What no expert wants to tell you about building wealth

Quote of the week: “The first $100,000 is a b****, but you gotta do it”-Charlie Munger

It’s simple to build wealth: Spend less than you earn. Save and Invest the difference.

Once you figure out your system and the longer you stick to it, ‘simple’ also becomes ‘easy’. It’s what you do.

But here’s what no money expert wants to tell you:

Those early days are 70% will power and brute force, 30% strategies and systems.

I don’t care how good the system is: the shift from ‘Simple’ to ‘Easy’ won’t happen without a lot (A LOT) of grinding.

Because early on ? The outcome of finally managing to save $1,000/month or making your first investment is underwhelming.

“Great. I went from an investment portfolio of $0 to $1,000. I need to do this for 30 more years ? Is it worth it ?”

But then, a year in, you realize you have enough saved to cover 3-6 months of expenses if you get laid off.

A few years in, you realize that the value of your portfolio increased as much from gains as from the amount of money you put in.

By then, building wealth is a habit. 90% strategies and systems, 10% will power and brute force.

TLDR: It’s going to suck for a while. But, it’s worth it.

Does it mean you shouldn’t have a plan ? Of course not. 

You just have to be ready to struggle to land it.

I have 3 rules of thumb whenever I build a new system for myself.

But first, I’m proud to feature a newsletter I’ve been subscribed to for 3+ years:
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1. Prioritize and take on one thing at a time.
   
   Are you living below your means already ?
   Do you have an emergency fund ?
   Are you investing ?
   

2. Set achievable but impactful goals.
   
   I find that the right goal is just outside my comfort zone. If I can easily save $400, I aim for $500.
   

3. Celebrate doing the right thing.
   
   This is especially true with investing. You don’t control the market. There are some years you’ll invest every month and all you’ll have to show for it is a -10% drop…
   It’s still worth celebrating the fact you invested.

How I can help:

This stuff only works when you do something with it.

When you’re ready to ditch guilt-budgeting and build a money system that feels good to use, here's how I can help:

1. If you’re a Do-it-Yourselfer, grab the guide:The Busy Beginners' Money Guide to Build Wealth & Spend Guilt Free - A step-by-step way to set up your money for peace of mind + everything I wish I knew about ETF investing.
   

2. Need some 1:1 help ? Reply to this email: We can work together to uncover the source of your Financial Anxiety, what your Financial Values and priorities are, craft a plan to achieve them and align your spending with what brings you fulfillment The first session is 50% off ($50)
   PS: The 1:1 coaching sessions are designed to empower you to build your own Strategies and Systems in as little time as possible.
   No investment or tax advice

See you next week!

The information contained in this newsletter is for general informational purposes only. It should not be construed as financial or investment advice. Please consult a qualified financial advisor before making any investment decisions.