A person posted a heartbreaking story and asked for money advice in a local community group. They said they are trying everything, work a good paying job, published multiple books, try to save, but they still cry daily over unexpected bills. They asked the community for money advice.
First I gave the standard BS response.
“Advice is always worth less than you pay for it, so this is probably useless. But my advice is, it’s not what you make, it’s what you spend. I love this quote: “you’ve already reached the goals that you promised would make you happy”. Don’t keep up with the joneses.”
But that was crap. It was fortune cookie wisdom that wasn’t helpful at all. I wanted to try to do better by them and give them a practical roadmap. So here it is:
“Actually I thought about this more. I didn’t give you tangible advice. Now I’m going to. This is what you do TODAY.
Pick the person in your life that you love and respect that you consider “rich”. Approach them and say: “I’ve always admired how you handle money and I’ve been struggling. Would you take me under your wing and teach me how to be rich?”
I have never met anyone that would turn down that request.
Next: give them EVERYTHING. Your credit card bills statements, your dark secrets, your mortgage, your W2 statements, your last 3 year tax returns.
Then commit to them that you’ll do whatever they say for 5 years.
Have them put you on a budget. Have them look at your skills and your work opportunities.
Have them coach you on interviewing for jobs.
Ask them to introduce you to other successful people.
I am confident this will get you to where you want to be in 5 years.
With one caveat: you must follow their advice and pick the right person to emulate.
I wish you nothing but success!
Bonus tip: never take money advice from people that don’t have it. And from my experience, often times the person driving a beat down F150 has $500k in the bank while the dude in a suit driving the BMW has $500k in debt.
Money SHOUTS.
Wealth whispers.”
That’s it. It’s simple. But it’s not easy. But anyone can do it.
I’m curious: What advice would you give them?