How To Get Rich & Financially Independent (Works in 2024)

Summary

The video explains how to earn money by solving people's problems. Focus your limited time and energy on one field you enjoy and can do for years. Become an expert through experience and failures. Invest part of your income while living within your means. Jobs provide security to focus more. Write niche blogs, do freelancing, influencer marketing. The key is to compound your efforts, knowledge and money over time by solving people’s problems in a field you love.

Takeaways

• 💻 Starting with programming or tech-related work, leveraging the internet and a laptop, can significantly increase earning potential.
• 💬 Knowledge in the tech field compounds exponentially over time, enhancing your ability to earn more as you learn and build more.
• ⏳ Patience is crucial; earning substantial money takes time, often 2-4 years, with results guaranteed but speed is not.
• 💰 Focus on solving people's problems in any capacity (employee, freelancer, or company owner) as a reliable way to earn money.
• 📚 Blogging about a niche or in-demand topic can position you as an expert and attract income through high demand and low supply.
• 📲 Becoming an influencer on platforms like Instagram requires genuine enjoyment and quality content, not just a desire to make money.
• 💵 Investing a portion of your income, such as in Nifty ETFs, can significantly grow your wealth over time.
• 💱 Manage finances wisely by saving, not wasting money, and investing in areas that offer good returns, including self-improvement.
• 📌 Compounding—whether it's effort or money—is a key principle in wealth accumulation.
• 🚩 Success in making money requires focus, dedication, and avoiding distractions, emphasizing quality and depth over breadth in skills and activities.
• ⚽ Sacrifices are inevitable in the pursuit of wealth; success might mean missing out on other aspects of life, such as hobbies or relaxation.

Q & A

What are the three key things the speaker says you need to earn money?

The three key things are time, knowledge, and focus.

What does the speaker say is your biggest friend when it comes to making money?

The speaker says time is your biggest friend when it comes to making money.

What does the speaker recommend putting 20-25% of your income into consistently?

The speaker recommends putting 20-25% of your income consistently into Nifty ETFs.

How long does the speaker say it will realistically take to start earning good money if you are just starting out?

The speaker says it will realistically take 2-4 years to start earning good money if you are just starting out.

What does the speaker say you have to lose out on if you want to be very successful at making money?

The speaker says you will likely have to miss out on things you enjoy like playing sports, traveling, etc. if you want to be very successful at making money.

What does the speaker say is not repeatable when it comes to getting rich?

The speaker says that seeing one young person earn crores is not repeatable - you can't expect to simply copy what they did and get the same results.

What does the speaker say failures will make you?

The speaker says failures will make you wise.

What does the speaker compare your energy levels to in life?

The speaker compares your energy levels to a fixed amount, like 100 units, that you can optimize but not really increase.

What does the speaker say the magnifying glass example with sunlight shows?

It shows the power of focusing all your energy on one specific point, like how the focused sunlight can start a fire.

What does the speaker say is the repeatable formula for getting rich?

Solving people's problems - if you solve problems, you can earn money in any role whether employee, freelancer, or business owner.

Outlines

00:00

😊 Intro: Earning money through tech skills

The video introduces how to earn a lot of money by acquiring tech skills and solving people's problems. It talks about the exponential benefits of gaining knowledge and experience in a particular field over time. The creator promises to reveal a personal way to double money.

05:02

👨‍💻 Tech skills bring freedom & compounding gains

The creator explains how learning programming and tech skills gives you the flexibility to work comfortably from anywhere. Also, the knowledge compounds exponentially over time as you build on top of what you have already learned. He advises focusing all energy on mastering one field first.

10:04

😤 Need sacrifice, failures and focus to succeed

Succeeding in any field requires sacrifice, enduring failures, relentless focus on solving real problems for people. We need to invest time building expertise, experience failures to gain wisdom. The creator urges avoiding distractions and wasting time on secondary activities.

15:07

🤑 Reap rewards later by solving problems now

The creator concludes that the formula for making money involves solving people's problems consistently with your specialized skills. He summarizes that it requires time, singular focus and building real expertise. Finally he cautions about missing out on other joys of life later.

Keywords

💡Focus

The video emphasizes the importance of focus and directing all your energy into one pursuit. As illustrated through examples like startups taking losses for years and successful people having a single primary source of income, obsessive focus is key to getting outstanding results instead of being mediocre at many things.

💡Problem Solving

Solving people's problems is presented as the key way to make money. Whether as an employee, freelancer or business owner, you get paid for alleviating others' difficulties. Creating demand where there was none previously through innovative solutions is also highlighted.

