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You decide how difficult your life will be — Transcript

by Rajat Soni, CFA · 4,213 words · 668 segments · language en · Watch on YouTube

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0:00Choose your heart. Do you suffer today,
0:03or do you suffer in the future? You get
0:05to decide when you face the difficulties
0:08in your life, and most people are facing
0:11them in the future rather than today.
0:13They're kicking the can down the road.
0:15Let me give you a couple of examples
0:16here. I really like to eat, so in the
0:19past, I used to eat as much as I wanted
0:22whenever I wanted, and I didn't really
0:24have any regard for what it'll make my
0:26body look like in the future. I had some
0:28idea of, "Okay, I can't eat too much
0:30candy. I can't eat no too much
0:32chocolate." But, let's say for example,
0:33if it was chicken and rice, I could
0:36probably stuff my face for a very long
0:38time, eat way more than I needed to, and
0:41feel bloated afterwards just because it
0:43feels good to my taste buds. It feels
0:46good in the moment. So, today, I was
0:49overeating.
0:51And what did that lead to? It led to me
0:54not having the body that I wanted. I
0:56always wanted to be fit. I wanted to
0:58look like I went to the gym. I wanted to
1:01be stronger than I ever was before.
1:05Obviously, some of that can come from
1:06overeating, but I just look like
1:09That's the the main point. I looked
1:11horrible. I looked like Why? It's
1:15because I was focused on today's
1:18pleasure
1:19rather than tomorrow's results. I was
1:21focused on getting all the tastes and
1:24flavors into my mouth ASAP because I
1:27didn't really care about what I would
1:28look
1:29in the future, like what I would look
1:31like in the future. And
1:32I think that's something a lot of people
1:34do. Most people today are probably 20,
1:3725, 30, 35% body fat, significant
1:40amounts of body fat, excess body fat
1:42that they don't really need.
1:45And the reason for that is that they're
1:46focused on today.
1:48They're focused on getting the pleasure
1:51today, the dopamine hit today, rather
1:53than focusing on
1:55the pleasure 5 years from now from
1:57eating properly. So, if
2:00the pain in this case was in the future.
2:04In my case, I felt pain 5 years from
2:07now. Well, I would feel pain 5 years
2:09from now if I keep eating like garbage 5
2:11years 10 even a year from now even like
2:136 months from now. I'd probably
2:15look like if I was overeating. On
2:18the other hand,
2:20let's say I were to eat in a deficit.
2:22Eating in a deficit
2:25I feel the pain of that today because I
2:28don't get to choose how much I eat. I
2:30don't get to eat however much I want.
2:33Today is the pain because I'm eating in
2:35a deficit. I'm eating fewer calories
2:36than my body needs and I'm cutting body
2:38fat. I'm going to the gym. Let's say
2:40going to the gym.
2:43Let's say going to the gym.
2:45Those two things are painful today.
2:48But in the future, I'll have less body
2:50fat.
2:54And that could that doesn't have to take
2:565 years. It could take like 6 months. It
2:58could take 3 months. In my case, it took
3:01uh 2 months for me to physically look
3:04different
3:06because I'm eating in a deficit and
3:08going to the gym more consistently. I'll
3:10have more muscle
3:135 years from now if I were to go to the
3:15gym. And keep in mind going to the gym
3:16is something that you don't see the
3:18results like I said here. You can see
3:19the results in 2 3 6 months. But with
3:22going to the gym, it takes time. It
3:23takes a lot of effort. It takes a lot of
3:26energy. Very painful today. You feel
3:28sore. You feel like your body is eating
3:31itself because you're building muscle.
3:34You're you're doing something that your
3:35body isn't used to. You're leaving the
3:37home the the the status quo. What what
3:40is it? Homeostasis, I think it is.
