After I Read 103 Books on Money - Here's What Will Make You Rich
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- Опубліковано 27 вер 2024
- Most books are just 1 page of interesting content surrounded by 300 pages of fluff.
Your time is precious, so let's cut through the fluff and get to the core money lessons I learned from reading well over 100 books on personal finance, money, and investing.
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Yo friends! Thank you so much for checking out the video. Hope you got a ton of value from it.
Before you boogie on out of here, can I ask you a question?
What're you struggling with these days?
I'm trying to figure out the next batch of videos and would love your feedback! Let me know in the comments.
Oh, and also!
If you want to go even deeper on productivity, business, and investing, then you should check out my weekly newsletter (The Hyperfocused Entrepreneur).
It's totally free and you get access to exclusive content for subscribers only!
Hope to see ya on the inside!
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I've been struggling with time management, I have exams coming up and I'm not sure how I'm going to get through everything 😭😭
hope this helps lol
Anthony, what a great video! I feel like you and Alex Hormozi are the few on youtube that actually give advice based on experience lived through lots of trial and error etc. To answer your question, or maybe a follow up to one of your video points... how, exactly do you build a good business? Not the generalities but the specifics? Alot of videos go along the lines of, find a problem in the market, solve problem, make sure product is good, b) look at those who have been successful and reverse engineer their success. I suppose at some point there comes a point where we will seek out experts to help us (be it hiring people to run certain things), or mentors who have walked the path. How do we discern who to listen to, how to ask specific questions, when to heed advice, when to ignore advice? what circumstances where only trial and error will solve certain problems? Thanks and keep up the awesome videos!
I am struggling with people. I mean have you ever felt that you are all alone. As you reach 26 age, you don't have friends, money becomes a necessity. You understand that it takes time to achieve everything from scratch and consistency is the key. I don't believe in friendship and in love(apart from parents). I just started to understand that you will get betrayed eventually so its better to stay alone and avoid everyone. A person may be kind but if he experiences so many negative emotions like helping a friend but then getting stabbed by them. or loving someone deeply but she replaced you at a blink within 2 weeks. Everyone wants to take advantage or talk to you for their own selfish intentions. I am afraid all this experiences make you angry and cold hearted. You stop helping people and always have your guards up. What is your take in this matter ?
Curious about your take on energy. Energy for achieving more.
with my purpose. what should i focus on
At the start you say "Money is the root of evil" but the actual quote is "For the love of money is the root of all sorts of evil." . . . It's not the money, but the greed/envy that is the actual issue being described.
So true 👍
Yep, yep.
According to the book rich dad poor dad that "the lack of money is the root of all evil"
@@fwydchickn1748 exactly no such thing as greed as far as money get all they money you wish
@@fwydchickn1748 So, which religion is Robert Koyasaki a minister of?
I watch a LOT of money related content; saving, investing, frugality, mindset, budget, etc….and in 9 years on UA-cam, this is sincerely one of the very BEST videos EVER! You are real, genuine, truthful and non-judge mental while stating facts in a compassionate yet realistic way. BRAVO!!! You’ve got a grateful new subscriber here AND I especially appreciate the gratitude at the end without the pitch (no harm in pitches but sometimes it’s just nice to hear “Thank you” with no strings attached).
Thank you, thank you, thank you, Sarah. I really appreciate the love and support. It means the world to me!
What other videos do you recommend?
I love when people like you do lot of research, spend time and effort and then share findings with others to add value in their respective lives. This is pure gold effort , keep it up brother.
Psyched that it saved you some time and brought you some value!
Anthony- really appreciate your straight-to-the-point, zero bloat videos. Most creators start pushing clickbait and a product that becomes their main focus. Unlike them, really enjoy your authentic style. Keep it up man.
I appreciate that! Thank you, Selim!
I've just turned 30 and I'm not where I wanna be as yet. Discipline is what I lack. When i plan my day I don't stay the course. I know what I want and want to achieve but because I'm holding myself back I feel like I'm no where achieving anything at times. Listening to your vids has given me some encouragement and ik in the next 5 to 7 years I'll be wealthy and I will come back to this channel and say thank u
Psyched for that day, Jonathan. Go get it, brother.
Just start working more!!!!
