Control Everything And Own Nothing

Curated By Ralph

My favorite leadership quote is by Eleanor Roosevelt, who said, "Leadership is about making hard choices and being accountable for those choices." To me, it illustrates the importance of having a strong moral compass and being unafraid to stand up for what you believe in. Being a leader is not always easy, but with courage and conviction, anything is possible.

Hey There YouTube Myron golden here and I am here with my friend Rick the wealth Coach Rick good to have you here top of The afternoon to you how are you Myron I Am utterly fantastic thanks so uh had a The privilege of spending the last four Days with Rick at a conference in Puerto Rico we flew down on a private jet and Um had some really really good Conversations and I was really Blown Away by his understanding and insight That he has into creating wealth and so He is going to be here today to share With us some of those principles sir all Right Rick so tell us exactly what do You do what does it mean Rick the wealth Coach what do you do for people so what I do is I help create legal lawful Lasting legacies okay what I really do Is I get people to change they aim you Know the problem with most people in Maryland biggest challenge that we face In life is that not that we aim low And that we ain't High I should say and Miss we ain't low and hit so I get People to look at life like you know how Can I have enough money so when I'm gone Everybody's taken care of From generation to generation to Generation so that's what I do I set up Trust for people a set of programs to Set up Financial programs and financial Management programs that make sure that

They family is able to eat off the Leftovers you know like not good Leftovers I'm married you know yes the Silvers are epic second third you know Mama's leftover 100 second third and Fourth day always taste better the Second and third day so money you should Have some leftover money that's what I Have that part good stuff good stuff so I know one of the things you talk about Is the difference between prosperity and Posterity so what is the difference Between prosperity and posterity first Of all there's no song for Prosperity Posterity got a song we the people in Order to form a more perfect again Establish justice ensure domestic Tranquility provide for the common Defense promote the general welfare and Secure the blessings of liberty to Ourselves and our Posterity so ain't no song for Prosperity Posterity so what's the difference Difference is Jesus said that the Kingdom of Heaven is like a man who Found some treasure and he realized the Treasure was in the field right so he Said what the heck I don't want to take No chances I'm about a whole field That way I guarantee myself to get the Treasure that was a really good Insight I don't want to take any chances I'm Going to buy the whole field the whole

Field I don't want to buy part of it and Then the part I buy it ain't there come On I'm gonna buy the whole thing yeah I'm on guarantees come on okay all right So the idea of posterity is that if you Shoot the posterity then Prosperity is Just a byproduct Um gotcha because you're not aiming at Just handling your business you ain't in There making sure that everybody behind You is okay so your aim is different it Matches Proverbs 13 and 22 which says That the wealth of the wicked is later For the just and a good man leaves Inheritance to his children's children So when you think about posterity you Don't even consider yourself good until Your grandkids is Rich so it changes Your whole aim with the way that you're Aiming money if that makes sense it Makes sense to me it reminds me of what Jesus said about Um lean on it for yourselves Treasures Upon the Earth We're resting mouth does Corrupt and thieves do break through and Steal rather live for yourselves Treasures in Heaven where neither Martha Rust is corrupt nurse thieves break Through and steal a lot of people think That because the scripture says lay not It for yourselves treasure lean out for Yourselves churches upon the Earth but We're not supposed to lay them up but Apparently I'm supposed to live for my

Children yes and my children's children Yes sir good stuff yes sir well you said It right a layup You see when you do a layer kids can Just come on and what slammed up because You laid it up you laid it up you laid It Up Above the Rim and so you made it Easy for them our kids supposed to have So much money until they they do slam Dunks off a trampoline right over the Rim and all we do is just lay the ball Up right over the room and let them do 360. um So you believe That it's a parent's job to set their Children up for Success absolutely uh Compounded wisdom you know sometimes our Children need to be with the Mayors you Got to be a wisdom there before you can Be a millionaire 100 so we got to teach Our kids wasn't because of food and it's Money assumed apart yeah we all know When person when people hit the lottery The last share and broke in two years so You got to train your kids about money And they can't be sitting around like This taboo like there's something wrong With it it's incredibly important right And it's really interesting like in is You have to you have to strike a balance When you're training children and you're Not teaching you don't want to teach Them this taboo but you also don't want Them to have an entitlement life owes me