3:42Homeostasis is where your body is at a
3:44certain level and you're trying to push
3:46it past that level. So, you can see here
3:49homeostasis is the self-regulating
3:51process by which biological systems
3:54maintain a stable balanced internal
3:55environment, a state of dynamic
3:57equilibrium, despite changes in the
3:59outside world. So, what's happening here
4:01is your body is doing whatever it can to
4:04stay exactly the same for as long as
4:06possible. And when you go to the gym,
4:08you're doing something that pushes it
4:10out of its comfort zone. You're pushing
4:12it out of homeostasis. Same thing with
4:14eating in a deficit. You're pushing your
4:16body to lose stored body fat. Your body
4:20He wants stored body fat because that
4:22means that it can survive longer. And we
4:24have more body fat than we've ever
4:26needed. This also applies to money.
4:29And it It's not just It's not just your
4:31body. It applies to money. So, let's
4:32say, for example, you go to work.
4:36You go to work today
4:39to be able to pay for things that you
4:41need.
4:42That could be a year That could be a a
4:43month from now. That could be a day from
4:45now. Pay for what you need.
4:48If you don't go to work, you don't go to
4:50work,
4:52you're going to be homeless.
4:54You're not going to have the things that
4:55you need. Or you don't have to go to
4:57work. Uh you don't have to just don't
4:59produce any value for anyone. I'll I'll
5:01change that. Don't produce value.
5:03Because not everybody has to go to work.
5:05I don't go to work.
5:06Um don't produce value.
5:09If you don't produce value, if you don't
5:11get money, if you don't get
5:13energy units,
5:14that's what money is, basically, units
5:16of energy that allow you to pay for
5:17things that you need, pay for food, pay
5:19for shelter, pay for water, whatever it
5:22is, entertainment. You don't produce
5:24value, you're probably going to be
5:25homeless. You do produce value,
5:30you'll be able to pay for whatever you
5:31need.
5:32If you produce the right amount of
5:34value, if you do everything. I'm not
5:35going to go into the nuances here, but
5:36obviously some people work 40 hours and
5:38they don't get to pay for they for what
5:39they need. But let's say you do get a
5:41livable wage, you produce value, you pay
5:43for what you need. Even that's a choice,
5:45right? You get to choose whether you go
5:46to work. Some people sit at home all
5:48day, they do nothing. Or let's say they
5:51uh you can do something else. You work a
5:52minimum wage job.
5:56You're going to probably struggle.
5:59You're going to struggle because the
6:01work that you do can easily be replaced
6:03by somebody else, a robot, or something
6:05something that can do it faster than
6:07you, more efficiently than you, without
6:09complaining, without taking breaks. You
6:11can be replaced by a machine like people
6:13who used to take orders at McDonald's,
6:15the cashiers. They're being replaced by
6:17robots, by computers that don't
6:19complain, that work non-stop, that do
6:21what they need to,
6:23and they never stop. They're they're
6:24much more efficient. So,
6:27you can work for minimum wage, or
6:29you can build skills that take that's
6:31painful in the in the present. It hurts,
6:33it's more difficult, it's painful
6:35because you have to
6:37change who you are, you have to change
6:39how you think, you have to change what
6:41you know,
6:43build more skills,
6:44but you'll get paid more.
6:47You'll get paid more because you built
6:48those skills. You put in the time today,
6:50let's say it took you it takes you 15
6:51hours to build a skill. Let's say it
6:53takes you uh let's say 30 hours to learn
6:56the basics of Microsoft Excel. But now
6:59you can go from being a cashier at a
7:01grocery store to being some kind of
7:04maybe financial analyst or a data entry
7:06specialist. I don't know what you could
7:07do, but what you you could essentially
7:10do do more at work, you could produce
7:12more value for other people, you can
7:14solve more difficult problems, and
7:16you'll get paid more. So,
7:20you get to choose your hard. Do you want
7:22to deal with the difficulties today,
7:25or do you want to deal with the
7:26difficulties tomorrow?
7:28Do you want to watch your Netflix
7:30movies,
7:33watch your Netflix movies,
7:34or
7:36do you want to go to the gym?
7:39We'll compare that to
7:41uh number four here, going to the gym.
