How To Be F%#king Rich...
130: 77 rules of money they will never teach you.
Welcome reader! Something different today. A real look at what it takes to get rich, a bit of satire, and some life-changing advice. Enjoy your weekend.
How To Be Rich…
Create multiple income streams. Stop relying solely on an income stream that has too great an impact on your quality of life. Stop being a hostage to your own life.
You won’t get rich by working for someone else. Jobs and careers are great until you realize the salary they give you is not enough to fund any major life change. Performance-based roles are a MUST and the only right thing to do when it comes to building your career.
An emergency fund (3 to 6 months of monthly expenses) is essential. That should be your #1 priority if you do not have one. There might be a time (hopefully it won't) when this fund will save you. Yes, this belong into the being rich post. One would be surprised how many people don’t have it.
Definitions you have to fully understand (+ can apply to your daily life):
assets vs. liabilities
interest
debt
leverage
compounding
inflation
opportunity cost
net worth (difference between liquid and illiquid)
cash flow
Forget about getting rich in your late years. There is so much you can do in your 60s or 70s. Not even considering your health or what you will be able to do. You want to be rich ASAP. As it will allow you to buy yourself time, peace, or avoid doing things you didn’t want to do in the first place.
The best thing you can do today is to start tracking how you spend your money. Not to save more. Not to penny pinch. Not to become frugal. But to become aware of what takes up most of your time and energy. Every purchase we make requires energy. It might sound stupid until you realize it is true.
If you have yet to pick a career and you want to maximize your income. The answer will always come down to sales. Enterprise sales, investment banking (sales), consulting (sales), private equity (sales)… Sales. Unlimited cap and unlimited opportunities. It is all about performance-based roles.
Get a good accountant at all costs. Someone you can trust to ask for advice only those in the industry know. Once you reach the 7-figure territory with your assets. Get a good lawyer. Both will get you out of trouble and save you money.
The sooner you realize the power of compounding, the richer you will be.
You can’t go against the power of compounding. Forget about keeping up with your neighbors, friends, and the Joneses. There is a good chance they are highly leveraged… And broke.
Equity and ownership at all costs. Give yourself enough space so you do not have to deal with equity vampires or those trying to take away what matters.
Your pain tolerance directly correlates with your ability to make money.
You can make 1 mil/month, but if you spend 1.1 mil/month. You are broke. Many examples out there, especially in sports and entertainment.
The most practical way to stop spending money on unnecessary things is to identify 3 - 4 items in your life that bring 80% of your happiness.
There is no crying in a casino.
The only way to get rich is to start a business.
Read How To Get Rich. Everything you need to know about becoming rich is in it.
One key requirement for getting rich is to dive deeper into mindset work so things work in your favor. You first have to believe in and visualize them. How do you plan to obtain the amount of money you have never seen before?
Your spawn location (and where you live) plays a huge role in your mission to be rich. There is a massive difference between a top 3 city in the world, where only the sky is the limit, and living in a tier 3 city. Internet money has made this 10x better for everyone. Yet the same rule still applies (connections, potential…).
Marry rich. This might be a joke or not.
Never be 100% invested in ONLY one asset. One industry. One niche. One product. Diversify. While we are at it. Never sell your assets. What you want to do instead is hold and contribute to grow it further.
The game of getting rich is largely about two things you have to accept:
Bending the rules
Knowing the guy who knows the guy
The easiest place to get rich? Nothing comes close. America.
To get rich, you will have to be happy for those around you to have more than you. Those who cannot push through that usually never make riches themselves. It really is that deep.
Make it a habit to negotiate your salary often. Selling yourself, your ideas, and your capabilities should come naturally. If you don't ask, you won't be given it.
If you are a young person making a ridiculous amount of money. The saving and investing part will never make sense. Until you witness someone with 3x your net worth lose everything, and you start relating to yourself.
Avoid taking financial advice from boomers. They are the reason the game is the way it is today. The average boomer had it 10x easier than it is today.
The most efficient way to catch up with rich people is to do something they are not doing.
Remind yourself often that the game is heavily rigged and that you are playing against a cabal of unimaginably powerful opponents.
Remember often to "be fearful when others are greedy and to be greedy only when others are fearful." There is much truth in that.
Make sure you read and understand the rules of money.
Under any circumstances, you should NOT let others know how your finances are working out. Neither how much you make per year or what you are doing with it. Learn to downplay it, or the average people will start to despise you and see you as a threat.
Be careful what status games you want to play. There are not many. Better said. There are none.
Once you understand how to make money, the problem is not getting rich. But whatever the time it takes and the willpower it requires to do the boring work for years until it works out. You can’t avoid that part of the process.
The key to being rich forever is earning more. Penny pinching will only get you so far. The goal should always be to make more. Not try to save more.
You will never become rich by trading time for money.
