How to build wealth in your 30s? I think this is absolutely pivotal. This is your decade, where you’ve kind of played around and figured out what the heck you might want to do. This is your decade to put away as much money, as you can generate. Now, a lot of people say that’s in your 40s, but I want to give you an extra 10 years to compound that power. Right now we are sitting on some of the greatest new assets called cryptocurrency. We have NFTs, we’ve got cannabis, real estate’s on fire. Why wouldn’t you make as much, as you can and get investing to build that wealth? So, let’s get started.
Let’s talk about what’s on the internet? What does the internet say? What does just the traditional financial institute say? I kind of giggle at it but we’re going to talk about it and then let’s talk about some cool investments some things that, I know, you can do right now. I can’t give you advice, remember, I’m an educator, not an advisor. But I’m going to talk about some of the things that I do. Some of our clients in their 30s do and how do you get started. As Glenn Morshower would say: “You know today would be the best day”.
What does the internet say? What do financial institutes say about how to build wealth in your 30s? So, they would say things like keeping your house payment under 25% of your take-home pay. Move as little as possible. They would say to drive modest dependable cars. They would say don’t buy new. I’d have to agree with that one thing. Don’t worry about what other people think. I do have to agree with that I don’t really care what anyone thinks. Be ready for windfalls. Maybe mom and dad die. Maybe your neighbor dies. I don’t know that’s an interesting one.
Focus on your future absolutely. I would say focus on now. What I’m going to say over all of that is how about we just start making some more money. So, if you have a job that’s fine. To live the life of being a wealth builder, you have to live corporate life. In fact, I’ve done a lot of trending and conversation this year about nothing control at all. That means inside of a company. So, it’s a side hustle. If you want to know more about that, go up to my search bar.
I have a ton of stuff about the side hustle and when you switch, and how to quit your job. In your 30s, it’s time to be an entrepreneur. If you’re not already and you have to do it inside an LLC. That’s a corporate corp in the United States. You put it in corporate structure because then you get a tap the largest tax code in the world. 81,000 pages of tax code. Being an entrepreneur and with all that extra money, I would say not like the internet says.
I would say take all of that extra money and invest it. That’s how you start an amazing amount of compounding power of money. What I want you to do though is that I kind of agree. I don’t like the words modestly. Take your W-2 income for those of you, who have one and just live on that. If you just lived on that regardless of how you spend that money. Took all your entrepreneur money and started putting it into real estate, iFlip, which is software. In fact, I’m going to give you a link to our iFlip software in the notes below. It takes you out of the market. We’ve had a rock and roll market. When it rocks and rolls and you lose 30 percent, I lose about 2 to 3 percent. So, then I don’t have to start at the same place. Yeah, I just start at the low and I keep going up. You have to recover.
So, why are you choosing to do that and keep your money parked in a financial institute? I call it parking and praying. You park your money, you pray to God. Somebody’s going to care more about it than you do. They don’t. They get fees. They get a big salary as long as they’re doing their little. You know their algorithm on your money. You aren’t the winner. They are. So, take control and get financially illiterate in your 30s. In fact, I say your whole life. If you’re just seeing this video now it’s time to begin. Become an entrepreneur number one and live on your W-2. If you’re already an entrepreneur it’s time to ramp up that revenue. If you’ve been making in under a hundred thousand, I have a guaranteed process to get you over a hundred. Take you to 200,000. So, now you’re accredited.
You gotta get in the game. Have to get in the game. So, if you’re an entrepreneur listening let’s talk a little bit just here. Then again I want you to go out and search for a real longer video and information about a side hustle. A hustle is when you’re going for that six figures. At that point, you really do need to consider quitting your job and totally going for it. How do you really ramp up your business? Because those of you that are listening and you’re an entrepreneur and you’re in your 30s and you already are making six figures. Marketing sales and managing cash flow is going to take you from six figures to seven figures. That is ramping up your database. That’s through all social channels. I have a marketplace. I’m gonna give you some tickets at the end of this video.
How do you make money? How do you get a better team and better systems to start scaling? Some of you have businesses. You honestly. Maybe this is your cash-out year. I have clients in their 30s. They’ve cashed out. They’ve sold their companies for several million. I have one client that sold their business for 5 million, 7 million, another for 24 million. I’ve sold companies for 21 million. It’s time to ramp up that revenue and put it to work in great assets.
