“When you don’t think you deserve something, you work really hard to get rid of it” resonated deeply with me with respect to my chronic self-sabotaging. Gives me pause and perspective on what it is that I need to heal.
I love you! I needed to hear this. Game changer for my life right now. Thank you. Thank you Phil. Phil if you won it once you can do it again. Just don't tell anyone except your wife.❤
Yes. I would invest 90% into the market, money market account, IRA and 10% would go into my checking/savings. That savings would not be touched and I would only used the checking for groceries, gas, repairs, etc. Blowing almost $1 million on cars and cruises for his extended family would keep you working at the barber shop out of necessity!
I wouldn`t speak that way. If you have empty than you should figure out why you are empty? Identify the cause and do not try to replace it with something else because a unhealed wound will always be deep in your subconcioussnes.
So true kathygarcia, the same thing our prophet Muhammad phub said, if allah gave two mountains of wealth to the sons of Adam (Us human beings) , they still want the third 😐
My neighbor needs to go on some finance podcast or interview. He never made more than 70k a year as a mechanic at a high end sports car shop. But he always put 50$ in retirement away since he was very young, and more overtime. His wife worked at raytheon and retired with pension and also saved. They drive normal cars, paul wears normal clothes as older man. Always out cleaning his pick up or doing something to his yard. Always comes over to see what my husband is up to.
That's crazy. My barber about 30 years won the lottery too. He carried on working then gave the barber shop to his son and bought a a couple of local pubs and put his Italian twist to them with the food. He still works like a trojan at 71yo.
Been struggling been in the mud. Came across your channel and it really helped. Not everything but some shit hit like a middle linebacker. Just want to say thanks
It's all about the perspective. The barber loves his family more than the money. That's great too. Atleast his people got to enjoy the moment for a while.
That’s why slow growth is so crucial. That’s why putting yourself in the fire for years on end is so crucial. It’s so that when the money finally does come, it stays becuase you know in your heart that you earned it.
When I was a kid, everyone who won the lottery went broke. They thought they were rich. My father always said a million dollars was just enough money to get in trouble.
Literally all I had to do was wait two years and then just the interest alone would’ve been over $200,000, then taking a vacation but people aren’t that patient so they chase poverty real quick
@@AzolaSibabaliweYou'd earn about $127k at 6% interest, compounded monthly. High risk or business assets could out-perform that, but 200 K over two years is about 9.15% interest
Nope. Thats not love. Thats indulging. Buying everyone in the family brand new expensive cars is not love. When you only have a miliion. It is stupid, unnecessary and poor spending decision
@@juaralampung6671having reliable transportation is the difference between surviving and not surviving in some places. Paying off a house or two and buying a few cars is not indulging. It’s ensuring that people have a way of taking care of themselves. That’s not stupid at all.
@@Agressivemap1233It is absolutely indulging. It’s not ensuring anything. Only self-entitled ppl think that way. Giving anything freely, when most kids have to work hard to earn their own cars, is very foolish. They will not learn how to be highly self-sufficient & how to survive on their own. Mommy & daddy are not going to be alive forever. What if they died tomorrow? How would those kids learn to take care of themselves? I gave up things for free, including, a good as new car freely to someone that worked for me, because I thought they were struggling & deserved it & was hardworking. But they turned out to be deplorable, ungrateful & later betrayed me. It was a huge mistake that I learned. Even if I could afford it, I will never ever make that mistake again. I have tons of relatives who ask me for money, but do nothing to show me they deserve it, not even show respect. They just assume because I’m their relative & wealthier than them, that I owe them something. Hell no. I use to reprimand wealthy folks who refused to give up too much money to their children & grandchildren. Now I understand why they refuse to indulge their offspring.
Told this to one of my students recently. People find it hard to understand that they could have beliefs that keep them from achieving their own dreams.
The barber did what makes him happy with his lottery winnings. He expressed his love for his family and he will have those memories forever. Each person would do something different with a million dollars. My only hope is that he invested a chunk of it to have a residual income for life because we always need money.
Someone said a million dollars isn't enough to quit your job. If you make 50,000 a year, it will take you 20 years to make a million dollars. It's definitely enough to quit, you just can't handle 20 years of your life getting handed to you at one time.
Some people also don’t take into account the immediate 50% of taxes the state takes back from your winnings. Half a million bucks is definitely a ton of money, but if you buy a bunch of cars and take your EXTENDED family on an expensive cruise, you ain’t got much left.
