00:00:00
so this guy his name is Jake and Jake
00:00:02
really wants to be rich but he comes
00:00:04
from a pretty poor background was raised
00:00:07
by a single mother and lacks any
00:00:09
positive male role models despite this
00:00:11
he's still ambitious and always looking
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for advice on how to make it big
00:00:15
recently Jake started working at one of
00:00:17
my favorite cafes and while I was
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sitting in my usual corner I saw him
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approach an older guy dressed in a suit
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let's call him Mr Grumpy because I've
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seen him around but he never has a smile
00:00:28
on his face so when Jak asked him for
00:00:30
some advice I knew it wasn't going to go
00:00:33
well Mr Grumpy just bluntly told him
00:00:35
that the younger generation was lazy and
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didn't know the first thing about hard
00:00:39
work Jake tried to tell him that he's
00:00:41
working hard to pay for college and has
00:00:43
big plans for the future but things
00:00:45
aren't the same nowadays but it was no
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use old grumpy didn't even let him
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finish and snapped back he said that
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younger people are just full of excuses
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and want everything handed to them on a
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silver platter coming from a humble
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background and having made my first
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million in my 20s I saw lots of
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similarities between myself and Jake so
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I couldn't just sit idly by I got up and
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approached them I looked Mr Grumpy
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directly in the eyes and said something
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along these lines times have indeed
00:01:12
changed and so are the challenges young
00:01:14
people face today yes our generation
00:01:17
worked hard but that doesn't mean young
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people aren't working just as hard today
00:01:21
Jake is juggling school and a job and
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planning for his future the world is
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honestly more complex now the path to
00:01:28
success isn't a straightforward as it
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used to be we need to support and
00:01:32
encourage the younger generation not
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belittle them they're the backbone and
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Future Leaders of this world we should
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be guiding them with our experience not
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dismantling their efforts I wish I could
00:01:44
tell you I Chang his views on youngsters
00:01:46
but honestly I reckon my words pretty
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much entered one ear and went right out
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the other some older people are just so
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stuck in their ways but we're not all
00:01:54
like that later when Jake was grabbing a
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bite on his lunch break I sat with him
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for a good hour sharing some real world
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advice to help him get ahead this whole
00:02:02
experience with Jake really got me
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thinking there must be thousands
00:02:07
actually probably millions of young
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motivated people like Jake out there so
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I thought today I'd break down the
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advice I gave Jake into five principles
00:02:17
that anyone can follow to become wealthy
00:02:21
[Music]
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for the first 10 years of your life
00:02:37
you're just a kid having mindless fun
00:02:39
and the next 10 years you're stuck in a
00:02:41
classroom being taught mostly useless
00:02:43
information like Pythagoras's Theorem
00:02:45
and Shakespeare it's only when you hit
00:02:47
your 20s that you step into the big bad
00:02:50
world and start figuring out how to earn
00:02:52
money so when you see 20-year-olds
00:02:54
driving around in Lambos on social media
00:02:56
it can make you feel pretty bad but
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don't blame blame yourself for not
