If you were to ask anybody you know how to become rich, they would say to save your money, invest it, and live below your means. They would tell you to have a financial plan, educate yourself about money, and not buy expensive stuff.
Today, I will advise you to buy a Rolex. I will also tell you about a few other purchases I’ve made over my career that have made me more financially wealthy. Some of them are weird, but I will explain my methodology and mindset surrounding each one.
These will boost your financial position
- Video camera. I was given my first one back in 2006. Then, in 2008, I started posting YouTube videos that changed my life. If you are thinking about creating content, don’t think about it. Just do it now. If you need help setting up an account and getting going, I’ve talked about this course at Skillshare. It’s Ali Abdaal’s course called “YouTube for Beginners: How to Start and Grow Your YouTube Channel.”
- Private-label products. I bought private-label products and put my name on them to start selling. Pete & Pedro began this way but isn’t anymore because the company has grown bigger. But it was a way to affordably get the company going without much risk when I started.
- Rolex watch. A Rolex is a nice, expensive watch that other people know. It will be noticed instantly and gives a bit of street cred. It also provides a boost of confidence.
- Platinum AMEX. It will set you back almost $700 annually, but the benefits are unbelievable. Use it for all your business expenses, and the points add up. I link them to my Amazon account and basically buy everything I want on Amazon for free. If you don’t have a credit card with rewards, you’re missing out on an incredible opportunity to become more financially stable. If you have a high-interest credit card with debt, pay it down immediately.
- Real estate investing. I love real estate investing, which instantly increased my net worth. Buildings are assets and created a positive cash flow for me. Depending on your risk tolerance, there are many different ways and options to get involved in real estate investing, anywhere from small to big scale. Educate yourself. I recently took a Skillshare class, “Sophisticated Real Estate Investing: The Core Strategies, Tools, and Mindset.” This course was one of the best I’ve taken and easy to understand because Alex makes learning and understanding simple and breaks it down in an understandable way.
- Skillshare. I pay yearly for a membership to Skillshare. They’re constantly adding new courses that have helped me in different areas of my business and professional career. They offer classes in entrepreneurship, business marketing, social media, photography, creative writing, and more.
- Help. You can’t do everything. Sure, when you start, you must do everything because you need to make some money. Hiring and delegating to the right people will allow you to grow and expand. Every one of my businesses got better and more successful when I got out of the way and hired people to come in and be the experts at their jobs. And this allows me to do what I’m good at.
- Gym membership. It’s a wise investment that will help facilitate confidence and personal development. It’s good for your mind, body, and self-care. When you care for yourself, you will feel good and mentally strong. Every aspect of your life will be impacted.
- Clothing. My wardrobe is about confidence and perception. People will automatically notice and respect you when you dress well and walk into a room. They will also think you’re more relevant. You can have two equally qualified people dressed, smelling, and groomed differently. Even though both are similarly qualified, people will invest in the one who dresses well, smells good, and has a good grooming game.