The best lessons are learned from failure. Ime.
Hi Mr. Anthony Vicino thanks again for your vids. I know u said to send a DM for more insight but it seems like I'm not getting through.
How are you doing 1 year later?
One of the most straightforward, simple and eloquently put money videos I've seen. And I've been watching a lot. Thanks for sharing.
Glad it was helpful! Really psyched you enjoyed it.
“Saving is just another form of spending.”
This blew my mind. With saving out of the picture you’d think investing is the no-brainer priority for everyone to take on as their next step. Unfortunately they tell you not to bother investing until you have x-amount saved up anyway.
That's a gamechanging perspective right there, huh? Changed my life.
only issue is that when money tightens (interest rates increase) that causes assets to deflate... cash is king when assets are deflating because few people have access to cash and they have to sell at a lower price.
Inflation turns into deflation when assets are propped up by cheap credit and inflated multiples (100X PE)
@@stachowi you mean INflating? Inflation causes the value of the dollar to drop..
But yes for sure cash is king when fewer people have access to it.
And there’s value in liquidity.
Saving may be spending but you’re spending money to have a valuable asset as well. Liquidity.
Which is, potential.
And there’s also risk in investing. It’s not guaranteed.
But of course your money is guaranteed to depreciate as well..
So there is risk in holding it too. So you *are* PAYING to save and have it on hand instead of putting it into assets.
@Anthony Vicino
@Qiui Feetuccine
"Unfortunately they tell you not to bother investing until you have x-amount saved up anyway." How is this unfortunate? Don't people need an emergency fund?
Your videos and Alex Hormozi are the reasons I feel like I'm already ahead in life at 22. Thanks for sharing Anthony 👊
Aw, it's always humbling to be mentioned in the same breath as Alex. You're WAY ahead of where I was at your age, that's for sure, Brandan!
@@AnthonyVicino You're one of the refreshing real ones.
@@JakeDuthDev Much love, brother.
Hey, no offence, but are you for real ahead in life?
@@luigidanza7425 by financial means, no. I'll be 100% honest about that. But in terms of general maturity and direction in life, I know the vast majority of others in early adulthood have close to nothing figured out. It's a tough time of life, but I'm grateful to be figuring out 2 things a little more easily from these videos: a sense of meaning/direction, and a sense of personal control.
I’m a self-made multimillionaire. I can confirm I track every dollar in/out (simple excel sheet). I’ve been doing this for over 20 years. It allows me to maximize how much I invest. Simple yet effective
Boom! Thanks for sharing, brother.
This is why I really enjoyed reading the psychology of money. It's all about the mindset behind money. We dont always make money decisions based on a spreadsheet. Some are made at dinners tables where loved ones are in mind. Everyone has their own situations and finding the path that would help us win the money game at the end with the fulfillment. I am grateful for your insight 🙏
That's one of my favorite books on the topic. So good!
@@AnthonyVicino Hi! What are the top 3 financial books for you? Greetings from Argentina.
How come only humanity needs money to thrive?. . lol oh thats right because they brainwashed themselves to be overly dependant on something no other life actually needs. . way to go!!!
I'm reading the book
such a good book; one of those few books that is really a mind-changer
I really enjoyed the simplicity of it. These rules might seem like fundamentals, but if repeated consistently over a long period of time, they will get you 90% of all results. Thanks Anthony!
That's 100% accruate, Vitaliy!
Money is everywhere. It is just about finding a way to get it. And in my life I've also learned that it helps to have a good relationship with lots of people, because they make it easier for you to get what you want.
Agreed!
“The LOVE of money is the root of all evil” Great video. Subscribed and like every video of yours I watch. Thanks!
Love to hear that, Keith! Thanks for being here and checking out the videos!
I’ve been hunting for a video that will give me the clarity to my curiosity when it comes to money finance! I would honestly say you’ve done that for me in this video alone. Thank you!
That's so awesome to hear! Thank you.
same!
You are highly motivating and sensible. Thank you for helping the hardworking generations.
I appreciate that!
When you invest, you're buying a day you don't have to work
Great way of looking at it.
