if you're a teenager in 2023 becoming a millionaire is simple yeah right Boomer it might have been easy in your day I never said it was easy but it is simple you just need to think a little bit differently from everyone else I mean most people use their phones as a distraction endlessly scrolling Tick Tock killing their brain cells and becoming a slave to the system this means that not only does using your phone correctly give you an advantage it's actually putting others at a disadvantage okay then but how do I use it correctly well
in order to cash in I've put together eight different tips so that you can spot opportunities while you're young and use the tools that you have at your disposal tip one meditation only joking I'm not going to make some boring video about meditation and journaling let's be real that's not going to make you a millionaire but what will is tip one realizing there's so much [ __ ] money out there you have to really understand this because if you don't the harsh reality is you're going nowhere you'll be one of those middle-aged people that never
made it you know the ones that blame everything on everyone for their Misfortune oh it's the government oh it's the blooming recession you've got to face up to what's going on instead of wasting your early years wrapped up in excuses but that's not you and it certainly wasn't me even as a teenager I knew that money was everywhere I would always see people with cash on the hip nice cars and luxury homes instead of being angry about what other people had I understood that there was enough wealth out there for me and instead of hating
on the rich and wealthy I decided to learn from them hanging out with my mentor a guy called Dave monk got me involved in a lot of high level conversations and seeing how the guys with money acted were so valuable believing there is so much money out there will really help you to focus on your goals and take responsibility for your own success just think someone owns all of these buildings and thinking like this can also allow you to celebrate the success of others and learn from their achievements rather than feeling threatened by the them
you really don't have to reinvent the wheel to get rich all you need to do is position yourself somewhere money is Flowing just think how crypto was a huge craze in 2021 and how many people made fortunes not by investing in it but by launching their own projects they didn't create the technology of crypto however they did notice the money pumping into the space and benefited from it sadly most people don't realize that there's lots of money out there waiting to be claimed and therefore will never spot these kinds of opportunities many even feel like
they have to be really lucky or come up with a completely new business idea in reality it's so much more simple than that successful people often just identify a business that has worked really well in the past and then add their own unique twist to it think Uber I mean taxis have been around for years it took Uber just to make it easier and cheaper for everyone to use them everything stems back to the core belief that money is everywhere and once you let go of the idea that money is scared Everything Changes tip two
don't focus on saving this is the opposite to what many of these online gurus will tell you but honestly most of them have made their money the slow way believe it or not I'm actually the opposite even though I'm old and gray I was a millionaire in my 20s and I've lived a fantastic life and I haven't deprived myself of much I mean in my life I've traveled to almost every country on the planet become a pilot was a champion race car driver competed for my country in World Championships and built multi-million dollar businesses have
I been silly with my money no but I have used it strategically and had lots of fun along the way when online gurus talk about investing fifty dollars per week from the age of 16 into the S P 500 at an average return of seven percent per year leading to you having over one million dollars by the age of 65. I think they believe this actually excites people news flash it doesn't but what should excite you is the free start worth between three and a thousand dollars at public dot com are currently giving you once
you sign up and fund your account I'll leave that link down below if you want to pick that up most people want to enjoy their money while they're young just like I did don't get me wrong of course it's very important to start investing small amounts when you're young and not leaving it until the last minute but ideally this should be money you don't even notice leaving your bank account and not your lifelong plan to become a millionaire invest in all of your baby money into the stock market or something you can't control it's the
worst move that you can make as it locks up all of your money for testing outside hustles and business ideas those are the real ways to make big money now having an emergency fund of six months living expenses does take the edge off and it allows you to take calculated risks without worrying too much so I'm not fully against saving I'm just against hoarding cash as I've never known anyone to make a lot of money in their younger years when they take this approach so the truth for this lies somewhere in the middle use both
the Fast and the slow Lanes don't be a prolific saver that denies himself as Starbucks Coffee that's what makes you happy if you put savings over small things that make your life more enjoyable then you are giving your money too much power over you but equally don't go splashing your cash on pointless things and leave yourself with nothing to invest in your future pick what matters most to you and use your money strategically tip 3 quit drinking look I get it when you're young drinking is almost a rite of passage but if you follow what