💡Time

Time is described as the most critical resource for getting wealthy. As compounded knowledge and consistent effort over years lead to exponentially greater results, investing significant time into acquiring expertise is emphasized instead of seeking quick fixes.

💡Failure

Failures and setbacks, despite being emotionally difficult, are positioned as providing useful experience and wisdom to ultimately succeed. The example of Thomas Edison trying 64 different materials for the light bulb filament is mentioned in this context.

💡Runway

The concept of startups taking losses for years to acquire customers for the long term is analogized as having a 'runway' where funding covers short-term unprofitability. Optimizing for growth over profits in the initial years is strategic for their model.

💡Finance Management

Prudent saving, investment and avoidance of waste is advised for wealth creation. Regularly investing even 20-25% of income into stocks is suggested as a way the speaker doubled their money over time through compounding.

💡Reality vs Expectations

The video underscores the importance of having realistic expectations aligned with reality. Get-rich-quick schemes are dismissed as unrealistic. Concrete timelines of 2-4 years of hard work are laid out to calibrate expectations correctly.

💡Consistency

Persevering with investments and efforts continuously over a long period is advised rather than sporadic bursts. This applies to investing in stocks every month for compounding or acquiring expertise through regular practice.

💡Trade-offs

It is acknowledged that the obsessive focus required for huge success often necessitates sacrificing some joys like travel and leisure. This loss is positioned as the trade-off for achievement.

💡Journey vs Destination

Enjoying the process of consistent work and improvement is advised rather than just fixating on the financial outcomes. This mindset helps maintain motivation and progress during the long journey.

Highlights

By doing tech related work using your laptop, you can earn money easily from the comfort of your home.

In tech fields, your knowledge compounds exponentially over time.

The three key things you need to earn money are time, knowledge, and focus.

It takes realistically 2-4 years to start earning good money in a new field.

You get paid for solving people's problems in some form.

Find something you can obsessively work on and enjoy for years.

Failures make you wiser. Always remember that.

Focus all your energy on mastering one lucrative skill.

Invest regularly in index funds. This doubles your money over time.

Manage your finances wisely. Save, invest, don't waste.

Solving people's problems is the only way to earn money. No magic involved.

Compounding of efforts and money will help you get rich.

Stay focused on your goals, but remember you may miss out on some life experiences.

The formula of time, knowledge, focus and solving problems works for any field.

Hope this video added some value and taught you something new about getting wealthy.

Transcripts

In this video, I will tell you how you can earn a lot of money in your life.

I will not tell you anything that you have already heard.

Like freelancing, making a product and selling it, selling courses.

I will not tell you all that.

Actually, I will tell you a way by which you will be able to find out how to earn a lot of money.

By the end of this video, I will tell you a secret by which I have personally doubled my money.

And this is not a scam.

I have literally doubled it.

Guaranteed, your money will be doubled. Now, I don't say this in every video. But this video is going scam. I literally doubled it. Guaranteed your money will double.

I don't say this in every video.

But this video is going to be one of the most important videos of this channel.

And if you think that you are left behind in the race to earn money.

Then this video will tell you how you can earn money.

But before moving forward, I want to give you a disclaimer.

It's not going to be fun.

It's not going to be easy.

And I will tell you some things that you will think that what did he say.

So be ready to listen to all that.

So with this promise, I start and come to the main point.

I want to tell you one thing,

By doing programming, you can earn a lot of money easily.

Now here I will not only talk about programming,

I will say that by doing tech related work,

By using your laptop, you can earn a lot of money easily.

You have internet connection, laptop, you have your comfort.

This is game changing because you can work in your comfort.

The second thing is that as you can work in your comfort. Second thing is

as you take knowledge in any field,

in computer related field,

your knowledge is compounded.

It is exponentially compounded.

I will give you an example of this.

If you are 19 years old today,

let us say you know very basic things in computer programming.

If you are 20 years old,

you will know 4 more things.

Then after using those 4 things,

you will make something else.

And you will make something else

by using what you have made. Today you learned something by working hard. So tomorrow you will make something else using those four things. And you will make something else using what you have made.

Today you learned something by working hard.

So tomorrow you can achieve more by using the same hard work.

Then you can achieve more by using the knowledge you have acquired.

So the main thing about money is time, knowledge and focus.

You will need these three things if you want to earn money.

Time is your biggest friend.

If I give you a realistic expectation, you will not like it.

You will freak out.

2-4 years.

Yes, it will take a lot of time if you want to earn money.

But this is a realistic expectation.

I don't want to tell you that you will get lakhs of rupees after a month.

