Dr. Joe Vitale joins Jason Hartman in this Flashback Friday episode to talk about his book, Attract Money Now. He shares that once you learn to get clean with money and stop self-sabotaging your financial future, you start to attract more money. They also talk about fact and belief, the psychology around prosperous purchasing, and how to think like an entrepreneur. Lastly, he discusses giving back a portion of your good fortune to create a bond of trust in the universe.
Announcer 0:00
Welcome to this week’s edition of Flashback Friday, your opportunity to get some good review by listening to episodes from the past that Jason has handpicked to help you today in the present, and propel you into the future. Enjoy.
Announcer 0:16
Welcome to the creating wealth show with Jason Hartman. You’re about to learn a new slant on investing some exciting techniques and fresh new approaches to the world’s most historically proven asset class that will enable you to create more wealth and freedom than you ever thought possible. Jason is a genuine self made multi millionaire who’s actually been there and done it. He’s a successful investor, lender, developer and entrepreneur who’s owned properties in 11 states had hundreds of tenants and been involved in 1000s of real estate transactions. This program will help you follow in Jason’s footsteps on the road to your financial independence day, you really can do it on Now, here’s your host, Jason Hartman with the complete solution for real estate investors.
Jason Hartman 1:06
Welcome to the creating wealth show, this is your host, Jason Hartman. And we are at episode number 550. another milestone 550. And today, our guests because it is a 10th show will be Joe Vitale, you’ve definitely heard that name. He was in the secret. He’s a law of attraction guy. But you know, we really kind of drill down a little bit on this idea that, you know, you can just think good thoughts, and the world will beat a path to your door, which is just silly and immature. But there’s more to it. So I’m gonna ask them the kind of tough question that some of these sort of law of attraction people don’t want to face? And he has a good answer for it, too. So I think you’ll really enjoy this 10th episode interview. Of course, 10th episodes are where we go off topic, we discuss something of general interest, not just real estate investing. But speaking of real estate investing, gosh, we’ve got so many good properties. Now. You know, inventory is always fluctuating. And well, I don’t want to say we have so many good properties, because inventory isn’t as good as we would like it to be. But you know, the properties are pretty good. And since I was just in Chicago, and Grand Rapids, and then Detroit, I thought I would talk to you about a nice Chicago property. Of course, when I say when I name a market, I mean, you understand this is regular listeners when I name a market, I’m talking about the overall metro area, not specifically, Chicago, in the city, you get that right. When I talk about any market, that is the case. So I’m talking about Atlanta, that doesn’t mean it’s in Atlanta proper, it just means it’s in the metro area. So this one is I mean, I am looking at a picture of this gorgeous, suburban, uh, you know, I want to say almost stately little, really nice house. I mean, this house is just a just a super cute home. And it was basically redeveloped this year 2015, it’s four bedroom, two baths. It’s already rented. So check this out. Okay, you know, one of the concerns about this market is the taxes are high. So you tell me, if this like corporations, you know, the people on the left are always talking about, oh, corporate welfare, we got to tax those evil corporations more and in Listen, you know, I take a kind of a middle ground on a lot of that, as you know, from listening, coming on prior episodes, but you know, when the property taxes are higher, these all these rental properties just become a pass through entity. And they you pass those rents right through to your tenants. So we often talk about the 1% Rv ratio, as a good metric a good goal to achieve.
