1. Earn more money.
This is still the fastest path to wealth, and will cause you to grow and contribute like no other.
Wealth creation truly is a spiritual game. I’m a fan.
Make offers. Lots of offers. Do lots of research, build MVP’s and HOD’s and make more offers.
Make money, nail it, scale what works, cut what doesn’t.
Invest in yourself and learn more skills so you can earn more money.
People might think it’s risky to start a business.
I think it’s riskier NOT to have your own business nowadays.
At the very least something you do on the side so that if your job goes sideways you have something else to fall back on.
2. Use the proven wealth creation strategies of the ultra wealthy.
Did you know that there is an investment where you can:
Remove market risk and volatility
Become judgment proof
Increase your net worth substantially
Borrow money from yourself and pay yourself back with interest
Protect your wealth for generations against spendthrift heirs
Double invest on your own time when the market dips, while still earning a return
Have additional benefits if you get sick or injured
and much more?
Pretty sweet if you ask me.
Most people don’t get this but it’s a game changer.
3. Roth IRA.
I know it’s boring but I’m up over 120% in the last 4 years in my Roth and it’s all tax free.
And there are strategies that allow you to do so much more, ask me sometime about how Mitt Romney had $150M in his Roth when you’re only allowed to put in $6000 a year.
The IRS said it was aggressive, but legal.
Things that make you go hmmmmm. And make you think.
And when you figure out how he did it, go Eureka!
Also a bonus strategy, that I just learned recently, selling puts on dividend aristocrats (companies that have increased their dividend each year for at least a decade) and are trading at least a 4% dividend, then when you own them (at a discount) you reinvest the dividends and write covered calls to generate additional cashflow, and just keep moving the money around, earning 15-25% a year when all is said and done.
You actually make more money when the stock price doesn’t move than when it does. Imagine that.
Thank you Ryan Moran for that little gem. A very shrewd and smart individual.
4. Real Estate
Specifically leveraging 30 year mortgages at low interest and using lines of credit to pay them off in chunks and crash through the amortization table, paying them off in 1/4 of the time while increasing equity you can borrow against and accelerate your wealth creation.
Then you reinvest.
The net effect is you own 8 properties in the same amount of time that it takes most people to pay one off.
Real Estate definitely carries with it a learning curve and costs time and energy and attention to manage but like anything once you learn you can make it simpler and easier.
5. Crypto and other high risk stuff.
I’m still HODLing, but if you haven’t been in for a decade plus like me, I would wait for pullbacks. I believe everyone should keep 1-5% of their net worth in crypto.
It’s just stupid not to with the way we’re printing money…. and if crypto ever becomes even 1% of all money (which I think is a likely outcome) you’re still talking about thousands of percent returns.
I’m still working to wrap my head around DeFi and yield farming and funds that operate based on consensus like YEarn.
But I think that’s enough for the moment.
Now I’m just a guy on the internet so do your own due diligence, but I feel like these strategies in order will add millions to your net worth over the years if you have the discipline to continue to do them.
And it’s a good teaser for my upcoming book.
I love you, thank you