It is not that you think you don't deserve money. The problem is spending it so fast on everyone,going on trips vacations. You have to be wise not stupid .
@dodgeman4360 my father has created many Lottery systems for multiple states in the US I'm pretty sure that Scientific Games knows what they're talking about when they give statistics and I'm pretty sure you don't have a freaking clue what you're talking about
1M would immediately go into an investment fund. I would work for the next 1-2 years as if nothing had changed. Pay off mortgage & debt with the earned interest, then find a way to retire and live off the interest.
@@curtism-w6b depends on the investment, but given current other investments I'd figure 6-10% return. With no debt/mortgage 60k-100k interest per year is definitely livable
A Millie ain’t gunna be enough to pay off the mortgage and still generate enough interest to live off of. Add a bad year in the market and your really f’ed
Sometimes it really is a bit deeper than this. This is that surface level comment that’s easy to toss around when hearing stories like this. However, some people truly have deeply rooted issues that are the true cause. Because of those deep rooted issues, people may never learn the art of money management (i.e. investing, giving your money a job, etc.)…because they can’t break free from the underlying strongholds (that show up in the way he actually mentioned and in other ways). So, it really does take MORE than learning how to manage money if you don’t know to keep money in order TO manage it. Self sabotage is not always intentional. However, it can be instinctive (automatically responding in a certain/specific way in certain situations).
@@kimberzworldPoverty is like a disease, and having gone through it either pushes you to give up or learn like your life depends on it. It's possible he was just really passive and let his family abuse it, or maybe he felt like it was his chance to be a better provider. Possibly the guilt from giving up on a better life for his family pushed him to be impulsive to their benefit in the short term. He also has a consumer mindset, which is why it fell through his fingers. I'm not sure he can learn to be a focused producer, he didn't invest in his career or use it as an opportunity to create anything so its ok that he doesn't have it.
If I ever won the lottery, Megan Trainor will be on repeat "my name is NO, my number is NO, the answer is NO". I won the lottery, not you. I will move to another state and change my number. This is for building wealth for future generations of my family, not quick and easy life for people I barely talk to anyway.
If that was his goal then he won. But if he wanted the money to make a lasting positive change to his life or elevate his life, then he lost. 1 million won't do what he did AND elevate his life in a lasting way.
For sure a mill doesnt go far its easy to run through especially when you are generous and you want it to 'share' it with all your loved ones. Most of us have a good idea what to do with a million dollars its barely enough for set one person up for life, so you have to plan it out to bless all those you love.
Plus after taxes and lump sum he would probably be lucky to get 450K That's nothing or tons. I'm super chesp(make just under 50K & manage to invest over 50% of my gross(no debt, no subscriptions, no car pmt, etc) so for me an injection of 450k I pretend I never got except for a nice vacation then I'm retiring early than planned. After 10 years of it invested that 450k is life changing. Or it's 2/3's the price of a 3 bedroom 2 bath home in my town. 450k nothing. All about choices. I know what I'd choose.
He's absolutely right, a million dollars lottery winnings do not go that far, there's a 47% federal tax on unearned income. There are a lot of people who erroneously think that if you have a million dollars you can quit your job, it ain't so.
That doesn’t make them a good person. It makes them a f00L in the long-run. That barber wasted & lost all that money on others. He should’ve saved & invested for himself. His kids can work to earn their own cars & his relatives can buy their own trips.
facts .... bob proctor once said along the lines..... if you become a millionaire you best start thinking like a millionaire or your lose it always stuck with me ..... just waiting to get the million now the mindset there 😂😂😂
The problem is in his generosity, not that 1mill isnt big bag money wich it is. 10k is big money if its used right. Its just that people are broken, sticking to kind people like leeches
It’s just that most people are financially illiterate which is why they work their entire lives and retire on social insecurity. Had he invested it he could’ve kept cutting hair and retired in 5-7 years when the money would’ve likely doubled depending on the time period. He could then keep it invested and live on a small percentage of the portfolio. This is how I’m retiring at 40.
bro!!! With 1 million dollar most people are thinking of retirement bro! If i didn’t know how! i would run to a bunch of successful friends. Like Dan Martel for advice, find out what advice makes me the most ROI in a shorter time, and grow this beast. No more cutting hair 4me
i could open 3 more barbershops, which wouldn't generate $1 million a month/roughly 100,000 per month profit! instead, I’d invest in creating high-quality online content showcasing our haircut techniques and our products. And I’d sell to 1k customers a $1K course for new and advanced barbers, plus anyone interested in cutting their own hair. With a strong online presence, I’d launch a BRANDED dropshipping Store for barbers and any customer with hair, offering a $59 subscription for essential hair products like shampoo, trimmer replacements, and cleaning supplies... Targeting only 17,000 recurring customers for 1 mil a month. Just by posting video of my barbers cutting hair and having fun. So sad for this guy!!