Well take a look at this property. 16 140 square feet $130,000. It’ll take about 35,000 to get into it, assuming you’re, you know, subject to qualifying at 25% down, but it’s rented it this is not speculation, it’s already rented for 15 $150 per month, well over the 1% Rv ratio metric. After the expenses, insurance taxes, you know, which are higher I mean, the taxes on this property are 390 bucks a month. Okay. I’m looking at the performance by the way on Jason hartman.com and the property section. And you can find this property in there. Just look for the property in the Chicago area for 130,000 and you’ll see it this is a gorgeous house with a two car garage. I mean, just beautiful suburban neighborhood. Fantastic. Okay. And your cash flow is projected at $345 per month or for over 40 $100 per year. All right, so let’s look at some of the financial indicators on this property when we’re looking at this projection, let’s, let’s check out the indicators. Okay. And again, this property is already rented. So the debt coverage ratio based on your 25% down is 1.68%. That is fantastic. And again, the DCR, the debt coverage ratio is the metric of what are the chances I could get into trouble with this property with owning it as an investor, if it was a one as a debt coverage ratio, that would mean it’s a breakeven. In other words, very little margin for things to go wrong. Now, we always include an 8% vacancy rate in our performance. So there is a one month per year vacancy in here. But 1.68%, I mean, that’s fantastic. The cash on cash return, projected at 12% annually. So if you do any hard money lending through our network, and we do have those opportunities, they’re, you know, they’re a little bit scarce, admittedly, you know, it’s kind of a little challenging to keep your money in play, I’d say that’s the hard thing about hard money lending, keeping your money in play. But if you do hard money lending, and you can get 12% nowadays, that’s of course, gotten a little more competitive for the lender when I say competitive, so rates are being compressed a bit. So if you get 12%, doing hard money, loans, you’re doing great. I mean, that’s a fantastic interest rate, usually you’re going to be, you know, you’re going to get maybe a little bit less than that. But you know, it’s a deal by deal basis.
So the cash on cash return here of actually owning the asset, owning the property. And again, you know, we’ve got in Chicago, we’ve got like a phenomenal system, I’d say, same is true in some of our other markets, where we’ve got some very good teams, very good management, and you know, just a very helpful system to make these, these investments as passive as they can be. Again, you know, I don’t believe anything is truly passive, nothing at all, not even the bank. And I’ve explained that before on prior episodes. So you’ve heard me talk about that. I won’t belabor that point. But the overall return on investment on this property projected at 38% annually, because income property is a multi dimensional asset class. So it’s projected at 38% annually, when you factor in all of the multi dimensional aspects. So again, beautiful property, completely rehabbed. In fact, they like to use the word redeveloped. Because their rehab is so extensive $130,000 renting, already rented for 1550 per month, giving you a cash on cash return of 12% annually, and an overall return of 38% annually. And again, you can find all these projections at Jason hartman.com. In the Properties section, you can just go and you can see that exact house. In fact, just for an exercise, go and look at the picture of that house, just find the $130,000 property for sale, Chicago metro area, and you will be amazed. That’s right over Jason hartman.com. Let’s get to our guests, Joe Vitale. You’ve heard his name so many places. He’s been around a long time, puts out some great material. Let’s talk about the real life version of the law of attraction, not the hype, the real stuff where the rubber meets the road. So we’re gonna dive into that with Joe. And here he is.
It’s my pleasure to welcome Dr. Joe Vitale to the show. I’m sure you’ve heard his name because he has way too many best selling books to mention here. I’ll let him share some of the titles with you. But you know, a couple are the Attractor Factor, life’s missing instruction manual, the key faith, attract money now and just hold by I think he’s got like 50 bucks. It’s crazy. Okay. But Joe has been featured in several movies, including the blockbuster the secret. We’ve all heard of the secret of course, he’s been on Larry King Live. Donny Deutsch has the big idea. CNN, CNBC, CBS, ABC, Fox News, Fox and Friends and extra TV and he’s been featured in The New York Times and news week, and it’s just great to have him here today. We’re going to You know, his work is pretty broad. So he’s got a lot of stuff. But we’re gonna make this the focus of our talk today, although we’ll probably wander around a little bit. We’re going to talk about finances. We’re going to talk about money, and using the law of attraction, and the other techniques that Joe teaches, as we dive into mostly the realm of money and financial success. Joe, welcome. How are you?
Joe Vitale 10:23
I’m doing great. I’ve been looking forward to this one an honor. And what a treat. Thank you, Jason.
Jason Hartman 10:27
It’s great to have you here. So tell us what you’re kind of mostly working on lately. Like I said, in the intro, your your bio is just too big to share. You know, what’s your latest book, for example?
