If you are in your 20s, here is the best financial advice to ensure that you build wealth in your 30s and 40s: • Do not rush into marriage. Before making that choice, get to know yourself. The person you marry is the greatest financial decision you will ever make, so make sure it's well-thought-out.

15 books that everyone should read at least once in their lifetime:

• The Psychology of Money

Lessons

• Your experiences shape your financial decision-making.

• Financial success is more determined by how you behave than what you know.

• Effective money management is simple: Earn. Spend less than you earn. Invest. • Think and Grow Rich

Lessons

• Success starts with a burning desire for a specific goal.

• Use positive affirmations and visualization.

• Surround yourself with a mastermind group of people.

I was born poor, but I will make sure that my children and family never experience poverty again.

Here's how you can do it for your family: • Budget

A budget is a tool that gives you control over every dollar you earn.

How to budget:

- Allocate 50% of your income on needs
- 30% on wants
- 20% on savings and debt repayment

If you can't track your expenses, you won't know where your money goes.

15 Incredible Lessons from the Book Eat That Frog: 🐸 Embrace the Frog

Start each day by tackling your most challenging task first.

This "frog" is the one that will have the most significant impact on your life.

Completing it will give you a sense of accomplishment, momentum, and setting the tone for a productive day ahead.

If you are in your 20s, prioritize the following to better position yourself financially in your 40s and 50s: • Start investing early

Building a big nest egg becomes difficult if you do not begin early.

Because you are young, compound interest will benefit you the most.

Reasons to start investing early:

• Age
• Time
• Fewer expenses
• Fewer responsibilities

You are the person who will change your family tree and create financial freedom.

By prioritizing the following for the next 6 months, your family will be transformed for generations to come: • Avoid lifestyle creep

With social media, everyone wants to appear wealthy.

The reality is that many people are deeply in debt.

Concentrate on the important things, live within your means, and invest your money.

Possessions are less important than financial freedom.

If your goal is to build wealth in the next 10 years, here are the steps that you need to take today to accomplish it: • Choose the right spouse

Choosing a good partner is your greatest financial decision.

The wrong spouse will pull you down and lead you to poverty.

A good spouse will hold you accountable for your actions, motivate, push, and support your projects.

Choose wisely.

The financial advice you need to know about to be better than 99% of people: • Avoid lifestyle creep

Society will convince you to possess certain things to be cool.

Do not fall into the trap of overconsumption.

All these big companies spend billions to study you so that you buy their products.

Live simply and build your future.

I came from nothing, but I will ensure that my children have assets and businesses rather than debt.

Here's how you can do the same for your family: • Prioritize buying assets

There is no wealth creation without asset ownership.

The more assets you have in your name, the sooner you will reach financial freedom.

Some assets to consider:

- Real estate
- Index funds
- Stocks

In less than 5 years, my net worth increased from $0 to $500,000.

Here are some changes you can make to drastically increase your net worth: • Change your surroundings

Your surroundings have a great influence on your life.

You think, act, and behave like the people around you.

Be around people who discuss money, business, and personal development.

They will push you to be better and reach your goals.

If you want to accumulate wealth in the next 10 years, follow these simple money rules: • Money is a tool

Money is not a status symbol. It's only a means to an end.

Money's greatest advantage is its ability to give you control over your time.

Use your money to

- Buy assets
- Pay off debt
- Increase savings
- Create a side hustle

I was born poor, but I will make sure that my children and family never experience poverty again.

Here's how you can do it for your family: • Budget

A budget is a tool that gives you control over every dollar you earn.

How to budget:

- Allocate 50% of your income on needs
- 30% on wants
- 20% on savings and debt repayment

You won't know where your money goes if you can't track your expenses.

By the age of 30, you should be familiar with the following personal finance basics: • Index funds

An index fund is a stock or bond portfolio that mimics the composition of a market benchmark, such as the S&P 500.

Advantages of index funds:

- Low risk
- Low cost
- Tax efficient
- Diversification
- Consistent long-term returns

For the next 6 months, invest in yourself this way, and your life will never be the same again in 2025: • Read daily

The more you read, the more you will advance professionally.

Reading helps you:

- Stimulate the brain
- Improve literacy
- Reduce stress
- Increase knowledge
- Enhance focus and concentration

The ability to succeed in life is determined by how much you read.

18 Timeless Lessons from the Book The Psychology of Money: • No One’s Crazy

People's money decisions are justified by taking the information they have at the moment and plugging it into their unique mental model of how the world works.

Origins and upbringing shape money decisions.

We do crazy things with money.

But no one is crazy.

From 18 to 30, here is the best financial advice no one will ever teach you: • Do not buy a new car

A car is a depreciating asset.

Ultimately, you pay more in taxes, fees, and interest.

New cars lose roughly 20% of their value in the first year, while some lose up to 50%.

You should invest your money in assets rather than park it in a garage.

By the age of 30, you must master these financial formulas to be financially better off than 99% of people:

• Cash flow

It shows your savings given your earnings and expenses.

A positive one shows that you live below your means.

A negative shows you spend more than you earn. • The rule of 72

It calculates how long your money will take to double at any given rate of return.

For instance, if your investment has a return of 4%, it will take 18 years for your money to double (72/4 = 18).

Rich parents raise rich children.

Here are some of the lessons that broke parents never teach their children that rich parents do: • Assets vs Liabilities

Poor individuals often fail to recognize that liabilities can deplete their finances without generating any income.

Wealthy people invest in assets that produce income, understanding that all paths to wealth pass through assets.

Microsoft Excel can make you $10,000 a month.

If you have:

1. Wi-Fi
2. A laptop
3. Skills in Microsoft Excel

Here's how you can start a side hustle that will make you wealthy: Side Hustle: Data Entry

Thousands of data entry specialists are making $10,000 a month.

In 2024, you can leverage AI to automate tasks and streamline your workflow.

Here’s how to utilize this new AI tool in spreadsheets and Excel to save both time and money:

10 Lessons From The Almanack of Naval Ravikant: • Wealth

Becoming wealthy is a learnable skill.

Creating wealth is more important than a status symbol.

Money is a tool that you exchange for products and services.

Wealth is created by providing value to society.

Something society needs, but it doesn't know it yet.

If you want to understand and analyze a cash flow statement, read this: The cash flow statement summarizes the cash generated and spent over a specific time (for example, a month, quarter, or year).

It shows an organization’s ability to operate in the short and long term based on the amount of cash flowing into and out of it.