 In today's video, I'm going to be giving you 10 different principles to help you start building wealth right now. I'm going to be a very rich dude. Now quick disclaimer, if you are in between the ages of 20 and 30, so if you're not yet in your 30s, if you're still in your 20s, then I highly suggest you start implementing some of these principles as soon as possible. Soon as possible. The quicker you can start getting started with any of these, the better. Remember, building wealth is a marathon, it's not a sprint. It's a marathon, not a sprint. It's something that takes time, so the sooner you get started, the better. But with that being said, if you're not in between the ages of 20 and 30, if you're in your 30s, if you're in your 40s, even if you're in your 50s, you can get started today. And again, I highly suggest you do because the earlier you get started, if you haven't done so already, the better. It's never too late to get started, so make sure you check out this video all the way through because chances are you're going to learn something new, something that can help you out along the way, and ultimately something that you can hopefully build up to be able to pass down through the generations. Everyone comes from generational wealth. So hopefully this video can help you get started off with building up new generational wealth that you can then hopefully pass down. And with that being said, let's go ahead and get started. So out of the 10 principles, the first one that you need is the basic foundation, and that is you need to be disciplined. You need to stay disciplined throughout the entire process. Of course, there's going to be times here and there where you're going to slip up, but that's OK. As long as you follow a basic rule of 80-20, 80% hard work, 20% rewards, you should be on a good path to building your own wealth. Now, with that being said, being disciplined is number one for a reason. If you can't stay disciplined with one of these different principles, then chances are with the rest of them, you're not going to be able to stay disciplined or focused either. So make sure you get on the right mindset. Make sure you focus and make sure you stay dedicated. Trust the process. It's going to be worth it in the end. Next up, you need to set a clear goal. Now, that goal is going to really be dependent on what you want. My goal could be completely different than what your goal is. Right now, one of my goals is to be able to save up and actually purchase my dream house. Of course, that is something that's going to take quite a while to achieve because living in South Florida, it's really expensive. But that's beside the point. The point is I'm taking my time getting to that goal. Now, how can you make that goal easier? Whatever that end goal is, whether it be to buy your own house or purchase a bunch of different properties so that way you can later on rent or even just buy your own car or save up enough money to be able to retire comfortably. Whatever your goal is, one of the most important things that you need to do is to break that goal down. You need to break it down into multiple goals that are easier to achieve. That way, each milestone is more or less of a visual representation of where you are in the whole grand scheme of things. So make sure one of these days you sit down, you focus and you find out exactly what you want. Is it to be able to quit your job? Is it to be able to retire? Is it to buy a house? Is it to buy a car? Whatever it is, sit down, start writing down a few different steps to be able to get to it and set different milestones that eventually reach your ultimate goal. Now, one huge tip or one secret, whatever you want to call it that every single wealthy person or millionaire follows is not to overspend money on things you don't need. Don't spend money on things that will depreciate in value in the long run. At least not yet. Time and time again, people go broke, people go bankrupt, they lose all of their money because they cannot control their spending habits. And that is something that is absolutely crucial that you need to start controlling. If you can't control how much you swipe your credit or your debit card, then how do you expect to build wealth? How do you expect to save money to reach that goal that you want? You're not gonna be able to. Every single time you make a little bit of money, you're gonna waste it. You're gonna waste it on something dumb that has absolutely no value. And at the end of the day, it's probably just gonna sit on your shelf. And let me tell you that I'm talking about this from experience. Case in point, I like to purchase a lot of different anime figures. I like to have a lot of these on my shelves. I think they look great. I absolutely love them. I love anime. But it took me a while to be able to realize that I can't keep purchasing these on a consistent basis. These are expensive. And at the end of the day, it all adds up. At one point, I was trying to save up money for a vacation to go over to New York City. And I realized it was taking longer than expected. And I started thinking, why? So I sat down. I started writing down what I'm spending my money on. And I realized I'm spending money in the wrong places. So because of that, I learned that I shouldn't be spending as much money. I'm not saying don't spend the money. Of course, eventually you're gonna have to treat yourself. It's human nature. You're gonna have to reward yourself. But don't overdo it. Don't do it on a consistent basis. Do it sparingly, because this can really hurt you in the long run. Instead of spending money on a bunch of random stuff, reinvest it back into whatever you're doing, into your own business, into maybe stocks, into something that will eventually appreciate and value. Now talking about buying useless stuff, of course we all have our guilty pleasures. As you saw mine, anime figures. I mean, you can't really see it in the frame here, but I have a bunch and a bunch of different shelves I have on the walls. So that is my guilty pleasure. I like spending money. I like spending money on these cool little figures that I just like to have on display. Some other people like to purchase a bunch of jewelry. Other people