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10 Money & Business Lessons I Learned in the Past 10 Years
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In this video, I share the 10 essential money lessons I've learned from over a decade of building online businesses and generating millions in revenue.
These lessons have shaped my mindset, approach to wealth, and understanding of true financial freedom. Dive in to discover practical insights, timeless wisdom, and strategies that could transform your own financial journey.
0:00 – 10 Years, 10 Lessons
0:25 – Lesson 1
1:26 – Lesson 2
2:43 – Lesson 3
5:08 – Lesson 4
7:16 – Lesson 5
8:48 – Lesson 6
10:09 – Lesson 7
11:26 – Lesson 8
13:27 – Lesson 9
14:16 – Lesson 10
1. Money as a Store of Value
Understanding Money as a Store of Value: This is The Key to Financial Success
Many people see money simply as a means to buy things, but there’s a deeper concept: money as a store of value.
This means that the money you have reflects the value you've generated for others. In today’s economy, people exchange value for money and vice versa. When you provide value—whether through products, services, or skills—you’re compensated with money, which acts as a stored representation of that value. To grow wealth, focus on providing value to others.
Ask yourself, "How can I serve others in a way that brings value to their lives or businesses?" The more valuable you become, the more financial rewards you’ll likely receive.
2. Invest in Valuable Skills
Investing in Skills is Your Best Financial Move in Your 20s
Skills are the foundation of financial independence. The best investment you can make in your 20s isn’t in stocks or real estate, but in yourself—specifically, in developing valuable skills.
Skills that are in demand, like tech, data analysis, and marketing, have a high value in today’s marketplace. By focusing on learning skills that can help you create or support value, you set yourself up for a future where your income potential grows.
Remember, your earnings are often proportional to your skills. And while markets fluctuate, skills compound and generate long-term income.
Continuously learning and upgrading your skills keeps you adaptable and valuable, which is critical for long-term financial success.
3. Set Up a Business for Tax Efficiency
Setting Up a Business is A Smart Way to Save on Taxes and Build Wealth
Taxes can significantly impact your earnings, especially if you’re only earning as an individual. When you set up a business, many expenses become tax-deductible, from meals and travel to educational courses.
This approach can save a significant portion of your earnings, which can be reinvested in the business or personal wealth. This is particularly useful in countries where personal tax rates are high, but business tax rates are more manageable.
Learning how to use business structures effectively allows you to legally minimise your tax burden and retain more of your hard-earned money.
4. The Power of Long-Term Compounding
Long-Term Compounding is The Way of Building Wealth Over Time on Auto-Pilot
Compounding is the most powerful concept in wealth-building, yet it's often underestimated. Compounding means that the returns on your investments grow over time, and those returns begin to generate their own returns.
The longer you allow your investments to compound, the more exponential your growth. Instead of focusing on short-term gains, invest with the intent to hold and let time do the heavy lifting.
This applies to both financial investments and personal growth: compounding skills and knowledge also yield exponential returns.
5. Focus on Growing Income Over Chasing Returns
Growing Your Income Beats Chasing Higher Returns
Many people fixate on squeezing a few extra percentage points from their investments, but the real power lies in increasing your income.
When you focus on boosting your income through side hustles, skill-building, or entrepreneurship, the gains can be far greater than any market return. Income growth has no cap, while returns from investments are limited by market dynamics.
By dedicating more energy to increasing your active income, you can save and invest more, which ultimately leads to greater wealth than if you only focused on optimising investment returns.
Watch the full video to learn about lessons 5 through 10.
—
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🔔 Turn on notifications to stay updated with new uploads
These lessons have shaped my mindset, approach to wealth, and understanding of true financial freedom. Dive in to discover practical insights, timeless wisdom, and strategies that could transform your own financial journey.
0:00 – 10 Years, 10 Lessons
0:25 – Lesson 1
1:26 – Lesson 2
2:43 – Lesson 3
5:08 – Lesson 4
7:16 – Lesson 5
8:48 – Lesson 6
10:09 – Lesson 7
11:26 – Lesson 8
13:27 – Lesson 9
14:16 – Lesson 10
1. Money as a Store of Value
Understanding Money as a Store of Value: This is The Key to Financial Success
Many people see money simply as a means to buy things, but there’s a deeper concept: money as a store of value.
This means that the money you have reflects the value you've generated for others. In today’s economy, people exchange value for money and vice versa. When you provide value—whether through products, services, or skills—you’re compensated with money, which acts as a stored representation of that value. To grow wealth, focus on providing value to others.
Ask yourself, "How can I serve others in a way that brings value to their lives or businesses?" The more valuable you become, the more financial rewards you’ll likely receive.
2. Invest in Valuable Skills
Investing in Skills is Your Best Financial Move in Your 20s
Skills are the foundation of financial independence. The best investment you can make in your 20s isn’t in stocks or real estate, but in yourself—specifically, in developing valuable skills.
Skills that are in demand, like tech, data analysis, and marketing, have a high value in today’s marketplace. By focusing on learning skills that can help you create or support value, you set yourself up for a future where your income potential grows.
Remember, your earnings are often proportional to your skills. And while markets fluctuate, skills compound and generate long-term income.
Continuously learning and upgrading your skills keeps you adaptable and valuable, which is critical for long-term financial success.
3. Set Up a Business for Tax Efficiency
Setting Up a Business is A Smart Way to Save on Taxes and Build Wealth
Taxes can significantly impact your earnings, especially if you’re only earning as an individual. When you set up a business, many expenses become tax-deductible, from meals and travel to educational courses.
This approach can save a significant portion of your earnings, which can be reinvested in the business or personal wealth. This is particularly useful in countries where personal tax rates are high, but business tax rates are more manageable.
Learning how to use business structures effectively allows you to legally minimise your tax burden and retain more of your hard-earned money.
4. The Power of Long-Term Compounding
Long-Term Compounding is The Way of Building Wealth Over Time on Auto-Pilot
Compounding is the most powerful concept in wealth-building, yet it's often underestimated. Compounding means that the returns on your investments grow over time, and those returns begin to generate their own returns.
The longer you allow your investments to compound, the more exponential your growth. Instead of focusing on short-term gains, invest with the intent to hold and let time do the heavy lifting.
This applies to both financial investments and personal growth: compounding skills and knowledge also yield exponential returns.
5. Focus on Growing Income Over Chasing Returns
Growing Your Income Beats Chasing Higher Returns
Many people fixate on squeezing a few extra percentage points from their investments, but the real power lies in increasing your income.
When you focus on boosting your income through side hustles, skill-building, or entrepreneurship, the gains can be far greater than any market return. Income growth has no cap, while returns from investments are limited by market dynamics.
By dedicating more energy to increasing your active income, you can save and invest more, which ultimately leads to greater wealth than if you only focused on optimising investment returns.
Watch the full video to learn about lessons 5 through 10.
—
Links:
🔔 Turn on notifications to stay updated with new uploads
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