Joe Vitale 10:38
Well, I have two or three that are considered the latest. The most recent is a book called The Secret prayer. And it’s a three step formula for attracting miracles in your life that’s already shot up the bestseller list. So I’m very proud of the secret prayer. But it also released hypnotic marketing, which is my Definitive Guide to the four step process that I created to help people market their products or services primarily online. And that’s been a best selling ebook for many, many, geez, almost two decades. But it’s now out there in paperback on Amazon. And I also released the third volume of the miracles manual. And that’s a collection of questions and answers that people ask me in my miracles coaching program. And so that’s also out there. I’m always, you know, blown and going and creating new products and new books. And I’m also a musician now I have 15 albums out, can
Jason Hartman 11:30
you believe it? Wow, wow, that’s amazing. And you have another guy in your band who happens to have your exact same name. And in the music business, he
Joe Vitale 11:38
is legendary. The other Joe Vitale, he is a drummer. He’s played for every rock and roll band since the 1970s, primarily with Joe Walsh. But every other rocker you can name he’s been with us, and he’s in the Rock and Roll Hall of Fame. And I am so honored, so grateful, so inspired to say he is my friend, and he is my drummer and on all of my singer songwriter albums, that’s fantastic.
Jason Hartman 12:03
Joe Vitale, he and Joe vitality
Joe Vitale 12:06
stanback worlds world.
Jason Hartman 12:08
What a crazy coincidence. That’s, that’s awesome. Well, Joe, dive into the subject of money, and and why why is this a challenge for people? You know, one of the things I’ve been saying lately on my shows is, is just I remember when I was in Peru last year, with one of my mastermind groups. And, you know, we checked into one of the hotels, we were just in this hotel for one night, and I just couldn’t believe how nice this hotel was. And, you know, some of the opportunities to just travel around the world and do things and see things and experience things. You know, I just say to people just take care of this money thing, you got to just take care of it, get it out of the way. So it’s off your list, if you will, you know, so that you’ve got the financial resources to do things to as you talk about, you know, you’re sculpting your own David, right. That’s, that’s our job in life is to create ourselves. And you know, the financial resources are part of that they’re important, aren’t they?
Joe Vitale 13:06
Absolutely. And I totally agree with you. And I do want to enjoy life and what’s out there for us to have and share and make a difference in other people’s lives as well as my own. Having been homeless at one point. And having been in poverty for a very long time, I much prefer the lifestyle of the rich and famous. And I much prefer having choice. But here’s what when it comes down to and I practice more of a tough love approach to life. And we don’t have all that much time together. So I just tell people, look, there’s only two reasons why you don’t allow money into your life. And you’re not creating wealth, because the information is out there, the How to is out there. There’s plenty of people that are offering you the means to do this and the opportunities to capitalize on this. But the two things going on is one is we have a very bad attitude towards money. That’s the first thing. And the second one is we have a bad attitude towards ourselves. Meaning that our self image or self worth is pretty much low for every single person, they really have a difficulty in allowing good to come into their lives. Now, they may argue with that. But where I come from is we have to look at the unconscious beliefs that are operating in people. For example, I can state a line and everybody is going to finish it on their own. Money is the root of all and everybody just said evil. Stop. So stop and think about this. If you’re trying to attract money, you’re trying to create wealth, you’re trying to do all the right things and you have all these high intentions for your wealth, but you think it’s bad for you, you are subconsciously going to sabotage your own efforts. So the first thing we have to do is get clean with money. We have to realize money in and of itself is neutral. We’re the ones projecting all the meaning onto it all the symbolism onto it all the emotion onto it. We have to understand that those statements like money is the root of all evil are actually from a longer statement, which is a biblical phrase, which means it’s pretty much anchored in our unconscious, that the love of money is the root of all evil. And I’ve dug into this even deeper, wrote a whole book on it called attract money now, where I blow the whistle and say, Look, all the wealthy people I know aren’t in love with money. They’re in love with freedom, they’re in love with choice, they’re passionate about their lives, and they use money to achieve their ends, when you realize that money in and of itself is as neutral as can be, and that you can leverage it to do good in the world, and you can be a steward for it, to direct it to your family, to friends to causes you believe in, then you’re free to have all the other techniques out there and creating wealth work for you. But that’s the first hurdle for most people. And some people just hearing this are going to go ahead and relax and allow money into their lives when they realize money is good. Money is wonderful money is useful. That’s the first thing to handle. Jason
Jason Hartman 16:07
okay. So you’re in the secret. Of course, the secret has been incredibly successful. And the criticism of the secret, I’m sure there are others, but one of them is that you can’t just sit around and think and, you know, employ the law of attraction and have everything magically beat a path to your door, right? You got to do something or, you know, what would you say? I’m sure you’ve heard these criticisms over the years. I mean, you know, the rest is great. But But you know, I’m talking about being a little critical of it.
