You never see the guy, oh, that guy just lost a 100 million dollars. He’s not on the cover of Inc. So you see one guy that made it. You don’t see the 10,000 that died. I’m saying, most people die, but it’s not very entertaining to talk about it, right? Yes? I think Elon Musk’s story is really interesting. He built this company, sold it for millions of dollars, had a vision, started two companies. Almost lost, or he lost all his money and he was in debt and then he barely. He was close, days form bankruptcy, right? Yeah. But he raised the money. Got together and he’s one of the smartest people on the planet. Yeah, and now he’s sold like a tech. He’s like the next Tea shop. No, Elon Musk. He’s got the Tesla. Do you know that Tesla?
You don’t have a TV? It’s not a bad thing. It’s not a bad thing. So does that make sense? Yes? Okay. Let’s keep going. Warren Buffet said investing in yourself is the best thing that you can do. anything that improves your own talents. Nobody can tax it or take it away from you. You can run up a huge profit and the dollar can become worth far less. You can have all kinds of things happen. But if you’ve got talent, yourself, maximize is a keyword. Maximize your talent, you’ve got a tremendous asset that can return 10 fold. That’s from Buffet. That is from Buffet. That’s why I never, never, over the years, stop improving my high income skills.
It was six-figure and then seven figures. I don’t matter how good my business is doing. How great, my investments are doing, I’m saying, no, I’ve got to work on my skills. Because I don’t know, I don’t know what is going to happen. Yes? What is the next skill you are developing? The next skill I am developing? Okay, very good question. So, I’ll take you through my career, because it gives you a clear picture. The very first high income skill that I developed is copywriting. Which is how to write ads. How to put words in print to sell. And from copywriting I noticed I wasn’t getting client because nobody was buying and I was trying to get the client. So I learned sales, how to sell on the phone. From sales, then I learned how to do marketing.
I was doing marketing with people. And from marketing, copywriting is you’re working with clients. I noticed they don’t just want you to write, craft the words or headline. They kind of need some marketing strategy. Well, how I’m gonna use this stuff? So, evolve, transitioning into marketing, consulting, coaching type of work. From there I evolve into speaking. As you’re asking, well, how do you do some of these things? As a speaker you get paid and that platform is selling. Which is very different. It’s selling from platform, you’re making money, right? From there I also transition into deal-making. Which is kind of what you do now, joint venture and deal-making?
Brokering So these skills I have developed, honed, and still honing over the years. And then managing my money and then investing as well, right? So, you see, over the years, I have this treasure chest. all these tools on my tool belt, that I can call on anytime and I can do it. I can make money with it. Does that make sense? At first you might just have one, but eventually you might have more than one, you might have two or three. That’s a whole bunch, and then you might merge them together. That’s a possibility as well. So I never stop, I never, never stop. Makes sense?
Okay, let’s keep going, So most common investing questions I get. Dan, I got 10K, what should I invest in? I already answered that. Dan, what do you invest in? It doesn’t matter. Because it all depends on what I invest in. Doesn’t mean what you should invest in. If I invest in oil and gold does it mean you should invest in oil and gold? Hell no. It all depends on where you are at the wealth triangle, right? So get a high-income skill, invest in yourself, get training, upper your skills. Should I pay off my debt first or should I invest first? I’m gonna get to that. Should I pay off my debt first or should I invest first? It’s an interesting cartoon. Sure, two percent may not seem like a lot, but it’s compound.
If you invest a thousand dollars now. In just 10 short years, you have, let’s see, $1219. Okay, so compound interest isn’t some magical force. Yeah, I’m just gonna try to make more money. So as you improve your skill sets, you have more income coming in. You can scale your business faster or maybe just put more money into investments. Put more money into investment Conventional wisdom teaches you how to get rich on your current income. Here’s what I believe and I’ll show you the numbers. If you can boost your income to 120,000 a year, 10K a month, you should be able to create million-dollar net worth. Not counting your house or car, in seven to 15 years, assuming you keep your expenses in check.
Keyword, assuming you keep your expenses in check. So you can get to that 10K a month. Even you don’t never, ever, ever have a scalable business. If you keep your expenses in check, you can get to that million-dollar net worth in seven to 15 years. It depends on what you do. Yes? Okay. Hi, this is Dan Lok. Welcome to Dan Lok TV. I want you to subscribe to my YouTube channel.
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