How to ACTUALLY Get RICH from $0 (Step-by-Step)

so in 2017 I was 40K in depth waking up with panic attacks every single day not knowing how I would ever pay this down fast forward to just a few years later in 2020 I became a millionaire at age 26 and since then I've been traveling the world choosing to work or not work whenever I want and living life the way I designed it to be I've learned a lot about business and money over the years and honestly most of the stuff you hear from gurus online are complete BS if you want to learn how to actually get rich starting from zero then watch this video Until the End so first you need to do is to Define your goal what do you mean when you say you want to get rich most likely the reason why you want to get rich is so that you attain the freedom to do what you want whether that's to travel work on your hobbies or spend time with your family money without Freedom sucks and that's why even if you're rich if you're working 80 hours a week you're going to be miserable so to achieve the true Rich lifestyle of having money and also freedom of time and location what you must build is a passive income Source if you can make enough passive income where all your expenses are covered that is true wealth you get to wake up and do whatever you feel like doing that day without worrying about having to work or pay your bills so how do we build passive income well first we need to Define our freedom number so what is a freedom number it's simply how much money you need invested to generate the desired amount of passive income a year for example let's say that your yearly expenses are $50,000 this means if you can make 50k a year in passive income you never have to work again you achieved Freedom so all you do is take 50 $50,000 and times that by 25 which comes out to $1,250,000 this is how much you need invested in order to conservatively make 50k a year if you want 100K a year in passive income then you need $2.5 million invested now this might sound like a lot but keep watching and I'll show you how you can get there now if you want or need more than 100K a year for whatever reason then most likely you have an unhealthy spending habit that you need to work on or your motivation is driven by ego and for wrong reasons such as you want to make a lot of money so that you can buy the lambo and the mansions and get girls and impress others which if you really want that then go for it you know it's something that you may have to personally experience just to learn that it doesn't make you any happier like for me I've never wanted fancy cars watches or houses I've never been a watch or a car guy and I don't like to live in one spot for too long to own a house what I really wanted was Freedom the option to move to a country and live there whenever I feel like it and just have options in life so when I was 22 before I learned about this exercise I've always had the goal to make a million dollars a month not because I actually wanted that much money or even knew how to use it I just thought it would be cool and I would impress a lot of people but as I've hopefully matured a little more since then I'm realizing that I really only spent about 40 to 50K a year to live comfortably and do everything I am already doing if not more which means All I Need Is Enough passive income to cover that and for most people that should be the same so go figure out your freedom number write it down somewhere that you will see a daily and this will keep you motivated now if you're debt broke and you're starting from zero like how I did before you go and build a business there are a few things you must sort out first is to pay off your debt especially if you have a high interest rate debt like from credit cards do whatever means necessary to pay this off first because that is Step number one next you got to get an emergency savings this is 3 to 6 months of your living expenses saved up in an account to do both of these you must cut down on unnecessary spending really take a look at how your spending your money right now and ask yourself honestly are you spending on unnecessary things maybe you're eating out way too many times maybe you're buying too much you know new shoes I don't know what you're spending on but you got to stop that until you get your depth and emergency Savings in order you can't really say that you want to get rich while you're out there spending money on stupid stuff okay if you have to work overtime sell some of your stuff do whatever means necessary to get this foundation in order like Dave Ramsey says live like no one else now so you can live like no one else later sometimes you really have to go through the whole living off of rice and beans phase to develop smart spending habits and to appreciate all the money that you'll make later and also to not blow that money after when I was just getting started I worked full-time at one job then I would work part-time at another while home cooking the same rice chickens and beans meal that I literally ate every single day for 3 years straight I also rode around a bicycle instead of owning a car and had six roommates to save money yeah those ears sucked but I'm really glad that I did it and now I'm still in my 20s and I get to do whatever the hell I want so if you're thinking that sounds hard I don't want to do this well the reality is you can't want something without being willing to do something you can't want to be rich without doing the steps that takes to get rich you either suck it up and do what it takes or do nothing and keep living the same life that you're living right now so after cutting down unnecessary expenses and paying off high interest steps now you're ready for the next step which is to increase your income this is where we start building a business now the biggest mistake people make here is they start way too many things at once they hear this quote that the average millionaire has seven streams of income so they go and try a bunch of things never focusing on one social media has a negative impact on people's mindset as well with all these make 10K in 7 Days videos popping up people's expectations are honestly