Joe Vitale 16:38
Absolutely. Jason, I, I agree with you, I totally agree with you. I’m like, I’m one of the critics. I’m one of the critics who say the secret is a wonderful movie. But it’s an introduction to an idea. It’s not the graduate course, all it did was teach you a little bit about how the mind works. And what you tend to focus on is what you tend to attract in your life. That’s a basic law of attraction. But it didn’t talk enough about action. I happen to be in the movie talking about taking action. And interesting enough, a lot of people fog out during that segment. And when they watch the whole movie, they end up saying things like, Well, that was the feel good movie. And all you have to do is sit and meditate and visualize and answer the door or answer the phone, and there’s what you were desiring, it might work like that. But in my experience, the only way that I have 50 books written and 15 albums done, and all kinds of courses and DVDs and everything else is I am a massive take action guy. I am definitely using the law of attraction, I definitely set intentions, visualize what I want, feel it coming into my life, but I also do something about it. That’s the missing ingredient, the missing link with all the people who are saying, Oh, I tried the law of attraction and it didn’t work, I tried to attract money and it didn’t work. That’s all bull, you didn’t do all that you needed to do, you didn’t take what I call inspired action, you didn’t follow up on whatever ideas were coming to you or opportunities that are coming to you. The rest of the picture does include taking action as part of the formula. And as you take action, you get feedback, as you get the feedback, you take other action, throughout it all as a kind of an umbrella is your intention on what you want, whether it’s creating wealth or anything else attracting the romance, perfect job, house, car, spirituality, whatever you want. That’s all there. But you can’t just sit sitting, meditating, visualizing is an action. It’s not all the actions, and it’s not all the actions that will take you where you want to go. So we have to get off our butts, we have to do something.
Jason Hartman 18:42
And you know, that seems to be and I’m gonna just say it. You know, one of the things that goes on in sort of the New Age community, right, is you’ve got people kind of sitting around meditating, and they’re just not taken action. Right. So it’s a form of self
Joe Vitale 18:57
sabotage. Yeah,
Jason Hartman 18:58
there’s, there’s a blend of these right? There’s a balance. Stephen Covey, in his very well known books, it was he talked about the Seven Habits of Highly Effective People. He talked about the P and PC balance, you’ve got production and production capacity. So maybe the law of attraction in the thoughts and the meditating about it. That’s the production capacity, but the production part is going out and doing something, you know, you’ve got the right mindset, that’s great. So when the money comes, you won’t self sabotage it. That’s one of the things that law of attraction will do. Right, is help us manage and deal with the success. And I mean, you know, maybe it is that right angle on it, or what were your thoughts about that?