7:42Instead of let's say going to the gym,
7:43you watch your Netflix movies. What's
7:45going to happen in 5 years?
7:47You'll probably have less muscle.
7:51You'll be fatter.
7:54You'll
7:56you probably won't like what you look
7:58like. You won't like what you look like.
8:01You'll get weaker.
8:05You'll get weaker.
8:09And I'm not saying that you can't watch
8:11Netflix movies. I'm saying if you were
8:12to choose between watching a Netflix
8:14movie and going to the gym, let's say
8:15you have a scheduled workout and you're
8:18in the middle of a movie.
8:20Are you going to
8:21stop watching the movie,
8:24choose the more difficult thing and go
8:26to the gym, or are you going to choose
8:28the easier thing, the thing that
8:29benefits you now
8:31instead of in the future? Are you going
8:33to
8:34continue watching the movie and you're
8:35going to skip the gym? What are you
8:37going to do? That's It's up to you how
8:39you take actions today,
8:41but in 5 years, 10 years, 15 years from
8:43now,
8:44it all shows up.
8:45Everybody will be able to see
8:47what you've been doing with your time.
8:50It they may not be able to see it today,
8:54but
8:55a lot of people, let's say for example,
8:56a lot of people in their 20s, they're
8:58very active. They're walking around,
9:00maybe they go to when they go to
9:01university, they're going from class to
9:03class. They're
9:05taking the longer route to walk from
9:07where they want to
9:09from where they are to where they want
9:10to go. They're taking the longer route
9:11or they're forced to walk because they
9:13don't have the money to pay for public
9:15transit, they don't have the money to
9:16pay for a car or for an Uber. So, they
9:18walk and because of that, they're more
9:20active.
9:21Because they're more active, they're
9:22burning more body fat and they're eating
9:24at a deficit unintentionally, so they
9:26have less body fat, but eventually it
9:28catches up to them because in their 30s,
9:30now they have money. Now they're
9:32producing value. They get to pay for
9:33what they want and now they have a car
9:36and they never walk because they don't
9:37have to anymore. They choose
9:40not to be active because they don't have
9:42to be.
9:43And it all it all shows up. Let's say
9:45they they don't go to the gym, they're
9:46not in a deficit anymore, they're eating
9:49way more than they need.
9:51In 5 years,
9:53everybody around you will be able to
9:54tell that you overindulged. Everybody
9:56will be able to tell. They'll be able to
9:58see your clothes fit tighter,
10:00not in a good way. Your muscles aren't
10:02bulging out, it's your rolls of fat that
10:04are bulging out. Your shirts
10:07look horrible on you, you're you have a
10:08belly.
10:10That's exactly the situation I was in.
10:12I went from 170 in or 165 or so in
10:16university to 197.
10:19197 lbs. I gained like 32 lbs in
10:23uh until 2019. So, from 20
10:27uh 14 till 2019, I gained about
10:31Sorry, not four. I think I said 42, but
10:32I meant 32. I gained about 32 lbs. These
10:35videos aren't scripted. I just make them
10:36as I go. Uh but I gained 32 lbs in that
10:39time. And why was that? It's because I
10:40started walking less. It's cuz I
10:43obviously my metabolism may have slowed
10:44down, but not that much.
10:4734
10:48um
10:49A lot of people use that as an excuse,
10:50but you your metabolism doesn't slow
10:52down that much. It's that you are less
10:54active.
10:55You start eating
10:57in a surplus.
10:59So, you gain body fat. That's how your
11:00body gains fat. People will give all
11:03kinds of excuses in 5 years to avoid
11:06taking accountability. They'll say, "Oh,
11:07it's my It's my genetics. It's my I I
11:10used to say that. I used to say, "Oh,
11:11it's my South Asian genetics. It's cuz
11:13I'm supposed to be like this." Um
11:17South Asians gain more body fat than
11:19everybody else. Like think about that.
11:21That's what a lot of people are doing
11:22today. They don't produce enough value.
11:25They don't build more skills.
