My unfiltered advice to someone who wants financial freedom

Summary

The speaker, an immigrant who achieved financial freedom by quitting a high-paying job at Google, emphasizes the importance of understanding one's true motivations for seeking financial independence. They discuss the significance of having an 'abundance mentality' and setting clear, personalized financial goals. The script outlines steps for financial success, including budgeting with the 50/30/20 rule, educating oneself on investing, and the value of diversification. Personal anecdotes and book recommendations are provided to inspire and guide listeners on their journey towards financial freedom.

Takeaways

• 🌟 The speaker emphasizes the importance of not just financial freedom but also location and time freedom, which allows for the flexibility to work from anywhere and take time off as desired.
• 💼 Leaving a high-paying job at Google was a step towards achieving total freedom, which for the speaker, was more valuable than the financial stability the job provided.
• 🤔 The speaker prompts others to consider why they want financial freedom, suggesting that it's not just about money but about the life goals and aspirations one wants to fulfill.
• 🏡 The cost of living varies greatly by location, affecting what financial freedom means to different people. For instance, in Brazil, a significantly lower income might provide a comfortable lifestyle compared to cities like New York or San Francisco.
• 💭 The speaker suggests focusing on solutions and goals rather than problems, such as a low bank account balance or a disliked job, to work towards financial freedom.
• 💰 The speaker introduces the L.I.F.E. framework to determine financial freedom: Location costs, Individual lifestyle, Financial career goals, and End goals, which help in understanding one's true financial needs.
• 🚫 Avoiding a poverty mindset is crucial; the speaker advocates for an abundance mentality, believing in the possibility of financial success and opportunities.
• 📈 The speaker recommends starting with small investments to learn and grow, emphasizing the importance of education and understanding of investments over luck.
• 🔄 The importance of diversifying investments is highlighted to balance risk and reward, suggesting a spread across stocks, crypto, and real estate.
• 📚 Continuous learning and self-improvement are key to becoming a smart investor, with the speaker recommending books, podcasts, and courses to educate oneself on financial matters.

Q & A

What was the speaker's primary reason for quitting their high-paying job at Google?

The speaker desired not just financial freedom, but also location and time freedom, allowing them to work from anywhere, live anywhere, and take time off whenever they wanted.

Why did the speaker emphasize the importance of understanding one's 'why' for seeking financial freedom?

Understanding one's 'why' helps clarify personal goals and motivations, which is essential for creating a solid plan towards financial freedom and avoiding the trap of setting arbitrary financial goals.

What is the significance of the acronym 'LIFE' in the context of the speaker's discussion on financial freedom?

LIFE is an acronym the speaker uses to outline the key components to consider when planning for financial freedom: Location costs, Individual lifestyle, Financial career goals, and End goals.

How does the speaker define a poverty mindset, and why is it detrimental to achieving financial freedom?

A poverty mindset is a belief system where one thinks they will never have enough money, that getting ahead is too difficult, and that financial freedom is unattainable. It is detrimental because it prevents individuals from believing in their ability to achieve financial success.

What is the '50/30/20 rule' the speaker suggests for budgeting, and why is it important?

The '50/30/20 rule' is a budgeting guideline where 50% of income goes to necessities, 30% to personal expenses, and 20% to savings and debt repayment. It's important because it helps allocate funds effectively and ensures a balance between current needs and future financial security.

What role does the speaker believe community plays in developing a successful financial mindset?

The speaker believes community plays a crucial role by providing a supportive environment of like-minded individuals who can inspire, motivate, and help each other in their financial journeys.

Why does the speaker recommend starting to invest early, and what benefits does it offer?

The speaker recommends starting to invest early because it allows more time for compound interest to work in one's favor, leading to higher returns over time, especially for younger investors.

What are the three types of investments the speaker focused on, and why is diversification important?

The three types of investments the speaker focused on are stocks, crypto, and real estate. Diversification is important because it spreads risk across different types of assets, balancing potential gains and losses.

How does the speaker suggest approaching the learning process for financial education?

The speaker suggests approaching financial education by reading books, taking courses, following financial news, and making learning a daily habit, emphasizing the importance of continuous self-improvement.

What is the significance of the mindset shift the speaker talks about, and how does it relate to achieving financial freedom?