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having it all figured out yet the school
00:03:02
system didn't prepare you for the real
00:03:04
world really and truly you're just
00:03:06
getting started if this sounds like you
00:03:08
then don't just focus on earning
00:03:10
Millions at this stage you need to
00:03:12
obsess over sharpening your act so it
00:03:15
looks a bit more like this lots of
00:03:16
people ski this part of the process and
00:03:18
just try to start a business as they've
00:03:20
heard it's the way to become rich
00:03:23
however they're doing the equivalent of
00:03:24
trying to cut down a tree with a blunt
00:03:26
axe it's simply just not going to work
00:03:29
so how do you sharpen your ax so that
00:03:31
when you go for the big money you can
00:03:33
easily cut down the tree with a few
00:03:35
strong swings well it all comes down to
00:03:37
mastering High income skills these are
00:03:40
the skills that can make you at least
00:03:42
$10,000 per month some great examples
00:03:45
nowadays are video editing copyrighting
00:03:48
High ticket closing and software
00:03:50
development the amount you can make with
00:03:52
skills like these will change depending
00:03:54
on supply and demand but mastering one
00:03:56
or two of these skills can put you in a
00:03:59
really great POS position early on in
00:04:00
life my son Curtis honed his videography
00:04:03
and editing skills while still in school
00:04:06
upon graduating he quickly acquired
00:04:08
clients and was earning $10,000 a month
00:04:11
within a year however the money wasn't
00:04:13
as important as the opportunities his
00:04:15
skills provided they allowed him to
00:04:18
interact with extremely successful
00:04:20
people and gain access to valuable
00:04:23
information that others paid thousands
00:04:25
for this is the true power of a high
00:04:27
income skill it opens doors so think
00:04:30
about what doors you want to open and
00:04:32
pick one or two high income skills
00:04:34
that'll help you get there don't rush
00:04:36
this step sharpening your ax takes time
00:04:39
and dedication this is a marathon it's
00:04:42
not a Sprint you don't have to make a
00:04:44
ton of money really fast and just show
00:04:47
it off you should aim to last and not
00:04:49
become a one hit wonder so extend your
00:04:52
timeline stop thinking you need to
00:04:54
become a millionaire in one or two years
00:04:57
if you learn the right skills then the
00:04:58
millions will follow just trust the
00:05:00
process once you have a sharp ax it's
00:05:03
also quite nice to know that even if
00:05:04
somebody took away all your money you'll
00:05:07
still be able to make far more money
00:05:09
than the average person most self-made
00:05:11
millionaires say they can make it all
00:05:13
back faster a second time around as they
00:05:16
already have the knowledge and the
00:05:18
skills to do
00:05:19
[Music]
00:05:25
it your money is like this stack of
00:05:28
cookies the more you handle them the
00:05:30
more they'll just crumble away the key
00:05:33
is to stop messing with your money
00:05:34
thinking I'm going to put it here trade
00:05:36
this buy that as a harsh reality is
00:05:39
you're probably making the wrong
00:05:41
decisions how do you think Warren
00:05:42
Buffett made 99% of his
00:05:45
137 billion net worth after his 50th
00:05:48
birthday is because he understood that
00:05:51
real money is made through compound
00:05:53
interest however this can't happen if
00:05:55
it's too easy to access your money as
00:05:57
it's just too
00:05:58
tempting M that's why you need to lock
00:06:01
it away somewhere where it can grow in
00:06:03
peace but you can't just lock your money
00:06:04
away in a bank account and expect it to
00:06:06
grow you need to invest it in assets
00:06:09
there are lots of different asset
00:06:11
classes you can choose from like real
00:06:12
estate high-end watches and gold however
00:06:15
my favorite has to be the stock market
00:06:18
I've personally made Millions doing this
00:06:20
but here's the thing youngsters these
00:06:21
days dream about popping bottles and
00:06:23
zipping around in flashy sports cars
00:06:26
saving money not so much but take it
00:06:29
from from me making a million dollar
00:06:31
once is nothing special you're only a
00:06:34
legend if you can do it again and again
00:06:36
so after you pocketed your first million
00:06:39
the real game begins can you keep it and
00:06:41
more importantly grow it into a fortune
00:06:44
the best thing you can do is get that
00:06:46
money away from you and into Investments
00:06:48
as soon as possible that's what I did
00:06:50
when I was younger and I made a rule
00:06:53
never to sell my long-term stocks I'm
00:06:55
now at the point where these Investments
00:06:57
make me around 177,000 a week in passive
00:07:00
income which means I can more than live
00:07:02
off what my investments generate and I
00:07:04
never have to touch the money I work for
00:07:06
once I invested my money I never saw it
00:07:08
as mine and you know what it lit a fire
00:07:11
inside me that you wouldn't believe I
00:07:13
was always hustling for more because I
00:07:15
