Broke to a Million

A Seven-Year Journey in Seven Steps

My story will make you wealthy.

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I grew up in a typical middle-class family.

Money was not an important topic.

I had to learn everything on my own. 

You may be in a similar situation.

If you do not have the tools to begin, you must educate yourself. I will tell you my story.

Step 1: Educate Yourself

Here is a list of books that I personally recommend:

Think and Grow Rich
Rich Dad Poor Dad
Your Money or Your Life
Total Money Makeover
The Millionaire Next Door

In debt? Start with TTM.
If not read any of the others.

You do not need to read all five.
Just read a couple.

As your journey picks up read the others.
They all help in different ways.

Podcasts (coming soon), blogs, and Twitter feeds are also great. Just begin to surround yourself with knowledge.

Absorb the wealth of information.

Step Two: Change the Environment

You now have the knowledge.

Now let's make some changes to the outside world.

Shed any friend who holds you back.
Some will sense that you are changing.
They will try to bring you down.
You MUST ditch them.

They are not true friends.

True friends want to see you grow.

Tip: try to surround yourself with people who are on the same journey. You will feed off each other's momentum.

You are the average of your five friends.

Always remember this.

Step Three: Relentless Savings

Savings are what you can control.
This is where you start.

Every time you cut costs it is an automatic win for your pocketbook and an automatic win for your cash flow.

Most people want to case cash first.

Wrong.

Understand value.

You need to cut out the fat.

Question every dollar spent.
Avoid “unlimited”
Negotiate everything.

The first time I got serious I slashed my spending by $25000. That's not chump change.

How much did you spend last year?
Do you even know?
You. Need. To. Know.

Step Four: ACTION

This is where you implement your side hustle.

The goal: INCREASE cash flow.

What will it be? You have options.
Second job.
Side Hustle.

I naturally went toward flipping. It is simple. You buy an item. Then you sell it back for more than you paid.

Profit.

It is a beautiful feeling when your side hustle blows up.
But what you do is up to you.

You could even work more hours if you have overtime.

Try different things. Be creative.

Just remember cash flow works both ways.
And give yourself a fat raise.

Step Five: Invest

Now you have more coming in than ever.
Your expenses are low/ income is high.
Let’s learn to invest.

If you live in the US, take advantage of tax-sheltered accounts. Lower taxes are guaranteed wins.

Understanding tax codes are the quickest way to wealth.

If you want to take a different route you can open an account at an investment brokerage.

I recommend low-cost index funds that track the S&P averages. YES, I know I personally invest in growth stocks, but I am giving you the guaranteed blueprint.

You cannot lose.

Step Six: Stoic Mindset

Now you have fewer expenses.
More income. Fat investments.
You need to keep things that why.
Stay in control.

Arm yourself with the Stoic mindset.

Read “The Guide to the Good Life” by William Irvine.
Or Tactical Stoicism by @successtheory

The Stoic mindset is literally the antidote.

The problem is lifestyle inflation.

Do not let consumer goods and greed run your mind.

You run your mind.

Learn control through stoicism.

Step Seven: Life Begins

Have you implemented the six previous steps?

Good

You will be a Millionaire.

You can thank me now.
Give yourself 7 to 10 years.

You cannot lose.

Once you reach your goal, life will change drastically.
Your mind will change. Trust me.

When you have a million in the bank you are free to do as you please. You can call it FU money. I don’t care.

If someone at your job asks you to act unethically...

FU

You do not have to put up with anything.
You are the millionaire. Not them.

You have the power.