it was purchased by my company, deducted as a business expense, and will be also written off as it depreciates over the next 7 years. Taxation is theft. BMW’s are better than being stolen from.
- The main purpose of this upgrade was to get attention and promote. Last weekend I watched the new movie about JP Barnum. What I learned from that movie is that I must promote more. There is a scene towards the end of the movie when Barnum rides an elephant to pick up his wife and children. Barnum realized the importance of promotion. When the movie ended, all I could think was “I don’t have an elephant”. The BMW x6 I’ve upgraded to is my elephant. I named it Jumbo because that was the name of Barnum’s controversial elephant. Promotion is a key to wealth!
Ultimately, wealth is like oxygen. You must be able to breathe freely and breathe with intention. If intend to sprint into wealth, it will require you to inhale and exhale massive amounts of oxygen at a very rapid pace without worrying about how much is coming in and how much is going out. This is one of the hardest behaviors to learn, but in my opinion it is one of the most fruitful.
I have sharpened this skill by using my own service, Wealth DynamX University, which includes a combination of goal setting, financial planning, coaching & accountability, daily education, and community with a network of big thinkers. These are the ingredients that cause wealth. If you’re interested in adding these ingredients to your life, you will build wealth faster than those around you and achieve things that you only imagined were dreams! Click here to achieve your dreams.
Own Your Potential,
Jerry Fetta believes everyone has the God-given right to own their potential. Most of us don’t because we spend 40 hours per week serving the 40 year to life sentence, trading our precious time for worthless paper called money.
We live on an economic planet and time and money do need to be exchanged. But it doesn’t need to be your time or your money. Jerry teaches his clients to secure income producing assets that make the time and money exchange for you so you can buy your freedom back and live a life of abundance and prosperity. To get there we must know how to make money, how to keep it, and how to multiply it.
Jerry provides coaching, education, accountability, and community to help you build wealth. Join the Wealth DynamX coaching program, get educated on Wealth DynamX University, and begin networking with the Wealth DynamX Mastermind Group today.
To get started, go to www.WealthDynamX.com/potential