The 7 Millionaire Skills I Wish I Knew At 18

Now listen to me, your income and wealth is merely a reflection of your personal life. And that's why if you want to be a millionaire, you need to have the skills of a millionaire. And that's precisely why in today's video, I'm going to take a time machine and go back and share with you the seven millionaire skills that I wish I knew when I was 18 years old. Now, some of these millionaire skills, I actually implemented and was one of the big reasons why I ended up making my first million dollars profit at the age of 18. But some of these I completely overlooked. And the fact that you're watching this video, I guarantee if you take the things that I implemented, plus the additional skills that I didn't implement at the time, I guarantee you're probably going to be even more successful than I was. And that's why this is going to be a very exciting video. And if you are even remotely serious about your success, you're going to want to watch the full thing. The first millionaire skill that you need to learn, and this one might really, really shock you is stop watching the news. Now, there are a few reasons for this. The first one is you already have so much on your plate, right? Like you've already got a big task in front of you, which is, you know, becoming a millionaire. You don't need all these additional extra inputs and stuff like that. And quite frankly, look, there's nothing that's going on in the news that you're going to be able to affect change in this world. As harsh as this sounds, the only way that you can affect change is if you have money or you have an audience, aka a platform, but you don't have either of those things. Like you're just trying to, you know, before you can take care of other people and deal with world issues and this and that. And by the way, this is coming from someone who's built schools for over 2000 kids in Nepal, you know, like I do my part, but I'm telling you, I couldn't have done my part if, you know, when I was 16 or 17 years old, I was consumed by the news. And I'm like, you know, how can I affect change in the world? Like, no, I had to affect change in myself first. And then once my life was abundant, I could share that abundance with the world. So that's number one. It's like, like anything on the news, it's first of all, not going to affect your life. Like, you know, even when everyone argues about what president is and this and that, like those do have some changes, but like in your personal life for the goal of just trying to get to where you want to get to, I can tell you has no difference. So that's the main reason is you've got so much on your plate and you're not really going to be able to affect change out there in the world based on the news. And the news isn't particularly going to affect you at your stage. And lastly, and you'll learn this as time goes on, you can't trust the news. I mean, I feel as though like it's been very fun for me to watch the last three or four years for people to really, I think, start to come to But even from the age of 12 years old, I was super diligent that I specifically did not watch the news because I just knew it was one big conglomerate and that it was all owned by a very small subsection of people. And that's why when I do try to learn about something, I'm definitely not looking at the news. So millionaire skill number one. And by the way, this is very funny because, you know, I've got told growing up, hey, you know, millionaire successful people, they watch the news, they stay informed. And yeah, maybe that may have applied in the 80s when there was sort of some sense of real journalistic integrity. These days, it's just not true at all, right? You'll be substantially poor if you do follow the news. So that goes ahead and knocks off number one. The next skill you need to learn is a high income skill. Now, this is truly the basis of everything that you want in life. And even better than that, not learning one high income skill, but learning multiple high income skills and stacking them together. I mean, you can almost imagine Lego blocks, the more of these high income skills that you can stack, the more money that you'll make. So when you're looking at something and you're deciding, hey, should I put my time and effort into this? Should I learn this skill? Ask yourself, is this a high income skill? Is this a skill that will continue to pay me over the years? You know, a couple examples of high income skills is learning online marketing, coding, content creation, sales. Millionaires have a high income skill that is valuable to the marketplace. Multi millionaires have multiple high income skills that are valuable to the marketplace. Now, I know that this is easier said than done, and you might be stuck as to like, hey, where do I actually get started? That's why earlier this year, I literally locked myself in this room for four full days to get to the bottom of the question, which is what is the best high income skill in order to make $100,000 a year online? Now, I actually evaluated all this by creating the money making matrix. Now, what it does is it evaluates all the best business models online, and then it uses data and a