How I Retired at 23 Years Old So You Can Just Copy Me

00:22:49
https://www.youtube.com/watch?v=QL4A2TYu5H4

Résumé

TLDRI denne videoen deler taleren en fem-trinns prosess for å oppnå økonomisk frihet og muligheten til å pensjonere seg tidlig. Prosessen tar 5 til 10 år og krever at man forstår hva man ønsker fra pensjonering, enten det er komfort, frihet eller status. Taleren forklarer hvordan man kan beregne hvor mye penger man trenger for å oppnå disse målene, og hvordan man kan bygge opp en formue gjennom investeringer i lavrisiko aktiva som S&P 500, statsobligasjoner og høyrentekontoer. Det legges også vekt på viktigheten av å redusere utgifter og øke inntektspotensialet ved å løse problemer for andre. Til slutt oppfordres seerne til å lære bort sine ferdigheter for å øke inntekten ytterligere.

A retenir

  • 💰 Forstå hva du ønsker fra pensjonering: komfort, frihet eller status.
  • 📈 Beregn hvor mye passiv inntekt du trenger for å være lykkelig.
  • 🛑 Reduser utgifter for å spare mer til pensjon.
  • 📊 Invester i lavrisiko aktiva som S&P 500 og statsobligasjoner.
  • 🚀 Øk inntektspotensialet ved å løse problemer for andre.
  • 📚 Lær bort ferdighetene dine for å øke inntekten.
  • ⏳ Det tar tid å bygge opp formue, vær tålmodig.
  • 💡 Pessimisme i planlegging kan føre til bedre resultater.
  • 🏦 Spre investeringene dine over flere banker og meglere.
  • 🧠 Fokuser på frugality og unngå unødvendige utgifter.

Chronologie

  • 00:00:00 - 00:05:00

    I videoen deler taleren sin fem-trinns prosess for å oppnå økonomisk frihet og muligheten til å pensjonere seg tidlig. Han understreker at det tar tid, vanligvis mellom 5 til 10 år, og advarer mot raske rikdomsmetoder som sjeldent fungerer. Det er viktig å definere hva slags livsstil man ønsker, enten det er komfort, frihet eller status, og deretter bestemme hvor mye passiv inntekt som trengs for å oppnå dette.

  • 00:05:00 - 00:10:00

    Taleren forklarer hvordan man kan beregne hvor mye kapital som trengs for å oppnå ønsket passiv inntekt, ved å bruke en 4% avkastning som standard. Han gir eksempler på hvor mye penger som kreves for ulike inntektsmål, og understreker viktigheten av å ha en solid økonomisk plan for å oppnå pensjonering.

  • 00:10:00 - 00:15:00

    Neste steg handler om å redusere utgifter og skatter. Taleren anbefaler å leve i lavskatteland for å akselerere prosessen med å bygge formue. Han snakker også om viktigheten av å være disiplinert med forbruket og unngå unødvendige utgifter, og hvordan hver dollar brukt kan forsinke pensjoneringen.

  • 00:15:00 - 00:22:49

    Til slutt diskuterer taleren hvordan man kan øke sin inntjeningspotensial ved å utvikle ferdigheter som løser problemer for andre. Han understreker at man må bli best i sitt felt for å kunne ta høyere priser, og at markedsføring og salg er avgjørende for å tiltrekke kunder. Han avslutter med å anbefale investering i lavrisiko, langsiktige eiendeler som S&P 500, statsobligasjoner og høyrentekontoer.

Afficher plus

Carte mentale

Vidéo Q&R

  • Hvor lang tid tar det å oppnå økonomisk frihet?

    Det tar vanligvis 5 til 10 år.

  • Hva er de tre typene pensjonering?

    Komfort, frihet og status.

  • Hvordan beregner jeg hvor mye penger jeg trenger for pensjonering?

    Du må bestemme hvor mye passiv inntekt du ønsker å ha hvert år.

  • Hvilke investeringer anbefales for lav risiko?

    S&P 500, statsobligasjoner og høyrentekontoer.

  • Hvordan kan jeg øke inntektspotensialet mitt?

    Ved å lære å løse problemer for andre og bli best i klassen.

  • Hva er 'psych tax'?

    Det refererer til utgifter som ikke er nødvendige, men som er drevet av ego eller ønsker.

  • Hvorfor er det viktig å redusere utgifter?

    Hver dollar brukt er en dollar som ikke går til pensjonering.

  • Hvordan kan jeg lære bort ferdighetene mine?

    Ved å lage kurs eller tilby tjenester til andre.

  • Hva er en 'bucket' i denne sammenhengen?

    Det representerer din nettoverdi og hvordan du bygger opp formuen din.

  • Hvorfor er det viktig å være pessimistisk i planlegging?

    Pessimisme kan føre til bedre planlegging og sikrere resultater.

