How I Became a Millionaire Before 30

How I Became a Millionaire Before 30

uh what is going on bro welcome to the video or should i say gains bro workout complete because i legitimately have a full sweat going on like i thought if i made it out here early enough in the morning that it wasn't going to be that hot but texas the texas summertime heat is back also i got to apologize for the noise behind me they're building up the last the last home in the neighborhood so it's kind of loud construction that being said we got both of the babies looking fresh today the tesla over here ever since we put that expel stealth wrap on it it just cleans so easily it dries off so easily it's amazing and over here we got the og audi a4 i hadn't watched this probably in like four months so it was looking real rough but she's looking fresh she's looking shiny anyway as you all know i am 31 years old now and honestly i've achieved a level of financial freedom that i never would have thought was even remotely possible ten years ago or five years ago so today i want to share with you guys like the three most important steps that i took throughout my 20s to get here and to be honest these are all things that i wish i started doing sooner these are steps that i'm still taking today to continue accumulating wealth and i promise even if you're not a youtuber you don't have your own businesses you can apply these things starting right now so lately i've been experimenting with a lot of breakfast taco combinations today we got sweet potatoes and grilled chicken scrambled with eggs and of course my favorite hot taco sauce from my favorite taco restaurant i uh i i just borrowed these from them back in my early 20s and my mid-20s when people would talk to me about investing a i'd be like that sounds complicated and b i was like all right so you want me to put away money that i'm making now even though i don't have that much money after i cover my expenses so that in you know 30 or 40 years when i get to be 60 years old i have a little bit more money like it just didn't make sense and i realized for a lot of y'all investing probably still seems like this kind of vague concept but you need to realize investing money is a way to make more money and to make more money like now already uh my plan is to invest enough money in my 20s and 30s so that by the time i reach 40 i'm making enough money only from my investments that even if i didn't work another day in my life i'd be making a big enough salary from those investments to live and live well and not even have to dip into my savings all right so you can see exactly what i'm talking about let's take a look at this compound interest calculator and let's say you invest 5 000 this year and that's it you don't make any contributions after that and let's say you leave it in there for 10 years and you get a 10 rate of return that's the average the stock market returns obviously some years is higher some years it's lower which is why it's always better to leave your money in there for longer you're gonna see that in 10 years that five thousand dollars turned into thirteen thousand dollars and this is because as you can see from this green the green part of the lines the amount of money you're making each year gets more and more because as that five thousand dollar grows to six thousand seven thousand dollars now you're making ten percent of the bigger amount of money and the real magic happens if you invest five thousand dollars the first year and you invest five thousand dollars let's say every year after that all of a sudden you have a hundred and three thousand dollars even though you've only invested fifty thousand dollars like your money more than doubled and as you can see on this line as the blue part of the lines the money you're putting in the green part of the line is the money that you're making the more money you put in the faster and the more money you make like you have to realize this is honestly insane the way that wealthy people get wealthy is they don't only have their career or their business they have a bunch of money that's just making money for them every year now i'm not a financial advisor but i want to tell you what i believe is the smartest and the easiest way to invest your money and that is getting started with a roth ira which is a simple account you can open with your bank and you're allowed to invest up to six thousand dollars per year in there and the money that you make inside that account is tax tax-free it's a no-brainer you need to max that out before you try and invest anywhere else so basically anything you can manage to invest up to 500 per month because that's gonna get you to that six thousand per year uh you have to make it a priority man even if it's just fifty dollars per month you know this is gonna change your life and if you can manage to invest more than 500 a month that's awesome throw it in a regular brokerage account you will have to pay taxes on the gains but like you're still making money but then once your money's actually in there you have to choose which funds to invest it in and there's an interesting statistic you need to know that i think 90 of actively managed investment funds failed to beat the market over a 15-year period basically this means that in my opinion there's no point in trying to pick which stocks you want is way easier just to park your money in like a simple index fund that just mirrors the market because on average the market's going to grow with that 10 percent if you try and pick individual stocks sometimes you'll do better but on average like you're gonna do worse personally my favorite fun to put money in is the vu the vo that is a vanguard fund with very low fees a lot of funds will have higher fees and then you're not making as much money obviously that just mirrors the s p 500