I think that st a certain point in your life you just get so settled in your life that you don’t want a big change. Maybe he was already happy before he won the lottery and the money was just an added bonus on top. Not everyone is looking to start over or invest they just want to be happy in the moment.
Phil is a loving guy and he shared his money. He could have invested it and been fine but he shared it and to me that is worth everything. Wise up people, you can’t escape life. Money is only worth something in this world, not the next
It is absolutely unwise to share like that. It can end up backfiring on you in a big way. There’s a reason why certain wealthy folks refuse to give up too much money to their own children & grandchildren. People in the end will never accomplish much out of it & will expect more & more from you. In the long-run it does no good. Ppl have to learn to invest in themselves for their long-term survival. Others need to learn to be self-sufficient & earn what they get, including their own cars & trips.
I absolutely disagree. He just wasted his money just for a moment instead of investing the money and enjoy the money for more time. It's just dumb. It's good to enjoy life, but only after you actually do the needed work.
@@yepyepmusic life isn’t about money, it’s your soul at stake. When you’re in front of the big man reviewing your life, do you think you will be praised for all of the people you didn’t help when you had excess? Your cup was overflowing with a blessing and you didn’t help one person? Sure, you do you man. I’m not saying he couldn’t have invested it and created more wealth to share with people. When you have excess, you share and help others otherwise you’re not a good person period. What I’m saying is, the world would be better off without you
If he won $1 million, he had to pay taxes, so he probably netted $600,000. Then he bought new cars for immediate family ($200,000) and a cruise for the extended family ($50,000) leaving him with about $350,000. That's a nice sum of money, but sadly a far cry from being a millionaire and able to retire early. However, I love how he celebrated with extended family. That was a generous and fun way to include everyone in his good luck.
I’ve already learnt this. First thing I’m doing is getting a house then paying off my car. Then putting some away that I can’t touch until 5 years time. Then investing in a barber shop and renting the chairs (because I like the professional then learning how to cut hair).
To start: 1. Sign the back of the ticket 2. Be careful who you tell have your attorney pick up the check if you don’t need to be present 3. Hire a Tax Attorney 4. Hire a Financial Advisor 5. Create a Spending and Investing Plan and estate tax plan
@@liveletlive0regrets: 😊definitely, be careful who you tell. In turn becomes the hardest part. Because you want to celebrate. 🎉 Be careful who you choose as your accountant and or tax advisor. If all possible. Allow no one access to your accounts. If all possible… Go somewhere and THINK & PLAN with Great guidance.
Actually don't sign it. If you sign it and want to remain anonymous, its next to impossible because your name is not anonymous. First is take as many pictures with it. Upload them to a cloud or many Internet clouds if possible. Keep it in a safe or somewhere safe. Contact a legal team that can help, they will advise you how to go about it depending on your state laws.
I can’t believe that people don’t know how valuable money Truly is $1 million can turn into tens of millions and that can turn into billions. You guys think education is your ticket to your future but having capital means you can invest into anything and become your own boss and generate passive income that man could’ve been living the life if you use that million dollars or even hundred thousand for business.
I think that is what is wrong with me. I have suffered a lot of emotional abuse revolving around my money. This explained everything about me in one video. I spend all my money but I literally feel bad about myself all the time. So far when I struggle I haven’t gotten enough help. And it’s simple things I never ask too much of people sometimes I ask nothing from people even when I just need to be listened to.
