You're 18? YOU NEED These Skills
Summary
TLDRThis video script offers seven key millionaire skills for aspiring wealth builders. It emphasizes the importance of acquiring high-income skills, learning to say no to distractions, and the value of investing early. It also advises against excessive news consumption, suggests traveling less for productivity, highlights the benefits of a good tailor for affordable yet stylish clothing, and stresses the rewards of smart credit card usage. The speaker shares personal insights and strategies, aiming to guide viewers towards financial success and wealth multiplication.
Takeaways
- π‘ Stop watching the news to avoid distractions and focus on personal growth and wealth-building.
- π οΈ Develop high-income skills, such as online marketing, coding, and sales, to increase market value and earning potential.
- β Learn to say 'no' to protect time and resources, ensuring focus on the most valuable opportunities.
- π Travel less to maintain stability and focus, especially for those starting out or who have not yet built strong business systems.
- πΌ Invest early and consistently to grow and protect wealth, aiming for a passive income that supports a millionaire lifestyle.
- π Get a good tailor to achieve a high-quality appearance without spending excessively on designer brands.
- π Understand the value of education and self-improvement in acquiring the skills necessary to become a millionaire.
- π³ Utilize credit cards and loyalty programs to earn rewards and maximize the value of your spending.
- π Recognize that millionaires often have multiple high-income skills, which they stack for increased financial success.
- π Prioritize building a successful business first before diversifying into other areas to ensure a strong foundation of wealth.
- π The speaker emphasizes the importance of self-belief and taking action on the skills shared to achieve millionaire status.
Q & A
What is the first millionaire skill mentioned in the video?
-The first millionaire skill mentioned is to stop watching the news. The speaker argues that the news can be a distraction and doesn't allow you to focus on your personal goals, such as becoming a millionaire.
Why does the speaker suggest not watching the news for aspiring millionaires?
-The speaker suggests not watching the news because it can be overwhelming and distracting. It also doesn't allow individuals to focus on what they can control, which is their own financial growth and success.
What is the second millionaire skill discussed in the video?
-The second millionaire skill is learning a high-income skill. The speaker emphasizes the importance of not just one, but multiple high-income skills to increase one's earning potential.
Why is learning multiple high-income skills important according to the speaker?
-Learning multiple high-income skills is important because it allows individuals to stack these skills, similar to Lego blocks, leading to increased earning potential and financial success.
What is the third millionaire skill mentioned in the video?
-The third millionaire skill is learning to say no. The speaker explains that saying no to distractions and unnecessary opportunities is crucial for maintaining focus on the path to becoming a millionaire.
Why is it important to say no to certain opportunities and distractions?
-It is important to say no to ensure that you have the bandwidth and space to focus on the right opportunities that align with your financial goals, thus increasing your chances of success.
What is the fourth millionaire skill discussed in the video?
-The fourth millionaire skill is about travel, specifically traveling less. The speaker advises against constant traveling and the instability it brings, which can hinder financial growth.
Why does the speaker recommend traveling less for those aiming to be millionaires?
-The speaker recommends traveling less because constant travel can lead to instability and make it difficult to focus on building wealth and maintaining a consistent lifestyle, which is crucial for financial success.
What is the fifth millionaire skill mentioned in the video?
-The fifth millionaire skill is starting to invest today. The speaker emphasizes the importance of investing as a means to grow and sustain wealth.
Why is investing considered a crucial skill for millionaires?
-Investing is crucial because it allows individuals to grow their wealth beyond their initial earnings, providing a sustainable source of income and financial security.
What is the sixth millionaire skill discussed in the video?
-The sixth millionaire skill is getting a really good tailor. The speaker suggests that investing in tailored clothing can provide a high-quality appearance without the high cost of designer brands.
Why does the speaker recommend using a tailor instead of buying expensive designer clothes?
-The speaker recommends using a tailor because it allows individuals to look stylish and well-dressed at a fraction of the cost of designer brands, which can be a significant waste of money.
What is the seventh millionaire skill mentioned in the video?
