How I Made My First $100,000 (How YOU CAN DO IT) | Summary and Q&A

TL;DR

Learn how to make a hundred thousand dollars a year through job growth, investing in your profession, investing your money, creating external value, and starting your own business.

Key Insights

• 🏛️ Financial education is crucial for understanding how to build wealth and achieve success.
• 👶 Side hustles can supplement income and provide opportunities to explore new business ventures.
• 💗 Investing in real estate or the stock market can generate passive income and grow wealth over time.
• 🥺 Creating external value through specialized skills and services can lead to increased earnings.

Transcript

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Questions & Answers

Q: How did the speaker begin their journey to making a hundred thousand dollars a year?

The speaker started by mowing lawns and delivering newspapers as a child, realizing that traditional jobs wouldn't provide the income they desired. They then discovered their passion for playing a musical instrument at weddings and started charging for it.

Q: What role did financial education play in the speaker's journey to success?

The speaker initially focused on education to become a doctor but realized the time commitment would delay their financial success. They shifted their focus to financial education, reading books like "Rich Dad Poor Dad," which introduced them to the concept of assets and liabilities.

Q: How did the speaker transition from side hustles to investing in real estate?

The speaker used their earnings from side hustles to invest in real estate properties during a period of low prices in the market. They learned about real estate wholesaling and attended seminars to expand their knowledge in the field.

Q: What challenges did the speaker face in building their business?

The speaker experienced setbacks and moments of starting over, such as shutting down businesses they didn't believe in. However, they learned from these experiences and gained valuable insights, contributing to their eventual success.

Summary & Key Takeaways

• The speaker shares their journey of wanting to become successful since childhood and how they discovered different paths to making a hundred thousand dollars a year.

• The speaker highlights the importance of financial education and learning about how money works in order to achieve financial success.

• The speaker discusses their experiences with various side hustles, investing in real estate, and starting a business to reach their income goals.