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3 Steps to Becoming a Millionaire: How Invest Like Boss Can Help

I never thought I would become a millionaire in this lifetime. But knowing everything I know now, I can't imagine myself not becoming one. It's crazy to think that even though having $1 Million dollars seems like such a far off stretch, it's really not that out of reach for even just normal people. Learning about how compound interest works and the power of investing early and often has given me the mindset that as long as you get started sooner than later, you too can become a millionaire.

I'm very proud to announce my new podcast, Invest Like a Boss. I started this with a friend of mine, Sam Marks, who recently sold his company for $100,000,000. Yes that's right, a hundred million dollars. Take a listen to the new podcast, it's completely free and it's our way of sharing our knowledge, giving ourselves a reason to continue to learn more, as well as an excuse to sit down with multimillionaire investors and ask where they personally put their money.





Sum of 5 People



Have you ever heard that you are the average of the five people you spend the most time with? Well it's true, and I knew this the day they posted college admission results on the wall in my high school. I realized at that moment that even though I always thought I was my own person, that they were right. You end up being exactly like your friends.

The cool kids who hung out together all got into state schools, which in the U.S. are second tier universities. Other cliques or groups of friends all seemed to get into UC schools which were higher tier Universities, then there was me and my friends which all got into community college, which the only requirement to get in as that you are turn 18.

My school wasn't known to have the best performing academics, but the new people that did get into Ivy league schools such as Stanford seemed to all be friends. Also the kids that got into various second tier and third tier schools like myself didn't necessarily end up at the same schools, just to be with their friends. We ended up getting accepted into different schools but all at the same level, think back, was that you? Did you end up going to the same level of school as your five closest friends in high school? What about today? The real test is how much money you make.

Action: Add up your annual income along with an estimate of what your five closest friends, the people you spend the most time with, then divide that number by six. I'm willing to bet the final number is very close to what you make on your own.






Hang Out with Millionaires



Knowing the above being true, and also having the experience now of spending time with millionaires recently has made me realize how important it is to surround yourself with successful people. Successful people have completely different mindsets when it comes to money, work, and seem to have unlimited confidence and often generosity. The more time I spent with people far richer than me, the more financial knowledge and confidence I gain.

Unfortunately, up until these past few months, the only millionaire I knew was a friend of a friend that I happened to have met in Los Angeles. J.P. became my mentor of sorts even though I would only see or speak to him once a year. And if it wasn't for getting lucky there was a good chance I never would have met him in the first place. So if you're in most people's positions, how the heck would you surround yourself with millionaires if it seems nearly impossible to meet even one?

Here's the thing, ask yourself why they would want to hang out with you. By them spending time with you and accepting you into their social circle, you are dragging down their sum of 5. But here's the good news, money isn't the only measure of success or of value. People want to spend time with other high value people, regardless of their net worth. Do you have an incredible social circle or following? Maybe you're a fitness trainer that knows everything about health and nutrition. Are you an ultra genuine, optimistic, person who everyone loves being around?

Action: Figure out what high-value traits you have. If you don't have any, figure out which ones you'd like to obtain and start working on yourself asap.


#SquadGoals


The Millionaire Formula


Aside from being mentally ready to accept your future success, and stay motivated. Becoming a millionaire is actually a pretty easy 3 step formula.

Pre-Step: Have the right mindset and motivation. (mentioned above)
  1. Make more money than you spend.
  2. Invest that money by buying assets instead of liabilities.
  3. Let the magic of compound interest work in your favor.

How I've Been Trying to Help:

Over the past three years I've mainly focused on the first part of the equation. In my first book 12 Weeks in Thailand: The Good Life on the Cheap I show you how to use location arbitrage, budgeting and travel hacks to live off of $600 a month in places like Thailand.

In my second book, Life Changes Quick I show you how to grow your income from less than $1,000 to becoming a Thai millionaire and having over $30,000 in the bank. If you've read those two books or have been following my journey from the start, you already know how to conquer step 1.

Now it's time for all of us to focus on steps 2 and 3 which is why I've launched the Invest Like a Boss Podcast. It's the easiest way for all of us to get access to sit down with multi-millionaires and ask them the tough questions about where they personally invest their cash and what their plans are for retirement.

Action: Start listening to the Invest Like a Boss podcast today. It's completely free and you can subscribe by searching for Invest Like a Boss on your phone's podcast app or on iTunes.





Join the Boss Lounge


Also if you sign up for the email list at InvestLikeaBoss.com you'll get an invite to the Boss Lounge which is our private facebook group where you get to interact with high networth individuals and hopefully start spending time with people that'll help bring your own networth up.

As this podcast is brand new, we really want to get it in the hands of as many people as possible. We know once you listen to even just the first three episodes you'll be hooked as well as have a game plan on how to invest like a boss and become a millionaire yourself.

So do us a favor and subscribe to the podcast, tell your friends, and if you love the podcast which i'm sure you will, do us a favor and leave a review of the show in the iTunes store. If you do, take a screenshot of your review for a chance to win a $25 Amazon gift card each and every month!

Action: Listen to the show then claim your bonus here.




We hope you enjoy the new podcast, subscribe and tell your friends.

See you inside the Boss Lounge!


Warm Regards,


Johnny FD


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Post a Comment

  1. Your episode with Art of FX rings alarm bells. Possible ponzi scheme.

    http://www.financemagnates.com/forex/regulation/30-million-forex-ponzi-scheme-unveiled/

    ReplyDelete
    Replies
    1. Hey David, whenever you invest in anything whether it be stocks, real estate, forex, wealthfront, betterment, etc you need to make sure you trust that company.

      I read the article and it sounds like the CEO was skimming people's money instead of actually investing it on their behalf. Thanks for bringing up the warning.


      " The defendant and others working at his direction raised approximately $29,851,598 from victim investors, but the defendant used only a small percentage of those funds for forex trading (approximately $2.6 million), the vast majority of which he lost."

      Delete
    2. No worries. Might be legit but you have to be very careful in this space.

      Delete
  2. I find the articles so true , resourceful and informing to and any entrepreneur . Thanks .

    ReplyDelete

Please take a second to log in before you comment. I've turned off the anonymous commenting option. I'm open and respectful with you, please be the same back. Stay positive, trolls and spam comments will be automatically deleted.

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