-The seventh millionaire skill is learning how to use credit cards and get rewards. The speaker explains the benefits of credit card rewards and how they can be leveraged for financial gain.
Why is it important to learn how to use credit cards effectively?
-It is important to learn how to use credit cards effectively because they can provide significant rewards and benefits, such as travel upgrades and cashback, which can save money and enhance the quality of life.
Outlines
π° Embracing Millionaire Mindset Skills
The speaker begins by emphasizing the importance of adopting millionaire skills to achieve wealth. They share their journey to millionaire status at 18 and guarantee that by combining their implemented skills with those they overlooked, the audience can achieve greater success. The first skill discussed is to stop watching the news, as it distracts from personal goals, doesn't affect change, and is often untrustworthy. The speaker suggests focusing on self-improvement before attempting to impact the world.
π οΈ Acquiring High-Income Skills for Wealth Creation
The speaker highlights the necessity of learning high-income skills to build wealth. They advocate for mastering multiple skills to increase earning potential, using the analogy of stacking Lego blocks. Examples of such skills include online marketing, coding, content creation, and sales. The speaker also references their 'Money Making Matrix', a tool they created to evaluate the best online business models, which has been well-received by their audience.
π« The Art of Saying No to Non-Essential Commitments
The third millionaire skill discussed is the ability to say no, which is crucial for maintaining discipline and focusing on opportunities that truly matter. The speaker admits to struggling with this skill after achieving initial success, which led to distractions. They stress the importance of this skill for personal growth and achieving life goals, especially during the early stages of wealth accumulation.
π Strategic Travel for Productivity and Focus
The fourth skill is about traveling strategically to enhance productivity. The speaker shares their experience of working from Cape Town and warns against the instability caused by frequent travel or digital nomadism, especially for those starting out. They suggest traveling less frequently but for longer periods to maintain focus and a stable work environment, while also considering cost-effective destinations.
π¦ The Importance of Early and Consistent Investing
The speaker identifies investing as the fifth millionaire skill, emphasizing its role in not only making but also preserving and growing wealth. They discuss the limitations of living off a million dollars and the need to invest to generate passive income. The speaker regrets not starting to invest sooner and encourages the audience to begin investing as soon as possible, regardless of their current income level.
π The Value of Quality Over Designer Labels
The sixth skill is about the importance of investing in a good tailor rather than expensive designer clothes. The speaker shares personal anecdotes about how they saved money by buying affordable clothes and having them tailored, which allowed them to look as good as, if not better than, those who spent more on branded items. They advise the audience to be wise with their fashion choices and spend money on quality rather than labels.
π³ Leveraging Credit Cards and Rewards for Savings
The final millionaire skill is learning to use credit cards and loyalty programs to earn rewards. The speaker regrets not utilizing credit cards and rewards programs earlier, as they could have benefited significantly from the spending they and their business already did. They stress the importance of using credit responsibly and highlight the benefits they receive from their American Express card, such as free flights and hotel upgrades.
Mindmap
Keywords
π‘Millionaire Skills
π‘News Consumption
π‘High-Income Skills
π‘Saying No
π‘Travel
π‘Investing
π‘Tailoring
π‘Credit Cards
π‘Rewards Programs
π‘Wealth Preservation
π‘Digital Nomad
Highlights
To become a millionaire, you need to have the skills of a millionaire.
The speaker made their first million at the age of 18 by implementing certain millionaire skills.
The first millionaire skill is to stop watching the news to avoid distraction and focus on personal goals.
News consumption can be detrimental as it does not allow for personal impact or change in the world.
The speaker emphasizes the importance of focusing on personal growth before trying to effect change in the world.
The second millionaire skill is learning high-income skills, such as online marketing, coding, and sales.
The speaker created the 'money making matrix' to evaluate the best high-income skills for making $100,000 a year online.
The third millionaire skill is learning to say no to distractions and opportunities that do not align with your goals.
The fourth millionaire skill is traveling less to maintain stability and focus on business growth.
Traveling frequently can disrupt the consistency needed for business success.
The fifth millionaire skill is starting to invest early to grow and protect wealth.
