Boring equals money 😂

I actually hit 100k nw yesterday. Biggest lesson is boring is best. Lost money on crypto and trying to trade stocks. Best returns on etfs and buy and hold stocks

Also, medical bills. Some people think people are just blowing money, but the cost of living just a basic life eats up a lot.

Compound interest is a powerful force. Which is why the US national debt should be americas biggest concern.

This is why people say “don’t buy lunch, make it at home”. Every cent that you don’t spend on convenience and fun can go to something that builds wealth, or at least reduces the amount of debt one needs.

I love the fact that you kept it so real in this video about what most people cannot do. It’s so true Patrick. So true. Wealth is a long game, most ppl can’t wait.

I’d rather be boring and secure than frivolous and stressed.

Self discipline

You don’t have to be boring, you just have to develop a system in which you can live life within a very specific budget that allows you to still live life, yet save a fraction of what you earn, and also have the discipline to not touch the money that’s making money for you. However it is impossible for some ppl to achieve it when everybody around them are living like millionaires yet everybody is in debt.

Yes, Pat is correct. It’s very difficult and most people aren’t able to deny themselves to teach that financial freedom.

33 years old here. Has taken me 10 years and 3 months to get 210k in my retirement. Keep grinding

These lessons are so underrated. Thanks Pat. You are the man and I love that your crew can see it.

I spent 8 years saving 31% 401k. At times i felt like i was living poor. Now so happy i did it. My advice if your working save what you can.

My portfolio actually began to explode when it hit 25k. I kept investing into it and reinvesting all the dividends

I’m almost at 50k and he’s right, I live a very simple life although my pay continues to increase as the years go by

Net worth does not explode after $100K for everyone. You still have to keep grinding.

Most people can’t do it, but they want you to do it so that they can spend your money and hard work, while they’ve also had their fun being irresponsible while you were slaving away. Family members are notorious for this.

Boring is subjective. Just find people who want to be "boring" too. 😆

Creativity is key. Besides what’s boring to one might not be boring to another. It’s a matter of patience, yes, but also realizing that fun is about thinking outside of the box, being imaginative, inventive, and innovative, and it doesn’t have to cost that much, if anything at all. Know who you are. Are you someone who can’t have fun unless you’re the light of the party? Then prepare to be broke. Or, are you someone who can enjoy time alone, a walk in nature, time at the gym, creating fictional stories that are adventurous and fun, if so, you should be just fine.

He skipped the 100k to 900k timeline

That applies to a lot of things. Kids expecting to get a big pay day right out of college is just not how it works. You got to work your butt off and work towards that goal. I understand it's hard in these times, right now, but I never thought I couldn't do it. That never entered my mind. I knew what I wanted and figured out how to get it without being a terrible person. But that's just my thought.

It's easier because by the time you've made 100k you've probably learned enough to know how to make more than 100k

@VALUETAINMENT Aussie here that gave up that life for 3 years and paid off a mortgage - it was worth it.

A gem……. Funny Compound Interest stayed with me from Arithmetic lessons back in the 1970’s at school…… Alas they did not teach it quite like this! Thank you

Damn it’s so true about the being boring. I have been on the road to building wealth. In the last 2 years I went from 0-300k (hold applause). Since I went on this mission, I reduced my drinking, drastically. It is a lot easier doing what I do when my mind is sharp. I don’t buy any liabilities. I opened up a Roth IRA, and HYSA. I have 6 months emergency fund. I continue to study how I can make money to reach my goal of being able to live off of dividends. I will be in my 30s when I do retire, and that is facts. I truly believe that God wants me to be rich. This goal is part of my destiny and I am excited to see what life has in store for me.

Wow, I’ve never been able to save $10,000 a year. I’m glad there are people that can do that.

So very true. Debt allows people to rush and get ahead of themselves. Making it even easier to loose track. Make your money, earn more money. Boring, doesn't mean unhappy.

I saved up to my first 100k on a teachers salary 15 years ago. 1) don’t be boring read a book, go for a walk, go to free local events 2) do not eat out lunch during work (unless it’s a treat or a extreme time constraint) bag it! 3) do not order drinks 🍹 not juice soda or alcohol 4) set a limit to how much you can spend on entertainment a month (one concert or one big event or 2 dinners) 5) be realistic about shopping - I love hand me downs and I repair my own clothes For those people that think it’s impossible or unrealistic: now that I have much more money I can buy whatever I want for myself and any loved ones because I was so “boring” in my 20s!

Live beneath your means , learn how to save! If you learn how to save you’ll always have money . That’s what my grandmother taught me & it seems to be true ! And if you learn how to be organized, you’ll always have time that one’s a little tough !