like to purchase cards. People collect mugs. People collect coins. Whatever it is that you collect or whatever it is that you like having, whatever it is that you like spending your money on. Like I mentioned earlier, you don't have to stop, but do it sparingly. And one way to help you control it is through the next principle, which is setting a reward system. So if you set a reward system, you can go ahead and reward yourself or you can treat yourself whenever you meet a certain milestone. Let's say you wanna have X amount of dollars saved up in your bank account. That, for example, is one milestone. Once you meet that milestone, you can reward yourself. But then you need to hold off until you reach your next milestone, whatever that milestone may be. Now, as you can see right here, you have the perfect example of staying dedicated. A lot of people are gonna see something in between the two milestones and they're gonna say, I need this and they're gonna start spending their money again. Remember, go back to the foundation of everything and stay dedicated. That is gonna be the key to pretty much absolutely anything in life, dedication. Up next at number five, our fifth principle is start a side hustle. Start building extra money on the side, whether you run your own business and you're working for yourself or if you're working for a company, if you're working for a corporate, if you're working for a restaurant, wherever it is that you're working, start a side hustle. Now, I know side hustles honestly can be a lot of fun. I've always loved doing my side hustles. At one point I actually used to work IT. I used to work in an office taking tickets and fixing the most common computer problems and it was the same thing over and over and over and I got so sick and tired of it. So at that point I decided, you know what? I'm stuck here, I'm not gonna get a raise, I'm not gonna get promoted and I don't like it. So I decided to start my side hustle. At the time I decided I'm gonna start making t-shirts and I'm gonna start selling t-shirts around my area. I started doing that, I made a couple bucks and then I discovered drop shipping and then I started drop shipping as well. Long story short, starting a side hustle really helped me succeed in what I was doing. It helped me out with getting rid of a bunch of debt and at the end of the day, best of all, it actually helped me out with being able to take a nice little vacation and to just get away from everything. But of course, as soon as I got back it was straight back to work. Now having a side hustle can also be really rewarding for the simple fact that it can eventually overtake your own job. Eventually, if you don't like what you're doing and you succeed in your side hustle, you could potentially start focusing on that and ultimately quit your job. But that in itself is another video. If that's something that interests you, if you wanna learn about how you can quit your job and start your own business or how you can quit your job with a side hustle or if you just wanna be able to quit your job, let me know down in the comments below. I wanna hear from you. I have my story of how I was finally able to escape the nine to five and if that's something that interests you, if you wanna hear it, if hopefully you can find it inspirational, just let me know down in the comments below. But I will say this, when it comes to starting your own side hustle and working a corporate nine to five, it can get very tiring. But at the end of the day, it is very rewarding. Now, next up, what do you do with all that money that you start making with your side hustle, with your job, or with whatever way that you're making it? Well, you need to either save it or even better, reinvest it. Reinvest it in appreciating assets. If you have a nine to five, if you're working a corporate job, then chances are you can probably start a 401k. If you can start a 401k, then that is an absolute godsend. Trust me, if you have the ability to start a 401k, the earlier you can do this, the better. If you're in your 20s and you have the option to do it and you haven't done so yet, open a 401k with your employer. The reason being is because most employers match, however much that you're contributing. Most of the time, they do have a limit. That could be four or 6%, but at the end of the day, a 401k is basically free money. Let's say you decide to contribute 4% of your $1,000 paycheck that you get every two weeks. 4% of $1,000 is gonna be $40. Now you contribute $40 and then your employer is gonna match those $40 and then they're gonna contribute $40. And boom, you got 80 bucks right there. You just made it double with literally doing nothing, just putting away your money. Now of course, that does sound like a very low profit or like a very low investment, but if you make more than that, then chances are you're gonna be able to contribute a little bit more. And of course, the more you contribute, the more that your employer is gonna contribute as well. Of course, to a certain limit, usually four to 6%. Aside from that though, if you don't have the option for a 401k, then you can go to a bank and you can open up a Roth IRA. A Roth IRA is essentially a retirement savings except you don't have somebody to match however much you're contributing. Aside from that, you can also invest in stocks. And when I'm talking about investing in stocks, I mean invest in stocks for the long run. And don't just invest in any stock either. Invest in stocks that have potential. I know that's kind of hard to find and I know that is something that's easier said than done, but you can always invest in something like an index fund which typically speaking, of course the gains aren't gonna be these huge returns like it was when the whole thing happened with GameStop. That is a once in a lifetime opportunity and if you were able to get some money out of that, then lucky you, I did not. Although I really wish I had had the opportunity to do it, but I kind of got scared because it was a meme at the time, but some people made some crazy money from that. But that's beside the point. That's not the proper way to build wealth because those are once in a million chances. Another way that you can invest