I’m 45. If you're in your 20s, 30s or 40s, watch this
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Summary
Most people think getting rich gets harder as you age. That couldn t be farther from the truth. I became a millionaire at 27, went bigger in my 30s, and at 45, I'm still scaling businesses in ways I never imagined. And look, I know what you're thinking: 23 and I'm broke, 35 and I feel super behind. I'm 42 and I think it's just too late for me. But here's the truth: You're not too young, you're NOT too old, and you're definitely not too far behind. You're just playing the wrong level.
Transcript
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Most people think getting rich gets harder as you age.
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I became a millionaire at 27, went bigger in my 30s,
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And I'll show you the next level nobody talks about,
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which in my opinion is the one that matters the most.
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The main advantage that you have is your energy.
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that makes other skills easier to learn or adopt.
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because it teaches you like systems thinking or sales,
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right, because then you're learning about persuasion
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or copywriting, content creation, project management,
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That intensity and focus and obsession for me, writing code,
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that's what's gonna make you incredibly valuable
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And the best part is you can use your five to nine.
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It could be 5 a.m. to 9 a.m. or 5 p.m. to 9 p.m.
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It doesn't matter if you're working a full-time job
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or you're studying, going all in for six months
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step two most people won't agree with me on this is work for free because your parents are going
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to be like oh i don't think you should work for free for this person they don't realize that when
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you start doing something you're not good at it you don't add value so if somebody that has the
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background and experience is willing to give you an internship or an opportunity to learn for free
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take it i did this back when i moved to san francisco i didn't know anybody i didn't have
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a high school friend i just cold emailed a bunch of folks and said here are the three things i'm
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good at technology writing code sales persuasion and marketing really good at marketing and it
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turned out that enough of those emails eventually got responded to and two or three people gave me
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a shot they didn't pay me I didn't need to get paid I showed up being willing to do the work
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without getting paid because I knew it was also going to build my portfolio and that's what most
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people don't think about step three is the price ladder see the mistake that most people make is
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they just say, look, I'll do this for like 50 bucks when normally anybody else would charge
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100. So you can just say that is normally I would charge 100 for this, but you're somebody I really
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admire and I want to do work with. So I'm willing to do that at 50% off. That shows the initiative.
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And then once you do that, every five clients raise your price by 25%. Even when I look at my
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journey, I mean, I was 17 in rehab and I discovered a book on Java program. And what happened is I
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became obsessed with writing code. In many ways, it became my new addiction. And I would stay up
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till two, three in the morning, just writing code. By 21, I was charging $75 an hour for consulting,
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essentially 150,000 a year. It blew my mind that people paid that, but it's because I had so many
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years of experience because I had the skills in the portfolio to prove it. So here's my rule of
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thumb for those in their twenties. Say yes to everything that teaches you something, even if
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it doesn't pay well because you'll get paid on the back end of learning it well. And I get it.
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Maybe you're on the edge and you're scared to start. You're like, I hear what you're saying,
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Dan, but I don't know. What if I fail? Here's what I know. Winners lose more than losers.
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So in this stage, don't be afraid to fail. Use it to fuel your growth. So now that we've tackled
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how you get rich in your 20s, let's move on to our 30s. The main advantage at 30s is strategy.
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You've got things that you've tried and failed. You've created some systems. All of these create
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leverage as you try to get richer. So here are three things that you need to utilize in your
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30s to be able to get rich. Step one, the ATF framework. ATF stands for audit, transfer, fill.
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This is where we look at our time to make sure we're working on the right things. I have a guy
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on my team. He works really hard, but he's not getting near the financial results as the other
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people on the team. The reason why is he doesn't look at his calendar through this lens. See,
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audit is about understanding where are you spending your time and is it producing revenue and is it
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lighting me up things that don't make you money that you hate to do that suck your energy those
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have to get off your plate then we go to transfer transfer is about taking those things and giving
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them to somebody else so this could be outtasking a task from like grocery shopping to running errands
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to cleaning your home those little things you can start in your 30s but it could be as advanced as
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hiring a full-time virtual assistant to help you with your email and your inbox then the last part
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is phil this is about once you've got that time back what do you do to reinvest it to get higher
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leverage so for me it's about things like my habits my belief systems in the world or more
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importantly my character traits if you're easily upset all the time because there's a little
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problem that happens and guess what you'll never get big problems and if you don't have big problems
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you don't have a big life so now that you've audited your time and we have a framework for
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improving your time now we gotta go step two the replacement ladder this for me is looking back on
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my life and saying if i'm trying to get rich and build my team what's the order of hiring that
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makes me the most money for the least amount of cost that buys me back the most time so the first
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hire at the bottom is an executive assistant this is somebody dedicated to understanding your needs
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that can take over 100% of your inbox in your calendar.
