This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
Here’s what I would do if I had to start all over again and what I’m doing now
One of the biggest ways to create wealth is to live below your means. This is the foundation for any type of wealth. If you live above your means, you’re going to run out of money at some point.
If you earn $1,000, don’t spend $1,000. Spend 50–90% of that and save and invest the rest. The less you can live on, the more you can invest into your wealth bucket.
2. Multiple income streams
Don’t rely on one income source. Always have more than one income source to protect yourself financially and diversify where you get your money from.
Just as you should diversify your assets, you should also diversify where you get the money to invest in assets. This keeps you more fluid and flexible and mitigates dependency.
3. Set up an emergency fund
An emergency fund is one of the most crucial account types to set up. Set up this fund to protect you from unforeseen circumstances and surprises that require financial resources.
Emergency funds are designed to protect you and prevent you from going into debt or hurting yourself financially. They make you more economically bulletproof.
Some recommend building a 3–6 month emergency fund; this is a great start. But imagine how you might feel if you build a 1–2 emergency fund… probably a little bit safer, confident, and financially relaxed.
4. Invest consistently and aggressively
If you want to build wealth, don’t allow your money to sit in a savings account. Instead, put your money to work for you by investing it in fruit-bearing interest accounts.
And don’t stop investing. Many people invest but don’t stick with it, or they end up withdrawing their money. The longer you leave your money alone and the more money you put into investments, the harder it will work for you. Keep your money invested.
5. Attend more personal finance conferences.
I wish I had started attending more finance conferences earlier. Not just for the knowledge but also for the people you meet in these environments. It’s true: your network is your net worth.
Invest in your education via books, webinars, and mentorships, and surround yourself with learning environments a couple of times a year to meet new people, mastermind/brainstorm, and make new financial connections to elevate your net worth.
6. Surround myself with more people who are financially succeeding
Are the majority of the people around you broke or financially successful? Are the majority of people around you flourishing and thriving, or are they struggling and complaining about money?
The people you surround yourself with will affect you and your finances. Don’t people from diverse backgrounds, but ensure you’re elevating your mindset, goals, and habits by surrounding yourself with people who are doing better than you.
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This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.