Joe Vitale 19:40
Well, I I come from the position that we live in a belief driven universe, and that everything we’re getting in our lives is due to our beliefs, but not our conscious beliefs. That’s another problem with the law of attraction. When people watch the movie, The Secret or just read a little bit superficially around the law of attraction. They don’t realize that the law of attraction is working on your unconscious, your subconscious beliefs, not your conscious ones. That’s why you can sit there and go, Oh, I’m attracting money. Today I’m attracting perfect romance today, I feel great. That’s all wonderful. But unconsciously if you think money is bad or evil, or you think you don’t deserve the perfect relationship, or you don’t deserve wealth, you will sabotage yourself and you won’t even know it. You’ll blame other people, you’ll blame the economy, you blame the author, the movie, the teachers, you blame the terrorist, the weather, you’ll come up with something we want to wake up is what we need to do, Jason, we need to wake up to how our mind works. The law of attraction is pointing in the right direction, in the sense that it’s giving us some power that most people didn’t realize they had. Most people walk through life as a victim, and they just kind of react to circumstances that bounce around from one thing to another, not realizing they can take a breath, they can relax, and they can set an intention to attract Well, once they set that intention to attract Well, now they have to be aware of what comes up in their mind, do they feel like there’s any counter beliefs, any counter intentions, along the lines of Oh, this is going to work for everybody else, but it’s not going to work for me. Those are beliefs that we want to analyze, we want to dismiss we want to be raised, we want to get them out of our head, the more we can do that, the easier it is to take action to many people aren’t taking action not so much because they believe that a miracle is going to come to their door come to their phone or come in the mail. But because they believe that they don’t have to do any more. And they’ve convinced themselves of that. And it’s not true. that’s a that’s a form of self sabotage. We want to be aware of our, our mindset, our programming, so we can have do and be whatever we want. Very good points. Very
Jason Hartman 21:56
good points. So as we talk about this stuff, are there any mechanics any, you know, real specifics, you want to share as to how we do this? You know, like, exactly. What does somebody listening to this do tonight when they go to bed tomorrow morning when they wake up?
Joe Vitale 22:13
Yeah, great question. Well, the very first thing is going to sound self serving, but I’m giving this away, I wrote a book called attract money. Now it’s free, all your listeners can have it, just go to WWW dot attract money now.com and get it. Now I can’t read it for you. And I can’t implement it for you. But there’s seven steps in there that I’ve refined, polished and tested over the last couple decades. They took me out of homelessness, they took me out of poverty, and they shot me into fame and fortune. Anybody who applies these seven steps has got to get out of the rut, they’re going to wake up. So the very first thing to to know is that there’s more resources, here’s one go get attract money now. Now, in those seven steps, the very first one talks about your mindset. And we’ve already talked a little bit about that. But I talk at length in there about how you feel about money. And it’s really important to be friend money to realize that if you care about yourself, your family, your friends, if there’s causes or movements or organizations you’d really like to support. You can do it when you’re wealthy. So you want to be clean with money.
Jason Hartman 23:20
Let me ask you a question before you move on, Joe. Because I think some people might be listening, including yours truly. Now, I’ve I’ve achieved a really, I think a good Very level good level of financial success. But you know, of course, there’s more I want to do. Like hopefully everybody in you know, I can’t imagine that I’m not wanting money. Is there something in me? Where you know, maybe a deal doesn’t go right or something where I’m actually repelling money? Like, I think people listening to this might be saying, of course I want money. You kidding me? Joe? Come on?
Joe Vitale 23:53
Yes. Well, here’s the way to find out if your claim with money. Do you have it? Do you have it at the level that you want it? Because if you don’t have it, you don’t have it at the level that you want it you most likely have some beliefs about deservingness and about money itself. So we want to stop and just get really blunt and look in the mirror and ask ourselves, do I have the level of wealth that I’ve been longing for in my life? For most people are going to say absolutely not. They’re gonna say no, I’ve got much like you just said you’ve already doing really well. But you’ve got bigger dreams that you want to go for. So we want to look deeper. We want to really look in a ruthless way. And I’m using the word ruthless intentionally. Because we don’t want to be just honest with ourselves. We have to be ruthlessly honest with ourselves and ask ourselves what might I believe that would keep more wealth coming from me? And then whatever comes up for you, except that you can even write it down. There’s going