You're right , it's obvious a lot of people remain poor due to ignorance, it's better to take risks and make sacrifices than to remain poor
I recently got into forex trading and im already marveling over the profits I'm making, I'm like " how the hell have i been sleeping on this
Same here, I wish I knew about this Bitcoin trading earlier, brace up and get yourself some Bitcoin before it's too late
Obviously trading in bitcoin is very volatile and risky to trade that's the reason most traders trade with a company
'You build a cash generating machine and then pour the proceeds into cash generating assets'
Thank you so much sir
Learning alot from your videos
Glad you found value in the video!
That dichotomy of morals surrounding money has been a big issue for me. "How can I be a good Christian and still become a hyper-successful businessman?" So I'm glad you spoke about it!
I think A LOT of people struggle with this. You're not alone.
How to succeed without greed! A good title someone should write the book or make the video...
By obeying the rules of morality. Ime
@@Kitiwake But what are they exactly? There are so many "meat sacrifices to idols" gray areas where it's up to our personal judgement.
Always nice to see a new video from you my friend :)
Will have this one playing when I do my evening meditation today.
Heck yeah! Hope it makes for one awesome meditation session!
This is the 6th or 7th video of yours that I’ve watched in the last 24hrs. In the past 1-2 weeks I’ve been watching video after video of different UA-camrs on the topic of financial education/strategies/how tos. While other UA-camrs do give out some good, sound advice, yours has been good, sound and, most importantly I feel, practical. I can immediately apply your advice in the work that I’m already in, instead of going out and creating a completely new business (which I understand is exactly what some people are looking for, it just doesn’t apply to my situation). So practical in fact that as I’m watching your videos, my brain is already working away thinking of ways to implement your advice immediately.
Finding your channel has definitely spurred an entrepreneurial spirit that I never thought I had! Thank you!!
That warms my heart to hear. Thank you for sharing! I'm so psyched you're finding the content valuable.
@@AnthonyVicino that’s very cool that you reply to comments like this! Thank you!
Completely spot on, a few friends and i were just discussing this concept...share your knowledge, and its cash "flow" for a reason...its meant to flow!! Great video
So true! It's cool you're able to talk with your friends about these topics.
@@AnthonyVicino And i am teaching my kids about money too...
Paul’s quote in 1 Timothy 6:6 “But godliness with contentment is great gain. 7 For we brought nothing into the world, and we can take nothing out of it. 8 But if we have food and clothing, we will be content with that. 9 Those who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge people into ruin and destruction. 10 For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.”
Interesting
As a highschooler wanting to become wiser about life in general and having not really any knowledge of finance, this video is very helpful! In my case, classes of this is being offered next year but I am graduating this year... So I need another means of learning as an alternative.
Glad it was helpful! Bummer you won't be able to take those classes next year, but that's alright... all the most important lessons I've learned were learned outside the classroom.
@@AnthonyVicino will do!
Anderson, the fact your seeking out this journey at a young age bodes well for your economic future. Just remember financial stability leads to independence and opportunities. Beware of the human desire to gain something quickly without discipline. And at all costs be careful you don’t worship$.
That should be...classes "are" being offered...that is the plural of the verb ..I suggest doing what I did....work ..and work more...there are more than forty hours in the week!!!!
The only self improvement and finances channel you need
Aw, thank you. That means a lot. :)
I agree 👍
This was such an interesting watch. Loved how you broke it down and simplified everything.
Glad you enjoyed!
In 2019 I did the same, only I read a book a week primary on mindset, wealth or self-help. What I gained? Wealthy people just think and act differently. They value time over money and equate a dollars worth to time itself. Live life or slave it away working for someone else...
Truth. Time is the ultimate currency.
I liked the analogy with the playing cards. I try to explain to my brother that you may been dealt certain cards, but doesn't mean you can't play for a better hand.
Truth! Glad you like that analogy.
Aye congrats on the 100k! I appreciate your content!
This is the first time i saw you and i'm aleady grateful.
So for the next batch of videos...i dont know your other ones, but for your authenticity i'd probably take advice in moral or ethical questions from you. Like: Is it ok to become a millionaire? Do you have to take advantage over others? How to feel calm becoming rich? What about jealous people (family, friends, neighbours)?
Those are really interesting topics. Thanks for the suggestions!
Background tone is making those rules more touching and realistic.
Glad you enjoyed!