very specific formula to assess truly what is the best business model in 2022. It's been one of my most popular YouTube videos in the last year, the comment section, people absolutely love it. So if you want to go check out that YouTube video, I will leave it in the first link in the description for your convenience. Anyways, let's move on. Now, skill number three is something that even multi millionaires and billionaires struggle with to this day. And the sooner you learn this skill, the sooner you'll become a millionaire. The next millionaire skill is learning to say no. Now, this is something that I was amazing at growing up, but kind of as I made my first few millions, you know, you get distractions and you get opportunities and this and that, and you just, you start to pile on a little bit more things in your life, but it's so important to stay disciplined and say no to 99.9% of things, because when the right things come up, you want to make sure that you actually have the bandwidth and the space in order to go all in with those opportunities. Learning to say no is one of the best skills you could learn in your life. And especially when you're first starting out, it is so important. Learn to say no to your friends that want to go out and party. Learn to say no to favors. You know, you don't always have to do favors for people. And also very importantly, learn to say no to certain opportunities if you've already committed to one, and you know that it's the right thing to get you to where you want to get to. Saying no is a way to have respect for yourself, as well as what you're trying to accomplish and who you're trying to become in life. Now, moving on, everyone travels, but it's a real skill to know how to travel. And that's why millionaire skill number four is travel, but travel less. Now, traveling to put yourself in a new environment can actually be incredibly productive for you. In fact, I spent a large portion of my year in Cape Town to just kind of get away from the noise. And it's a great place for me to sort of work and focus. The key is I go there for two to three months when I actually go. Now, you might be wondering, Iman, why did you include this as the fourth millionaire skill? And that's because I've seen something that really, really trips people up. And it's not when they first start, it's when they make their first 100,000 or 200,000 or 300,000. They make those sort of numbers, you know, they make six or multiple six figures. And then they're like, you know what, this is cool, but I could be traveling and doing this, you know, and they start traveling around the world. And they've, you know, they're flying every two weeks or three weeks, and they're sort of nomading, and they have to constantly adjust their new environments, they have to find a gym, they have to find, you know, restaurants they like, they have to, you know, find a local supermarket that they like, you know, there's just so much instability in their life. And as I said, I found that digital nomading really, really caps out people, you know, here's the thing, if you want to make 100k a year, or maybe even 200k a year, that's awesome, then you know, for sure, you know, do your digital nomad thing. And I think if I was digital nomading right now, it will work. But that's because I've had my main business, you know, my advertising agency for six years at this point. So I've learned how to build systems and stuff like that. But for someone who's just starting out, as I said, it's really important to have that stability of, you know, environment, you know, and just having your environment optimized. So traveling is fine, you know, everyone needs to travel, just be a lot more conscious. And also, when you travel, try to travel to places that are, you know, you're gonna be spending the same amount of money as wherever you live, or potentially even save money by traveling. You know, that's why I love Cape Town, Medellin is also a really great option. And Kiev, you know, used to be a really great option before, you know, obviously, all the unfortunate events that are happening there. And very interestingly, that actually brings up one place I always see people travel to, but is a horrible, horrible place. If you actually want to get anything productive done, and that is Bali, it's very difficult with time zones, it's in a very weird place in the world. That's number one, number two, just sort of the nature of it. It's like everyone's in shorts and flip flops. And it's, it's just very, very, you know, I spent a lot of time out there. And I've spent extended months out there. It's just a very hard place to really, really scale up your business and make that first million. So as I said, I wanted to include this as millionaire skill number four, because I see a lot of people, not when they're first starting out, but once they make a, you know, initial decent amount of money, I see a lot of people, you know, get tripped up with this. Now, the next skill is the one out of seven that I personally didn't learn sooner. And I'm absolutely kicking myself because of it. Millionaire skill number five is start investing today. Listen to become a millionaire, the most important thing is