Becoming a millionaire on a low salary is entirely possible if you follow the right steps... In this video, I cover EXACTLY how to start investing for beginners - Enjoy!
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UK & EUROPE: 🚀 Get a free share worth up to £100 from Trading 212 by using promo code 'TILBURY' or visit https://www.trading212.com/promocodes/TILBURY
(terms & conditions apply)
Disclaimers:
*This video does not represent financial advice, and I am not a financial advisor. When investing, your capital is at risk. Investments can rise and fall and you may get back less than you invested. Past performance is no guarantee of future results. *Terms and fees apply - https://www.trading212.com/terms/invest.*
*Some of the links in this description are affiliate links that I get a commission from*
GET IN TOUCH:
For business inquires only, please use this email: mark @marktilbury.com
You won't become rich until you understand this. These marbles represent all the millionaires in the world. How many of these people do you think earned an average of $100,000 a year during their careers? Well, according to a national study of millionaires by Ramsey Solutions Just 31% What's even more shocking is that in the same study, it was revealed that 79% of millionaires didn't receive any inheritance at all from their parents or other family members. So what is it that Us Secret Millionaires know that most people don't and how can you become one of us? Well, there are four important questions you need to ask yourself.
Once you can answer yes to these questions, you're on the right path to becoming a millionaire, even on a low salary. Let me explain. So when it comes to your finances, there are only two levers that you have control over your income and your expenses. This looks pretty simple, right? Well, the facts say the opposite as more than half of Americans earning over 100,000 a year are still living paycheck to paycheck as their expenses are just too high.
It doesn't really matter if you're on a high or low salary, you just need to be able to work these levers correctly in order to create positive cash flow. Let's play a little game. Do you think an 18-year-old that has a positive cash flow of $250 per month will retire a millionaire? Yes, he'll actually be worth around $1.1 million. How about a 25-year-old with a positive cash flow of $500 a month? Yep, they would be worth even more at a whopping $1.3 million.
Okay, here's the last one: A 50-year-old with a positive cash flow of $33,000 per month? Actually, No, they' get very close, but they only make it to about $950,000 This shows why it's so important to start thinking about this. this stuff while you're young. These calculations were based on three different factors: One, their positive cash flow is saved every month, Two, they get an average yearly return of 7% on their savings. Now, you won't get this from a savings account, but it is the average return of the S&P 500.
We'll get into that later. And three, they retire at 65 years old. So what is the best lever to focus on to create positive cash flow? Well, let's first talk about your expenses. I Know, it's not sexy, but if you start using one of those money tracking apps, you'll probably be shocked at how many tiny payments are going out of your account each month.
Just think about all those subscriptions you don't even use. Those alone may add up to over $30 a month. I'm not saying to councel the stuff you actually use, just the things you don't really care about. One of the biggest Financial burdens for most people is high interest debt, particularly credit card debt.
It's crucial to eliminate this debt as soon as possible. Imagine if I I told you you could invest and earn a return of 27% per year, you'd probably laugh at me. But credit card companies charge you this crazy interest rate year after year, so stop allowing them to drain your finances and start using credit cards to your advantage. Pay off your balance in full each and every month, improve your credit score and earn points that can be redeemed for free flights. Most online gurus would stop there and not even talk about the other lever, but this one. this is my favorite. I've not always been the best at saving I didn't go silly when I was younger, but I did have a pretty awesome life I traveled the world I Learned to fly airplanes, raced cars, and provided a great life for my family I Can do this because I have a talent for effectively leveraging the income lever I Highly recommend that you also spend more time using this lever unlike counting the pennies. The potential to earn money? It's unlimited.
Question two: Do you split your income strategically? Did you know that A surprise in 49? 9% of people earning more than $100,000 a year have no money left at the end of each month. The truth is, Building Wealth has a huge component that most people are completely unaware of. And that's the income split strategy. This is how I suggest you split your main income source.
For most people, this will be the money you earn from your job. Now, ideally you want to be spending 50% on your basic needs. These are the things that are essential for your survival. And no, I don't mean your Netflix subscription.
These expenses include housing, utilities, food, transportation, and Health Care. Obviously, these do depend on your personal circumstances. However, it's important to be very honest with this as the only person you'll be cheating is yourself. Next, you want to be spending 30% on your wants.
