Financial Literacy Video Library to FIRE

This is a page that will be continuously improved based on the best available sharable video contents. It showcases examples and learnings that can help you improve your financial literacy and achieve financial independence and retiring early (FIRE).

Financial Literacy

The Richest Man in Babylon | George S. Clason

Key lessons from the book about money:

  1. Start thy purse to fattening: save money.
  2. Control thy expenditures: don’t spend more than you need.
  3. Make thy gold multiply: invest wisely.
  4. Guard thy treasures from loss: avoid investments that sound too good to be true.
  5. Make of thy dwelling a profitable investment: own your home.
  6. Ensure a future income: protect yourself with life insurance.
  7. Improve thy ability to earn: strive to become wiser and more knowledgable.

Rich Dad, Poor Dad | Robert Kiyosaki

Rich Dad Poor Dad tells the story of a boy with two fathers, one rich, one poor, to help you develop the mindset and financial knowledge you need to build a life of wealth and freedom.

  1. For most people, their profession is their income. For rich people, their assets are their income.
  2. If I want to buy something, I must first generate enough cash flow from my assets to cover these expenses. Buy luxuries last, not first.
  3. Excess cash flow generated by my assets should be reinvested into other assets.
  4. Do not simply aim for more income, aim for more assets.
  5. Keep your expenses low and reduce your liabilities.
  6. Create a corporation to protect your assets and reduce tax expenses. An employee earns, gets taxed, and then spends what is left. A corporation earns, spends everything it can, and then gets taxed on what is left. This is the biggest legal loophole that the rich use!
  7. Know a little about a lot. Learn something about accounting, investing, markets, the law, sales, marketing, leadership, writing, speaking, and negotiating. An investment in knowledge pays the best interest.
  8. Work to learn, don’t work to earn. Find a job where you can learn one or more of the above-mentioned skills.
  9. Do not simply buy investments. First, invest in learning about investing.
  10. You will become what you study, so choose your study materials carefully. Find people who are the best in their field. Then study and emulate them.
  11. Every rich person has lost money at some point, but many poor people have never lost a dime. Playing not to lose money means you will never make money. “Winning means being unafraid to lose.”
  12. Failure inspires winners and defeats losers. When something does not work out the way you planned, let it inspire you to try a different approach. Learn and move on.
  13. Be in control over your emotions. Do not let fear or opinions of the general public dictate your actions. When stock prices decline, people run away. However, when the local supermarket has a sale, people buy as much as they can.
  14. Most sellers ask too much. It is rare that the asking price is lower than something is worth.
  15. Surround yourself with people who are smarter than you, and pay them well!
  16. Saying “I can’t afford it” shuts down your brain. Asking “How can I afford it?” opens up your brain and triggers your financial genius to come up with a creative solution.
  17. Pay yourself first. Each month, first invest a certain amount of money into income-generating assets before you pay your bills.
  18. Have a clear purpose in mind. Why do you want to earn more passive income? Write down yours, because it will keep you motivated.
  19. Listening is more important than talking. Do not constantly argue and think with your mouth, but instead ask questions and absorb new ideas.
  20. On the market: do not follow the crowd, and do not try to time the market. Profits are made when you buy, not when you sell.

Real Estate

Design Your Dream Life Through Passive Income | Alex Szepietowski

Alex describes his experiences as a young entrepreneur and the steps many others could take to follow in his footsteps. After interning in every industry he possibly could, Alex realized that, more than any job in the world, he wanted to be his own boss.

In 2012, without money or experience and in his 3rd year of PPE at York (Derwent College), Alex read ‘Rich Dad, Poor Dad’ and decided to start investing in property. He spent his student loan on learning how it was done, and 2 years later owned 24 houses and won a few national awards. Alex is incredibly passionate about inspiring others to believe in themselves and forge their own path, irrespective of their circumstances, or what ‘the norm’ dictates!

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