learn a high income skill and build a business. Now to stay a millionaire and then also multiply that wealth and continue to live the lifestyle of a millionaire, you know, over the future years, the most important thing is invest. You know, let me tell you something. A lot of people aspire to make a million dollars, but the issue is like, first of all, you have to pay taxes. That's number one, but let's say you even make it, you know, uh, after, after taxes net, right. So you have a million dollars. So either you live like a millionaire, right. And you'll spend, you know, hundreds of thousands a year. Let's say, you know, if you really want to live a good lifestyle, you know, uh, fly, you know, business and first class everywhere and stay in really nice places and dressing really nice stuff and have a nice car and nice watch. And, you know, sort of like millionaire lifestyle, you're going to spend, you know, 300, 400, 500,000, you know, it's very easy to even spend a million or 2 million a year. I'm, you know, just being honest, you know, if you want to live like a true, you know, millionaire. Um, so yeah, let's say you spend 400,000 a year. Well, you can only sustain that for two and a half years, or what you do is you live off your passive income. And, you know, let's say you make anywhere from a seven to 10% return. That's very, very reasonable with some of the options out there right now. Um, so yeah, let's say from a million dollars a year now yields you seven to 10%. So you can only live off 70 to $100,000 a year, which, you know, you can live very well for sure. But like that sort of like image in people's mind of like millionaire lifestyle, like that's not, you know, you're not going to be able to live like that off, you know, making your first million dollars after tax. So that's why it's important to keep growing your income and keep making money and then invest it. So that way, at some point, your investment portfolio actually lets you live that millionaire lifestyle. And in my case, unfortunately, I only started meaningfully investing when I turned 20. After I'd already made millions from the business, investing isn't sexy. And it's not the best tool in your arsenal for offense, you know, building your businesses and continue to grow your business. But it's not only about offense, it's about defense to when you invest your money, you also don't spend as much because you actually have a place to put it to. Now I know a lot of people say that, well, you know, you can just save and you can just put in cash. But it's just at some point, you're like that it doesn't bring you anything. It doesn't bring you any yield. It's not exciting. It's just sitting there, just numbers in your account going up. Whereas when you invest in, you know, you see your portfolio rise. And, you know, especially if you start earning passive income from it and you know exactly how much you're making every week or every month from passive income, it becomes so, so, so addictive. Invest now, whether that's crypto, whether that's stocks, whether that's even having in stable coins, just, you know, earning you passive yield every month or even alternative investments like, you know, NFTs, watches or any sort of collectibles, whatever it is, start investing sooner rather than later. And by the way, I don't care if you make a thousand dollars a month. That's doesn't matter to me. Still invest two hundred dollars of it because really it's about getting in the habit, because once you get to a point where you're making a hundred thousand dollars a month, which trust me, if you're watching this sort of content, it's probably a lot sooner than you think. If you get to that point in life, then you have the habit of investing at least 20 percent of your income. I mean, at one hundred thousand a month, it should be even more than that. And you'll be surprised. There's a lot of people out there who make millions a year but spend millions a year. So start investing is AP. The next millionaire skill will save you a lot of money and also really increase the quality of your life along the way. And that's actually getting a really good tailor. Now, once again, this may be one of those skills where you're kind of scratching your head and going, man, why have you included this? And it's for a simple reason. Once people start making money, I see people waste so much money on expensive clothes, you know, designer brands, this that when instead all you had to do was go to Uniqlo or Muji or like one of these really sort of high quality brands with, you know, no graphics or anything like that, you know, take an item from there, go take it to your tailor. And depending on the item, it'll cost you anywhere from 20 to 40 dollars per item is that you don't need to go to the most expensive, expensive tailors. And you will look like a million bucks rather than wasting all this money on brands. The clothes are such a waste of money. But at the end of the day, fashion is a big part of our life. And by the way, this is coming from someone who doesn't wear items that are cheaper than five hundred dollars. I mean, you know, even just a simple white cotton tee like this for me is five hundred dollars. You