becoming rich is easy, actually

00:04:55
https://www.youtube.com/watch?v=IjJJ_iUDNGI

Summary

TLDRIn this video, Colin shares three habits to becoming rich. First, read books that impart business and psychology wisdom, such as 'The 4-Hour Work Week' by Tim Ferris and 'The Psychology of Money' by Morgan Housel. Reading cultivates a wealthy mindset before financial wealth follows. Second, consume purposeful content that enhances money-making skills. Colin suggests watching educational podcasts, videos with experts, and taking notes for retention and application. Influential content creators mentioned include Naval Ravikant and Alex Hormozi. Lastly, hone evergreen and in-demand skills that align with your strengths. These could range from marketing and sales to writing, design, and programming. Focus on skill development before investing in stocks or crypto, which should be considered only once a significant income skillset is established. Follow Colin on Instagram for more insights. He concludes with motivation to persist on the path to success.

Takeaways

  • 📚 Reading books on business and psychology enriches your mind.
  • 📺 Watch purposeful videos and podcasts for financial wisdom.
  • 📝 Take notes while learning to improve retention.
  • 🎨 Learn high-demand, evergreen skills that match your strengths.
  • 💼 Specialized knowledge can create income opportunities.
  • 🚫 Avoid stock or crypto investing until having a stable income.
  • 📈 Develop high-income skills before focusing on investments.
  • 🔑 Build a mindset geared towards financial success.
  • 🙋‍♂️ Follow influencers who share valuable content.
  • 💡 Always apply learned knowledge to real-world scenarios.

Timeline

  • 00:00:00 - 00:04:55

    The video starts by addressing viewers' desire to become rich and challenges the conventional wisdom of going to school, getting a degree, and working for decades to achieve wealth. The speaker, Colin, a Yale University computer science student, introduces three habits to achieve wealth more easily. The first habit is reading books, specifically those on business and psychology, which can provide essential financial wisdom quickly. Colin recommends starting with five books that he believes are fundamental for financial success: "The 4-Hour Work Week," "The Psychology of Money," "The Almanack of Naval Ravikant," "$100M Offers," and "Million Dollar Weekend." By reading a book a month, one can gain significant financial knowledge in less than six months.

Mind Map

Video Q&A

  • What are the three habits mentioned to become rich?

    The habits are reading books on business and psychology, watching educational podcasts and videos, and learning evergreen skills.

  • Which books are recommended for reading?

    Recommended books include 'The 4-Hour Work Week,' 'The Psychology of Money,' 'The Almanack of Naval Ravikant,' '$100M Offers,' and 'Million Dollar Weekend.'

  • Why is reading important for becoming rich?

    Reading provides years of money wisdom quickly, enriching the mind long before the bank account.

  • What kind of videos should one watch to become rich?

    Watch videos that focus on making money, such as those by Naval Ravikant, Alex Hormozi, and others featuring CEOs and successful entrepreneurs.

  • What skills should be learned to become rich?

    Learn evergreen, high-demand skills that match your personality, such as marketing, sales, programming, or design.

  • Is investing in stocks or crypto recommended for beginners?

    No, focus on developing high-income skills first before considering investing in stocks or crypto.

  • How does writing down ideas help in becoming rich?

    Writing down ideas prevents forgetting them and helps in actively applying learned knowledge.

  • What is the significance of specialized knowledge?

    Specialized knowledge in areas like fitness or aesthetics can be monetized as people will pay for valuable information.

