Secret #34: Payoff Your House First

Marketing Secrets - Podcast Video (Russell Brunson - FunnelHackerTV)

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YouTube Transcript: English (auto-generated)

00:00
what’s up everybody’s russell brunson
00:01
welcome to late night in the wrestling
00:04
room edition and marketing seekers
00:06
podcast so the big question is this
00:09
power entrepreneurs like us you didn’t
00:12
cheat and take on venture capital for
00:14
spending money from our own pockets
00:16
probably mark it in a way that lets us
00:18
get our products and our services and
00:20
the things that you believe in out of
00:22
the world and yet still remain
00:24
profitable that is the question in this
00:27
podcast we’ll give you the answers my
00:30
name is russell brunson
00:31
and welcome to marketing secrets alright
00:38
alright everybody so I spent almost five
00:41
five or six hours today with the kids in
00:44
my little piece of heaven here cleaning
00:47
today so this is an external garage or a
00:50
house that I just had to turn to resting
00:52
rooms those who never seen it before
00:53
and it’s awesome about wrestling math I
00:55
got gladiator walls we got Bulgarian
00:57
bags over here we got paintings my
00:59
favorite wrestlers back here we’ve got
01:02
throwing dummies we got the girls stuff
01:04
here for the girls these are actually
01:06
the wrestling mats I used to wrestle on
01:08
in high school they were on my back deck
01:10
growing up so this little nostalgia for
01:12
you that’s cool and then yeah this is
01:15
the weight room side of it so this is
01:16
where we we do what we do and it’s it’s
01:19
awesome so as I was working today
01:22
yeah it was out like I said we’re out
01:24
kind of middle nowhere so there’s lots
01:25
of spiders ants bugs the stuffs always
01:26
bug choppers and stuff and so probably
01:29
three or four months I come and do a
01:29
deep clean write to you the vacuum out
01:31
and throw away all the dead spiders and
01:32
like wreak lean and like yeah it’s kind
01:34
of a nightmare but it’s really fun now
01:36
it’s clean like it’s so clean right now
01:38
I just I love it makes my workout so um
01:41
but anyway during all of this craziness
01:43
today of cleaning having fun like that I
01:46
was checking my phone couple times
01:47
throughout and I saw a post from Julia
01:50
Stone and I thought it was interesting
01:51
because she asked hey should I pay off
01:55
my house or should I pull the money out
01:56
and use that for other investments and
01:59
things like that and it’s funny because
02:00
I gave my answer it was like the exact
02:03
opposite of what I think a lot of people
02:05
thought I would I would think and I
02:07
think it’s good so I’m gonna give you my
02:09
advice right now because I know when I
02:12
was a little kid
02:13
my dad who’s an entrepreneur and has a
02:16
couple businesses and you know someone
02:17
who first got me all excited by this
02:19
whole thing he’s always told me he’s
02:21
like you’d pay off your house you’d pay
02:22
a fiancee I feel as quick as you can
02:24
and I remember cuz I was like okay
02:26
that’s good advice and then when I got
02:28
older I remember reading Rich Dad Poor
02:29
Dad and other like investment books and
02:31
like they always talking about a house
02:32
is a bad investment you know you know I
02:34
keep keep the money as low as possible
02:36
and then but I gives that to pay off you
02:39
know I keep your house just down the
02:40
minimum pay monthly payments and keep
02:42
that money and go and invest in other
02:44
things we can produce more money and
02:45
logically it makes sense right if I was
02:47
an investment dude teaching people
02:48
invest and I’d be like yes you should
02:50
not pay off your house should keep the
02:51
you know keep the payments or keep you
02:54
know keep the equity and there’s lowest
02:56
possible strip to cash out because you
02:57
can use that in other investment
02:58
vehicles so it makes sense as an
03:01
investor but I don’t consider myself an
03:06
investor now I am getting dabbling in
03:07
the crypto currencies Todd Dickerson my
03:09
partner cliff funnel says making insane
03:12
amounts of money so he’s showing me the
03:14
ways of the crypto world but I still
03:16
never convinced consider myself an
03:17
investor I consider myself an
03:18
entrepreneur and it’s funny because when
03:20
I first saw Audrey in those books I
03:22
started believing that start believing
03:23
that and then I talked to my dad as like
03:25
dad why don’t you pull your money out
03:26
cuz my dad’s like buys houses pays him
03:28
off in the cash flow buys houses pays
03:30
him off cash flow and then he did his
03:32
own house and I was like dad like what
03:33
are you thinking you’re crazy and I
03:35
remember like one night he just kept
03:37
homies like he’s like Russell you have
03:39
