Lecture Notes: Seven Millionaire Skills

Introduction

• Key Point: Income and wealth reflect personal life.
• Objective: Learn seven millionaire skills to achieve financial success.
• Background: Some skills helped the speaker make a million by age 18.

Skill #1: Stop Watching the News

• Key Reasons:
  • Consumes time needed to focus on personal goals.
  • Limited ability to affect world changes without money or platform.
  • Accepting self-change precedes world change.
  • News often lacks trustworthiness and journalistic integrity.
• Conclusion: Avoid news to remain focused and unaffected by external negativity.

Skill #2: Learn High Income Skills

• Definition: High income skills are critical to earning substantial income.
• Strategy:
  • Learn multiple skills and stack them.
  • Evaluate if a skill offers long-term financial benefits.
• Examples: Online marketing, coding, content creation, sales.
• Resource: Money Making Matrix video for evaluating business models.

Skill #3: Learn to Say No

• Importance: Maintain focus and avoid distractions.
• Application:
  • Say no to unnecessary social activities and favors.
  • Prioritize opportunities that align with personal growth.

Skill #4: Travel, But Travel Less

• Purpose: Gain productivity from new environments.
• Advice:
  • Avoid frequent traveling, which induces instability.
  • Choose cost-effective travel destinations.
  • Beware of locations like Bali that can hinder productivity.

Skill #5: Start Investing Today

• Goal: Sustain and multiply wealth.
• Reality Check: Millionaire lifestyle requires more than just initial million.
• Investment Strategies:
  • Generate passive income through diverse investments (stocks, crypto, etc.).
  • Practice saving and investing consistently, regardless of income size.

Skill #6: Get a Good Tailor

• Rationale: Look better without spending excessively on brands.
• Strategy:
  • Purchase affordable high-quality basics and have them tailored.
  • Avoid unnecessary spending on designer brands.

Skill #7: Use Credit Cards and Get Rewards

• Benefit: Significant savings and quality of life improvements.
• Recommendations:
  • Utilize loyalty programs and credit card rewards responsibly.
  • Ensure timely payment to avoid debt.
• Example: Speaker's experience with Amex and travel upgrades.

Conclusion

• Outcome: These skills aid in making, keeping, and multiplying wealth.
• Engagement: Encourage sharing of additional millionaire skills in comments.