Investing is crucial for sustaining a millionaire lifestyle beyond the initial wealth accumulation.
The sixth millionaire skill is getting a good tailor to look stylish without spending excessively on designer brands.
The speaker advises against wasting money on expensive clothes and instead suggests using a tailor for a better fit.
The seventh millionaire skill is learning how to use credit cards and earn rewards to save money.
The speaker regrets not starting to use credit cards and loyalty programs earlier to earn rewards and benefits.
The speaker encourages viewers to comment on any millionaire skills they think were left out.
Transcripts
now listen to me your income and wealth
is merely a reflection of your personal
life and that's why if you want to be a
millionaire you need to have the skills
of a millionaire and that's precisely
why in today's video i'm gonna take a
time machine and go back and share with
you the seven millionaire skills that i
wish i knew when i was 18 years old now
some of these millionaire skills i
actually implemented and was one of the
big reasons why i ended up making my
first million dollars profit at the age
of 18 but some of these i completely
overlooked and the fact that you're
watching this video i guarantee if you
take the things that i implemented plus
the additional skills that i didn't
implement at the time i guarantee you'll
probably go on to be even more
successful than i was and that's why
this is gonna be a very exciting video
and if you are even remotely serious
about your success you're going to want
to watch the full thing the first
millionaire skill that you need to learn
and this one might really really shock
you
is stop watching the news now there are
a few reasons for this the first one is
you already have so much on your plate
right like you've already got a big task
in front of you which is you know
becoming a millionaire you don't need
all these additional extra inputs and
stuff like that and quite frankly look
there's nothing that's going on in the
news that you're going to be able to
affect change in this world as harsh as
this sounds the only way that you can
effect changes if you have money or you
have an audience aka a platform but you
don't have either of those things like
you're just trying to you know before
you can take care of other people and
deal with world issues and this and that
and by the way this is coming from
someone who's built schools for over 2
000 kids in nepal you know like i do my
part but i'm telling you i couldn't have
done my part if you know when i was 16
or 17 years old i was consumed by the
news and i'm like you know how can i
affect change in the world like no i had
to affect change in myself first and
then once my life was abundant i could
share that abundance for the world so
that's number one it's like like
anything on the news it's first of all
not gonna affect your life like you know
even when everyone argues about what
president is and this and that like
those do have some changes but like in
your personal life for the goal of just
trying to get to where you want to get
to i can tell you has no difference so
that's the main reasons you've got so
much on your plate and you're not really
going to be able to affect change out
there in the world based on the news and
the news isn't particularly going to
affect you at your stage and lastly and
you'll learn this as time goes on you
can't trust the news i mean i feel as
though like it's been very fun for me to
watch the last three or four years for
people to really i think start to come
to our realization but even from the age
of 12 years old i was super diligent
that i specifically did not watch the
news because i just knew it was one big
conglomerate and that it was all owned
by a very small subsection of people and
that's why when i do try to learn about
something i'm definitely not looking in
the news so millionaire skill number one
and by the way this is very funny
because you know i got told growing up
hey you know millionaires successful
people they watch the news they stay
informed and yeah maybe that may have
applied in the 80s when there was sort
of some sense of real journalistic
integrity these days it's just not true
at all right you will be substantially
poorer if you do follow the news so that
goes ahead and knocks off number one the
next skill you need to learn is a high
income skill now this is truly the basis
of everything that you want in life and
even better than that not learning one
high income skills but learning multiple
high income skills and stacking them
together i mean you can almost imagine
lego blocks the more of these high
income skills that you can stack the
more money that you'll make so when
you're looking at something and you're
deciding hey should i put my time and
effort into this should i learn this
skill ask yourself is this a high income
skill is this a skill that will continue
to pay me over the years you know a
couple examples of high income skills is
learning online marketing coding uh
content creation sales millionaires have
a high income skill that is valuable to
the marketplace multi-millionaires have
multiple high income skills that are
valuable to the marketplace now i know
that this is easier said than done and
you might be stuck as to like hey where
do i actually get started that's why