The mindset shift is significant because it involves moving from a scarcity mindset to an abundance mentality, which is crucial for believing in one's ability to achieve financial freedom and taking the necessary steps towards it.

Outlines

00:00

🌐 Pursuing Financial Freedom Beyond Just Money

The speaker, an immigrant who moved to the US as a teenager, shares their journey to financial freedom, emphasizing it's not just about money but also about location and time freedom. They left a high-paying job at Google to be their own boss and work from anywhere. The speaker discusses the importance of understanding why one wants financial freedom and the different motivations people have for it. They use a friend's story to illustrate the need to focus on goals rather than problems and the varying definitions of financial freedom, which can range from quitting a job to being able to afford a private jet.

05:01

💼 The Illusion of Numeric Goals in Financial Freedom

The speaker explains that financial freedom is not about reaching a specific salary but about the life one wants to live. They introduce the 'LIFE' method to determine financial freedom: Location costs, Individual lifestyle, Financial career goals, and End goals. They discuss how living in different places affects the cost of living and how personal lifestyle choices can impact financial needs. The speaker emphasizes the importance of understanding one's true financial goals before setting a numeric income target.

10:02

💡 Shifting Mindset from Poverty to Abundance

The speaker talks about the importance of mindset in achieving financial freedom, contrasting a poverty mindset with an abundance mindset. They share their personal experience of growing up with limited means but not feeling poor due to their positive outlook. The speaker encourages consuming success stories, surrounding oneself with ambitious people, and practicing gratitude to develop a financial mindset that believes in opportunities and personal capability to seize them.

15:02

💰 Budgeting and Investing: Keys to Financial Freedom

The speaker outlines the importance of budgeting as a foundational step towards financial freedom, advocating the 50/30/20 rule for income allocation. They discuss the need to save and invest to combat inflation and the decreasing purchasing power of money. The speaker shares their personal investment journey, starting with small amounts and learning about different investment types like stocks, crypto, and real estate. They stress the importance of education in investing, starting early, and diversifying investments to balance risk and reward.

20:02

📚 Continuous Learning and Personal Presentation for Wealth Creation

The speaker emphasizes the importance of continuous learning through books, podcasts, and courses to upgrade one's financial knowledge and skills. They recommend specific books that have influenced their financial thinking and habits. Additionally, the speaker points out that personal presentation can impact income, suggesting that looking one's best can boost confidence and earning potential, and directs viewers to a related video for further insights.

Keywords

💡Financial Freedom

Financial Freedom refers to the state where one has sufficient personal wealth to live without having to work actively for basic necessities. In the video, the speaker emphasizes the importance of financial freedom not just for the sake of money, but for the autonomy and flexibility it provides, such as the ability to travel, live anywhere, and take time off as desired. The speaker's own journey from a well-paying job at Google to self-employment illustrates the pursuit of financial freedom as a means to achieve personal and professional goals beyond traditional employment.

💡Location and Time Freedom

Location and Time Freedom is the ability to work from anywhere and at any time,不受地理位置和时间限制. This concept is central to the speaker's definition of financial freedom. They highlight the desire to not be confined to a specific workplace or schedule, which was a driving factor in their decision to leave a high-paying job and become self-employed.

💡Mindset Shift

A Mindset Shift is a change in one's attitude or perspective. The speaker discusses the importance of adopting an 'abundance mentality' rather than a 'poverty mindset'. This shift is crucial for believing in one's ability to achieve financial freedom and for recognizing opportunities that can lead to wealth creation. The speaker's own experience of moving to the US and observing wealthier peers without feeling envious illustrates a positive mindset shift that motivated them towards financial success.

💡Budgeting

Budgeting is the process of planning and controlling one's income and expenditure. In the video, the speaker stresses the importance of budgeting as a foundational step towards financial freedom. They introduce the '50/30/20' rule, where 50% of income covers necessities, 30% goes to personal expenses, and 20% is allocated to savings and debt repayment, demonstrating how budgeting can lead to financial stability and growth.

💡Investing

Investing involves allocating resources, such as money, with the expectation of generating an income or profit. The speaker shares their journey of learning about and engaging in various forms of investing, including stocks, cryptocurrencies, and real estate. They emphasize the importance of starting small, learning as you go, and diversifying investments to balance risk and reward, which is key to growing wealth over time.

