3 Keys To Building Wealth With $0

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Look I’ll be 100% honest, a lot of people are going to watch this video and they will say “ these things are just not possible, not realistic and really its just stupid”. But some, a few of you guys will say, “ this is a challenge, but it’ll be worth it “.



So I this video, I’m going to give you three simple ideas to building wealth starting with nothing, and obivously, your first step should be to go get some income, and go try to upgrade your skills to make a good amount of money.

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High Savings rate 30-50%

This will Help with Investing Money

Retiring Early

And Simple Enjoying life a lot more



What does Mean, How can you do, and why would you want to do it

First it means that if you make 40k a year, you want to figure out a way to live on 20k a year

And I know you might say, I live in New York, I have kids and I have a wife, this Is why its so important to get your partner on the same page as you

For all the single people, you can just make the choice on your own



But Here are some simple tips

Learn to the Baseline Budget : Shelter, Utilities, groceries and transportation

Example: Rent a Room, or live with a decent commute, cancel all your non essential bils, and get good meal prepping rice and beans and lastly get used to driving a beater car

This is not normal, it goes against Amerincan Culture but its whats going to get you their to financial freedom



Why would you want to do this:

The answer is simple, the less money you need to live on

The more money you can Save and invest

And not just that, it also means the more freedom you have to walk away from a bad job



Not getting into Debt

Stress

Bondage ( job and income )

Promotes bad habits



Let Explain Something on Debt that makes us Love it

We can have a reasonable idea of the risk we take (so it makes us feel Smart )

We can get the things we want today without all the savings ( house, Car, clothes and so on )

Its cheap sometimes, Low interest rates, promotional periods

However here is the Catch ( I Call those Snares, or bait )

When I go fishing, I have bait on my hook, and the promise of a free meal is very nice, until boom we pull that fish up and now his our lunch

Samething with debt, and the crazy thing is we also see how so many people get torn to pieces and yet we keep returning it

The smart people that can assest risk go bankrupt, the people that get the things now end working and having no freedom because if they quit the job they cant service the debt and lastly what starts up cheaps ends up taking decades to pay off



But the People that are Debt Free by choice we notice one thing in Them: Freeddom

So the first thing you gotta do to be debt free, is make up your mind about debt ( and decide that you don’t want to get involve with it, because if the goal is only to pay off debt, you’ll be back but if the goal is never to use debt, you wont be back )

To pay it off do these 3 things: call the banks and ask for a reduction on interest rates, pay them off using the avalanche method or snowball method and lastly close all the credit cards

That’s it



Ps. Its okay to buy a house using debt, but only one that’s no more than 33% of your income Net all expenses included, and on a 15 year mortgage



Simple index funds

I have one Investment the s&p 500

It’s a bucket that contains the 500 largest companies in the US


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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I'm an Accountant but I'm not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.
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