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  • 00:00:00
    by the age of 23 I had enough money to
  • 00:00:02
    have the option to retire and be
  • 00:00:04
    financially free forever with no work
  • 00:00:06
    and to do that I followed a nice simple
  • 00:00:08
    five-step process that I'm going to
  • 00:00:09
    share with you in this video so you can
  • 00:00:11
    do the same let's get into it so it's
  • 00:00:12
    going to take you 5 to 10 years to do
  • 00:00:14
    this and that's the first thing you need
  • 00:00:15
    to understand is this is not something
  • 00:00:17
    we can rush I started at 18 and I got it
  • 00:00:19
    done by 23 which by an average standard
  • 00:00:22
    is not bad going it might take you up to
  • 00:00:24
    10 years it can take a decade of your
  • 00:00:26
    life to set you up for the other you
  • 00:00:27
    know 50 60 years that you might be
  • 00:00:29
    blessed to be on this planet for and you
  • 00:00:31
    can do it through some getrich quick
  • 00:00:34
    scheme like a crypto thing or a Ponzi
  • 00:00:35
    scheme or something but the chances of
  • 00:00:37
    that working are so incredibly slim
  • 00:00:40
    you've got to realize the people that
  • 00:00:41
    sell these shiny getrich quick in a year
  • 00:00:44
    schemes or whatever it worked maybe for
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    them but they are like .01% of people
  • 00:00:49
    that it actually worked for so we want
  • 00:00:51
    to do this properly and I want to give
  • 00:00:52
    you a way that actually guarantees that
  • 00:00:54
    you get rich slowly as opposed to
  • 00:00:56
    quickly Now by most standards 5 or 10
  • 00:00:58
    years to get rich and retire is
  • 00:01:00
    incredibly fast anyway so we need a bit
  • 00:01:02
    of sacrifice so the first thing we need
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    to do is understand what you want
  • 00:01:06
    because in order to retire different
  • 00:01:08
    people have different ideas of
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    retirement and so really there's going
  • 00:01:11
    to be three different types of person
  • 00:01:13
    watching this video and you need to
  • 00:01:15
    decide which one you are so you either
  • 00:01:17
    want Comfort Freedom or status what I'm
  • 00:01:19
    going to do is give you some numbers
  • 00:01:20
    here and I want you to assume that these
  • 00:01:22
    numbers are hitting your bank account
  • 00:01:24
    every single year after tax with no work
  • 00:01:28
    okay so Comfort is going to be around
  • 00:01:30
    50k a year freedom is going to be around
  • 00:01:32
    100K a year and status is probably going
  • 00:01:34
    to be 250k a year plus and so this money
  • 00:01:37
    is coming in imagine this this money is
  • 00:01:39
    coming into your bank account with 0%
  • 00:01:41
    tax and zero hours of work it just it
  • 00:01:43
    just magically appears in your bank
  • 00:01:45
    account for you to spend okay now you
  • 00:01:47
    need to decide right now how much money
  • 00:01:50
    do you need to basically be happy and to
  • 00:01:52
    feel like you could retire and so for
  • 00:01:54
    some of you it's going to be Comfort
  • 00:01:56
    this is basically you've got a nice
  • 00:01:58
    house paid off you've got some kids
  • 00:02:00
    and you're just living a comfortable
  • 00:02:01
    life making 45,000 a month dollars a
  • 00:02:04
    month Euros a month passively and you're
  • 00:02:06
    not like Rich by any stretch of
  • 00:02:08
    imagination but you're comfortable
  • 00:02:09
    enough to live a life with no Financial
  • 00:02:11
    stress the second one is freedom this is
  • 00:02:13
    where you might want to travel and you
  • 00:02:15
    want a little bit more freedom to
  • 00:02:16
    basically go where you want whenever you
  • 00:02:18
    want with who you want travel the world
  • 00:02:19
    etc etc which is a little bit more
  • 00:02:21
    expensive and then the third one is
  • 00:02:23
    status where if you have comfort and
  • 00:02:26
    freedom obviously have status comes with
  • 00:02:27
    that you can have status as an add-on if
  • 00:02:30
    that makes sense and status is when
  • 00:02:31
    you're concerned with the Instagram
  • 00:02:33
    image and the suits and the watches and
  • 00:02:35
    the cars and the yachts and the Jets and
  • 00:02:37
    all this stuff and that's where you
  • 00:02:38
    might need more right maybe upwards of
  • 00:02:40
    500k a year depending on how how big
  • 00:02:42
    your ego is right so what you need to do
  • 00:02:44
    right now is I want you to just think of
  • 00:02:46
    this number in your head write down how
  • 00:02:48
    much money you want to make per year
  • 00:02:51
    passively after tax that would make you
  • 00:02:54
    happy and that's going to be based on
  • 00:02:56
    these three things okay I'm going to do
  • 00:02:58
    100,000 a year just for the sake of this
  • 00:03:01
    video to keep it simple you might need
  • 00:03:02
    more you might need less but that's the
  • 00:03:04
    thing once we know this figure we know
  • 00:03:06
    the conditions for our retirement so my
  • 00:03:09