11:27And when they're struggling to pay for
11:28their expenses,
11:30they blame the government. They blamed
11:33corporate greed. They blamed the
11:34billionaires instead of
11:37thinking about what they didn't do in
11:39order to earn
11:42the life that they want. Of course, this
11:44applies to Bitcoin as well. You can
11:46choose
11:48to avoid Bitcoin today.
11:50You can choose to buy other assets
11:53because they're more stable. You can
11:54choose to hold on to dollars. But in 5
11:56years,
11:57when your portfolio doesn't outperform
12:00Bitcoin or when it performs
12:03way worse than you had expected it to,
12:06what are you going to say? Who are you
12:07going to blame? You get to choose your
12:09hard. Are you going to deal with the
12:12volatility today
12:14to get the results
12:16in the future? Or
12:18are you going to choose the easy path?
12:20Are you going to choose the stability
12:22today? Are you going to hold on to
12:24dollars because you don't want to take a
12:26risk with your dollars? You want to
12:27protect your money. Are you going to
12:28hold on to dollars, take the easy path
12:31today,
12:33and have a much more difficult life in
12:34the future? Because if you save in
12:36dollars,
12:38I can tell you that your bank account
12:39won't change. If you don't spend your
12:40dollars, your bank account won't change.
12:41It'll stay exactly the same. It won't It
12:43won't decrease. It won't increase, but
12:45it also won't decrease. And that's the
12:46thing that people hate. People hate
12:48losing money. They worked hard for this
12:49money. Why would they want to lose it?
12:51So, your bank account won't decrease,
12:52but it also won't grow unless you add
12:55value to it, unless you add more dollars
12:58to it. So, the difficult path today is
13:00dealing with the volatility, dealing
13:02with Bitcoin falling 30, 40, 50, 60%
13:05from the top, 70% even from the top.
13:08People don't want to deal with that.
13:09Most people don't want to deal with
13:10that. I hope you're not one of those
13:12people. Most people don't want to deal
13:13with that,
13:14but they also want the results that
13:17Bitcoin gives them. So, what do they do?
13:20They buy shitcoins. They gamble on penny
13:22stocks. They buy meme coins. They They
13:25in and out of assets that they don't
13:27understand. They use tons of leverage,
13:29and what happens?
13:31They end up either with zero
13:33or a lot more money than they had
13:34expected, and then they gamble that away
13:36because they haven't built the systems
13:38inside their head that will make them
13:40truly wealthy. So, again, you get to
13:42choose your hard. Buy Bitcoin,
13:47buy
13:48stocks like ETFs.
13:52Let's say like the S&P 500.
13:54e.g. S&P 500.
13:58S&P 500.
14:01Save in cash. That's the third option.
14:05Save in cash.
14:07And what results do these give you? In 5
14:09years, it's very likely that with
14:11Bitcoin, you're going to be very happy
14:12with your results. Happy with your
14:14results.
14:17You'll probably be
14:19outperforming anything else. You'll be
14:21definitely be outperforming the S&P 500.
14:23The S&P 500 will give you average
14:26results.
14:27And you may not even surpass inflation,
14:30underperforming inflation.
14:33Why do so many people who buy the S&P
14:35500 What Why do they
14:37Why Why Why aren't they really wealthy?
14:39Why aren't they truly financially free?
14:43It's because the S&P 500 is designed to
14:44keep you working for 40 years. 40 years
14:47from now,
14:48you're going to be a completely
14:49different person. You're going to hate
14:50yourself for not taking the risks that
14:53came with Bitcoin because those risks
14:55are gone.
14:57You see a hockey stick uh in terms of
15:00results with Bitcoin. It goes slow in
15:02the beginning. It moves sideways. It
15:04pretty much moves sideways. And then
15:05eventually, it just goes straight up.
15:07That's exactly what's happening over and
15:08over again with Bitcoin. Whereas with
15:10the S&P 500, it goes up
15:12pretty much consistently. It just keeps
15:13going up. Keeps going up. Doesn't go up
15:15like a hockey stick.
15:16In the cash example,
15:19you're going to have nothing.