They really skipped over the fact that it would take 29 years to get to $900k at 10k a year compounding at 7%

It’s called determination to get the first 100k! It’s not boring ! It’s actually exciting that you are getting ahead as compared to those who like instant gratification!

I am so blessed my parents are letting me live with them. I will be saving up so much money and be able to buy my first home outright hopefully.

Well said ❤

“All the friction is at the beginning of wealth building.” 👆🏾👆🏾👆🏾

Dang I really needed this today lol

I was that boring I was that smart. I tried to explain this to my partner. It works like a snowball. But she would not listen. Never get married never have children with somebody that has an eye for things that shine.

Power of compounding.

Dedication, determination and discipline...🇺🇸

I wish someone had cared enough to teach me this stuff when I was young.

True. Its so easy too. I came from underneath the tracks man. Born in Flint by a single mom, 3 kids, on welfare. Government cheese, school lunch program, etc. When i started working at the local imigrant grocery store, Mr Z taught me a valuable lesson about money. Its not how much you make, its how much you keep. He told me if i saved and invested 50% of whatever I make for 25 years, id never have to work again. Dude had me investing in Nikes stock at 16. Back then, you'd do your stock picking from the business section of the daily newspaper. 30 years later, i still work, love my career, but my investments clear 5 figures per month. Nobody would ever know. I live in a modest townhouse in an hoa, drive a 10 your old suv, fairly average looking, incredibly beautiful wife. (Thats a dead giveaway a guys loaded) However, when we go on trips or vacation, we absolutely splurge. Full on rockstar status.

It took me a long time to get tired of the cheap thrills and become a boring man. Now I’m finally getting serious about investing money.

Currently in my first job. Investing over 2k a month (~85% of my paycheck) in mutual funds, with the rest going to my parents since I live with them, leaving me with an allowance of about 150 a month. The strategy is to hold out this barebones lifestyle for 4 years, with the idea that dollars are worth more when you're younger since those can compound more. That means I'll be at 96k in contributions when I "start living" and four years of returns will push it over 100k.

Thanks VLAD

This was before Covid and inflation. Now you need $150k just to pay the bills.

Guess I better work a few more years

Getting a 7% return consistently is the problem.

NOT ONLY FUN ! BUT, ON IMPROVING ONE'S HEALTH !

At the end of the day “High Income” is the goal ! If it’s a high paying job, a business you own, side hustle or a combination of things .. However you get it having a lot money coming in makes it so much easier to build wealth.

"What does that tell you" -It tells me that it will take 30 years to get to 1million dollars

Ron Popeil once said, "Set it and forget it!"

My retirement plan will match me at 11 percent fully in 7 years so Im really excited about this new career I have.

Patrick omg I literally was thinking the exact same thing, and then you said the same thing!!! So true!!!!

The real key is to never lose money on investing.

The reality is rent is eating up expenses. Live with many people, or even better' with family. That will make you rich 100x faster. Save that money, invest, next thing u know you're rich.

I trade a $100k account on a prop firm, getting it was not easy, but, I can say that access to a $100k is easier today than 7 years back when I started trading. And even easier today than when prop firms like FTMO did not exist. 2% a month is not that hard when you have sufficient experience doing it.

Warren Buffett's 2 rules of investing: 1. Never lose money 2. Never forget rule 1. Used to think Buffett was being a cheeky monkey when he said that but after years of taking too much risk and often losing money, I understand exactly what he was saying.

I feel like my income about tripled as I got a couple of good promotions about the same time I hit $100k invested. Since then, we cash flowed my wife's nursing degree. Now combined, we are saving and investing a total of 140k a year, $100k outside retirement pushing to get to $1 million outside retirement by the time we hit 45. We worked our butts off. Invested in ourselves. Worked our butts off some more. Now we are finally amassing wealth, fast. I figure, save hard, live debt free and as out outside retirement investments offset our income we can add some more expensive hobbies etc.

This can be speed up through unsecured loans buying assets

Hey you made 7%! Inflation was only at 18%, meaning you got a sick return of -11%. So you have 100k in the bank and now it has the value of 89k! Congrats now pay us our fee for investing your money for you.

Compound interest and the rule of 72 are amazing.

I got 70k between my trading portfolio and my buy and hold portfolio. I will Will see a 100k soon. And PBD is right! Boring is definitely the go to for me. I did all the partying and stuff in my 20’s and half of my 30’s. At 38 I just wanna trade, go to the gym, eat clean, be a father to my daughter, and stay out of the way. With all the shit going on in 2024 I’m not missing out on anything lol

That’s true. Most boring and straightforward people are the ones that build wealth the fastest.