to understand there’s something there’s
03:41
something about knowing that your house
03:44
is paid off that knowing that like the
03:46
worst-case scenario that your house is
03:48
there it gives you the ability as an
03:50
entrepreneur to go on risk and that’s
03:53
like huh
03:55
and I don’t think I really got it like
03:57
you know I heard him I’m like you know
03:59
young son thinking he knows everything
04:01
and um don’t think I got it at first I
04:03
just like okay okay whatever and then
04:05
you know the next 10 next decade of my
04:08
life started happening after that and in
04:10
that decade I’ve seen some really big
04:12
ups and some like big downs and it’s
04:15
really bigger ups and some big downs and
04:17
right now I’m on an upcycled and there
04:19
may be a time when I go back down and
04:20
that sucks and scary and I have a lot of
04:22
fear and anxiety around that
04:24
just cuz I’ve cycled twice and I know
04:25
that feeling I know the fear I know the
04:27
all those things I have a constant he
04:29
part of reason what drives me so hard
04:30
people always ask like why don’t you
04:31
slow down dude you’re doing pretty well
04:33
on my backside the psyche internal fear
04:35
of like I remember what that was like to
04:37
cycle I’m trying to like protect myself
04:40
through the hustle or through I don’t
04:41
know whatever whatever that is and so I
04:44
think that’s a big driver force for me
04:46
but during this these cycles and luckily
04:50
we recovered from them but a couple
04:52
things I that I noted things got really
04:57
bad a couple times but same time like I
04:59
never I’m just probably wrong dude I
05:01
never told my wife a lot about what was
05:02
happening and she found out later
05:04
I actually if she was at last
05:05
phone-hacking live or I did the
05:06
presentation on all my maya failure
05:09
sushi I saw a few episodes back and he
05:12
and she was like what she said I didn’t
05:14
rise it was that bad like really tell
05:17
you supposed to be the man should be
05:19
like anyway and but like for her I knew
05:23
that like I had to have security so I
05:24
knew how much like we there’s an amount
05:26
of money every single month that she
05:27
would that she got that would like cover
05:30
the rent or another her house payments
05:32
are billed so by that I just knew like
05:33
as long as I can make at least that like
05:35
I was looking at risking and trying and
05:37
doing things long as the worst-case
05:39
scenario like my stability my foundation
05:42
was set and so on and so uh that was
05:46
that was it and like during those those
05:48
rocky scary times everything it was just
05:50
like I knew the worst-case scenario I
05:52
could always produce enough money that
05:53
she there like nothing at home was
05:56
affected so it gave me the ability to
05:57
risk him to roll the dice and to try
05:59
things and so for entrepreneurs I think
06:03
that sucking the cash at your house
06:05
investing in other places is the worst
06:06
advice ever because then you’re on this
06:09
unstable foundation sure you have more
06:11
money to invest and there you can make
06:12
more such things but it takes away your
06:14
ability to risk okay risk is what makes
06:17
an entrepreneur great right then we’ve
06:19
got the risk emitted jump off cliffs all
06:21
the time but risk is scary it’s like the
06:24
only way for us to be able to increase
06:26
the level of risk tolerance we have I
06:28
think is also the increase the stability
06:31
tolerance on the other side right like
06:33
paying off your house is smart because
06:35
worst case scenario of everything
06:37
all the crap hits the fan everything
06:38
falls apart if you’ve done that and
06:40
you’ve paid off your house worst case
06:42
scenario you you still have the
06:43
stability of a home for your wife and
06:45
your kids and your you know whatever and
06:47
that is like that’s the key that’s
06:50
that’s like that gives you the ability
06:52
now to go and do the crazier things yeah
06:56
like if anyway so that’s my advice for
06:59
all you guys pay off your house paid off
07:01
fast
07:01
pickups quick she can because as you do
07:04
that and as you as the stability the
07:07
anchor gets stronger and stronger and
07:09
stronger on this side your ability to
07:12
risk over here without the fear of
07:14
losing that usually bility to risk more
07:17
and be able to do what you need to do
07:19
because entrepreneurship is a lot of
07:21
like literally rolling the dice this
07:24
viral video we’re doing I keep telling
07:25
what I’m like you know typically my
07:26
investments in our business are very
07:28
strategic right we create funnel we
07:30
invest some money we get it converting
07:31
then we ramp it up really fast like I’m
07:33
not risking a ton like this is the
07:34
biggest one where it’s like to create
07:36
the video we had to write a five hundred
