The video features Leon Howard, known as the Wall Street Trapper, sharing important lessons on financial literacy, wealth building, and mindset change. Inspired by his own transformation from humble beginnings to a financial educator, Howard emphasizes the importance of owning assets to achieve wealth. By investing in stocks, starting businesses, and engaging in real estate, individuals can transition from merely spending money to creating lifetime profits.

Howard explains how understanding and investing in familiar areas can be a powerful strategy for financial independence. He encourages viewers to invest in what they inherently know, whether it be in technology, fitness, or fashion, as this familiarity can help make informed decisions and minimize risks. He stresses the importance of financial technology and having an investor identity based on one's personal expertise and interests.

Main takeaways from the video:

Please remember to turn on the CC button to view the subtitles.

Key Vocabularies and Common Phrases:

1. financial literacy [fɪˈnænʃəl ˌlɪtəˈræsəti] - (noun) - The knowledge and skills needed to make informed and effective financial decisions. - Synonyms: (financial education, money management skills, financial awareness)

Lesson one, financial literacy. Understanding the basics of finance investing, and how the stock market works.

2. empowerment [ɪmˈpaʊərmənt] - (noun) - The process of becoming stronger and more confident, especially in controlling one's life and claiming one's rights. - Synonyms: (authorization, enablement, self-empowerment)

The Wall street trapper is a name synonymous with financial literacy and empowerment.

3. probable cause [ˈprɑːbəbəl kɔːz] - (noun) - Reasonable grounds for making a search, pressing a charge, etc. - Synonyms: (reasonable grounds, sufficient reason, legal cause)

It's called fruit of a poisonous tree. So they kicked in my door, but they didn't have probable cause because they stopped me in my truck, didn't find nothing on me.

4. null and void [nʌl ənd vɔɪd] - (adjective) - Having no legal force or effect; invalid. - Synonyms: (invalid, unenforceable, nugatory)

So now everything you find is null and void.

5. mindset [ˈmaɪnˌsɛt] - (noun) - The established set of attitudes held by someone. - Synonyms: (attitude, mentality, outlook)

Lesson three, mindset shift. Changing how you think about money is crucial.

6. catalyst [ˈkætəlɪst] - (noun) - Something that causes activity between two or more persons or forces without itself being affected. - Synonyms: (stimulus, impetus, spur)

If learning is the catalyst to everybody who's wealthy and successful, I can never be sufficient with what I know.

7. familiarity [fəˌmɪlˈjærɪti] - (noun) - Close acquaintance with or knowledge of something. - Synonyms: (acquaintance, closeness, knowledge)

Howard explains how understanding and investing in familiar areas can be a powerful strategy for financial independence.

8. gratification [ˌɡrætɪfɪˈkeɪʃən] - (noun) - Pleasure, especially when gained from the satisfaction of a desire. - Synonyms: (satisfaction, pleasure, delight)

Cause you gotta now go. Go against and do without some of the things that gives you that momentary gratification.

9. familiar [fəˈmɪljər] - (adjective) - Well known from long or close association. - Synonyms: (well-known, recognizable, usual)

Like what you're willing to risk, your risk tolerance, what companies you're more familiar with

10. informed decisions [ɪnˈfɔːrmd dɪˈsɪʒənz] - (phrase) - Decisions based on relevant information, knowledge, or understanding of the situation. - Synonyms: (knowledgeable choices, educated decisions, data-driven decisions)

Trapper teaches us that wealth isn't built overnight. It's about long term investments, understanding market trends and making informed decisions.

The 3 Lessons I Learned from The Wallstreet Trapper - Best Advice to Getting Rich in 2024

The people who aren't wealthy is because they don't own nothing. You only have your money sitting in cash. If your money is just sitting in cash, realistically, you're becoming poorer every day. Wealthy people, first they get into stocks, then they start a business, and then they get real estate. So when people ask me, how did I get into stocks, it's because I followed that rule. And I'm not gonna lie. In the beginning was like Chinese to me, right? This is a foreign language.

