The video emphasizes the significance of patience in achieving true wealth and success. Patience is portrayed as a form of wealth that transcends financial status, allowing individuals to savor each moment and make more deliberate decisions. Rather than being impulsive, a patient person is empowered to see the broader picture, leading to emotional and spiritual richness.

Additionally, the video highlights the importance of planning for financial independence. Key practices include living within one's means, investing wisely, saving, and being cautious with credit. The speaker suggests a strategic approach to finances, emphasizing the value of time over mere timing in investing. It also compares different financial scenarios to illustrate the impact of patience.

Main takeaways from the video:

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Key Vocabularies and Common Phrases:

1. transcends [trænˈsɛndz] - (verb) - Goes beyond the limits of something; exceeds. - Synonyms: (surpasses, exceeds, overcomes)

Wealth manifests in many forms, far beyond the currency in our wallets. You see, the patient man embodies a wealth that transcends financial status.

2. manifest [ˈmænɪˌfɛst] - (verb) - To display or show by one's acts or appearance. - Synonyms: (exhibit, demonstrate, display)

Wealth manifests in many forms, far beyond the currency in our wallets.

3. impatience [ɪmˈpeɪʃəns] - (noun) - The tendency to be irritable or restless when something is delayed. - Synonyms: (irritability, restlessness, eagerness)

In every situation you encounter, impatience emerges as a source of weakness and fear, while patience embodies substance and strength.

4. embody [ɛmˈbɒdi] - (verb) - To represent an idea or quality visibly or tangibly. - Synonyms: (represent, symbolize, personify)

A patient individual is never desperate. He possesses the invaluable asset of time while the impatient man rushes frantically counting down the seconds, the patient man savors each moment, allowing opportunities to unfold naturally.

5. perspective [pərˈspɛktɪv] - (noun) - A particular attitude or way of viewing something. - Synonyms: (viewpoint, angle, outlook)

Life then becomes flat and two dimensional, and the impatient person lacks a sense of perspective

6. philosophical [ˌfɪləˈsɒfɪkəl] - (adjective) - Relating to the study of fundamental nature of knowledge, reality, and existence. - Synonyms: (thoughtful, reflective, speculative)

This insight is a hallmark of philosophical refinement.

7. inheriting [ɪnˈhɛrɪtɪŋ] - (verb) - To receive (money, property, or a title) as an heir at the death of the previous holder. - Synonyms: (receiving, succeeding to, acquiring)

Some things aren't fair. inheriting money might not seem fair, but what does that have to do with you, really?

8. strategic [strəˈtiːdʒɪk] - (adjective) - Relating to the identification of long-term or overall aims and interests and the means of achieving them. - Synonyms: (planned, calculated, tactical)

It's not just a waiting game, it's a strategic approach to living fully.

9. discipline [ˈdɪsəplɪn] - (noun) - The practice of training people to obey rules or a code of behavior, using punishment to correct disobedience. - Synonyms: (self-control, training, regulation)

It takes discipline to keep adding value to your future a little every month.

10. tapestry [ˈtæpəstri] - (noun) - Used in the transcript to metaphorically describe a complex and varied situation or experience. - Synonyms: (weave, fabric, montage)

It creates a rich tapestry of understanding, then and now, here and there, near and far.

How Patience Makes You Rich - Jim Rohns Powerful Advice

A patient man is always richer than an impatient one, even if the patient man has fewer dollars in his pocket. Now, what do I mean by this statement? Let's not confine riches to mere money. Wealth manifests in many forms, far beyond the currency in our wallets. You see, the patient man embodies a wealth that transcends financial status. Why? Because he understands the profound value of waiting to. Patience is a rare and precious commodity in a world driven by instant gratification.

A patient individual is never desperate. He possesses the invaluable asset of time. While the impatient man rushes frantically counting down the seconds, the patient man savors each moment, allowing opportunities to unfold naturally. Remember, you cannot change your destination overnight, but you can change your direction overnight. Patience allows us to steer our lives purposefully and to make decisions that are well thought out rather than impulsive. The man in a hurry may find himself bankrupt, not just financially, but emotionally and spiritually, because he fails to see the bigger picture. So cherish patience. It's not just a virtue, it's a strategy for success.

The real richness lies in your ability to wait, to learn, and to grow. Embrace this mindset and you'll discover a wealth of opportunities and a life filled with abundance. In every situation you encounter, impatience emerges as a source of weakness and fear, while patience embodies substance and strength. It's essential to recognize this fundamental truth. Patience is not just a virtue, it's a powerful ally on your journey toward success.

One of the most profound advantages of patience is that it grants you deeper insight into yourself and others. This insight is a hallmark of philosophical refinement. When you take the time to reflect and observe, you develop a rich understanding of the world around you. As I've often said, don't wish it were easier. Wish you were better.