your money is into real estate. You can purchase properties and then you can sell them or you can flip them for a few bucks more later on down the line, whether that be weeks, months, or years later. Now this is something that honestly, again I had the opportunity to do this at one point but we ended up not doing it and I highly regret it. Right now in South Florida, you can get a three bedroom, two bath house, two stories with a tiny, tiny backyard. And on top of that, it's a townhouse. So it's connected to another unit. You could buy one of those maybe two years ago for about $600,000. About five or six months ago, I was looking into one that two years ago was running for about $600,000. And you know how much it was selling for five or six months ago? $1.2 million for one unit. Do you know how crazy that is? That almost doubled in value. No, it did double in value in a measly two years. Real estate is something that's gonna consistently keep on going up. Of course, there's always a chance of crash. There's always a chance of a bubble popping but depending on the city that you're looking into, depending on the city that you're living or the state that you're looking to purchase property in, real estate can be an extremely lucrative business. And not only do you have to purchase them and flip them, you also have the option to purchase them and then just rent out the different units. Now let me stop here for one quick second and I'm gonna go ahead and ask you, if you're enjoying this video, if you're finding it helpful, if you're finding it informative, please make sure you smash that like button. And while your mouse is right there, just go ahead and scroll over a little bit to the left and hit that subscribe button. One last thing is hit that little bell notification so you don't miss out on any future videos. Now let's go ahead and get back into it. Next principle we're gonna talk about is always look to keep boosting your income. And what I mean by that is keep on looking for more ways to bring in more money. Now that of course sounds a lot easier than it is, but it's not really that complicated. Think of it this way. All you really have to do is look for new income opportunities. Look for ways to make money online. Look for ways to be able to make money on the side. As I mentioned earlier, you can start a side hustle. And then once you have that side hustle up and running, you can start other side hustles. Whether those side hustles have something to do with each other or completely separate industries or categories, having multiple side hustles can be very beneficial. And if you're able to start a side hustle that you can use to create multiple side hustles within that side hustle, full that's like side hustle inception. I honestly lost track of how many times I said side hustle by now, sorry about that. But what I'm getting to is if you can start a business or if you can start your hustle where you can use the resources from that business to start multiple different businesses, then that's even better. That makes things so much easier. Take for example, dropshipping. If you're a dropshipper and you start up your store all by yourself and you understand the ins and outs of it and you're pretty much running everything on your own, then you can easily start a few different hustles from there. For one, if you design your own website using, let's say Shopify, and it actually came out pretty good and you did pretty well, then you can start designing different stores for different people. You can start charging people to design their stores while you're still running your dropshipping store. Aside from that, you can even become the middleman for certain products. So you can talk to a supplier, gain access to a certain amount of items at a specific price, and you can start offering that to different dropshippers. So that way they purchase from you and then you purchase from your supplier. Let's say you're an artist and you sell art. Let's say you sell your wall prints, you sell canvas prints. You can also sell your images digitally. There's multiple ways to make money from one business. And really it's up to you to be able to find what works. It's up to you to be able to find the different hustles that you can get from one main hustle. Now of course, starting a bunch of different side hustles can get very time consuming. If you're dropshipping and you're running your own dropshipping store and you're doing everything manually while still being able to build other people's Shopify stores and maybe even doing product research for them, your hands are gonna be pretty tied and you're gonna be capped pretty quick. You're gonna be running out of time, you're gonna be running out of energy and that is where our next principle comes into play. And that is automate what you can. Automate anything and everything that you're able to. You can automate your investing, you can automate your savings, you can automate pretty much anything. To start, let's talk about automating our hustles. So going back to the dropshipping example, if you're doing everything manually it's gonna take a lot of time. So in which case you can start to implement automation. Using a software like AutoDS, you can go ahead and use AutoDS to be able to import your products, optimize titles and descriptions, keep track of your stock, keep track of all your inventory, all of the prices from your suppliers and even automate your order fulfillment. So at the end of the day, all you have to do is do a little bit of product research and maintain your website. Stay up to date. The rest of the business is handled by AutoDS in this case. That way you can start to focus a bit more of your time on some of the other hustles. For example, building Shopify stores for other people. If you have your dropshipping store automated then you can put in a little bit more time into looking for more clients and actually building different websites for your clients. But that in itself can also start to get very time consuming. So why not automate that as well? Start looking on Fiverr. Look for different people that offer their freelancing services for website building, for Shopify building. There's tons of people on Fiverr