I owe my success to America…
If you’ve heard my accent, you know it’s a mishmash of a New York City and English accent. My friends describe it as “Brooklish” (as in Brooklyn and English).
I wasn’t born here. I grew up in Britain’s foster care system…
I lived in a cramped, unheated room on top of a garage. At night, I watched my breath coil into a frigid mist.
And the future looked as bleak as my tiny room. Ever since I was 12 years old, I’d always wanted to work in the stock market.
I once told my school job counselor this. His response? He told me I should focus on manual labor. “Be a telephone repairman,” he said.
I knew in my heart that my future was in the financial markets.
As a teenager trapped in the foster care system, I soon realized no one would rescue me… That meant I had to rescue myself.
So when I turned 16, I left for America…
With just $150 in my pocket, I set a course for the financial capital of the world – New York City.
What I found changed my life forever…
It was 1987, and New York City was full of enormous opportunity… obscene luxury… and bottomless wealth – all right beside crippling poverty.
I worked three jobs. And I even offered to work for free on Wall Street until this guy named Frank gave me a shot. I started as an assistant for the big-time brokers and eventually became a big-time broker myself.
In two years, I became the youngest vice president in Shearson Lehman’s history. And after 15 years on Wall Street, I left to run my own successful hedge fund for a decade before retiring.
It sounds like a fairy tale. But the truth was I was never happy on Wall Street. Sure, the money was good, but something was missing. I couldn’t shake the feeling I was going through life as a taker, not a giver. And that just didn’t sit well with me.
I couldn’t enjoy my wealth because the higher I rose through the ranks, the more I couldn’t shake the idea that I was profiting based upon other people losing.
Long story short, I realized I wasn’t adding value to my life or the world around me. In fact, I was subtracting value and I hated the way that felt.
I decided to make a change. I took a risk and quit my job… leaving millions of dollars on the table. I launched my own independent research firm to share my insights with regular investors.
My goal ever since has been to help everyday investors bridge the widening wealth gap.
We aren’t born with the knowledge to bridge this gap. So, on this observation of Independence Day, I’ll share three simple habits that will help you achieve your own financial independence.
The Three Rules of Acquiring Money
Here is what I want you to understand: Money does not have consciousness.
It doesn’t sit there and think, “Oh, this person is deserving. Let me flow to him,” or, “This person is undeserving. Let me not flow to him.” Always understand money is impersonal. The only meaning it has is the meaning you put upon it.
That’s important to understand because it means anyone can amass money. It doesn’t mean everyone will… it just means they can if they follow the rules that govern the acquisition of money.
Too many people want to have large amounts of money but they want to do it without paying attention to the rules that actually bring you money. That’s like the kid sitting in his bedroom day dreaming about being a movie star without ever having to go on an audition.
Many people want to be rich but very few really study what you need to do in order to become rich. The three steps I outline below will put you on the right pathway to creating the wealth you want.
How long it takes is up to your individual effort. Generally speaking if you follow the path below, you will be wealthy within seven years. If that sounds like too long for you then I would suggest you readjust your expectations.
Seven years will pass whether you follow the rules below or not. Why not follow the rules below, and transform your life along the way? Again, the time will pass regardless of what you choose to do.
One last reminder: These rules will work for anyone.
Rule No. 1: Live on (much) less than you earn.
If you consistently keep more than you spend, you’ll have a surplus of money. Simple, right? Aim to live on 40% or less of your income. The less you can live on now, the more money you’ll have available to fund the investments that will build your wealth.
Remember it’s a seven-year plan. You can forgo seven years of pleasures for a lifetime of pleasures.
Rule No. 2: Maximize your ability to earn from your current job.
Your single-biggest source of income is your current job. Most jobs will pay you more money as your skill rises.
So the quickest way to make more money is to improve your skills. Put yourself on a skill development track that will have you becoming world-class at your job.
If you don’t know how to do this… no problem. Here’s what you do…
Offer to take the most successful person at your company out to lunch. You’ll ask this person about their work habits. Acknowledge their success and ask them, “What do you do that’s different from everyone else?”
Don’t interrupt them. Just listen and take notes. By the end of the lunch, you’ll have the beginning of a blueprint you can use to become world-class at your job.
