If you’re a young professional who wants to build wealth, read this:
Wealth creation isn’t about chasing a higher salary to buy the car or keep up with the Jones's.
It’s a long-term game of building a solid foundation, eventually going from employee to owner of a high-paying asset.
It’s a long-term game of building a solid foundation, eventually going from employee to owner of a high-paying asset.
Everyone wants it, but they're confused how to get it.
Here are 7 steps you can take to start building real wealth:
Here are 7 steps you can take to start building real wealth:
1. Reinvest
The #1 reason people don’t build wealth is that they keep upgrading.
Let’s say you get a raise from your company:
Instead of investing that money
• On a new skill
• Into the stock market
• Into another business
You go from a Hyundai to an Audi.
The #1 reason people don’t build wealth is that they keep upgrading.
Let’s say you get a raise from your company:
Instead of investing that money
• On a new skill
• Into the stock market
• Into another business
You go from a Hyundai to an Audi.
It’s not how much you earn, it’s how much you keep.
There's wealthier people than you and I living paycheck to paycheck.
Their extra income and time go to things that make them appear wealthy.
Be smarter than that.
There's wealthier people than you and I living paycheck to paycheck.
Their extra income and time go to things that make them appear wealthy.
Be smarter than that.
2. Learn
I’ve been an employee for many years, trading time for money.
Then I took those skills and began freelancing with clients, receiving a project/result-based income.
Now I’m scaling an agency, which is freelancing at scale.
Here’s what I learned:
I’ve been an employee for many years, trading time for money.
Then I took those skills and began freelancing with clients, receiving a project/result-based income.
Now I’m scaling an agency, which is freelancing at scale.
Here’s what I learned:
There are important lessons to be learned at each stage of your career.
You may have a skill and feel ready to jump ahead to freelancing.
Problem is:
You may have a skill and feel ready to jump ahead to freelancing.
Problem is:
You can’t skip the lesson of consistency and working hard daily that a salary job would give you.
People don’t get off the couch and simply found a SaaS company.
They soaked up the resources around them and built on them.
People don’t get off the couch and simply found a SaaS company.
They soaked up the resources around them and built on them.
3. Apply
Let’s say you manage your company's social media platforms.
You feel confident in your ability.
You could market that skill as a freelancer on the side of your primary job.
Let’s say you manage your company's social media platforms.
You feel confident in your ability.
You could market that skill as a freelancer on the side of your primary job.
You’ve put the time in and learned the lessons through an hourly role, now you could get paid, project based on the side.
Almost any skills or experience you have can be leveraged into an online service.
Get creative.
Almost any skills or experience you have can be leveraged into an online service.
Get creative.
4. Leverage skills > increase in wages
Think long-term.
Pushing for that small raise is an easy solution to upgrade rather than build wealth.
Think long-term.
Pushing for that small raise is an easy solution to upgrade rather than build wealth.
Emphasize learning new skills each day that you can apply beyond your current role.
Those skills will compound into a strong portfolio of expertise you can service in the future.
Those skills will compound into a strong portfolio of expertise you can service in the future.
The way I learned marketing was by becoming an employee, learning on the fly.
While growing my company, I was able to offer services and work with brands that had a similar business model.
This both increased my income and expanded my knowledge.
While growing my company, I was able to offer services and work with brands that had a similar business model.
This both increased my income and expanded my knowledge.
5. Let your current position fund the next
Everyone hears “trading time for money won’t make you rich.”
It’s true, but horrible advice for most.
We all have to start somewhere, and it’s usually the only option with your current skills and capital.
Everyone hears “trading time for money won’t make you rich.”
It’s true, but horrible advice for most.
We all have to start somewhere, and it’s usually the only option with your current skills and capital.
Don’t neglect a position that allows you the means to live.
It’s the first step to a solid foundation of much better opportunities.
It’s also a process of building skills.
It’s the first step to a solid foundation of much better opportunities.
It’s also a process of building skills.
If your goal is to become a writer, interning for a publishing company allows you to learn about the industry and maintain your lifestyle at the same time.
Trading time for money is also an excellent exchange when it allows you to build relationships.
Expanding your network will increase future opportunities.
It takes time and money to invest into freelancing or brand building while also keeping yourself afloat.
Expanding your network will increase future opportunities.
It takes time and money to invest into freelancing or brand building while also keeping yourself afloat.
• Work
• Live frugally
• Save as much as possible
• Soak up everything you can
• Live frugally
• Save as much as possible
• Soak up everything you can
6. Build an audience
Social media is the most powerful tool we have in 2022.
Leaping from an employee, to a freelancer, to a business owner can be terrifying.
Do you know what makes it easier?
Having thousands of people support your growth because they're learning from you.
Social media is the most powerful tool we have in 2022.
Leaping from an employee, to a freelancer, to a business owner can be terrifying.
Do you know what makes it easier?
Having thousands of people support your growth because they're learning from you.
Set your goal, then document your journey.
Talk about your current role.
Display your skills as you’re putting them to use.
The combination of growing your network and building relations with people who can help you is purely invaluable.
Build in public.
Talk about your current role.
Display your skills as you’re putting them to use.
The combination of growing your network and building relations with people who can help you is purely invaluable.
Build in public.
7. Be patient
Relax, you have time.
If you’re in a job you don’t like, stop viewing it as transactional.
Use it to leverage the people you meet and the skills you learn.
Use your free time building for the future.
Relax, you have time.
If you’re in a job you don’t like, stop viewing it as transactional.
Use it to leverage the people you meet and the skills you learn.
Use your free time building for the future.
The key to building wealth is to climb the income ladder incrementally.
I promise you, every successful CEO and entrepreneur worked a 9-5 before.
But they leveraged it by networking, saving, and learning.
This is the path to true wealth creation.
I promise you, every successful CEO and entrepreneur worked a 9-5 before.
But they leveraged it by networking, saving, and learning.
This is the path to true wealth creation.
7 steps to building wealth:
1. Reinvest
2. Learn
3. Apply
4. Leverage skills
5. Save your money
6. Build an audience
7. Be patient
1. Reinvest
2. Learn
3. Apply
4. Leverage skills
5. Save your money
6. Build an audience
7. Be patient
You got this, thanks for reading!
An RT on the first post might help a stressed out 20-something.
For more content like this, follow me @AmanGeee
An RT on the first post might help a stressed out 20-something.
For more content like this, follow me @AmanGeee
Loading suggestions...