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  • 00:00:01
    ladies and gentlemen if you clicked on
  • 00:00:02
    this video chances are you want to
  • 00:00:04
    become rich now for most of our life
  • 00:00:06
    we're being told that we need to go to
  • 00:00:07
    school get a degree get a job and maybe
  • 00:00:10
    wait another 10 years to become rich but
  • 00:00:12
    it's actually much easier than that for
  • 00:00:14
    most people you want to be rich for
  • 00:00:16
    three reasons to get freedom from a job
  • 00:00:17
    you hate to gain status and respect and
  • 00:00:20
    to buy whatever you want without needing
  • 00:00:22
    to ask well you've come to the right
  • 00:00:23
    spot if you're new here my name is Colin
  • 00:00:25
    and I'm a student at Yale University
  • 00:00:27
    studying computer science and in this
  • 00:00:28
    video I'll show you the three simple
  • 00:00:30
    habits that'll make you so rich that you
  • 00:00:32
    question the meaning of making money so
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    the first habit is reading books now you
  • 00:00:36
    can read another stupid cat book if you
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    want to lower your IQ but if you want to
  • 00:00:39
    get rich I would strongly recommend
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    reading books about business and
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    psychology reading books is the fastest
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    way to become rich because you're
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    literally getting years of money wisdom
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    in just a couple pages and you become
  • 00:00:50
    rich in your mind long before you become
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    rich in your bank account that's why
  • 00:00:53
    reading books are so important so if
  • 00:00:55
    you're just getting started I would
  • 00:00:57
    highly recommend reading a book a month
  • 00:00:58
    just 10 minutes a day before bed so what
  • 00:01:01
    book should I read the first book you
  • 00:01:02
    want to read is the 4-Hour Work Week by
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    Tim Ferris this book will teach you
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    about lifestyle design on how to work
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    less and make more money the second book
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    you want to read is the psychology of
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    money by Morgan howel this book will
  • 00:01:13
    teach you the common mistakes we make
  • 00:01:14
    when thinking about money now the third
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    book you want to read is the almanac of
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    nval ravikant this book is like a full
  • 00:01:20
    guide on how to become wealthy and how
  • 00:01:22
    to use leverage online to get rich the
  • 00:01:24
    fourth book you want to read is $100
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    million offers by Alex rosi possibly one
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    of the best books on sales andet
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    marketing if you want to learn to make
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    an offer so good that people feel stupid
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    saying no to this book is for you now
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    the last book you want to read is
  • 00:01:36
    million dooll weekend by no Kegan this
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    is a relatively new book that talks
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    about how to build an online business
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    step by step all these five books are
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    books that I've personally read and I
  • 00:01:45
    think are definitely must reads if you
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    want to become rich and if you read a
  • 00:01:48
    book a month which is very doable and
  • 00:01:50
    easy you can easily gain all this money
  • 00:01:52
    wisdom in less than 6 months and by
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    reading more books on money you'll be
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    smarter than most business people who
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    take 10 years to learn that same wisdom
  • 00:01:59
    now the second habit that'll make you
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    rich is watching podcasts and videos but
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    I'm not talking about watching pointless
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    try not to laugh videos that lower your
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    IQ I'm talking about watching videos
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    that'll help you make more money so some
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    specific videos I'd recommend watching
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    are how to get rich without getting
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    lucky by nval reprogram your mind to be
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    rich in 22 minutes by Alex Orosi how
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    billionaires think by Sam ovens the one
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    person business model by Dan Cole and
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    this isn't fun but it makes me 2K an
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    hour by Alex Becker now you don't want
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    to just be watching these videos
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    passively you want to be actively
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    writing notes on a Google doc or on your
  • 00:02:30
    notebook go and watch those five videos
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    as a starting point and I guarantee that
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    it'll change the way you think about
  • 00:02:35
    money and after you're done with them
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    you can go and watch other videos like
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    interviews with CEOs and millionaires
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    like even when I'm in the gym most of
  • 00:02:43
    the time I listen to house or EDM music
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    but sometimes I like listening to a
  • 00:02:47
    podcast where I'm just writing notes in
  • 00:02:48
    between sets so you want to be writing
  • 00:02:50
    your ideas down because if not you'll
  • 00:02:52
    probably forget them in the next hour
  • 00:02:54
    now some other YouTubers they'll help
  • 00:02:55
    you become rich of course if you want to
  • 00:02:57
    learn about sales and marketing go watch
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    some Alex for mosy content if you want
  • 00:03:00
    to learn more about cold calling and
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    agency building maybe watch Charlie
  • 00:03:04
    Morgan and if you want to become a
  • 00:03:05
    billionaire Sigma Chad then there's this
  • 00:03:07
    Asian guy I'd recommend subscribing but
  • 00:03:09
    the point is watch more content that
  • 00:03:11
    will help you improve your life because
  • 00:03:13
    if all you watch is videos on how to
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    make money it's almost inevitable you'll
  • 00:03:16
    become super rich now the final thing
  • 00:03:18
    you want to do to become rich is to
  • 00:03:20
    learn skills you want to learn skills
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    that are Evergreen and future proof more
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    importantly learn skills that match your
  • 00:03:26
    personality are you creative then learn
  • 00:03:28
    writing video editing and this design
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    are you charismatic then learn Marketing
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    sales or content creation do you like
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    building things then learn programming
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    software and building online stores so
  • 00:03:38
    when you combine your individual Edge
  • 00:03:39
    and your matching skill you become
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    powerful also if you want to become rich
  • 00:03:43
    you want to learn skills that are high
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    in demand so for example people are
  • 00:03:47
    always going to need designers so maybe
  • 00:03:49
    if you're very creative you can create a
  • 00:03:50
    thumbnail agency design service for
  • 00:03:52
    YouTubers or maybe you want to master
  • 00:03:54
    the skill of creating aesthetic websites
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    having specialized knowledge can also
  • 00:03:58
    make you lots of money for example if
  • 00:03:59
    you know a lot about Fitness and
  • 00:04:01
    Aesthetics then people will literally
  • 00:04:02
    pay you for the information you have or
  • 00:04:04
    maybe all you have is good taste you
  • 00:04:06
    have zero technical skills guess what
  • 00:04:08
    you can still make money Rick Rubin is
  • 00:04:10
    one of the richest producers of all time
  • 00:04:12
    and he doesn't really know how to make
  • 00:04:13
    music but he has taste so there are
  • 00:04:15
    literally unlimited opportunities and
  • 00:04:17
    ways that you can make money now what
  • 00:04:19
    about investing what about stocks or
  • 00:04:21
    crypto honestly I wouldn't even think
  • 00:04:22
    about investing in stocks or crypto
  • 00:04:24
    unless I already have a solid skill that
  • 00:04:26
    makes me lots of money if all you have
  • 00:04:28
    is $200 in a bank account account and
  • 00:04:30
    you expect that you're going to be a
  • 00:04:31
    millionaire investing in crypto forget
  • 00:04:33
    it yes it's nice to start the habit of
  • 00:04:34
    investing but don't expect to become a
  • 00:04:36
    millionaire when you don't even have
  • 00:04:38
    much Capital to begin with so focus on
  • 00:04:40
    learning those High income skills first
  • 00:04:42
    so I hope you guys got lots of value
  • 00:04:43
    from this video if you guys want more
  • 00:04:45
    exclusive wisdom on how to win in life
  • 00:04:47
    follow me on Instagram right here @
  • 00:04:48
    conness as always God bless the hustle
  • 00:04:50
    we're all going to win one day and I'll
  • 00:04:52
    see you in the next one
Tags
  • wealth
  • habits
  • books
  • skills
  • growth
  • investing
  • education
  • self-improvement
  • success
  • money