Hi guys, it's Mark.
So today we're gonna be talking about the four key steps
you need to take in order to become a millionaire
in five years starting with $0.
Assembling assets.
I said to you, "Look, I'm not gonna give you the money,
"you've gotta earn the money."
So you came up
with quite a good way of doing it, didn't you?
Boosting your value.
- Free-to-fee is the strategy I use.
- [Mark] Building passive income.
- It's now 30,000.
So it's actually one of the best investments I've made.
- [Mark] The compound effect.
- My aim is actually to become a millionaire this year,
which is in line with what dad did.
- This target may sound crazy
but this video is based on cold, hard facts,
and the figures are entirely achievable by anyone
as long as you're armed with the right knowledge.
Today's a little bit different from usual
as we're gonna be looking at how my 23-year-old son, Curtis,
plans to become a millionaire this year
by looking at how he got started, his investments,
and finally revealing his net worth.
- He wants to be a bit nosy today, doesn't he?
- I certainly do.
This video is just to show you what's possible,
and in no way intended to be a flex.
Before we jump into this,
let me say I haven't given Curtis any money, only knowledge,
the same knowledge I give everyone for free
on this very YouTube channel.
So if you wanna grow your wealth, then subscribe
and smash that Like button for the YouTube algorithm.
So I'm here with Curtis. - Hi guys.
- And step one is all about assembling your assets.
Now you've gotta have some form of income to do that,
and that might be as little as your pocket money
as you're starting out, or even from a side hustle.
I know you always used to worry about spending your money
on stuff that wouldn't actually create income.
- Yeah, I was even worried about buying a hot chocolate
in the early days, which sounds a bit silly,
but yeah, that wasn't gonna make me any money,
but I tell you what, if I bought a coffee,
that would've given me a bit of an extra boost, wouldn't it?
- Well, exactly.
So you gotta look at the upside of whatever you do
but it's all about buying things that create money for you
rather than take money out your pocket.
So you don't wanna be buying liabilities
particularly when you start off
- It applies to everything.
So getting a laptop, getting a phone,
making that pay for itself before upgrading.
And that's what I always tried to do.
Extract as much value as I could
from the items that I bought.
- Yeah, and that even goes for getting yourself a car.
A car doesn't have to sit still out in your car park
all day long.
You can rent it out to people,
you can go and use it in the evenings
to do pizza deliveries.
There are so many ways
you can make a liability turn into an asset.
- And if you buy something used,
you can extract that value far quicker
and turn that thing from a liability into an asset.
- And also I remember
when you first bought your first laptop, I said to you,
"Look, I'm not gonna give you the money,
"you've gotta earn the money.
So you came up
with quite a good way of doing it, didn't you?
- Yeah, you would think, millionaire dad.
Yeah, he would give you the two grand for the laptop
because I was working with Red Bull,
I needed the laptop to edit, but no, it was a no.
Oh, you have to go to the bank to get the money.
But luckily, my nan gave me the money.
- Bank of nan, good old nan.
- To be fair, she didn't give me the money,
but I did pay her back over time.
So it was a loan.
Thank you, nan.
- One of the things a lot of people seem to want to do
is they get a small amount of money and they wanna invest it
and make it into a massive amount of money
very, very quickly be that in crypto or in stocks.
- Or the meme stocks, you go into the moon.
- And that's not necessarily really the way to do it.
Is it when you're young, you need to invest in yourself.
- Yeah, it's very easy to see all these people
becoming millionaires like the Dogecoin millionaire
making these massive bets on coins
and they're all going their way, but you don't hear
about the people that actually lose everything.
So it's much safer to actually invest in yourself
and progress that way and then invest after that.
- Even if it's just a book for a 9.99
- Actually I heard something really interesting about that,
is how do you get 10 hours with a billionaire?
- Well, buy their book.
- Yeah, exactly. - So simple.
Of course, a really good way
of getting your invest journey started
is picking up your free stock slice
worth between three and a thousand dollars from public.com.
I'll leave the link in a description.
So you got that laptop
and that enabled you to do lots of different jobs.
And I'd say what?
At 16 to 18, what was your net worth at that point in time?
- Well, probably minus two grand or so,
because I was in debt for the laptop,
but yeah, I was building up.
- Step two is to capitalize on your value.
And society will pay you
based on what you bring to the market.
- Yeah, and it's not just based on the value you provide,
it's about perceived value as well.
Arguably, a footballer provides less value than a doctor,
but the footballer still gets paid more
because he's more valuable to the market.
- One of the best ways of capitalizing on your value
is using your network.
And I know it sounds a bit cliche
but your network is your net worth.
- And it's not just about leveraging
your existing connections,
it's also about building a new network
around what you wanna do.
Dad wasn't in the same industry as me
but I had to create my own network
by doing lots of free videos at first
and then free-to-fee is the strategy I used.
After I built out that network,
I got so many referrals
and I didn't actually have to do any marketing,
which was great.
- A great way of providing extra value
is to niche down into the industry
that you are particularly good at and become expert at it.
- If you think about it,
a general doctor is never gonna make the same as a surgeon.
So it's being that expert in your field
and then you can command the higher prices.
- Everyone that I've ever met that has done well
believes that you can be successful too.
And it's this abundance mindset that makes that possible.