    figure when I was 18 is I wanted to be
  • 00:03:11
    able to make about
  • 00:03:12
    $833 for per month in passive income um
  • 00:03:17
    which I was able to achieve by sort of
  • 00:03:18
    23 24 and so once you've defined what
  • 00:03:20
    you want and you should have this number
  • 00:03:22
    in your head now with no work and no tax
  • 00:03:25
    we can start getting some some work done
  • 00:03:27
    here so what we need to do is we need to
  • 00:03:28
    figure out what is the this number 4%
  • 00:03:31
    off because in order for us to make this
  • 00:03:33
    money and have this money enter our bank
  • 00:03:35
    account we need to have something called
  • 00:03:36
    what I would call a stack okay which is
  • 00:03:39
    basically a sum of money or a sum of
  • 00:03:41
    assets liquid assets lowrisk asset
  • 00:03:43
    classes that basically pay you okay and
  • 00:03:47
    I'm going to explain how to get them in
  • 00:03:48
    a second for me
  • 00:03:50
    $100,000 4% of that well that is 4% of
  • 00:03:54
    2.5 million what this means is that if I
  • 00:03:56
    want to make 100K a year passively I
  • 00:03:58
    need to have 2.5 $5 million at a 4%
  • 00:04:01
    interest rate or 4% Roi to make this and
  • 00:04:05
    so for you if you wanted 200 care a year
  • 00:04:06
    it' be 5 million if you wanted 300 K A
  • 00:04:08
    year it's going to be 7 7.5 million if
  • 00:04:10
    you want 50k a year it's 1.25 million
  • 00:04:12
    okay what this does is this illuminates
  • 00:04:14
    the number that we need to aggregate
  • 00:04:17
    over the next decade or 5 years in order
  • 00:04:19
    for this to happen Okay so once you know
  • 00:04:21
    this now you know your conditions and
  • 00:04:24
    I'm going to put this here now you know
  • 00:04:25
    your conditions for retirement which
  • 00:04:28
    means if you had this amount of money at
  • 00:04:31
    a very low risk very long-term return
  • 00:04:34
    rate of 4% you're get 100K now the
  • 00:04:36
    reason you might be thinking but Charlie
  • 00:04:38
    I know that some asset classes and some
  • 00:04:40
    it's possible to get like a 7% return on
  • 00:04:42
    investment or a 6% return on investment
  • 00:04:45
    on money people talk about Like Houses
  • 00:04:47
    having a 7% return certain stocks having
  • 00:04:49
    a 7% return I'm assuming a average
  • 00:04:53
    return on investment of 5% and then what
  • 00:04:55
    I'm doing I'm taking 20% off of this to
  • 00:04:58
    get 4% why do we remove the 20% tax so
  • 00:05:03
    if you are living in a tax country
  • 00:05:05
    you're going to get taxed on something
  • 00:05:06
    called capital gains at least that's how
  • 00:05:07
    it works in the UK and certain countries
  • 00:05:09
    are going to have different income tax
  • 00:05:10
    brackets and stuff like that depending
  • 00:05:12
    on how much you make so I'm assuming
  • 00:05:14
    that you're going to be taxed at least
  • 00:05:15
    20% on all the money you make because
  • 00:05:17
    it's capital gains and not income in
  • 00:05:19
    some countries it's going to be less
  • 00:05:20
    than it would be if it was cap if it was
  • 00:05:21
    actual you know income but you can play
  • 00:05:23
    around with this and the reason that
  • 00:05:24
    we're not assuming a 7% return or a 6%
  • 00:05:27
    return is purely for pessimism the more
  • 00:05:29
    pessimist IC we are with our planning
  • 00:05:30
    the better it goes usually pessimism is
  • 00:05:33
    prudent planning okay so now that we've
  • 00:05:35
    got your number in place we're going to
  • 00:05:36
    move on to an idea that I call the
  • 00:05:38
    bucket now before we get into step two
  • 00:05:41
    which is how to actually make the money
  • 00:05:42
    and what asset classes to use all that
  • 00:05:44
    really important stuff let me just
  • 00:05:46
    explain a concept to you okay making
  • 00:05:47
    money and retiring imagine you have a
  • 00:05:50
    bucket that looks like this with a nice
  • 00:05:51
    handle and on this bucket we have a
  • 00:05:53
    little faucet like this let's just
  • 00:05:55
    pretend this is a faucet and then over
  • 00:05:57
    here we have what I'm want to call a
  • 00:05:59
    Reservoir French term for store of water
  • 00:06:02
    and in this Reservoir we have a lot of
  • 00:06:04
    water now the way this works is the
  • 00:06:06
    reservoir that we have highlighted here
  • 00:06:09
    represents a market it represents a
  • 00:06:11
    market or a niche so to speak right in
  • 00:06:13
    business what we're looking to do in
  • 00:06:15
    order to make money is we are extracting
  • 00:06:18
    money or in this case water from the
  • 00:06:21
    reservoir and we are trying to pour as
  • 00:06:23
    much as possible into our bucket now
  • 00:06:25
    your bucket is basically your net worth
  • 00:06:28
    what we're doing is you know slowly
  • 00:06:30
    we're going to start building this up at
  • 00:06:31
    the beginning have a little bit and then
  • 00:06:32
    a little bit more a little bit more the
  • 00:06:34
    size of the bucket depends on the size
  • 00:06:36
    of the amount of money aggregated that
  • 00:06:38
    we just discussed so in this case this