most people do then you get what most people have nothing as a senior guy I can tell you from experience as you get older you don't have as much energy honestly I'd give up all my money to have a young body again it's your greatest asset and if that doesn't illustrate how valuable it is then nothing will I say this because most people waste years of their life drinking this makes zero sense to me as alcohol is a depressant why numb your brain and your body when it is pink performance personally I've never been much
of a drinker I realized early on that having the balls to say no gave people a lot more respect for me and I found enjoyment in other much more productive Hobbies like golf I know a lot of people will say they just want to have fun and I get that but first fix the money issue get as much of it as you can and then you can drink as much as you want but you'll probably find you still want to keep growing your wealth once you realize how much fun it is having money and the
freedom it gives you you'll unlock a whole new level to life drinking is just an expensive way to distract yourself from the bigger picture whilst losing time and on top of that how can we forget the best part feeling terrible the next day what better way to hold you back from your dreams once I'd achieved my goals I loosened the reins a little and have the odd cold beer now and then but rarely do I have more than one or two yeah no more than two I fall over tip four buy a luxury watch you
might be thinking why do I need a luxury watch in the 21st century when I can just check the time on my phone I used to think the exact same thing I've never been materialistic which led me to overlooking watches which now knowing what I know was a mistake there are three main things a luxury watch can do for you firstly it can spark conversations with other successful and Wealthy individuals this could lead to valuable networking opportunities and potential business Partnerships another great way to chat with like-minded people is joining the free strike it big
Discord group I'll leave a link in the description below secondly many luxury watches are considered valuable assets that can appreciate over time if you invest in a high quality watch it could potentially provide a solid return on investment as with any investment it's important to do your research and choose a luxury watch that has a good chance of appreciating in value over time as a general rule still Rolex watches reliably hold or appreciate in value this includes in particular the GMT Master II with its famous two-colored bezel the cosmograph Daytona and the ever popular Submariner
thirdly they can be a great way to transport your wealth across borders now technically you do have to declare that you're bringing these into a different country however I bet the majority of people don't do this if you entered another country with a wad of cash then they'd probably ask you some questions but I'm willing to bet that if you entered the same country with a million dollars worth of watches they wouldn't bat an eyelid just be careful where you wear these watches as they're also very easy to steal you have to learn to move
in a different way don't get cocky and think you're untouchable if someone is bound to pull up on a motorbike and take your watch from you trust me luxury watches are not something to be overlooked and even if the price goes down you never really lose all of your money and the status is worth it unlike Lambos it's also getting progressively harder to buy a nice watch at retail price price if I'd started investing in watches earlier I'd be sitting on a whole lot of equity so building a good relationship with an authorized dealer while
you're young it's what future millionaires should be doing tip 5 destroy your ego there are so many arrogant people out there that think they know everything they aren't interested in learning even when someone more successful than them is spelling out the correct way of doing things I mean I was watching Gordon Ramsay's Kitchen Nightmares the other day and these restaurant owners were in dire need of help their business was failing and they called in Gordon to turn their luck around he came into their restaurant and tried to do exactly that but their egos were so
big that they couldn't take anything on board it's actually shocking how stubborn some people are of course be proud of what you do however you need to be able to separate Pride from your ego take some time to self-reflect really go into the depth of your weaknesses former strategic plan of how to improve them there are thousands of YouTube videos where experts teach you what you need to know for free for example if communication is a weak spot then there are videos on public speaking and storytelling that you can take full advantage of now learning
high value skills does more than just paying the bills they compiled into every aspect of your business and social life I used to find what they taught in school to be boring and nonsensical with my goals and vision it just didn't make sense for me to waste my time learning about algebra and other things so I went out and bought my own books about business I used all my free time to teach myself all the basics of how to start and run a company I then combined everything I learned with my passion for RC models
and started my own company which went on to make millions and make me the man I am today tip six build a credit score if you haven't got a trust fund then you're gonna need to leverage good debt in order to become a millionaire at a young age and without a good credit score that's going to be near impossible I was told when I was younger this famous saying never a borrower or a lender be which is completely wrong I have a feeling this was made up by powerful people years ago to stop you leveraging