And so what happened to me was it started reminding me of being in the streets, everything about it. And I heard this term one time that said, the real gangsters are on Wall street. The real gangsters are in the government. And I was like, damn. The Wall street trapper is a name synonymous with financial literacy and empowerment. From his humble beginnings to becoming a respected financial educator, Leon Howard's journey is nothing short of inspirational. In this video, we will go over the three lessons that the Wall street trapper preaches to help you become rich and successful.

If you can start owning the businesses that you now consume every day, you turn a one time transaction to a lifetime of profit. And that was major for me, because if I go to a store and buy a pair of Nikes, that's a one time transaction. In order for me to get something from them again, I got to come back and buy another pair of Nikes. But if I own the Nike stock, as long as I own it, it's a profitable vehicle for me. So that one time transaction can become a lifetime of profit.

If I own that business, if I'm a buy Apple, if I know I'm an Apple user, if I know I got the phone, I got the AirPods, I got the MacBook, I got the PC, I got excited. When Apple's about to drop something, why wouldn't I own it? As much of it as I can, right? Like, if I understand that concept, if I know people gonna. America has one of the biggest trash problems in the world, right? So if I know that waste management is a company that's going to be here forever because we aren't going to stop throwing things away, why don't I own that company?

Because I know everybody throws things away. And so now, instead of me getting excited about Apple lime being around the Kona because it's a new phone, I'm like, yo, y'all about to make me some money, right? So when I hear a company like waste management has bought 40 acres of disposable land or another landfill, I'm excited about that. And another great thing about the stock market is, for me, it now makes me pay attention to the world. And so now I understand what's going on in the world.

I started learning business cycles, market cycles, you know what I'm saying? Like, because now I can understand, yo, this is, okay. Things are going out of business, okay? We're in this cycle, okay. People are hiring. Okay? We're in expansion cycle. And so now I started taking. I took an economic class on my own without just understanding the world. And so you start understanding when something is happening in China, okay?

Something happening in China. So I own Apple. Apple has 20% of their revenue in China. Okay? They might take a little hit right now. You know what I'm saying? So the stock market helped me start understanding how the world moves, the fundamentals. Lesson one, financial literacy. Understanding the basics of finance investing, and how the stock market works.

The Wall street trapper emphasizes understanding the basics of finance, knowing how money works. Understanding stocks, bonds, and the importance of budgeting are the first steps toward financial freedom. Invest in what you understand. So if you wear nikes. Yeah. You should be looking at apparel brands, right? Nike, Lululemon. Because you understand that, right?

If you a workout person, then you should be looking at, like, planet fitness, things like that. Like, if you are a tech person, if you use an Apple phone, you should 100% be on looking at Apple, right, if you're a car person. But one of the things I like now is fintech, financial technology. So everybody uses PayPal or square, right? That is the way money is changing. The way we use the money is completely different now. So I think everybody should be investing in fintech right now, 100%.

But I look at it as, so every investor has what's called an investor identity. Like what you're willing to risk, your risk tolerance, what companies you're more familiar with. If you're a doctor, then you know more about medicine. So you should be in biotech or pharmacies, healthcare, you should. That should be your thing. If you are, again, a person who's in software, then cybersecurity software, that's where you're going to be strong at the. I remember Warren Buffett said for a long time, he didn't understand technology.

So he didn't buy technology. He didn't buy Apple stock until, like, 2017. He was like, I don't understand. I don't even have a computer. I don't use it. I don't even use it, right? So I learned that from him. He says I put things in a too hard box. It was too hard for me to understand. I don't do it. And what I love about investing is it's not an iq sport. It's not about who has the biggest iq at all, because it's mostly about how do I stay in my circle of confidence and what I understand, because that's what gives me that advantage.

You don't have to be Warren Buffett out the gate. You don't have to be that. Like, Warren Buffet didn't become Warren Buffett until 20 years, 30 years in. You know what I'm saying? So you gotta figure out who you are as a person, who you are as an investor that take you to that next level. Lesson two, wealth building strategies for long term wealth building through investments. Trapper teaches us that wealth isn't built overnight. It's about long term investments, understanding market trends and making informed decisions.

