If you're interested in my thoughts and what the rich people are teaching, then definitely keep reading. These simple yet powerful rules include investing in assets, sticking to a budget, valuing time over money, finding the right circle, maintaining consistency and discipline, focusing on increasing income, and the power of manifestation and visualisation. Follow these insights and start your journey to financial success today.
I wish I knew these seven rules on how to get filthy rich when I was in my early 20s.
If you're interested in my thoughts and what the rich people are teaching, then definitely keep reading.
I want to focus on how rich people are getting richer because of a few simple rules.
I’m fortunate as I get to talk to a lot of rich people such as:
Now, I want to share with you seven rules that are super easy to implement if you have:
This is why, when we delve into topics like this, I aim for you to gain valuable insights. Whether you're interested in:
It’s the main core principles that matter. That's why I know that there's certain people in life that you just see and you're like: “Doesn't matter what they do, they'll still be super successful.”
Why? Because they have the right mindset and the right infrastructure around them.
Number 1 Rule: Invest into Assets
Think about all the people who got rich. It was not by saving their money in a bank account but by investing that money in assets.
This is where the common thought came from: Get passive income from your investments, and this is how you retire rich. It's your money working for you, and that's effectively what we're trying to do.
So, if you look at the last 10 years and you were to go out and:
The shares and property you’ve invested in would mean that your wealth has grown further than if you simply saved that money.
Now, there are two reasons for that:
These two things have been such big topics in the last couple of years, and this is why you've seen such a big divide between the rich and the poor.
If you've been making more money than ever before, and yet you still feel like you're just able to survive, that's because inflation has absolutely killed things in Australia and around the world. That’s why if you've invested well and you continue to invest well throughout your journey—in your early 20s, 30s, 40s, and 50s—you set yourself up for a lot of success later on.
I always mention this on my Youtube Channel: You've got more energy in your 20s and 30s than you do in your 60s and 70s. So if you have the choice right now to get hungry and hustle, why wouldn't you?
Because I would much rather do it when my bones aren't hurting as much. Although, I'd say that I'm almost 32 now, and it's starting to hurt a little bit, it’s going to be so much better to do it now and stay hungry versus when I'm in my 50s and 60s.
Now I want you to stick around, learn all of the rules, but especially the last one I have because that one is the easiest to implement and it’s something I do every single day without fail, so be sure to wait for that.
Number 2 Rule: Stick to Your Budget
The next rule is to stick to your budget, and it's usually the 50-30-20 rule.
I've spoken about this on my YouTube channel before, but if you haven’t visited it, I'm going to give you a brief idea of what the 50-30-20 Rule is.
You want to see what you make at the end of the week and allocate:
Now, some people will look at this breakdown and say: It is completely impossible for them to do any investing because maybe 60% or 70% of their income goes towards household needs, be it rent or mortgage repayments.
Then, there might be a few of you saying: "Hey, I actually spend a lot less than this rule, and I invest a lot more." This is how you find yourself going above and beyond when it comes to your net worth. This is how you outgrow the median and find financial freedom a lot earlier.
If at the base level you can stick to 50-30-20, you'll do really well.
However, if you can start getting that 20% all the way up to 30% or 40% of your income, that's when you're going to start seeing compounding gains in the next 10 to 15 years grow exponentially. The more you do now, the bigger impact it has later on.
Number 3 Rule: Focus on Time, Not Money
Focus on time, not money.
What I mean by this is that time is your biggest asset, and everyone knows that, but yet, we spend so much time scrolling on TikTok aimlessly.
Now, honestly, the next time you scroll on TikTok for, say, 10 or 15 minutes, I want you to write down exactly what you consumed in that time. More often than not, you're not going to know because we are just so ingrained in this habit of wasting our time.
Okay…I’m NOT saying you should throw technology out, but there is a place and time to just chill. There's a time where you just need to de-stress and take it easy, but in the time you’re meant to be hungry and going out there kicking goals, you better be super efficient.
When I think about “time as my biggest asset,” I say: "Okay, in my working week, if I'm working 50 or 60 hours a week, how much do I make? What is my hourly rate? And any task that I physically have to do myself that is less than that value I will outsource."
An example of this is…(my parents, uncles, and aunties absolutely hated me for this), but when I moved out with my then-girlfriend, now fiancée, we ended up getting a cleaner very early on. We weren't making a huge amount of money, but we thought if I was going to build a business, I wanted to spend all my time actually building the business, versus doing tasks that:
For example:
You get a cleaner and it costs you, say, $70 an hour,
You get this cleaner for 2 or 3 hours,
Now, these 3 hours, which could cost you maybe $210 on a Saturday, could be spent doing something else.
Now, if I do the third option this week, and I do it next week, and the week after that, think about how much of that compounding growth could lead to more money later down the track.
If you're someone (like myself who runs their own business), I would find 2 to 3 hours in my business on a Saturday, when everything's quiet to be more effective in some cases than what I do on a Thursday or Friday in the office.
