What's up my friend, Kris Krohn here and today, I'm talking about the best way to
invest in your 20s and today is upside-down day because i'm going to
share with you what the world has told you are 3 smart piece of advice.
And
I'm going to tell you that they're bad advice and I'm going to be replacing
them with the 3 right pieces of advice that can show you what I did in
my 20's to become financially free and certainly what you can do to be on the
exact same path.
You know it's amazing to me that the last generation, they're doing the best
they can to raise the next generation.
But by the time you get to the next
generation, sometimes the last generations advice is not always the
best advice.
So today, I want to share with you 3 don'ts and I want to share
with you 3 do's and I think these are going to kind of like shock you a
little bit.
I'm going to put this under the don't category and you don't have to
like it.
But I'm going to tell you, that number 1, you've been told that you
need to create a budget.
The second thing you've been told is
that you need to pay off your debt.
You should focus on eliminating your debt.
And the third thing that you are being told is that you need to put money away
for retirement.
Which means you need to put together 401k's, IRA's .You need to put
some qualified accounts together for your retirement and this is more or less
society's game plan and when I put it under the don't category, I'm looking at
all 3 of these and saying - "man, if this is your financial plan,
10,20 years, I'm going to go buy it.
You're going to feel screwed, You're going to
feel like - "man, this didn't work for me".
I get a little fired up on this.
I don't
know if it's the jalapeno... curds cheese, curds that I just had but if you go over
here to the do category, I've got some different advice for you.
The first thing
is, you get...Instead of focusing on a budget, you got to focus on paying
yourself first.
This is what the wealthy all do.
They don't work for their cell
phone.
They don't work for their mortgage.
They don't work for their bills.
They
work first and foremost for them, which means you're the most important bill to
pay.
And if your check to check, you know what it means?
It means that you don't
value the operator.
It means that you don't value you.
Are you not taking care
of yourself?
Are you not investing in your needs?
You are check to check.
You
know what the biggest problem is, biggest problem if your check to check and just
trying to keep yourself afloat with the budget, is that you'll never get enough
money to break the cycle.
You're waiting for a lucky windfall.I'm going to tell you
right now, you have your hand on the lever of the windfall and you know what
it's called?
It's called pay-yourself before-you pay-anything-else so that you
have something to invest.
The second thing that you need, is you do need an
education.
This says learn but what you need to learn to do is you need to learn
to invest.
I don't mean as in like learn to go to school for career training.
I'm
not talking about apprenticeship training.
I'm talking
about learning how to manage your money.
Not budget.
How to invest your money
because investing means your money works for you.
You are never going to break the
cycle of the past generation unless you can make money work for you.
Which means, work hard and put yourself in a position where you can pay yourself
and then you can learn to invest.
The last thing that everyone wishes that
they had started doing one or two decades earlier is you've got to get in
the game of real estate.
I became financially free after just 4 and a
half years of investing in real estate and there are some people that will
typically take 10 or 20 years to do it or 30 years to make significant money in
real estate.
Put time on your side.
If you focus on this list instead of this list,
things are going to change.
Now I just want to pause for a second because some
people like, "Kris, are you saying I shouldn't get out of debt?"
I'm saying
that if you get into debt, it better be a business debt, a good debt because you
learn how to do that.
Don't put yourself into stupid debt like student loans for
a degree that you're never going to use.
If you are going to use it, then that's a
great investment.
If you're not, then guess what? then you should have paused
and maybe you got before you gone to college got a little clearer on
discovering what you wanted in life a less expensive way.
Because budgeting,
managing debt and putting away, I can tell you where this will lead you in 30
or 40 years and I'm going to tell you that it's going to leave you between 80 and 90
percent short of the amount of money that you want.
So it's not a little
broken, it's not a lot broken, it's almost entirely broken.
But if you get to this
side of the fence, you're going to start doing things that society basically says,
"you're a weirdo".
You're actually getting ahead and paying yourself which means
you're setting money aside first and foremost that you can learn and then put
into investments and then you're actually getting in the game of real
estate.
Dude, think about it this way.
What if 15 homes could produce a basic 50
grand a year and I bring that up because the average income in America is
$44,000.
You buy 15 homes and you're residually
doing better than the average American.
In the next 3 years,
go buy 5 homes each 3 years.
You don't even have to...
It doesn't even take
money to do real estate if you know what you're doing which I can teach you.
Bottom line is, if you're self-motivated and you're ready to go, it doesn't take a
long time to put yourself in a position to live the
that you want to live.
If you feel like you need some classical training on that,
and you're looking for a team, a community, if you're looking for a mentor,
I provide all of that.
But not for anyone.
I'm looking for people that are actually
motivated and ready to go.
I don't care where you live in the world.
But if you
got heart and you're ready and you're hungry, those are the only two things I
need I need.
Someone with heart, I need someone who's hungry.
And if that's you,
click the link below.
Two things are going to happen.
One, you're going to get a copy
of my book and I'm going to give you my book for free.
All I'm asking you to do
is cover the shipping on it.
I'll send it to you and the second thing is it comes
with a free consultation.
Get with a member of my team and tell them that you
got heart.
Tell them that you're hungry, they'll put themselves in your shoes and
tell you exactly what they would do to get where you want to go.
Friends, thank
you so much for watching today.
Make sure that you subscribe.
I got a fantastic
video coming your way tomorrow.