15:21You'll literally have nothing.
15:24And you'll be dealing with the pain for
15:26that
15:28in the future. You're not going to deal
15:29with that today because you're not going
15:31to see your portfolio, your savings
15:32account fluctuate.
15:35You're going to see the pain
15:36in the future. You're going to see the
15:37pain in 40 years when you finally
15:39realize inflation was way higher than
15:41you expected. Your 0.1% interest on your
15:44savings account wasn't enough. Your bank
15:46told you it was enough, but it wasn't.
15:48And now you can't do anything about it.
15:49You can't sue them
15:51because
15:52they have the best lawyers, they have
15:53the best legal teams. You can't sue them
15:55for giving you the wrong information.
15:57Like they'll they'll say, "Oh, make your
15:59money work harder than you. Put it in
16:01the savings account. Put it in this
16:03account giving you 0.1%.
16:05The messaging is built to tell you that
16:07your money can grow, but it really
16:09can't. You have to do the research to
16:11get to that point. Again, that's another
16:13one, doing the research.
16:16Learning how money works.
16:18Learning how money works.
16:20With both of these, you don't see the
16:22results today. It's actually more
16:24difficult today because you're putting
16:26your time towards reading a book,
16:28towards watching YouTube videos, towards
16:30learning how money actually works,
16:32towards learning how investment uh
16:34investment returns actually work, how
16:35investing works. You're putting in the
16:37time today, you're dealing with the pain
16:38today, you're choosing to deal with the
16:40pain today. But in the future,
16:43basically unlimited dividends
16:46from doing the research and putting in
16:47the time to learn how money works
16:48because if you learn how money works,
16:50you'll probably I don't know if you're I
16:53don't know if that's guaranteed, but
16:54you'll probably take action at some
16:56point in the future.
16:57You'll probably take action. I don't
16:59know when.
17:00Some people study
17:02all the time, they keep learning, they
17:03keep learning, and they don't take
17:04action. But I'm I'm hoping that if
17:06you're to do the research, if you were
17:07to learn how money works,
17:09you'll take action. You can potentially
17:12get infinite results from that. You
17:14might buy the S&P 500, you might buy
17:17Bitcoin. The goal here though is that
17:19you'll get out of cash because you'll
17:21realize that cash
17:23is a scam. But again,
17:25all of these
17:27are the actions that you take today.
17:30The actions that you take now,
17:34but you get to choose whether or not you
17:36want to deal with the pain now
17:39or later.
17:40Do you want to go to the gym and feel
17:42sore for the next few days?
17:45Or do you want to not be able to move
17:48in 5 years, 10 years, 20 years, or when
17:50you're like say 60, 70? Do you want to
17:52be moving around in a mobility scooter?
17:54Obviously, there's going to be
17:55situations where people go to the gym,
17:57they're very healthy, and they do end up
17:59having to use a mobility scooter. Maybe
18:01they stopped going to the gym, maybe
18:03they stopped taking care of their
18:04health, or something happened like their
18:05health
18:07uh
18:07got worse for whatever reason. Maybe
18:09their genetics really were that bad or
18:11they got hit by a car, something
18:13happened, they got injured, they fell
18:15down the stairs, they broke a bone,
18:16something along those lines. But if you
18:18go to the gym, chances are you'll have
18:19more muscle, you'll be self-reliant,
18:22you'll be able to move around on your
18:24own.
18:25That's the difference. You get to choose
18:27when you face the difficulties. And most
18:29people are choosing to face the
18:30difficulties later. They keep kicking
18:32the can down the road. They keep
18:35not taking the right actions today.
18:38And you can see that with the US
18:39government. I mean, they're most
18:40people's role models. The US government
18:42is in $40 trillion worth of debt.
18:44They're spending whatever they want
18:45today.
18:46Spend what you want.
18:50And in the future,
18:52who gets screwed over? The future
18:54generations.