If you are starting today, you will take 2-4 years.

This is a fact and I want to tell you the truth.

I will also say that results are guaranteed, speed is not.

It's not like you have seen a 19 year old boy or girl who has earned crores of rupees in his life,

then you can do it too.

Everything is not repeatable.

What were the circumstances, what was the timing of it?

The biggest misconception of people is that if a person makes a lot of money by doing one thing,

50 more people will come to do the same thing.

They will say that we will also make it like this.

It does not happen like this. You will have to understand how money is made.

And that's what I am going to tell you in this video.

So this universe is governed by cause and effect.

There is a reason for everything happening.

Being rich is an effect.

You have to find a cause.

What did you do to become rich?

So we have to find a cause.

And we have to do that and work on it.

In your life, you make choices at every moment.

If I tell you what you want to study, what you want to do with your laptop,

or you want to go out and play football,

you make a choice there.

If you are going to play football, I am not saying that it is wrong to play football.

You have taken a decision.

You are going to sleep early or late, that is a decision of your life.

In this world, you can earn money by solving people's problems.

Anyone will give you money when you are solving their problems.

Now do this in any form.

Whether you are an employee, a freelancer, or your own company, You will get paid when you solve the problem. You can do this in any form.

Whether you are an employee, freelancer, or your own company.

You are solving someone's problem in some way or other.

And you are getting paid for solving the problem.

So these are some basics.

But you have to ask yourself some questions.

Is it something that you can enjoy all your life and do without taking money?

Is it something that will make you rich?

Because if you are doing something and you are expecting to earn money from it,

then it will take time.

And don't get bored and quit in the time that is going to take.

For this, this question is important.

You have to answer this question.

What is that thing that you can do for the next 5 years without expecting money,

enjoying it, maybe you don't get money, then you do that thing. What is that thing? You have to find the answer to this question.

You will do things in your life, you will do right and wrong, you will do more wrong and less right.

And as you do wrong, you will get this thing, it is called experience.

I tell you that when Thomas Elva Edison made the bulb, someone asked him,

those workers of the factory who are making the bulb and you are also making the bulb,

what is the difference between you two?

You know the formula to making a bulb, right?

Thomas Elway Edison said that I know how to make 64 bulbs.

That person knows how to make a bulb.

So experience is a big thing.

Which means Thomas Elway Edison can go further than that.

Because he has seen failure.

And he has experienced failure.

Because of which he is wise.

So failures will make you wise. Always remember.

Now I want to talk about the importance of focus.

You have limited time in your life.

You have to do everything like sleep, eat, do other activities.

You have limited time in your life.

And you have a certain amount of energy which will vary with the age.

You can't change the time.

You will have the same amount of time in a day

but you can change the energy

by eating properly, sleeping properly

by avoiding any kind of food and drink

you can understand what I am talking about

by avoiding all these things

you can optimize your energy

but you can't change the time

you can spend the time as much as you want

you can spend it in doing hard work

you must have heard people saying that they have 7 streams of income

or 10 streams of income

I think most of the people are lying to you

no one has become rich who has focused on 50 things

rich is only the person who has put all his energy on one thing

let me explain

suppose you have 100 units of energy

now you say that I will do everything

I will play football

I will work to become a professional cricketer

then you say that I become a youtuber

So I learn video creation

You are also putting energy there

So your energy has increased everywhere

Now there is another person who said that I have 100 units of energy

I will put it in coding only

It is not that he will not take care of his health

He will not enjoy it

But his primary focus is coding

You must have seen the magnifying glass that we have

In the sun in childhood, what we used to do

When the sun was shining, we used to focus on the paper and it would catch fire.

Why did it catch fire?

Because all the energy that is coming from the sun, we are focusing on one point.

The impact is so dangerous that no one would have thought that the sun's light can catch fire.

So I said that those who say that you have 7-8-10 sources of income, they are lying to you.

Actually, you will say that I have seen that person's 7 sources of income.

He is doing this and that.

So what happens when you start out?

So what will happen?

Suppose you say that you don't know that you should do cricket, coding, job preparation, UPSC.

What should I do?

You have to go everywhere to find that thing.

Temporarily, you will swim in a normal boat.

And after swimming in a normal boat, you will know which is the boat on which you want to swim.

On which you can spend 3-4 years and become the king of that field.

Results are guaranteed.

I am telling you if you do this.

What you do is you do a small work.

You say I am getting some money from here, I will do this too.

I will increase the tuition.

I will teach cricket too.

None of these things will make you very happy.

You are basically 7 sources of income but you are not good at anything.

