Passive income Plan: Millionaire Starts Again from Scratch! (NO MONEY)

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hi it's mark recently i've been seeing
this question pop up on my instagram post if someone took
everything away from me my business my investments
all my money in the bank would i be able to start from scratch
and become a multi-millionaire again well funnily enough that's the exact
same question i asked richard branson when i was
around his house having lunch well the short answer is the same as his yes i
would be able to achieve it again but what i really think is i'd be able to
achieve it around about half the time or less but of course the interesting part
is not if i think i could do it but it's how
i could go about doing it so here are the three basic rules to this
challenge one i have to do it from a starting date of 2020.
who i go back to being 16 year old and three i keep all my business and invest
in knowledge now the challenge will be to find the fastest way to move from
employee to self-employed to business owner and
finally investor by watching this video all the
way through you'll have access to an exact
roadmap i would personally use to become a millionaire from scratch
in the modern age if you listen and use the information i'm about to share with
you you could be the next millionaire but
the first step along the path is to smash that like button
okay then so we've got to get ourselves into that age pod which is going to make
me 36 years younger i like the sound of that
just imagine a 16 year old me i've just left school with no qualifications i
don't have any money but i do have a dodgy hairstyle to top it all off the
world has experienced a global pandemic causing unemployment to rise to near the
levels of the great depression and the stock market has become so
unpredictable things might not look great at the moment but in my
opinion this new world offers opportunities
more than you might first think especially if you know where to look so
you can keep track of the challenge i'm going to put a counter down here
it's going to track the time and my net worth for every stage in the
video so let's set it to zero and get started where's all my money
gone my first move will be getting the
highest paid job possible now if this is at minimum wage working
from mcdonald's or walmart or anything like that
that'll be fine the aim isn't to be comfortable
that's actually the worst thing it can be when you get paid
just enough to make you comfortable your salary becomes a drug
and that makes you forget all your dreams the only purpose of this job is
to establish an income stream without money it's very
very hard to accomplish anything instead of thinking of it as a drug i
will be using it as fuel to propel me towards my goals my
second move would be to establish a side hustle
or a side job of some sort the pandemic has fast
tracked the digital revolution online shopping is more popular than
ever and the internet is an unbelievable tool for our new entrepreneurs
online marketing would be the number one high income skill that i would want to
learn the best way for me to do that and make
some money on the side will be to set up a drop shipping store drop
shipping is when you take a product from a supplier
market and advertise it online and then get the supplier to ship it directly to
the customer for you allowing you to make a small profit
without even physically touching the item on youtube
drop shipping is advertised as this awesome way to make lots of money
without doing any work you know what that's not really the reality
running a profitable drop shipping store requires you to learn the basics of
business how to run ads on social media how to build a
website how to write in a way that makes people want to buy
graphic design in some cases video editing i'd approach
lots of local businesses and shops and talk to them about the stock they've got
sitting around that they can't sell almost every business has stock it wants
to get rid of and normally this will be you know the end of a line product for
example some it's gone a bit out of date and with all my online marketing
knowledge i'd be in the perfect position to help them so you could say look i'll
tell you what i'll give you 50 of what i sell it for
now if that's in cash any business owner is going to be very
happy it's a win-win situation i'm a big fan of learning while you're
earning so this is where i would take a real step back here and take a deep
breath before taking on the hurdle so many people fall at and that's
lifestyle inflation this is when people increase the amount
that they're spending on their lifestyle as their income increases maybe to
impress their friends or they see it as rewarding themselves
they end up living a lifestyle that's paycheck to paycheck even on a good
income to avoid this i would create a budget
and stick to it religiously i need to have enough money to do three
extremely important things one i'll build myself an emergency fund
this is a savings account with three to five months of living expenses to be
used if something unexpected comes up and that'll help me
stay out of debt two invest in a pension account every
year without fail three open a vanguard
account and start consistently investing in
low-cost index funds like the s p 500 i mean this is a collection of top 500
companies in the usa you can't go wrong by owning a part of all of them the
money will grow with the usa economy which term has always increased and by