It's called fruit of a poisonous tree. So they kicked in my door, but they didn't have probable cause because they stopped me in my truck, didn't find nothing on me. So they went to my house, kicked the door in with no surgery on. So now everything you find is null and void. That's purpose, man. Cause that's not supposed to happen, right? I'm thinking for that all the time. And then. But that put me in a situation. Because now, even though it cost me $60,000 to beat that charge, I don't have no money.

So now I get into the robbing game. So now I start robbing dope dealers, right? Because an OG told me that a person who works a job every day, they not a part of this game. So they not fair game. You don't mess with them. But somebody who sells a nickel bag, he fair game. And so I started robbing dope dealers at the time. Cause I was like, yo, if you want, you can't call the police. If you won't see me, see me. I'm with it. And I got in a situation where I was good at it, me and my partner, God bless his soul, and then one day, I almost got killed.

And I go to my partner and I say, bro, I'm out. Like it's a done deal. But when they kick my door in the. Something happened. So they took my truck, they took my money, but they didn't mess with my stock account. It didn't freeze, it didn't. I said, hold up. They don't think I'm smart enough for this. So I said, okay, God, what do you want me to do? All I know how to do is be a hustler. And the voice from 1999 comes in my head and says, you're just playing the wrong game. I said, oh, okay.

Started working as an iron worker, building stadiums, building power plants. It's crazy. Cause I was making good money. $2,000 a week. That's good money to something like, yo, $2,000 a week, yo, that's it. 2000, 2500. It was amazing. I started saving and investing 70% of my money. God damn. I was living bare minimum. I was like, if I'm a change, I gotta make, like, the hard choices. It's hard for people to make sacrifice. Cause you gotta now go. Go against and do without some of the things that gives you that momentary gratification, that simple, that.

That's what keeps you alive, that's what keeps you going. Just to go on vacation one time a year to get these pair of shoes that may cost me $1,000, and I know I can't afford them, but I've worked so hard. I need that just to keep giving me something. And so I was like, okay. And once I started doing it, man, and I started showing my homeless in the street that it was a game changer. It changed my life. Were you showing them your portfolio? No, I was showing. Yeah, I was like, yo, look, I'm about to end this before Robin Hood even existed.

So I'm on e trade at the time, and I'm like, bro, check this out. And we go get. We go to the club, bruh, and we buy bottles. Hennessy, we buy Moet, we buy Louis Vuitton, we buy Fendi. Yo, we can own that. It was like, what? Like, yo, there's a stock called LVMH, Louis Vuitton, Moet, Hennessey. But you can get it on the market. It's lvmuy because it's in France. And it was like, what? I'm like, man, look, I'm like, listen, bro, we upgrade our iPhone every year. We can own Apple.

And so now we own Apple, we own ipod, bro. We were at Timberlands every day. Lesson three, mindset shift. Changing how you think about money is crucial. The Wall street trapper shows us that wealth starts in the mind. It's about seeing opportunities, not limitations. So the first mindset is saying, invest in your first stock. It don't have to be a winner. It doesn't have to be a home run. It can be an at and t stock that costs $26. Right now.

It may not be the best investment in the world, but you started right? And the great thing about anything is you can't be great if you never go to practice. You can't hit 81 if you never get in the gym. So just get in the gym and then find somebody who can teach you. Be dedicated to understand the process Warren Buffett said he reads 500 pages a day. That lets me know I got a whole lot more reading to do. I'm an audible book junkie right now because I'm trying to, because I can.

If he's the greatest investor and if he's reading 500 pages a day, I don't know how he does it. But in my mind, if he's still learning, I got a whole lot of learning to do. If somebody like Monash Pubrie and Guy Spivy can pay Warren Buffett a million dollars to have lunch with him, and these are already great investors who I look up to, if they can pay him a million dollars to go have lunch with him, that means they're trying to learn. Their learning has to go to the next level.

So if learning is the catalyst to everybody who's wealthy and successful, I can never be sufficient with what I know. And I think that has to happen, too. We have to understand the power in learning and being educated. Man, these lessons from the Wall street trapper are more than just financial tips. They're a blueprint for a better future.

Financial Education, Investment Strategies, Mindset Change, Finance, Entrepreneurship, Inspiration, Business Motiversity