Note: We use AI transcription so there may be some inaccuracies
Anne-Lyse Wealth: This is the Dreamers podcast, episode one 11. Today is February 28th, 2023. it's not just a matter of earning more and then being victim to lifestyle creep. You have to earn more. But then you also have to have the discipline to invest that money, I'm a fan of diversifying your, investment. So don't just invest in one place.
Anne-Lyse Wealth: But to start, maybe you can only start with one place. So, Start with the stock market or start with real estate investing. Do all of the above, but it's important to invest Hello dreamers. Welcome to the Dreamers podcast. I'm your host Anise Wealth, and I'm so excited that you've decided to tune in today for another episode of the show. Today we are going to talk about five things that you can do to 10 x your income and your wealth. All right, let's get into it.
So number one, expand your network. Exposure plays a huge role in what you see as possible for yourself. And also having a network helps you have access to mentors who have done what you're trying to do, who can inspire. You to do more, to be more And it can also help you get accountability partners.
I remember talking to Millionaire Mentor Cedric Nash. if you wanna check out the episode with Cedric Nash, that's episode 1 0 7 when he talks about four millionaire mentors who have. his views about money, about wealth early on in life when he was a young man.
And, prior to meeting those mentors, Cedric had no idea what wealth looked like. He didn't know that it was possible for him, but being able to be around those people Having those mentors in his life made him want to start doing things differently that would position him to build wealth.
One of the things that he talked about is one of his mentors used to always read the paper and he used to always read books, so that made him want to read a book. So for the first time, he read his first book cover to cover when he was already in his twentie. He remembers meeting millionaires, from, his neighborhood.
Anne-Lyse Wealth: And, prior to that he had this idea of what millionaires should look like, be like, and he realized that no, there are millionaires next, door. There are people who have, accumulated wealth, but they also live a moderate lifestyle. And so it made him. become a better steward of his money so that he could also follow into their footsteps to become a millionaire as well.
All right. Tip number two is continue to learn, as I've been having this podcast talking to a lot of wealthy people, one recurring thing is that they do not stop learning, So if you want to build wealth, if you want to 10x your income, if you want to 10 x your wealth, then you have to continue to learn as well, whether it.
Through listening to podcasts, reading books, having conversations with people watching masterclass, it is important to continue to learn and educate yourself. That is a non-negotiable. The more you know, the better you can address your strategy, and, the more you can accomplish
Also. Still in that episode with Cedric Nash, he credits reading those books, some of the books that he read for changing his mindset. One of them was, how to Be Your Own Stockbroker. Another one was The Magic of Thinking Big. Those books really expanded. Its mine.
I. every week I ask guests, which book changed their perspective on life. Some of the books that, keep coming back, think and Grow Rich. Another one is The Richest Men in Babylon. I encourage you to go out there and read more. Listen to some podcasts. There's some amazing, podcasts about wealth.
if you're not subscribed to the Dreamers Podcast, make sure that you subscribe so you never miss an episode. But there's also podcasts like Journey to Launch. there's, market Monday. So many options. there really is no excuse when it comes to being able to learn more and educate yourself more. And , when you take the time to educate yourself, then you prepare yourself for the future.
Anne-Lyse Wealth: So for instance, right, Cedric Nash, again, he inherited $10,000 from his grandmother when his grandmother passed. But because he had taken the time to educate himself, he was able to take that money, be a good steward of that money, and invest that money and turn it into millions and millions of dollars, but it all starts with know. and the only way to get knowledge is to continue to educate.
Number three, create a plan. You cannot work towards anything it's really hard to make progress if you don't know what you are working towards. That's why it's so important to make a plan and for that plan to be tangible, So you have to actually, Write the plan down. I'm a fan of vision board, so I start with the vision board, then from my vision board, I create my plan.
Anne-Lyse Wealth: I create my plan for this year. I create my plan for the future, but it's important to write things down and it really sends a signal to your brain to start working on it. again, I interviewed Cedric Nash for black enterprise, and in that article he talks. When he was in his early twenties, he, created a plan.
really, it wasn't a plan, he just wrote things down on a piece of paper of what he wanted to accomplish and by what age? . And even though he put that piece of paper away, he was able to accomplish almost 90% of those things within the timeline. I encourage you to write, things on paper when it exists in your mind.
Anne-Lyse Wealth: It's not real. So I would say go even one step further, than Cedric. Create a long-term plan, but also have your short term plan of what you want to accomplish this year in terms of your financial goals, your life goals, and what we wanna accomplish next year. and take the time to go back and look at it to see how you evolving, track your progress.
If you haven't noticed yet, I am really literally walking you through some of the best advice from that article that I wrote in Business Insider about how Cedric Nash turned his $36,000 salary to over 90 million in annual business revenue and over 50 million in net worth.
All right. Tip number four is you just have to earn more. I know a lot of the personal finance advice is don't spend money on coffee. Recently Isaw something that says, don't spend money on breakfast. But it's important to have your expenses. under control. It's very key, You have to track where your money is going, but it can't just stop there. In addition to that, especially the way inflation is going right now has been going for the past few years. We have to figure out a way to earn more money. So whether it is getting a promotion at your job, whether it's getting another job.
Whether it's getting a side hustle, finding other, sources of income, creating passive income streams, you have to earn more. That's just one key element, recurring thing that has been in almost every conversation that I've had with millionaires. So the assignment is to go and write down a list of things that you're good at and see if you can monetize.
If you wanna go the route of building,a side hustle or creating an additional income stream, or if you currently have a corporate job, then create a plan so that you can earn more money. . And then last but not least, tip number five, you have to invest. You have to invest the difference,
So it's not just a matter of earning more and then being victim to lifestyle creep. You have to earn more. But then you also have to have the discipline to invest that money, I'm a fan of diversifying your, investment. So don't just invest in one place.
But to start, maybe you can only start with one place. So, Start with the stock market or start with real estate investing. Do all of the above, but it's important to invest. The only way your money is gonna grow and turn it into wealth is if you're able to invest it, and the investment is going to generate income from you.
And the ultimate goal is to be able to live off of your investment. So not even having to work. Who doesn't want that? so, in recap, here are the five things that you can do right now to start. 10 xing your salary, your income, and your wealth.
One, expand your network. Two. Educate yourself. Three. Create a plan. Four. Earn more money. And five, invest more. Invest the difference. All right. I hope you enjoy these tips. And if you want more content like this, make sure that you watch the episode right after this one, episode 81, how to Make Your Life Recession Proof.
All right, that's it for today. I hope you enjoyed today's episode. I cannot wait to see you back here Next week for another episode of the Dreamers podcast. Bye.