💡Compound Interest

Compound Interest is the interest on a loan or deposit calculated based on both the initial principal and the accumulated interest from previous periods. The speaker mentions the power of compound interest as a reason to start investing early. The concept is integral to the idea that investments can grow exponentially over time, especially when reinvested earnings also generate returns.

💡Diversification

Diversification is the strategy of allocating investments across different financial instruments, industries, and other categories to optimize returns and minimize risk. The speaker advises against putting all investments into one 'basket', highlighting the importance of spreading investments to manage risk effectively. This strategy is crucial for long-term financial stability and growth.

💡Inflation

Inflation is the rate at which the general level of prices for goods and services is rising, and subsequently, the purchasing power of currency is falling. The speaker uses the analogy of a bucket with a hole to describe how the value of money decreases over time due to inflation, which underscores the importance of investing to preserve and grow one's wealth.

💡Gratitude

Gratitude is the quality of being thankful; readiness to show appreciation for and to return kindness. The speaker suggests practicing gratitude as a way to maintain a positive outlook and recognize personal achievements, which can be a motivational factor in pursuing financial goals. This concept is part of developing a healthy mindset towards money and life achievements.

💡Abundance Mentality

An Abundance Mentality is the belief that there are plenty of opportunities and resources available, and that one is capable of achieving success and prosperity. The speaker contrasts this with a poverty mindset and advocates for developing an abundance mentality as a crucial step towards financial freedom. This mindset is about perceiving possibilities and potential for wealth creation, rather than being limited by current circumstances.

💡Wealth Creation

Wealth Creation refers to the process of generating wealth, typically through investment, business, or other financial strategies. The speaker's narrative is centered around wealth creation as the end goal of achieving financial freedom. They discuss various methods and strategies, such as investing in stocks and real estate, that contribute to building wealth over time.

Highlights

An immigrant's journey to financial freedom despite starting with no savings, English proficiency, or understanding of the US.

Quitting a high-paying job at Google to achieve location and time freedom.

The importance of knowing why you want financial freedom beyond just the financial aspect.

Different motivations for financial freedom, such as spending more time with family or working on meaningful projects.

The exercise of focusing on solutions rather than problems for achieving financial goals.

Defining financial freedom in terms of one's desired lifestyle and goals, not just a numeric income target.

The significance of location costs in determining financial freedom and the 30% income-to-rent rule.

How individual lifestyle choices impact the amount needed for financial freedom.

The impact of financial career goals on the path to financial freedom, such as early retirement plans.

Long-term life goals and personal ambitions as part of the financial freedom equation.

The importance of mindset shift from poverty mindset to abundance mentality for financial success.

The role of community and surrounding oneself with ambitious people in developing a financial mindset.

Practicing gratitude as a tool for maintaining a positive outlook and achieving financial goals.

The necessity of budgeting as a foundational step towards financial freedom.

The 50/30/20 rule for efficient budgeting: necessities, personal expenses, and savings.

The importance of starting to invest early to take advantage of compound interest.

Different types of investments to consider: stocks, crypto, and real estate.

The balance between risk and reward in investing and the importance of diversification.

Resources for learning about wealth creation and personal finance, including book recommendations.

The impact of personal appearance on income and the importance of presenting well.