starting at such a young age i would be able to take advantage of
compound interest and if you're familiar with the snowball
effect you already know that something can build upon itself
my third move would be building a strong network of connections
this means cutting off the people that are holding me back and making friends
with people that are going to push me forward
an important part of this would be finding new mentors to help
guide me their insights would be extremely valuable
as they're able to see my situation from a different perspective
i could bounce various ideas off them and hear their opinions
now i'll do this by using social media to grow my personal brand
and documenting my journey everyone is online now and i want to take advantage
of that attention and publish as much content as possible this is the
fastest way to expand your network and attract
like-minded people when people feel a personal connection towards you
then it opens up many many doors even more than you could imagine
my fourth move would happen the day i turned 18 it would be getting a credit
card in my opinion this is one of the best
things you can ever do as long as you use it correctly a credit
card has so many benefits including protection on purchases
points you can use for free travel cash back and most importantly
building your credit score the younger i'm able to start building my credit
score the better because it means in the future that when
i'm ready to invest in property and things like that
i'll have better access to better loans but be warned
credit cards are like fire they keep you warm
but they can burn you depending on how you use them so only ever buy the things
that you would be buying anyway like gas or groceries i would
make sure to pay them off in full at the end of every month in order to
avoid paying any interest or late fees move number five will be asking you to
smash that thumbs up button and ring that bell if you haven't already done it
it really helps youtube show my videos to new people
my fifth move is when things really start coming together
i would use the money the skills the connections i had built
during all of this startup time and then i'll make a scalable business
once i'd identified a gap in the market most likely within an online
or a software niche as soon as the business shows promising science i would
go full throttle at it and grow it as fast as
possible there is no point in growing slowly
as my competitors would be catching up to me and every day i wasn't selling to
as many customers as possible i'd be effectively just losing money i
would reinvest as much of the profit as possible
back into my business the main aim would be setting it up in a way
that's not reliant on me and my time i'd also want to make sure that there were
multiple income streams within the business in case for any
reason that one of them was cut off once my business was able to support itself
and it was making money on almost autopilot it would be time for my sixth
move diversify and focus on my personal
portfolio 50 of my portfolio would consist of real
estate as rental properties can generate income
all year round i'd make sure to take into account the
school links income level of the area and also if it's an
up and coming area the rental income is great and it will pay off your mortgage
but the increase in the value of the property generally is fantastic
if you buy right the wealthiest people nowadays collect
property the way they used to collect classic cars interest rates are low
prices are falling and you don't have to tie up a lot of cash in the investment
and with apps like airbnb i could also consider short-term renting
25 of my portfolio would be in low-cost index fund like the s p
500 as this will allow me to be growing my wealth
with the stock market pension accounts would make up 10
i always think the word pension sounds like old age old
and i think that's the reason why it puts a lot of young people off
doing a pension the truth is the word may be old but they're one of the
best and most tax efficient long-term investments you're likely to ever make
12 percent will consist of investing my money into businesses
seeking investment this would be you know a lot like dragon's den or shark
tank in return for a percentage of their
business i'd be offering my money mentoring and connections i would use
two and a half percent of my portfolio to
dabble in individual stocks this is money that i can afford to lose so
i can have a bit of fun with it maybe purchasing a bit of tesla
a bit of apple who knows but you can just have a little plate
and you never know where it's going to take you i'd reserve half a percent for
the most risky investments such as crypto currencies now you've got to be
careful here you've got to do an established brand like bitcoin
although i wouldn't recommend this to anyone that doesn't already have a
strong investment portfolio established and can
afford to take the risk i'm opening myself up a little bit to
the possibility of reward without worrying about any losses if
cryptocurrencies see another boom like the last 10 years then i want to make
sure i get my fair share if you like this video then
you're going to love this next one i'm going to leave it right here for you but
don't click on it just yet if you like the video drop a like on it
for me and subscribe to the channel and ring that old bell if you want to grow
your wealth okay so you can click on it now i'll see
you over there

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