Something because I'm here attitude even Though you're setting them up you still Have to make them work So that that's where people have a hard Time they think you can't do both but You can do both oh absolutely and There's a Bible that we do because if Like we just got this saying a fooling Their money or something important some People children sitting by they waiting By the bed right now so you ain't dead Yet I'm gonna hurry up would you please die I got I got a 15-minute plan for that Money it'd be going 15 minutes yeah so Yeah we need to educate the children so They can understand that it's a Privilege to serve and everything about Life is about sustainability that's what Possibility is about like like life is Sustainability it reminds me of what Jim Rohn said he said life is Um an exercise to keep death as far away As possible that's good Aid to the men On that everybody Everybody's saying that yes sir yeah That's good that's good so Um now that we have a little bit of a Grasp on that Um what is the difference Between A a Um a write-off and a tax credit that's a Really good question and uh so almost

Everybody's familiar with writing Something off sure so write off means You just get back what you spent right But wealthy people the way the wealthy People the one percentiles with one Percentiles operate is through tax Credits so the best way I believe Everybody should look up a tax credit is Just watch when President Trump was Re-running for office and he was having A conversation with Biden and so the Facilitator said hey Trump we heard you Only spent 750 in federal income taxes In 2016. so that first Myron Trump Started he tried to skate around the Question at first he skated he did a big Wheel he did Crazy Legs and all of a Sudden he just came clean he said man It's our pay taxes you say matter of Fact you'd be crazy to be paying some Doggone taxes he'd say we're from the Private sector all right he said we Didn't believe in that he said we avoid That like to play you know he said Matter of fact I get tax credits and That went right over the head the whole Populist listener they never seen where The tax credit is so they know what it's Talking about so he spent 120 million Dollars for a hotel but they gave him 885 million dollars just for buying it In tax credits so a tax credit is a Multiple of the money you spend and if You operate out of our type of trust our

Unincorporated trust our bookkeepers and Our accountants they know how to do What's called credits as opposed to just Debits right off as a debit but a tax Credit is money multiples of your money Returned back and it's a big difference Between getting multiples back and it's Equivalent to Solomon because Solomon Said cash your bread upon the orders and Ecclesiastes it shall return after many Days in other words it circulates right So all of us will get tax credits we got Our own Dance Mom it's time for the Circulator it's time for the circulator Uh it's time for the circuit say what Can you get with me it's time for the Circular I'm going to circulate man we Don't want no write-offs we want our Money coming back in multiples because It takes too long all just writing stuff Off are you picking up what I'm putting Down as you so eloquently say I'm Picking up what you're putting down yes I'm picking up what you're putting down So Okay so Talk to me about the different kinds of Trusts So you say because you brought you said Something about we do unincorporated Trust so which means you used a an Adjective to describe the trust yeah so Which means there are other adjectives That describe other trusts correct okay So you have um most people have a living

Trust but it's really a dead trust okay Okay because the only way somebody gets The money somebody Gotta Die okay all Right so but you know how people are I Can't sell nothing running around time Like hey man you want a dead trust You're like I Want You To Grim Reaper What do you mean do I want a dead truth So that would turn people off so the Words that people hear is what makes Them make decisions so a person say yeah I don't want my stuff going to probate So living trust is good because it won't Your stuff won't go to probate yeah so There's a term called Albans not obans But I dance I dance means the amount of Time that your money is being held in And it's not entitled with anybody and There are billions of dollars and I Dance right now because most people Don't have a trust at all so what Happens is that when they pass away they May have a will which means the money Will go to the Probate Court the Probate Court the probation probate attorney and The IRS they chop up most people's money I mean Alliance share of the human Population's money goes to probate court Goes to ProPay judge and goes to the eye To RNs that unwanted child the iris iris You know that that child that adopted Child everybody got Iris okay yeah so Iris so the IRS IRS she comes in and she Just snatches up your stuff for example

