EP268: How to Get Rich (For Beginners)
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Would you like to give yourself a raise?Â
Forget tiny bumps like $2 an hour or even $2,000 a month or $20,000 a year.Â
We’re talking about having the power to sign a blank check to yourself.
If that’s the game-changer you’re looking for, that’s exactly what we’re diving into this episode.
Have you ever considered that everything you want but don’t have might be just beyond the things you don’t yet know or do?
Here’s the deal, the gap between what you learn and what you earn is closer than you might think. So, realizing this is crucial: bridging your knowledge gap can directly increase your income. That’s where wealth is.
There was a time when traditional education was the key to success, but these days, many people who followed that path find their retirement accounts lacking.
Over the weekend, I met someone from the corporate world who told me she’s getting into real estate because she realized she couldn’t retire comfortably at her current savings rate. She said,
“I don’t have much time left, and I need to accelerate my wealth building so I can finally retire.”
Wealth, both now and in the future, belongs to those who can learn new things quickly and put them into action effectively. Â
Take a look at DoorDash. In January 2013, a team from Stanford University launched PaloAltoDelivery.com, which later became DoorDash.Â
By summer 2013, they secured $120,000 in seed funding from Y Combinator for a 7% stake. By December 2018, DoorDash had surpassed Uber Eats to become the second-largest U.S. food delivery service, and by March 2019, it led the market with 27.6% share.
The company went public in 2020, achieving a $72 billion valuation, surpassing the combined market caps of Domino’s and Chipotle. Its IPO raised over $3.4 billion, making it one of the largest in 2020.
You can see how they took a concept and implemented it within just a few months, and then, within seven years, their efforts were massively rewarded.
Think about this: if you’re struggling and your retirement account is looking empty, it’s probably because you’re stuck trying to earn how to make money the old way. Someone recently mentioned how the Kitti Sisters are making money on real estate by snapping up apartments.
But what if you’re stuck at square one, wondering how to even get the money to start? Remember, you weren’t born knowing how to crawl, walk, or run.Â
Is not knowing really a valid excuse?
You learned to drive, use a microwave, operate the AC, and water your lawn, right? Not knowing is just the start, not a stop sign.Â
We get it you’re highly educated, but if you let that convince you to stop learning, you might find yourself struggling for life.
Wealth is transferring faster than ever, and if you’re not constantly sharpening your skills, and fall into the trap of thinking you know everything, you’ll be left behind.
Now that you understand the importance of learning for earning, tune into this episode on how we made $8.65 million in real estate in just 27 months!
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