Young Millionaire Reveals How to Generate Wealth from Scratch

[00:01] poor family, you'll end up being poor for the rest of your life. It's sad and sounds a bit harsh, people have managed to prove that it's not your fault if you're born poor, it is your in this guide I'm going to teach you how to become a millionaire starting from

[00:15] scratch, and the step-by-step process of what you have to do to get your first consist of four exact steps that you must master in the correct order, and someone who doesn't have more than $10,000 in their bank account or for someone

[00:29] happy with it and wants to change for a better life. Step one: employment. That's one of the most important parts. Sometimes it's easier, sometimes many people, when they enter this phase, don't leave it and stay

[00:43] human beings have the capacity to support their families. That's a blessing. If you have a job, even if it be grateful for your job because there are hundreds of thousands of people in the world—I would

[00:56] dare say millions— who are unemployed and at least to eat. So if you have a job, be grateful, and you're already at level one. This job will be the foundation for your first million

[01:09] dollars. Many people would sit here and, based on their own reality, which is already invest your money to become a millionaire. But that's very superficial advice, and I'll try to put myself in your shoes when I was cleaning furniture for $3 a day. What would I have

[01:21] done? The first thing is employment, but let's be realistic: most jobs in Spanish-speaking countries are temporary and don't pay for the time spent on the this, it's difficult to earn much money. I'm going to call two

[01:34] Dominican Republic right now to ask them how much their their employees earn. Hello, hi José, how are you? We're fine. How are you? I have a question for you. I'm

[01:48] here making a video. How much money do your employees earn? Tell me three positions in your company and tell me how much. How much do those three positions earn? Well, in dollars, yes, in dollars. Well, the driver earns $ 356 a month. The

[02:06] 356 a month. The warehouse worker earns $300 a month. Okay, and the porters are at $245 a month. That is, $

[02:22] minimum wage. Perfect. And that includes, I suppose, insurance and everything else. They have their health insurance, they pay the Infotec, which is like a tax for the

[02:34] like a tax for the school. Okay, and their school. Okay, and their vacation week, their internship, all of that. Perfect. Well, vacation week, their internship, all of that. Perfect. Well, thank you very much. No, that's fine. Thank you. Take care.

[02:46] That was the first person, and an average of the positions in their business, let's say $300. Now I'm going to call another person to get the same information. Hello, Gabriel. How are you? I'm

[03:04] was calling because I'm making a video and I wanted to ask you how much money two of your employees earn. Tell me two positions and how much they earn. Well,

[03:16] the highest position that I... The assistant earns 600. Okay, and that messenger earns 0. Perfect, ready, Gabriel. Thank you very much.

[03:31] 0. Perfect, ready, Gabriel. Thank you very much. Okay, I appreciate it. Well, a hug. Bye. Well, this second person paid a salary of $600 and their other employee $300, which would make an average of approximately $450. If we combine both

[03:45] averages, we'll close at an average of $400. $400 would be something normal; it's what a Dominican Republic, Colombia, Ecuador, and many other Latin American countries would earn. They would have this average salary, some less, some more, but I wanted to give a

[03:59] real example so you can see how much an employee can earn and that it stays in that range between $200 and $300. It could reach up to $1,000 depending on the position, but positions of $1,000, $1,500, or $2,000, I know, are very difficult to get.

[04:12] Maybe they'll ask you to be a professional or have studied a degree, and I know that not confirming this information, we can say that now you have a salary, you got a job, you earned $300 or $400 a month It's not too much, and it's very

[04:25] dependent on that one job. But what you're going to do is pay your expenses and save 100% of what's left. Basically, you're going to pay the electricity bill, everything you have to pay, and whatever little or much is left over, you're

[04:39] going to save. This is if you want to be a millionaire. And yes, you're going to have to make out. You're going to have to do things that not everyone does to get going to ask you to sacrifice and save everything that's

[04:52] left over after covering your living expenses. You're not going to stop eating or stop living, but you are going to try to save everything you have left over after paying your expenses saving to move on to phase two: high-value skills. We're

[05:07] going to call phase two high-value skills. In those jobs we saw earlier, like assistant or messenger/delivery person, the people who have the ability to do them, just like anyone can.

