Proverbs 22, . Verse 29 says Do you see a man skillful in his work ? He will stand before kings . He will not stand before obscure men . Fellow Marketplace Christians , stop apologizing and start winning . Welcome to the Success Edge , the show that helps you take your walk as a Marketplace Christian to the next level . Here's your host Christian entrepreneur Tyler McHart .
Speaker 2What's going on ? Kingdom Success listeners , tyler McHart coming at you , episode 405 . All right , so I'm actually getting ready to go and join a group of awesome godly men and work out together , so I don't have a whole lot of time . But before I jump into my things . Let's kind of pause real quick , guys , okay . So , father Jesus , holy Spirit , we worship you guys .
Speaker 3We worship you guys . We worship you . We just slow down right now , lord . We slow down . Thank you , lord . We focus on you , father , we adore you . We focus on you . Thank you , lord , thank you , we adore you , we focus on you . Thank you , lord , thank you , thank you , lord . We worship you , father , we honor you , we honor you . Thank you , lord . Thank you so much . We bless your name , bless your name .
Speaker 2Thank you , lord , in Jesus name Amen so I know I've been going through a series of financial freedom and kind of the story of my process of becoming financially free . Now I wanted to take a quick pause with that series and I just felt led to actually talk about this right here and I feel like it's going to be a good topic . I feel like it's going to be something that's going to help you guys . It helped me help kind of clarify some things , but this was many , many years ago and I'll admit that it's . It feels good . Let me just say this it really does feel good when you have been doing these things , or you learned these things a long time ago and you've been incorporating them in your life consistently that's's a key word consistently and you see the fruit of them . It's so important .
Speaker 2But let me read this I read this actually in Proverbs 21 , and it kind of spurred me on to want to do this episode today . So Proverbs 21 , verse 25 through 26 . To do this episode today ? So Proverbs 21 , verse 25 through 26 . So the desire of the lazy kills him for the , for his hands refuse to labor , he craves all day long and does not work , but the righteous willingly gives and does not withhold what he has .
Speaker 2Okay , so I'm reading a book right now by Myron Gold I think it's Goldman or Gold , Anyway , and the title of the book is basically From the Trash man to the Cash man and it's been a really good read . It gives a lot of things to think about , to do , to act on , for you know , with what you want to do with yourself and your life and how to create income and how to actually overcome any kind of poverty mindset , how to actually become an entrepreneur , how to , you know , look for and create and think through creating income-producing assets . It's just a really good book . Highly recommend it .
Speaker 2You've probably maybe seen him on YouTube possibly . He does a pretty good job of his content and he's got two channels actually out there . He's got one channel that is all about just business , pure business and kind of what he talks about in that podcast , but then he also has a second channel that is his Bible study , and one of the reasons why I like it and I'm actually promoting it to you guys , I like it and I'm actually promoting it to you guys is he talks about how to apply biblical principles in the marketplace , which I gang . I mean that's really one of the that's probably the one of the foundational , one of the hallmark things of this podcast , of why I do this podcast , is so that you guys can either go get resources that I find or that I hear about . Secondly , where I actually talk about biblical principles that I'm applying in my own life , in the marketplace and where you actually can go and apply them yourselves and even tell me stories about that , because , hey , I'm all about you know you guys telling me stories and you know I've had several of you guys always do that and I continue to encourage you to always reach out to me and message me . You can actually do that inside the app player that you have , whether it's Apple , Spotify , Google . I think I've got a send me a message link that you guys can take advantage of .
Speaker 2But anyway , he talks about in the book and I'm not going to go into in depth , but he talks about mindset of the rich and the mindset of the poor , and I want to read this opening statement that he makes actually in that chapter , which was kind of set up even more of what I want to talk about . So , rich people understand how money works . Poor people only understand how money to work for money . So let me say that again . Rich people understand how money works . Poor people only understand how to work for money . Let me get a quick sip of water and we'll jump into this , okay .
Speaker 3All right .
Speaker 2So there's some fundamental principles that make up the difference between how rich people think and how poor people think , and I want to give you just he lists out , I think about five , six , maybe seven things that he points out actually inside that chapter , but I'm just going to cover three of them . And so the first one is don't work for money , have money , work for you . So this is a concept that I learned in my early 20s . This was not taught to me by my parents , which I bless my parents , I appreciate them teaching me the value of a dollar bill and but you know my mom and dad , they weren't poor , by no stretch of the imagination , but they just didn't . They really didn't know how to teach these principles . Okay , which doesn't make them wrong , they were actually operating in these principles , but they just didn't know how to teach them to us kids . We probably had to either figure it out for ourselves or we had to observe them and kind of figure it out for ourselves . So don't work for money , have money work for you . Poor people just don't understand this . They actually go it out for ourselves . So don't work for money , have money work for you . You know , poor people just don't understand this . They work , actually go and work for money . You know you have .
Speaker 2You know I learned this right here that you know there's really two ways of creating income in this world . You can either go , and you know , trade your time for money , can either go and you know , trade your time for money , or you can have your money , go and make money . I kind of like to equate it to where your money actually goes and makes other little baby monies . Okay , that's , that's the side of the equation that you need to get on sooner than later . You know , one of the basic ways to do that is obviously , you know , if you've got a bank and you know the bank has got a money markets uh uh account , you know , that's that's . You know really . I mean , that might be the basic or most basic level . Or even putting your money in , say , a CD or some kind of interest-bearing account , because there your money . If you saved up money and you've got money in there and you don't like sit there and frivolously spend it , guess what ? That money is going to create other little baby monies . And that's this whole entire principle is being able to understand that . You know , once you start to accumulate money , once you start to accumulate money . This is very important . Once you start accumulating money , you don't just go and spend the money , you don't spend all the money .
