when I was 19
years old but much more importantly
however my first day
at work when I had this mindset that all
I need to do is work really hard to
eventually make it in life but now a
decade later however I know that it
takes a little bit more than that so
today I thought it'd be quite
interesting to walk you through exactly
what I plan to do to become a
millionaire by 31. everything I'll be
sharing has come through my own personal
experience on what has worked and what
hasn't tips I've gained from reading
books of the biggest money and business
experts in the world and a psychological
based evidence around the human brain
later in this article I'll also talk about
how one of these made me forty thousand
dollars better off literally within one
hour so the first thing I'm going to do
is focus on my all weather portfolio
this is based on the fact that most
people earn wages but you'll never get
wealthy working for wages because wages
grow linearly that is the amount you
earn is directly related to the amount
out of time you work on top of that just
relying on wages is risky because the
moment you decide to quit or get fired
that income stream stops coming in so
what I realized over the past few years
is to also focus on building up passive
income streams which have the potential
to grow non-linearly because they don't
require you trading your time for money
as soon as you make one passive income
stream on autopilot and let it run it
gives you time to focus on others and
grow your income more and more because
the ones that are an autopilot are
continuing to bring in money for you
without you needing to even devote any
more time to it the second thing I'll be
doing is a thinking in terms of first
principles I first came across this
concept in an interview with Elon Musk
and the idea of it is that just because
things have always been done a certain
way that doesn't mean it's the best way
and that it's the right way and we
shouldn't be afraid to question the
status quo when someone tells me
something isn't possible I now have this
immediate knee-jerk reaction to to prove
to them why it is possible I used to
host social events and as part of the
marketing for one of the events I
organized I told my business partner at
the time that we should make really cool
physical invites and one that people
want to upload and put on social media
and we could get free marketing from
that and I remember him saying at the
time oh we can't do that because of this
and because of that and we've always
done it like this so it doesn't make
sense to change it now it'll just take
too long and I feel like this subtle
messaging is something that I faced so
many times in different areas of my life
and it's just a way of saying stick to
the blueprint stick to the convention
and it's these moments where you've just
got to have some sort of resistance turn
to the side and say no I'm just going to
explore it this way one person thought
they could build a rocket and send it to
Mars that person is Elon Musk someone
else thought they could bend a piece of
aluminum and get it to fly through the
air that was the Wright brothers in any
concept you can't get extraordinary
results from ordinary actions the world
doesn't offer outside returns for people
and brands that just serve up more of
the same the third thing I'm going to be
doing to get to that million dollar Mark
is utilizing other people's strengths
and this is the one that saved me that
forty thousand dollars within one hour
there is a saying that is if you are the
smartest person in the room you're in
the wrong room and I used to always
think I could figure things out myself
and I can save money just by doing
things on my own now I realize that
different people have completely
different unique strengths and skills
and that is essentially how they make a
living so I purchased a property under a
company structure and I needed to move
it into another company and I realized
to do this I would need to pay over
forty thousand dollars in different
forms of taxes if you live in the UK you
know what that is try to Google
frantically why I needed to pay this if
there were examples where other people
didn't pay it and if there was a way
around this I then spoke to my friend
who told me why don't you just speak to
a Tax Advisor that's what they're there
for so I forked out what killed me at
the time 200 to speak to this tax
specialist and they gave me a completely
legal tax efficient strategy which saved
me from paying that forty thousand
dollars had I not done that I would have
just ended up paying that money and not
knowing any better so in a world where
hard work is no longer a competitive
Advantage because let's face it everyone
works hard the competitive Advantage is
actually in thinking expansively and
connecting with the right people the
fourth thing I'm going to keep in mind
until I get to my goal is that concept
of the slight Edge this is based on the
book The Slight Edge written by
motivational speaker Jeff oslin and
according to Jeff success and failure
are both a result of the slight Edge and
that's the idea that simple little
things that we choose to do or choose
not to do on a daily basis have a
compounding effect on who we ultimately
become so I like to use the penny
compounding Parable hair and that is
that there are two people who are given
the choice to either get one million
dollars at the beginning of next month
that's it a flat straight check of one
million dollars here you go or choose to
receive one penny at the beginning or
next month but that Penny doubles every
single day for the next 30 days the
person who chooses to go with that flat
one million dollar Mark got that one
million dollars great but the person who
chose to go with the penny that doubled
every single day ended up with 5.3
million dollars if you take this example
and stretch it into a longer time frame
that is essentially how compounding in
our life Works those small little
decisions that you make and small little
things you choose to do or don't do
every day matter because they have
long-term ramifications and they will
eventually show up I now try to remind
myself that whatever's uncomfortable now
will become comfortable later just keep
going and Trust the process of
compounding number five lean into your
money making superpower so I saw another
YouTuber earlier talk about this and I
really loved the way he described it he
talks about how everyone has this money
making superpower to lean into but most
people don't tap into it they don't
understand it or they haven't yet
figured it out but everyone does have it
and the way I kind of see this and have
interpreted it is that you need to we
all need to lean into our most valuable
strengths and these strengths can come
from our upbringing our parents and what
we've surrounded with and the knowledge
we've absorbed over the years it can
come through our skill set the skills
that we've learned just through doing
through our day job and what we've
taught ourselves or it can come through
our passions and interests and our
natural talent but through one of these
Avenues you can unlock your money making
superpower that you can lean into and
the way I see it is I'm still exploring
a number of different things and trying
out new things I'm starting a YouTube
channel for example that's something new
that I'm doing but by doing this I'm
going to lean into my strengths and
eventually I'll hone into my money
making superpower number six is a live
below your means it's really easy to
spend everything you earn and live
paycheck to paycheck as you earn more
you want a bigger house you want a nicer
car your lifestyle choices inflate as
your paycheck inflates and when I first
started working I spent everything I
earned and every single bonus went
towards a material item which I couldn't
even care about two months later and
then I realized that if I keep doing
this I'm going to get to 35 having
worked for 15 plus years and had nothing
to really show for it so I massively
changed my spending habits and now I'll
spend way below my means I even have a
specific article on that I do agree that
your teenage years and your early 20s
are when you want to be living your life
to the max I wouldn't really be worrying
about saving the five ten dollars at
this age but then later there comes to a
time where you want to be making some
sacrifices in the short term and holding
off on buying some things now with the
aim to then reinstate those things back
into your life later when the trade-off
isn't so big so for example I wanted to
buy a new car for a while I ran the
numbers and I actually thought okay I
barely Drive I work full time and I
travel to and from work on the train and
when I do go out in the evenings or on
the weekend I just grab an Uber and so
the decision to sell my last car and
wait till I buy my new one has saved me
a ridiculous amount of money I save
money on insurance on maintenance on not
having a finance or a lease and not to
mention the money that I would have lost
in depreciation so I'm using that money
now to invest in assets instead to build
a lifestyle that I want and then
eventually these assets and the cash
flow coming in from those assets will
pay for all the nice luxury things later
on those are the things I'm doing if you
like this article I've made another one on
my journey so far and what I will be
doing going forward I'll link that here
thank you so much for watching don't
forget to subscribe if you haven't
already see you in my next article
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