that are offering dropshipping stores. They'll build it for you from A to Z at some pretty cheap prices. So you can leverage that. You can go ahead and get a client, get everything that they need and then run on over to Fiverr and then pay somebody else to do it. And then the difference in price, you end up keeping, that's your profit. Now another thing that you can automate is your savings account or your Roth IRA or your 401K or whatever it is that it may be. Now, why would you wanna do that? Because it takes away from you having to manually transfer money. It sucks taking money from my checking account and putting it to my savings account and knowing that I'm not gonna touch it. Although by this point I'm pretty used to it. It still sucks, you know, you see it and you're like, I could have bought that surround sound that I really wanted or I could have bought that new TV or Spider-Man's coming out. I really wanna buy the special edition of it. Dedication, my friends, stay dedicated. But that's beside the point, automate what you can. So you can start to automate your transfers. You can set automatic transfers to go through every single time that you get paid or maybe once or twice a month. So that way it just happens overnight when you're not even paying attention and next time that you log into your bank account, you're not even gonna know that something was taken out. And honestly, at the end of the day, maybe four, five, six months from now, you look at your accounts, you look at your savings account and it feels really good to be able to see it growing. The higher that number gets, the better you feel. The next thing that you wanna do our ninth principle is gonna be to network. Network and build relationships. The reason for this is because you never know who can help you out the most. So how do you network? How do you meet new professionals in your industry? How do you meet new professionals in your area? Well, it's actually a lot easier than you think. For one, you can check out LinkedIn. All you have to do is simply go on LinkedIn, sign up and create a profile and fill it up with all of your expertise, all of your licenses, all of your experience and all of the different jobs that you've done. Trust me, people are gonna find you. People are gonna send you messages. Some of them are gonna be fake. Some of them are gonna be real. But on a platform like LinkedIn, you're able to find a lot of different professionals in the same profession that you're in or in the same industry that you're in. And this in itself can help you network with new people. Somebody could take a look at your profile. They'll like your experience. They'll like a project that you worked on and then they'll reach out to you. Whether that be for a job or to work on a project or even to just be friends on LinkedIn. It's always good to have different connections and different professional relationships. Aside from that, you can always go to a conference. So if you're into crypto, there's always gonna be some sort of crypto convention somewhere in your area. Crypto's huge, not as big as it used to be, but it's still a pretty big player in the scene. Not into crypto, you like e-commerce or you like dropshipping. Then Shopify just had a convention in New York City not too long ago. And they don't just host these things in big cities like New York. They host them all around the world. So make sure you check out different conferences, different events, go to them, take your camera, start filming, start taking pictures, start handing out your business cards, talk to new people, get out of your comfort zone. And with that, we actually lead to our 10th principle. And that is take calculated risks. If you don't take a risk, you're never gonna know what could have been. Of course, you need to be very careful when taking certain risks, like let's say, quitting your job. You need to be very careful and you need to make sure that you have some sort of plan. You need to make sure that you're prepared for failure just in case things go wrong. Now, I'm not trying to discourage you or anything, but you need to be realistic. Things can go right, things can go wrong. Either way, it's good to be prepared. And those are our 10 principles to help you start building wealth. Hopefully you found this video educational. Hopefully you found it informative. Hopefully it helped you out. And hopefully it inspired you to actually get started with whatever it is that you're doing. Remember, you don't have to be like these huge gurus that tell you that you need to wake up at four in the morning and you need to start reading a book and you need to read an entire book in one day. And then by seven or eight in the morning, you need to be running 10 or 12 different miles. No, that is all complete BS. That is not something that is realistic and it's not something that's achievable to be able to build your wealth. These people have all the time in the world to do those things because they already have their money. They're not working a nine to five and a side hustle. If they were, trust me when I say, they would not be up at four in the morning reading an entire book and then going out to run 10 different miles. They just would not have the energy. They already put in the work. They already did all the grinding that they needed to do to get to the point where they are. So when you see somebody saying that you're not motivated enough because you're not doing this or you're not doing that or you're just not following the plan that they're doing, just keep in mind, they already have the time to be able to do these things. They don't have to worry about working up before in the morning. They don't have to worry about going to their nine to five job. They don't have to worry about running a business on the side just to stay afloat. So with that, we're gonna go ahead and finish off this video. And once again, if you enjoyed it, please make sure you hit that like button and make sure you subscribe. It truly helps the channel grow and it lets me know that you're liking these different types of videos that don't necessarily have to do with 100% drop shipping. And with that, my name is Mario with AutoDS and I'll catch you all next time.