May 31, 2021

How to Become Financially Independent | How to Get Rich | 5 Rules for Financial Freedom

In this video I talk about how to become financially independent, how build your wealth and get financial freedom. I talk about 5 rules that I think the rich follow to get rich.

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These are just my observations and not financial advice. This is what I learned from watching the podcast “How to get rich” of Naval Ravikant and books like the Rich dad poor dad & psychology of money.

How is it that the rich gained over 2 trillion dollars while most of us lost jobs and experienced pay cuts? Why is it that the rich get richer and the poor get poorer. It’s because of the rules I mentioned in this video.

0:00 – Introduction
1:01 – Rule 1 – Earn with your mind, not with your time
3:29 – Rule 2 – Invest in assets & let compounding do it’s magic
4:00 – What is compound interest?
4:50 – Sponsored by smallcase
5:58 – How Warren Buffett Got Rich by compounding
6:19 – Rule 3 – Invest in assets, not in liabilities(read Rich Dad Poor Dad book)
6:58 – Buying a car or renting
7:25 – Buying a house and renting it out
8:07 – Rule 4 – Use Scale & Leverage through software, capital or labor)
8:50 – Rule 5 – Gaining knowledge continuously

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Hey!! I am Ishan Sharma, Second year Student at 📍 BITS Pilani, Goa 🏫 pursuing Electrical Engineering 🔌. I enjoy reading books 📚 and solving problems 📝 using Computer Science 💻. This channel is on college, growth 📈 and everything in between. New videos every week 📅. We’ll be talking about productivity ⏳, work life balance, career and more.

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How to Become Financially Independent
How to Get Rich
5 Rules for Financial Freedom
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how to become a millionaire at 22
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how can college students earn money
How to Become Financially Independent

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