I Will Teach You To Be Rich @[email protected]
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Get my new book, Money For Couples, belowđđ˝
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I first wrote this book back in 2009, but I made three mistakes when writing the first edition.
My first mistake was that I didnât cover the emotions around money. I spent time covering the nuts and bolts of personal finance, but if you donât tackle your invisible money scripts, none of it matters. In the second edition, I show you what the most insidious, powerful invisible money scripts are â and how to beat them.
The second mistake I made was being too overbearing. In the first book, I did write about the different definitions of a Rich Life, but I didnât acknowledge that we might take different routes to get there. YOU choose what your Rich LIfe is AND how to get there.
The third mistake â let me just say that Iâve messed up quite a few things in my life: Iâve hired and fired the wrong people. I ruined my chance at a TED talk by walking into the meeting unprepared. I was six feet and 127 pounds into my mid-twenties, looking like a hairy Indian Gumby. But nothing compares to my worst mistake of all: Writing the actual interest rates of banks in the original edition of this book. The information was rightâŚat the time. The problem is, interest rates change, which I forgot to mention. And readers got mad â really mad.
Over the next 10 years, I corrected my mistakes AND added new material:
- New tools, new investment options, and new approaches to money
- New money scenarios youâll confront
- Incredible stories from other IWT readers
And in those 10 years, I also changed. I got married, I grew my business, and I learned more about money psychology.
Amidst the noise, the hype, the apps of the day, the IWT personal finance system WORKS. Long-term, low-cost investing WORKS. Automation WORKS.
Use this book to create your own Rich Life, just like thousands of others have. Download the 1st chapter free if you havenât read it yet đđ˝iwt.com/chapter1-ct
If youâve read the book, whatâs the one thing you learned from it thatâs made the biggest impact in your life? Let me know below.
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Ever wonder how much other people really make⌠or what they secretly spend their money on?
Now you donât have to guess.
Iâve been collecting hundreds of real spending plans from readers around the worldâdifferent incomes, different lifestyles, real numbers.
đ¸ What they earn
đł What they spend
đ What they save & invest
đĽ And what Iâd do if I were in their shoes
Every week, I break it downâno BS, no sugarcoating. Just real talk and tactical money advice.
đŠ Want a peek behind the curtain?
Sign up for free at iwt.com/podcastnewsletter-ct
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How to Simplify Your Finances:
- 2 credit cards
- 1 checking + 1 savings
- Simple investments (e.g. target-date funds) in retirement accounts & if applicable, taxable accounts
- Pick 1-2 areas to cut spending
- Pick 1-2 areas to spend MORE on
Now go live your Rich Life.
Learn how to make managing your money easier here: iwt.com/money-ct
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I'd love your input on upcoming podcasts. Vote here: docs.google.com/forms/d/e/1FAIpQLSejtTMHY_hP554sRTâŚ
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Many people believe that âinvesting = picking stocks,â which stops them because it's intimidating.
âHow am I supposed to know what to buy?â
âWhat's a good price?â
âWhat's a P/E ratio?â
You have lots of great investing options. In general, individual investors should AVOID individual stocks and focus on index funds or (my favorite) target-date funds.
ââWhat's a target-date fund?â
đđ˝It's a single fund that you choose based on your age. Just one fund â that's it. It's automatically diversified, it automatically rebalances over time (becoming more conservative as you get older), and is low-fee. A single investment means you can focus more on aggressively growing the AMOUNT you invest, rather than trying to guess which stock to pick.
I cover this in the IWT book in great detail. If you're reading this and you've ever held back from investing because it seems too complicated or scary, my goal is to demystify investing for you. You deserve to create a Rich Life, including financial wealth â if you do the work to get it.
Download the 1st chapter of my book for free and get started today: iwt.com/chapter1-ct
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Every one of us has an area that we naturally love to spend money on. I call these âMoney Dialsâ because you can âtuneâ them up or down â just like a dial.
If you were to look at someone elseâs spending for 10 minutes, you would instantly know what their Money Dial was. And if I were to look at your spending, I could tell you what yours is.
I asked you what your Money Dial is from the 10 Money Dials that we LOVE to pour our money into. This chart represents what you told me.
I find Money Dials fascinating for several reasons, but the most fascinating part is when weâre misaligned. For example, some people say, âFamily is # 1,â but if you look at their calendars and spending, the family is not even in the top 10.
Money Dials are an easy way to diagnose what you claim is important vs. what is actually important.
Does this chart reflect what you thought people spend the most money on? Does anything surprise you about the answers?
