James Altucher, the author of "Choose Yourself: Be Happy, Make Millions, Live the Dream," went from having $10 million in the bank to "zero," he told Glenn Beck Monday. In fact, Altucher has gone from being a multimillionaire to losing everything several times.
"It's been amazing how poorly I've done managing my own money," Altucher reflected. "Like, I would make this money and then sort of say, 'That's it. I'm done as a human. I've achieved that goal.'"
Once, after losing everything, Altucher admitted he nearly committed suicide. But while he was at rock bottom, he realized something had to change. He could no longer judge his "self-worth by his net worth," as he described it.
"I had to get physically healthy," he said. "I had to get emotionally healthy ... I had to be mentally healthy ... And then I had to be spiritually healthy."
One of the things Altucher does every day is come up with dozens of ideas, whether they are for businesses, books, or ways to help other people.
"Money is only going to be a side effect of providing value for others," he explained. "Instead of me trying to help me every day, I started donating my efforts, my time, to charity. When I had free time, I started writing down ideas."
The bestselling author and entrepreneur said at the beginning he came up with a lot of "crazy ideas," and eventually he started coming up with "good ideas."
"Bit by bit, I would pull myself up off the carpet and try to survive," he said.
Altucher recently made headlines with an article titled "10 Reasons You Have to Quit Your Job in 2014."
He explained to Glenn Beck that "all across the economy," incomes are going down and inflation is going up. Large corporations have outsourced jobs to "other countries, robots, [and] people who are willing to make less than you."
"They don't need you anymore, and they never liked you to begin with," he said frankly.
Altucher said he's not advocating quitting your job when you have mouths to feed, and going with the "let it all work itself out approach."
Rather, he suggested: "Start, today, conserving your energy. Be healthy. Be around people who love you. Be grateful for what you have, and start coming up with ideas on how to help other people. Even within your own company."
Because, he warned, you can no longer "stick to the story" of going to college, getting a job, and having a lifetime of security.
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