completely how long people think it takes to make money and how long it actually takes to make money is completely different so going back to it what you need to do is to pick one business and it can be any business service based business like a agency or freelancing physical product based businesses like e-commerce or Amazon FBA a digital product based business like YouTube or Amazon KDP pick whatever you want I personally highly recommend you choose a digital product based business because you don't have to deal with inventory shipping and handling manufacturing no annoying clients to deal with and super high profit margins but just pick one and go all in don't just test the waters then quit after a month of it not working give it your all for at least one year take some courses follow a proven plan and after trying everything for a year and if it's not working yeah maybe you can try something else but that's the mindset you want to have Amazon KDP is the business that I started when I was a broke kid I bought a course it wasn't even that good you know it was just the only one available then I started following it taking action then I started making a bit of money then instead of taking that money out and spending it on stupid things like most people do I put it right back into the business to grow it even more every single month I reinvested my profits I didn't take profits out for the for 6 months and my income kept growing month after month by month 10 I was making 10K per month then I grewed up to multiple six figures a year when you're building a business focus on skills instead of how much money you make because if you focus on the money you most likely will get discouraged in the first 6 months but instead focus on how much you're learning and how much you're improving your skills because Jim Ron said you get paid based on how valuable your skills are to the marketplace meaning the more you improve your skills and learn how to do things that not not a lot of people can do money will follow if you focus on this by month four 5 6 and on you'll start reaping the rewards of your hard work so you cut down on your expenses you increased your income now you have a good siiz margin of money that you can save and invest this is where things get serious you want to take this money and diversify in passive assets these are something like stocks real estate and crypto now I invest in all three and some people might disagree with me on this but I do not recommend real estate for most people because it takes a lot of money and a lot of time to find deals and manage it it's actually not that passive and crypto is still a bit too volatile too so for most people I recommend you invest in stocks and buy something like a diversified index funds like vtsax typically this fund has a historical growth of 8 to 10% per year and it takes zero time to manage it you just buy and hold and your money grows not Financial advice though this is where your freedom number comes in once your investment surpasses the freedom number you should have enough passive income per year that you can live off of indefinitely allowing you complete Freedom which is true wealth but investing Millions must take a lot of time right yes I'm not saying it's going to be easy or fast but there is one ultimate cheat code that barely anyone knows about that speeds up this process exponentially and that is to sell your business now that you have a successful cash generating business you built systems perhaps you hired a few team members so it's making money without you being involved in it this business is prime to sell and depending on the type of business you you can sell for 30 to 45x of your monthly profits this means if you're making 20K a month in profit at 45x you can sell it for $900,000 this is exactly what I've done I built up my Amazon KDP business to multiple six figures a year in Revenue I kept living frugally for a couple years to save as much as I can and invest in passive assets then I sold my Amazon KDP business for close to a million dollar and that is how I became a millionaire at age 26 and what did I do with the cash that I got from selling I dumped it back into more Investments so I can increase my freedom number once you hit your goals and you never have to work again you now have choices you can chill by the beach sipping Margaritas go golfing every day or like many do you can actually start a new business and keep working but this time you do it because you actually enjoy it not because you have to that's what I'm doing with this YouTube channel I enjoy teaching others through my videos I'm still here working but on my own hours and on my own terms I truly believe what I just showed you is one of the most realistic way to go from zero to a millionaire becoming free and achieving true wealth within just a few short years it's not easy but it's not hard either because what's truly hard is working 5 days a week 8 hours a day on a job you hate waking up to an alarm clock only getting 2 weeks of vacation a year and you keep doing that until you retire at 70 years old never fulfilling any of your dreams or goals you have in life that's hard I much rather sacrific just a few years to grind and to completely change the trajectory of my life so I hope hope this was helpful if you want to build a wildly successful Amazon KDP business then you can check out my program in the description as well as all the tools and resources that I recommend either way I'm rooting for you I wish you the best like subscribe and see you in the next one

Channel: Sean Dollwet

Views: 8,115

Keywords: self publishing, amazon kdp, how to make money online, amazon kindle publishing, amazon kdp publishing, paul marles, low content book publishing, low content books, low content books kdp, low content kdp, low content publishing, no content book publishing, no content books, kdp income report, kdp revenue, amazon income streams, dane mcbeth, mikkelsen twins, kdp niche research, kdp low content, KDP tips, Publishing Life, Audiobook Publishing, write a book with chatgpt

Id: czy1W7DqJno

Length: 10min 15sec (615 seconds)

Published: Mon Mar 11 2024