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3 Ways To Build Wealth Starting With No Money!

Most people who teach how to get wealthy, are not giving the best advice because they are starting from a point of already having money. This advice is tailored for people who want to get wealthy starting with no money.

I will also be teaching how to build wealth starting from nothing, even if you're only in your 20's!

Getting rich is more of a science than a game of luck. There are certain principles you must follow if you want to get wealthy in a short amount of time.

1. Time Vs Money: People who are in a regular job will exchange their time for money. Although this can work if you are in a extremely high paying job, for most people due to the high taxes he will pay on your income, building wealth this way will be extremely slow and difficult.

If you look at the wealthiest people like Warren Buffett, Bill Gates, and Jeff Bezoz, you'll notice that they leverage businesses and shares in order to generate their wealth. They don't exchange their time for an hourly wage. They also don't pay anywhere near the amount of taxes that you do as a employee.

2. Education: when I refer to education, I'm not necessarily talking about a formal education such as at school, college or university. I'm referring to a financial education, Or a personal development based education.

Examples of topics to study here are: Self development, finance, marketing, sales, business, entrepreneurship, just to name a few...

Don't worry if you don't have money for these things, because you can go to the public library and borrow books, educate yourself via Podcasts, or simply watch YouTube videos with some of our greatest minds are sharing their insight.

Why not start an education fund for yourself today? Just allocate 5% or 10% of your monthly income to this education fund and your see your income start to grow!

3. Save, Save, Save! You've got to save at least 10% of your money monthly, but I would recommend 20% monthly. It's just not possible to become wealthy without having a pot of money to get you started.

Once you've got enough money saved up in your Investment account, you can then start to make small investments and then adjust your strategy as you go. At first, you make a lot of mistakes... This is normal and part of the process of learning about investing. Just be really careful not to invest your entire pot of money into one investment where someone is offering you a get rich quick scheme... I can tell you from experience that there is no such thing! Get rich quick only exist for the person receiving your money.

Once you start to gather experience, my recommendation would be to then start to invest your money into either a small business that you start up, or even consider leaving your job to go self-employed once your self-employed income reaches around 75% of your full-time job income. This way you can then grow your self employed income or business with the added time you now have.

I can only share with you what I did to become successful. I made lots of mistakes and lost a lot of money at the start. But then as I started to have small successes, I built upon these by growing each business and increasing the profitability, (and therefore my monthly income).

I'm certainly no Warren Buffett today, but I am happy with my income and I live a life of freedom the way I want to, on my own terms. No one tells me when I can and cannot take holidays or days off. I don't need to report to anyone or be told what to do, to me.

I wish you all the best on your journey my friend! Good luck!

DISCLAIMER
This video is for entertainment purposes ONLY.
I am not a financial advisor or attorney. These videos shall not be construed as tax, legal or financial advice and may be outdated or inaccurate; all decisions made as a result of viewing are yours alone.