to be different answers like I all the money’s taken there. isn’t enough to go around. We’re in a bad economy. We’re in a recession, depression, economic slump, all of that might come up. And we’ve got a look at those answers. Because even that one is not true. We’ve got to realize what’s the difference between a fact and a belief, if a fact is something that we can all agree on, and we can all measure and science can go and say, Yep, it’s exactly 12 inches long, or it’s exactly $5,000. Or it’s measurable in some countable way. It’s probably a fact. But if it’s something like, well, it’s due to the economy, that’s a belief, we can’t prove it, we can all agree on it, and we can find exceptions to it, we can look around and we can find young teenagers that are becoming multimillionaires by coming up with a wild idea implementing it, and it happens to be the right time, the right place, and it catches fire, and they have more money than they know what to do with. So there’s exceptions to that idea that it’s due to the economy or due to the president or to the political system. All of those are beliefs. So whenever we look in the mirror, and we say, Why don’t I have the level of wealth that I would love to have right now, whatever comes up, we didn’t want to pay attention to whatever comes up in our mind and honor it, write it down and then look at it. Is it a fact? Or is it a belief? The fact is, there are trillions, trillions, not millions, or billions, trillions of dollars circulating right now. And I said, circulating, I don’t mean that they’re stuffed in people’s mattresses or locked in a bank account. These are circulating. So there’s no reason why you I or anybody listening can’t dip into that. Well, the only thing stopping us from seeing the opportunities, our own blinders, the blinders, that when we look out through life, we’re looking not so much through our eyes. But through the filters of beliefs that are over our eyes, we’re looking at reality and seeing our version of it, we’re not seeing the reality that’s available to Donald Trump, or Richard Branson are some of the other names you might mention. What we’re seeing is reality based on our belief system, our mindset, our paradigm, our past experiences, what we believe is possible, we want to shake that loose, you shake it loose by listening to podcasts, like this one, by reading books, like attract money now by exploring your own beliefs, either with yourself or with a coach. But the more you can break free of the inner limitations, the more the outer abundance will show up. Yeah, absolutely. Okay. So you were talking about those mechanical steps, and I got you off on this tangent, I just want to make sure we cover those right. All of this is part of the the pie here what we want to enjoy this. The seven steps in the book attract money now are are long and lengthy, but easy to implement it once you understand them. But let me look at one other one, there’s something called prosperous purchasing. It’s a step in attract money now prosperous purchasing. So what’s that? What it means is when you have the desire for a product or service, and you have the money to get it, you must get it, you must buy it now. Why? Because there’s a psychology around money, there’s a psychology around self worth, if you’ve got the money in front of you, and you have the desire for this product or service in front of you and you don’t buy it, you are reinforcing, lack limitation, scarcity, and a belief that there isn’t enough now and there won’t be enough in the future.
Jason Hartman 28:37
So you’re saying buy everything.
Joe Vitale 28:40
I’m not saying buy everything I’m saying buy in the moment, when you are inspired. You’re truly authentically, passionately attracted for a product or service that’s right in front of you. And you have the means to get it. That’s when you want to buy it. Because when you do, you’re sending the more powerful message. I live in an abundant universe, I have enough there is enough more is coming my way. Now, obviously, you’re not going to go and buy everything because you don’t want everything. I don’t want everything. I’m a big consumer. There’s lots of things I want, but I don’t want everything. And I’m very particular about what I do want. But when I’m in the moment, and the car is there, or the book is there, or the investment courses there, or the trainer is there. And I feel like yeah, that’s a yes, I want to get that. And I have the funds to do it. Because I’m not encouraging people to go in debt. I’m very conscious about saying, if you’ve got the money and you’ve got the desire, you need to do it because of the positive impact it makes on your life and your relationship to money. This is the psychology of money, maybe even the metaphysics of money, but not buying when you can do it and you want to do it is shooting yourself in the foot. You’re reinforcing your own scarcity mindset. And if you want to create wealth, attract money and be in the flow of infinite riches you Gotta go and make the statements and the the movements that are in the right direction
Jason Hartman 30:06
by it. Yeah. Okay, interesting. So that that’s that view that the world is abundant. And it is. And that’s very, very important.
Joe Vitale 30:14
Okay. It is, well, it’s trillions of dollars passing around that must be pretty abundant. Yeah, I’d
Jason Hartman 30:18
say it’s just a matter of who’s controlling them.