Once you start thinking about time this way, money, and how you need to outsource everything that doesn't bring you that return on investment, you start making a lot more in the same 24 hours that everyone has.
Number 4 Rule: Find Your Circle
You know saying: "You're the average of the five people you spend the most time with"
We've all heard it before, right?
But write down the five closest people to you. I'm not talking about the people you love the most. I'm talking about the people you talk to the most, such as:
Write them down. This is a really fun exercise and can also be impactful on your life moving forward, but it could also be quite harsh.
Now, when you put those five people down and realise they aren’t talking about:
Instead, they’re very negative, they focus on what celebrities are doing, what the royal family is doing, or just gossiping in general—You need to replace those people.
I know it sounds super harsh, but I did this in my 20s, and I'm so grateful for it. Levelling up and accelerating is what you need to be doing right now.
If you're serious about:
This opportunity is like being in the top 1% of people who actually get to experience it. If you truly desire this lifestyle, you'll need to make some changes. I understand that some of these changes might not sit well with you, but they (the changes) could start as simply as replacing one person with someone else. It might even mean occasionally saying “no” to things like going out.
Number 5 Rule: Consistency and Discipline are the Keys to All Wealth
If you're someone who watches sports, you'll see some athletes who are absolute freaks. You see them naturally talented. It doesn't matter what sport they're in; you can just tell they've got a natural ability at that sport.
But then you often find that they never get to number one or number two. That’s because they don't have the discipline or they lack the consistency in their training and the right mindset.
So, if you're going out there, say:
You’ve got to look at what your competition looks like and say: “Okay, if I can outwork them even if my talent doesn't meet their level, I could still get further ahead.”
If you can plan your week with discipline, stay consistent, and manage your time effectively, you are going to outperform most people in general.
Number 6 Rule: Focus on Making More
I know there’s so much content out there that’s very defensive in mindset. I am referring to content such as books that tell you:
“Save more.”
“Don’t take on debt.”
“Pay off your debts.”
These perspectives are very negative. It's similar to how some people dictate how others should raise their children. I've seen this among my friends and family, where they say things like:
“Don't do that.”
“Don't listen to that person.”
This is all negative language. If we can shift this to thinking:
“How do we create more?”
“How do we have more?”
“Instead of doing this, how do we do that?”
These are more productive, thought-provoking, growth-oriented, and abundant mindsets.
So, when you say: “I want to save more,” you can only ever save 100% of your income, right?
But if you say, “I want to make more,” then that potential is infinite. You can go out there and:
Your income potential is so much greater.
Some people might listen to that and say, “Well, okay, it doesn't matter what I save, I can just go out there and make more money, and you know, have lifestyle creep, which means my expenses also increase.”
The big difference here is what the rich have done, which is: They've increased their income, but while their expenses do increase, they don't increase at the same pace. This gap they create goes into further investing, and those assets increase their net worth, which gives them more choice.
Now we've arrived at the final one, and the reason why I believe in number seven so much is because it works. I know that some people when I say this will go, “Uh, I don't know. This seems like a bit of fairy dust or a bit of Juju. I don't like this.”
The reality is it’s worked in my life, and I'm so happy about it because people around me have also implemented this, and it works.
Number 7 Rule: Manifestation and Visualisation
Thoughts become things.
The more you think about certain things, the more they come true.
Something that you can start with is the real basics, which is just transitioning from negative language to positive language.
Think about how long you can go throughout the day without complaining. This was a significant challenge for me—realising that I could only last about 15 minutes before being negative about something. Gradually, that 15 minutes became an hour, then 3 hours, and eventually 4 hours.
Now, I'm not perfect, and there might be some negative thoughts that come through, or I've responded to something negatively, but that's okay. We're human. But if I can reduce how much of that is happening in my life, everything becomes positive.
There's a positive energy that goes out there, and the universe then says, "Hey, you know what? You've got good vibrations. I'm going to bring some luck your way too." This is how you create a process of high vibration, and that's how you start getting into better conversations with better people.
For me, manifestation and visualisation are so important that I practise them every morning. I sit for 2, 5, or 10 minutes, depending on how much time I have, and think about what my ideal lifestyle looks like. I envision this lifestyle in a 12-month period, then a 3-year period, and finally a 5-year period. I then reflect on how good that life feels, and say: "Well, that life feels really good,” imagining what a day in that life would be like.
If I'm really happy about what I was visualising, I then say, "Okay, I need to lock this in. How do I get there?"
Once I've established the goal, I work backwards, reverse engineer, and say, "Are my tasks today—what I am doing today—going to get me to that point?"
This is my process. It works for me, it has worked so far, and it's going to continue working because I believe in the process.
I hope you guys have enjoyed this article.
If you have any other ideas that have worked for you, drop me a line directly at ravi@searchpropertyau.com.au - I’d love to know your story. In a time where everyone is really negative, I want to make this special community we have spread some positivity around.
So, share this with someone that you think really needs it today, and I'll catch you guys in the next one.
Thanks, guys!
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