07:37
thousand dollar check like okay there
07:39
was a million dollars right put it all
07:40
in black and then you know at the launch
07:43
party and launch party between
07:44
everything we danced put another three
07:46
or four I mean it’s close to what I’ll
07:49
send it’ll be close to a million bucks
07:50
like all on black legs okay let’s go and
07:53
hopefully it’ll work right but the nice
07:56
thing is it like because of the
07:57
stability on other things we’ve set up
07:59
like I can take that risk and it’s okay
08:01
cuz if worst-case scenario it’ll be okay
08:04
you know the I’ve talked about some
08:07
other episodes the podcast you know the
08:09
thing that so often keeps on tumors from
08:12
success is the fear of the worst case
08:14
scenario you have to be able to look at
08:16
the worst case scenario they I’m okay
08:17
with that and if you are then you can
08:19
jump forward some timers we never look
08:21
at the worst-case scenario we’re just
08:22
always like we don’t want to we don’t
08:25
want look like what the thing that we’re
08:26
scared of right so we see the thing we
08:28
want I’m going forward but there’s this
08:30
nagging theme back your head just like
08:31
worst case Center what if I go bankrupt
08:32
what am I
08:33
my wife fleas and what if my kids think
08:35
I’m a bad dad like all these these fears
08:37
that are happening we try to ignore him
08:38
but because we’re normally there’s like
08:39
buzzing in our ear and our subconscious
08:41
mind so because of that they just keep
08:43
coming to he coming and I was telling
08:44
stories like if you want to be free and
08:46
might be able to risk you have to stop
08:48
you’ve looked back Doug
08:50
what’s the worst-case scenario back
08:51
there if everything goes to crap like
08:53
what happens and until you’re okay with
08:55
that it’s so hard to move forward it’s a
08:58
lot of us we have to stop his okay
08:59
what’s the worst-case scenario okay
09:01
I remember that the LA Times you know
09:03
I’ve had a couple times worst case
09:04
scenario was bankruptcy worst case
09:05
scenario was losing my house worst case
09:07
and those are man those are scary
09:10
now at the beginning all times that’s
09:12
you have to take that you have to have
09:13
the initial risk yet be okay at Calif I
09:14
if I lose my house it’s okay if I go
09:16
bankrupt it could be okay but as you get
09:19
as you start rolling up into bigger
09:21
opportunities bigger risk bigger things
09:22
like that
09:23
it’s nice look back taking a worst-case
09:25
scenario it was my money on this deal so
09:27
now my house - my wife’s got my kids I
09:29
got security gives you the risk big so
09:31
pee off your house there’s my advice it
09:33
goes against all the famous investing
09:36
dudes but I think they’re wrong and I
09:38
think most those guys aren’t
09:39
entrepreneurs like us so that’s what we
09:41
do we’re entrepreneurs we’re risking
09:42
making the world a better place and I’ve
09:45
mentioned this entrepreneurial skaars
09:47
podcast the episode a few a few back
09:50
about just like Bob’s Burgers don’t risk
09:52
the whole world comes to a screeching
09:54
halt like the government put in
09:55
bankruptcy and all these laws all these
09:56
things to protect us we can risk and so
09:59
that’s why it’s vitally important yeah
10:01
and it’s awesome so there you go here’s
10:04
the mirror what you guys are we’re all
10:06
talking together how cool is that look
10:08
if you listen even right I’m doing
10:10
before watching the video marketing
10:11
secrets calm Miss Lucy anyway alright
10:13
guys appreciate you all let me back in
10:15
put my kids to bed
10:16
it’s been fun day it looks clean shave
10:21
some workout surfaces people to bleed
10:22
out of our muscles really hurts
10:24
sometimes anyway
10:25
appreciate you guys pay off your house
10:27
give you the financial stability you
10:29
need to risk everything and change the
10:32
world so thanks everybody talk to you
10:33
soon would you like to see behind the
10:36
scenes of what we’re actually doing each
10:38
day to grow our company if so then go
10:40
subscribe to our free behind the scenes
10:42
reality TV show at www.funnelhacker.tv

The Marketing Secrets Blackbook - "99 Marketing Secrets That Will Change Your Business… And Change Your Life!"

:arrow_right: Get Your FREE Digital Copy Of The ‘Marketing Secrets Blackbook’ Now!

How We Took ClickFunnels From ZERO To Over $100,000,000 In Sales In Just 3 Short Years.

Get The First 257 Episodes Of Marketing In Your Car For FREE On This Pre-Loaded MP3 Player…

:arrow_right: YES! I Want The FREE Pre-Loaded MP3 Player

Hurry, these are almost sold out.

Want 6 Months of ClickFunnels™ Full Suite for FREE?! (Massive Discount)

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Includes: 6 Week Master Class, Traffic Hacks, Inception Secrets & Email Sequences.