So I have been breadcrumbed when it comes to finances. Basically I have an equivalent to a masters degree in business. I am doing well in some ways. I just bought my dad’s 1990 z71 but I live like a poor person and I hardly have enough cash on me I have brought my resume to about 40 or more jobs and I am still struggling. People make me feel bad all the time about my accomplishments and since I did the work for my diploma( triple major in art business and psychology) I have yet to get a lot of social recognition all of these majors involves a lot of social interaction to succeed and I basically get treated like I didn’t do any work. Like they demote me before I even get a chance. I have been humbled in like four towns. That happens to a lot of millionaires weather they earn it or not. But the difference between me and them is that I actually trained myself to think like a billionaire. The writing I did I know ( since I’m not an actual idiot) is actually capable of making a few billion dollars and to be a book and movie) ( I know what I am capable of, I have got to get with my real friends but put myself to the test as I trained for. You see these people in society. Some of them are so ridiculous that they really are like crabs in a bucket and want their friends to fail or not do better than them. I am the kind of person that wants people to be at their absolute best version of themselves but I am kind. Imagine trying to get someone to be their best with just kindness and courage like that little Cinderella princess. I didn’t used to think I was like a princess like her but I do talk to mice and animals. Aside from the meaning I am a writer what if I deserve a Prince Charming and happily ever after. I do dream of castles. Do I deserve it I actually do. And will I have the wealth. I will. Do I. Yes I do! Who am I? An undercover billionaire.
A million dollars you can’t even retire comfortable without using up the base amount, it’ll get you out of any bad debt, and help you get a bit closer to retirement, that’s about it.
Plot twist… he just told everyone this so that no one ever asked him for money
Smart man people will not bother you if they think your broke. 😂😂😂😂
and his family wont call bs. they will happily say it was a great cruise.
Only if he wrote the book, "The Wealthy Barber".
Both is true 😂😂😂
let's hope
“When you don’t think you deserve something, you work really hard to get rid of it” resonated deeply with me with respect to my chronic self-sabotaging. Gives me pause and perspective on what it is that I need to heal.
Just went through a half year circle of that again. Getting better now and this quote just made me aware on what I was doing
You took the words right out of my mouth. I'm sitting in the same place. This really hit hard. Best of luck to you on your journey.
I can totally relate
Same
Same for me. Its the first time i heard of this. Maybe there is hope
" when u think you don't deserve something ,you work really hard to get rid of it" uff 🥵
Big words
I love this so much. People need to understand this big time.
I love you! I needed to hear this. Game changer for my life right now. Thank you.
Thank you Phil. Phil if you won it once
you can do it again. Just don't tell anyone
except your wife.❤
I would have invested most of it. I don’t make much but I know the value of a dollar. I want my money to work for me.
Every seven years that money will double in the s&p 500
Yes. I would invest 90% into the market, money market account, IRA and 10% would go into my checking/savings. That savings would not be touched and I would only used the checking for groceries, gas, repairs, etc. Blowing almost $1 million on cars and cruises for his extended family would keep you working at the barber shop out of necessity!
@@matthill2957stop the lies. S&p 500’s haven’t made money in 2 years and have gone down 3% in the past year. Horrible investment in 2024
No amount of money can fill your emptiness in your soul ❤
I wouldn`t speak that way. If you have empty than you should figure out why you are empty? Identify the cause and do not try to replace it with something else because a unhealed wound will always be deep in your subconcioussnes.
So true kathygarcia, the same thing our prophet Muhammad phub said, if allah gave two mountains of wealth to the sons of Adam (Us human beings) , they still want the third 😐
And been without a dollar will??
A billion sure can
My neighbor needs to go on some finance podcast or interview. He never made more than 70k a year as a mechanic at a high end sports car shop. But he always put 50$ in retirement away since he was very young, and more overtime. His wife worked at raytheon and retired with pension and also saved. They drive normal cars, paul wears normal clothes as older man. Always out cleaning his pick up or doing something to his yard. Always comes over to see what my husband is up to.
That last quote really resonates with me. Gave me goosebumps
same....
Of course it would, Sito.
Truth
That's crazy. My barber about 30 years won the lottery too. He carried on working then gave the barber shop to his son and bought a a couple of local pubs and put his Italian twist to them with the food. He still works like a trojan at 71yo.
This concept is sooo applicable to relationships
Been struggling been in the mud. Came across your channel and it really helped. Not everything but some shit hit like a middle linebacker. Just want to say thanks
What are you doing now and how much do you make? I'm doing fast food rn looking for a trade.
Guys, it’s the hard truth; $1,000,000 isn’t enough to quit your job.
It is if you're careful with it. Buy a small $200k 2 bedroom house 1 new car and put the rest into a Roth Ira.
I know people who survive on alot less than that off grid. Lifestyle and spending habits are your problem bro.
@@skArpPT$200,000 won't buy you a decent 2-bedroom house in Australia.😮😂
Get about half for a lump sum, then that's taxed in half. He was lucky if he had $300k.
....And is barely enough to fund one's retirement.
That’s definitely me I never feel I deserve anything so I push it away
What a sense of relief knowing this.