Speaker 2Something I'm teaching my own children right now is the 10-10-10-70 principle . I used to teach 10-10-80 , which is still a great principle , just to get started , but 10-10-10 70 is probably a better route . You know , you give a minimum of 10% to the Lord , you put away 10% for a rainy day and then you actually take 10% and you go and invest it into something that is going to create other baby money right , a little baby's money . Like you know , right now I've got a business of my own which is an options trading business and inside that options trading business , you know I take my time or not my time , but I take my money and I , you know , create uh options in an options business and I either buy a put or buy a call , or , you know , create a credit spread or net uh put credit spread or uh call credit spread , whatever it is , and you know I let my money do work for me for about 30 days and it creates other little baby monies . Okay , and I really liked that a lot . I mean I'm , you know I like being able to see the increase of that . Usually I'm in , you know , receiving at least between you know , somewhere as between eight and sometimes 12% on the money that I have tied up for 30 days . That's not a bad return , okay . So think about it that way , guys , you've got to be able to create , you know , money . You don't work for money , you have money , work for you . All right . Now you might start out working money . You don't work for money , you have money work for you . All right . Now you might start out working for money , which is kind of sometimes where we all start . But you've got to start to move yourself over to that side of the equation of actually having money work for you all right . Number two don't entertain yourself . Educate yourself , man . This is this one right here .
Speaker 2I learned when I was again 20 years old , or 22 , 23 years old I remember , that my vehicle needed to turn into a university on wheels . So there and I say this that from from that time I realized that I needed to turn off the radio . You know , I think during that time , whenever I was living in Myrtle Beach , south Carolina , there was this radio station called I think it was called John Boy and Billy in the morning and you know I would be on my way to work , which was about a 25 , 20-minute drive on my way to my job , and I would obviously have that on , or I would have on you know , the Christian radio station at the time playing Christian music . You know saying , oh I'm , you know , worshiping Jesus and everything like that and so forth . But I was kind of just being entertained by the DJs on there because they would tell funny stories of you know people's cats or you know silly things that kids said , you know , and it was just entertainment , you know to me , you know to me .
Speaker 2Well , I , whenever I got around wealthy people or people that had , you know , wealth , you know they talked about how they would educate themselves . They talked about how that , you know , they took their vehicle and made sure that they had something going on where they were learning something . Now , now I took that to heart and I began to convert my vehicle as a university on wheels . That was one of the things I did and it became a powerful asset to me .
Speaker 2And you know , now that YouTube is such a easy format , by the way , I'm actually exploring , actually making sure that I have my podcast , actually as a video podcast as well , so more of that probably to come , but here again , like right now , I'm actually learning about .
Speaker 2I'll just go ahead and tell you what I'm learning about . I'm learning about how to set up an Etsy store . I'm sitting there going you know why ? Haven't I thought about this before ? I just didn't know about this , and so I'm educating myself on how to do this myself , on how to do this , and again , I you know , instead of me just sitting there learning about the stats or what the college football rankings say and what the analysts are saying about this team and that team , and comparing all these different things that are going on , right now I I might do a little bit of that , but majority of my time , unless I'm with my family , I'm trying to educate myself on how to do certain things my current new opportunity that I've just gotten of becoming actually a wealth strategist a wealth strategist of helping families and actually business owners and real estate people investors be able to create their own bank and have a family bank and be able to take advantage of this infinite banking concept .
Speaker 2You know , I've just got my life insurance license and so I've been learning how to offer that and teach that to people right now , which is a powerful thing . So , again , don't , it's not a not a bad thing to entertain yourself . I'm not saying don't do that , I'm saying don't do it . You know as much . Educate yourself . And the last one that I think you know probably is the most important one for me , is choose your advisors wisely . Choose your advisors wisely . So this third , third aspect right here is probably served me very , very well . You know , you don't know what you don't know , and the Lord places people in your path for you to actually take advantage of and I don't say advantage , I'm talking about in a good , godly way of taking advantage of somebody , of actually gleaning from their wisdom and understanding .
Speaker 2I sat down with a gentleman just the other day having lunch with him . He's I think he's probably close to you know almost 70 years old . He's had multiple businesses . He's succeeded in businesses . He's failed in businesses . He shared with me multiple stories . He talked about how the Lord's helped him out on certain things and I was gaining a ton of wisdom from this gentleman and you know he is .
You know there's certain areas of the life that I don't want to replicate , so I'm not going to maybe take advice from him from that , but at the same time I can definitely learn from him from a business standpoint and kind of understand what he did , what he didn't do , why he did certain things a certain way , and I can learn from that . So I guess what I want to get life where you want to be , or start taking advice from people that are making more money than you and understand them , understand what they're teaching , understand how they're teaching things . These are just basic core tenants to our actual you know what successful people do and rich people do versus what poor people and unsuccessful people do or lazy people . That's why I read the whole entire verse in the beginning . So those are just the three principles I just wanted to cover right there .
Speaker 2Guys , I'm telling you , if you take just these three principles and just apply them , you are going to become wealthy . You cannot help but become wealthy , and when I say wealthy it means more than money . You're going to become wealthy in the sense of your marriage . You're going to become wealthy in the sense of raising your kids . You're going to become wealthy in the sense of relating to other people and how to work with other people . You're going to become wealthy , you know , financially , it's all there , guys , there's an abundance . I mean YouTube's for free , the libraries are free , the books in the library are free , the libraries are free , the books in the library are free . I'm telling you , there's no excuse , no excuse not to be wealthy in our , especially in the United States of America , especially with you know what's getting ready to happen in the next four years .
Speaker 2So , kingdom success . Know that you're blessed , you're highly favored , you're empowered to prosper , you walk in divine health . The spirit of breakthrough is upon you . Guys and gang , we'll catch you on the other side .