How I Doubled My Networth Every 2 Years | BeatTheBush

I’ve somehow managed to increase my networth 37% every single year or 100% every 2y3m or 10 fold increase in just 7.5 years! It’s an amazing feat that I never thought was possible from the beginning but somehow it just keeps going. Much of the methods I have talked about on this channel and this sums up some of the major methods on how I did it.

How’s it going everybody this would be to bush today i’m going to reveal something about my networks i don’t normally go and tell anybody most of you that watch my other videos would know that i recommend tracking your network because the act of tracking it kind of increases it in itself i personally started doing this about eight years ago and ever since i started

Tracking it it has increased about thirty-seven percent every single year now this is thirty seven percent compounded it’s not just thirty seven percent from the first year so if i were to tell myself at the very beginning that this is going to happen i would be like no way i didn’t think it would ever go like this and this compounding of thirty seven percent every

Single year has gone on for the last seven and a half years in other words this is about a tenfold increase for my initial net worth seven and a half years ago put another way this is kind of like doubling your net worth every two years and three months now just to give you some real data here’s the actual chart i use to track my net worth over the last seven

Years the bottom x-axis when you see at 9 is actually 2009 and it goes up from there all the way to 17 which is 2017 not for obvious reasons i actually remove the y-axis because i don’t actually want to give out the exact net worth number anywhere you can have a guess but the information i give in this video really does not say what my exact networks is today

And this is on purpose all i’m saying is whatever i started out with it could be one thousand dollars or ten thousand dollars but seven and a half years later is 10 times so let’s say i started with one thousand dollars now i have ten thousand dollars or if i started with ten thousand dollars maybe today i have one hundred thousand dollars the whole purpose of

This video is not to give away my network but to show you the rate of increase at which i’m increasing my network this is not for me to show off to anybody or to anybody that actually watches this video the purpose here is to draw attention to how fast i can actually increase my network every single year and to tell you how i actually do it now in order for you

See also  HD650 vs UE900 vs TripleFi10 vs Dr. Dre Beats Studio | BeatTheBush

To increase your network drastically like how i did basically there’s a whole bunch of common themes that run across my whole channel this includes living within your means i’m an engineer actually and i spend way less than my entire salary of course another point is to not try to look rich because when you try to look rich you actually spend a lot of money and

It’s decreasing your network interesting that the people that strive to look rich are the people that do not have a higher and higher net worth when you start collecting your networks and start concentrating on it you kind of look at your expenses in a very different way you start to think about whatever decision you make how does it affect your bottom line are

You losing money in this transaction or not whenever you buy something flashy of course you’re going to see your bank account go down and then this is unreclaimed money because when you buy that factually item there’s a lot of depreciation that goes along with it depreciation is on my mind a lot whenever i buy something so the best thing you can do is to try to

Minimize the amount of things that you buy that depreciates a lot so this place that you see right here i actually own this place i do not rent a lot of you have asked this before and i contemplated a really long time in this video i feel like it’s where i need to tell you this because i’m making a video about increasing your networks and this is a big part that

Helped increase my networks at the rate it did i also want to kind of drive home the point of the stuff i actually own the stuff i own may not be all that flashy these couches are actually fairly cheap i bought them on amazon it might be expensive to you but i definitely could look went to macy’s and spent maybe like three thousand dollars on couches but instead i

Think i paid more like i don’t know a thousand dollars for both of these instead this dinosaur here i really like it actually didn’t pay anything for it because there was a salvage stuffed animal this is called an ugly doll it’s very ugly but it’s very cute and it’s called an ice bat i got this at a white elephant and thanks annie and brian who actually brought this

Gift there the steak was $20 i bought it at the maker faire this p thing i really like also it’s about 25 dollars i think this table here is also a salvage item and used to look really really ugly it had a stain on it because it was left outside but i decided to sand it down and then i painted it white and now it looks you know really good actually the stain is like

Buried underneath over the paint of course this lamp here came from my coworker anthony who gave it to me when he left for australia he just kind of stopped working and then picked up everything and went there i guess we may realize from my older videos i had a dyson fan here i actually sold that man because it wasn’t that functional to me and i felt like i put

See also  Tesla Stock Crash as Elon Musk Fires 3,000

They’re just kind of it was like a show i am and i actually didn’t really need it anymore the shirt i got for free from banana republic i think these jeans are also banana republic and i got these for free as well so my point with just pointing out all the stuff around me right now is that wow look i didn’t buy anything around here it seems the point i’m trying

To make is all this stuff actually doesn’t cost me all that much and yet i really like all these items now if i were to summarize what actually made this 37 percent increase in net worth every single year it’s probably a whole bunch of different things there’s just an attitude with accumulating net worth one thing i did about five six years ago was to kill off

All the monthly dues that i was able to so no cable no cell phone bill no subscription of any kind trash bill i greatly reduced it just any kind of recurring monthly cost including credit-card annual fees i have none of those you really have to take a really hard look at it because when you automate paying stuff it’s just like poking holes in your bucket in your

Network bucket and it all just drips out automatically versus if it’s not an automatic monthly payment you actually physically have to go and press a submit button or press a buy button then it makes things a lot more difficult for you to spend so reducing automatic monthly payment just kind of fits you in the mode of automatically saving one thing i did before

Was i created a lot more actively in the stock market you know four or five years ago when i traded i actually incurred a lot of frictional costs that i just talked about where every single trade is like ten dollars i would do it so much that by the end of the year i would see the actual trading cost i did incurred and yet my portfolio didn’t really increase but

You know i did all this movement in and out sure one day i would make money another day i would lose money but then at the end it kind of averaged out to like no gain or no loss even so i had a short position in something where i actually had to pay dividend in reverse rather than getting dividend i had to pay it because i was holding the short position one thing

That helped increase the network was just to finally kill off those short positions yes there was a loss but it’s actually really good die tooled also off because i no longer have to pay the and it’s just kind of like a lifted burden you do not have like a monthly recurring outgoing payment and you might have other outgoing payments yourself that you may want


To cut off one of them likely being a storage unit that’s like a hundred dollars or something every single month you can cut that off i also paid off my student loan during this time which allowed me to save on the interest i had to pay in the student loan because if i paid it off then i’m not spending that interest money in the loan therefore you think about it

This way where the money that would have went into the student loan interest payment instead you’re putting in your pocket instead i also pay down the mortgage the way i look at it every single time you put money in you’re saving that interest payment so this is like a rock-solid way to earn net worth you do not actually earn cash that you can take out right but

When you look at it in a net worth perspective let’s say you put ten thousand dollars in and the interest rate is 4% that’s about four hundred dollar savings a year well you can’t put this same ten thousand dollars and just save any cash and get your 1% so you can do it that way and get one hundred dollars or you can just pay down your mortgage and get four hundred

Dollars in net worth games of course you can argue hey why don’t i put that ten thousand dollars in the stock market instead but there is a risk with that you know you might gain 10% you might gain 20% or you might lose 20% so this is more of a conservative thing if you pay more into your mortgage it’s kind of like guaranteed gains and who doesn’t like guaranteed

Gains rather than having some risk so if you’re interested in this whole high accumulation of wealth idea and what types of people actually accumulates that much wealth you might want to check out the book the millionaire next door by thomas j stanley if your high accumulator of wealth type of person you would actually look for ways to get this audio book for free

Actually and you can do this through my audible link down in the video description below if you don’t like the service you can still cancel it and still keep them in their next door book and you can still help business at this channel i also have a patreon link over here and don’t forget to subscribe thanks for watching

Transcribed from video
How I Doubled My Networth Every 2 Years | BeatTheBush By BeatTheBush

Scroll to top