Now consider if you can only see the short term thinking solely in terms of the here and now, you find yourself trapped in a single dimension. You become unable to judge distances, unable to appreciate the journey ahead. Life then becomes flat and two dimensional, and the impatient person lacks a sense of perspective. Without the ability to see beyond the immediate moment, you miss the beauty of the bigger picture.

Patience allows you to navigate life's complexities with wisdom and to make choices that lead to lasting fulfillment. It's this perspective that ultimately enriches your life, transforming challenges into opportunities for growth. So remember, patience is a powerful tool that not only shapes your character, but also enhances your ability to see the world with clarity and purpose. Embrace it and watch how it transforms your journey.

A man I knew had an MBA from Harvard and an engineering degree from mitzvah. Smart guy. When he retired, he started doing what he liked best, teaching college courses in economics and business planning. But when he taught economics, he also taught personal economics. This is the philosophy that he started his classes with. Decide how you want to live now versus how long you want to work. This means that if you spend everything you make now, you'll have no choice but to work longer and harder. But if you start investing in your financial future now, you'll have many choices. You can retire early, travel more, continue your career, or start a new career later in life.

Once again, it all comes down to choices. Think tomorrow today and live better tomorrow. Here's the next thing to think of when you're planning your future of wealth. Be careful with your credit cards. Selling money is big business. You probably get invitations in the mail to sign up for a new credit card a couple of times a month. Having some credit cards is important, especially if you travel. They're safer and easier to track than cash. But be careful. Credit is the easiest way to get into debt. When you buy something with a little piece of plastic, you don't feel the effect until you get the bill.

So make sure that whatever you buy, you're still happy with your purchase after you get the bill. Make sure that whatever you buy, you're still happy with your purchase after you get the bill. Here's another point to remember in becoming financially independent. It's hard to get rich quickly. It's easy to get rich slowly. It doesn't happen overnight. With conservative investments, it takes a while. It takes discipline to keep adding value to your future a little every month. It takes time to build your fortune and become wealthy. There's a saying about investing time, not timing. It takes time. Time. If playing the stock market is what you do, then you know that timing is a whole different ballgame. But for the average person, it's time.

A study was done a while back that analyzed stock market investments. The study considered two scenarios. In the first scenario, stocks were bought at the very worst possible time and sold at the very worst possible time. Bow high and sold low, and after 40 years, the average return was around 10%. Scenario one dealt with time. In the second scenario, stocks were analyzed over ten years. Stocks were purchased at the best possible time and sold at the best possible time. After ten years, the average return was about 10%. The second scenario dealt with timing. So timing might not be all it's cracked up to be.

Be patient in building your financial independence, it will come in small steps at a time. It's hard to be patient sometimes, but it's just like achieving your goals. It happens one step at a time. What about those situations when patience has nothing to do with becoming wealthy? What about those trust fund babies who are handed their financial independence on a silver platter? They never have to work a day in their lives if that's what they choose. Their first car is a Porsche. Their first house is a mansion. Their first job is at their father's company.

What about those people born rich? Some guy says it isn't fair that I'm working like crazy all day, all week, all month, all my life. It just isn't fair. I'll never have that kind of money. Well, some things aren't fair. inheriting money might not seem fair, but what does that have to do with you, really? If your dream is to have greater wealth than some people you know, then you'd better start working harder and smarter on your own goals, your visions. And stop pondering what's fair and what isn't.

Start examining what's keeping you back instead of what's keeping you ahead. Start looking at what you're doing. There are plenty of stories, examples and experiences of people who began their careers destitute and had enough resolve to do it until they had more than they ever dreamed of. Study the experiences of others who built their way to the top instead of those born there, and you'll not only reach the top, you'll truly deserve it.

You see, goal setting is a fantastic skill to develop and how you design your future. A life best lived is a life by design, not by accident, and not by just walking through the day, careening from wall to wall and managing to survive. If you can start giving your life dimensions and design and color and objectives and purpose, the results can be staggering.

Goal setting gives you the chance to experience the power of your imagination. Think about it. Imagination builds cities. Imagination conquers disease. Imagination develops careers. Imagination sets up relationships. Imagination is where all tangible values and intangible values begin. So what you've got to learn to do is use this powerful resource.

Goal setting is powerful because it provides focus, shapes our dreams, and gives us the ability to hone in on the exact actions we need to take to get everything in life we desire. Goals cause us to stretch and grow in ways we never have before. To reach our goals, we must become better. We must change and grow. Powerful. Goals have three components. They must be inspiring. They must be believable. They must be goals you can act on life is designed in such a way that we look long term and live short term.