We have the Black Panther a young man a Young Man passed away and his estate was Worth 3.8 million he gave one point they Took 1.3 million out and gave it just Gave it to Probate Court the probate Judges and everybody else and they only Passes family 2.5 million James Brown a State it was in Probate for what about 17 years it was in our bands not old Bands now our dance for 17 years a good Book for people to get would be Black's Law Dictionary 11th Edition yep I have It and um it is an amazing book and it Has terms that you'll never hear in a in In the regular world when I say the Regular world the average you know Average person's vocabulary because the Average person speaks in legalese Legalese means that you say things but That word doesn't mean that word you Know for example in law the word Understanding means that I agree except And acknowledge something that's what The word understanding means of love so Ignorance of the law is no excuse so if You don't understand something then you Sign some papers or something then you Still got to be liable for whatever Happened so that's why it's more Important to get an unincorporated trust Because a living trust will keep you out Of probate court but it doesn't pay you It doesn't have any tax it can't give You any tax credits because it is

Incorporated it's not unincorporated let Me get an example I mean When you have something that's Incorporated the word Corporation means Corpse all right so it's an example Example it was a preacher and he opened Up a Christian School so he said man They told him he said hey is that is That school certified by the state those Teachers so the preacher was like now Are they certified by God they was like Waiting we don't care about God we're Concerned about I'll be 35 out of state So he's like that's that's cold it's Like so you don't have to come to court About this so he went to court and uh And somebody told him you ain't gonna Win in court and he said why is that he Said because you're a corpse that's a Corporation a non-profit thing you got That's a 501 3C that's a corporation so He said when you get in court they Basically going to tell you what to do Because it's a maritime court and you Don't really have no rights because when Your corporation you don't have rights You just got privileges so he went to Court and the judge said hey what you Got he said I got a 501 3C says what You're doing he said I'm teachers are They certified by the state he said no He said I should have the right to he Cut him off he said you ain't got no Rights on here all right you have no

Rights and he got right to be up be Quiet in that corner and then the judge Said he fined them 289 thousand dollars Close the schools up and and his new his New child Iris all right close the School of all the kids and Iris gave all The money one kid Iris took all that Money Iris and a court took this man's 289 thousand dollars and dissolved at School and just you know ruined um it's A good thing he had going on so if he Had went in there with an unincorporated Trust first of all they'd never been in Court because you can't sue him because Everything is owned by the trust so he Would have never even been to court in The first place because it's impossible To sue us but our ancestors in the court Because with our assets because we don't Own assets we control them so everybody That operates out of unincorporated Trust cannot be sued it's impossible Because the money is not in the person's Name or the business or the whatever it Is they're doing it's not in the Person's name it's in the name of the Trust so he could open up that school Out of his and paid the money for Everything out of his unincorporated Trust and when it never had to be in Court never they could have never sued Him and all of everything that he was Paying for out of the trust all the Books and everything he's doing for the

Kids and stuff says say say he spent you Know 250 by the end of the year he would Have got back multiples of that money And an equivalent of like a million Dollar tax refund on top of that on top Of the fact that he couldn't get sued so That's why we operate out of Unincorporated trust and not Incorporated because Um we can't get sued and we get Multiples of our money back that we Spent Wow you said a whole bunch of stuff Right there so I mean a whole bunch of stuff okay like I was trying to say did not blow your Mind this time I went I wasn't trying to Do that but you but you act like I did Ask the question Okay So Wow and I thought of a question when you Were asking when you were talking about All this stuff now you got my mind Racing down So So you set up this unincorporated Trust Get tax credits for the money that the Trust spends you that's the question I Wanted to ask you You said own nothing and control Everything what does that look like Looks like a Shameless plug oh nothing In control