earlier this year i literally locked
myself in this room for four full days
to get to the bottom of the question
which is what is the best high income
skill in order to make a hundred
thousand dollars a year online now i
actually evaluated all this by creating
the money making matrix now what it does
it evaluates all the best business
models online and then it uses data and
a very specific formula to assess truly
what is the best business model in 2022
it's been one of my most popular youtube
videos in the last year the comment
section people absolutely love it so if
you want to go check out that youtube
video i will leave it in the first link
in the description for your convenience
anyways let's move on now skill number
three is something that even
multi-millionaires and billionaires
struggle with to stay and the sooner you
learn the skill the sooner you'll become
a millionaire the next millionaire skill
is learning to say no now this was
something that i was amazing at growing
up but kind of as i made my first few
millions you know you get distractions
and you get opportunities and this and
you just you start to pile on a little
bit more things in your life but it's so
important to stay disciplined and say no
to 99.9 of things because when the right
things come up you want to make sure
that you actually have the bandwidth and
the space in order to go all in with
those opportunities learning to say no
is one of the best skills you could
learn in your life and especially when
you're first starting out it is so
important learn to say no to your
friends i want to go out and party learn
to say no to favors you know you don't
always have to do favors for people and
also very importantly learn to say no to
certain opportunities if you've already
committed to one and you know that it's
the right thing to get you to where you
want to get to saying no is a way to
have respect for yourself as well as
what you're trying to accomplish and who
you're trying to become in life now
moving on everyone travels but it's a
real skill to know how to travel and
that's why millionaire skill number four
is travel but travel less now traveling
to put yourself in a new environment can
actually be incredibly productive for
you in fact i spent a large portion of
my year in cape town to just kind of get
away from the noise and it's a great
place for me to sort of work and focus
the key is i go there for two to three
months when i actually go now you might
be wondering iman why did you include
this as the fourth millionaire skill and
that's because i've seen something that
really really trips people up and it's
not when they first start it's when they
make their first hundred thousand or two
hundred thousand or three hundred
thousand they make those sort of numbers
you know they make six or multiple six
figures and then they're like you know
what this is cool but i could be
traveling and doing this you know and
they start traveling around the world
and they've you know they're flying
every two weeks or three weeks and
they're sort of nomading and they have
to constantly adjust their new
environments they have to find a gym
they have to find you know restaurants
they like they have to you know find a
local supermarket that they like you
know there's just so much uh instability
in their life and as i said i found that
digital nomadic really really caps out
people you know here's the thing if you
want to make 100k a year or maybe even
200k a year that's awesome then you know
for sure uh you know do your digital
nomad thing and i think if i was digital
nomadic right now it will work but
that's because i've had my main business
you know my advertising agency for six
years at this point so i've learned how
to build systems and stuff like that but
for someone who's just starting out and
said it's really important to have that
stability of you know environment you
know and just having your environment
optimized so traveling is fine you know
everyone needs to travel
just be a lot more conscious and also
when you travel try to travel to places
that are you know you're going to be
spending the same amount of money as
wherever you live or potentially even
save money by traveling you know that's
why i love cape town medellin is also a
really great option and kiev you know
used to be a really great option before
you know obviously all the unfortunate
events that are happening there and very
interestingly that actually brings up
one place that i always see people
travel to but is a horrible horrible
place
if you actually want to get anything
productive done and that is bali it's
very difficult with time zones it's in a
very weird place in the world that's
number one number two just sort of the
nature of it it's like everyone's in
shorts and flip-flops and it's it's just
very very you know i've spent a lot of
time out there and i've spent extended
months out there uh it's just a very
hard place to really really scale up
your business and make that first
million so as i said i wanted to include
this as millionaire skill number four
because i see a lot of people not when
they're first starting out but once they
make a you know a initial decent amount
of money i see a lot of people you know
get tripped up with this now the next
skill is the one out of the seven that i
personally didn't learn sooner and i'm