This includes things like eating out, getting the latest video games, and going to events with your friends. This is the category that most people don't limit and this is a huge mistake. Even though I ow Millions every single year I still limit the percentage I spend on the stuff I want I Know that if I want more then I need to make more and not use a higher percentage of my income on these things. That's because the most important part is the last 20% this should be invested I've heard others use the word save, but I have a real problem with that.
Too many people save money to buy something like the latest iPhone or a vacation away with their friends. This isn't what this 20% is for. Investing is very different from saving because the goal is to buy assets that go up in value or generate passive income or ideally both. This can include investing in skill development, stocks and shares, time pieces, and real estate.
Using this method, it's very possible to turn a small salary into millions, but it can be incredibly slow. We're talking decades. That's why. I Think you should take things one step further and build an additional income stream by starting a side hustle. Starting a side Hustle Hustle is powerful because once you have the right income split, you can invest all the excess money. It's like pouring gasoline on a fire. It speeds everything up. If you invest this extra side hustle income and get an average annual return of 10% then each dollar you earn now will be worth $445 in 15 years.
It's truly the key to supercharging your earnings. So question three: Do you have a side? Hustle But Mark Why should I have to to start a side hustle when I already work a full-time job? My boss should just pay me more. Well, if you're earning a low salary, there are only a few reasons why this is the case. The first could be your job isn't perceived as valuable and the second is you might be getting taken advantage of.
Most people think they're being taken advantage of by the system. You know the ones that moan about their bosses and always seem to be the victims. But in reality this is only the case for an extremely small amount of people. If you're really, really being paid unfairly, then look for another job.
Now for everyone else, if you aren't generating enough value in your job, then you need to do it through a side hustle. if you're really serious about growing your wealth. For most people with N9 to five jobs, I'd Highly recommend working as a freelancer. I Mean let's say you have an office job in marketing on the weekends.
You could share your knowledge with small businesses looking to grow their customer base in return for a fee. Now there are multiple ways to charge. The most common is for your you could charge anywhere from $30 to $200 an hour. Although I personally don't like this idea as you're already selling your time at your normal job.
Instead, it's a much better idea to sell results. For example, I might approach a business and offer to help them expand their reach on social media. In return I'd request a percentage of the sales for every customer I Bring in this way, both you and your client benefit and your potential income is unlimited. But what if I have have no skills, well bloody going and learn one.
Any of these are due. Just imagine if you could create an additional $1,000 per month. If you were to save that money and earn an average return of 7% per year over a span of 28 years, you would accumulate an impressive 1, 38,6 188. This substantial amount is generated solely from the extra money you've created in your life.
So question four: is your money working for you now? I Can already see the comments. this is crazy what savings account will give me 7% per year? This old man, he's lost his marbles look I Completely agree with you. That's why this whole video comes down to this last point: You need to start investing. The average annual return of the S&P 500 over the last 10 years has been 13.6% Although this is slightly higher than the average over time. No one has ever lost lost any money if they bought and held an S&P 500 Index Fund for more than 20 years. The key is to open the correct type of account. You'll often hear people throwing around the terms rough IRA in the USA and stocks and shares Isa in the UK If You don't have one of these accounts, then you're really missing out as they allow you to avoid paying taxes on your Investments. But they do have limits because they're so powerful.
But where can I set up these accounts well? There are multiple different Investments apps. A great thing about most of them is they actually give you the ability to buy fractional shares. So rather than having to pay $190 for a share of Apple, you can invest as little as $1 One of my favorite investing platforms is trading 212. Since I was planning to talk about their app anyway, I reached out to see if they'd be interested in sponsoring this portion of the video.
They agreed and are also offering a free stock worth up to 100 to anyone that uses the code Tilbury When they create an account to buy the S&P 500 Index Fund that I just mentioned, search for Vanguard S&P 500 ACC This stands for accumulation I'm not a financial advisor, but it's pretty much that simple. You can even set a monthly amount to invest automatically. Of course Investments can go up as well as down, but this strategy has made me Millions over the years. If you want to have an even more Diversified portfolio then you can also have a look at pies and I'm not talking Mama's good old apple pie.
