becoming a millionaire is easy, actually

life's not fair random people get rich cuz they're in the right place at the right time people get millions of dollars cuz of a lucky moment and there are millionaires out there who did nothing except buy Dogecoin when it was cheap everyone has their own path to a million dollars and most people spend their whole life trying to get there but luckily this video will teach you some shortcuts step one let's make it clear do you want to become Ultra rich or do you just want to become financially free you might think you want to

get Ultra rich like 100 million net worth but it's not as good as it seems it's kind of like Monopoly it's fun at first watching your pile of cash grow and grow and it's fun buying half the properties on the board and building hotels and houses everywhere but after a while you get to the end game there's nothing left to buy all you can do is cling to the money and hope you don't lose it and either way you end up spending half your turns in jail on the other hand just becoming a millionaire is

easy enough where it doesn't require you to dedicate your entire life to chasing money you don't have to stress about building a giant company you don't have to manage hundreds of employees you don't have to work all day and you can pretty much buy everything you need really of course there's no problem with trying to become super rich or trying to become a billionaire but you really have to want that life if you're just doing it cuz you want to be famous you'll be disappointed in fact if you look at the Forbes list of the

top 1,000 richest people you won't recognize 99% of them most of them are lucky if they can even get a profile picture on the website step two understand assets and liabilities here's the definition of a millionaire someone whose net worth is over a million dollar your net worth is equal to your assets which is the value of all the stuff you own minus your liabilities which is all the money you still owe to other people an asset can be anything you have that's worth money like a car a gold bar a pile of physical cash

cash in your bank account a house that you own your stocks your Bitcoin your $200 pressure washer it's an asset cuz you own it and it's worth money the cool thing about assets is that they can go up in value over time if you buy a house for 500k and it increases in value to 1.5 million your net worth goes up by a million in case you didn't know a lot of millionaires are made through real estate because the concept itself is pretty simple step one you buy a property which isn't actually as hard as

it sounds you don't need to give up 500k to buy a 500K house you can pay 20% of the price in cash and take out a loan to pay the rest then step two you get people to live in the property the people living there pay you rent every month and you can use that money to pay back the loan you took out and also over time the value of the property Goes Up So eventually you can get to step three where you sell the property and you make a profit it does take a decent

bit of money to get started and it does cause a lot of stress especially cuz you always have the risk of losing money but on the bright side if you simply just take the time to read books about real estate and not just go into it blindly you'll probably do just fine and really that goes for any skill the only problem is at least for me it takes weeks to read a book and there's just so many books out there that's just impossible to decide what to read so in the end I just don't read

the way I fixed it is by downloading an app called short form which has a giant online library that contains full guides to books but in a shorter format chapter by chapter every single important detail with annotations with clarifications with comparisons to other books and they even have exercises that help you retain more information this video is sponsored by short form so I put a link down below if you want to try it for free what I just read is this book called the book on rental property investing and it talks about the biggest mistakes

people make when getting into real estate how to find a good property how to actually purchase it and all the dirty details of paperwork and getting tenants and maintenance and it's a 400 page book but you could finish the short form guide in just a few hours they have books on starting a business finance investing even books about social skills so if that sounded helpful to you you get free access to it for 5 Days by going to short.com actually and if that wasn't enough you'll get a 20% discount off the annual subscription just by

using this link again it's short.com actually if you scroll down it'll be there let's say you start a business and somehow you make a million dollars from it it's all sitting in a bank account are you a millionaire yes or no the answer is actually no that was a trick question you forgot about the taxes rookie mistake say goodbye to 50% of that remember the first rule about becoming a millionaire you'll have to pay taxes which means if you want to make a million you actually need to make 2 million just to be safe so

why don't we get into how to actually make the money you have four options earn $2 million from buying and selling assets like we already talked about earn $2 million from working a job earn $2 million from starting a business or some combination of all three earning $2 million through a job takes time even if you make 200k a year it'll take you 10 years to reach 2 million but there's a reason people get jobs and there's a reason not everyone is trying to start a business most businesses fail that's just a fact the average