constantly felt like I was broke it's
00:07:17
like a boxer who's training in some
00:07:20
beaten down old gym often that's the guy
00:07:23
who ends up beating the boxer who's got
00:07:25
access to the most luxurious training
00:07:27
facilities so if you want to start
00:07:29
invested then firstly decide how much of
00:07:31
your income you're going to invest every
00:07:33
month don't make it an exact amount but
00:07:36
instead a percentage as an example if
00:07:39
you invested $250 a month in a lowcost
00:07:43
index fund and got an average annual
00:07:45
return of 10% then in 40 years you'd
00:07:48
have over $1.5 million of course
00:07:51
Investments can go up and down however
00:07:54
the S&P 500 Index Fund has actually
00:07:56
given a
00:07:58
10.98% aage average annual return over
00:08:01
the last decade it doesn't really matter
00:08:03
what you choose to invest just make sure
00:08:05
it's an amount you can stay consistent
00:08:07
with here's a fun experiment my son's
00:08:09
been doing he set his trading 212 app to
00:08:11
Auto invest £5 every single day the
00:08:15
price of a Starbucks coffee and guess
00:08:18
what after about 10 months he's already
00:08:20
made
00:08:21
£164 which is about $200 with an
00:08:25
impressive
00:08:27
11.14% return the app also gave him a
00:08:29
12mon value projection when he started
00:08:32
and he's bang on target to hit it in a
00:08:33
couple of months since I was planning to
00:08:35
talk about trading 212 anyway I reached
00:08:38
out to them to see if they'd be
00:08:39
interested in sponsoring this portion of
00:08:41
the video they agreed and are offering a
00:08:44
fractional free share worth up to100 to
00:08:48
anyone that uses the code Tilbury when
00:08:51
they create an account plus you can get
00:08:53
more free Stocks by inviting your
00:08:54
friends both of you will get a free
00:08:56
share as long as they fund their account
00:08:59
also don't worry if you've already
00:09:00
opened an account within the last 10
00:09:02
days you can still use the promo code
00:09:04
tilb in the app and receive your free
00:09:07
[Music]
00:09:17
share this is the biggest thing stopping
00:09:20
you becoming rich you might think you
00:09:22
fear failure however in reality you're
00:09:25
probably more concerned about how others
00:09:27
will judge you if you fail you see I
00:09:29
I've spoken to so many young people like
00:09:31
Jake who have big dreams but are too
00:09:33
scared to take a risk and step out of
00:09:35
the norm as they're so paralyzed by fear
00:09:38
however taking calculated risks is the
00:09:40
only way to get ahead of everyone else
00:09:42
think about it for a second if you're
00:09:44
just doing the same thing as the
00:09:46
majority of people then you're going to
00:09:48
get the same results right these risks
00:09:50
might not always pay off but luckily
00:09:52
when you're younger you have one huge
00:09:54
Advantage time this is the most valuable
00:09:57
thing you have if you have this much
00:09:59
time your fear level should be at their
00:10:01
least look I know the real world isn't
00:10:04
this logical I remember feeling scared
00:10:06
when I considered quitting my job as a
00:10:08
carpenter due to the constant bullying
00:10:10
from my manager after much thought I
00:10:13
decided to take the risk quitting turned
00:10:15
out to be the best decision I ever made
00:10:17
if I'd allowed my fear to overcome me
00:10:19
then I wouldn't be sitting here today
00:10:21
this applies to investing as well when
00:10:23
you're younger you don't really want to
00:10:25
be invested in bonds and gold these
00:10:28
Investments are more of for older folks
00:10:29
like me that want to protect our wealth
00:10:32
and not experience big Market crashes I
00:10:35
don't have years to wait if my portfolio
00:10:36
loses a lot of value however you
00:10:39
probably do which means you can afford
00:10:41
to take more risks as your leveraging
00:10:43
your time sometimes you just have to go
00:10:45
for it not taking opportunities can lead
00:10:48
to regret and you may find yourself
00:10:49
wondering how your life could have been
00:10:51
different as you get older the ability
00:10:53
to take risks will get smaller and
00:10:56
smaller so be adventurous don't worry
00:10:58
too much about what might or might not
00:11:00
happen don't find yourself saying I wish
00:11:02
I'd done that or I once had a great idea
00:11:05
for a business as long as you have time
00:11:07
on your side then failure really isn't a
00:11:09
bad thing you should just see it as
00:11:11
testing most successful people you look
00:11:13
up to have failed hundreds of times
00:11:14
before achieving success you can't have
00:11:17
one without the other success is just
00:11:19
the reward you get for enduring and
00:11:21
learning from failure so if your scales
00:11:23
look like this then stop worrying and
00:11:26
overthinking things be brave and seize
00:11:29
the opportunities that come your
00:11:31
[Music]
00:11:39
way this is known as a done in Krueger
00:11:42
effect curve and it shows how our level
00:11:45
of knowledge affects our confidence most
00:11:48
people never get off Mount stupid this
00:11:50