18:56But that's for the US government. If you
18:57spend what you want, you're screwing
18:59yourself over. You're not going to be
19:01able to pay for the things that you want
19:03to. You're not going to be able to live
19:06the standard of living that you want.
19:08You're going to have to rely on
19:09pensions,
19:11rely on other people
19:13to sustain your lifestyle. You're going
19:15to have to rely on
19:17your government handouts. If you want to
19:21pay for a condo, if you want to pay for
19:22an apartment, if you want to pay for
19:24basic food, you have to rely on somebody
19:26else because you spent everything today
19:30rather than
19:31putting some money away for the future.
19:33So, you get to choose your own
19:35future. You get to choose the hard that
19:37you want to deal with. Do you want to
19:39deal with the pain today?
19:40Maybe it's minor.
19:42It's something that you can deal with.
19:43Going to the gym isn't that hard.
19:45Cutting down your expenses isn't that
19:46hard. Tracking your calories isn't that
19:49hard.
19:50Or do you want to look like in the
19:53future and you can't reverse that. Do
19:55you want to be poor in the future and
19:57you can't reverse that. There's nothing
19:58that you can do to change it. Do you
20:00want to be in a situation where you have
20:03no control over your future or do you
20:04want control over your future? Are you
20:06going to favor how you feel today? You
20:09feel full.
20:10You feel
20:12rested.
20:13You don't feel sore.
20:15You feel like you have the freedom to
20:17buy whatever you want.
20:19Or are you going to give favor to the
20:21results that you get in the future? For
20:23me personally,
20:24whenever I give
20:26more favor to the results that I get in
20:27the future, I'm much happier. I've
20:29noticed that.
20:30It took me some time to lose
20:335% body fat. I guess you can say this is
20:35an update to my video maybe a month ago
20:37or month and a half ago or so.
20:39Um it took me some time to get to this
20:41point, but I lost
20:42like 13 lb.
20:44A lot of it is body fat because I know
20:45that I retained a lot of muscle. I know
20:47I've been going to the gym. I've been
20:49eating enough protein. I've been eating
20:50enough fiber. I feel full.
20:53And I retained a lot of muscle, but I
20:54lost a lot of body fat. I think that's
20:57the important thing. I prefer that
21:00at least now. I prefer that over
21:01stuffing my face, not being able to put
21:03the fork down. I prefer having the
21:06results that I worked for
21:08over getting the short-term dopamine
21:10hits from overeating, from eating
21:12whatever I wanted to. And I know that's
21:14going to happen with my finances. If I
21:16just keep focusing on the inputs, if I
21:18keep focusing on my actions today,
21:21at some point in the future, I'll have
21:23the results that I want. I've already
21:25seen the results of that. I've already
21:27seen the results of putting your money
21:28into the S&P 500, seeing it grow, but
21:30not grow as much as you would expect it.
21:32I've also seen the results of putting
21:34your money into Bitcoin when everybody
21:35else doesn't want it,
21:37not following the herd, doing what
21:39everybody else doesn't want to do, and
21:41then holding, doing something that other
21:43people aren't willing to do. They're not
21:44willing to hold. They're not willing to
21:46get through the volatility. I've seen my
21:48Bitcoin go up significantly. For
21:49example, I bought some at 16,000
21:53in 2022.
21:55And now that's up five times, 5x.
21:58And all I had to do was
22:00take action when nobody else wanted to
22:02take action, take action when I didn't
22:04want to take action.
22:06I obviously didn't buy as much Bitcoin
22:07as I wanted to back then. If I I I wish
22:09I had bought more, but whatever action I
22:12did take,
22:13I see the results of those actions
22:15today. So, you get to choose whether you
22:17face the difficulties today or tomorrow.
22:18The difficulties that you face today are
22:20probably going to be a lot easier than
22:21the difficulties you face in the future.
22:24In the future, you probably can't
22:25reverse the results that you get,
22:26whereas today, you can choose to reverse
22:29whatever your situation is. In 10, 20,
22:3130 years, compounding will take effect,
22:34and your situation will be much worse
22:36compared to if you had taken action
22:38today.

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