Investing in Yourself by Michael Ellsberg
How to Build a “Self-Amplifying Financial Eco-system” to Get Everything You Want in Life
Every one has different answers towards what we want in life. Some people want happiness, and believe that earning and spending money is the only way to create happiness.
However, there’s no correlation between money and happiness. Also, getting what you want in life relies on a mixture of resources that you bring into your life. And money is only one type of resources (and arguably the least important one).
Michael Ellsberg is the author of the bestselling book The Education of Millionaires and The Last Safe Investment. He introduces the concept of “Self-amplifying financial eco-system”, where you will learn all types of resources that would bring everything you want in life, and how those resources influence one another.
Here are the 9 resources that help you get everything you want in life:
- Social Relations
- Sexual Power
Before we jump into the details of the 9 resources, it would be useful to first define what is success. Micheal believes the definition of success is how little he needs to think about money. It’s always better to think about love, friends, arts, etc. In order to define your own success, it’s helpful to ask yourself, “What’s the greatest life I can live, with the least amount of money to get by?” If you really want to live a life full of the things that actually matter to you, you need to know how money fits in its place. Once you have the answer, it’s easier to reach to a point where you have enough money to do what you want to do in the world, without thinking adding zeros to your bank account.
It’s all about how you leverage the 9 resources to live an abundant, satisfying and amazing life, without chasing merely money blindsightedly.
Details of the 9 Resources in “Self-amplifying Financial Eco-system”
Below is the list of list of resources to getting what you want in life, and how they interconnect with one another:
- Gab: The skillsets to build social connections, where you know how to talk to people and find out what they want. Interconnectons: Gab helps you build social relations (point 2) and money (point 3), Brand/Reputation (Point 6), Sexual Power (Point 7).
- Social Relations: If you know the right people, you will always get what you want. Social Relations means you know the right people in life. Building relationships takes time and energy. Even though you want to know a lot of people, it’s useful to keep asking yourself, “Is this somebody I want to know for the rest of my life, and spend my life with?” If the answer is no, it might not be helpful to further invest time and energy. Interconnectons: Social Relations contributes to “Heart” (Point 3) because a lot of how we learn how to be is by the people around us. It also contributes to Sexual Power (Point 7).
- Money: Interconnectons: Money can help build Social Relations (Point 2), however, they are not solid relationships. A billionaire may have a super big pool party at his house, but he will realize none of them would be here if he isn’t throwing the party. Buying relationships is just an illusion. It may also help Brand/ Reputation (Point 6) or Sexual Power (Point 7), but again, you need other qualities to back up, otherwise it’s just fake. Anything resources that you gain from spending money doesn’t guarantee anything, especially when you don’t have Heart.
- Heart: You have an open heart and being caring. You can be vulnerable. People can trust you and build deep relationships. People like you. Interconnectons : “Heart” can contribute to Social Relationships (Point 2) and Sexual Power (Point 7). It also contributes to “Gab”, because you can communicate to people in a way where people can trust you and makes you a better “Gabber”.
- Art/Creativity: A sense of artistry and creativity. Interconnectons: It contributes to Money (Point 3) and Sexual Power (Point 7).
- Brand/Reputation: The sense and feeling people have before they meet you (online brand or word of mouth). Interconnectons: It contributes to Gab (Point 1), Social Relations (Point 2) and , Money (Point 3).
- Sexual Power: Your sexual radiant, seductiveness, attractiveness, and seductive energy. Interconnectons: It contributes to your art/creativity (Point 5), Gab (Point 1), Social Relations (Point 2).
- Wisdom: Knowing what is worth wanting. You gain wisdom by going through shits in life. Money doesn't help you gain wisdom. It also applies to finding friends- you want to know people who lived and went through shit, like serious illness or got heartbroken. The best investments are life experiences that will lead you to wisdom. Anything that puts you at your edge and is challenging (i.e. you are not sure if you can achieve it) usually brings wisdom, for example opening your heart in a relationship, going on an adventurous traveling, or trying to pull off a challenging side-hustle.
- Message/Mission/Purpose: Have a mission or purpose that resonates with others. It could be more important than money, because you will attract the money and followers you need.
Insights From the 9 Resources
- Nearly all the resources can contribute and influence one another, and help you get what you want in life. However, the one that has a less direct contribution to other resources is Money.
- Don’t try to trade individual resources for money. Instead amplify all the resources, then money would come.
- Constantly cycle your money through this whole system. Don’t invest money just to make money. Of course you need enough money to survive, but all the other resources you’ve developed could exchange into money when you need it.
- Combine different resources to create a massive impact on getting what you want. For example, combining Heart, Social relations and Purpose.
- Go invest a lot in Social Relations. Your network is your net worth. Use your money to travel and meet somebody, go on a trip with somebody, or buy a gift for somebody.
- Don’t use money to run away from the shit you’re feeling inside or your blindspots.
Exercise: Create Your Own “Self-amplifying Financial Eco-system”
- Draw a circle and put all the things you want into it. Maybe a big house, great relationship, or certain type of experiences etc.
- Write down the 9 resources, surrounding the circle above.
- Think about where each resources’ bottleneck is for you. Rich people usually have bottleneck’s in Heart, Sexual Power, Message, Gab. Psychotherapy and others can help you find your blindspot or bottlenecks. On spotting bottlenecks in relationships, get feedback from women about how you’re showing up to them. Ask them what about you is putting them off, or what they find attractive.
- Invest time and money in all 9 resources in order to develop them. But investing time and energy is more important than money.
Disclaimer: The content is based on the Society Videos- Phase 5 Building Wealth- Module 25.2- Investing In Yourself