Joe Vitale 30:21
So nobody’s actually controlling. And so we want to look at all these kinds of things. Nobody, there’s no one individual. In fact, I taught a course A while back in Vegas. And I remember telling people, do you realize that there is nobody preventing you legally from making more money, there’s nobody, there’s no entity, there’s no organization, surely the taxes are going to want their share, they’re going to want part of the money, but they’re not preventing you from making more money at burning more money, creating more money attracting more money, the only person that’s limiting that is you, and you’re not doing it consciously. So I’m not telling people beat yourself up. Don’t feel guilty. Don’t feel bad. It’s not your fault. But there are beliefs at work in the subconscious slash unconscious mind that we want to clean up. That’s the reason that I’m doing all my work these days. That’s the way the reason for attract money. Now, that’s the reason I even agreed to do conversations like this. There to clear the air for people I am really intending that everybody listening right now really grasp these deeper concepts, and realize money’s good, you’re worthy. We live in a prosperous universe, there aren’t any limits out there stopping you. They’re all inside. And the more we dissolve those, the more we taste the trillions that are going by.
Jason Hartman 31:42
Excellent point. Excellent point. Okay. Anything else on mechanics, Joe?
Joe Vitale 31:46
Well, the those seven steps on all of them are about mechanics. But let me talk about one other one that people are resistant to I know they’ve heard it before. This is the idea of giving. And some religious cultures call it tithing, I think it’s really important that you give the rule of thumb is 10% of whatever’s coming into your life, and spread it back out to circulate it to the universe. Now, when I say this, I’m very specific about how to do it. I never tell people just automatically give it to a church or a minister because they told you to chi, instead, I say, ask yourself, where did you get inspiration in the past week or so where were you spiritually nourished in the past week or so that’s where you want to give your 10%. And that could be to a waitress, that could be to a bus driver or a cab driver, that could be an employee that could be a family member, that can be an author or a teacher, it can be the anybody. And what you’re doing there is paying attention to where are you getting the stimulation for growth in your life, and you want to reward it, you want to acknowledge it, and you give part of your income to it. Partly because this is like traditional psychology, the behavioral kind, where you’re reinforcing it. So you’ll get more of it. The more that you can give, the more that you will receive in my book attract money. Now we talk a little bit about the window that’s created in your life to receive is made bigger by how much you give. So if you only give a tiny little bit bit, you let it squeak out. That’s how much you’ve opened your window to receive, you barely allowed any air to come in. And so this is very symbolic. This is very psychological. It’s probably even metaphysical. But I can go back and I’ve read a lot of the biographies like the first john Rockefeller, he would give away dimes, and people would say, yeah, of course, he gave away dimes back when dimes were worth 10 bucks. But he gave him away cuz he was rich. No, he gave them away when he didn’t have money. And as he gave away, he was able to give more. All the ones that I’ve ever studied all the very wealthy people, when we talk about creating wealth, these are the big guys that are bringing in multi millions and billions. They give, they give really big, they give persistently, they give predictably, they just keep giving. And it’s one of the secrets to attracting more money. I know I was resistant to this, my goodness, when I was in poverty. And people were saying things like, well, you have to give away some of your money. I didn’t want to give away anything. I was desperate. But I had to learn. Then I was creating a bond of trust in me and with the universe, so to speak, so that I can allow more to come into my life. As long as I held on to the little bit I had, that’s all I had little to nothing. So it’s another one of the mechanics you have to give
Jason Hartman 34:43
any more recommendations on giving or how you give or you know how much you should give. I mean, there’s the old law of tithing and so forth. Yeah,
Joe Vitale 34:51
the law of tithing as a general principle says give 10% of your gross. I say you have to balance that with what’s working in your life. I don’t want people to go into a psychological trauma, thinking, Oh, I can’t give away 10%, well, maybe you can only give away 3% or 5%, or 6%, or somewhere in there, working towards the 10%. And after that, start working to give away even more, but find where the comfort zone is, and then stretch it a little bit. You want to stretch out of your comfort zone, your comfort zone is keeping you comfort, comfortable, but it’s also keeping you at a level of wealth. Right now that feels comfortable. You want to keep reaching for more, and one way to do that is to give more
Jason Hartman 35:33
very good advice. Yeah, excellent. Okay,
Joe Vitale 35:35
Joe,
Jason Hartman 35:36
what other areas are there of this whole money issue? And maybe you want to broaden the discussion a little bit now. And you know, just touch on anything else as we wrap up?