Okay so okay so you've got you've got Your book control everything own nothing Secrets of how the wealthy legally avoid Taxes and protect their assets from Lawsuits yes sir okay so the way reason I wrote this book is because I went to Meet I was buying a lot of real estate And I was like I got a I got a third Part in every deal I do Iris Iris every Time you turn around she's there yes you Want 30 everything I'm like you ain't do The deal right all right you wasn't in The room when we did the deal come on You ain't signing the papers you ain't Negotiating ain't no blood sweat you got No skin in the game how dare you just Show up when it comes time for the money And just take your little portion of Hours I say so it's got to be a better Way so I went to a meeting in Chicago And I found out about an unincorporated For us so I asked the gentleman I said Hey I said say it I said if you know Anybody that's really got one of these And he said yeah my friend Tim Brown Tim Brown we're from the Oakland Raiders He's like yeah I said well how can I Meet him because Tim did the forward for My book but I saw that yeah I said so I Said how can I So you want to talk to him right now I said of course so he caught he took His phone out and he called Tim Brown And uh he's so humble so nice so kind

And uh so I said how you doing Tim he's Like great I said this is Ricky say yeah Say it tell me all about you I said can I come interview you I said when are you Going to be anywhere in the midwest he Said well I'm gonna be at the U.S open I'm an honorary chairperson me and Jerome thatters I was like all right I Said uh let's go I said when so this is Around 2019 we did this so I went in and I interviewed him I saw my YouTube Channel by the way oh wow I'm gonna go Watch it yes yes I interviewed him what Is your YouTube channel by the way Rick The Well Coach Rick the wealth coach Okay go ahead so I went and met Tim and He said Rick I'm gonna buy a hamburger And that's not bad enough to trust He said people have tried to sue me I'm A football player they say they've been They say they try to sue all of us he Said the problem is most of these other Guys who don't operate the way I do he Said don't you get it twisted he said All this Fame and Fortune stuff people Might be famous they don't know I mean They're rich that part they might be Famous he said and they are so Susceptible to lawsuits and they don't Know anything about operating tax-free That's the last thing I didn't even say Anything about so when you controlled Everything but you don't own it you're Absolved from taxes too when it's in an

Unincorporated trust so the money that We make every dollar that we spend out Of if I buy a house and sell it I got Zero capital gains if I buy if you buy a House or if the trust buys the house Yeah I'm saying buy it out the trust Okay yes I really like the way you said That it's the trust about the house not Ricky rank because I don't know nothing To trust on it well I was just going by What's your book said yes sir yes sir I Stand to be corrected three times so one For the father one for the son one for The Holy Ghost thanks for that that Three-time correction so yes sir answer Your question when you make a purchase So let's so let me give you example what I mean so when most people buy a house They're trying to figure out how to work On that voice in taxes but either get Like a self-directed IRA or maybe They're back they use like a 1031 Exchange so they like okay so the 1031 Has changed so you got so many days you Have 45 days to locate a property they Got 180 days to buy or else you're going To be liable for the taxes okay so That's the rules of a 1031 exchange okay All right so most people are like all Right so they have to keep going through That every time they want to buy a house But they just defer in the taxes so you Know how it is eventually gonna have to Pay and this is the one thing I can

Never understand about people Um brother Byron they've said well you Know later on I'm being a lower tax Bracket I see what kind of financial Plan is that you plan on being broken Later on that makes zero sense right You're supposed to have more money more Than we get yeah yeah children's Children money posterity why in the World would you aim at the angles what They're trying to shoot people in the Ankles no no no no no no if you're going To be rich if you're going to be wealthy Then you got to be Thinking Beyond you Which means that your moves that you Make they got to be aimed at posterity And that's what trust living does that's Why that's why the trust babies got the Most money in the world trustees we got More money anybody on the planet Trustees run basically run the whole World's economy trustees just look up John Pierpont Morgan he has a book Called The House of Morgan and uh it was One of my very first reads after I met Tim Brown and when hired me a staff once I found out what's going on I went hire Me a whole staff I said we we're going To be doing trust for the whole world Let's say Tim you tell me what's going On the whole world going to find out you Know that's something teach everybody Everybody that they want to be taught so The first book I started reading was the