  • 00:06:40
    would be a $2.5 million bucket okay and
  • 00:06:44
    so what that means is if this bucket was
  • 00:06:46
    full to the brim all the way up and we
  • 00:06:48
    had all the money in the world for 2.5
  • 00:06:50
    million then it's got you know then
  • 00:06:52
    we're good and then basically the cool
  • 00:06:54
    thing about this bucket is imagine it's
  • 00:06:56
    a magical bucket and basically what
  • 00:06:58
    happens every single year year is this
  • 00:07:00
    bucket magically spits out a little bit
  • 00:07:02
    of water it spits out 4% of its contents
  • 00:07:05
    but that is replaced year-over year so
  • 00:07:07
    you never so it's not like you drain the
  • 00:07:09
    bucket this thing is self- sustaining so
  • 00:07:11
    every time it spits out 4% it it just
  • 00:07:14
    basically goes back to where it was
  • 00:07:15
    before it 2.5 million and this 4% is
  • 00:07:18
    basically what you can live off and this
  • 00:07:20
    is what you can spend and this is why we
  • 00:07:23
    need to decide how much money we want
  • 00:07:24
    because then we calculate 4% of that and
  • 00:07:26
    that's what we live off and this is why
  • 00:07:27
    it can take up to a decade for this to
  • 00:07:30
    happen because well we need 2.5 million
  • 00:07:32
    right now the sad thing the sad thing is
  • 00:07:35
    this all looks great but there's two
  • 00:07:38
    problems at the bottom here we have
  • 00:07:40
    holes not good what a lot of people have
  • 00:07:42
    in their financial lives is they have
  • 00:07:43
    multiple holes in their bucket and it
  • 00:07:46
    does not matter how much money they can
  • 00:07:48
    get from the market or how much water
  • 00:07:50
    they can take from the reservoir an
  • 00:07:51
    equivalent amount always seems to flow
  • 00:07:53
    out and this is something um that we
  • 00:07:55
    need to address and that's kind of how
  • 00:07:56
    we're going to move on to the next step
  • 00:07:58
    here and so step two before we talk
  • 00:08:00
    about how to earn the money and I'm
  • 00:08:02
    going to walk you through a very simple
  • 00:08:03
    framework that's going to blow your mind
  • 00:08:05
    that will help you make these millions
  • 00:08:06
    we need to spend less okay the point I'm
  • 00:08:09
    making is that if you learn how to make
  • 00:08:11
    lots of money but your ego and your
  • 00:08:14
    Taxation and your lifestyle inflates
  • 00:08:17
    with that money it means that it doesn't
  • 00:08:18
    matter how much you make you're always
  • 00:08:19
    going to spend the equivalent and so
  • 00:08:21
    really there's two places that we can
  • 00:08:24
    fight the Battle of spending less the
  • 00:08:26
    first one is Taxation and the second one
  • 00:08:29
    is life style okay and your lifestyle is
  • 00:08:32
    almost always going to be predicated on
  • 00:08:35
    your ego or your desires or something
  • 00:08:39
    like that and I call this psych tax
  • 00:08:41
    because what this is when you spend
  • 00:08:43
    money on yourself on something that
  • 00:08:45
    isn't essential like clothing food water
  • 00:08:48
    relationships Etc when you spend money
  • 00:08:50
    on yourself it's like your your
  • 00:08:52
    psychology is taxing your bank account
  • 00:08:54
    because it wants something it needs
  • 00:08:55
    something it's spending money to get
  • 00:08:56
    something for itself right well we'll
  • 00:08:58
    attack this in one of two ways the first
  • 00:08:59
    thing is the tax thing it is
  • 00:09:01
    significantly easier for you to retire
  • 00:09:03
    in the next 10 years if you live in a
  • 00:09:05
    low or no tax country you don't have to
  • 00:09:08
    move but I strongly suggest you do
  • 00:09:10
    because once you apply my earning
  • 00:09:12
    potential technique that I'm going to
  • 00:09:13
    give you in a second you can make money
  • 00:09:15
    you can make hundreds of thousands of
  • 00:09:16
    dollars a year if not millions of
  • 00:09:17
    dollars a year but if you're paying tax
  • 00:09:19
    it's just slower so whether you decide
  • 00:09:21
    to move to a low tax country or stay on
  • 00:09:22
    your own depends on the speed at which
  • 00:09:24
    you want to get rich and retire so let's
  • 00:09:26
    say for example that you live in the UK
  • 00:09:28
    and therefore you're paying a 25% profit
  • 00:09:31
    tax on everything you make which is true
  • 00:09:33
    by the way it makes me sick to my
  • 00:09:34
    stomach which is why I live in Dubai and
  • 00:09:36
    a 40% income tax let's just say that to
  • 00:09:38
    live in an average European country or
  • 00:09:39
    certain parts of the world let's just
  • 00:09:40
    say it's a 40% tax right what this means
  • 00:09:42
    is it's just going to take you 40%
  • 00:09:45
    longer to get rich and retire so if by
  • 00:09:47
    living in a low tax country it could
  • 00:09:49
    have taken you 10 years if you live in a
  • 00:09:50
    high tax country it might take you 14 15
  • 00:09:53
    16 years if that makes sense and that's
  • 00:09:55
    the argument tax is it's not about
  • 00:09:57
    paying the tax it's about how quickly