Transcripts

for an immigrant like me who came to the

us as a teenager with my family with no

savings no knowledge of the English

language and no idea what I was getting

into becoming financially free just

doesn't seem possible so it always

surprises people when they find out that

I quit a sixf fig full-time job at

Google in my 20s to work for myself and

Achieve Financial Freedom around that

same time now what I wanted wasn't just

Financial Freedom I was getting paid

well at Google so my finances at that

point they were fine six figures stock

options the best health insurance and

benefits they even paid for my travel

and education so I could have stayed

there for a while and I could have just

saved up the reason why I quit what to

most people is a dream job is because I

wanted location and time freedom on top

of Financial Freedom I wanted to be able

to work from anywhere I wanted to travel

live anywhere I want and I wanted to be

able to take time off whenever I felt

like if I want to work 2 days a week I

can make that happen I'm My Own Boss I

make my own schedule I wanted total

freedom and that's why I worked really

hard towards becoming financially free

so when people tell me Alex I want to do

it too I want to be financially free

free like you I always ask why why do

you want to be financially free and it

seems like a dumb question right who

doesn't want to be financially free but

the truth is most people give me

different answers just a few days ago

one of my friends was visiting me and he

told me that he was sick of working he

wants to be financially free so

naturally I ask him why he says he hates

his job doesn't get enough days off so

he feels stuck going into the office

every day and then he said he's not

getting paid well he gets paid just

enough to cover his bills and have a

little left over for his social life so

he's he's not saving any money right now

he's 29 years old by the way so I think

he's really feeling that pressure of

turning 30 which is totally normal so I

asked him the same question one more

time why do you want Financial Freedom

because you've only told me the reason

why you hate your job not why you

actually want to be financially free so

he takes a few seconds to think about it

and then he finally told me that he

wants to spend more time with his family

who lives in Texas he lives in

California he wants to have a savings

account with enough funds to feel safe

because he wants to have his own family

soon and is scared that he won't be able

to provide for his family as a man by

the way that's really scary he wants to

work on meaningful things instead of

wasting time working miserable jobs that

don't really fulfill him and that is a

much better answer now we know what he's

looking for what his goals are instead

of the problem which is the job that he

hates now I like doing this exercise for

everything in my life a lot of times we

focus on the problem because that's all

we can see the bank account with low

funds the job that you don't like the

apartment with no air conditioning or

the relationship that you're in that

doesn't bring you Joy anymore those are

the problems right but I like to focus

on the solution what's the solution what

are your goals and so if you're someone

who wants Financial Freedom I ask you

why what are your goals everyone has

different motivations for Financial

Freedom and not only that everyone has

different definitions for Financial

Freedom too so what does it mean to you

does it mean being able to quit your job

or go part-time do you want to own a

house that's fully paid off do you want

to be able to give money to charity do

you want to be able to fly business

class every time you get on a plane or

do you want to fly private jets or maybe

you want to be able to hire a Chef or a

full-time assistant or babysitter to

free up your time so that you can spend

more time with your friends you need to

know why you need to visualize what you

want out of this only then will you be

able to create a plan because if you're

not sure of the goal you can't make a

solid plan and that means that you

should also know how much you need to

achieve that goal right because like I

told you I grew up in Brazil right if I

was making $55,000 a month in Brazil I

would be very well off that's about

27,000 hiis which is our Brazilian

currency and that goes really far there

I could own a big house drive a nice car

eat at great restaurants every week

invest money every month it's a lot of

money to put into perspective the top 1%

in Brazil you only need to make 20,000

hi a month to be in the top 1% so side

note if you get a remote job that pays

you 5 grand a month in USD Brazil might

be a good option for you but if you make

5 grand a month in Los Angeles Miami or

especially San Francisco or New York

City you're in trouble the average

monthly rental price for a studio apart

in New York is

$3,590 there's barely anything left over

and we won't even get into income tax

deductions and all that right so in

those places Financial Freedom is more

like making 20 $330,000 a month and even

then there are levels to this I have

friends in my building paying $30,000 a

month for a three-bedroom apartment this

is where a lot of people go wrong they

start by thinking their goal is to make

$100,000 a year but really that's just a

random number that looks good it's round

right but it's a madeup goal and it's

funny because today you might think that

a $100,000 salary is amazing but usually

as soon as you hit that goal you're

going to want more and you're going to

say well 100 isn't really enough because

I upgraded my apartment I have a

girlfriend now and she likes to travel

all of a sudden your expenses go up

because you're making more so you want

to make even more now now you're making

100K which was your goal initially and

you're still not financially free and

you think you need to make 150k to get

there but the same thing will happen

when you make that extra 50k I guarantee

you $100,000 a year won't seem like a

lot when you get there so you're going