absolutely kicking myself because of it
millionaire skill number five is start
investing today listen to become a
millionaire the most important thing is
learn a high income skill and build a
business now to stay a millionaire and
then also multiply that wealth and
continue to live the lifestyle of a
millionaire you know over the future
years the most important thing is invest
you know let me tell you something a lot
of people aspire to make a million
dollars but the issue is like first of
all you have to pay taxes that's the one
but let's say you even make it you know
uh after after taxes in that right so
you have a million dollars so either you
live like a millionaire right and you'll
spend you know hundreds of thousands a
year let's say you know if you really
want to live a good lifestyle you know
uh fly you know business and first class
everywhere and stay in really nice
places and dress in really nice stuff
and have a nice car a nice watch and you
know sort of like millionaire lifestyle
you're gonna spend you know 300 400 500
000 you know it's very easy to even
spend a million or two million a year
i'm you know just being honest you know
if you want to live like a true you know
millionaire um so yeah let's say you
spend 400 000 a year well you can only
sustain that for two and a half years or
what you do is you live off your passive
income and you know let's say you make
anywhere from a seven to ten percent
return that's very very reasonable with
some of the options out there right now
um so yeah let's say from a million
dollars your now yields you seven to ten
percent so you can only live off seventy
to a hundred thousand dollars a year
which
you know you can live very well for sure
but like that sort of like image in
people's mind of like millionaire
lifestyle like that's not
you know you're not gonna be able to
live like that off you know making your
first million dollars after tax so
that's why it's important to keep
growing your income and keep making
money and then invest it so that way at
some point your investment portfolio
actually lets you live that millionaire
lifestyle and in my case unfortunately i
only started meaningfully investing uh
when i turned 20 after i'd already made
millions from the business investing
isn't sexy and it's not the best tool in
your arsenal for offense you know
building your business is and continue
to grow your business but it's not only
about offense it's about defense too
when you invest your money you also
don't spend as much because you actually
have a place to put it to now i know a
lot of people say that well you know you
could just save and you can just put in
cash but it's just at some point you're
like that it doesn't bring you anything
it doesn't bring you any yield it's not
exciting it's just sitting there there's
numbers in your account going up whereas
when you invest in you know you see your
portfolio rise and you know especially
if you start earning passive income from
it and you know exactly how much you're
making every week or every month from
passive income it becomes so so so
addictive invest now whether that's
crypto whether that's stocks whether
that's even having in stable coins just
you know earning you passive yield every
month or even alternative investments
like you know nfts watches or any sort
of collectibles whatever it is start
investing sooner rather than later and
by the way i don't care if you make a
thousand dollars a month that's
it doesn't matter to me still invest 200
of it because really it's about getting
in the habit because once you get to a
point where you're making a hundred
thousand dollars a month which trust me
if you're watching this sort of content
it's probably a lot sooner than you
think if you get to that point in life
then you have the habit of investing at
least 20 of your income i mean at 100
000 a month it should be even more than
that and you'll be surprised there's a
lot of people out there who make
millions a year but spend millions a
year so start investing asap the next
millionaire skill will save you a lot of
money and also really increase the
quality of your life along the way and
that's actually getting a really good
tailor now once again this may be one of
those skills where you're kind of
scratching your head and going why have
you included this and it's for a simple
reason once people start making money i
see people waste so much money on
expensive clothes you know designer
brands this that when instead all you
had to do was go to you know uniqlo or
muji or like one of these really sort of
high quality brands with you know uh you
know no graphics or anything like that
you know take an item from there go take
it to your tailor and depending on the
item it'll cost you anywhere from 20 to
40 dollars per item is that you don't
need to go to the most expensive
expensive tailors and you will look like
a million bucks rather than wasting all
this money on brands so clothes are such
a waste of money but at the end of the
day fashion is a big part of our life
and by the way this is coming from
someone who doesn't wear items that are
cheaper than 500 i mean you know even
just a simple white cotton tee like this
for me is 500 damn
you know most of the time one of my
outfits will cost anywhere from five to
twenty thousand dollars between the
shoes the jeans the shirt or sweater and