  • 00:09:58
    you can ACC accumulate enough wealth in
  • 00:10:00
    order for you to move now the second
  • 00:10:02
    thing is this lifestyle thing and this
  • 00:10:03
    this is just basic discipline don't
  • 00:10:05
    spend money on stuff you don't need what
  • 00:10:07
    you want to do is you want to start
  • 00:10:09
    taking pride in frugality i' I've made
  • 00:10:12
    nearly $30 million and accumulated a lot
  • 00:10:14
    of that in my bank and I still wear a
  • 00:10:17
    Casio this this t-shirt is from River
  • 00:10:18
    Island it cost like20 right I take a lot
  • 00:10:21
    of pride in frugality and in having lots
  • 00:10:24
    of money but not spending it um with the
  • 00:10:26
    one exception of my house but you we can
  • 00:10:29
    all allow for some cope right but don't
  • 00:10:31
    spend money the every time every dollar
  • 00:10:33
    you spend is a dollar you didn't save
  • 00:10:34
    which is a dollar that is is taking away
  • 00:10:36
    time from you retiring the whole
  • 00:10:38
    objective here is to compress the time
  • 00:10:40
    frame that it takes for us to retire and
  • 00:10:43
    every time you know if we have a dollar
  • 00:10:45
    this dollar can either go to your
  • 00:10:47
    retirement or it can go to your ego
  • 00:10:49
    every dollar you spend with the
  • 00:10:50
    exception of imperative living
  • 00:10:52
    circumstances like rent like food like
  • 00:10:55
    water like just basic necessities
  • 00:10:57
    everything you spend it it can either go
  • 00:10:59
    to your retirement or it can go to your
  • 00:11:01
    psychology and your ego okay so let's
  • 00:11:04
    not now this isn't to say that you can't
  • 00:11:06
    have a bit of fun have a good time but
  • 00:11:08
    until your earning potential is
  • 00:11:09
    significantly greater than your spending
  • 00:11:11
    potential which is basically how much
  • 00:11:12
    you spend don't spend a thing now step
  • 00:11:14
    number three is your earning potential
  • 00:11:16
    okay your EP earning potential and this
  • 00:11:19
    is basically how much potential you have
  • 00:11:22
    to earn money okay and this is
  • 00:11:25
    incredibly straightforward because the
  • 00:11:26
    problem is is a lot of people have very
  • 00:11:28
    low earning potential and what that
  • 00:11:29
    means is their income caps at 20 30 40
  • 00:11:32
    50k 100K a year even 100K a year is not
  • 00:11:35
    a strong enough earning potential for
  • 00:11:37
    you to retire in the next 10 years
  • 00:11:39
    because let's just do the math MAP let's
  • 00:11:40
    say that you're a lawyer or a doctor or
  • 00:11:42
    an engineer and you're making 100K a
  • 00:11:44
    year and you work for 10 years your net
  • 00:11:46
    income is still only going to be a
  • 00:11:48
    million dollar which might sound
  • 00:11:50
    ridiculous like it's only a million doll
  • 00:11:51
    but that's not enough for you to get
  • 00:11:53
    what you need and what you want to
  • 00:11:54
    retire in the time frame which you want
  • 00:11:55
    to do it right so we need to have
  • 00:11:57
    earning potentials of three 4 500k a
  • 00:12:00
    year so that we can actually compress
  • 00:12:02
    this time frame and get it done right so
  • 00:12:05
    how do we increase earning potential
  • 00:12:07
    well it's very straightforward it's
  • 00:12:08
    skill set but there's two things you
  • 00:12:09
    need to know okay there's two skills
  • 00:12:12
    that you need to know skill one and
  • 00:12:13
    skill two let me explain how money works
  • 00:12:16
    okay so money is made that's what we
  • 00:12:18
    want to do we want to make so money is
  • 00:12:20
    made when value is created so what this
  • 00:12:22
    means is if we want to make money what
  • 00:12:25
    is the inverse flow of money if we want
  • 00:12:26
    to take money from the market what do we
  • 00:12:28
    have to give to the market in return
  • 00:12:30
    well it's value how the hell do you
  • 00:12:31
    create value well value is created when
  • 00:12:33
    pain is alleviated because if you assess
  • 00:12:36
    pretty much any financial transaction in
  • 00:12:40
    the history of the world the only reason
  • 00:12:42
    we buy things is to is usually to
  • 00:12:44
    alleviate pain if we go even further
  • 00:12:45
    with this how do we alleviate pain well
  • 00:12:48
    we alleviate pain when we solve problems
  • 00:12:51
    if you want to make money and if you
  • 00:12:52
    want to drastically increase your
  • 00:12:54
    earning potential you're not going to
  • 00:12:55
    get there with a normal job or even a
  • 00:12:57
    normal career or even a good career that
  • 00:12:58
    would be considered you know Mill like a
  • 00:13:01
    100 Grand a year 200 Grand a year how do
  • 00:13:02
    we do it well to make money we have to
  • 00:13:04
    add value to add value we have to
  • 00:13:05
    alleviate pain and the way we do this by
  • 00:13:07
    solving problems and so what we need to
  • 00:13:09
    do is learn how to solve a problem and
  • 00:13:11
    so what you need to understand is you're
  • 00:13:12
    going to have a business or a career or
  • 00:13:14