isn't because they're lazy or
00:11:52
unintelligent it's because of their
00:11:54
arrogance they believe getting rich is
00:11:56
down to luck when actually it's a
00:11:58
learnable skill it's a NeverEnding
00:12:00
process of learning and applying even at
00:12:03
my ancient age I still do my best to
00:12:05
learn about what's currently going on I
00:12:07
use YouTube Tik Tok and I keep up to
00:12:10
date with financial news this allows me
00:12:12
to spot opportunities before other
00:12:14
people of my generation so remain a
00:12:17
student for as long as you can not in
00:12:20
the traditional way just make sure to
00:12:22
learn from those that are ahead of you
00:12:24
this is a long process and you have to
00:12:26
earn your stripes you can't just jump to
00:12:28
the Finish line so learn and respect the
00:12:31
process even now whenever I meet someone
00:12:33
new I challenge myself to learn
00:12:35
something from them that I didn't know
00:12:36
before this helps me stay humble because
00:12:39
when you get to my age you still don't
00:12:41
know everything if you get into the
00:12:43
habit of constantly learning then I
00:12:45
guarantee you'll make far more money I
00:12:47
mean if I didn't know about crypto back
00:12:49
in 2019 then I wouldn't have invested a
00:12:52
small portion of my portfolio and made
00:12:55
crazy amounts of money but we're taught
00:12:57
the opposite in the Western World with
00:12:59
we're told to go to school till we're
00:13:00
about 18 then choose a college or
00:13:03
university go there for 3 years and then
00:13:06
our learning's done so that means most
00:13:08
people stop learning when they're in
00:13:09
their 20s this approach to learning is
00:13:12
completely broken the world is
00:13:14
progressing faster than ever and if you
00:13:16
want to keep up then you need to keep
00:13:18
giving your brain software updates just
00:13:20
like computers if you don't keep
00:13:22
updating your brain and keeping it clear
00:13:23
of viruses which in this case is
00:13:26
outdated knowledge it will eventually
00:13:28
break down the phrase if you don't use
00:13:30
it you'll lose it has never been more
00:13:33
true if I didn't start thinking this way
00:13:35
when I was younger then right now I
00:13:36
probably be sat on the porch dribbling
00:13:39
into my dinner not knowing what's going
00:13:45
[Music]
00:13:53
on if you want to become the first
00:13:56
millionaire in your family then you need
00:13:58
to break the poverty cycle this 2024
00:14:01
study by the National Bureau of economic
00:14:03
research says you can improve your
00:14:05
chances of becoming rich by befriending
00:14:08
a specific type of person any guesses
00:14:10
who that might be of course it's wealthy
00:14:13
people but maybe not for the reasons
00:14:16
you're expecting they found that every
00:14:18
10% increase in wealthy friends was
00:14:21
associated with nearly 3% greater chance
00:14:24
of stock market participation for that
00:14:26
person and a 5% increase in the chance
00:14:29
they save money this makes sense as when
00:14:31
I post videos explaining how to invest
00:14:33
in the stock market I'm always shocked
00:14:36
at how many comments I get saying if
00:14:38
it's that simple why isn't everyone
00:14:40
investing in the stock market the truth
00:14:42
is everyone should be doing it however
00:14:44
they're being held back by their circle
00:14:46
of influence people are nervous about
00:14:48
investing and starting side hustles but
00:14:51
once they start making friends that can
00:14:52
help guide them and explain things they
00:14:54
don't understand in plain English it
00:14:56
dramatically improves their chances of
00:14:59
becoming rich look I'm not saying you
00:15:01
should ditch all your old friends and
00:15:02
I'm also not saying that you should
00:15:04
become friends with someone just because
00:15:06
they're rich maybe just consider joining
00:15:08
clubs where rich people often spend time
00:15:11
and you'll naturally become friends with
00:15:12
these kinds of people without having to
00:15:14
force anything if you've made it to this
00:15:16
part of the video I'm sure you'll be
00:15:18
successful in life as you're young
00:15:20
ambitious and clearly want to make it
00:15:22
big I love young people like you you're
00:15:25
the backbone of the world be that in
00:15:27
America the UK Africa or China I don't
00:15:30
care what country you live in without
00:15:32
your brains ideas and drive the world
00:15:35
would just fall apart I'm going to die
00:15:38
along with the other older people and
00:15:39
then it's over to you you are the Future
00:15:42
Leaders of this world so don't be afraid
00:15:44
to go after what you want and remember
00:15:46
there are still some older people like
00:15:48
myself that understand and care about
00:15:50
the younger generation and you have my
00:15:53
word I will always defend you if some
00:15:56
old fart is talking down to you guys if
00:15:58
you to learn how to invest for beginners
00:16:00
then you should watch this next video
00:16:02
but don't click on it just yet make sure
00:16:04
to subscribe if you want to grow your
00:16:05
wealth okay I'll see you over there