He has a point, I guess it depends on your attitude to money and wealth too.
Money is a useful tool or a dead weight depending on our approach to it
It's all about the perspective. The barber loves his family more than the money. That's great too. Atleast his people got to enjoy the moment for a while.
I needed to hear this. Thank you
I needed to hear this.
Financial stability starts with the right mindset.
That last sentence hits hard... I'm officially using that quote in my daily life
That’s why slow growth is so crucial. That’s why putting yourself in the fire for years on end is so crucial. It’s so that when the money finally does come, it stays becuase you know in your heart that you earned it.
🔥
Agree. Basically barber did not know how the money works? And that’s important.
When I was a kid, everyone who won the lottery went broke. They thought they were rich. My father always said a million dollars was just enough money to get in trouble.
This cleared so much for me.
Literally all I had to do was wait two years and then just the interest alone would’ve been over $200,000, then taking a vacation but people aren’t that patient so they chase poverty real quick
As in invest all the million dollar for 2years??😂
@@AzolaSibabaliweYou'd earn about $127k at 6% interest, compounded monthly. High risk or business assets could out-perform that, but 200 K over two years is about 9.15% interest
At a conservative safe 6 percent, that's 120 k plus compounding. 200k???.
Buy gold, invest in s&p 500, spend the other 1/3
When you're not used to having a lot of money a million dollars does look big.
"When you don't believe you deserve something, you work really hard to get rid of it."
Yup. 100% agree.
Sounds like he loved all of his family members and took care of everyone by putting them first! That’s what he wanted to do!
Nope. Thats not love. Thats indulging. Buying everyone in the family brand new expensive cars is not love. When you only have a miliion. It is stupid, unnecessary and poor spending decision
@@juaralampung6671exactly rubymoon is restarted
@@juaralampung6671having reliable transportation is the difference between surviving and not surviving in some places. Paying off a house or two and buying a few cars is not indulging. It’s ensuring that people have a way of taking care of themselves. That’s not stupid at all.
@@Agressivemap1233It is absolutely indulging. It’s not ensuring anything. Only self-entitled ppl think that way. Giving anything freely, when most kids have to work hard to earn their own cars, is very foolish. They will not learn how to be highly self-sufficient & how to survive on their own. Mommy & daddy are not going to be alive forever. What if they died tomorrow? How would those kids learn to take care of themselves? I gave up things for free, including, a good as new car freely to someone that worked for me, because I thought they were struggling & deserved it & was hardworking. But they turned out to be deplorable, ungrateful & later betrayed me. It was a huge mistake that I learned. Even if I could afford it, I will never ever make that mistake again. I have tons of relatives who ask me for money, but do nothing to show me they deserve it, not even show respect. They just assume because I’m their relative & wealthier than them, that I owe them something. Hell no. I use to reprimand wealthy folks who refused to give up too much money to their children & grandchildren. Now I understand why they refuse to indulge their offspring.
@@juaralampung6671💯Totally agree.
Your hair looks sharp brother ❤
That last line was powerful 👏🏾
Women do this with good men I've seen my sister do it they sabotage themselves for some weird reason
This was an awesome shift of perspective for me, thank you
Told this to one of my students recently. People find it hard to understand that they could have beliefs that keep them from achieving their own dreams.
Plot twist: Dan making up stories like all these otherotivational speakers who claim they are millionaires, 🤦🏻♂️🤦🏻♂️🤦🏻♂️🤦🏻♂️🤦🏻♂️💀💀💀💀
I did this exact same thing. I didn't feel like I deserved it and money didn't change me but, almost all the people around me changed.
Thats very true. Its all about mindset
Ooooh😗 this one hit me in the feels
That's deep 😢❤
So true. The emotion of lack that people get addicted to.
The barber did what makes him happy with his lottery winnings. He expressed his love for his family and he will have those memories forever. Each person would do something different with a million dollars. My only hope is that he invested a chunk of it to have a residual income for life because we always need money.
Unfortunately, it sounds like he squandered it, which is very common.
Funny how the whole extended family comes out of the woodwork if there's money involved..
Things that never happened for $500, Alex.
I thought he's gonna say I love my work so much I just need to do it even though I'm well off with the interest on my investments 😅😂😅
Barbers get satisfaction out of making anyone look good with a hair cut 😊
He loves what he does. Simply put.
his first mistake was to let a random guy know he won the lottery
So true, happened to me and people i know. Wise wordsm
Incorrect lesson, he thought spending money would make him happy and realised too late that happiness comes from within
Broo, that last line😮
Someone said a million dollars isn't enough to quit your job. If you make 50,000 a year, it will take you 20 years to make a million dollars. It's definitely enough to quit, you just can't handle 20 years of your life getting handed to you at one time.
