Style Switcher

Predefined Colors

How To Build Wealth With $0 – The Easy Way

a lot of people aren't going to like this one but making millions doesn't have to take you Decades of hard work sure being a millionaire in your 50s is all right but being a millionaire when you're younger is far better take it from someone who's experienced both and no I wasn't born into a rich family quite the opposite the odds were stacked against me I was a ginger workingclass kid without a penny to his name so if I can build wealth in a relatively short amount of time then you can too this isn't going to be one of those generic videos about investing in index funds and getting rich when you're old and great I'm going to be taking you through the actual moments in my life where I uncovered the truth behind Building Wealth from nothing from the moment you step foot into school they tried to control your ambition and one memory that stands out to me was sitting in a lecture theater just like this one the teacher asked us to write down our dream job our dream car and our dream house I was really excited so I wrote down business owner Ferrari and Mansion she then said life is going to be tough so I'm going to break the hard news to you now you're probably going to have none of those things so be realistic and lower your expectations I thought to myself of course I will I'll have all of those things and I've carried that attitude for the whole of my life if you allow the system to crush your hopes and dreams you'll never be able to create wealth from nothing look this isn't some fluffy mind ET BS if you can't even believe something is possible then how on Earth are you going to do the work required to become wealthy most people give into the pressure of being realistic and end up joining the crowd and then they discourage the Next Generation from following their hopes and dreams but you can decide to break the cycle just like me in that lecture theater so if you want to do this then you firstly need to be very careful about who you listen to I'm not just referring to those fake gurus on social media I'm also Al talking about the people in your life who give their unsolicited advice while your friends and parents may have good intentions if they haven't built a large sum of wealth why would you listen to them when it comes to making money secondly you need to learn to think from multiple angles when trying to solve problems most people will come across an obstacle that they've been told is impossible for them to conquer and give up at the first sign of trouble the more you let these kinds of challenges beat you the harder it is to break out of the herd as you're cementing to yourself that you aren't good enough whenever I come across a challenge I think of at least 10 different solutions and then decide on the best way forward if one doesn't work then I just try the next one and so on until I'm successful thirdly you need to step outside your comfort zone look if Harry Potter stayed in the cupboard Under the Stairs then he would never have defeated Voldemort sorry for the spoilers but it's so true putting yourself in challenging situations helps you grow and improve more than anything else I've ever experienced when I first joined the workforce as a carpenter's Apprentice I was so excited it was the job I really wanted to do but unfortunately the manager took a bit of a dislike to me and he bullied me practically every day giving me all the rubbish job I didn't know what to do I couldn't take anymore I came home that night sat on my couch and I looked around the room and thought to myself what have I got to lose I've got no child or wife to look after I'm 20 years old I've got to make this decision sure I'm scared of quitting a job of course you're scared but I knew that was the best thing for me so I quit the very next day if you're young and have few responsibilities it's a clear choice to take more risk to increase your income of course I'm not suggesting that you should go and invest all your money in crypto the risks should be calculated looking back I didn't realize at the time but the biggest risk in my life would have been St staying at that deadend job for me increasing my income meant starting my own business however if this isn't for you you could always start a side hustle or upgrade your job every couple of years Studies have actually found that you're more likely to build wealth Faster by job hopping rather than staying loyal to one company however if your goal is to build wealth as fast as possible and you decide to pick the employee route then you need to choose a career that isn't dependent on how many hours you work but on the road results you achieve after lots of hard work and many sleepless nights I managed to open my model shop it was a huge success I was reinvesting all of my money in the business to help it grow that I didn't have time to think about investing one day I decided to take on a work experience land for 2 weeks and on the first day all he kept banging on about was stocks and shares and I thought what is a 14-year-old now about stocks and shares anyway he mentioned this one particular stock that he said was going to go to the Moon he said I've got £1,000 I'm going to pile it all in because I'm so confident and I thought well if he's that confident I think I'll better have a little go myself two weeks later I drove into the shop and I had a chat with that young lad and I said to him do you know how much money you've made today he said but Mark I I don't make any money I'm on work experience I don't get paid I said son you've made 10 grand today because that share we've bought into as pretty much 10x overnight and I didn't do too bad myself either if you want to build your wealth then you need to start sooner rather than later the reality is the longer you wait to start investing the more difficult it's going to be because the more time you allow for your money to grow the more money you'll eventually have I mean check out this study by Fidelity which shows that if you miss the five best trading days over the past four decades you'd have reduced your long-term gains by 38% even worse if you missed the 10 best days you'd have lost out by 55% so I'd strongly suggest getting in the habit of investing your money for the longterm in the stock market but don't be as crazy as I was when I first started do your research and invest in the stocks you believe in longterm so what should you look for when deciding where to invest your money well firstly when choosing an investment platform it's important to make sure it has smooth and easy to use chart features you may think this isn't important but I can't stress enough how many times I've struggled with clunky apps while trying to track the growth of my investments having a wide range of stocks and ETFs to invest in is also important for diversification and reducing risk it allows you to spread your Investments across different sectors and asset classes another thing I'd suggest to look for is paper trading this feature allows you to experience the full Investing process using virtual money it's a great way to practice and refine your knowledge as well as test out new strategies all without risking any actual money but if you do this it's important to treat it like your real money otherwise you'll start changing your strategies when it comes to the real thing and get completely different results we B the sponsor of today's video offer everything we've just discussed and way more so get up to 12 free fractional shares each worth up to $3,000 by clicking the link in the description and depositing any amount of money with weeball us just as quickly as I've made my fortune I could have lost it all was friends with one of the richest guys in the UK he was featured in the top 50 UK rich list which is pretty impressive and we used to go to his parties he used to have these great firework parties at his mansion and one night I sat down had a coffee with him I said how do you make this sort of money just from a business he said Mark I don't make that much money from my businesses I make money from leveraging my investments and he said I'm part of an investment group and that group earns 30 to 40 and sometimes even 50% per year you know I sat down I thought to myself this sounds too good to be true so there was no way I was going to get involved around 2 to three months later that group went under it took everyone out because they were leveraged they lost considerably more than they had actually got invested this isn't even his house he lost it all never invest in something you don't understand and even if you do believe what you're investing in don't put all your eggs in one basket when you spread your Investments out we call this diversification this is something I highly recommend you do because it reduces your risk exposure when it comes to my stock market Investments I primarily focus on a strategy called the three fund portfolio this portfolio consists of three main components a total us stock market index fund a total International stock index fund and a total bond market fund These funds allow for diversification across different markets and asset classes reducing risk was still providing the potential for long-term growth in addition to my stock market Investments I've also Diversified my portfolio by investing in other assets such as real estate classic cars and high-end time pieces this approach allows me to spread my investments across various Industries and asset types further mitigating risk and increasing the potential for good returns it's key to remember the importance of diversification not only in Investments but also when making money this this is otherwise known as having multiple streams of income my income sources include my physical shops my Distribution Company affiliate income advertising Revenue stock dividends and Rental income for my various properties I'm probably missing out a couple but hopefully this gives you some ideas so remember when you're building your Empire constantly be thinking about how you can build different streams of income so you can't be completely wiped out by one wrong decision like my friend if you want to know Sev side hustles to avoid then I'm going to leave that video right up there don't click on it just yet make sure to subscribe if you want to grow your wealth okay I'll see you over there

As found on YouTube

Retire Wealthy Home

Read More