your way to success borrowing money can be one of the best ways to elevate yourself past your born-class status but due to my fear of debt I never really took advantage of it this is a personal regret of mine and I wish I'd borrowed more when I was younger it really could have helped me leverage my wealth much faster now this isn't for everyone and takes a strong clear mind to manage but can work extremely well if done correctly a credit score is basically a trust and reliability rating used by Banks to judge the risk
of lending you money think of it like this if every time your mate lends you five bucks and you give it back when or before you said you would then there's a much much bigger charts that your mate is going to lend you a hundred dollars if you ever need it because he can trust you a good credit score is priceless it will take years to build but you can lose it in just one wrong move by taking on debt responsibly and paying it off on time you can build a positive credit history which can
open up more opportunities for credit in the future now you might be thinking where do I even begin well start small of course at a young age you can't just wander into a bank and start borrowing heaps of cash but you may already be paying bills that will count towards your credit rating such as a phone contract in your name as soon as you turn 18 make sure to grab yourself a credit card if that's going to be a while then you could become an authorized user on your parents credit card either route you take
remember these three Simple Rules first make on Time payments paying your bills on time is the single most critical factor in building a good credit score in short don't be late second keep credit utilization low credit utilization is simply the amount of credit you're using compared to the amount you have available as a tip when starting out stay below 30 essentially don't spend it all third don't apply for too much credit this can be interpreted as desperation and lower your score significantly remember less is more if you follow these rules then you'll certainly be in
a good position to start growing your wealth at a rapid rate tip 7 follow the money in life doing what you love won't always make you rich while it's important to pursue what you love and enjoy it's also essential to balance your passions with practicality if you have a passion but don't think it will pay you flip the script a good example of someone doing exactly this is Rick Shields who he recently interviewed on our podcast strike it big his ambition was to become a professional golfer on the PGA tour however although he was very
good in his Youth and to be be honest he still is to this day he knew he wouldn't make the cut therefore he flipped the script and combined his natural talent for golf with his passion for drama and Technology this led to him starting a YouTube channel coaching others and now he's the most subscribed golfer in the entire world only Millions per year building on this my son Curtis was passionate about making videos he was making YouTube videos but realized it wasn't going to be successful so he pivoted to making commercial films for nightclubs weddings
advertisements and anything in between it take any job then he followed the money and niched down into the business coaching space as he enjoyed working with these clients as those were the videos that made the most money he's now my business partner in this very Channel you're watching and these videos wouldn't be possible without him so he's involved in something he loves making good money but it's not in the way he originally intended both examples here followed the money and flipped trip to work in their favor and you can do this too it's crucial to
learn skills that are in demand identify Industries and professions that are thriving and have a future and invest time and effort in learning the skills that can help you succeed in those areas tip 8 become a quitter you need to get good at quitting or you'll never succeed imagine you're at a cinema and you've paid for your ticket and you sit down to watch the movie about 10 minutes in you realize that it's absolute rubbish it's so boring that a two-hour chat with your granddad about his childhood dog would be more stimulating but instead of
leaving and doing something else you decide to stay and watch the whole thing because you feel like you've already paid and you don't want to waste your money this is an example of sunk cost fallacy the money you paid for your ticket it's already spent and it can't be refunded so whether you stay for the whole movie or leave early the money's gone it would be better to cut your losses and leave early if you're not enjoying the movie right other than sticking around and wasting more time and energy on something you don't like just
because you feel like you've already invested in it the same thing can happen in other areas of your life maybe you've invested a lot of time money or effort into a project that isn't working out but you keep going just because you feel like you've already put so much in but just like the movie ticket the resources you've already invested are a sunk cost you can't get them back it's better to cut your losses and move on to something else rather than sticking around and wasting more resources on something that just isn't working let's be
honest making your first million is never going to be easy but it can be simple if you're young use time to your advantage I made Millions while I was young and also built generational wealth by investing for the long term don't listen to anyone that tells you that you have to pick one lane you can do both at the same time if you want to know some great ways to make money with your phone as a teenager then I'll leave leave that video right up there but don't click on it just yet remember to subscribe
if you want to grow your wealth okay I'll see you over there