When you find yourself in a large group with a bunch of random people, and the question starts popping up about how you got to where you are right now, what you are doing, and how you got all that wealth. Give all the credit to your grandma. No one needs to know the specifics. Neither should you tell them.
Don’t split a check. Never. Especially not with people close to you.
Respect money and be indifferent to it.
You can find more videos such as this in our archive.
Tax is the hidden enemy of wealth. That doesn't mean you want to avoid paying it. But it might be something you want to think about in the future.
What is better than two income streams? Three income streams.
Retirement and everything else that comes with it should be considered a scam. The same way you should not expect a system (country, government) to take care of you. They will do so with the least resources possible and ensure they have only ticked off the box on the paper.
Freedom is the true measure of wealth and the most important asset one can possess.
Being lucky plays a massive role in getting rich. No one who got rich will deny it. Trust us on this one.
One of the main reasons you want to read books is so that you are in a position to talk about the multiple topics (connect the dots, uncommon knowledge…) that others in your circle talk about. Most will not understand it or be able to relate to this.
No one wants to admit. That being rich is the result of the right series of choices. Right job. Right knowledge. Right partner. Right business model. Right investment. A bit of exposure, hard work, and everything is possible.
Learning to channel inner anger and resentment against the modern world is the ultimate tool for getting rich.
You will never get rich by not buying coffee outside. Stop believing this nonsense. It is not 2009.
Learn what the top 5 wines are right now, and always ensure that once you find an opportunity… You name-drop it. Especially around executives and those who care about prestige. Wines are their weak spot.
One good way to get a sense of how you are doing with your money is to use the FIRE calculator. Reminding yourself that if you decided to live a completely different life tomorrow… You could.
True wealth is the ability to fully experience life. - Henry David Thoreau
If you are not willing to suffer and push through enormous amounts of pain, uncertainty, high highs and low lows... You will never be rich. One doesn't work without the other.
Take care of your health while you are young. This is financial advice.
A clear sign that you are rich is when you can start midday drinking by the pool while the rest of the world has to work.
Without discipline, nothing will work along your way.
Getting rich and staying rich are two different games. One requires vision and quick moves. The other requires strategy and slow moves.
Those $250 you spent this week on Uber Eats and restaurant slop would be better invested in VOO. Your body would thank you too.
Waking up in the morning full of enthusiasm and a positive outlook on life is an underrated sign of wealth.
At this point in reading this post. You should be fully aware that all of you have a different definition of what rich means. Some think it is having 7 figs in your bank account, others prefer their freedom.
Ask yourself the same.
Take the 10 minutes of your time
If someone asks you to describe rich, what would you say? Number in the bank account? Freedom? Total ownership over every single thing you do in your day? Avoid normies? Mental health? Everyone’s definition will be different.
Write it down.
The answer is what you want to work towards.
Only wear clothes without visible logos. The more money you have the less logos should be visible.
The secret to being rich is not spending money on things you do not care about and wasting your precious energy on constant searching. Think about it. Come up with a list of 3-5 things that matter and devote 80% of your time and money to them. You will never feel happier or better doing so.
Your salary will be your biggest support and your biggest enemy at the same time. Your biggest benefit is that it will let you start things and minimize risk. Your biggest enemy is that it will keep you addicted, coming back every month for more. It is easy to get addicted and not see the big picture and what actually matters.
What most don't want to hear is that the right career choice early in life can 10x your chances of becoming rich.
Everything you will ever need to know about how to get rich can be picked up in one evening with a group of REAL wealthy people.
Tennis. Sailing. Golf. Pick any of these as your hobbies, and you won’t regret it. It is impossible to go against health, the circle of high-achievers, and the sun.
Assets are for diversification and protection, not for growth, as most tend to think. To grow, you will need a predictable cash flow coming in each month.
Health, energy, and childlike curiosity are the biggest flexes. Much bigger than the number in your bank account.
Everyone can get rich. But most can’t get out of survival mode. Being unable to think things through or see them for what they really are. That is exactly what they want. Predictable patterns without an option to escape them.
Knowing how and when to outsource your weaknesses.
Budgeting and cutting costs will never be able to cover a small income.
Cliche as it sounds, wealthy people use debt to buy assets while poor people use debt to buy liabilities. Lessons in there somewhere.
Forget about positioning yourself for maximum prestige. Your goal should always be to prioritize money and forget about playing the games that lead you nowhere.
Timing plays a huge role in everything. It definitely plays a MAJOR role in becoming and staying rich.
Never underestimate how one right (or wrong) decision can change your entire life trajectory. Yes. This is the financial advice and applies to all areas of your life.
Never reveal how much money you have. Not even to your best friends. It is something you want to share only with your closest family. Revealing your numbers has no positive effects. Only negative ones.
Disclaimer: None of this is to be legal or financial advice of any kind.
77 rules won’t save someone who switches direction every 6 months.
That Anton Kreil video is a banger. Changed my relationship with money when I saw it at 21 years of age.