The Simple Keys To Building Financial Freedom with Wallstreet Trapper
Leon’s approach to wealth creation
Stop trading time for money. What does that mean? While Leon’s experience may be very different from your own, almost everyone could do with learning this core lesson. So many of us are playing the game that was laid out before us — we don’t even think about changing the rules.
To start with, we have to shift our mindset. The time-equals-money formula actually goes against what many of us have been taught, either directly or indirectly. If you grew up watching your parents work themselves to the bone, you likely equate making money with exhaustion and having no time, but it doesn’t have to be that way.
Be proactive. Find ways to work smarter, not harder, and educate yourself about investments. Learn about passive income, develop a long-term plan, and have a diversified investment portfolio. Be creative.
“I [started using] the market as a savings account. … Because I knew that my money wasn’t making any money in a savings account. … So I started buying index funds. … [and treated them like my] savings account. And then I’d do individual stocks for my real investments. So if I can get eight to 10% on an index fund … that’s my savings account then.” – Leon Howard
If you don’t know where to start with investments, start with what you know. The more complicated things are, the more excuses you’ll make to avoid beginning.
“I always say … invest in what you understand. So if you wear Nikes … you should be looking at apparel brands. If you’re a workout person, then you should be looking at Planet Fitness. … If you use an iPhone, … be looking at Apple.” – Leon Howard
Shifting your mindset is also key to becoming an effective investor. Not only will it help you take small steps toward your goals, but it will also shift the way you view the products you’re consuming.
“Every time I buy a product, I [look] at who made it. … [I see if it’s a] public company [or] if it’s a private company. If it’s public, that means we can all invest in it. If I can invest in it, I want a piece of it. … Just to keep it simple. We don’t even have to make it hard.” – Leon Howard
As you can see, small habits are the key to success. Not only do they help you build your bigger goals one day at a time, but they also strengthen your mindset. Have the mindset of taking back control of your life. When it comes to money, shift how you view things and start seeing yourself as being an active player in your financial health instead of a passive consumer.
“Instead of consuming everything, start owning something … even if it’s one stock, one new next fund, a piece of real estate from a real estate investment — … you don’t have to buy a whole house. Know [that] you can spend $20 on a stock … and let that work for you.” – Leon Howard
Making a plan and sticking to it is key. Leon invests half of any income or money he gets. You don’t have to do what he does, but set up some habits like automatic savings that you don’t even have to think about. Taking decision-making out of the picture will make the process much smoother.
Creating Wealth That Other People Can’t Touch
I’m so incredibly on board with one of Leon’s big lessons — that of creating value. Wealth is much more than money. To create wealth that generates more and more wealth, focus on your value. This can mean so many different things.
Remember, Leon said that financial information is spread between people. That means those people — those who have the right connections, information, or skills — have value. Consider that relationships are like currency, and identify what type of currency they are.
“I always say that I use my money for three things — to [gain] information, access, and assets. … Information and access allow you to become the asset. … You become the asset, [you’re not just] investing in assets. … You are the most valuable asset.” – Leon Howard
So how do you become an asset? You do it by adding value. You do it through building relationships, cultivating skills, and gaining experience. You don’t have to be the smartest or most qualified person in the room. Your value could be the Spanish you learned by studying abroad, your gift for storytelling and persuasion, the kindness and warmth you share with everyone, or the connections you made at your last job. Write down all of the things that make you valuable and go over them regularly.
Your value could be how you engage with people. What effect do you have on people? Do you make them feel inspired and optimistic? Or do they feel drained around you? If you make them feel good, they are more likely to want to do business with you. We all like to think we’re so rational, but the fact is that emotion drives a lot of our decisions. We like to know that others care for us and will do things for us. Doesn’t it feel good when people give as much as they take?
“People need to learn how not to go into a situation [thinking] ‘How much money can I make?’ [and instead think] ‘How can I provide value to you? … What can I do to help you out? How can I be of assistance? How can I make your situation a little bit better? Or [how can I], based on what I know, become the asset.’” – Leon Howard
Invest in your education, your skills, and your experience. Invest in mentors and teachers who can teach you what they know. See yourself as the asset, which is different from seeing yourself as the best, smartest, or most important person in the room. Investing in your growth means you stop sitting around passively waiting for things to happen to you. It means you don’t get to make excuses anymore about why you can’t do something because you didn’t get those opportunities.
“No one can ever take that away from you. … So you use the money to put yourself in a situation to get information and buy access. [When you] can do those two things, you become the asset.” – Leon Howard
Remember, since information and resources are spread between people, we can’t do things alone. You need a strong team to make it in this world.
“If we can become assets in every situation, we’re in, that’s playing offense. … It’s [all] about leveraging this thing called life … because there [are] people out there making hundreds of millions of dollars. … They didn’t do that on their own. … They knew someone at some point that plugged them with somebody that put ’em in a room that put ’em on a phone call that helped them get that role.” – Leon Howard
Who’s playing on your team?
Why You Should Listen to This Leon Howard Podcast Episode Right Now…
Guys, this interview is jam-packed with so many words of wisdom from the incredible Leon Howard. Listen to the full episode for more, and don’t forget to share the episode with someone who needs to hear it: You could change someone’s life.
Follow Leon on social media (listed in the show notes below) and check out his investment courses at Trapper University.
I want to acknowledge Leon for transforming his life and being of service to people who struggle with finding these types of breakthroughs. It’s not easy to lift ourselves up from past conditioning, and he has shown how possible it is.
Friends, join me on Episode 1,209 to learn about building financial freedom no matter where you come from with Leon Howard! It’ll change your life!
To Greatness,
