How the Rich Avoid Paying Taxes and You Can Too BNF

When last we spoke on the subject, we identified the top 8 reasons why people are poor, and how these things perpetuate themselves. It can literally be a death spiral. Today… there’s hope! There’s good news! We’re going to talk about how I broke out of this neighborhood! MUSIC: If I Were a Rich Man…all day long night bitty bitty bum…if I were a wealthy man.
I wouldn’t have to work hard. Yeah, a did a dittle dittle dittle dum. ERNIE: So we are here at the Akron Bible Church in the heart of South Akron. As Pastor Baker would say, “It all goes down on South and Brown!”, and that is where we are to talk about it today. I’m here because man, I’m just so proud of what Reverend Baker and the ABC Church of done in my old neighborhood to help people to break out of so many chains, to overcome so many obstacles. I’m so proud of it. Let’s talk about it. First a quick recap
of the top 8 reasons why people are poor. Number 1… They have children before they’re ready. Number 2… Alcohol and drug addiction. Number 3… Smoking. Bad credit… Gambling, lottery. Number 6… Lack of Education. Number 7… Criminal background or God forbid… poor health! They say that money makes money, and more money makes more money, and it’s a cycle, right? The debt cycle works exactly
in the same way, but in reverse. The deeper you dig yourself into a hole… the deeper that hole is going to get… and so on and so on… and it’s hard to get out… and it’s easy to do. Consider a healthy young man that comes out of high school in this neighborhood. He gets a job… it’s probably not going to pay much, right? And he’s likely to live paycheck to paycheck, waiting for Friday every single week so you can go spend all his money, right? I mean, it’s the American way. We’re super consumers. We spent every dollar we have as if it will never rain…
but it always does! Let’s consider some of the things that can trip this young man up. What a happens when the car breaks down? What happens if he gets sick and has to have an emergency surgery? What happens if he gets a DUI, for God’s sake? What happens if he doesn’t pay his car insurance and is in his license gets suspended? What happens if his roommate moves out on him and he’s tied to a lease that he can’t pay? All these things will bring him down… will topple him… and start
the death spiral of bad credit. What’d grandma always tell you? You gotta save for a rainy day, right? Save for a rainy day. Americans think it’s never going to rain. It’s always gonna rain! You’ve got to live below your means to break the cycle, to break out right? You gotta save a little bit of money. All right, here’s how I did it. So I’m 27 years old, right? Living paycheck to paycheck. I’m living in an apartment… pretty nice spot… just a two bedroom apartment. I got two roommates… and they’re charging us
$500 a month, plus utilities. It’s a nice place…we got a swimming pool. Here’s the really uncool part. End of the Year, we’re down $6000 and they say, you know what? We’re not going to renew your lease. We really don’t want you here anymore. I said, all right, I can live with that. Tell you what… give me month-to-month lease, for 3 months… at the end of the 3 months… I’ll be out of here. They said, Bet… and don’t let the door hit you in the butt, right? So I put together in my plan,
Which I’m now calling THE POWER OF ONE plan. My plan to break out and stop this foolish paycheck-to-paycheck spending, right? Step 1… I needed to find a way to make more money, with the time that I was spending working, right? Now I didn’t have a lot of time because I was in college, but I needed to make more dollars per hour for those hours I was given. I figured the best way and the easiest way to do it, would be to start a Service Company… where I didn’t have to buy a bunch of equipment or anything.
Now the problem with that was, I didn’t know how to do anything. Well almost nothing. I knew how to hold a paintbrush and I can slop it on a house. So a knocked on the neighbor’s door and I said, ” Listen, I will paint your house for $500.” He said, “Great! Let’s do it!” Me and Scotty, our beloved producer… me and Scotty went out there… we knocked it out in a couple days. At the end of those two days we figured, Hey man, shoot, instead of making $5 an hour… We just made $25 an hour!
Bang! That was the answer. We needed a cash-flow generator, we had found it. And so we expanded… more door knocking… even took an ad out. Step 2…Cut out the stuff that you don’t need. You don’t need to go out and eat. So that’s the first thing I cut… and if I did eat a chicken burrito from Taco Bell, which will became a very important 99 cent piece of my daily diet… I got the water, not the soda. The soda was more expensive than the than the burrito! Cut out the soda! Then I
cut out all new clothes. Man, I could go to the Goodwill and buy some paint shorts for 50 cents! Cut everything out that looked like fluff or smelled like fluff. So I’m making a little bit more money and I’m cutting out the fluff… What happened? By the end of that summer, I had saved $5,000. Now what can you do with $5,000? Well, you can buy a house… on land contract… and that’s what I did! This is my house. Actually, it’s not that one… it’s this one. They just tore it down!
It was such a dump! But at the time, I got the guy to sell it to me for $13,000 with $2,000 down. BAM… I gave him the $2000 down. With my other than $3000… I went in…me and Scotty fixed it up! Now here’s the beautiful part… at the end of that fix up… All three of us are living in that place. Plus we added another roommate, and it’s not $500 a month. It’s $225 a month! $225,a month? Man I got everybody paying. I’m not only living
for free… they’re buying my groceries! All because I had this super low payment. THE POWER OF ONE. So what happened? To make things even better, at the end of that year of living for free… of course I saved some money along the way… Mind you… I wasn’t making any money. I was only making $10,000 a year, I think, but I was saving half of it, right? That’s the important part. So I saved $5000 at the end of year 1… and then we sold that house. Scotty got him a little money, and I end up making $12,000. Just enough
to buy another house. This one was free and clear. Can you do this? Of course you can! We’re going to show you how, absolutely no questions asked! Folks, if you like this one, hit the LIKE button, spread the gospel. There is a better way. We’re giving it away for free. Free video lessons, please subscribe to my YouTube channel and get the free book. It talks about the POWER OF ONE. And how you can buy just one house. How that house can change your life forever. Till we see you again. Good luck. God bless ya.
May all your parents have Rich children!