By Siam Kidd is a money mentor and founder of The Realistic Trader & The Wealth Action Plan
First of all, before you do anything, you need crystal clear clarity on what you actually want in life, where you want it, how you want it and by when!
This is something 99.99% of the population are clueless about. Most are haphazardly bumbling through life with no plan. Unfortunately, this attitude will result in you always being reactive to things and constantly playing the blame game! And you really don’t want to be in the middle of the Atlantic Ocean in a rowing boat with one oar going in circles and not knowing which shore you want to get to!
You NEED to allocate proper life planning time. Most people spend more time researching their next holiday or car purchase than planning their future. Try two good weeks of planning your next 10 years…
How I managed to go from being broke to a multi-millionaire in under 10 years
The following steps can help you achieve your financial goals. It’s how I managed to go from broke to a multi-millionaire in under 10 years, despite failing at more things than most people fail at in a lifetime!
- 20 year Life Vision. What is the perfect end version of yourself. Who do you want to be known or remembered as?
- 10 Year Missions. These are the things that ultimately achieve your Life Vision.
- 5 year Targets. Most people over-estimate what they can do in a year, most GROSSLY under-estimate what they can do in five years. These five year missions could be as simple as setting up a new business, getting it to £100-500k profit per year and selling it for a 3-5X multiple.
- 1 year COURSE CORRECTIONS! Most people try and make brand new life plans every year, constantly changing the goal and direction. You’ll never get anywhere doing this. Instead, every year you need to ensure if you’re still on track for your five year mission. If not, course correct. If you are, great! Carry on being awesome!
- HABIT AUDIT! You won’t get ANYWHERE successful in life without the correct framework of habits. Your actions rest upon a scaffolding of habits, so you need to ensure that your habits are congruent to your goals. For example, I’m not talking about stupid 5am morning rituals. That’s what Wantrapreneurs do. Instead, have excellent productivity habits. It’s not when you wake up that matters, it’s what you do whilst you’re awake. I for one, wake up around 11-11.30 every morning. I’m groggy until midday, I then work extremely efficiently (using as much leverage like staff/systems/AI as possible) until 5pm. Then I sort out dinner and the kids’ bedtime. Watch something on Netflix with the wife until 10pm, do another two hours of work and two hours of gaming. Bit of a slob lifestyle, but it works for me. Find what works for you…
- Understanding the rules of the game is crucial! Life is one big game and in order to do anything meaningful, you need money. This is really the only scoreboard that matters. So, as this is a game, you need to truly KNOW the game. Then you will be able to position yourself and out operate the general populous.
Some top tips to help you achieve more this year and over the next 20 years
Top Tip 1 – Change your thinking
Fully embrace First Principle thinking and make pure logic your ‘religion’. This means you need to question everything. The key with this style of thinking is to disregard all societal norms and rules and be target driven. “In order to achieve X, what needs to happen and by what time?” etc. “What is the straight line/most efficient way to achieve X?”
Top Tip 2 – Ask yourself if you really understand how the world works
It’s imperative that you understand how the world really works. Good books to start you off are Currency Wars by Jim Rickards and any other book he’s written. The Creature From Jekyll Island by Edward Griffiths is also a good book to start with.
Top Tip 3 – Forget everything you think you know about inflation.
This is a big topic with dozens of variables and people get confused with cause and effect. Ultimately, the fundamental root cause is the aggressive, chronic and exponential expansion of all fiat currencies. Monetary inflation CAUSES price inflation. It’s easy to forget this because there’s often a 12-24 month LAG between monetary inflation causing price inflation. What this really means is that because the currency supply expands roughly 15% per year, in order to break even, you NEED to ensure your investments are doing at least 15% ROI EVERY YEAR. This is why the only things I do (work wise) is Crypto and business. If done right, you can create a lovely positive symbiotic flywheel.
This is just a sample of my outlook. I’ve found it’s enabled me to position myself a lot better in life. More so than the mainstream outlook the general public typically harbour. Try jumping off that mental diving board, embrace this different outlook and give it a go for a bit…you’ll be surprised.