jacket you know and there's not a single
brand in sight you know i really like
very high-end brands and i like really
good quality and finishing rather than
you know just your designer stuff now i
know that is ridiculous but you know in
my position with the over eight figure
investment portfolio and a business to
make millions a year i really like
fashion and i really don't like labels
or brands i like to be you know more
under the radar with what i wear but
that's an area of life that i still like
to spend a lot of money in so as i said
this is coming from someone who spends a
lot of money on their wardrobe and i'm
even telling you it's so unnecessary you
know back in the day i used to go to
some of these brands like uniqlo muji or
i'd even go to um you know outlet stores
of some of the brands that i liked you
know brands like zedigan voltaire sandra
which are a little bit more on the
pricier side but if you go outlet stores
you get them very cheap or i used to
even go to second-hand stores especially
when i lived in london there were some
really good second-hand stores that had
very nice brands it's just they've been
worn before and i would take all this
cheap or at least relatively inexpensive
clothing and i would take it to my
tailor and i would look way better than
the people who spent 10 times as much as
i did but they didn't bother to get
their stuff altered or tailored and as i
said i was doing that stuff you know two
three years ago when i'd already made
millions of dollars so i said the reason
i include this in is because it really
pains me to see people who are on their
way to making their first million
dollars and that's a very important
point in your life and they're wasting
money on designer brands and this and
that like so i could have called the
skill like hey just don't spend money on
designer brands but they said get a
tailor and you're gonna look way better
than the people who are spending ten
times as much as you in any case as i
said clothes are an inevitable cost in
life but you might as well be a little
wiser when you shop now the last
millionaire skills is learning how to
use credit cards and get it rewards now
i only started using credit cards when i
had just turned 20 and not only just
credit cards but even just like loyalty
programs for things that i was using
often and stuff like that like i just
should have started way way sooner or
you know even just registering profiles
at different places i was shopping and
stuff like that like i just should have
been smarter with the stuff and it's
very painful because they said i only
got my credit card you know right when i
turned 20 and there was millions of
dollars of spending that i'd done
between myself and the business that i
could have gotten rewards for now i must
stress that it is incredibly important
that you actually trust yourself with a
credit card and you know that you're the
type of person that will pay back on
time but if you can do both those things
then a credit card is incredibly
incredibly valuable i mean from the
spending that i do on my amex anyways
you know i live in dubai so i fly
emirates basically everywhere i get 55
upgrades a year from either economy to
business or business to first class i
don't fly 55 times a year or even better
i get 14 round trips right so return
business class
free a year and if any of you guys have
flown emirates before you know that
their business class is very very good
you know it's not like european airlines
like you know you have your own bed and
you have your own little sort of like
private suite and stuff like that so
it's great because my assistant if it's
a night flight i just end up booking
business because i'm sleeping anyways
and a bed is a bed especially if you
have your own space like you do on
emirates a380
or if it's a day flight then we book
business and get instant upgrade to
first class with points entirely for
free so not only that i also get
upgraded at so many hotels because of my
american express card as well which is
super ideal and there's tons of great
other benefits and rewards as well that
come with it now i know that you guys
obviously won't be spending as much for
your business and personal as i will but
you know especially with some of the
incredible um sort of reward programs
they get for signing up and spending a
certain amount within a you know uh
within the first two months or three
months of joining whatever you can
easily get a few upgrades a year and
that alone is is great and totally worth
it as i said if you're spending that
money regardless so ladies and gentlemen
with these seven millionaire skills not
only will you be able to make your first
million you'll be able to keep it and
most importantly you'll also be able to
multiply it now i want you to go ahead
and leave me a comment down below what
millionaire skill do you think i left
out i'm gonna be reading all of them and
responding to you guys as well so i hope
you enjoyed and catch the next one
Browse More Related Video
HOW Teenagers Can Make $1 Million (7 Money Tips)
7 Habits That Made Me A Multi-Millionaire By 21
HOW TO ENTER YOUR RICH GIRL ERA | money mistakes, mindset and habits + how I invest my money!
After I Read 40 Books on Money - Here's What Will Make You Rich
How To Invest For Teenagers
8 steps to get RICH from a job in INDIA! | Akshat Shrivastava
5.0 / 5 (0 votes)