You will remain a jack of all trades, master of none.

Let me tell you another scenario where you will see very successful people.

You will see billionaires and crores of people.

They have so many sources of income.

They have mastered their life in a particular field.

After that, they have opened 5-6 sources of income.

One person is earning 2000 crores

so if someone else is running a business of 2 crores per month

it will be a project for people like we will take 100, 50, 200 rupees for people

but the person who made his money

there are exceptions in everything

but in most of the cases, if I talk about theory

that person must have earned money from only one thing

and once that thing, his primary source of income,

Then he would have spread his secondary sources of income.

I hope you understand what I am saying.

So in general, what I mean to say is that you have time limited,

You have focus limited.

You have to avoid distractions at all costs.

Avoid those who waste your time.

Don't go to play if you are wasting your time.

Now you will say that all these things are important.

If you add any additional thing,

Suppose I say that I will learn guitar from tomorrow.

It will come at the cost of something

The time I was giving somewhere else, now I am giving there

So that thing will become weak

If you want to become very rich, you will feel a little bitter

You will have to leave all these things

You will have to do so little that you will be in a lot of trouble

You will have to do that thing that you used to roam around at night

Otherwise, you sacrifice this thing

If you don't want to become rich, then do those things

You will get to see all the fun there.

You will enjoy it that you will not be able to become rich in life.

But if you want to become rich, then you have to put all that time and focus energy here.

And there is an example of any startup.

People do this.

I tell you how in a nutshell startups work.

I don't take names.

The startup sells glasses.

They lost 100 crores last year.

Before that, they lost 120 crores.

Now you will say that if people are losing, then what is going on? I mean, they lost 120 crores. Now you might be wondering what's going on when people are losing.

I'm better than them.

I earn at least 0.

I'll tell you why.

They have taken a 5-year or 10-year runway.

They have funding.

Investors give them money.

For example, they are given 10,000 crores.

Now what you have to do is

make a profitable business for 5 years.

They will invest money on you in the first year. 5 years and make a profitable business. In the first year, they will put money on you.

You will get such a good service, you will say that you have to buy glasses from here.

Glasses mean this.

They will also do loss in the second year.

If you say return, they will also return.

They will do everything.

You will say that it was fun.

They also return, their quality is also good.

They are cheap too.

They will also lose in the third year.

They will also lose in the fourth year.

In the fifth year, they will come to normal.

That means they used to trade for free and it was your mistake.

After that, they used to give you refunds and returns after the mistake.

They will stop giving that.

The customers who acquired them,

because they trust them and they will maintain their services,

they earn money.

And that money covers the long-term loss.

Startups also function like this.

What they do is they take time.

So the thing about money is time.

Now what are you doing?

First of all, you have to find the field on which you have to spend time.

This is your life for 2-4 years.

So in which field will you invest?

About which you will think in the morning,

yes, let's do this,

today we will do this,

today I will do this thing like this,

yesterday I did this, now I will do this.

So you will become an expert in that thing while enjoying time.

Now the internet, laptop and digitization is a great thing.

You can do all this work sitting at home.

You can join platforms like Fiverr and Upwork.

I am not saying that it is easy to do work in Fiverr and Upwork.

I am telling you again that it is difficult.

But when you become an expert in something,

you become a resource yourself.

And eventually, work follows you.

Remember this.

And how will it do it?

In some way or the other, it will do it.

And these are just some of the ways

through which you will get work.

Focus on yourself and focus on your work.

So if you are choosing coding like me, then you should work on coding.

First make personal projects.

First be satisfied with your work.

First respect yourself.

Then you will try to prove to others.

Whenever you make someone's life easy, save someone's time, solve someone's problem.

Whether he knows the problem or not.

Someone asked for Zomato, but it came.

They said why not we bring food to your house. If someone asks me why not you go to Delhi in 5 hours

why not I will make a flight and you will reach there in 2 minutes

did I ever ask for this? no but if someone will bring then why will I not give him money

these kind of things also make money in life

so if you choose anything and you tell yourself that I am going to spend my life

I am going to spend 2-4 years in this then you have said it after that you will not change spend your life on it. You are going to spend 2-4 years on it. So you said it.

After that you will not change.

Like I gave you the example of magnifying glass.

You have to do that with it.

2-4 years.

Results are guaranteed.

With that said, I will tell you some ways to earn money.

And after that I will also tell you how I doubled my money.

So the first way I want to tell you to earn money is to get a job.

You will say that job?

I was talking about becoming a millionaire.

Why should I take a job?