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if you just park your money in there you're literally doing better than 90 of investment professionals whose entire job in education is to pick stocks like me and you we're not gonna do better than that now quick note on kryptos because i know that's the hot right now and personally i'm not super heavily invested into them but y'all have to keep in mind that of course you hear stories of people who've made a lot of money and i know people have made a lot of money but i know even more people who've lost a lot of money they're just very volatile it's a very speculative market so really you should only invest money that you're willing to lose i would only even consider it once you've maxed out your roth ira and keep in mind that like the rule of thumb is to invest one percent of your portfolio in to bitcoin so let's say you have ten thousand dollars invested then put a hundred dollars into bitcoin if you have a hundred thousand dollars invested put a thousand into bitcoin of course you can have a bad year and lose money in the stock market too but like it's been around for hundreds of years it's very proven no one really knows for sure what's gonna happen with crypto now one thing you have to understand about compounding interest is that if you're investing money like it can make you more and more money over time but if you have debt that also carries an interest rate and if you don't pay it off then the same thing applies you're going to be losing more and more and more money over time and that's why i decided to partner with upstart to be the sponsor of today's video check it out upstart is basically a fast and easy way to get a personal loan to pay off your debt all online it doesn't matter if you're struggling with credit card debt or multiple sources of high interest debt the idea is that if you can get a loan from somewhere like upstart that has a lower interest rate versus what you're paying now well you're gonna be able to pay that off faster and if you have multiple sources of debt you're gonna be able to consolidate it all into one easy payment unlike other lenders upstart looks at more than just your credit score which means they can offer smarter rates with their trusted partners like it's no wonder over half a million people have used upstart with a five minute online rate check you can see your rates up front for loans from anywhere from one thousand to fifty thousand dollars and you can receive funds as fast as one business day after accepting your loan so if you're ready to find out how upstart can help you lower your monthly payments just go to upstart.com how to beast or click that first link in description that is upstart.com how to beast so make sure you use my link so they know who sent you hey dude what's up what's talking to this dude right here hey buddy but uh full body push day full body push day this is a full body push right it doesn't make any sense so push day with some leg press all right yeah we'll we'll say we'll do that but really we're just going to push i don't think so let me go ahead and say something that might not make sense immediately you might reject this or think it sounds stupid but i don't think budgeting is really worth your time like i did this in my early 20s and i mean it's one thing if you're someone who blows 500 every weekends at the bars and clubs because obviously if you stop doing that that's 2 000 more dollars a month you can invest but if you're sitting around trying to see how you can cancel your netflix subscription and spotify subscription and never eat out or have a starbucks coffee again you're gonna be putting in a lot of like time and effort that's gonna limit your enjoyment of life and instead if you just applied that same time and effort to making more money it would achieve the same i mean achieve a better end result you're making more money and you still can enjoy these things my first question for you is do you have a career right now where if you look you know two or three positions above where you are now someone's making a lot more money than you and if that's the case that's awesome that means you can very realistically get there a good place to start is to ask someone you know ideally in your company who's two or three positions above you you know hey man i know a few years ago you were doing what i'm doing and now you know you've grown a lot i was wondering if you kind of tell me some of the key steps you took to get there now something else that's a no-brainer is just to talk to your boss and ask them what you need to do to get to the next level but most people are they're too timid or afraid to do this and a lot of times when people do it they're just like hey you know how do i get my promotion you need to do this in an intelligent way you know when i worked my software engineering job for a little over a year i made you know two big promotions during that time all i did was after three months i went in and i was like hey i feel like i've really you know learned all my responsibilities i have a good handle over them what can i do you know what additional responsibilities can i take on to make your life easier to add more value to the business and then from there i think my boss had to like think about it a week then i went back in and we laid out a few metrics like okay you need to learn this programming languages you know we need you to be on this many projects at a time and after like a month i went back and was like all right i'm doing it and then i got a promotion you know a couple months later i went back and did the same thing now obviously some bosses aren't going to be cool about this and if that's the case then you should just start applying to other jobs you know similar positions nearby because it's going to be easier for you to negotiate a new higher starting salary than like wasting your time with a boss who just doesn't care now if you're in a career where like realistically there's no room for growth well you're gonna have to take the time to learn new skills so you can get a better job for example my brother got his college degree in english and you know for the last few years he was teaching kids english through skype lessons not making as much as he wanted and then he signed up for like a six-month coding course at his local college he went through that and now he has a full-time job working for a software company making a lot more money and if you're someone who's trying to get a business off the ground well like the same advice i gave earlier find someone else who has a similar successful business and ask them you know for their advice on the next steps you should take the common theme here is if you want to make more money there's a very obvious route of what you need to do to get there but all of this is going to take time and effort you can't just accept a job and like sit back and sit in your cubicle all day or just do your basic like you have to take the time and energy to develop a plan to make more money i just gave you some very straightforward steps but you have to actually do those things hey y'all been asking and i got some good news the edge swim shorts they're officially launching monday june 28th which is like next monday like three days or four days from the date this video goes live we got some classic colors here this is azul it's a blue color all of them have