๐ฅ
5d ago in ๐ Leadership
No BS ๐ฉ๐ซท๐ผAdvice to Get Rich in the Next 10 Years
Since this topic came up recently, the ๐ฅ video that Alex made about a month ago, wasn't just on passive income. In fact he was talking about his 20๐
๐ฟ๐๐น๐ฒ๐ ๐๐ต๐ฎ๐ ๐๐ถ๐น๐น ๐บ๐ฎ๐ธ๐ฒ ๐๐ผ๐ ๐ฟ๐ถ๐ฐ๐ต ๐ถ๐ป 10 ๐๐ฒ๐ฎ๐ฟ๐.
I personally appreciated ๐๐ป the video very much, since ๐๐น๐ฒ๐
๐๐ต๐ฎ๐ฟ๐ฒ๐ฑ ๐บ๐๐ฐ๐ต ๐ผ๐ณ ๐ต๐ถ๐ ๐ฝ๐ฒ๐ฟ๐๐ผ๐ป๐ฎ๐น ๐ฝ๐ต๐ถ๐น๐ผ๐๐ผ๐ฝ๐ต๐,
which is why I took my time to prepare this post - because I think it fits very well into the Accelerator University context - ๐บ๐ผ๐๐ ๐ผ๐ณ ๐๐ต๐ฎ๐ ๐๐ผ๐ ๐ฐ๐ฎ๐ป ๐น๐ฒ๐ฎ๐ฟ๐ป ๐ต๐ฎ๐ ๐๐ต๐ผ๐๐ฒ ๐ฟ๐๐น๐ฒ๐ ๐ถ๐ป ๐บ๐ถ๐ป๐ฑ.
๐๐๐ฅ๐ ๐๐ฅ๐ ๐ง๐๐ 20 ๐ฅ๐จ๐๐๐ฆ ๐ฅ
- โณ ๐ฃ๐ฎ๐๐๐ถ๐๐ฒ ๐๐ป๐ฐ๐ผ๐บ๐ฒ ๐๐ ๐ฎ ๐๐ถ๐ฒโฆ
Many believe passive income is effortless, but true financial gains require active effort and strategy. Focus on understanding how much time you invest versus the money earned to maximize efficiency.
2. ๐ธ ๐๐ฎ๐ปโ๐ ๐๐๐ ๐๐ ๐ง๐๐ถ๐ฐ๐ฒโฆ?
Before making a purchase, ask yourself if you could afford to buy it again. This helps you prioritize essential expenses and avoid unnecessary purchases that donโt add value to your life.
3. ๐ ๐ง๐ต๐ฒ ๐ ๐ถ๐น๐น๐ถ๐ผ๐ป-๐๐ผ๐น๐น๐ฎ๐ฟ ๐๐ผ๐ป๐๐ฟ๐ฎ๐ฐ๐โฆ
Long-term goals are essential for financial success. Recognize that significant achievements take time, and establishing a clear, realistic plan will help you stay focused and motivated over the years.
4. ๐ซ ๐๐ฒ๐ ๐ฅ๐ถ๐ฐ๐ต ๐ข๐ป๐ฐ๐ฒโฆ
Avoid high-risk ventures that can jeopardize your financial security. Focus on building a stable foundation before considering aggressive investment strategies or partnerships.
5. โ ๐ ๐ฎ๐๐๐ฒ๐ฟ ๐ฌ๐ผ๐๐ฟ ๐ง๐ถ๐บ๐ฒ, ๐ ๐ฎ๐ป๐ฎ๐ด๐ฒ ๐ฌ๐ผ๐๐ฟ ๐ ๐ผ๐ป๐ฒ๐โฆ
Efficient time management leads to better financial outcomes. Assess how you allocate your time daily and adjust to ensure youโre maximizing your productivity and income potential.
6. ๐ช ๐๐ต๐ฒ๐ฐ๐ธ ๐ฌ๐ผ๐๐ฟ ๐๐ฎ๐ป๐ธ ๐๐ฐ๐ฐ๐ผ๐๐ป๐โฆ
Regularly reviewing your financial status can promote better spending habits. Being aware of your finances helps you identify areas for improvement and encourages responsible money management.
7. ๐ฐ ๐๐๐๐ ๐ ๐ฎ๐ธ๐ฒ ๐ ๐ผ๐ป๐ฒ๐โฆ
Before diving into investment strategies, focus on increasing your income. Developing your skills and finding new income sources can create a solid financial foundation for future growth.
8. ๐ ๐ฑ-๐ต ๐ฎ๐ป๐ฑ ๐ต-๐ฑโฆ
Diversifying your income through side hustles or additional projects can enhance financial security. This dual-income approach can help you weather financial storms and achieve your goals faster.
9. โ ๏ธ ๐๐ถ๐ด๐๐ฟ๐ฒ ๐ข๐๐ ๐๐ผ๐ ๐ฌ๐ผ๐ ๐๐ผ๐๐น๐ฑ ๐๐ผ๐๐ฒ ๐ ๐ผ๐ป๐ฒ๐โฆ
Understanding the risks associated with investments is crucial. Always assess how you could potentially lose money before committing to any financial decision.
