This is advice to those who are a worker who wakes up every morning and gets to work from 9 am until 5 pm in a company or corporation and wanna try something new or wanna quit his/her job and start a new life journey.
These are what people did to become financially independent and quit their corporate life forever :
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| Illustration picture: A man with a corporate life |
1. A job didn't make you rich
Hard work at a job means someone else keeps the upside
layoffs take you back to zero at any time
If you don't own a piece of a business, you don't have a path toward financial freedom, - Naval
Solution: start an after-hours side business
2. Index funds won't make you rich
Inflation + Currency Devaluation ... keep you poor
You must make ~12% of your money to maintain your purchasing power
Index funds make 7% - 8% at best
Working a job & investing isn't going to make you financially independent.
Solution: take risks.
3. It won't be f*cking easy
Easy goals make you feel nothing.
Financial freedom isn't for those who
- love comfort
- want to live in easy mode
Stay in a job if that's what you want and experience the regrets at the end of your life.
when you choose hard things today it will pay off in the future.
4. You're never ready to quit your job forever
"When I have time"
"When the kids are older"
"When I leave my current job"
Harsh truth: you may die while waiting on the sidelines.
It's never a good time to do anything.
Start.
5. Building wealth slowly is the worst way to do it
You'll become a millionaire on paper at 65
But...
- Youth is gone
- Highest levels of energy are gone
- Too late to enjoy the money
Why wait?
You can make money fast.
6. While most people retire to stop working forever, I retired to stop doing work I didn't give an F about.
7. Money buys time which is better than buying luxury
"If you don't take the money, they can't tell you what to do", Bill Cunningham
Time to do whatever you want is the real goal. It's easy to forget.
Use money to buy time, not status.
8. The Next Game of the money game...
use money to make more money by buying assets that have an income stream.
This will change how you spend money forever.
9. Become this type of weird person
Average person:
- Asks for discounts
- Negotiates
- Skips simple pleasures
A person who becomes financially independent:
- Focused on value
- Focused on ROI
They understand the solution to money problems is to make more money.
10. Make stuff people want
People fail to make money from a side business because they :
1. Sell stuff people don't want
2. Sell stuff that's nice to have
Instead...
- Write
- Experiment
- Iterate
- Survey people
- Look at social media data.
11. Those who give more get paid more.
It's counterintuitive.
Stop trying to paywall everyone like a b*tch.
Free stuff leads to the ideas that create wealth.
12. Chasing Mone forever is a form of mental illness
- Clear thinking is what leads to real freedom
- Thinking about money and how to make it is how to make it is how we muddy the mind.
Money is a paradox.
13. Final Thought
The goal in life should be to own as much of what you do.
That means operating as a business instead of being an employee - even if the business is a one-person business.
Own or be owned.
Own or get rented out for the rest of your life.
Thanks for reading.