Thanks Anthony! Super great refresher in building wealth. I am on my way! Grateful toward positive energy!
You got this!
Time is the greatest commodity we all have; Money is only a universal method of managing our time. It is only how you personally view it as a positive or negative. Based on your internal view you will adjust how you personally use it to achieve your goals.
Thanks for sharing!
What a Great informative video this is! You broke it down to these 3 simple points. Congrats sir, I learned a lot. 👍
So psyched to hear that, Ricky!
Thanks heaps man. I needed this. Myth buster. I will make sure I will go through your all videos. FYI it’s my third time watching this video. Keep up the good work Anthony.
Damn, that's really cool to hear. Psyched you've gotten so much value from the video, Kiran.
@@AnthonyVicino Gday mate.
Heavenly Father I pray that you keep the person reading this Alive, Safe, Healthy, and financially blessed….Amen 🫶 ❤️
Thanks
I’m like you. I have a reading addiction. As Malcom X said “My Alma Mater was books, a good library…I could spend the rest of my life reading, just satisfying my curiosity.” If that is your library I’m jealous. Great video. R.
That's only one half of the library. The other wall is covered, too.
Seriously, having a bad ass library is one of my proudest possessions! I don't need a Lambo... I got books!
Such an interesting perspective when viewing life "like a game". You're presented with 1 life (granted not everyone starts at the same level) and those that know how to play the game are given many advantages. I wish kids were taught this at a younger age! I attribute a lot of my financial habits with growing up playing the game Runescape (learning to save/buy/sell within the grand exchange)! Thanks for sharing Anthony!
You're so welcome, Max! Glad you found that perspective of playing life like a game helpful.
Anthony, I’ve been doing pretty well on the money front for the past couple of years (subjectively, ofc, and according to my circumstances) and I cannot agree with you more. Rule number 1 - spot on. But it is the rule number 2 that I really like. Very insightful and I haven’t heard it put this way yet. Completely accurate, ofc. Greetings!
Thank you, thank you, thank you, Kristina! Glad you found those rules interesting and somewhat new!
Dude, I love your content man. I aspire to be as intelligent as you learning day by day to gain valuable skill sets💯
I appreciate that, Bryce. Thanks for checking out the videos, brother.
I learned the rules of money when I was around 24 or so. They are the same rules you're talking about in this video. They work. I made then work. I've taught these rules to my advanced martial arts students for well over 40 years now and those who listened and acted made them work. Did I mention that they work? They work. Thanks for your presentation!
Thanks, brother! The rules are simple and if you follow them, as you say, they work!
@@AnthonyVicino It's not easy, but the rules are simple, aren't they? But there's so much bad guidance out there to distract folks who could really benefit if they had better resources to draw on for decision making.
@@longwoodcurrencytrading Exactly. Simple, but not easy. I see a lot of people get tripped up on the difference between those two.
@@AnthonyVicino They fear loss more than they can see that they could make it work.
The richest man in Babylon is the only book to read to understand money.
Bro you are spot on in everything you said!!
Thanks, brother!
Thanks Anthony for these 3 valuable lessons. I recently came across your youtube channel, and for me you are by far the best coach for reprograming our mind and educating us about the game of money and financial freedom. You share your knowledge and wisdom freely with real care for humanity and most importantly without chiling any product. I am really grateful for your content and wish that you continue to prosper and be blessed abondantly in your life.
Glad you like them!
The budget was the #1 thing that changed my financial life. Once I started putting down even the most simple things I spent money (like your pot pie example), I got a clear vision where all my money went.
So simple, yet so powerful.
The saying ”for the love of money is the root of all sorts of evil” is basically bs if you understand what love is. When you love money you look after it and make sensible choices to make sure your money does well, much like when you love your kids. When you love money you protect it from unhealthy desires, you use it wisely for it to be a great helper and you nurture it for it to grow and multiply. Love money, don’t lust after it.
Good distinction.
It is still unhealthy, money should not be the priority but only as a means to help others.
Great piece of content, thank you for sharing! as an idea, can you do your top favourite books on money (finance)? since you went through the lessons you learned, it would be a good idea to recommend those books that have helped you well.