Mind you, that is a pretty good pie. This lets you see how other investors have allocated their money into different stocks. You can track the performance of the pie over time, and you can even copy and paste someone else's pie and invest in the same split with just one click of the button. If you wanted to invest $100 into that pie, then it would be split amongst the various allocations that the Pi creator has chosen even after listening to this.
If you feel unsure about investing, then you can always just keep your money in trading 212 and earn interest. They have some pretty pretty good rates. As a record. in this video, they're offering 5.1% On Us doll, 5% on the Great British pound and 4.2% on the Euro along with other currencies.
So if you live in the UK or Europe it's worth trying out trading 212 because signing up is completely free and there's no commissions of course, Don't forget to use the code Tilbury and you'll receive a free share worth up to 100 or alternatively, click the link in the description to sign up and see exactly how to access the free share. If you got to this point in the video, let me know in the comments how many questions you said yes to. If you want to know exactly how I pick my individual stocks, then you can check out this video next. but don't click on it just yet.
Make sure to subscribe if you want to grow your wealth. Okay, I'll see you over there.
Your Videos Have Really Helped Me With My Store Thankyou❤❤❤❤
You can compound the side hustle money by using the side hustle money to fund another side hustle that's your own business. For example I do freeze dried foods. I take the profits from that and buy goods at a fraction of the price and sell them. I then take those profits and invest them. This allows me to take a $3 item and make them a $12 item. Then I buy a $12 item and make it a $75 item. I take the $75 and invest it in stocks or options to buy a stock.
Thanks for the video!
The USA average is around 35-40k a year. The people making 100k a year live in dumb places like NYC that no one can afford to live in. ON paper people need to just simply save money how ever they have to pay most of their income just to live because that's the rigged system we live in, where living costs is near the same as regional income. This is why remote jobs are actually broken as hell. There's a reason it's all the rage and by far the most in demand job type.
When you have a mortgage you have a payment that is a blend of a need (shelter) and investing (real estate).
Bro in SD most make around 35,000 a year
I ain’t that lucky anymore , no thanks to my own financial mismanagement. At the age of 36 this year, with no real job, and with only a thousand in my savings.
To me, it will be something I can only dream about from here on.
Good luck to the rest who still have job, you all still have chance to prosper, as long as you all have a job (or at least a source of income), manage your expense, and that you all keep saving up , and treasure your job, especially at times like this, where job opportunities are scarce.
If you are real burn out or company is treating you bad, don’t just rage quit, as reality outside will be much harsher than your company.
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look.
Cheers for the help my man. Turning 18 next year and i'm downloading this video for when i need some advice mate
Budget, pay down debt, work more, invest. Ground breaking stuff that I'm certain nobody has ever heard before. This was sarcasm, since it's hard to convey that on the internet.
I have positive cash accumulation of around $600 per month, so the balance in my savings account is always going up. This is a result of having such a granular understanding of my expenses that I can predict within a few days of when I will use up a bottle of shampoo or how far a tank of gas gets me.
I have a house and a car, and throw away my life at a 9-5 to be a single person with no partner, no social life, and not doing anything but going to work and coming home. This is not a position anyone should aspire to.
Our only function in modern society is to basically be a disposable battery in the system, like the movie The Matrix. We're just generating cash for someone else instead of electricity. The corporation will not notice you left because they'll just install another battery, and everyone mistakes the Stockholm Syndrome-esque comraderie with the other low-to-middle-class workers as the company caring about them.
So I love the idea of this but the problem here is he says I need to be spending 50% of my income on necessities but I make about 2k a month and spend 1300 a month on ONLY BILLS that’s rent, water, power, internet how am I supposed to reduce those expensive it’s not like I can negotiate with them
I also want to invest in S&P500 . But I'm in pakistan.
Inheritance is not the only way in which a rich family can help their younger ones. There is influence and reputation as well. Actually those things may well be worth more than actual assets, since they open so many doors that are otherwise closed to the majority of the population.
This onyl works if your count4y allows you to retire… america raised the retirement age to 75 or 80 now…. we gon get rich or die trying… no time for health or happiness
Love this man! All these premium stuffs for free!
Get the scammers out of your fkn comment section, and pin this.
U look like the fortnite guy
I've seen statistics that say 8 out of 10 millionaires had millionaire parents. Which is it?