Some people also don’t take into account the immediate 50% of taxes the state takes back from your winnings. Half a million bucks is definitely a ton of money, but if you buy a bunch of cars and take your EXTENDED family on an expensive cruise, you ain’t got much left.
@@sarcophage you guys pay tax on winnings in america? thats wild
I’m gonna go with like 95% odds that homie still has every cent of the million 😂💀
It is not that you think you don't deserve money. The problem is spending it so fast on everyone,going on trips vacations. You have to be wise not stupid .
Most people don't understand how money and debt work I think 80% of lottery winners lose the money in the first 5 years
Actually that has been proven false.
@dodgeman4360 my father has created many Lottery systems for multiple states in the US I'm pretty sure that Scientific Games knows what they're talking about when they give statistics and I'm pretty sure you don't have a freaking clue what you're talking about
Your conclusion is so perfectly true. 👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻😁
Needed to see this right at this time. Thank you🙏
“If I would known better”
“A Million Bucks doesn’t go that far”
1M would immediately go into an investment fund. I would work for the next 1-2 years as if nothing had changed. Pay off mortgage & debt with the earned interest, then find a way to retire and live off the interest.
How much interest are you expecting off a million?
@@curtism-w6b depends on the investment, but given current other investments I'd figure 6-10% return. With no debt/mortgage 60k-100k interest per year is definitely livable
Hmmm get interest then clear morgage, smart actually
Excellent plan.
A Millie ain’t gunna be enough to pay off the mortgage and still generate enough interest to live off of. Add a bad year in the market and your really f’ed
When you hear someone talk about mindset, red flags should go up 🙄
Actually, mindset is everything in many ways.
what ?😂💀
A free great trip with your family is priceless.
It's priceless until the family is complaining about every little thing on the trip. You wonder why you even try.
If you win a million, you still have to pay taxes on it.
$1MM goes quick. After taxes it's less. Id invest it and work like i never won anything.
Classic story of people who don't know how to manage money, you hear and see this story all the time
Sometimes it really is a bit deeper than this. This is that surface level comment that’s easy to toss around when hearing stories like this. However, some people truly have deeply rooted issues that are the true cause. Because of those deep rooted issues, people may never learn the art of money management (i.e. investing, giving your money a job, etc.)…because they can’t break free from the underlying strongholds (that show up in the way he actually mentioned and in other ways). So, it really does take MORE than learning how to manage money if you don’t know to keep money in order TO manage it. Self sabotage is not always intentional. However, it can be instinctive (automatically responding in a certain/specific way in certain situations).
@@kimberzworldPoverty is like a disease, and having gone through it either pushes you to give up or learn like your life depends on it. It's possible he was just really passive and let his family abuse it, or maybe he felt like it was his chance to be a better provider. Possibly the guilt from giving up on a better life for his family pushed him to be impulsive to their benefit in the short term. He also has a consumer mindset, which is why it fell through his fingers. I'm not sure he can learn to be a focused producer, he didn't invest in his career or use it as an opportunity to create anything so its ok that he doesn't have it.
If I ever won the lottery, Megan Trainor will be on repeat "my name is NO, my number is NO, the answer is NO". I won the lottery, not you. I will move to another state and change my number. This is for building wealth for future generations of my family, not quick and easy life for people I barely talk to anyway.
Wow real story so heart warming
Nobody can believe the guy was just selfless and wanting to see his family have a good time and have safe, reliable vehicles
If that was his goal then he won. But if he wanted the money to make a lasting positive change to his life or elevate his life, then he lost. 1 million won't do what he did AND elevate his life in a lasting way.
Sometimes being “selfless” & generous can end up being a huge backlash against you.
That last words... Damn bro... That hit
It’s funny how he says he felt he didn’t deserve the money, but he sure did feel like he deserved the brand new cars in the expensive cruise😂
For sure a mill doesnt go far
its easy to run through especially when you are generous and you want it to 'share' it with all your loved ones.
Most of us have a good idea what to do with a million dollars its barely enough for set one person up for life, so you have to plan it out to bless all those you love.