Thanks, Moa! You can check out a bunch of my favorite books here:
www.amazon.com/shop/theanthonyvicino
A quality video like this deserves a like and a subscribe. Thanks for sharing the knowledge.
Thanks for the sub! Psyched to have you here!
I read a book not even related to making money. It doesn't even try to explain anything about making money but I got more from this book about making money and making things happen for myself than I have from any book about making money. Crazy I know.
That book is the art to masculinity by james francis
Interesting. Never heard of that one.
"And they will..." Well... I did! Great video, thank you.
Ha! And I am so grateful for it! Thank you!
This channel is a true gem on UA-cam :)
Glad you think so! I appreciate you being here.
Robert Kiyosara needs to hear #1 becausd he might be super rich but he's such a hater! Listening to his podcast all he does is put poor people down, calling everyone stupid, idiots. He projects such negativity. You on the otherhand are so inspiring.
Totally agree. Robert has turned into a bitter old man. Not even sure why, to be honest. Poor people have helped him get where he is!
I agree 👍
Kiyosaki?
If you had listed out your top 10 books from the 100 at the end, that would've made this the ultimate video.
Dang... I might have to put together that list. :)
"Money doesn't care who it belongs to". I made that one up myself after I failed at HELOC 101. Really enjoy your channel. I guessed right on all of your questions. You would smile if you saw my Budget & CoL spreadsheets! Sadly, I can't convince anyone in my family or my girlfriend even to start paying attention and keep a budget. If you are ever out this way I'll buy you lunch. Best regards from the west coast of Canada! ss
Appreciate it, man. I might take you up on that lunch someday.
So frustrating how simple it is to keep a budget and track expenses, and yet so many people refuse to do it.
this is a nice video!
I'm almost lost myself with depression not knowing what to do.
But this information you shared showed me a light in tunnel
thanks🙏
Psyched to hear that!
This is an excellent video! The best I’ve seen on UA-cam. I can tell you’ve read a lot on money. I want to clear something up though. At 1:00 you said some people say “money is the root of all evil.” I’ve heard this before too. The people who say it are misquoting the Bible at 1 Timothy 6:10. It doesn’t say money is evil. It says the LOVE of money is the root of all evil. This is true. After all, the majority of crimes are financially motivated. The Bible doesn’t warn against making money. It warns about developing an unhealthy relationship with or a love of money to the point where you’ll do anything to get it.
Thanks, Jack! I appreciate you checking out the video, brother.
Yo, Love it, bro. Finally, I can breathe peacefully on the thought that ''Thinking about money is not a greedy thing''. I was amazed by the thought of "how saving money is equal to spending money". Most people don't make an effort to learn how investing can actually help make money.
And answer to your question ... Can you make a video explaining what you are doing. I mean " How to make money from UA-cam by making videos on the stuff that can be helpful to people''.
And one more please you have read many books on money, right? I am sure many of them may have repeated content. So could you suggest some books that are really worth reading along with the sequence that you would have preferred. Now I know it sounds Nerdy, but I can't help. I see you as my tutor so that I can walk on the right path shown by you.
Absolutely, Dolly. For my list of finance books worth reading, check out this video where I break'em down starting at aroun the 7:30 mark.
ua-cam.com/video/QMgKbk9LSjI/v-deo.htmlsi=LpOFd1ipFtVFZ64j
To your other question about making money on YT, check out this episode of the Amplified Impact podcast:
ua-cam.com/video/L5twifx5a6s/v-deo.htmlsi=Wi3iVK-0_AIyqYVh
@@AnthonyVicino Thankyou 😊, sometimes I think of someday I have boyfriend, even he won't reply my texts that quickly as you do your subscribers comments 🤣
Great video. Loved every part of it.
That said, no one ever said money is the root of evil. The Bible which you are probably referring to says money is good, money answereth many things. But “THE LOVE” of money is the root of evil. Because if you love money over all else, you’ll be willing to do anything.
Appreciate it, Joseph.
"Most books are just 1 page of interesting content surrounded by 300 pages of fluff." - this 100% true
:)
Thank you for your beautiful energy, your intelligent mind and your magnetic positive vibration you are a money attractor and so am I thank you for your wisdom knowledge is power💜💜💜💜
Thank you so much for the love.
