How I Would Invest $1000 If I Were In My 20s

Summary

• I assure you that investing in skills training can lead to higher earnings, often surpassing the income of those with four-year degrees, sometimes within a year.
• At 18, you're basically skill-less in the marketplace. But gaining a new skill, like becoming a phlebotomist, can significantly increase your income after a short investment of time and money.
• Your potential to earn money increases as you provide more value by solving problems for others. The greater the value of the problem you solve, the higher your earning capacity.
• It's wise to save money, but while you're young (or at any age), reinvest all surplus funds into education that enhances your ability to earn, rather than into traditional investment vehicles like stocks or the S&P 500.
• Instead of passive investment in real estate, consider actively engaging in it to significantly increase your income.
• Traditional four-year degrees might not be necessary in today's marketplace. Practical skills and continuous learning through courses, coaching, and mentorship can be more effective.
• Invest in education like copywriting, media buying, or whatever skill increases your capacity to earn, viewing each course as a component of your entrepreneurial degree.
• Don't expect a single person or course to be your savior; learn from as many sources as possible. Look for free content first to evaluate the value before making a purchase.
• Speed up certification and learning to earn more quickly, reinvesting those earnings into further education and skill acquisition.
• Before you innovate with your own style, replicate successful models. Master duplication before making personal iterations.
• Don't get disheartened by incomplete projects ("half-built bridges"). Focus and finish one project before starting another.
• Skills stack exponentially. The more diverse and complementary skills you acquire, the greater your earning potential.
• Decide not to waste money on frivolous things and invest in yourself instead. Self-investment can lead to faster and greater financial growth than traditional investments.

Video

How To Take Action

I would suggest investing in useful skills, like becoming a phlebotomist – it doesn't take long or much money to get started. For anyone looking to grow income fast, grabbing a new skill can make a huge difference. Here’s a plan for putting this into action:

1. Identify a high-demand skill that interests you and that can be learned quickly. For example, phlebotomy.
2. Look for a short course or certification that is affordable and can speed up your learning.
3. Save money by living simply and use any extra cash to invest in classes or training.
4. Avoid getting distracted by too many projects. Complete one skill before moving to the next.
5. Once you've mastered a skill, teach yourself another related one. Skills stack up and make you more valuable.
6. Free resources like YouTube can be great for learning. Use them to get a feel for a skill before paying for a course.
7. Instead of spending on things you don't need, put that money into education. It pays off better than stocks or real estate investments.

Remember, the goal is to solve bigger problems for people – that's how you earn more. It's like building a bridge; make sure you finish one before starting to build another. Learn from successful models before you try to be innovative. And always, keep investing in yourself – it's the best investment you can make.

Quotes

"Your ability to earn money, to provide value to the marketplace and solve problems for other people, is how you will be able to make money"

– Alex Hormozi

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"The value of the problem that you solve and what you charge for it, the bigger that number is, the more you can charge"

– Alex Hormozi

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"Your earning capacity is going to be the thing that generates you wealth"

– Alex Hormozi

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"I believe that you should take all of the excess money, live as cheap as you can, take a hundred percent of that excess money and invest it in education that increases your earning capacity"

– Alex Hormozi

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"Skills stack exponentially"

– Alex Hormozi