8 Things To Do And NEVER Worry About Money Again

Hey guys, on this video, I'm going to tell you exactly what to do if you want to be a millionaire in 15 years, okay? No gimmicks, no scams, no get-rich-quick schemes, none of that guys. I'm going to tell you just simple steps that you can do to get there in 15 years. Now guys, stay tuned to number 5, 6, 7, and 8 because combined they are huge and I want to make sure you stay tuned to this video for those. And also guys, stay tuned for the bonus that I'm going to give you that's going to help make all of this possible. Now guys, my journey was that at the age of 30, I had a negative $30,000 net loss to my name. I didn't even have a net worth, right? But now, I've got a 7-figure net worth and I didn't do it with anything fancy and I didn't hit the lottery. I didn't do anything illegal, just some really basic fundamental things that I want to break down to you on this video. Number one, the first thing to do is you have to get in the habit of tracking your net worth. You have to get in the habit of figuring out what is my assets and what is my liabilities and how can I bring the assets side of the equation up. Anything that you begin to focus on will grow. If you focus on your net worth, it's going to make a difference. So the first thing to do is to spend at least four times a year, once a quarter, figuring out what is your net worth. You can do this on a spreadsheet. I do mine on a spreadsheet, a Google sheet. But you can do it on a piece of paper, however you want to do it. But figuring out your assets on one side of the paper, your liabilities on the other side of the paper, add up your assets, get that total. Add up your liabilities, get that total. Take your liabilities, subtract them from your assets. That gives you your net worth. Now, if you do this over the course of 15 years, I can pretty much guarantee you guys that your assets side of the equation is going to grow and your liability side is going to go down. But this is your measurement. This is your tracker. And that's why I put it first, because you want to be keeping up with your progress. Now, number two is this. Not only do you want to be tracking your assets and liabilities, but you want to be tracking your income and your expenses. Your income and your expenses can be tracked by a monthly budget. Now, here's why you want to do a budget. It keeps the guardrails up around you. It gives you parameters. It gives you some discipline with your money. It gives you what to do and what not to do because it just don't fit in the budget. Your budget also gives you a clear picture of what you have left after you pay all your bills. So after you pay all of your bills, your expenses every single month, now you have a cushion of money. That cushion of money is what you're going to take and do these other things that I'm mentioning on this video. You have to pay attention to your money and be intentional about your spending. And so that's why you want to make a budget every single month. Guys, no joke. I've done more than 330 some odd budgets in a row on a monthly basis. Tracking back to 1994, when I first came out of college and got my first apartment and had to figure out how to manage my money, I started budgeting monthly and I did it on a piece of paper. Actually, I did it in a notebook, like a ledger book for 20 something years up until about three or four years ago when I finally put my budget on a Google sheet. But you have to get to a point where you're doing a monthly budget for the next 15 years. You're tracking everything. You're paying attention. Now I know some of you are going to reject that because you just don't like to do it or you just don't want to do it or you just don't feel like being that organized with your money. That's totally up to you. I'm giving you the blueprint to be a millionaire in 15 years. Whether you follow that blueprint or not, it's totally up to you. Hey guys, if you're getting anything at all out of this video, do me a favor, smash the like button, subscribe to this channel if you're not a subscriber, and also guys, drop me a comment below and let me know what you think about this content. Now number three is this. The third thing to make sure you have $1 million of net worth in 15 years from now is you have to quickly put aside three to six months of emergency money. You got to do this quick. You can't let this linger on for two or three of the 15 years. You got to do this immediately. And some of you, you already have it, but if you don't have it, when you figure out your budget and you have your monthly expenses, your monthly needs for the month, now I'm not talking about having an emergency fund that has eating at the restaurant two days a week in the budget. I'm not talking about those expenses that are wants. I'm talking about three to six months of your expenses that are needs, your water, your lights, your utilities, your housing, rent or mortgage, your car or bus fare, whatever you use, your train money, whatever you use to get around the city, right? For transportation and all of the household things that you actually need. Get three to six months of that money now as soon as possible because you don't want to waste your 15 years trying to get your savings together. So do that up front. Now number five is invest 15% of your money into the stock market. 