We dream for the future and live in the present. Unfortunately, the present can produce many hard obstacles. Fortunately, the more powerful our goals, because they are inspiring and believable, the more we will be able to act on them in the short term and guarantee that they will come to pass. The power of perspective perspective is a remarkable gift that allows you to measure your current plans against your past experiences and align them with your desires and aspirations for the future.

It creates a rich tapestry of understanding, then and now, here and there, near and far. Need and know, watch and wait. These dual optics empower the patient man to see in stereo. In contrast, the nearsighted individual is fixated solely on the present moment, unable to grasp the broader landscape. The fantasizer, on the other hand, is trapped in an imaginary future, often stumbling over his missteps as he races toward unattainable dreams.

As I've always said, you can't just wish for it, you have to work for it. Patience is the key that unlocks the door to a clearer view of the big picture. It enables you to make the most of today while diligently building a better tomorrow. Each step taken with patience is a step toward a richer life, one where you cultivate your dreams with intention and foresight. This is why patience stands as one of the most valuable equities of all, an asset you should strive to acquire. It's not just a waiting game, it's a strategic approach to living fully.

The payoff is worth every moment you invest in it, as the rewards of patience compound over time. So embrace patience, cultivate your perspective, and watch how it transforms your journey. In the grand scheme of life, the ability to wait with purpose is what will ultimately lead you to lasting success.

Now let's talk about the three money habits that set the rich apart from the poor. Here's an exciting why not work full time on your job and part time on your fortune? Imagine the feeling you'll have when you can proudly say, I'm working to become wealthy. I'm not just working to pay my bills. When you have a wealth plan in place, that motivation ignites within you, so much so that you might find it hard to go to bed at night.

So allow me to share a simple yet powerful formula for creating wealth. The 70 30 rule. After you've paid your fair share of taxes, learn to live on 70% of your after tax income. This portion covers your necessities and a few luxuries. The remaining 30% is where the real magic happens, and I want to break it down for you.

Wasn't charity out of that 30%? Allocate one third, about 10%, of your after tax income, to charity. Giving back to the community and helping those in need is essential. Teach the act of giving early on. When the amounts are small, it's easy to give a dime out of a dollar. But it becomes much harder to part with $100,000 from a million. You might say, if I had a million, I'd have no trouble giving $100,000. I'm not so sure that's still a significant amount of money.

Start cultivating the habit of giving now so you're ready when the bigger opportunities come. Two capital investment. Next, take another 10% of your after tax income to create wealth. This is your investment fund. Use this money to buy, fix, manufacture, or sell. Engage in commerce. Even if it's just part time, there are countless ways to create wealth.

Let your imagination roam. Reflect on the skills you've developed at work or through your hobbies. They may lead to a profitable enterprise. You might consider buying a product wholesale and selling it at retail, or purchasing a piece of property to improve and rent or sell. Use this 10% to invest in equipment, products, or equity. Start now, and who knows what genius is within you, waiting for the spark of opportunity.

Three savings. Finally, the last 10% should go into savings. This part of your wealth plan is crucial because it offers peace of mind and prepares you for the winters of life. Let me define rich and poor. Poor people spend their money and save what's left. Rich people save their money and spend what's left.

Consider 20 years ago, two people each earned $1,000 a month and received the same increases over time. One spent first and saved what was left. The other saved first and spent what was left. Today, if you knew both individuals, you'd call one poor and the other wealthy. Remember, giving, investing, and saving, like any discipline, has a subtle effect. At the end of the day, the week, or even the month, the differences may seem minimal. But allow five years to pass and the contrasts become pronounced. After ten years, the differences are dramatic. It all starts with the same amount of money, just a different philosophy.

Embrace these three money habits, and you'll be well on your way to crafting a future filled with wealth, abundance, and peace of mind.

In conclusion, patience is not merely an absence of action. It is a powerful state of mind that allows us to navigate life's complexities with grace and wisdom. It teaches us that true wealth is not found in the speed at which we achieve our goals but in the depth of our understanding and the quality of our choices. As we cultivate patience, we enrich our lives with perspective, enabling us to see the vast horizons of possibility that lie ahead.

Remember, the more you know, the more you realize you don't know. Patience empowers us to learn from our experiences, grow through our challenges and build a future that aligns with our deepest desires. So my friends, let us embrace patience as a guiding principle. Let it be the steady hand that steers our ship through the storms of life. With patience as our companion, we will find ourselves not just waiting for success but actively preparing for it.

The journey may take time, but the rewards of patience, insight, understanding and lasting fulfillment are worth every moment spent waiting. Invest in your patience today and watch how it transforms not only your life but also the lives of those around you. Remember, the seeds you plant with patience today will yield the richest harvest tomorrow.

Entrepreneurship, Finance, Inspiration, Patience, Financial Independence, Goal Setting, Daily Wisdom