If your current employer doesn’t recognize your improved performance, that’s okay… Find another that will. Be sure to negotiate for more money. And never leave a job without having another one lined up first.
If you’re in a type of job that does not pay more as you develop more skills then you must consider a career change. You want to pick a job where if you excel you can make a lot of money.
That doesn’t have to be a Wall Street job or any type of office job. Some of my richest friends created their wealth from welding and metal work, construction, plumbing, HVAC, and earth moving businesses.
The key is to be in a job or business that will pay you well for being great at it.
Rule No. 3: Create multiple streams of income.
If you’ve nailed the first two rules, congratulations. These first two behaviors put you among a tiny percentage of people. My best guess is less than 3% of the people that live in the developed world live on less than they earn and are on a skill development track to become world class at their job.
Following rule No. 1 and No. 2 of acquiring wealth is the only way to get to Rule No. 3.
Rule No. 3 is how you build your wealth.
This is where you invest in low-risk, income-producing stocks, real estate, or private businesses. Additionally, this is where you can incorporate a “side hustle” for extra income.
Side hustles include – but aren’t limited to – Uber driving, Postmates/Grubhub deliveries, selling crafts on Etsy… buying and selling on eBay, freelance writing, etc.
Once the income from your “safe” low-risk investments starts accumulating, then you put about 5–10% of that income into well-researched high-risk, high-reward plays.
This approach magnified my wealth very quickly, and I was getting wealthier without putting my current lifestyle at risk.
It’s a strategy called asymmetric risk investing. Think of it this way: Symmetrical risk is where you bet $41 to make as much as $41 – at most, a 100% return… Asymmetric risk is where you bet $1 to make $100, $1,000, or even more.
This type of investing allows you to take a small amount of money and greatly amplify it.
You simply reinvest all your surplus capital into low-risk, income-producing investments… then invest some of that “safe” income into high-reward asymmetric bets… and in about seven years, you’ll be rich.
Did you do anything wrong to get this wealth? Did you tread on anybody to create this wealth?
No, and no.
So you can see wealth creation isn’t complicated. But it is difficult. It’s difficult because we’re bombarded with ads to buy stuff every minute of the day. That makes rule No. 1 – live on less than you earn – the toughest to follow.
But without that habit, you can never create wealth that lasts.
Your Chance for Financial Independence
America gave me the opportunity to get everything I value.
That’s why every Independence Day – when I see that flag swaying and hear the national anthem playing in the background – it still brings tears to my eyes.
More importantly, America gave me the opportunity to give back.
Now, I’m not the guy who’s going to ever go on a mission trip feeding kids in Africa… that’s just not my calling.
But I am the guy who will help everyday people change the way they think about money… And change how they go about acquiring wealth.
That’s my gift. And sharing that gift has become my life’s mission.
And that’s why on Thursday at 8 p.m. ET, I’m holding my Third-Trillion Dollar Trade event. During this broadcast, I’ll reveal a $1 trillion trend I believe can pull forward 100 years’ worth of stock market gains in 18 months.
This idea is so big… I’ve even invited a special guest – a man who will be my new partner on this project. He’s from the world of venture capital and promises to help us unlock this whole opportunity – on the spot.
He’s a multimillionaire investor – and former Wall Street VP – who’s been featured in Vice magazine… Playboy magazine… and Fox Business. When it comes to my next Trillion-Dollar Trade, he is by far the smartest man in the room.
Due to the explosive nature of this opportunity, I won’t reveal his identity until Thursday, July 8, at 8 p.m. ET. So mark this date down on your calendar.
Friends, I want to give you the chance to achieve financial independence… And the best way I know how is to share my life-changing ideas with you. I believe my latest one can capture 100 years of stock market gains over the next 18 months.
And even if this idea isn’t for you, so long as you follow my three steps to financial independence… you’ll give yourself the chance to live the life you deserve… not a life you have to settle for.
Let the Game Come to You!
Editor, Palm Beach Daily
P.S. As a bonus for attending Thursday’s event, I’ll give away a never-before-released pick riding with the potential to 10x your money from this $1 trillion trend. You’ll get the name and ticker symbol during the event, no strings attached.
To date, my past free picks have an incredible average peak gain of 1,691%. So you’ll want to come just for that.
Plus, event VIPs get my special bonus report. Click here to learn how to become a VIP for free.