to want more I remember when I got a job

I was making 5,000 a month at the time I

thought it was insane I felt so rich and

honestly within a few months of making

that money I wanted to make more what

happens is you end up realizing that

it's not about the number the amount

it's about the life you want to live the

feeling you get from being financially

free so instead of giving yourself a

numeric goal first like you know

$100,000 a year think of the feeling

that you want the life that you want to

live before you just randomly pick a

number for your dream income that will

finally make you financially free stop

and go through what I call

L life L is for location costs where you

live you need to consider the cost of

living in your specific area or in the

area that you want to live in I is for

your individual lifestyle this is your

desired lifestyle including you know

your car preferences like your shopping

you know restaurant Hobbies vacation

habits F is for financial career goals

so you have to decide if early

retirement is your goal how many hours a

week you want to work you know what kind

of work you want to do if any and E is

for your end goals so your long-term

life goals personal Ambitions like

starting a family big passion projects

that you want to pursue or maybe

supporting your friends and family

financially once you have those answers

then you can work backwards and figure

out how much you need in order to feel

financially free this is the new number

and it's now in line with your dream

life and and Financial Freedom right

instead of just a madeup number that

just sounds good like oh I need 100K a

year or I need a million in my bank

account so let's start with L location

costs if you want to be financially free

in a big city like LA or New York City

your cost of living is going to be high

right your rent let's say is $5,000 a

month which by the way that's just like

a one-bedroom like a nicer one-bedroom

apartment in New York City you should

aim to make at least

$200,000 a year to follow the golden

rule of rent costing 30% of your income

if you want to be financially free in a

small town and rents let's say 2500 then

your cost of living goes down so your

salary should be at least $100,000 a

year which follows the 30% of your

income for rent rule then we move on to

your individual lifestyle so your

spending habits and preferences in New

York City you're not going to need a car

which is great so you're saving a little

bit there but you're going to spend on

Ubers let's say right each ride is going

to be an average of $30 both ways that's

$60 let's say only three times a week

which is not a lot that's $180 per week

$720 per month if you like going out to

eat once a week good restaurants are not

cheap in the city you're going to spend

around $200 per dinner for two people so

that's $800 a month if you're going out

once a week just those expenses at up to

$78,200 then we add on supplies fund

spending on shopping let's say two

vacations a year that sounds nice your

$200,000 salary doesn't seem like much

anymore and if you have Financial career

goals to retire early guess what you

have to save you have to invest so

there's a lot more that you need to do

in order to to achieve your goal of

being financially free and last but not

least your end goals starting a family

passion projects helping out your family

financially your salary honestly it just

evaporates like this I just want to be

real with you because being financially

free isn't coming up with a round number

in your head like a million in the bank

100,000 a year you have to know what

kind of life you want then you start to

work backwards to achieve that goal so

many people make that mistake in the

very beginning and it's the reason why

they get lost along the way and if you

want to have enough money to live a

urious life with no care in the world no

looking at prices before you buy things

no checking your bank account every day

to make sure that you you know have

enough money to pay rent or go to a

restaurant or maybe go to a vacation if

that's what you want and I know a lot of

you do then here's what I recommend you

do step one is you need a mindset shift

look when I moved to the US it was the

first time that I realized that my

family didn't have money you know my

friends at school they wee nice clothes

I wear clothes from yard sales or in a

good day I would wear clothes from a

sale from a discount store which you

know they would sell like slightly

defective items but from good brands so

that was like I was so happy when I

could buy that my friend's parents they

drove nice cars car brands that I had

never even heard of we bought a car for

$500 so that we could get around they

bought extra food at the cafeteria every

lunch every breakfast I couldn't afford

that I got free lunch from the

government and I never spent a dollar

extra because I didn't want to burden my

parents with more bills now most people

in that situation either get jealous and

frustrated because others have what they

don't or they just feel bad for

themselves right they become depressed

they become unmotivated they kind of

just cave in I don't know why but I was

different seeing what was possible

seeing those cool cars the good food the

nice clothes the smile on their faces

man the way that my rich friends were

just happy right with not a care in the

world it fired me up I didn't know it at

the time but I learned years later that

thankfully even though I was technically

poor I didn't have what's called a

poverty mindset a poverty mindset is

when you believe you will never have

enough money that getting ahead is way

too difficult or that Financial Freedom

is just a fake dream people who are

stuck in this mindset believe they will

never make enough money to go on nice

trips to buy nice things to have a fat

savings account or an investment account

something that I've noticed too is that

people with a poverty mindset they tend

to hate people who make a high income

they call them cheaters they get upset

when they find out how much luxury items

