How I Would Invest $1000 If I Were In My 20s

Summary

The video emphasizes the importance of investing in education and skills development to increase earning potential, rather than solely relying on traditional investments like the S&P 500. The speaker argues that skills such as phlebotomy can significantly boost income quickly and encourages young people to live frugally and invest their excess money in courses, coaching, and mentorships. The goal is to build a solid foundation of marketable skills, which can lead to higher earnings and greater financial success over time.

Takeaways

• 💼 Investing in skills and education early in life can lead to significant income growth, potentially surpassing those with traditional four-year degrees.
• 🏦 The speaker emphasizes that investing in assets like the S&P 500 or real estate can be profitable, but it's not the best way to actively increase one's earning capacity.
• 📈 The importance of investing in oneself, particularly in education that increases earning potential, is highlighted as a smart financial move.
• 💡 The concept of 'value creation' is introduced, where one's ability to solve problems and provide value to the marketplace is the key to making money.
• 📚 The speaker suggests that spending money on certifications, like becoming a phlebotomist, can quickly increase one's earning potential and is a worthy investment.
• 🌱 The idea of living frugally and investing excess money in education is promoted as a strategy for wealth creation.
• 💰 A monthly investment of $2,000 in courses, coaching, mentorships, workshops, and seminars is presented as a way to continuously improve one's skills and earning capacity.
• 🏠 The speaker dispels the myth that real estate investments are passive; they require active engagement and effort to be successful.
• 🎓 The transcript suggests that continuous learning and skill acquisition, rather than a single four-year degree, can lead to higher income and success.
• 🤔 The value of learning from multiple sources and not just one 'guru' is highlighted, as it reduces the risk of a poor investment and broadens one's knowledge base.
• 🔄 The importance of replicating successful strategies before iterating and adding personal flair is emphasized for effective learning and application.

Q & A

What is the main point the speaker is making about making more money than those with four-year degrees?

The speaker argues that by investing in oneself through education and skills training, one can potentially earn more than those with traditional four-year degrees, especially if they start early and focus on increasing their earning capacity.

What is an example of a quick certification that can significantly increase one's earning potential mentioned in the script?

The speaker provides the example of becoming a certified phlebotomist, which can increase one's hourly wage from minimum wage to around $25 an hour.

What does the speaker consider a 'safe' investment in terms of personal finance?

The speaker suggests that investing in the S&P 500 or real estate, particularly when started early and over a long period, is a safe way to generate income.

Why does the speaker believe that investing in stocks or day trading is not a good idea for increasing one's income?

The speaker believes that investing in stocks or day trading is not a good idea because it is high-risk and can be seen as a cessation of the desire to make more income, rather than focusing on increasing one's skills and earning potential.

What is the speaker's view on the importance of investing in one's education to increase earning capacity?

The speaker strongly advocates for investing in education that increases one's earning capacity, suggesting that it is more valuable than investing in traditional financial assets like stocks.

What is the speaker's advice for someone who is 20 or 30 years old regarding financial investments?

The speaker advises that at any age, but especially for those who are young, one should live frugally and invest excess money in education and skills that will increase their earning potential.

What is the speaker's opinion on the value of a four-year degree in the current job market?

The speaker expresses skepticism about the value of a four-year degree, suggesting that investing in targeted skill development and certifications can be more beneficial in the current job market.

What is the significance of the speaker's mention of 'the asset side of stuff' in the context of investments?

The speaker uses 'the asset side of stuff' to refer to investments in traditional financial assets like stocks, which they believe should not be the primary focus for those looking to significantly increase their income.

According to the speaker, what is the key to building wealth through real estate investments?

The speaker emphasizes that building wealth through real estate requires active involvement and time spent in the real estate market, not just passive investment.

What does the speaker suggest as a strategy for minimizing the risk of purchasing paid educational content?

The speaker suggests following content creators on platforms like Instagram and YouTube to gauge the value they provide for free, which can indicate the quality of their paid offerings and minimize the risk of purchase.

What is the speaker's advice on how to approach learning from various sources in one's field?

The speaker advises to learn from multiple sources, understand what each offers, and then integrate that knowledge to become just as good or better, emphasizing the importance of not just copying but also iterating on what is learned.