[05:20] people looking for jobs. An 18-year-old, a 30-year-old, or a 45-year-old could do the same job. They only but many people could perform

[05:34] jobs don't require too much mental effort; they only require performing them effectively. As long as you that everyone else does, you'll keep earning like everyone else. If you

[05:46] study accounting, you might face a job market with the rest? You can differentiate yourself and earn a lot of money based on that require a lot of effort, and the probability of

[06:00] very low because very few have become millionaires with that skill, since there are many people doing the same thing. That's why all the money will be invested in learning a high-value skill because we've

[06:15] low-value skill, you won't get anywhere. To become a millionaire, you need to create and with that enough money to create a second activity. This second activity has to

[06:28] be valuable so you can replace the first one. With your first become a millionaire, but you can save some money. And with that little invest it in learning a more difficult skill. A high-

[06:42] value skill means a skill that is valued in the market with a higher cost or price, so people are willing to pay you more for your for the effort you're putting in, for the skill itself, and not so much for

[06:55] paid for the hours you work. With a high-value skill, you can charge a higher rate for the hours you work, or you can also charge because life easier for other people. In this, we can find entrepreneurship,

[07:09] everyone learns. But the point is, skills that not everyone masters, start because... They consider them high-value skills aren't scarce

[07:22] scarce because they require more than just studying. They require a change in your thinking and a change in your inner self, and nobody is willing to do that. improving as a person, to start changing your thinking, to

[07:35] start improving your decision-making, and to become a more People want to find a magic formula that will generate a lot of when you're learning a high-value skill, a percentage

[07:48] of the time you're investing in that skill will be for the skill itself, but another percentage will be for improving yourself. Because if today want, the car you want, the house you want, it's because you've made bad

[08:01] back to your past, you were the one who made the decision not to study at university, or you made the decision not to invest, or you made the all your money. What you have in your life is the result of a decision you

[08:14] you have to change. You have to learn to change your decision-making, and you'll a high-value skill. In my case, I learned trading. It's a difficult skill that only 5% of people who enter the industry master, and

[08:28] confusion about trading—whether you can learn it or not, what course to buy—there's a lot of information online that can help you get started and example, on this same YouTube channel, I created a course for people like you who might

[08:42] trading is and want to see if they feel comfortable starting it. Just go to my "Learn Trading" playlist. You can watch the videos and say, "Okay, I like this skill, I want to learn it." Keep watching the videos, and you'll see how

[08:54] because it's on YouTube, but it's not. It will require many hours practice, and doing exactly everything I'm telling you in all the videos, and that will take you a... Time, and if it were easy everyone would do it,

[09:08] but since it's not easy, you know it's going to require more effort, but with more effort comes a greater return. And that brings us to phase number three: once we learn learn how to manage the investment. Once we learn this skill, let's say it

[09:20] takes months or maybe a few short years. Once we master it, skill, but now we need to start mastering the investment. And that's the part talked to the two business owners I called in Latin America, they

[09:33] have employees who earn $300, $4400, $600. What people do salary. A person with a salary of $300 might not have much to spare, but they can develop their life based on

[09:46] that. They can eat sometimes, go out, maybe in a few months they life, they settle down, and they start to feel good based on what they're earning. And more money; the person starts to... They develop their lives based on the $1,000 they

[10:00] 3,000. And as income grows, so do expenses, becoming a cycle of earn more and spend more, earn more and spend more. This isn't inherently bad, but they start using the same cycle they used when they didn't have much money.

[10:14] their first profits, and ultimately their investments don't grow, they end up earning a lot only to spend it all. Their financial habits remain the millionaires. Sadly, many manage to achieve this; many

[10:28] go to university, earn a good salary, climb the career ladder, and year. But at the same time, they end up with more responsibilities and higher expenses. How many bank managers do we see with

[10:41] is barely enough to cover their lifestyle? And despite earning above lifestyle? And despite earning above average—$2,000, $3,000, $5,000—what they earn simply It helps them cover their expenses; they travel occasionally, but they

[10:54] live the same life. Maybe a little better, with greater comforts, that the desire of human beings is to be free and not fall into that trap. And that's where the phrase "many win, but when they win they fall asleep" comes in. When they wake up, they

[11:07] wake up with a loss. They won and felt comfortable, and they fell asleep. They stopped doing what helped them reach that level, and when they wake up after having fallen asleep, they wake up with a loss. "Ah, I lost. I realized I made a mistake and I did

[11:19] And that's the part where you have to triple your level of effort and your level of learning. If you managed to master a high-value skill and started say, a level 10 mindset. Therefore, your results will be level 10.

[11:32] But now, to reach level 12, you have to have a level 12 mindset. And it becomes more difficult because now we're in the constant battle of: "I'm making money I'm earning, and since money is infinite, I never

[11:46] where fatigue makes us stop and think we're is a little afraid of losing everything we've achieved. That's why now triple our focus because we're earning a little money, but that won't be

[12:01] millionaire. I know that many of you do n't want to be millionaires for the millionaires just to have a lot of money in their bank account. Human beings want to be money offers. You want the experience in the car, you want the experience of

[12:16] traveling, and sadly, that experience requires money. And saying "I'm a seven figures, that I have a lot of money in my bank account, or at least want to have because traveling isn't cheap, staying in a luxury hotel isn't cheap,