House of Morgan and let me ask you a Question are you familiar with cosar one Two three and four Kosar no never heard Of it so there's a giant pepper Morgan's Yachts oh cos I won co-star two Cosi Three and cosine four Annie on the Titanic too John peer by Morgan right so When you see JP Morgan right right down Here by Morgan so he's a trustee he's a Trustee with several companies his Clients were the likes of the Rockefellers and the duponts and the Kennedys and all of these are the type Of clients they had a Commercial Bank And before they had a private bank Before it became commercial what's my Point though he was a trustee trustees Run the world do you know the bank the Director of a bank is a trustee The bank the bank director he's a Trustee so what is a trustee a trustee Is a person that has a fiduciary Responsibility between a beneficiary and Himself in other words he looks out for The beneficiaries right or the Shareholders so when you're going to a Bank the president of the bank you know He's always having meeting with the Federal Reserve because that's a Shareholders in the world bank that's The shareholders that's people who own The banks all the banks around the United States and uh but you know who Never been in a shareholders me who's

That me and you Um any your bank have invited you so Sharehold of Me no that's because he's a Trustee who's doing a breach of trust All right because he has a fiduciary Responsibility to you because he Wouldn't have no money in the bank if You haven't put it in there all right Another thing about a bank Banks get tax Credits every time you go into the bank And make a deposit they can they Leverage your money and they can spend They can get 10 times your money so Every time you put a thousand dollars in A bank then get ten thousand dollars Back and they start circulating that Money they know they know the song it's Time for the circulator this time they Know the bank is all of them all all the Bankers know this I'll be saying I see Them in their dancing In my mind in my mind I can see it I can See it in that dancing right so they Know that they know it's time for the Circulator so they circulate that money And people think they money in the bank I'm like bro I went to the bank well That's why it's called a fractional Reserve Bank because they only keep a Fraction of your deposits on reserve Fraction of your deposit so I like to do Commercials right so I like to go in and Just get some love songs of money so I Went and said give me ten thousand

Dollars so the guy was like That's this problem I say man you're gonna call security or Something what you're doing You want ten thousand I was like as a Banking He said Hold on a second came from out to back We can give you five I say what he said We give you five today I say hey man of My own money he was like what but you Know we don't really keep that much Around oh that money is what You circulating right so they they have To build another cold side number one Two three four another thing about the Banks mark and and you teach this and You're a very wise man for this I'm Amazed the people they're talking about I like to borrow money to make money I'm like who buys the most money in the World The bank breaks how often are they open Six days a week well to borrow what your Money your money all right cos I want Cosi 2 Cosi 3 Cosi four and they're Borrowing it at zero percent interest in Most cases come on if you want to if you Want to go in there and take a loan I Would charge you about five percent Something like that so this whole house Is on the credit card then I'll charge You more even more correct so and they And they making multiple percent of

Money with the moves that they're making Because they get tax credits 10 10 times What it is that you uh deposit is a tax Credit that's a credit all right so People aren't used to the idea of Multiples of their money when they put Their money out people are used to Getting just the money back that they Put out but that's not Solomon's uh game Plan Solomon said cash your bread upon The waters and many days they'll come Back to you say give a portion of seven And another portion of eight because you Know no baby winner is coming right all Right what's going to produce either This or that amen so I believe in Solomon I believe in his attitude about Money and I know you teach a lot about King Solomon I'll show you I share your Beliefs about that so that's my question About how you control everything you Know nothing because the trust owns Everything Is tax-free when you do business out of It and it produce tax credits and we Make money so much fat we make we make More money just circulating money and People make for a living So good so okay Um last question because we're gonna Need to wrap it up so here's my last Question How does one know how to choose his Successors or her successors that's a