So, you’re going to need some money rules. Let’s talk about how you start investing. I think that a lot of 30-year-olds. If you don’t have kids that haven’t started the whole family program. You’re doing usually big lifestyle stuff. You’re not putting enough money away and you’re not putting it into diverse assets. So, money rules are something to talk about. Think about is what do you want your investment portfolio to look like? Alright, so you could do iFlip which I talked about. You have cryptocurrencies, so be careful. There are a lot of risks if you don’t know how to be in that. I’ve had a lot of people lose a lot of money but I’ve had a lot of people actually become millionaires last year. I had somebody do almost 4 million in digital currencies but didn’t get any advice on the tax side. Now has a tax burden. So, you have to be careful and be very conversational. That’s what I would say. That’s why we have a «live out loud» as one of our slogans. Because you want to live out loud talk about what you’re doing.
Talk about your strategies. Let us that have been there done it help you. Verify that your strategies are going to work. There are some likes to it. Get into real estate right some of you. Now, in the internet version, it said to not move as much. I have a lot of clients in their 30s who don’t have kids. So, a strategy for a lot of real estate folks is to take advantage of the tax strategy as a couple or an individual. As an individual, you can move as much as you want. Every 2 years, if you bought a fixer-upper, fix it up. Sold it in two years.
You can take up to 250,000 in profits without paying any capital gains tax and move it to the next house. Then you go again, fix that one. Up 2 years later, sell that take another quarter million. So, within a 10-year span, you could move five times. This is why I don’t agree with the internet. You could move five times that’s 1.25 million dollars of tax-free money. If you’re a couple you can move a half-million dollars. So, why wouldn’t you pick up and move every 2 years for a while? Get a fixer-upper and sell it. Again, a couple gets a half-million, move to the next, do it again and do it again and do it again. That’s one point. What are that five times? 2.5 million dollars. Are you kidding the internet says not to move? I would say, if you’re up for it and you want to be out and move around, I’d move as much as you can. That’s a lot of money that you don’t have to earn. You earn it through the house and you move it forward. Huge wealth-building strategy. I use my real estate folks.
So, I have many… more of these strategies. If you think, I’m just getting on a roll. I have so many strategies to help you wealth build in your 30s. I was a millionaire at 34, that’s why I’m so passionate about the 30s. I’m going to tell you a story about how I did some of that. But before we do that, I want you to subscribe to my channel. I want you to click on that little bell. So, every morning you get up, there’ll be a notification and we start a five-day-a-week financial literacy journey together. I want you here on my YouTube channel. I also have an amazing podcast. I want you to start sharing this with your community. Those of you, who really want to binge-watch, get in here and binge-watch. We have playlists.
Getting financially illiterate is a goal this year. So, on my journey in my 20s, I met Robert Kiyosaki and Sharon Lechter. I became the master distributor of the cash flow game and from 1996 to 2000I worked with that organization. I sold their game, I sold their products. So, those of you who are thinking, “Oh gosh, I have a job. How am I going to have an entrepreneurial venture?”. Do what’s easy for you. I’m not going to say do what you love. I’m not that person, I don’t. If you don’t love what you do, but it’s making you money, you know how to do it. Do what you know how to do. That’s easy.
We have a lot of work to do out here to teach you to be a darn good entrepreneur, then a wealth builder, how to invest that money you make. Because I can promise you the pattern of being a wealth builder. I don’t care what decade it is. You have to make it, invest it. Most of you are learning improperly. It was just inherited behavior, you make spend, make spend, make spend. You make just enough to spend and create the lifestyle that you want. I want you to wash all that and say what do you really want for your life. I want you to make and invest in designing the life you want. In your 30s, there’s no better time to do it.
So, I was a millionaire at 34 years old, I did in real estate. I was not a planned parent. So, on January 8th I found out I was going to have a child. So, I called the mentor, whom I was resisting paying $25,000, I paid it. Within days I was in Oklahoma City, he taught me how to raise capital. How to buy real estate within six months? I was a real estate millionaire about right around my 34th birthday and then had my son Logan in September that year.