    something doing this and in this
  • 00:13:15
    business you're going to be serving
  • 00:13:17
    people because you know where do we get
  • 00:13:19
    money from we get it from other people
  • 00:13:20
    right so these are people and basically
  • 00:13:22
    in business we have what is called a
  • 00:13:24
    niche which is a aggregate or a group of
  • 00:13:26
    people that have Affinity through
  • 00:13:28
    identity for example it's a group of
  • 00:13:29
    people like content creators or authors
  • 00:13:32
    or um young mums or pregnant women or
  • 00:13:36
    you know I'm going to stop using female
  • 00:13:37
    examples but you get my point right
  • 00:13:39
    group of people have affinity and when
  • 00:13:41
    you have a niche which could be anything
  • 00:13:42
    from gym owners to League of Legends
  • 00:13:44
    players to people that wear ovar
  • 00:13:46
    headphones right these people have
  • 00:13:49
    problems and usually there's like a
  • 00:13:52
    number one problem and this is basically
  • 00:13:55
    the most painful problem that this KNE
  • 00:13:57
    shares and the cool thing about making
  • 00:13:59
    is if someone's got a painful problem
  • 00:14:01
    they'll pay to solve it because the
  • 00:14:02
    easiest way to add value is to remove
  • 00:14:04
    pain the whole reason human beings do
  • 00:14:06
    anything is usually pain avoidance and
  • 00:14:08
    so it's a pretty good justification to
  • 00:14:10
    spend money is alleviating pain for
  • 00:14:12
    example if you're hungry really hungry
  • 00:14:13
    you'll buy a sandwich and the hungrier
  • 00:14:15
    you are I.E the more pain you're in the
  • 00:14:17
    more money you will spend on that
  • 00:14:18
    sandwich if you don't trust me go four
  • 00:14:20
    days without go two days without eating
  • 00:14:23
    and then imagine there's only one shop
  • 00:14:25
    within 100 miles of you they could
  • 00:14:27
    charge you 100 bucks for a sandwich and
  • 00:14:28
    you it because you're so starving right
  • 00:14:30
    so we find number one problem and then
  • 00:14:33
    your job and this is the F this is the
  • 00:14:35
    easiest FastTrack way to increase your
  • 00:14:37
    earning potential to make these millions
  • 00:14:38
    of dollars your job is to become number
  • 00:14:43
    one and what this means is you have to
  • 00:14:45
    basically be the best in the world at
  • 00:14:47
    solving this problem now you might ask
  • 00:14:49
    me well why do I have to be the best in
  • 00:14:51
    the world the reason you have to be the
  • 00:14:52
    best in the world is because of price
  • 00:14:54
    because when you are number one and when
  • 00:14:56
    you're the best in the world you can
  • 00:14:58
    charge the highest prices and remember
  • 00:15:01
    what we're trying to do here is compress
  • 00:15:03
    is compress the time frame in which you
  • 00:15:06
    basically get rich and that you can
  • 00:15:07
    retire if you want to compress that time
  • 00:15:09
    frame it means we need to make as much
  • 00:15:10
    money as fast as possible and the more
  • 00:15:12
    you charge per customer the less
  • 00:15:14
    customers you need to get to make more
  • 00:15:16
    money so for example if if one person
  • 00:15:18
    charges $1,000 and another person
  • 00:15:20
    charges $2,000 then the person charging
  • 00:15:22
    $2,000 only needs five customers but the
  • 00:15:24
    person charging $1,000 needs 10 and it's
  • 00:15:27
    way easier to get five customers than it
  • 00:15:28
    is 10 and the only way you can justify
  • 00:15:31
    higher prices than the average
  • 00:15:32
    competitor you have is by being better
  • 00:15:34
    than them okay but the story doesn't
  • 00:15:36
    stop there because not only do you need
  • 00:15:38
    to have your skill in terms of being
  • 00:15:40
    good at one specific thing and it could
  • 00:15:42
    literally be anything from helping um
  • 00:15:45
    people who do horse show jumping do
  • 00:15:47
    their first like fancy show jump that I
  • 00:15:50
    weigh out of my depth with this example
  • 00:15:52
    but you know what I mean right it could
  • 00:15:53
    be helping League of Legends players
  • 00:15:55
    reach Challenger rank from Diamond 2 i'
  • 00:15:57
    show my age there play League of Legends
  • 00:15:59
    regretfully right but skill you need to
  • 00:16:02
    learn your skill become number one and
  • 00:16:04
    then charge as much as you possibly can
  • 00:16:07
    but then the second thing that you need
  • 00:16:09
    is you need to know marketing or you
  • 00:16:11
    need to know sales because it's not good
  • 00:16:15
    enough to just be the best and to have
  • 00:16:17
    the highest prices if you want people to
  • 00:16:19
    buy from you and trust you you either
  • 00:16:21
    need to know marketing or you need to
  • 00:16:22
    know sales and so what you're going to
  • 00:16:24
    do is I'm not confining you to one model
  • 00:16:26
    it doesn't have to be just dropshipping
  • 00:16:28
    or soft software or consulting or
  • 00:16:30
    service-based business you can do any
  • 00:16:32
    business but these businesses are going
  • 00:16:34
    to break into two different categories