Really good question you alluded to that A little earlier about making people Feel entitled well if I was you know she Was a successor I'd do it like first Samuel 16 10 if I was going to get them Because remember Samuel 16 chapter yep David because um it's time for Sammy to Pick a success a successor so he goes to Jesse's house and uh all Jesse's kids Come on except except one right and Samuel say man they ain't none of these Guys they can't cut the mustard they Ain't ready for this jelly all right you Got somebody else around here so so he Said we got one more kid baby in the Back with the Sheep like call them out You know he must be the man for it Because anybody else here none of these Guys make the cut so David comes out God Said that's him that's the one I want Right there so you think about why God Choose David instead of all the brothers You're successor number one got to be Doing the dirty work Um they got to be doing what everybody Else don't want to do let's go so David And he doing the Sheep his brother's Like they either do an electric slide And stuff clowning around while David Doing some real work second thing about Your successor is that your success Again I just said Are you sure they were doing the Electric Slide I ain't never been almost

Certain enough ladies So his brother thought we'd really do an Electric slide because they out there Dancing around went Goliath out you know The life out there threatening everybody They're playing hide and seek they can't Put cheese on a Whopper they ain't gonna Bust a grape in a tractor they ain't Gonna do nothing all right until David Show up on the scene so a successor has To have number one they have to be they Have to be already doing what other People don't want to do and the Successor got to already be managing Something Um he's out there managing a Chic Don't dare leave your money somebody Ain't managing nothing well they already Imagine something you know so it's a Sister need to be a manager and then the Last thing about your successor is that He got to be different from the crowd so David was extremely different from the Crowd because he was learning all that Great stuff out there with the Sheep Away from his brothers and he was a Perfect person to pass a man along to Because he was used to being secluded And he was used to making decisions Yeah so that's what I've been doing my Success I would make sure first of all I Want to they willing to do the Dirty Work they're willing to do what it is That's the I suggest to him why are we

Alive not no passing the money under you And we're not communicating on a regular Basis when I was in Honolulu for for the For the new year I sat my daughter down And I had to sign a success I think I Said honey I said uh you want this money Right she's like well he didn't put it Like that Daddy say hey it's okay money Is a great motivation I ain't mad at you Okay I'll say you want this money right Okay you have to sign this saying it's Gonna come to all my financial IQ Challenges and that you're going to do Homework at every one of them and you're Gonna make the kids do homework we got a Deal she's like yes they sign it Let's go but that's how I would pick a Successor good stuff good stuff so your Book What else do how can people get in Contact with you to learn more of what You know you said something about a Challenge yes sir talk to us about that How people can find out about it how People can get registered for it and What it is all that okay so it's called My financial IQ challenge so my finance Where we test your IQ and what we test Our IQ about how to get how to be Tax-free and how to get tax credits so For most people they had the Starting Gate most people I'm talking about all My really rich friends most of them That's Starting Gate and but it's for

Anybody it's not for you know and you Got to be elite and all of that anybody Can come and learn okay so so um that's My financial IQ challenge my financial yes sir and uh and I'm Rick the wealth coach on YouTube We're Welcome on YouTube and go watch the Video with the interview with you and Tim Brown they can watch me and Tim Brown they can watch me and Les Brown You know because we travel I'm Interviewing all the Brown Brothers yeah We travel around the world to help People you know we just want to help People you know so the bottom line is if Somebody knows a crowd of people and They want to help them then I can Together and we hope cool something so That's the idea good stuff Rick I'm also On Instagram is Rick the wealth coach as Well good stuff good stuff wow great Stuff man great conversation man I love You brother you oh my child I believe in You give you the desires of your heart If you let me maybe I'm gonna tell you This If Loving You Is Wrong that brother Can sing can't he uh y'all y'all see him Showing out don't you If Loving You Is Wrong man I ain't gonna be right All right bro I appreciate that I Appreciate you good stuff good stuff hey Guys go check out Rich the wealth coach On YouTube check him out on Instagram Subscribe follow join his my financial

IQ challenge get his book control Everything oh nothing the secrets of the Wealthy Like take advantage of all the Opportunities to increase your level of Financial IQ and financial awareness so You can take better care of yourself and Your family and don't forget to like Comment and subscribe to this video and Uh hit the notification Bell and any Other YouTubey stuff I'm forgetting I Know I'm forgetting one more YouTubey Thing but whatever that thing is you Know what it is so make sure you do it Rick thanks again I appreciate it peace Out Cub Scout yes

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