Introduction
If you’re looking to get rich, a new video from Coin Bureau hosted by Guy Turner provides a comprehensive guide on how to achieve financial success. While it’s not an easy feat, Turner shares insights he has gained from spending time with wealthy individuals and outlines a 10-step plan to help you reach financial freedom.
Understanding Wealth
The first step is understanding what it means to be rich. It’s not just about having money; it’s also about having the freedom to use your money as you wish. Turner emphasizes the importance of accumulating assets that hold their value over time, rather than relying on currency that constantly loses value due to inflation.
The Mechanics of Money
To truly understand wealth, it’s crucial to grasp how money works. Turner explains that since the 1970s, currencies have been detached from the gold standard, resulting in their devaluation. This makes it essential to think in terms of “money” rather than “currency” when planning for wealth.
Skill and Experience
To maximize your earnings, Turner advises improving your skills, gaining experience, and expanding your network. He also suggests considering contract work, which can offer tax benefits and potentially higher earnings.
Informed Investing
Investing wisely is another key step. Turner recommends diversifying your investments globally and focusing on assets that can either hold their value or generate more currency. He highlights the importance of self-custody of assets to ensure true ownership.
Master Your Craft
Becoming exceptionally good at what you do is vital for financial success, according to Turner. Most people lack the drive to improve, which creates opportunities for those who are willing to invest time and effort into excelling.
Target Growth Industries
Turner advises focusing on industries expected to experience significant growth in the coming years. He mentions the crypto industry and 3D printing as examples of sectors where one can quickly become an expert and earn well.
Join or Start a Startup
Once you’ve made industry connections, the next step is to either start your own venture or join a startup. Startups often offer higher pay and the opportunity to have a stake in the company, increasing your potential for wealth.
Achieving Escape Velocity
Escape velocity is the point where you’ve accumulated enough wealth to achieve true financial freedom. Turner suggests two ways to reach this stage: selling your company or taking it public via an IPO.
Maintaining Wealth
Maintaining wealth is challenging, according to Turner. He warns against overspending and advises staying vigilant about potential changes in tax laws and regulations that could impact your financial situation.
Enjoy the Journey
The final step is to enjoy the journey toward financial freedom. Turner reminds viewers that the ultimate goal is to have more time to do the things they enjoy with their loved ones.
Remember, none of the recommendations provided should be considered financial or investment advice. It’s crucial to conduct your own research and due diligence before making any investment decisions.
Hot Take: The Path to Financial Freedom
If you’re looking for a roadmap to financial success, Coin Bureau’s video offers valuable insights. Understanding wealth, mastering your craft, targeting growth industries, and maintaining wealth are all essential steps on your journey. By investing wisely and being proactive in your career choices, you can increase your chances of achieving true financial freedom. Remember, it’s not just about the money but also about having the freedom to enjoy life on your own terms. So take control of your financial future and start working towards your goals today.
By
By
By
By
By