Introduction
In a video released earlier today by Coin Bureau, hosted by Guy Turner, viewers are offered a comprehensive guide on how to get rich. The video emphasizes that while becoming wealthy is not easy, it is achievable. Guy Turner shares insights he has gained from spending time with wealthy individuals, outlining a 10-step plan to guide viewers toward financial freedom.
Understanding Wealth
The first step in this guide is to understand what being rich means. According to Guy, being rich is not just about having a lot of money; it’s also about having time and the freedom to spend your money as you wish. He distinguishes between “money” and “currency,” pointing out that while most people are paid in currency, its value is constantly declining due to inflation. Therefore, he believes that one should aim to accumulate “money” in the form of assets that hold their value over time.
The Mechanics of Money
Understanding how money works is crucial. Guy explains that the financial system has been rigged since the 1970s when currencies were detached from the gold standard. This has led to the devaluation of currencies, making it essential to think in terms of “money” rather than “currency” when planning for wealth.
Skill and Experience
To maximize your earnings, Guy advises improving your skills, gaining experience, and expanding your network. He also suggests considering contract work as it can offer tax benefits and potentially higher earnings.
Informed Investing
Investing wisely is another key step, according to Guy, who recommends diversifying your investments globally and focusing on assets that can either hold their value or generate more currency. He emphasizes the importance of self-custody of assets to truly own them.
Master Your Craft
Guy claims that becoming exceptionally good at what you do is vital. He argues that most people lack the drive to improve, which makes it easier for those who are willing to invest time and effort to excel.
Target Growth Industries
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Guy advises focusing on industries that are expected to grow in the coming years. He mentions the crypto industry and 3D printing as examples of sectors where one can quickly become an expert and earn well.
Join or Start a Startup
Guy says that once you’ve made industry connections, the next step is to either start your own venture or join a startup since startups often offer higher pay and the opportunity to have a stake in the company.
Achieving Escape Velocity
He also mentions that escape velocity is the point where you’ve accumulated enough wealth to achieve true financial freedom. Guy suggests two ways to reach this stage: selling your company or taking it public via an IPO.
Maintaining Wealth
Staying rich is the most challenging step, according to Guy. He warns against the pressures to overspend and advises being vigilant about potential changes in tax laws and regulations.
Enjoy the Journey
The Coin Bureau host finishes by saying the final step is to enjoy the journey toward financial freedom. Guy reminds viewers that the ultimate goal is to have more time to do the things you enjoy with the people you love.
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Of course, as usual, none of the recommendations in this article or any others on the site should be considered financial or investment advice and everyone should do their own research and due diligence on any potential investments.
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- Source: https://www.cryptoglobe.com/latest/2023/10/coin-bureaus-10-steps-to-wealth-generation/
