I FILED BANKRUPTCY!
Alpha was 31 years old, his business had just failed, and he was $500K in debt. He was driving a beer cart, and he had to file bankruptcy. It was a low point in his life, being broke. In this video men’s style, grooming, fitness, and lifestyle expert, Aaron Marino of IAmAlphaM https://iamalpham.com/ AaronMarino https://aaronmarino.com/ Pete & Pedro https://peteandpedro.com/ Tiege Hanley https://www.tiege.com/and ENEMY https://enemy.com/ said he learned valuable lessons when he cleared his debt. He learned the hard way, but you can learn from him. It’s all about killin’ it in the future, so it’s critical to do what you need to do NOW. Pay your debt down now so you can make yourself rich as opposed to somebody else.
How to financially KILL IT in the future!
- Pay down your debt — debt robs you of joy. Be debt-free! There is nothing sweeter, according to Alpha.
- Set a budget and live below your means — know what you are spending on a monthly basis, and live rock bottom below your means (especially in lodging and transportation).
- Do not have all of your eggs in one basket — diversification is key! Look for multiple streams of income.
- Start investing NOW — do not wait. The earlier you start (putting your money to work), the freer you’ll be in the future. Grow your wealth from the extra money you saved in #2. If you have $500, you can open an account and invest. Check out Wealthfront — it’s easy, and they don’t charge you a ton of fees. They have globally diversified portfolios, and their software fosters a ‘set it and forget it’ approach based on your risk tolerance.
- Have F-You Money — it’s freedom! Alpha worried about money his whole life, but once he had $5K (which was his F-You Money), which allowed him not to think about money anymore.
- You don’t NEED everything you WANT — in the age of social media, you have to understand that this ‘stuff’ is not necessary to be happy. Also, that initial rush from buying stuff doesn’t last long — it creates a cycle of purchasing more ‘stuff’. It’s all about delay gratification — hold back the urge to spend on the latest and greatest. If you do, you will be so much better off! It’s all about financial freedom.
- Having ‘enough’ money can give you peace of mind — one of the best things you can do for your mentality & confidence is having money and being smart with it. Don’t waste it, don’t blow it, and don’t have a lot of debt.