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Want to live a stress-free financial life? One of my favorite movies has a 60-second lesson on how to do just that.
In 2014's "The Gambler," Mark Wahlberg is broke after gambling away $2.5 million. He goes to a loan shark, John Goodman, who delivers a speech about money that's absolutely epic.
Bottom line: "A wise man's life is based around (screw) you."
See if this resonates:
"You get up $2.5 million… you get a house with a 25-year roof… you put the rest into the system at 3%-5% to pay your taxes, and that's your base. That's your fortress of solitude. That puts you, for the rest of your life, at a level of (screw) you."
For sure, I operate from a position of "screw you." I have money in the bank, my house is paid off, and I'm self-employed. If I wanted to quit everything, I could quit.
If I'm putting up with people's crap, it's because I want to put up with people's crap. I don't need anybody for anything.
Here's Looking at You, Kid
On my radio show, I always say that your goal should be to live a stress-free financial life. The way to do that is from a position of screw you.
Humphrey Bogart was said to have kept $100 in his dresser drawer at all times. It was his screw-you money.
Instead of taking a part he didn't want, he could just say screw you. In his words…
"The only good reason to have money is this: so that you can tell any SOB in the world to go to hell."
It's your turn.
It's Time to Deal from a Position of "Screw You"
If you have a mortgage on your house, you are not dealing from a position of screw you. You're working for the bank.
If you have debt… you have a boss. Even if you're self-employed, the boss is the bank.
If you have debt on your car… you're not dealing from a position of screw you.
If you have a job at a company, if you work for a large organization… you're not dealing from a position of screw you.
If you are gambling like Mark Wahlberg and you are in over your head with loan sharks, you are also not dealing from a position of screw you. Capisce?
Take a Risk
Goodman's character didn't tell Wahlberg to not take risks. After all, America was founded on the position of "screw you."
Do I take risks? Absolutely.
In a couple of months, I'm not going to be dealing from a position of screw you. I'm taking out a loan to build a house. My goal is to pay that sucker off as fast as humanly possible because I don't like being in that position.