  • 00:16:36
    and these products that you sell can be
  • 00:16:37
    broken into two categories and that is
  • 00:16:39
    that they're either sold through
  • 00:16:40
    marketing or they're sold through sales
  • 00:16:43
    and what I mean by this is products that
  • 00:16:44
    can be sold through marketing are sold
  • 00:16:46
    on a website exclusively without human
  • 00:16:48
    interaction and products sold through
  • 00:16:50
    sales are sold through human interaction
  • 00:16:52
    like on a zoom sales call or a phone
  • 00:16:54
    call or an inperson meeting if that
  • 00:16:55
    makes sense and so once you know what
  • 00:16:58
    you're going to do and which Market
  • 00:16:59
    you've picked and which Niche you've
  • 00:17:00
    picked and which problem you're picking
  • 00:17:02
    and you'll know like okay I'm solving it
  • 00:17:04
    by this and you it should then become
  • 00:17:05
    pretty apparent to you whether you need
  • 00:17:07
    to get customers through marketing or
  • 00:17:08
    sales here's the cool thing about
  • 00:17:10
    earning potential if you know how to get
  • 00:17:14
    people results and solve the problem and
  • 00:17:17
    you know how to Market to them or sell
  • 00:17:20
    them now your earning potential has just
  • 00:17:23
    skyrocketed by just learning those two
  • 00:17:26
    things literally by learning how to
  • 00:17:27
    solve a painful problem and learning to
  • 00:17:29
    sell that solution your earning
  • 00:17:30
    potential goes from you know maybe 50k
  • 00:17:33
    year tops depending on your
  • 00:17:35
    qualifications to like 500 care a year
  • 00:17:37
    and I know this to be true because when
  • 00:17:39
    I was 23 I was making a million dollars
  • 00:17:41
    a year actually was was like nearly $2
  • 00:17:43
    million a year at that point by selling
  • 00:17:46
    um a real Niche product that helped
  • 00:17:49
    micro gyms in the United States with
  • 00:17:52
    lead lead acquisition that was what I
  • 00:17:54
    did and I've got I've got loads of
  • 00:17:56
    friends um that trust me I've got loads
  • 00:17:58
    of friends I've I've Got Friends that
  • 00:17:59
    sell all sorts of stuff I've got a guy
  • 00:18:01
    that I know who makes like 30k a month
  • 00:18:03
    and what he does is he provides divorce
  • 00:18:05
    lawyers with personal with with personal
  • 00:18:08
    virtual assistance to manage a certain
  • 00:18:10
    type specific type of paperwork and so
  • 00:18:12
    your Niche can be anything and you can
  • 00:18:14
    make you don't have to create a Facebook
  • 00:18:16
    or you don't have to create some new
  • 00:18:17
    thing or be Elon Musk or create some
  • 00:18:19
    massive idea you just need to find a
  • 00:18:21
    problem become the best in the world at
  • 00:18:22
    solving that and then get really good at
  • 00:18:24
    communicating that you can solve that
  • 00:18:25
    which is sales or marketing and then
  • 00:18:27
    bang it's over now now that we've talked
  • 00:18:29
    about how to increase your earning
  • 00:18:30
    potential and how to stop basically
  • 00:18:32
    spending and where your money is going
  • 00:18:33
    we're going to talk about the last thing
  • 00:18:35
    which is basically where to actually
  • 00:18:36
    invest the money you make okay and so
  • 00:18:38
    what we need to do is we're building a
  • 00:18:41
    lowrisk
  • 00:18:42
    long-term asset plan and we want
  • 00:18:45
    low-risk long-term assets and really
  • 00:18:46
    there's three that I invest in that that
  • 00:18:48
    I think you should probably invest in as
  • 00:18:50
    well and this is not Financial advice by
  • 00:18:52
    the way because I'm actually I'm I'm
  • 00:18:53
    particularly illiterate when it comes to
  • 00:18:55
    financial advice so do not take this
  • 00:18:56
    financial advice this is what I do okay
  • 00:18:59
    so I invest in one the S&P 500 which is
  • 00:19:03
    the collection and an aggregate bunch of
  • 00:19:05
    all the best companies in the world very
  • 00:19:07
    unlikely that they're all going to fail
  • 00:19:08
    at once so it's quite safe the second
  • 00:19:10
    thing is USA treasury bonds and then the
  • 00:19:13
    third thing is high interest Banks so
  • 00:19:17
    the S&P 500 US Treasury bonds and high
  • 00:19:19
    interest Banks and the S&P 500 you can
  • 00:19:22
    you can get through a broker US Treasury
  • 00:19:23
    bonds I think Brokers do this but some
  • 00:19:25
    banks have this as well and then High
  • 00:19:26
    interest bank accounts you can get you
  • 00:19:28
    know banks will give you 4% 5% S&P 500
  • 00:19:31
    average return of like 6 7% USA treasury
  • 00:19:34
    bonds could be like four 3 or 5% High
  • 00:19:36
    interest Banks once again 4 35% it's
  • 00:19:38
    going to average out at that sort of
  • 00:19:40
    like four 5% Mark which is kind of what
  • 00:19:42
    we're going for we're not buying houses
  • 00:19:44
    and property because the thing with
  • 00:19:45
    buying a house and renting it out is now
  • 00:19:47
    you've got another business and yeah it
  • 00:19:50
    could be a seven or 8% return but the
  • 00:19:52