know, most of the time, one of my outfits will cost anywhere from five to twenty thousand dollars between the shoes, the jeans, the shirt or sweater and jacket, you know, and there's not a single brand in sight. You know, I really like very high end brands and I like really good quality and finishing rather than, you know, just your designer stuff. Now, I know that is ridiculous, but, you know, in my position with over eight figure investment portfolio in a business to make millions a year, I really like fashion and I really don't like labels or brands. I like to be, you know, more under the radar with what I wear. But that's an area of life that I still like to spend a lot of money in. So as I said, this is coming from someone who spends a lot of money on their wardrobe. And I'm even telling you, it's so unnecessary. You know, back in the day, I used to go to some of these brands like Uniqlo, Muji, or I'd even go to, you know, outlet stores of some of the brands that I liked, you know, brands like Zadig and Voltaire, Sandra, which are a little bit more on the pricier side. But if you go outlet stores, you get very cheap or I used to even go to second hand stores, especially when I lived in London. There were some really good second hand stores that had very nice brands. It's just they've been worn before. And I would take all this cheap or at least relatively inexpensive clothing and I would take it to my tailor and I would look way better than the people who spent ten times as much as I did. But they didn't bother to get their stuff altered or tailored. And as I said, I was doing that stuff, you know, two, three years ago when I'd already made millions of dollars. So as I said, the reason I include this in is because it really pains me to see people who are on their way to making their first million dollars. And that's a very important point in your life. And they're wasting money on designer brands and this and that. Like, so I could have called this skill like, hey, just don't spend money on designer brands. But as I said, get a tailor and you're going to look way better than the people who are spending ten times as much as you in any case. As I said, clothes are an inevitable cost in life, but you might as well be a little wiser when you shop. Now, the last millionaire skills is learning how to use credit cards and get rewards. Now, I only started using credit cards when I had just turned 20 and not only just credit cards, but even just like loyalty programs for things that I was using often and stuff like that. Like, I just should have started way, way sooner or, you know, even just registering profiles at different places I was shopping and stuff like that. Like, I just should have been smarter with this stuff. And it's very painful because I said I only got my credit card right when I turned 20 and there was millions of dollars of spending that I'd done between myself and the business that I could have gotten rewards for. Now, I must stress that it's incredibly important that you actually trust yourself with a credit card and you know that you're the type of person that will pay it back on time. But if you can do both those things, then a credit card is incredibly, incredibly valuable. I mean, from the spending that I do on my Amex anyways, you know, I live in Dubai, so I fly Emirates basically everywhere. I get 55 upgrades a year from either economy to business or business to first class. I don't fly 55 times a year or even better. I get 14 round trips, right? So return business class free a year. And if any of you guys have flown Emirates before, you know that their business class is very, very good. You know, it's not like European airlines, like, you know, you have your own bed and you have your own little sort of like private suite and stuff like that. So it's great because my assistant, if it's a night flight, I just end up booking business because I'm sleeping anyways. And a bed is a bed, especially if you have your own space, like you do on Emirates A380. Or if it's a day flight, then we book business and get instant upgrade to first class with points entirely for free. So not only that, I also get upgraded at so many hotels because of my American Express card as well, which is super ideal. And there's tons of great other benefits and rewards as well that come with it. Now, I know that you guys obviously won't be spending as much for your business and personal as I will. But, you know, especially with some of the incredible sort of reward programs they get for signing up and spending a certain amount within, you know, within the first two months or three months of joining or whatever, you can easily get a few upgrades a year. And that alone is great and totally worth it. As I said, if you're spending that money regardless. So ladies and gentlemen, with these seven millionaire skills, not only will you be able to make your first million, you'll be able to keep it. And most importantly, you'll also be able to multiply it. Now, I want you to go ahead and leave me a comment down below. What millionaire skill do you think I left out? I'm going to be reading all of them and responding to you guys as well. I hope you enjoyed and catch the next one.