person probably has to start and fill at least five or six different businesses before they realize stuff like you should validate your business idea you should know how to make a good offer you should know how to find customers you should know how to build systems and you should know how to make profit and a bunch of other tiny realizations that you'll probably have to learn from experience it's probably going to be rough but a job is relatively stable It's relatively low risk and unlike starting a business you can pretty much guarantee that you'll succeed

the key to getting a high-paying job is the same key to building a profitable business and it's a concept called Leverage just look at this this is a lever you might call it a seesaw but it's the same thing on the right side there's a heavy Rock and you have to lift the Rock by pushing down on the left side side if you push here you can lift the rock a little bit but if you push here with the same amount of effort you'll send the rock into the stratosphere most people who want to get

a high-paying job are pushing here you could spend hours trying to make your resume look good but if your resume is blank if you have no skills to put on there it doesn't matter if you put 50 hours into it it's not going to get you hired anywhere if you want a high-paying Tech job you could apply 2,000 companies but if you don't know anything they're not going to hire you when you're just starting out the highest Leverage objectivity is learning useful skills getting experience reading textbooks taking courses and certifications practicing the skill doing projects

by yourself to learn and then putting all that on your resume once you do that you can apply to half the number of jobs and still get 10 times as many acceptances if you're spending a lot of time on something ask yourself is there something else I could be doing that would get me more results for the same amount of effort Leverage is even more helpful in a business this is The Leverage pyramid these are the things you can use in the business to multiply the effort that you put in and make it physically easier

to become a millionaire the first form of Leverage is labor this means getting other people to do work for you no one likes to hire and manage people but it can make your business a lot more profitable because everything that you don't like to do you can just give to someone else next Capital leverage involves investing your money or borrowing money and investing it into something that'll multiply the money you put in then at the top of the pyramid is code and media if you want to build a million-dollar business but you don't want to

hire employees and you don't have that much money to start with you'll probably need to use code or Media or both code provides some of the best leverage you can get it gets robots and computers to work for you for almost free and they can even work while you sleep so this could mean using AI or writing code or using apps to automate stuff instead of doing it manually the last and most popular form of Leverage especially for a oneperson business is media media allows you to contact large amounts of people at once with whatever

message you want YouTube Twitter LinkedIn Instagram email even Facebook pretty much every social media works for this instead of having to contact thousands of potential customers every day you can just post content about your business on social media and then the algorithm will figure out who to show it to so the key takeaway is no matter what business you want to start if you use the things in this pyramid you don't have to change your skill set or even change how hard you work you just look for activities that'll give you more output for the

effort that you do put in now at this point you might be wondering what business to start or what to sell and the truth is whether or not you own a business or work a regular job all money is made by providing value don't chase money itself the money will come if you provide value so if you want someone to give you money sell them a solution to their problem if someone's getting bad grades you sell them tutoring if someone wants to lose weight you sell them them a diet plan if someone has a crusty

driveway you sell them your pressure washing services and here's some Pro tips to make more money the bigger the problem is the more you can charge if you're a diet coach you can charge more for a 50 lb weight loss diet plan versus a 5B weight loss diet plan it all depends on how you Market it the quicker you can solve the problem the more you can charge if you can promise someone they'll lose 50 in 10 weeks they'll be willing to pay a lot more than if the plan took 10 months the easier you

can make it for the customer the more you can charge if you tell someone they can lose 50 lb in 10 weeks while still eating mac and cheese and ice cream they'll be willing to pay a lot more than if you told them they had to eat only broccoli and lettuce for 10 weeks if you can guarantee the problem will get solved you can charge more if you have proof that you helped 100 other people lose 50 in 10 weeks and you also offer a money back guarantee if the diet plan doesn't work you can

charge a lot more than someone who doesn't have any proof or credentials and finally the more more money your customer has the more you can charge even if everything else is equal you'll still make more money helping 41-year-old investment bankers lose weight than helping broke high school students if you're selling something for $2 you have to sell it to 50,000 people a year to make 100K a year if you have something that's $2,000 you only have to sell it to 50 people and this often brings up the question why not just find one really big

business that's really rich and charge them 100K per year and you just dedicate all your time to helping them and no one else indeed this is one of the best ways to become a millionaire and it's called getting a job anyway I'm collecting donations in the form of subscribes to fund the next video