- Yeah, they don't think there's a limited bucket of money
just sitting there and everyone's taking from it
and leaving less for them,
they think that it's everywhere.
There's this abundance of money
and wealth that you just have to put the work in to get.
- I always feel in life,
you should always go above and beyond,
provide more than you promise to deliver.
That's the way to go ahead.
- Yeah, and that actually rings true for me as well.
With my first client, the first filming day we did
just didn't go very well and I was a bit demoralized
and I could have stopped there and just given her the videos
but I decided to go back, give her another free day,
and then we made some really awesome videos.
And actually, my biggest client saw that and hired me.
So if I didn't put the extra effort in,
I probably wouldn't have made that future connection.
So it's so important.
- So around 21, 22, what was your net worth at that point?
- I would say probably around a hundred thousand dollars
added to the counter.
- Step three is to create passive income.
Now passive income can't be underestimated.
It is so good.
In my business, I have multiple income streams
that are passive like my website and eBay.
And they're providing finance into the business 24/7.
Now's the time you really wanna start
ramping up your investing because you've got the cash
but you haven't got the time.
And I know I introduced you to this as well,
and you're doing really well.
- Yeah, now it's going well,
but it did take a while to build up the profits
of my business then to finally invest more heavily
into the stock market.
And when I did invest, not all my stocks are up,
no, no, no, I did experience a lot of down periods.
- So how are your stocks doing now?
That's what I'm interested in.
- He wants to be a bit nosy today, doesn't he?
- I certainly do.
- We'll start off with my smallest holding
which is in crypto.
I've got $64,000 in there.
It's my smallest
'cause I didn't actually know about it.
At the start, I was just investing in the stock market,
but 2020 and 2021 and hopefully 2022,
were crazy times in crypto,
so I thought I want a piece of the action.
- Curtis is now using the FTX app for his crypto trades,
which is really great
because the fees are 85% less than the competitors.
- And what I really love is when I use the code,
"MARKTILBURY," I get free crypto on every trade over $10.
- I'll drop the link in the description.
And what about individual stocks?
- Well, that's one I'm a little bit more excited about.
I've got got $73,000 in that approximately.
- Wow, that's a bit high, ain't it?
- Well, I am a bit younger than you dad,
so I can afford to put a bit more in.
- That is very true.
Obviously, the younger you are, the more risk you can take.
And how about your index funds?
- Well, you are always banging on about index funds
and it's so important.
I know that.
So that's the one I've been in investing in the longest.
And, well, I've got a few different index funds,
but I've got $118,000 in there.
- Wow, that's fantastic, isn't it?
Absolutely brilliant.
- I just did it to impress you.
- Thank you very much.
Oh, I understand you have actually treated yourself
recently as well, haven't you?
- Wow, yes.
Just flexing a little bit.
Yeah, now I've got the Rolex,
which was actually a really good investment.
A lot of people on Instagram
said this was a bit of a waste of money,
but I tell you what?
I paid $24,000 for it
and within the space of a couple of months, it's now 30,000.
So it's actually one of the best investments I've made.
- And everyone loves a Rollie.
So you've got all this money, he must have a Lamborghini.
- Well, sorry to disappoint, but I don't.
I've been watching your TikToks too much.
I've actually got a Tesla, which is a nice car
but not nearly as expensive as a Lamborghini.
It's worth about $50,000 at the moment.
Not an investment of course, but it does save me money
on fuel when it gets me around and it improves my lifestyle.
One of the great things about the Tesla as well
is it's a fantastic business right off.
- Well, I am proud of you
but how much cash have you got in the old bank?
- Well, you're diving deep today, aren't you?
- I am because I wanna include the audience
in how you are building your wealth,
because that can be done by them as well.
- Yeah, well, to be fair,
I've got $344,000 in the bank,
that split between some business accounts
and personal accounts.
It's not just all in my personal account.
But I have accounted for a little bit of tax
with that as well.
I do wanna make something clear quickly before we move on.
I'm really grateful for the help dad's given me.
And obviously I'm in quite a privileged position.
But yeah, I just wanna make that clear that I am grateful.
- Oh, thanks, son.
But you have been put in 20-hour days in,
so you do deserve it.
- Thank you, dad.
- Step four is the compound effect.
And this is a bit like a snowball rolling down a hill.
As it gradually rolls down, it gets bigger and bigger.
Is your money growing?
- Yeah, my aim
is actually to become a millionaire this year,
which is in line with what dad did.
I know this might sound like a massive challenge, and it is,
but I've got all of this passive income that I built,
all the businesses running in the background.
So anything extra I do adds to that,
which makes it possible, I believe.
- That's definitely a big target,
but it's certainly possible.
So what are your plans for the future?
- Well, first of all,
I wanna ramp up my consultation business.
Next, I wanna start my own YouTube channel
to start documenting my journey.
Then I want to invest more in the stock market
and whatever else floats my boat.
- So basically, he's gonna 10X it.
So you're CEO of a multimedia company
and you also have a consultation business
and you've got all this passive income coming in,
so what is your net worth?
- Well, the big drum roll, come on,
it is $630,000.
- Wow, so I'm gonna put the next video
right over Curtis' face
but don't click on it just yet,
make sure to subscribe if you wanna grow your wealth, okay?
I'll see you over there.