Plus after taxes and lump sum he would probably be lucky to get 450K
That's nothing or tons. I'm super chesp(make just under 50K & manage to invest over 50% of my gross(no debt, no subscriptions, no car pmt, etc) so for me an injection of 450k I pretend I never got except for a nice vacation then I'm retiring early than planned. After 10 years of it invested that 450k is life changing. Or it's 2/3's the price of a 3 bedroom 2 bath home in my town. 450k nothing. All about choices. I know what I'd choose.
"A million bucks doesn't go that far"
Jim Rohn says if you find a million dollars, you better BECOME a millionaire or else you'll lose it just as fast.
He's absolutely right, a million dollars lottery winnings do not go that far, there's a 47% federal tax on unearned income. There are a lot of people who erroneously think that if you have a million dollars you can quit your job, it ain't so.
And having that midset. Is what makes someone a good person.
That doesn’t make them a good person. It makes them a f00L in the long-run. That barber wasted & lost all that money on others. He should’ve saved & invested for himself. His kids can work to earn their own cars & his relatives can buy their own trips.
There will always be a person like his barber. Won a million bucks and went spending it causing even more expenses for everyone😂
Its a win win dan got a content to talk about while phil is watching this video and laughing 😂😅😂
That escalated quickly
facts .... bob proctor once said along the lines..... if you become a millionaire you best start thinking like a millionaire or your lose it always stuck with me ..... just waiting to get the million now the mindset there 😂😂😂
What people should do when they win a lottery is - not quit your job and not use your money. The money should be used for security, not wasted.
“Short” of the month. ❤
Buying Love .. that’s what that’s all about…
The problem is in his generosity, not that 1mill isnt big bag money wich it is. 10k is big money if its used right. Its just that people are broken, sticking to kind people like leeches
Whoah.
Christian watching this.
Christians will understand ❤ man...God loves you. He Loves you!
It’s just that most people are financially illiterate which is why they work their entire lives and retire on social insecurity. Had he invested it he could’ve kept cutting hair and retired in 5-7 years when the money would’ve likely doubled depending on the time period. He could then keep it invested and live on a small percentage of the portfolio. This is how I’m retiring at 40.
bro!!! With 1 million dollar most people are thinking of retirement bro! If i didn’t know how! i would run to a bunch of successful friends. Like Dan Martel for advice, find out what advice makes me the most ROI in a shorter time, and grow this beast. No more cutting hair 4me
i could open 3 more barbershops, which wouldn't generate $1 million a month/roughly 100,000 per month profit! instead, I’d invest in creating high-quality online content showcasing our haircut techniques and our products. And I’d sell to 1k customers a $1K course for new and advanced barbers, plus anyone interested in cutting their own hair. With a strong online presence, I’d launch a BRANDED dropshipping Store for barbers and any customer with hair, offering a $59 subscription for essential hair products like shampoo, trimmer replacements, and cleaning supplies... Targeting only 17,000 recurring customers for 1 mil a month. Just by posting video of my barbers cutting hair and having fun. So sad for this guy!!
I think that st a certain point in your life you just get so settled in your life that you don’t want a big change. Maybe he was already happy before he won the lottery and the money was just an added bonus on top. Not everyone is looking to start over or invest they just want to be happy in the moment.
then why play
A million today isn’t the same as 50 years ago or even 20. I’d still work too.
He should have took that million dollars and turned it into 2 million 2 million into four four into eight eight into 16 and so on and so on.
Don’t stop brother😂
Most people don't know that there are seeds in every dollar bill to grow money trees
Phil is a loving guy and he shared his money. He could have invested it and been fine but he shared it and to me that is worth everything. Wise up people, you can’t escape life. Money is only worth something in this world, not the next
It is absolutely unwise to share like that. It can end up backfiring on you in a big way. There’s a reason why certain wealthy folks refuse to give up too much money to their own children & grandchildren. People in the end will never accomplish much out of it & will expect more & more from you. In the long-run it does no good. Ppl have to learn to invest in themselves for their long-term survival. Others need to learn to be self-sufficient & earn what they get, including their own cars & trips.
I absolutely disagree. He just wasted his money just for a moment instead of investing the money and enjoy the money for more time.
It's just dumb.
It's good to enjoy life, but only after you actually do the needed work.
