The Secret To Get Rich Quick

Most people are taught that the key to building wealth is simple. Spend less than you make, invest the difference in the stock market, and by the time you retire, you'll be a millionaire. And hey, it works. But there's a problem. First, you need to start early. Missing 5 or 10 years not invested can make a big difference in the end. And second, you don't actually get to enjoy that wealth until you're in your 60s. Yes, it's better than being broke and not being able to retire at all, but what if I told you there's a faster way? A way to build real wealth in your 30s and 40s. Today, I'm going to share with you the secret you need to know if you want to build wealth quickly. Let's say you started investing when you were 20. You invested $450 a month into an S&P 500 index, an average of return of 10% a year. By the time you hit 60, you'll have over $2.8 million. But let's say you're like the most of us, and you didn't get your ---- together till you were 25. In the same scenario, you would have $1.7 million at the age of 60, over $1.1 million in the difference in just 5 years. And if you started at 30, you would only have around $1 million at the age of 60. And now that may seem like still good money, but also consider how much a million dollars would be actually worth 30 years from now. Due to inflation, $1 million 30 years from now will have the same buying power as $400,000 today. My story starts when I was 25. I was making good money, but I was living paycheck to paycheck. I had credit card debt and student loan debt. No savings, no investments, and no emergency fund. And just one day, I decided enough was enough. I started diving into ways to saving money. I got into YouTube and watched channels on frugal living, minimalism, debt-free living, and budgeting. My days were spent watching these videos, budgeting and tracking every dollar, and looking for the best interest rates. I was constantly moving my money from bank to bank. Whoever had the best interest rates had my money. Every day, I was learning new ways to spend less and cut down my budget. It was only a year later, I had all my debts paid off, and I was building my emergency fund. And it was probably around a year of saving till my emergency fund was fully funded. Saving money wasn't a chore or something I was forced to do. It was fun. It was like a hobby. It kind of looked like an unhealthy obsession. It was all I wanted to do, and it was all I wanted to talk about. But after a while, I hit a wall. It felt like I learned every saving tip possible, and I wasn't able to increase my savings rate anymore. That's when the obsession started to fade. Now phase two begun. While learning about saving, I realized there was an entire world of personal finance that needed to be learned. So I started learning. The first finance book I read was Rich Dad Poor Dad by Robert Kiyosaki. Something just clicked in this book. My mindset shifted. Instead of playing defense with saving money, I realized I needed to buy assets, which is a big part of financial literacy. Investing. The first asset that caught my attention was silver bullion. Not really much of an investment, more of a store of value, but it was cheap and easy to obtain. Stacking silver became my new obsession. I was buying coins every week, slowly building up my stack. I even added a bit of gold bullion to my collection. I was checking the market price daily, and I was watching silver stacking YouTube channels every time I had the chance. This was basically saving money, but it had a higher return, and it was more interesting, so I was more than happy to keep buying precious metals. As I educated myself more about different assets, I realized if I really wanted to build wealth, I needed to invest somewhere else. And what better place to invest than the stock market? My first investment was a mutual index fund at Tangerine Bank. It was a passive investment program. I set up automatic purchasing, and every month, a portion of my savings would transfer to this mutual fund. It didn't take long until I realized I'd be getting better returns using a robo-advisor, so I started contributing to a Wealthsimple Invest account. The fees were way less and offered better returns. These robo-advisors are basically a mutual index fund without the advisor. They were also passive investing. But the thing with passive investing is that it's boring. This is when I started getting into buying individual stocks. I started with Canadian dividend-paying stocks, like Bell, TD, Fortis, Enbridge, and the Canadian National Railway. Doing this helped me learn fundamental analysis. I was learning the ins and outs of investing, and it felt like I was ready to start picking more risky stocks. I was watching YouTubers and reading articles and Reddit forums for some guidance. In other words, I was blindly picking stocks based on what a random guy on YouTube said. I managed to hit big on a few stocks like Tesla, and a few other SPAC stocks like Nikola or NIO. I bought at the right time, and I sold at the right time. But then I was getting greedy and started buying at the wrong time, and started selling at the wrong time. It wasn't long until I realized trendy stocks are too risky. They were fun and exciting, but