Pretty good video and while there's "enough to go around" in a sense but not for everyone to be wealthy, that's actually absurd unless you mean unlimited printing of money which would deflate/devalue the currency, money is finite.
Depends on how you define wealth.
You are "wealthier" than your great, great, great grandfather (even though he might have had more money than you). Your quality of life is SO much higher than his, and at the end of the day, that's the ultimate wealth.
@@AnthonyVicino lol!
I believe you were the one that said there's enough to go around and you weren't talking about quality of life, you were referring to money but it's ok, you're still cool, I'm subscribed bud.
The daily auditing advice is very solid.
The only thing I didn't like was the comment about saving being a form of spending. I understand what you mean, but I also think it could confuse some people. I think doubling down on the daily self auditing and making sure that the money being spent is being invested, whether that's in some kind of stocks or in yourself, such as a in a good backpack/cooler that you can pack a meal or two for yourself before you go to work, so you don't eat out. It's important to note that not all investments are about putting your money to work, some are about limiting the money your spending in one place, so that you can do other things with it somewhere else.
It is a game, but sometimes the focus needs to be on stacking some cash for a move that needs to be made. It's not about saving to save, it's about saving to invest.
That's a good distinction.
I am a big believer in stacking cash so you can be ready to pounce on opportunities.
Great message and delivery, property is tops but be prepared for abject misery if you get an exploitative tenant, it's all a question of luck, pre-screening can reduce the risk.
A bad tenant can be a REAL headache. No doub.t
Thank you I’m very grateful for the tons of valuable information you give stay blessed
Glad it was helpful!
Excellent content, you have a new subscriber. Keep grinding brother.
Appreciate it! Welcome aboard!
I learned so much in this video. Excited to learn more from you, Anthony. Thank you!
That's awesome, Crystal!
''everything for the click and they will!'' sure got most of us :D nice video mate
And I love you guys for it. Truly! Psyched for each and every one of you who checked out the video.
More of these please 😊
Will do!
@Anthony Vicino Thanks Anthony. I particularly love that you reference the stoics throughout your video series. I think the design, the layout and the content of your videos is absolutely spot on. You come across so well and you clearly know what you're talking about.
My business has just achieved its first year. I've added more fantastic ways for Therapists to advertise, sell and market their businesses. However, I still lack in the ability to forge the perfect sales pitch. I'd really appreciate any books or resources you can recommend to form the perfectly structured sales pitch to help boost my confidence. I think you're fantastic and I'm glad I came across your content. Warmest regards, Samantha.
"Fundamentals win championships"
Gonna engrave that in my mind
That's a great quote to keep locked in your mind!
Thumbnail is outta this world
Thanks, brother. This one took some doing. :)
Your videos are very helpful. Keep making videos💗
Glad you like them!
Would love to have the reading list of which books! :D
Here ya go:
anthonyvicino.com/12-books
Glad to see your channel grow ☺️
Thank you so much, Xavier. I really appreciate that.
At about the age of 33 I realized that the 40-48 hour week wasn't working. I spent the next 14 years working 80 sometimes 90 hours. I retired in 1999 at age 48.....I made my money in real estate....
He is correct when he says it's not only how much you make...it's what you keep!!!!
Honestly I never stopped working or playing....
If you do...that's when you start dying!!!!
I don't plan to ever stop working... I just always want to be able to work on what I want.
I misunderstood the Bible for a long time. I thought it said money is the root of all evil but what it actually says is “the LOVE of money is the root of all evil” which is very true.
Yep
I have tracked money for decades. Love the analogy of managing money being a game. When do we never know the rules of the game!
Thanks, Janice!
Saving is spending because of inflation is light-bulb concept... great golden nugget.
Psyched you found that illuminating!
so with what job exactly did you make millions? and what did you do step by step in these jobs so that you became that successful?
Concepts and frameworks tend to be more universal than details, but here's a bit more in the weeds for ya (also, for reference, our other channel and podcast (Multifamily Investing Made Simple) goes waaay more into detail on the nuts and bolts of the real estate side.
Also, I blog way more about details on Twitter and LinkedIn for those interested. Here is an excerpt from a recent post:
To get out of that van, I washed windows.
Bought $100 of supplies and charged $5 / window.
