I’m a 19-year-old college student who is broke. That sounds typical, right? What if I told you that I’m broke by choice? Now, you may be asking yourself, “Why would anyone choose to be broke?” Well, I’ve found that staying broke is the secret to my aggressive wealth-building. I often get asked, How are you able to invest at such a young age?” The answer to that question is I stay broke! Being broke is the temporary absence of money. Most people are broke due to their spending habits. I’m broke due to my investing habits. This type of broke just so happens to appreciate and pay dividends! I’ve gotten used to staying broke and not “having” any money. I have money, it’s just not liquid. To me, there are two different cases of broke. Here is Case 1: “I have no money and am waiting on my next paycheck.” Here is Case 2: “I have money, but it’s just not liquid.” When you hear a wealthy person or celebrity say they’re “broke”, it is typically Case 2. I’m Case 2. I refer to this as “good broke”.
A year ago, I watched this video and it really resonated with me because it is exactly what I do! Regardless of what you think of Grant Cardone, this video does have quite a bit of value. Since I started using this strategy, I’ve reaped the benefits and have watched my net-worth sky rocket. Nobody ever said wealth-building had to be complicated. I find that the simpler things are, the easier they are to stick to. This strategy is exceptionally simple.
I use this exact same wealth-building formula. Why? Simple, because it flat out works! Your target doesn’t need to be $10 million dollars. It can be whatever you want. Adopt this method and I can guarantee you’ll see results! You may be telling yourself, “This won’t work for me.” I say, you don’t want financial freedom bad enough. You have to make sacrifices now so you can have freedom later. If you have freedom now, you’ll have to make sacrifices later. Once you understand that, it really throws the importance of financial freedom into perspective.