Shadowing Practice: 05.a True Wealth - Effortless Business English - Learn English Speaking with Video
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True wealth.
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The definition of wealth is the number of days you can survive without physically working
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or anyone else in your household working and still maintain your standard of living.
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For example, if your monthly expenses are $1 ,000 and if you have $3 ,000 in savings,
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your wealth is approximately three months or 90 days.
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Wealth is measured in time, not dollars.
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Ultimately, it is not how much money you make that matters,
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but how much money and how long that money works for you.
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Every day I meet many people who make a lot of money, but all their money goes out to expenses and liabilities.
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Every time they make a little more money, they go shopping.
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They often buy a bigger house or new car, which results in long -term debt and more hard work.
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And nothing is left to invest in assets.
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Regardless of how much money people make, Ultimately, they should put some into investments.
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Investing is the process of money making more money.
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The idea that your money works so that you do not have to work.
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Robert Kiyosaki I like the idea of measuring wealth in time, not dollars.
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The important point is not how much money you have, but how much you enjoy your life.
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I once lived in my van for one year.
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Most people thought I was poor.
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I felt wealthy.
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I had a great amount of time and freedom.
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I worked very little, yet I still enjoyed books, movies, music, and friends.
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I had a comfortable lifestyle that required very little work.
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On the other hand, I have known many people who make a lot of money, but they aren't wealthy.
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They must work long hours every week.
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They spend more than they earn.
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They have little freedom.
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They're tired.
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They're stressed.
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They have many liabilities and few assets.
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Starting now, always think about wealth in terms of time.
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How long could you maintain your standard of living without working?
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How could you increase that amount of time?
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Do you regularly save and invest your money?
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Do you collect assets or liabilities?
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An asset is something that provides positive cash flow.
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Your job is an asset.
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It gives you money every month.
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Good investments are assets.
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They pay you money every month.
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If you own a home and rent it to another person, and if they pay more rent than your monthly loan payment,
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then your rental home is an asset.
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Your business is an asset if it is profitable.
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Liabilities are the opposite.
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They are things which cost you money every month.
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Your home is a liability if you pay a loan every month and don't earn money from renting it.
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Your car is a liability if you owe money on it and must pay a car payment every month.
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Your credit card is a liability if you must pay interest every month.
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All your loans are liabilities.
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Basically, liabilities are recurring expenses.
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Assets are recurring income.
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Simply, you want to increase your assets while decreasing your liabilities.
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The first step is to save.
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Save money, then invest it in assets, invest it in a business,
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invest it in stocks, invest it in a home that you rent to other people.
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Meanwhile, eliminate your liabilities.
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Pay off your car or sell it.
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Pay off your credit card, pay off your house, or rent a room, or sell it.
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In other words, eliminate all debts which do not generate a profit.
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This is the very simple formula for wealth, although it's not necessarily easy.
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It takes discipline to change your way of earning and spending.
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You must adopt a long -term perspective.
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You must do what most people do not do.
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Never forget the goal of wealth.
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The true goal of wealth is freedom.
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Freedom to live your life exactly as you choose.
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Freedom to do exactly as you want when you want to do it.
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You don't need to be a millionaire to be wealthy.
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You just need to steadily increase your assets while steadily eliminating your liabilities.
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Financial freedom is closer than you thought.
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Vocabulary and speaking notes for this lesson
This speaking lesson is built on the video “05.a True Wealth - Effortless Business English”. The speaker keeps coming back to these words: asset, liabilities, wealth, month, invest. This video has 70 sentences and 683 words to shadow. The speech runs for 5:33. The speaker talks at a steady 123 words per minute, a comfortable pace for shadowing. 86% of the words are among the 3,000 most common in English; the rest is worth studying before you start.
Key vocabulary in this video
15 words from the video worth learning, with pronunciation and meaning:
| Word | Pronunciation | Meaning |
|---|---|---|
| asset noun | /ˈæsɛt/ | A thing or quality that has value, especially one that generates cash flows. |
| liability noun | /laɪəˈbɪlɪti/ | An obligation, debt or responsibility owed to someone. |
| invest verb | /ɪnˈvɛst/ | To spend money, time, or energy on something, especially for some benefit or purpose; used with in. |
| earn verb | /ɝn/ | To gain (success, reward, recognition) through applied effort or work. |
| expense noun | /ɪkˈspɛns/ | A spending or consuming, often a disbursement of funds. |
| wealthy adjective | /ˈwɛl.θi/ | Possessing financial wealth; rich. |
| eliminate verb | /ɪˈlɪm.ɪ.neɪt/ | To completely remove, get rid of, put an end to. |
| steadily adverb | /ˈstɛdɪli/ | In a steady manner; with a steady progression. |
| meanwhile adverb | /ˈmiːnwaɪl/ | During the time that something is happening, often specifically in a different place. |
| necessarily adverb | /ˌnɛs.əˈsɛɹ.ə.li/ | Inevitably; of necessity. |
| regardless adverb | /ɹɪˈɡɑɹd.lɪs/ | Without attention to warnings or indications of bad consequences. |
| household adjective | /ˈhaʊshoʊld/ | Belonging to the same house and family. |
| formula noun | /ˈfɔː.mjʊ.lə/ | Any mathematical rule expressed symbolically. |
| collect verb | /ˈkɑlɪkt/ | To gather together; amass. |
| physically adverb | /ˈfɪz.ɪ.kli/ | In a physical manner. |
Phrasal verbs you will hear
| Word | Meaning |
|---|---|
| pay off verb | To bribe, especially to deter oversight. |
Sentences worth repeating
Short, complete lines from the video that you can reuse in everyday conversation:
- How long could you maintain your standard of living without working?
- How could you increase that amount of time?
- Do you regularly save and invest your money?
Grammar in this video
The structures the speaker uses most, with the exact words from the video:
| Structure | In the video |
|---|---|
| Passive voice be + past participle — the focus is on what happens, not who does it | is measured · is left |
| Relative clauses who / which + clause — extra information about a person or thing | people who make |
Pronunciation to watch
The speaker uses 5 contractions and reduced forms, such as don't, they're, aren't. Say them the short way, as you hear them.
- Long words — get the stress right: liability /laɪəˈbɪlɪti/, eliminate /ɪˈlɪm.ɪ.neɪt/, necessarily /ˌnɛs.əˈsɛɹ.ə.li/, millionaire /ˌmɪl.i.əˈnɛə(ɹ)/
How to practise with this video
- Listen to the whole video once without speaking and note the words you do not know.
- Shadow it sentence by sentence at normal speed, repeating each one until your rhythm matches the speaker.
- Record yourself and compare with the original, paying attention to words like asset, liability, invest.
What is the Shadowing Technique?
Shadowing is a science-backed language learning technique originally developed for professional interpreter training and popularized by polyglot Dr. Alexander Arguelles. The method is simple but powerful: you listen to native English audio and immediately repeat it out loud — like a shadow following the speaker with just a 1–2 second delay. Unlike passive listening or grammar drills, shadowing forces your brain and mouth muscles to simultaneously process and reproduce real speech patterns. Research shows it significantly improves pronunciation accuracy, intonation, rhythm, connected speech, listening comprehension, and speaking fluency — making it one of the most effective methods for IELTS Speaking preparation and real-world English communication.