Why I Stopped Listening To Finance Gurus

basically all my money that's in stocks and shares is invested in IND what's going on when it comes to Index Fund you want to get rich from investing F invest despite the popular Financial advice of saving as much as you can and investing the rest into index funds I don't think any of these people got rich by investing into index funds do you think Mark Zuckerberg or Elon Musk or let's say Alex heroi got rich by investing into index funds or the founder of notion Ivan out get rich slow is an absolute scam based on this book I know what you're thinking another getrich quick scheme but don't judge a book by its cover because this book will challenge your belief system and reveal the truth to you go to college get good grades graduate get a good job save 10% of your paycheck invest in the stock market preferably in a lowcost index funds Max your 401k slash your credit cards keep a Frugal budget then someday when you're 65 years old you will be rich this is a story most of us been told to you about Financial Freedom and getting rich realistically my guy MJ DeMarco calls this plan live poor die rich aka the slow lane getting rich slow ultimately means sacrificing your today your dreams and your life plan that pays a nebulous Freedom after most of your life has evaporated assuming you continue living like a minimalist monk an important question that this book made me think over and over again is is reaching Financial Freedom at 65 worth it if it divorce 40 Years of my youthful most precious time of my life but if there is a way we can get rich during our 20s or 30s or maybe in a couple of years from today according to the book there are three road maps and depending on which one you choose to walk your path to wealth is also detrim mind which one are you so the first one is the slow Lane this is the most followed path and also a recipe for poverty to determine whether you belong to this group let me ask you a couple of questions if your answer is yes please give yourself a one point one you haven't learned much since graduating from high school or college two you live paycheck to paycheck three you think people with money have it because they had wealthy parents luck or easier life circumstances than you four you put faith into politicians and government to change the system instead of focusing on how you can change yourself five you're easily impressed and seek to impress six you think money doesn't buy happiness now stop the video and tell me how many pints you got I'm sorry to break it to you but if you even had more than one point it's pretty a bad sign because it means that you're walking the sidewalk the path to Poverty the important thing to understand is sidewalk is money blind meaning it's it doesn't matter how much you actually make I always thought if I would make a little bit more than the last month I will have less stressful time with money but I've learned in a hard way you can't medicate poor money management with more money we see many rappers and NBA players who had millions of dollars file bankruptcy after a few years they retire no matter how much money we have if we spend more than we earn we will be always walking the sidewalk so the first step to escaping the sidewalk walk is recognizing that we might be on it only a mindset and a behavioral change is a solution to money problems one of my favorite quotes says insanity is doing the same things over and over again and expecting a different result one of the common belief in the sidewalk path is wealth means material possessions I used to think that way too you know in media in pop culture we're encouraged to look rich rather than be rich the author says if you're financing your 90k mercedesbenz over 6 years because that's all you can't afford you can't afford it wealth isn't embodied in the car but the freedom to know that you can buy it freedom to walk into the dealership know your price pay cash and drive away a big misconception in the sidewalk is money doesn't buy happiness does poverty buy happiness people say money doesn't buy happiness because they don't understand what money actually means when most people earn more money it doesn't expand their freedom but it contracts in the beginning of my YouTube channel I thought if I would post more videos get more sponsorships I would make more money and therefore I would be more free but that's completely wrong I started working 60 hours a week to post three videos every single week even though I got pretty good results like gring subscribers money and Views I was completely burnt out I didn't have to hang out with anyone I didn't have time to enjoy my hobbies and actually spend the money money that I made after basic needs met like security shelter health and food our happiness quadent is most significantly impacted by the quality of our relationships with our partners family friends spirituality and also ourselves many millionaires and well-paid career folks are miserable and it has nothing to do with the money it has to do with their freedom on the sidewalk money doesn't buy happiness because it's misused money should give you more freedom and I'm not only talking about Financial Freedom but also time Freedom you should have the ability to control your own time and schedule anything detrimental to Freedom is not real wealth so how can we make money that actually results in the freedom of choice it's by walking the fast Lan path but before we get into that path we need to understand the next PATH so that you truly realize the differences once people get out of from the sidewalk the next PATH we tend to walk is the slow lane this is the path path that our parents teachers and many Financial gurus recommend it sounds like this go to college or uni graduate with good GRS get a good job save some of your paycheck pay yourself first climb the corporate letter contribute to your 401k save save safe invest in the stock market Buy and Hold buy index funds say no to expensive coffee live below your means have patience and one day in your 60s or maybe' 70s you will be rich if we're celebrating Friday and hate Mondays it's a strong side that we're walking the slow lane which leads to mediocrity slow lane is often times labeled as responsible and normal and even realistic way to get rich if that's a life path you want to walk and it genuinely excites you then that's completely fine in my opinion but the problem with the slow lane is that what most gurus recommend doesn't even work people say pay yourself first live Frugal and save but with increasing inflation High tax rates and many things you can't control as an employee you never pay yourself first indeed most of the time we pay ourselves last two things are absolutely required to get wealthy one control and two leverage and with slow lane you have control of neither of them if you have a salary that means you're trading your time with money it doesn't matter whether your annual salary is 30k or 200k as long a

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