How to Generate Wealth in 2022

Опубликовано: 07 Февраль 2022
на канале: Nath Aston

1,526

There's tonnes of content online about earning an income online, and I think it's quite easy to get caught up in all the different information sources and for people to really understand what works and what doesn't. As well, some of the terms used are often confusing, so in this video I wanted to break down in the most simply way possible how anyone can generate wealth and become rich.

1. Have an Income
Ridiculously obvious, but of course the first step to generating wealth is having an income. I suggest you aim for $10k as a base level of income each month.

A few skills that can help:
Programming
Design
Copywriting
FB Ads Management
Affiliate Marketing
Dropshipping

For anyone who's actually looking to build a skill and earn income online, a useful resource is Hustlers University: https://www.cobratate.com/product/hus... - it will give you access to a community of people and 'professors' in each particular niche. It's a good starting point and worth a $50/month investment to get started.

From there, I would focus on constantly building your income to $25k, 50k, $100k/month but the first step is getting to $10k, worry about scaling/automating later.

Develop yourself and your skills, the more value you can deliver the more money you will earn.

2. Spend Less than you earn
Again, sounds super obvious. But if you had been implementing this advice then you wouldn't be a slave to the financial system and most likely wouldn't be watching this video.

There are 2 ways to do this:
Spend Less Money
Make More Money

I suggest you to budget your income, depending on your level of wealth, don't buy anything that is going to depreciate in value except for necessities or investments in yourself (but generally this will offer you indirect ROI anyway).

Budget for your money, invest the rest.

3. Investing
There's a million and 1 videos on investing. Generally, I think it's so overcomplicated for no apparent reason and they're trying to sell you on a course to convince you 'You can only invest if you know what they know'.

Complete rubbish, even Warren Buffett plans to invest 90% of his wealth to Index Funds on his death which yield 8% average returns.

You can invest your capital to Index Funds, which takes very little time and you don't even need to check it at all. Or look at some modern CeFi tools available like Nexo and Blockfi.

Nexo offers 10% interest on USD Crypto Stablecoins, this is a way to have your capital working for you whilst your waiting for the crypto market to present opportunities.

Alternatively, even just holding your funds in Nexo, putting more wealth into your account would also leave you with great returns due to compound interest.

Other Rules
Never go into debt for assets that increase in price. Understand the difference between good debt and bad debt. Mortgage = good debt, credit card loan to buy Gucci Shoes = stupid debt.
Accumulating items gives temporary happiness and a dopamine hit. Your money working for you and paying you daily interest gives me much more satisfaction.
Getting rich is a process, get rich quick schemes are a complete waste of money and time.
A fool and his money are quickly parted, anyone who does get rich overnight generally has no idea about capital management

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