I might be boring but delayed gratification excites me lol

I can give up the fast life. I already gave it up. Working on that profit plan right now💯

NAILED IT ! Boring yes - but patience with good investment decisions and frugal wins it… 🎉

Pat is exactly right 💯 people will make money in crypto this bull run then spend it instead of reinvesting it during the bear market to make millions

I did every single thing below my means and only did activities that were free or extremely cheap for myself. It's a mental game people, make it a habit and a challenge to save as much as you can each month. Compare every single month. You slip? You better do better next month or consequences happen that you have to adhere to. Good luck.

You work hard towards that wealth building and then comes along inflation….

Because you are reaching a point where basic needs are met, and you have more disposable income.

It took me 13 years to hit $100k. 6.5 years to get to $200k. Less than a year to get to $250k. It just gets better and better.

Also... and probably the better reason is, a lot of monthly and 1 time expenses are already covered, meaning the rest can go toward saving or investing to help boost it faster

Depends on your target. If your target is 1 million than yes the first 100k is the hardest and it will grow so much faster after 100k. But since if your target is 10 million than 1 million is where you will see significant growth.

A big key is no dept, when your dept free you have more cash to go to investing and having a little fun .

So the saying "It takes money to make money" is true.

It explodes after 100k because most wealth gaining assets are expensive. With 100k, you have more access to credit to acquire assets that produce. Ex: You can take 10 years to save 100k, but after that 100k, you can leverage it to purchase a rental property and get the entire 100k back(or more) and repeat the process until exhaustion.

Nothing succeeds like success.

So encouraging!

indeed, most of the time i value the most in my live (35M) is doing cheap stuff with friends, swiming, or enjoying a 3k holliday

FACTS! I blew 70k In 3months and didn't see it happening, but my first 40k it took much longer to wither away cause I was gripping that first 5 digits! Can't wait for my next!

Honestly what stops alot of people from reaching 100k+ is they become too conservative, same can be said from going to 100k to 1 million, each requires a totally different mindset/risk tolerance

One thing about being boring: People who are the best at something usually make the most money in that field - there is no better alternative than them so if someone wants that level of product/service they have to pay the asking price. If they have way more demand than supply they can ask whatever they want. Doesn't have to be quality, it could be convenience, speed, scale or whatever. So better = more money People get better with practice. Practice = better Practice is repetition, and so repetitive. Repetition = practice Repetitive repetition is boring Boring = repetitive So therefore: Money = value (better) = practise = repetitive= boring Money = boring, i.e not something new and different every day

While you are saving up towards that 100K, the ever increasing cost of living is making sure it takes a lifetime or two to get anywhere near 100K.

Barz!🔥👍

That’s a skill in investing. Agree. It’s hard to learn and apply a skill or build a business and make the first 100k. ❤

I started 08/2020 got to 16K by 05/2021, had my chance to cash out 125K 11/2021 (my goal was 100K) but got greedy and watched in all trickle back to 16K 😅 I’ve stayed boring, no problem staying boring I’m not into flashy material things. Never sold and almost back to $100K and have kept learning all along.

Patrick, while I agree wealth building is boring because you need to focus on one thing and do it exceptionally well for a long time, you and I both know most wealthy people don’t actually follow the strategy he’s talking about with the markets to become wealthy.

Facts ✅️ 💯 ✅️

Thanks, thats the key, the boring discipline

Boring is short sighted. Making your own lunch for instance teaches new recipes, next time you have a dinner party, your food is the talk of the party! Be the change for the long-term

Right right

Pbd this is so real and so true sir well said

It took me 1 year and 3 months to save $65k with my little catering business

I failed to reach my first 100k with stocks, crypto and etfs. For me it was real estate that got me there

So true

I'm an Indian in Thailand, make a modest (by American standards) salary where I save maybe $5k per month (I earn 8k) and I've saved up $200k which I work in india for real estate and I am $50k in crypto. I plan to grind at my boring job until I hit 400k net worth I think. after that the money should theoretically sustain it's growth including my 2k per month lifestyle. It's hard to project a retirement target with inflation and currency exchange, I think we need to overshoot by 2x to be safe.

Definitely great inspiration, my first 100k took almost a decade, but the next only a few years 🔥😊

Yes its true

It is so true! No self indulgence. My Jamaican grandparents did it in England by throwing “pardners” a way of saving money.

The key word is to stay "Boring" to be able to save money. So true

Best thing to do is run two seperate budgets in life...this way you can have a 100k goal but also a set budget that stays still...you can then see simply when you can afford to hit tge 100k tank a bit. The trick is to actually get into making money...like its a hobby...that normally haplens en rkute ti 100k