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the fulfillment of it. Think about it. If every time you sell something to somebody,
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it creates a bunch of time taken up in your calendar, then you're not going to push as
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hard to sell. So I like to recommend people hire somebody to help with the support
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and the onboarding. You still might do the work, but all those questions and scheduling and all
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that can be done by somebody else. Incredible amounts of value. The third hire is someone
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to market your service. I can't tell you the amount of times I've worked with entrepreneurs
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and then they get busy and then they stop doing marketing.
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And literally it's this feast or famine all the time.
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then you'll create a steady flow of leads and customers.
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The fourth hire is someone to sell your service.
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how could somebody possibly do this for me trust me i used to think that till i hired a guy named
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michael and on the first day michael sold better than me and when i asked him how the heck did you
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do that he goes hey dan i think it actually makes you look like a real business if i'm selling you
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instead of you selling yourself because that's kind of why they're coming to you and i was like
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oh interesting now think about this four hires and you could be on vacation somebody else will
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will create the opportunity, somebody will bring them into your world, and somebody else will bring
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them on board in your business without you being involved. That is freedom. So once you implement
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the replacement ladder, step three to get rich in your 30s is focus on one thing. This is going to
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break some people's hearts, but we have to pick one business model. See, focus stands for follow
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one course until successful. Most people fail in their business because they can't focus. When you
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pick one business model, one niche, one target customer, then you become lethal because all the
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energy, all your creativity, all your focus goes down on that one strategy. But it's scary. And
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I'm going to encourage you to say no to everything else for three years minimum. I know. What if I
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get an opportunity to invest in the next Facebook, Dan? What if my cousin comes to me with a sure
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thing? When you say no to something else, you're saying yes to your goals. So the rule of thumb
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for your 30s is stop trading time for money and start building systems that make money without
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you. Essentially, build the machine that let the people run the machine. That's how you let your
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money make you money. Level three, your 40s. See, the main advantage is experience, also known as
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the gray hair advantage. My designer, Rich, said, hey, man, you look like that guy in Spider-Man
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that manages the newspaper. But guess what? The greater my hair gets, the smarter I sound.
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This is where you can actually make the most money
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you have the resource, you have the experience,
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you have the relationships, you have the pattern recognition.
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See, there's three ways that I recommend doing this.
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So 70% of what you know from a portfolio approach
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if I build homes, maybe I should invest in multi-unit.
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just going to make you rich. So that's 70% of what you know. 20% is into adjacent opportunities.
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For me, that's technology. Like I angel invest in a lot of things like 3D printing and drone.
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And then the 10%, those are the moonshots. Those are, you know, these crazy ideas. One of my
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friends is building this massive restaurant franchise. I love it. Brasa. So awesome. We
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eat there all the time. Or another friend of mine is doing laundry sauce, which is a company that's
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like trying to bring a millennial approach to laundry detergent. Crazy stuff that could be
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massive, but it's not my core competency. The second area is become a mentor investor. Now I
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kind of touched on this, but let me really dig in. Think about it. If you're in your 40s, now you got
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to find some other people that are in their 20s that are willing to learn the skills that are
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going to grow and you can mentor them. So finding three to five other entrepreneurs in your space
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who are two or three years into the thing that you have experience and you can support them on,
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but more important, they probably need experience.
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See, too many people live a life that's unexamined.
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I've been sharing everything I've learned for about seven.
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became the tools that I could share with other people
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What makes you valuable in your 40s is the experience
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to come into a situation and see in 30 minutes,
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can do to change to 10x their growth because you've seen it so many times before but as a rule of thumb
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in your 40s let your money work harder than you ever did your job is strategy not execution at
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this point a lot of people go but what about after your 40s what then well here's how many of my
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mentors have gone about it and how i plan and already am doing it too the final level your
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legacy years here's what nobody tells you about getting rich there's actually a level beyond the
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money this is where you use your money and your success your relationships everything you've learned
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as a tool for impact not accumulation that's why it's another level it's understanding that
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when you decide to teach everything you've ever learned to the next generation then you'll feel
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fulfilled it's why for me i do a lot of things i run a program called king's club in my community
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that are 15 to 21 that want to show up and be better.
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I go and I visit troubled youth at crisis centers.
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for other people because people were that for me.
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it's about making others rich in more ways than one.
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It's about becoming the person along the journey.
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When I say the world will show you where you're not free,
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being paid with money to improve your quality of life,
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to get to a place where what you've done is so impressive
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So now that you know this, I want you to ask yourself,
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am i really world-class at what i do have i found ways to leverage that within my existing business
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with my team have i found people i can partner with to create more without having to work harder
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and most importantly have i even considered that maybe sharing myself with the world
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is actually what it's all about and if you're motivated by that and you want to learn the
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exact system i use to buy back 40 plus hours a week so you can focus on getting rich click here