cost and they act as if they would never

spend that much on a car or a watch or a

house as if they will ever get there

with that mindset they won't unless you

change your mindset you will never

believe that you can achieve it how

would you achieve something if you don't

even believe it yourself so you have to

rewire your brain you have to change

your thoughts your outlook on the world

and it starts with developing an

abundance mentality an abundance mindset

which means believing there are plenty

of opportunities out there and that you

are capable of seizing them that's why

you need to Sur round yourself with the

right people it's so important it's the

reason why I started an exclusive

Community for men who want to reach that

next level and by the way it's free to

join all right we have over 2,000

members and we're opening up another 500

spots this month but we only accept

members who are serious we're committed

to look better to earn more to elevate

themselves it's also first come first a

serve so if you want to join Men's image

lab for free hit the link in the

description below and let us know why

you want to be a part of our community

look Community is important and there

are three things that I found that have

the most impact on developing the right

Financial mindset one is consuming

success stories I started watching

videos TV shows reading books about

people who came from nothing and made it

big right and and it showed me that it's

possible right I wasn't watching fiction

things I was watching non-fiction I was

watching real stories right a couple of

months ago I met and shot a video with

Kevin oer if that immigrant kid from

Brazil at age 15 could see into the

future I think he would have a hard

attack sure I didn't have a poverty

mindset but I definitely didn't think

that anything that I've achieved today

was even possible possible back then

mostly because I didn't even know that

you could buy a watch for more than

$11,000 right $11,000 to me was so

foreign flying business class or private

I I didn't even know what that meant so

you have to learn what it means you have

to see that it's ahead of you that it's

it's palpable it's reachable the second

thing is you need to surround yourself

with ambitious people I started hanging

out with people who had Big Dreams and

were working towards these dreams their

energy was contagious right it made me

want to work harder to build the life

that I wanted instead of just dreaming

about it that's one of the biggest

reasons why I created Men's image lab

and number three you have to practice

gratitude I know it sounds like Kumbaya

whatever but it's so true man every week

I I like to write down three things that

I'm grateful for it keeps me grounded it

makes me happy you know when you have a

busy schedule you tend to kind of forget

right you don't really look back you

don't have time to look back and see all

the things that you've accomplished

whether they're big or small so be

grateful if you started a new job if you

learned a new skill if you made

advancements into your career or if you

made a new friend you know those are all

things that should make you proud that

feeling that Pride feeling grateful it

snowballs into more actions into more

WIS consistently doing these three

things will open your eyes to what's

actually truly possible but changing

your mindset that's just the first step

once you have that abundance mentality

you need to know what to do with it and

step two is something that I wish I

mastered way earlier in fact most people

start this step way too late in their

lives you need to budget it's not the

sexiest topic right but this is the

foundation that's going to set you up

for all the other steps for example when

I started working at Domino's Pizza at

14 years old I was making like $200 per

paycheck right and I remember for months

I would just save half of that if I

could $100 each time and eventually I

saved enough to buy my first car it was

a green 1995 VW Jetta I loved it I was

so proud of that car and saving up to

buy that car taught me a lesson to

always think about the future right

think about a goal and to not spend all

your cash cash right away on dumb things

my car cost less than $2,000 I saved for

a long time I could have blown all of

that money on closed very easily over

that period of you know a year that it

took for me to save that money so

spending less and saving your cash is a

necessity if you want to be financially

free according to a recent survey

actually 27% of American adults have no

emergency savings at all and another 28%

have less than $1,000 save that means

that over 50% of Americans are just one

unexpected expense away from financial

trouble from debt don't become a part of

that statistic I actually recommend you

follow a very simple easy rule to get

started 50 3020 rule if you want to

budget efficiently it's really simple

50% of your income goes to your

Necessities housing food utilities

things that you need to survive number

two then 30% goes to your personal

expenses you know the fun things like

clothes entertainment whatever makes you

happy the final 20% goes straight into

your savings and any debt repayment so

if you stick to this you're going to

start seeing a difference in your bank

account within a few months if not a few

weeks so you need to realize that

budgeting is not just about restricting

yourself right it sounds so boring it

sounds so frustrating to have to budget

to restrict myself it's actually about

giving yourself the freedom to spend on

what matters to you later on like my car

without guilt it's about taking control

of your money instead of letting it

control you so many people are

controlled by their income you have to

control your income and if you're only

making enough to cover your bill

no amount is too small to save start

wherever you can and then go from there

you want to focus on building The Habit

right building that muscle not just

chasing a savings amount like you have

to actually every month save a little

bit whatever you can but to become truly