When you have a job, you have a sense of security

Your mental peace is maintained

You know that at least my basic expenses will meet

Your Bugatti will not come

Your Lamborghini will not come

Maybe your car is not there

But at least your basic expenses will definitely meet

When that happens, your mind functions properly

So the thing you are focusing on, the time you are spending

It will be better

Remember something is better than nothing.

Instead of doing nothing, sitting idle,

but when you have a job, you know that there is some amount of money on the way.

So that feeling is very good.

The second way I will talk about is blogging.

If you write a blog about the thing you are making your life about,

about which you are giving 2-3 years of your life,

then by blogging, if you choose to write about the thing

Which is not available on the internet

Play the game of supply and demand

Suppose there is a new framework, next js 15

And no one has written on it

So you start writing, make your blog a micro niche

Only on next js 15

So high demand, on which there is no content

You should be good at it

You should be expert at whatever you are writing on

After that, the third thing is freelancing

About which everyone talks

Which is shown very easily but it is not at all It is very easy to do but not possible

it is very difficult to get online work but you can use some techniques

try it out, you will get something

do cold emails, even if you don't get any result, do daily emails

send your new things, eventually you will get something

4th thing is becoming an influencer on instagram

it is not easy, I am telling you again because it is not easy to become an influencer on Instagram.

I'm not saying that becoming an influencer is a big thing but you are just not made for it.

I've seen people fail in their life trying to become an influencer on YouTube.

I don't think I've seen it in any other field.

You have to understand whether you're enjoying it or not.

Whether your videos are good or not.

You have to remember this.

I'm left behind in this field for multiple reasons. you have to remember this. Now this is a filter in which I am left behind for multiple reasons.

That somewhere you have to monetize at the right time.

Otherwise you will be like this and you will not be able to earn much money.

At the right time, the right amount of monetization is important for your content.

If you are influencing, then tell me.

After this, the fifth one.

With which my money doubled.

Now you will be very excited.

You will say tell me quickly how to make it double.

One such thing that changed my finance life.

I will tell you about that.

When I started earning,

a senior told me to invest my money.

He told me about Nifty ETF.

He said whatever income you are doing,

out of 100% income,

put 50% income in Nifty ETF.

If you don't have any responsibility.

I told him that I can't do 50% but should I put 20-25%?

He said yes, 20-25% is fine.

But put 20-25% consistently.. I used to buy Nifty ETFs. I didn't do SIP.

SIP is also good. SIP means that your money is automatically deducted every month.

And it goes to a particular fund.

But I will say that you should invest in Nifty ETFs because it grows.

When I look at the amount I invested today, I feel that I did 25-25% and not 50%. But I am glad that I did 20% and not 50%

I am glad that I did 20% and not 50%

If you are saving 10k in some useless thing

If you put it in nifty ETF then how much it would have become in 10 years

I am not saying that you should not enjoy it

Some things will take investment in your work. It will give you a big return.

You can take more returns by investing in yourself.

And don't get me wrong.

Buy courses.

Do what you feel is right.

You are very smart.

I say don't waste.

Invest.

You don't know anything.

Select a good mutual fund.

Do investing in it.

I am not going into details.

But manage your finances properly.

Save money.

Don't waste money.

Put it in the right place.

So the conclusion is that until you don't solve people's problems, you can't earn money. Don't waste it. Put it in the right place. Your conclusion is that until you solve people's problems,

you can't earn money. There is no magic.

There is no such thing that you can do one thing and you will get success. No.

The formula I told you in this video is repeatable.

It will work for every field. It will not only work for coding.

I am trying to implement many things from what I told you in this video in my life.

Compounding is your friend.

Whether it is compounding of efforts or money

Both will help you

Focus your energy on one thing that you are very obsessed with

You can do it repeatedly

And you enjoy doing it

Now before going I will talk about a caveat

And that caveat is that in this money making process

Eventually you will be successful at some point

And after being successful you will miss out on a lot of things.

You have to lose something for something.

It is possible that you will look back after 10-20 years and say that I did not play cricket, I liked cricket very much.

I did coding.

I wanted to roam.

I had so much money that I could have traveled the world.

I did not do that after that.

And after that you will not get time or your body will not have energy.

Or some situation will happen that you can't do that thing

Or you can't do it with the same enjoyment as you could do before

So you have to take all these things into consideration

I wanted to explain you how to become wealthy through this video

And I hope I added some value through this video

Whatever I said in this video was according to my knowledge, my understanding, my experience

I hope you guys got to learn something new

That's it for now guys I hope you guys got to learn something new.

So thank you so much guys for watching this video and I will see you next time