I knocked on a dozen doors before somebody answered.
Another dozen before I got my first customer.
That first customer put me in the black, which was great, but I was simply trading my time for money.
So I made my first two hires.
I kept knocking on doors and the other two washed the windows.
Within a month we were booked solid for the next quarter.
So I kept hiring...
And by the end of the first year we had cleaned over $1,000,000 worth of windows.
A task that would've been physically impossible for me alone was easy work for a team of ~15.
Because some people find it hard to believe that a window washing company can clear $1M, here's more math:
We were based in San Francisco where we could charged anywhere between $15-20/window depending how difficult it was to reach the window. Another $5/screen. Power washing was quoted per job, but generally a couple hundred for an hour of work.
$1,000,000 of revenue at an avg $17/window = 58,823 windows
The average house in San Francisco is 3 stories with between 20-30 windows.
58,823 / 25 windows/house = 2,352 homes / year
That's 196 houses/ month.
That means for our crew of 15, each person had to average around 15.5 houses / month (or 4 houses/week/person).
We ran daily squads of 3 that would wash anywhere between 3-8 houses/day.
**These numbers are watered down. We actually did well over $1M in Y2.
I exited this business in year 2, wrote some science fiction and fantasy novels (just search me on Amazon), then got involved in my buddy's manufacturing company producing rock climbing equipment (Escape Climbing).
We scaled that from $300k in revenue to $3M in 3 years.
I exited that in 2019 to found Invictus Capital and Invictus Management. We now own ~$70M worth of apartment buildings in the Twin Cities.
But it all started with a triplex I bought many moons ago for $246,500.
I used an FHA loan (for first time homebuyers) that only required me to bring $7,500 to the closing table.
9 months later that property appraised for $375,000.
I took out a HELOC (Home Equity Line of Credit) to tap into that $125,000 of equity and...
Bought another building.
And another...
(to date we've raised ~$25M)
As for budgeting and what-not...
I'm pathologically frugal (even today I drive a 2015 Toyota Prius C I picked up for $10k).
Happy to go deeper into numbers, but at a certain point I think it stops being helpful.
Again, concepts tend to be universal. Details, not so much
The biggest roadblock to me, and maybe most other people, is thinking about all the paperwork and forms and taxes and regulations and permits and law and lawyers and signatures and phone calls and government officials, etc. etc. that you need to KNOW to get things rolling. Not actually doing it, but needing to KNOW this stuff. I feel like you need a degree. It's not that time, it's the massive learning curve. For example, your path was stated as starting a small business, then taking the profits from that and investing in real estate. If it was just me and the dollar bills in my hand, and a handshake, I would be fine. But in today's bureaucracy, I would have no idea where to start with that. It's all the stuff listed above that is very daunting to think about getting past.
Try not to get too hung up on all that stuff. Just start, yo ucan always figure that stuff out later once you start getting traction and making money. Truth is, it's gonna take awhile to get traction. Don't let the administrtive stuff hold you back. It's easier than it seems.
Downtown Minneapolis library! I was there when it opened in 06! Love the twin cities
Yes! Good eye!
Love books! Nice summary. Thanks.
Glad you like them!
Good day, anthony! Can you create a video ranking top 10 out of 100 of the best books about money that you have read? That would be a nice contentt.
Hm... great question.
I probably won't do a YT video on it, but I'll definitely do an episode of the Amplified Impact podcast on it.
Here's where you can find that show:
open.spotify.com/show/3GRA1yxckJjr6yjNRyg56l?si=553ad79efaa34946
I"ll try and get that episode out sometime next month.
I got great value Tony. Thank you! Your background and set up were also very beautiful. Kudos
Awesome, thank you!
12:45 Minor correction, if you make $55K per year, only the last $13K is taxed at 22%. The first $42K is only taxed at about 12%.
Yeah, I didn't want to get into the nuances of tiered tax brackets as it's a concept MOST people are completely unfamiliar with.
Anthony, as always well done !
Thank you, John!
Read a few Warren or Berkshire & Munger books. Is good enough. Also their video interview or annual shareholders meeting video. Q & A . Thats all u need.!!!
I'm also a big fan of reading Berkshire and Oaktree's free investor memos. You can check them all out on their websites. So GOOD. A treasure trove of free value.
