I turned 30 this past weekend. In my 20's, I raised my: - Income: $31k to $400k+ - Net Worth: $0 to $1.5 Million - And Built an online following of 200,000+ people Here are the top 30 things I learned along the way about Life and Business: - A MEGA Thread -

I present to you the highest paid player in NFL History.

Everyone in the United States should watch this video.

I have a buddy who makes $250k but: - Works 8-5 M-F then eats dinner - Then works 7p-2a M-TH - 8-10 hours weekend work - About 90 hours of total work per week - Phone on you 24:7 even on days off - Responses are expected ASAP 7 days a week Is that worth the $250k?

Money doesn't decide whether or not your kid will be a sh*t head. You do. Build Wealth AND be a Good Parent.

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Advisors provide value. However: - Is this service worth $700,000? - They don't help with 90% of your money life & - You can easily manage your own investments & meet with an FA here & there for things like estate planning or whatever w/o paying a huge ongoing fee.

6. They help with less than 10% of your financial life What they help with: - Stock Investing - Estate Planning What they don’t help with: - Teaching you about money - Credit, Debt, Savings - Real Estate - Entrepreneurship - Progressing in your career - Budgeting & a lot more

Yet, even fiduciaries are many times investing in front load fee funds, or funds with high expense ratios, and all are taking those high AUM fees. So are they really acting in your best interest? In most cases, no, not entirely.

5. They don’t have your best interest at heart Many advisors aren’t even fiduciaries, meaning they are not legally responsible for having your best interest when giving you advice. Insane.

4. Insurance policies I’ll keep this short. If you want life insurance, buy term life insurance. If you want to invest, invest. If you start combining insurance and investing like in your typical whole life insurance policy, you are doing both things worse. *In 97%+ of cases

Before we get to #4, let’s stop for a second: This woman was set to pay an extra $719,000 in UNNECESSARY COSTS. This is the TRUE cost of not having the financial education you need to not get screwed by the system that is designed to do just that. Now, onto #4:

Over 40 years, an extra .47% comes out to an extra $239,000 in fees over your lifetime. Why do financial advisor’s invest in ‘these funds…great question…

3. High expense ratios Expense ratio is a yearly fee for investing in a particular fund. On that same example: ACNFC has an expense ratio of 0.5% VOO is .03%

Her advisor suggested she switch $200,000 she had in cash to ACNFX. That would have cost her $7,000 for NOTHING. She could move it to VOO, which is better anyways for ZERO DOLLARS.

2. Front-Load Fees Front-load fees are fees paid to invest in a particular fund. Example: ACNFX cost 3.5% up front to invest in it. I worked with a woman yesterday:

Total Balance in Year 40: No advisor, no fee: $2,027,000 Advisor, 1% fee: $1,554,000 You paid $473,000 to the advisor.

1. Assets Under Management Fees Most advisors charge 1% yearly of your TOTAL balance. Example: You are 25. You invest $500 a month with the advisor for 40 years and earn 9% per year. They take 1% every year, here is the difference:

There’s a 89% chance your financial advisor is f*cking you. (And by f*cking, I mean costing you $300k-$500k or more) Here are the 6 sneaky ways they do that:

If you have to use Affirm, that’s an Affirmation that you can’t Afford it.