đĄ Key Takeaway: To live your Rich Life, you have to know what you value (your Money Dial). Look at your own spendingâŚwhat gets you excited?
Many of us mistakenly believe that we need a budget to help us dream more. But that's a tactical solution to a psychological problem.
Your Money Dials are the things that you are willing to spend extravagantly on by cutting back mercilessly on the things you donât care about.
Use my Rich Life mini-course to help you find your Money Dial and design ways to spend more on it: iwt.com/design-rich-life-ct
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Ever wonder how much other people really make⌠or what they secretly spend their money on?
Now you donât have to guess.
Iâve been collecting hundreds of real spending plans from readers around the worldâdifferent incomes, different lifestyles, real numbers.
đ¸ What they earn
đł What they spend
đ What they save & invest
đĽ And what Iâd do if I were in their shoes
Every week, I break it downâno BS, no sugarcoating. Just real talk and tactical money advice.
đŠ Want a peek behind the curtain?
Sign up for free at iwt.com/podcastnewsletter-ct
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Here are 3 things to know before starting a business:
First, you need to BELIEVE that you have skills which people will pay for. Everyone does...Just ask your partner or friends what youâre really good at to get started.
Next, remember you donât have to quit your job on day 1 of launching your business. Many of my students started their businesses on the side while working their full-time jobs.
Lastly, remember that slow and steady wins the race. Itâs important to get your mindset right going into this new, exciting endeavor, build resilience, and be creative. Believe there are opportunities everywhere.
Are you ready to start a business but don't know where to start? Download my FREE step-by-step guide to help you find 20 ideas to get started today điwt.com/findanidea-ct
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A little while ago, I sent out a survey to hundreds of thousands of readers. I asked if they wanted to start their own businesses. 90% of them said yes!
When I asked what was stopping them:
- 25% said âI donât have an idea.â
- 30% said âI donât even know where to start.â
About HALF of the people who want to start a business and start living their own Rich LifeâŚblocked before they even start
90% want to start a business, but over half have been âthinking about itâ for years
A month is OK to be stuck. 6 months is OK. Years is too long
Sometimes we need someone to pat us on the back, affirm how tough it is, then look us deep in our eyes & say, âLetâs cut the sh*t.â
If youâve wanted to start a business & you donât have an idea, today I want to help you
I want to show you how, if you follow the right system, you can build a successful business â even if you donât have an idea yet
How to generate 20 potential business ideas overnight:
I want you to start off by thinking of something you love. Something you just do for fun & you know youâre good at
You might be thinking, âWhy would anyone pay me for that?â
Most people donât connect their skills & passions with a business
We think, âI need to create an appâ or âI need to start a restaurant.â But itâs often the ideas right in front of our nose that have the most potential
Just think about things you do naturally:
- Maybe youâre amazing at organizing events
- Maybe youâre awesome at critiquing your friendâs resumes (I turned it into a multimillion-dollar product)
- Maybe youâre great at doing handstands (yes, people get PAID to teach this)
Whatever it is, what if someone would PAY you for those things?! Itâs happened with many of my students
You donât even need to quit your day job. You can start small. The point is to just START.
Download my step-by-step guide to help you find 20 profitable business ideas: iwt.com/findanidea-ct
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So which one do you invest inâŚ401(k) or Roth IRA?
The simple answer is BOTH: These accounts, while conceptually different, work together pretty well.
Here are the steps you should do when investing. (Donât worry if you canât get through each step â do as much as you can!)
â 1st: Max out any 401(k) match that your company provides
â 2nd: Max out the $7,000 for your Roth IRA
â 3rd: Max out the rest of your 401(k), up to $23,000
â 4th: If your employer doesnât offer a 401(k), youâre not employed yet, or you still have money left over â open a regular, taxable investment account & put money there in stocks, index funds, etc.
When it comes to money, itâs very easy to end up like most people â just doing nothing. Instead, get your accounts open and follow these steps to START INVESTING today.
In my FREE Ultimate Guide to Personal Finance, Iâll walk you through step-by-step how to open and invest into these accounts: iwt.com/money-ct
How do you feel about your investments â excited, lost, stressed? Letâs help each other in the comments below đđž
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Get my new book, Money For Couples, belowđđ˝
Iâm the host of Netflixâs âHow to Get Richâ & wrote the NYT bestsellers, âI Will Teach You To Be Richâ & "Money For Couples"
I believe you can spend extravagantly on the things you love as long as you cut costs mercilessly on the things you donât.
Hit subscribe for my weekly videos on couples & money â real numbers, real talk, from behind closed doors.