Leading by example is what matters in regards to money, you either learn to make it work for you, and how to leverage it, or you dont.
Your money is either working for you, or you're working for it. There is no third option.
Right
Really great video, thanks for putting it together for us!
I appreciate it!
Just found your channel. Absolutely love it. Thank you for the information.
Awesome, thank you! Psyched to have you here.
Historically, saving too much has been my weakness, so I'm glad that you pointed that out.
Self-awareness is huge, Ben. Now that you know what needs to change, you can go change it!
Thank you so much. I haven't seen such good work for a long time. You shared a method by which everyone can succeed, that is: keep learning and keep trying.
You are most welcome
Good video I particularly liked the part about you can't save your way rich. Counter intuitive but makes sense. Btw, your end screen wasn't working on mobile..
Glad you found that part interesting, Ben!
Thanks for letting me know about the end screen, too.
Dedinately opened my outlook financially.
Psyched to hear that!
Wow, what a great video. Truly one of the best videos I’ve seen on this topic. You’ve earned a new subscriber.
Psyched to have you here, Angel!
Very well put. I 100% agree with what you’re saying and I want to add one that you kinda already said. True wealth is gained through controlling valuable assets not working hard, but good luck acquiring valuable assets without working hard to get them. The key is working hard to acquire the asset, not working hard to earn an hourly based salary. Most gurus are trying to sell something so they gloss over how hard it is to acquire an asset that produces over$1,000,000 / yr in passive income. The reality in my experience is that it’s very hard, but it’s also a lot more possible than people realize. I wouldn’t have been able to get there without failing many times and having great control over my spending.
I think most people, myself included, don't even know where to begin. When you hear these things, you think, "Oh, I'm wasting my time at my day job," and it's very discouraging. Like obviously you need the day job in the interim, but would you mind laying out a basic guide and timeline for acquiring these valuable assets? Please explain like I'm five.
I did another video that might be helpful, "HOw to be a millionaire on a low salary". I lay out the roadmap to increase earnings, which you can then translate into investments later.
So true. $1,000,000 of "passive income" requires you have a LOT of capital working for you.
Do you have a list of the books you read? Did you read Karl Marx? David Graeber? Adam Smith?
Did you simply focus on popular, “I’m rich and so can you” type books?
You can check outy full reading history on Goodreads.
I've read all of Marx and Smith. I'm a big believer in reading the foundational texts upon which more complicated theories are built, so I try and read as much "original" works as possible.
I actually hate reading "here's how to get rich" books. There is nothing inherently wrong with them, but once you've read a few, you know everything there is to know. Now it's just a matter of application.
I will come back to you in one and the half year!!!
Use yours guids😁
Boom. Can't wait to hear back from ya
Do you have a video explaining the complexities of taxes? Or do you recommend finding someone to help with that? How about formation of a business?
Taxes aren't my area of expertise. I recommend this guys' channel:
www.youtube.com/@AccountingStuff
Just subscribed! Thanks for the video!
Awesome! Psyched to have you here.
Really enjoyed the video and your content in general. Out of curiosity, what were the 100 books you read?
Thanks, Callum! You can check out a pretty comprehensive list of all the books I've read by checking out my Goodreads account. Just go over there and search my name and then you should be able to look through my reading list.
I don’t equate a scarcity mindset with viewing other as competitors. If anything the rich are competing to be richer than others. The scarcity mindset comes from not knowing how to get/make more money and thus not expecting any more money. It’s not the idea that when others make money you stand to make less.
Scarcity can manifest in all sorts of ways. Thanks for sharing your perspective.
Understanding how to spend money, invest money, use your time wisely,keep track of your money, and build money efficiently are important, but no, not everyone can be wealthy the financial system doesn't work like that. People have to give for someone else to take. If everybody in the U.S. had say 1 million U.S. dollars they would all essentially be poor, its finacial logic. It's the people who have the most to offer that get the most in return. Reaching the highest number of people with the best solution for a problem is how you earn the most. That could mean anything people need or want. Knowledge, food, luxury, etc. You don't have to be the smartest, you just need to have what people want to be wealthy. In an equal society, not all countries play by the same rules, but thats a topic for another day.
Thanks for sharing!