15% of your money goes into investments in the stock market, whether it's a whole plethora of stocks. And when I say a plethora, if you're going to do individual stocks, guys, you got to do 50, you got to do 75 different stocks in different sectors, right? Or you can do mutual funds or you can do index funds or you can do ETFs or you can do a combination of all of them, whatever you want to do guys. But you need to be putting money in the stock market on an aggressive trajectory. Let me give you an example. If you earn, let's say you make $75,000 a year, that's your total gross earnings. If you put 15% of your $75,000 into the stock market, into say index funds, that's about $11,250 a year into index funds over the course of 15 years at about 9% rate of return. You're going to have about $360,000 in the stock market after only 15 years of putting 15% of your salary of $75,000 into the stock market. Now, if you continue that 15% though, guys, if you're making $75,000 today, you're probably going to be making 80, 90, 95, $100,000 in 10, 12, 15 years from now. But if you continue to put 15% of that into the stock market, you're going to have close to $400,000 in the stock market in just 15 years. That's 15%. Huge. Make sure you're doing that, which sort of leads me to number six. Number six is this. When you make more money, don't spend more money on frivolous things. When you make more money, put that extra money into your investments, into the stock market. This is really key because what happens to most people, guys, is when they start making more money, they start spending more money. If you could do yourself a huge favor for down the road and try to keep your expenses about the same over the course of the next 15 years, other than the natural cost of food is going to go up, the inflation itself is going to carry some things up. But if you can, for the most part, keep your expenses the same, what's going to happen, guys, is over the course of 15 years, you're going to see your income go up and you're going to see that cushion on your budget between what your expenses are and what your income is. That cushion is going to increase and increase. You're taking that increase and you're plugging it back into your investments, the stock market. Number seven is this. Buy yourself a primary residence. Purchase a home for yourself. Could be a townhome, could be a condo, but purchase yourself a piece of real estate to live in. When you purchase that piece of real estate to live in, put it on a 15-year note. Put it on a 15-year mortgage so that in 15 years, you pay it off. I don't care if it's $150,000 piece of property or if it's a $700,000 piece of property. Put it on a 15-year note that you can afford to pay and pay it off in 15 years. In 15 years, you'll have a piece of real estate that you own. Now, here's number eight. Number eight is very similar. Number eight is buy yourself one piece of rental property. I don't care if it's a duplex. I don't care if it's a fourplex. I don't care if it's an eight-unit building or a 10-unit building. I don't care if it's just one single-family home. Buy a piece of rental property, just one. Put it on a 15-year note. Pay it off. Now, here's the deal, guys. When you have a piece of real estate that you live in and you pay it off in 15 years and you have a piece of rental property that you pay off in 15 years, you've now got two pieces of property that you own outright, free and clear. Let's say for example, just for example, you buy a $300,000 house for yourself today and you buy a $200,000 piece of rental property, one single-family piece of property. Your $300,000 home that you bought for yourself will probably in 15 years be worth $400,000. The $200,000 rental property that you bought today may be, let's say it's only worth $250,000 in 15 years. Well, that $250,000 paid for rental property plus your $400,000 piece of property that you own that you live in is $650,000. Now, also, remember before, you were also putting 15% of your actual earnings into the stock market, right? That was about $360,000 and because you kept putting more of your money in it when you made more money, it's about $400,000. You take that $250,000 on the rental property plus your $400,000 on your own property, that's $650,000 and then you add in the $400,000 that you have in the stock market in 15 years. You have money in the stock market and two paid-for properties. You have a net worth of over a million dollars. You have to make sure that during that 15 years, you get completely out of consumer debt. Now, if you're free of consumer debt and you have a $400,000 primary residence and a $250,000 rental residence, rental property all paid off and you have almost $400,000 in the stock market, now you're worth over a million dollars in just 15 years. Now, some of you are saying, that is totally unrealistic, but some of you are probably saying that's doable. I can see that in just 15 years. Some of you that may be 30 years old, you can be a millionaire by the time you're 45. If you're 45 years old, you can be a millionaire by the time you're 60. If you're 50, you can be a millionaire by the time you're 65. You understand what I'm saying, guys? This is very, very doable. Now, can it be done on a 50 or 75,000 or $80,000 salary? That's up to you. I can't tell you exactly what your expenses are, but I can tell you that I know the formula that I just gave you is possible. I know it because I know people that are doing it. I get calls from people, guys, and emails from people that are telling me about their stories and about what they're doing. I know that if some people can do it, then it's possible. Everybody's situation's slightly different, right? Some people live in California. Some people live in Nebraska. Some people live in Florida. Some people live in Dallas, Texas. Some may live in the heart of San Francisco. Listen, you have to make this work for you based on your own personal financial situation. Sometimes you got to make a hard choice if you want to get to a hard place. Sometimes you got to make a decision that is difficult if you want to get to a place that is difficult. If you want to go where there's not many people at, you got to do some things that not many people are willing to do. Hey, guys, if you got anything at all out of this video, do me a favor and smash that like button. Hit that thumbs up button for me, guys, and drop me a comment. I'm curious. I want to know is this possible in your mind, or just let me know what you think in the comments below. Hey, the best person that's going to take care of the old you is the young you right now. Take care of yourself, guys, and do me a favor and take care of other people along the way. Until the next video, peace.