[12:30] isn't cheap either, and I want to have those kinds of experiences because I've seen them thanks to social media. I see that TikTok of a very happy couple and I wonder when the day will come that I'll go there, or if I'll only ever see it in videos. That's why I

[12:44] want to be a millionaire. In this third phase, it's possible that a bad decision can send you back to the first phase. I've known many people who, when things start going well for them and they change their salary, and after earning $300 or $400,

[12:57] go on to earn $3,000, $4,000, $5,000, or $100,000, make the mistake of getting complacent and going backward. They make bad financial decisions, they don't know how to manage their put in to get to that point, and in the end, they fall asleep and wake up with

[13:10] a loss. That's why the third phase is n't about doing something different; it's about because you've already developed the high-value skill, which is the difficult part. That third phase, you're going to triple the effort you put in to develop that

[13:24] get to the fourth phase: managing the Money. At this stage, you've already mastered the skill, you're already making a lot of money, you've already grown internally. time to pass and for you to keep doing the same thing so that you become a millionaire. And here you can

[13:38] n't have millions in your bank account, you're taking the right place. The result is inevitable. But now you have to make one of the made at the time without realizing which one I had chosen, but then I was able to correct my

[13:53] mistake. I'm giving you two options; it's like the Matrix movie, the red and the blue. The two options are: I want to be a millionaire and have many millions and continue growing my wealth, or I want to be rich. And I'm going to give you a step-by-

[14:05] step guide for both options so that, based on your decision, you know what you're going to do. you chose option number one and you want to be a millionaire, congratulations! It's an you have to do because I already am. What you have to do is continue

[14:18] value skill you already have, but now go to other areas. Start investing your active investments where your participation and experience can This allows you to focus on something else and

[14:33] multimillionaires, and all my multimillionaire friends, have several businesses. They they begin to build another, and another, and another, putting their energy into

[14:46] create several income streams or businesses that pay for their luxuries, their lifestyle, and everything they desire. They create several active income streams that, in a sense, require their attention

[14:59] lot of money. You'll earn more money; the only downside is that you'll divide your on many things, and you'll have to dedicate a lot of time to the work. But you'll earn more money and become even wealthier. Then we have option

[15:13] number two, which is being rich. Being rich means not needing the life you want. You want to live without needing anything else. To achieve this, you have to keep developing that high-value skill. Become the best at that

[15:26] with it. Focus solely on that skill, dedicating With the money you earn from that skill, start looking for passive investments— investments that don't require your

[15:39] continue generating income. Obviously, these passive investments won't active investments because they'll give you smaller returns, perhaps a little obviously less money. They won't require your attention; you won't have to be constantly monitoring them. They'll

[15:54] flow, build, and grow over time, an active investment. But why am I giving you two options after giving you 've also known, both types of people: those who are multimillionaires

[16:08] lot of fun, and enjoying money is human being can do while they're alive. Both options are great; I'm not But now it's up to you to decide. Do you want to make a lot of money, accumulate

[16:22] multimillionaire, who knows, maybe even a billionaire, and buy everything you can in this life? Work hard, strive immensely, and become a productivity machine, creating money? That 's fun, but you miss out on something that

[16:35] rich people do have because they know how to balance the amount of money they earn with their have friends who have much more money than me, but they have less of a life than I do. They do n't travel, they don't enjoy themselves, they don't go out to eat with their friends, but they have

[16:49] amount of money I have, which is perhaps a little compared to them, I have almost nothing. At one point, I had chosen to be a multimillionaire, to focus on was succeeding. I had made several million, but then I realized it wasn't what

[17:03] made enough money to live the life I money because the more I have, the more I can help, the more I can live, the more I can life, and that's when I made a decision: I'm going to put in a lot of effort to develop

[17:17] do that one high-value skill I developed, and I'm going to become the creates other passive income streams. That's why I invest in real estate, I invest in watches, I invest in things that don't distract me from

[17:32] value skill. This leads us to the conclusion that making a million dollars in 2024 is no longer as complicated as it was 10 or 20 years ago. You just have to be smart in making decisions, have patience, and the final trick, which is where everyone fails,

[17:45] is not to stop. Because the moment we get a little bit of a result, or don't think that This isn't for us; God didn't put us here. It's too difficult, and we can't achieve it. That's

[17:58] where the difference lies between those who succeed and those who don't. By 2024, very simple, and it all depends on you. Use this short guide to create the monetary outcome and the life you live depends on your decisions while you're

[18:12] want, you haven't made the right decisions. But if after watching this start making the decisions you should be making to get the money you want, then you've wasted your time and you're just part of the crowd. Did you like this

[18:27] covering on the channel? Leave me a comment, and I hope this guide dollars. See you in the next video. Bye bye and kisses!