it felt more like gambling than investing. I was also doing the same thing with crypto, buying trending coins and trying to make a quick profit. I built up a pretty big crypto portfolio, and it wasn't from the trendy coins, it was from the highest conviction ones that gave me the best returns. Your Bitcoin, Ethereum, Solana, etc. The market dropped and I lost half the value. My interest in crypto was gone, and I decided to just forget about my portfolio and play the long game. The stock market also dropped at the same time, and that's when I decided to stick with the tried and true, the method I was using at the beginning. Broad market, low cost, index funds. But this time, I skipped a mutual fund and a robo-advisor, and just bought globally diversified all-in-one ETFs. Specifically, BlackRock's all-equity portfolio. I automated everything and just left my portfolio alone. See, I learned that proper long-term investing is supposed to be boring. If you're having fun, you're not doing it right. Now, since investing became boring, my obsession with it disappeared. Phase 3, earning more income. You can only save so much of your income, and you can only invest so much of your income. In order to save more and invest more, I needed to make more money. And this is when I started my YouTube channel. I had a full-time job as an iron worker, but if I wanted to build wealth quicker, I needed another source of income. My YouTube channel was slow starting off, but within a year, I was monetized and I was getting ad revenue. I was also getting a lot of referral bonuses. My monthly income I received from YouTube ranged from $2,000 to $4,000 a month. And I was only putting in a couple hours a day into making content. But to be fair, I spent all my free time doing research and learning more about financial literacy and learning about growing my YouTube channel. I became very passionate about my channel. I was an expert saver and all my investing was passive so I could focus all my attention on growing my channel and making more money. My channel was doing great, but I couldn't stay the same for my 9-5 job. The construction industry became slow and I wasn't getting full-time work. So I did what I had to do. I quit my job and I started working on a major construction project. The money I was getting there was the most money I've ever made. The problem is I was working 10-12 hours a day on a 14 day and 7 days off shift with a total commute of 3 hours a day. So you could say my YouTube channel was put on the back burner and my YouTube income was getting less and less. But I was still making more money from my job. So much money I was able to save $3,000 to $4,000 a month. Now let's go back to the compound interest calculator. If I started late with investing at $30,000 like most of us do, but I was able to save $3,000 a month with an annual return of 10%, my portfolio would be $1.2 million in just 15 years. No need to wait for 30 years to become a millionaire. If you can save $5,000 a month and earn a 20% return, you'll have $1.1 million in 8 years. If you can save $10,000 a month and earn a 30% return, you could become a millionaire in less than 5 years. Do you understand the secret now? You just need to change the other variables. And how do you do that? Well, the way I did it was by starting a business. The big construction project I was on was coming to an end, so I took my savings and started a stump removal, snow removal business. This business became my new hobby, my new fixation, my new obsession. Everything I was doing involved growing my business. The only stuff I bought involved growing my business. With this focus, I was able to find success in my first year, a return on investment of 18%, which should get better the following year. So instead of investing in the stock market, I put my savings into a business for a higher return. And with this business, I have greatly increased my hourly rate. This allowed me to make more money in less time. So now I'm able to save $4,000 to $5,000 a month. The secret to building wealth is starting early. The secret to building wealth fast is making more money and getting higher returns on investments. And the best way to achieve this is to have an unhealthy obsession with making money. You only have so much time, especially leisure time. If you want to improve aspects of your personal finances, you need to focus that time into it. Give up the hobbies, the Netflix, the doom scrolling, the video games, the nights out at the bar, and hanging out with your friends. Sounds rough, but that's the reality. You need to sacrifice in order to achieve more. The more you're willing to sacrifice, the sooner you will achieve your goals. Get out of your comfort zone. Be disciplined and ambitious. Take risks. If you don't take risks, you'll work for someone who did. But not risky risk, calculated risk. Make mistakes, fail, then learn from your failures and mistakes. I'm by no means rich or wealthy, but I live comfortably. I have more time to spend with loved ones. And I'm in the process of building a legacy I can hand down to the following generation to give them the head start I never had. If you want to hear about how I escaped poverty, check out the video on the right of the screen. See you there.