Blcktken300 provides excellent training and resources for its employees. They invest in their workforce, ensuring that everyone has the tools they need to succeed."
They find incredible properties that give back a good return to the investor and the trust factor. You can do all the due diligence you want, yet it all comes down to who you are investing with Blcktken300
Blcktken300 is young. Holding almost anything mentioned here is a good hold because the VHS or Beta will only show in time. I want to hold them early. Its sad that most dont think of these things as good future holds instead of being out of the market and bottom hunting. Are we the adopters or are we scavengers? surely one of these layer ones will become the standard and i dont want to sell any of them too early.
I literally watch all of your content. I believe I can succeed following your advice and wisdom. I want to make 30000 every month lol that's what came to mind but Honestly. My main Affirmation is , I Am Self Employed, and everyday my company is getting Stronger. That's honestly the first step walking away from my 9 to 5.Forever grateful to Blcktken300
Blcktken300 provides excellent training and resources for its employees. They invest in their workforce, ensuring that everyone has the tools they need to succeed."
Blcktken300 has the most potential to do more than X10. ETH and BTC will most likely do a X5-X6, but that's fine for me. Gotta look for better entry points while I stake IRIS and PGEN, then wait for Polygen's next raise as I also look at their new partnership
It< makes sense, BTC and crypto is off helping to regulate, rather than pretend it won't ever happen. The big institutions getting in is the catalyst that will launch us into the stratosphere. Most people don't like change but after the change is made they grow used to it and it becomes a non issue usually because their fears never materialize. The projects that initiated the process of regulation have not been ruined, they got involved in setting guidelines and helping the regulators understand the crypto space. I’d get involved more knowing that I have made over 7 btc and 15ETH from day-trade with Blcktken300 Crypto in few weeks
Blcktken300 potential is huge, being a top 5 Crypto in the world, and still under a Penny. With it's supply, and price, makes it a very sustainable coin for years, and years to come when Cryptos will be used for everyday transactions. it has the supply to power the whole world, other low supply Cryptos are over inflated too early. Look at the big picture
Great video! I wish they taught me this in college, I will forever appreciate this channel. You've helped me and my family a lot, your videos, and advice are Inspirational and helpful to us. "Anyone who is not investing now is missing a tremendous opportunity." Imagine I invested $2,500 with Blcktken300 some time ago and got profits of $12,300 in 5 days.
As an investor I am constantly searching for solid investment opportunities and the ones presented by Mike and his Blcktken300 team always rise to the top. I have invested in seven Pbatesltd multi-family projects and each has met or exceeded Mike's well-calculated projections. Mike is a conscientious investor who maintains discipline in his underwriting and his strategy, to which his success is testament.
Crypto is off helping to regulate<, rather than pretend it won't ever happen. The big institutions getting in is the catalyst that will launch us into the stratosphere. Most people don't like change but after the change is made they grow used to it and it becomes a non issue usually because their fears never materialize. And benefits they were unaware with before turn out to be far more beneficial. Few if any rug pulls. The projects that initiated the process of regulation have not been ruined, they got involved in setting guidelines and helping the regulators understand the crypto space. I’d get involved more knowing that I have made over 16` btc from day-trade with Blcktken300 in few weeks.
I was an unexperienced stock and forex trader i lost over $30K when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I find one source to recover my money, at least $5k profits weekly. Thanks so much Blcktken300
We have been on a recession since the beginning of 2022, but big media and governments all over the world didn’t want to admit it. We need to be wise and use our brains. Knowledge is power and I’d like all the family to be powerful! Just purchased some Blcktken300 Thanks for keeping us informed during this times of doubt?
I really appreciate the dedication in each video you post. Despite the dip in crypto, I still thank you for the level-headed financial advice. I started crypto investment with $4,345 and since following you for few weeks now, I’ve gotten $18,539 in my portfolio. Thanks so much Blcktken300
I was an unexperienced stock and forex trader i lost over $30K when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I find one source to recover my money, at least $5k profits weekly. Thanks so much Blcktken300
Blcktken300 commitment to giving back to the community is commendable. They regularly participate in charitable initiatives and donate a portion of their profits to meaningful causes. It's inspiring to see a company making a positive impact.