10. ๐ ๐ง๐ต๐ฒ ๐๐ผ๐๐ ๐ผ๐ณ ๐๐ด๐ป๐ผ๐ฟ๐ฎ๐ป๐ฐ๐ฒโฆ
Investing in your education is vital for financial growth. The more you learn about money management, investing, and market trends, the better equipped youโll be to make informed financial decisions.
11. ๐ ๐ง๐๐ผ ๐ง๐๐ฝ๐ฒ๐ ๐ผ๐ณ ๐๐ฒ๐ฎ๐ฟ๐ป๐ถ๐ป๐ดโฆ
Embrace both formal education and self-directed learning. Each type of learning has its advantages and can significantly enhance your financial acumen and career prospects.
12. ๐ผ ๐ข๐๐๐๐ผ๐ฟ๐ธ๐ถ๐ป๐ด ๐ฅ๐ถ๐ฐ๐ต ๐ฃ๐ฒ๐ผ๐ฝ๐น๐ฒโฆ
Discipline and hard work can set you apart. Stay focused on your goals, and be willing to put in the extra effort to achieve financial success, even if it means sacrificing leisure time.
13. ๐ฐ๏ธ ๐๐๐ ๐ง๐ถ๐บ๐ฒ ๐๐ถ๐ธ๐ฒ ๐๐ต๐ฒ ๐ฅ๐ถ๐ฐ๐ตโฆ
Wealthy individuals often prioritize investments that save time, such as hiring help or automating processes. Consider how you can invest in solutions that free up your time for more valuable activities.
14. ๐ค ๐ช๐ต๐ผ ๐ฌ๐ผ๐ ๐๐ผ๐บ๐ฝ๐ฎ๐ฟ๐ฒ ๐ฌ๐ผ๐๐ฟ๐๐ฒ๐น๐ณ ๐ช๐ถ๐๐ตโฆ
The people you surround yourself with can influence your mindset and opportunities. Build a network of motivated and successful individuals who inspire you to grow and achieve your goals.
15. ๐ณ ๐๐ป๐๐ฒ๐๐ ๐๐ถ๐ฟ๐๐ ๐๐ฒ๐ณ๐ผ๐ฟ๐ฒ ๐ฆ๐ฝ๐ฒ๐ป๐ฑ๐ถ๐ป๐ดโฆ
Prioritizing investments in your future before discretionary spending can create a solid financial foundation. Automate your investments to ensure you consistently save for long-term goals.
16. ๐ต ๐ ๐ผ๐ป๐ฒ๐, ๐ช๐ฒ๐ฎ๐น๐๐ต, ๐ฃ๐ผ๐๐ฒ๐ฟ๐๐โฆ
Understand the distinctions between money, wealth, and poverty. Recognizing these differences can help you cultivate a wealth-building mindset and avoid common financial pitfalls.
17. ๐ ๏ธ ๐๐ฟ๐ถ๐ฐ๐๐ถ๐ผ๐ป ๐ณ๐ผ๐ฟ ๐ฆ๐ฝ๐ฒ๐ป๐ฑ๐ถ๐ป๐ด, ๐๐๐ฏ๐ฟ๐ถ๐ฐ๐ฎ๐๐ฒ ๐๐ป๐๐ฒ๐๐๐ถ๐ป๐ดโฆ
Create barriers to unnecessary spending while making investing easy and accessible. This strategy encourages saving and investing without overthinking or
second-guessing.
18. ๐ ๐๐ฎ๐๐ถ๐ฒ๐ฟ ๐๐ผ ๐ ๐ฎ๐ธ๐ฒ $๐ญ๐ ๐ง๐ต๐ฎ๐ป $๐ญ๐ฌ๐ฌ๐โฆ
Building larger income streams can often be more straightforward than small, incremental gains. Focus on scalable opportunities that can significantly boost your income potential.
19. โค๏ธ ๐๐ผ๐๐ฒ ๐ ๐ฎ๐ธ๐ถ๐ป๐ด ๐ ๐ผ๐ป๐ฒ๐โฆ
Cultivate a positive attitude toward earning and financial success. Embracing the process of making money can lead to greater motivation and fulfillment in your financial journey.
20. ๐คฒ ๐ ๐ฎ๐ธ๐ฒ ๐ข๐๐ต๐ฒ๐ฟ ๐ฃ๐ฒ๐ผ๐ฝ๐น๐ฒ ๐ ๐ผ๐ป๐ฒ๐โฆ
Focus on providing value to others, as this will ultimately lead to your financial success. When you help others achieve their goals, you create mutually beneficial relationships that can enhance your own wealth.
What is your favourite rule out of those 20 rules? Would you add / delete one?
Give it a thumbs up ๐๐ป, if any rule is a particularly important one for you ๐ซต๐ป
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No BS ๐ฉ๐ซท๐ผAdvice to Get Rich in the Next 10 Years
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