How Do Millionaires Attract Wealth? Luke Belmar Says ‘Stop Being a Hustler, Start Being a Boss’

ismagilov / iStock.comInternet personality, investor, entrepreneur and millionaire Luke Belmar is known for his outspoken, no-nonsense financial and lifestyle tips. In a recent YouTube video, he declared, “I don’t chase [money] – I attract.” But how does he do this?I’m a Financial Advisor: 7 Ways People Become Poor in Their Later YearsSee More: How To Get Cash Back on Your Everyday PurchasesHe’s not shy about sharing his secrets and has even launched The Capital Club, a digital, invitation-only community of more than 15,000 entrepreneurs.In his recent YouTube video on his CapitalClubCommunity challenge, he said that most people focus on the output – how to make $1 million – rather than the input, which is what they can control. The question to ask, he said, is, “How can you, today, pick up a d*** book that teaches you what the history of money is? This thing you’re pursuing, you don’t even know what it is.”On his website, Belmar recommended several titles worth reading, ranging from Sun Tzu’s Art of War to The Millionaire Master Plan by Roger James Hamilton and even “Bitcoin: A Peer-to-Peer Electronic Cash System” by Satoshi Nakamoto. This white paper introduced cryptocurrency to the world.So far, Belmar has earned his wealth, estimated at $10 million, through business and investments that included dropshipping, e-commerce, NFT, and crypto.Touting the advantages of investing, he said in the video, “You think I’m going to work a decade hustling, thinking I’m productive, for 1.2 million when I can make that in a trade by understanding how the world works?”He advised business owners he called “hustlers,” who find themselves not running their business but letting their business run them. “Most people will spend the money they make during their hustle period… on themselves, trying to act and pretend that their bosses.”Belmar said, “The boss reinvests that hustle money into the business to create sustainability. And then, in the sustainability, there is where you splurge… Stop being a hustler, start being a boss.”Story continuesAt this point in the video, Belmar has started to sound like another well-known financial guru and YouTube personality, Jaspreet Singh. On his channel, Minority Mindset, Sing often advises people to put off purchases like designer clothes and fancy cars so they can invest a portion of their income. Once their money works for them, they can use that passive income to treat themselves.Belmar broke it down by the numbers for viewers. He explained that a business earning $20,000 in net profit may have $10,000 left after taxes and expenses. “What’s that after a decade?” he asked viewers. “$1.2 million.”On the other hand, if you invest that money, you can reap the rewards of passive income that is exponentially greater. “By understanding how the market flows, the ebbs and flows of currencies, the new currencies that are popping up, I’m positioning myself for a $100 million payout, not a $1.2 million payout over ten years,” Belmar said.Belmar, who eats a primarily carnivore diet, abstains from alcohol and works out “moderately,” according to his website, also emphasized other aspects of life that are more important than money. “Your happiness can’t be attached to a number because as soon as you achieve it, you will want more… There is no amount of money that you can put into good health, good relationships, and peace of mind and peace of heart. It can’t be bought. It can’t be sold. It’s in the balance where you find purpose, tranquility, and peace.”More From GOBankingRatesThis article originally appeared on GOBankingRates.com: How Do Millionaires Attract Wealth? Luke Belmar Says ‘Stop Being a Hustler, Start Being a Boss’

https://finance.yahoo.com/news/millionaires-attract-wealth-luke-belmar-150024099.html

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