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Nick and Martin from the Extraordinary Millionaire dive into the fundamental money concepts that separate those who build wealth from those who stay stuck earning a salary.
"Money's a dirty word, isn't it? It's horrible. People sneer at it. They think it's bad to want to make money."
Watch as they dismantle the toxic mindset around money and wealth creation that keeps most people trapped in the 9-to-5 grind. The first mental shift is understanding that making money ethically is not only acceptable but essential for creating the life you want.
Assets vs Liabilities - The Truth About Your Home:
"An asset is something that grows and puts money into your pocket. A liability is something that takes money out of your pocket."
Your own home? It's a liability. Even if it doubles in value over 10 years, the house you're moving into has also doubled. Unless you're consciously downsizing or moving to a less affluent area, you're just trading one liability for another.
Nick shares how he turned his first property into an asset by renting out rooms, retiring in his early 20s on passive income that covered his mortgage, bills, and living expenses. He bought that property in 2000 for £137,000 - it's now worth £450,000.
Earning vs Making Money:
"Earning money is where you have to put time in. It's exchanging your time for money, which is not a good way to become wealthy. Making money is having that money make money for you."
Good Debt vs Bad Debt:
Bad debt: Using a credit card to buy a new car (a liability)
Good debt: Investing in assets, education, or your business
The Property Wealth Strategy:
Why did Nick choose property? He researched the top 100 rich list and found 80-90% either made their money in property or invested heavily in it. Deal size matters - you can make £200,000 from one property deal instead of selling 2 million widgets at 50p profit each.
Nick shares a recent client case study: Paul and Andrea made over £2 million gross profit on one HMO conversion, pulled out their initial investment, and now generate £10,000/month passive income. One deal created financial freedom.
The Inflation Reality:
"If you have £100 under your mattress for 10 years with 2% inflation, it's now only worth 80% of what it was. You're losing money by saving cash every single day."
This is why investing in real assets (property, gold, commodities, antiques) is crucial. They inflate with the money supply whilst cash loses value.
Getting Started:
You don't need thousands or millions to start. You need to learn how to find money, create win-win relationships with investors, and build your credibility. Nick teaches all of this through consultation and coaching at theextraordinarymillionaire.com.
One of his builder clients wanted to quit and do property full time. Nick told him: "You're absolutely mad. Build your current business first, get it more passive with a manager, then diversify into property." The client is now thriving with an improved website, YouTube channel, and automated systems whilst building his property business concurrently.
The Ultimate Goal:
"What makes you an extraordinary millionaire is if you're happy. And that comes from having options, choice, and freedom."
Passive income isn't about doing nothing - it's about having the choice to do what you love and get paid for it.
Visit theextraordinarymillionaire.com for free resources, ebooks on finance and property strategies, coaching programmes, and the Rock Bottom Paradox book.
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