the simple edge one step further logo in the front we got black max's rock in here with black we went with the neon drawstrings a nice little accent over there we got rose we're calling it a nice red color we just wanted like a good simple fitting bathing suit dope colorways classic nice little stretch in the material y'all are gonna love this it's nice man you know a lot of people over complicate the bathing suits you just need something simple fits good quick drying super comfortable pockets you're gonna love it so if you all have been following the channel then you all know um well i just recently bought a house or built a house that we sold it obviously i recently bought the tesla we have the audi and if you guys have been following along you know for years i was living in like 400 square foot apartment in boston ride at a bicycle when me and julie moved to austin like we were sharing her volkswagen jetta until it broke down and it wouldn't drive anymore and for those last two or three years i had the money to afford a nicer vehicle or to you know afford a down payment on a home but i very specifically chose and i know this is something that you've done as well because i followed your journey i like i made a specific decision i'm gonna put off any big expenses i've had a lot of friends who i know as soon as they've had the money to like purchase a nice vehicle like they're on the lot like trying to you know spin the 50k they've saved up on that vehicle or they're like well technically you know my bank will get me a down payment for uh six hundred thousand dollar home i don't know if i'm gonna be able to afford the monthly payments but i think i'm gonna do it yeah and i think a lot of people just like shoot themselves in the foot when they're starting to get momentum with their money and before like getting to the point where they can be wealthy yeah absolutely i think a lot of people they want all the things that come along with having nice stuff but they kind of put this uh this house this car up on a pedestal and then they kind of live above their means and it always comes back and bites in the ass and you look at someone like david or myself that are not only are we like 31 right you know we've been working on our businesses for a long time and our kind of like you know career that we're doing and you see us getting houses now but this is the first time we've done this this first time i bought a house it's been a long time 31 i wasn't trying to i could afford a house at 26 27 but i didn't do it i kept my head down and focused on the work instead of trying to you know impress other people with what i can what i can buy yeah my mind has always kind of been like i'm gonna put off big expenses until it's like slapping me in the face they're like okay maybe i should do it now like the jetta broke down i was like ah i don't even want to buy a new car but we went to honda we went to audi and eventually you know we did the used a4 i think we paid 32 or 34 for it and even with that like i could have at the time technically bought something a lot nicer but my mind was like oh you know we'll pay 34 for this then we'll put 50 in into stocks instead i think a lot of times people get caught up and keeping up with the joneses everyone's trying to see who can who could afford what you know what shiny object can you get next and you got to focus on your path and not let kind of you know the detours in life keep you off you know take it off track just keep your blinders on focus on you and you know get your money right yeah i think you're like my metrics for growth are never like the different assets that i own my metrics for growth i'm like have i done better than last year have i done better than the last six months and like if you keep doing that and you keep growing like inevitably you will have like disposable income to buy nice things but if if that's your motivation up front you're gonna like you're not you're never gonna have the income to like invest to actually be wealthy in the long run you're just gonna like build up some money and then like lose it all build up some money then like spit behind on some other dumb one thing i want to quickly say about uh purchasing a house i know a lot of people like your parents or your friends may pressure you to buy a house because oh you know if you rent something you're just throwing away your money you got to realize you buy a house you pay interest every month you have to pay closing costs on the house you have to pay property taxes every month if something breaks the maintenance is on you and a lot of times you know you end up wasting just as much money versus if you rent something i can tell you that when it really makes sense to buy is if you're sure you're going to be in a location for five to ten years minimum because that's when you really start to see some appreciation on the house i'm so thankful that during my 20s i moved around a bunch and rented in different places because i made me grow so much as a person whereas if i just bought a house and got myself locked down i would never have gotten this far he went twice because i took him for the first time he wanted to go this is we're on a little like a marathon of mexican because next week's our last this is actually our last full week in houston the best time you're going to see me guys get a good look at it that's best bs we're going to come back to you samantha's be coming to austin but max is like yo we got to get mexican every night before you leave i'm testing it because i can do the same thing every night and he was like i'll get mexican every night i'm like this is night we'll see there's night four we've got mexico 43

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this is three and julia backed out tonight ended up coming so i'm gonna get every night before we leave except every night and we're getting it tomorrow but you bailed on the night after tomorrow night i don't want to it's a it's a team dinner dude just in case y'all wonder what we get every single night it's basically the same thing a bunch of beef fajitas some chicken fajitas and then you make tacos you guys you guys hear those bugs man these texas but everything's bigger everything's louder in texas too i guess if you made it all the way to the end of the video i do appreciate you a lot please hit the thumbs up button it really does help out the channel if you're new to the channel go ahead click subscribe and turn notifications on because i release two new videos every single week and you don't want to miss them i will talk to all of y'all in the next video stay beastly