wealthy the truth is like you know

savings they can only take you so far

this is because most savings account

they give you such low return in simple

terms the purchasing power of your money

is like actually decreasing over time

because of inflation so it's like having

a bucket with a little hole in it right

you're putting money in there but it's

slowly leaking and you're not even

realizing that so that's why step three

is one of the most important steps that

you can take and that is educating

yourself about investing look I'm no

financial advisor by any means all right

I had to learn it by myself I figured it

out I have a team now so I learn from my

team and I'm just passing on what I've

learned and the earlier you start the

better younger investors people in their

30s or below they actually earn about

15% higher returns when compared to

older investors and this is just because

they started earlier because they have

more time for compound interest to take

effect when I first started I was

terrified of losing money I was so

scared so I started small I worked I've

always worked really hard but when I was

younger I had no money to lose you know

so anything I put into my savings into

my investments I thought I cannot lose

this this is this is all I got you know

so I started as small as I could and I

would use apps like Robin Hood for

stocks coinbase for crypto and I just

got a feel for it you know just trying

to understand how things work and that's

okay starting small and investing

consistently over time is way better

than not starting at all so let's break

down three types of Investments that I

focused on the first is of course the

stock market this is usually where

people start you can buy individual

company stocks just don't spend all your

money on a specific stock because your

friend told you that it's going to blow

up all right make sure that you study it

consult with a professional if you can

or you might lose your investment crypto

is the second one and as you know this

is even more volatile right it's

exciting it's cool but it's risky

anything that's exciting like that tends

to be a little riskier so I started with

very small amounts on coin based and I

learned as I went three is real estate

which is obviously a great way to just

diversify your Investments one thing I

want to say is that there's always a

trade-off between risk and reward

generally speaking Investments with

higher potential returns like crypto for

example have higher risks lower risk

Investments like bonds or index funds

you know typically they offer less

returns but with less volatility I

started small I learned as much as I

could along the way and over time I got

more comfortable I started to Branch out

now I have invested Ms in stocks crypto

I own properties in La Miami I've done a

lot of Angel investments in startups and

I've even invested a ton of cash into

starting my own businesses which I know

will pay off in the end but I just want

to remind you again this didn't happen

overnight it took time a lot of research

tons of learning lot of mistakes so

that's why it's important to start early

so that you can learn and apply it as

you get older anyone can make money with

a lucky invest but the key is actually

to become a smart investor not just a

lucky one read books take courses follow

financial news it might seem a little

overwhelming at first but trust me it

gets easier and it's totally worth it I

I love it I nerd out on that stuff I

like checking what's going on on Zillow

checking the prices of properties around

me I think it's fun also remember that

diversification is crucial diversify

your portfolio don't put all your money

all your Investments all your eggs into

one basket spread your investment across

different types of assets balance out

the risk and always think longterm the

stock market it's going to go up but

it's also going to go down historically

it's always trended upwards over long

periods of time like I said I'm not a

financial adviser and what worked for me

might not work for everyone so always do

your own research and obviously consider

talking to a professional before you're

making any big financial decisions if

you want to know what resources that

have helped me the most you should

definitely check out these books I think

this would be super helpful if you want

to write these down or I'll probably

just list them Below in the description

to make it easy for you but I really

like the millionaire fast lane by MJ

Demarco this one completely changed how

I think about wealth creation really

like this book called $100 million

offers by Alex hosi if you want to know

how to create amazing offers this is

like the Bible for creating offers Rich

Dad Poor Dad was probably the first ever

Financial book that I've read it's by

Robert kosaki it's a classic and it's

going to shift your whole perspective on

money a lot of people on this book but

honestly it's a really good way to start

the obstacle is the way by Ryan holiday

it's not a financial book but it's a

book that will turn challenges into

opportunity never split the difference

it's by Chris Voss and he covers

negotiation skills that they're going to

serve you not just in business but in

life overall so highly recommend that

one too The Power of Habit by Charles

dug and grit by Angela Duckworth this

book really taught me the importance of

discipline the importance of

perseverance and achieving long-term

goals but don't stop just the books you

know dive into podcasts YouTube channels

online courses whatever works for you

the key is to make learning a daily

habit just keep upgrading yourself it's

like you're getting an upgrade every

single day like a software upgrade so

you're better and better and better and

you know what's Wild according to

research the way you look has an impact

on your income so if you want to make a

higher income you have to present well

you have to look your best so check out

this video right here on how to look

your best to boost your income your

confidence and to finally have the looks

that you've always wanted