Joe Vitale 35:49
Sure. Well, one of the other points in the attract money now is to think like an entrepreneur. And this is a big one, I’m sure you already do this. But I know I didn’t. When I was struggling, I was not thinking like an entrepreneur, I was thinking in a very singular way. I was thinking money could only come to me from a job or when I decided that I wanted to be a writer, money could only come to me from my writing. Well, that’s very limited thinking it’s very tunnel vision thinking in entrepreneur looks for opportunities. I’ve learned to think like an entrepreneur. And I learned it by reading books by entrepreneurs reading about entrepreneurship, reading about biographies of famous business people, and learning to see differently. So if I can train myself to be an entrepreneur, anybody can do it. And one tip right here, and this is really a million dollar idea. And it could be a multi million dollar idea. And Donny Deutsch when he had his famous show, the big idea on TV, one of the highlights of my life was being a guest on that show, he used to talk about one of the great things you can do is listen for complaints. Listen for complaints from yourself, or other people, because what they’re complaining about could be a product or service. If you resolve their complaint, when somebody says, Oh, I don’t want to stand in line, and you figure out some sort of drive thru service, or an instant delivery service, you’ve just solved their complaint, and you just created a new business. So one of the big tips is listen for complaints. Whenever you complain about something, ask yourself, can I solve this? Is there a way to remedy it? Because if you’re complaining about it, probably a lot of other people are too. And you’ve just solved the problem. And you just created a business. Same thing. If you’re going to a store or a restaurant, I don’t know clothing place. And you’re standing there and you’re hearing people complaining, why don’t they come out with this fashion? Or why don’t they come out with this size? Or why don’t they come out with this or that those are those are all opportunities in entrepreneur will turn on the radar in their brain, and there’ll be alert, I see opportunities every single day. Now I can’t even turn it off. And when I talk to people within 20 minutes of talking to somebody, I can hear the opportunity that they’re not hearing within themselves. And sometimes it’s because they have, they have an experience, they have education, they have a background that they can turn into a product or service but they haven’t realized that. So I’m encouraging everybody think like an entrepreneur, look for the ideas you can turn into businesses because you can create great wealth that way and you don’t have to do just one which means you can create multiple streams of income which is a wonderful place to be in life because well multiple streams of income that says
Jason Hartman 38:35
Absolutely. Joe, where can people find you?
Joe Vitale 38:38
My main website is my name www Joe vitality calm vi t le.com Joe vitality.com or of course they can just go get the book attract money now at attract money now.com I’m all over the internet I have podcasts I’ve got video cast my books are on Amazon my musics on CD Baby and iTunes but the portal to everything is Joe vitality calm
Jason Hartman 39:03
what’s behind the Mr. Fire name by the way. I can’t remember that from years ago but I remember us that I
Joe Vitale 39:08
do. I had a girlfriend decades ago we started calling me Mr. Fire. And I said Why are you calling me that? And she said every time I get around you where every time I see you with somebody else you ignite a fire under their butt to go for their dreams. And I thought wow, what a cool nickname. And when I put up my first site back in the 1990s I called it Mr. Fire calm Mr. Fit calm because it’s just seemed fitting. So the the monitor is held on all these decades. Yeah. Fantastic. Joe Vitaliy,
Jason Hartman 39:39
thank you so much for joining us very insightful, and some stuff we can really use today. So that’s what I like actionable advice. Any closing thought you want to share
Joe Vitale 39:51
go for your dreams I have found that your passion is the indicator to where your wealth is where your health is where your your happiness is tune in to your Passion. What is it that you really love to do or longed to do? Or would do if you were just independently wealthy, but you’ve been putting it off? Follow that. That is the secret. That is the key. That is the roadmap to your success.
Jason Hartman 40:14
Fantastic. Joe Vitale, he thanks for joining us.
Joe Vitale 40:17
Awesome. Thank you, Jason.
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