    issue with owning property is now you've
  • 00:19:54
    got to think about the property and what
  • 00:19:56
    that does is it takes time away from
  • 00:19:57
    your earning potential in your business
  • 00:19:59
    which is your main source of income so
  • 00:20:00
    you split your focus you end up making
  • 00:20:02
    less so you want these lowrisk longterm
  • 00:20:05
    long long-term passive asset classes
  • 00:20:07
    which is why we need significantly more
  • 00:20:08
    money because we're not actively
  • 00:20:09
    investing okay and if you're wondering
  • 00:20:11
    you know what Brokers you can use in
  • 00:20:14
    terms of where you can you know um buy
  • 00:20:16
    these assets or whatever the hell um
  • 00:20:18
    first of all you want your banking
  • 00:20:19
    structure you kind of want to have like
  • 00:20:21
    four or five banks because if you have
  • 00:20:23
    like $2 $3 million you want to spread
  • 00:20:25
    that across like five or six maybe even
  • 00:20:27
    seven Banks but the same goes for your
  • 00:20:29
    Brokers as well so there's lots of
  • 00:20:31
    different Brokers and I'm not
  • 00:20:32
    recommending these but I'm not going to
  • 00:20:33
    tell you which ones I use cuz I don't
  • 00:20:35
    know actually what I can and cannot say
  • 00:20:37
    based on financial advice but you can
  • 00:20:39
    use eoro you can use um 212 trading you
  • 00:20:42
    can use Fidelity you can use interactive
  • 00:20:45
    brokers once again these are not
  • 00:20:46
    recommendations these are just off top
  • 00:20:47
    of my head interactive brokers um
  • 00:20:50
    there's one called Sara you can just
  • 00:20:52
    Google any most most Brokers are pretty
  • 00:20:54
    decent right but you need to make sure
  • 00:20:55
    you're looking at their fees and
  • 00:20:56
    everything I'm not telling you which
  • 00:20:57
    ones to use up to you the final thing
  • 00:20:59
    that I'm going to leave you with is how
  • 00:21:01
    to basically um 10x your earning
  • 00:21:03
    potential and this is kind of cool and
  • 00:21:05
    and this is a pretty interesting step
  • 00:21:07
    five basically is 10x your EP how do you
  • 00:21:10
    10x your earning potential you teach the
  • 00:21:13
    second that you figure out how to make
  • 00:21:15
    consistent steady income with your skill
  • 00:21:18
    what you can start doing is teaching
  • 00:21:19
    other people how to make money with that
  • 00:21:21
    skill you've probably seen lots of gurus
  • 00:21:23
    online flexing Lamborghinis and watches
  • 00:21:25
    and houses and stuff you know they all
  • 00:21:27
    sell courses it's always a course right
  • 00:21:29
    it could be Drop Shipping course could
  • 00:21:30
    be an SMA course could be an affiliate
  • 00:21:31
    marketing course could be a real estate
  • 00:21:32
    investing course and the question that
  • 00:21:33
    pops into your mind is well if you're so
  • 00:21:35
    good why are you selling a course on how
  • 00:21:37
    to do it instead of making money through
  • 00:21:38
    it and that is because I say I was going
  • 00:21:40
    to say they we I also sell courses but
  • 00:21:42
    it's a higher ticket right we understand
  • 00:21:44
    that it's it's easier to make money and
  • 00:21:45
    it's way more profitable to teach how to
  • 00:21:47
    make money than it is to actually make
  • 00:21:48
    it yourself is kind of crazy but it
  • 00:21:50
    works and instead of judging it you
  • 00:21:52
    should use it you can't beat them join
  • 00:21:54
    them if you're in a gold rush you don't
  • 00:21:56
    dig for gold you sell shovels because
  • 00:21:58
    there's no guarantee you're going to
  • 00:21:59
    find the gold but there's a guarantee
  • 00:22:00
    that there's going to be people trying
  • 00:22:01
    to find it and so what you want to do is
  • 00:22:03
    as soon as you achieve you know a good
  • 00:22:05
    income selling your skill if it applies
  • 00:22:07
    go to the big Market go to the bizop
  • 00:22:09
    market business opportunity Market is
  • 00:22:10
    what we call it and that way you know
  • 00:22:12
    you can just basically blow up your
  • 00:22:14
    income because the the total available
  • 00:22:16
    Market addressable to you just increases
  • 00:22:18
    by 10x and everything is better because
  • 00:22:20
    everyone's so emotional like you are
  • 00:22:21
    right now you're looking for a shiny
  • 00:22:23
    object to latch on to and there's a
  • 00:22:24
    chance that if I pitch to a course now
  • 00:22:26
    you'd be inclined to buy it which would
  • 00:22:27
    make me money which I'm I'm not going to
  • 00:22:29
    do I have nothing for you for you to buy
  • 00:22:31
    but you get my point you want to go to
  • 00:22:32
    teaching and then my goodness me if you
  • 00:22:35
    start teaching and you start selling
  • 00:22:37
    like a course on how to do this and you
  • 00:22:38
    start YouTube buy a little car buy a
  • 00:22:40
    watch suddenly tens of thousands of
  • 00:22:43
    people want to learn from you and you
  • 00:22:45
    can make a ton of money so that is how
  • 00:22:47
    to retire take care
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