@@yepyepmusic life isn’t about money, it’s your soul at stake. When you’re in front of the big man reviewing your life, do you think you will be praised for all of the people you didn’t help when you had excess? Your cup was overflowing with a blessing and you didn’t help one person? Sure, you do you man. I’m not saying he couldn’t have invested it and created more wealth to share with people. When you have excess, you share and help others otherwise you’re not a good person period. What I’m saying is, the world would be better off without you
If he won $1 million, he had to pay taxes, so he probably netted $600,000. Then he bought new cars for immediate family ($200,000) and a cruise for the extended family ($50,000) leaving him with about $350,000. That's a nice sum of money, but sadly a far cry from being a millionaire and able to retire early. However, I love how he celebrated with extended family. That was a generous and fun way to include everyone in his good luck.
The barber is smart to dismiss this guy
Should’ve ditched the wife and the kids after winning $1M.
That last line....😢😮
He did zero investments 👍
It Humbled us
When you don't believe you deserve something you work really hard to get rid of if.
I’ve already learnt this. First thing I’m doing is getting a house then paying off my car. Then putting some away that I can’t touch until 5 years time. Then investing in a barber shop and renting the chairs (because I like the professional then learning how to cut hair).
To start: 1. Sign the back of the ticket 2. Be careful who you tell have your attorney pick up the check if you don’t need to be present 3. Hire a Tax Attorney 4. Hire a Financial Advisor 5. Create a Spending and Investing Plan and estate tax plan
@@liveletlive0regrets: 😊definitely, be careful who you tell. In turn becomes the hardest part. Because you want to celebrate. 🎉 Be careful who you choose as your accountant and or tax advisor. If all possible. Allow no one access to your accounts. If all possible… Go somewhere and THINK & PLAN with Great guidance.
Actually don't sign it. If you sign it and want to remain anonymous, its next to impossible because your name is not anonymous. First is take as many pictures with it. Upload them to a cloud or many Internet clouds if possible. Keep it in a safe or somewhere safe. Contact a legal team that can help, they will advise you how to go about it depending on your state laws.
lol and what? have 300k left after you pay your lawyer, the tax lawyer, Uncle Sam.
Nah, that barber already invest in stock, real estate, new locations for barbershops😂😂😂 he said that to avoid money hunger people😂😂😂
I can’t believe that people don’t know how valuable money Truly is $1 million can turn into tens of millions and that can turn into billions. You guys think education is your ticket to your future but having capital means you can invest into anything and become your own boss and generate passive income that man could’ve been living the life if you use that million dollars or even hundred thousand for business.
@@rayanhuss5952 1 Mill couldn't turn into billions unless you do really well on crypto.
Honestly the biggest mistake a lottery winner ever does is let people around them know they've won it. People bleed you dry. Family worst of all. 😂
I think that is what is wrong with me. I have suffered a lot of emotional abuse revolving around my money. This explained everything about me in one video. I spend all my money but I literally feel bad about myself all the time. So far when I struggle I haven’t gotten enough help. And it’s simple things I never ask too much of people sometimes I ask nothing from people even when I just need to be listened to.
So I have been breadcrumbed when it comes to finances. Basically I have an equivalent to a masters degree in business. I am doing well in some ways. I just bought my dad’s 1990 z71 but I live like a poor person and I hardly have enough cash on me I have brought my resume to about 40 or more jobs and I am still struggling. People make me feel bad all the time about my accomplishments and since I did the work for my diploma( triple major in art business and psychology) I have yet to get a lot of social recognition all of these majors involves a lot of social interaction to succeed and I basically get treated like I didn’t do any work. Like they demote me before I even get a chance. I have been humbled in like four towns. That happens to a lot of millionaires weather they earn it or not. But the difference between me and them is that I actually trained myself to think like a billionaire. The writing I did I know ( since I’m not an actual idiot) is actually capable of making a few billion dollars and to be a book and movie) ( I know what I am capable of, I have got to get with my real friends but put myself to the test as I trained for. You see these people in society. Some of them are so ridiculous that they really are like crabs in a bucket and want their friends to fail or not do better than them. I am the kind of person that wants people to be at their absolute best version of themselves but I am kind. Imagine trying to get someone to be their best with just kindness and courage like that little Cinderella princess. I didn’t used to think I was like a princess like her but I do talk to mice and animals. Aside from the meaning I am a writer what if I deserve a Prince Charming and happily ever after. I do dream of castles. Do I deserve it I actually do. And will I have the wealth. I will. Do I. Yes I do! Who am I? An undercover billionaire.
A million dollars you can’t even retire comfortable without using up the base amount, it’ll get you out of any bad debt, and help you get a bit closer to retirement, that’s about it.
You escaped police custody and now your Barber has won a million dollars what a interesting life you live