37 regras do DINHEIRO que eu queria ter sabido aos 20 — Transcript

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1. 0:00I am 37 years old, and I spent my
2. 0:02twenties making every financial mistake
3. 0:04I can imagine. It took me 10 years to
4. 0:07fix it all. So here are 37 truths about
5. 0:10money, one for each year of my life. I
6. 0:13really wish I had learned them all at
7. 0:15age 20. Number one, the biggest lie we
8. 0:19tell ourselves about money is: I'll
9. 0:21manage my money better when I earn more
10. 0:23. It's the opposite. You won't be able
11. 0:25to earn more until you know how to
12. 0:27manage what you already have. Even if
13. 0:29you live on borrowed money, learn to
14. 0:32manage it. Managing money is a skill.
15. 0:35You can practice with a lot or with a
16. 0:37little. Learn to take good care of $
17. 0:39200 and you won't lose 2,000. Number
18. 0:42two, earning money was never the
19. 0:44problem. Remember your first paycheck?
20. 0:47You lived on it. Now you earn double,
21. 0:49maybe triple. So, where is the money?
22. 0:53With every raise, you upgrade your
23. 0:54standard of living. Your income climbs
24. 0:56the stairs, but your lifestyle takes
25. 0:58the elevator. This is called lifestyle
26. 1:01inflation. If you want financial
27. 1:03freedom, maintain your standard of
28. 1:05living and invest the difference.
29. 1:07Number three, the more you rely on your
30. 1:10discipline, the more money you lose. If
31. 1:12you have to decide to save every month,
32. 1:14you might end up saving no month at all
33. 1:16. So, eliminate the decision, automate
34. 1:19it. As soon as your paycheck hits your
35. 1:21account, 200 goes straight to savings
36. 1:24before you see the money. No willpower,
37. 1:26no "next month." Number four. A
38. 1:30positive result doesn't mean you made
39. 1:32the right decision. Your idiot friend
40. 1:35drives drunk home, goes to bed, and
41. 1:37sleeps like a baby. Another friend
42. 1:39drives sober, gets hit by a truck, and
43. 1:41ends up in the hospital. The only
44. 1:42difference between them is luck. It’s
45. 1:44the same thing with money. You can make
46. 1:47a good decision and still lose.
47. 1:49Therefore, evaluate the decision, not
48. 1:52the result. Want to know if a decision
49. 1:53is good? Think about what would happen
50. 1:56if you repeated it 50 times in a row.
51. 1:58Drive drunk 50 times and you end up
52. 2:01dead. Invest every month, never sell
53. 2:04your investments, and get rich. Number
54. 2:06five, diversifying too soon keeps you
55. 2:09broke. If you make $ 200 with three
56. 2:12side hustles, you don't have multiple
57. 2:14income streams, you have three
58. 2:16distractions. Amazon started only with
59. 2:19books, Facebook only with college
60. 2:22students. Build something that
61. 2:24generates a good income. Then diversify
62. 2:27. Diversifying is for staying rich, not
63. 2:32for getting rich. Number six.
64. 2:35Multiplying your income by 10 can be
65. 2:38easier than doubling it. I know it
66. 2:40sounds absurd, but stick with me.
67. 2:42Doubling your income just means doing
68. 2:44more of the same. The same job, more
69. 2:46hours. The same clients, more nights
70. 2:49working. You remain the bottleneck, and
71. 2:52your day still has only 24 hours.
72. 2:55Multiplying your income by 10 like that
73. 2:57is impossible. So you are forced to
74. 2:59change. You need to create something,
75. 3:02sell something, bring others in. This
76. 3:04doesn't mean working harder; it means
77. 3:06working differently. Small goals keep
78. 3:09you on the same path. Big goals force
79. 3:11you to change. Number seven, you don't
80. 3:14need money to make money. In '99, a guy
81. 3:17named Nick wanted to sell shoes online,
82. 3:20but he had no money, no inventory, and
83. 3:22no shoes. He visited a shoe store, took
84. 3:25photos of the products, and put them on
85. 3:27a website. When an order came in, he
86. 3:30ran to the store, bought the shoes at
87. 3:32full price, and shipped them. He lost
88. 3:34money on every single sale. On purpose,
89. 3:37he just wanted to find out one thing.
90. 3:40Would someone pay for shoes without
91. 3:41being able to try them on? And the
92. 3:43answer was yes. That site became Zappos
93. 3:46. Amazon bought it for 1.2 billion
94. 3:50dollars. Nick didn't need money to
95. 3:54start; he needed an answer, and he got
96. 3:56it for the price of a pair of shoes.
97. 4:00You don't need money to make money; you
98. 4:02need a customer. Number eight. I used
99. 4:06to think an easy opportunity was a good
100. 4:08opportunity. If someone said in a video
101. 4:11, "I make 10,000 a month on YouTube," I
102. 4:13wanted in too. Except 10,000 other
103. 4:16people had seen that same video and
104. 4:18were thinking the same thing. If anyone
105. 4:21with a laptop can copy your business in
106. 4:24a day, your competition grows too fast.
107. 4:27I was looking for easy money when I
108. 4:29should have been learning to solve
109. 4:31harder problems. Difficulty is the
110. 4:34opportunity. Not just being difficult
111. 4:37for the sake of it. I'm talking about
112. 4:39problems that people truly need to
113. 4:41solve. Costly ones, frustrating ones—
114. 4:45the ones most people give up on. Number
115. 4:49nine, you won't get rich selling your
116. 4:51time. Even a surgeon who makes 20,000
117. 4:54per surgery can have problems if every
118. 4:56cent depends on them working. If they
119. 4:59get sick and don't show up on Monday,
120. 5:00the money doesn't show up either. So,
121. 5:03stop thinking about how to earn more
122. 5:05per hour. Think about something that
123. 5:07generates income while you sleep. A
124. 5:10business, an equity stake in someone
125. 5:12else's business, or investments. Number
126. 5:1510. The best investment for your first
127. 5:181,000 isn't in stocks, gold, or Bitcoin
128. 5:21; it's in yourself, in your ability to
129. 5:23make money. Put that money in an index
130. 5:26fund and, if you're lucky, a year later
131. 5:28you'll have $ 100 more. Invest in
132. 5:31learning something people are willing
133. 5:33to pay for, like managing ads or fixing
134. 5:35air conditioners. In 12 months, this
135. 5:39skill could have earned you 5,000,
136. 5:41maybe 10,000. And no one can steal your
137. 5:44knowledge. Inflation doesn't devalue it
138. 5:46, and it keeps paying off year after
139. 5:49year. Number 11. Maybe you don't have
140. 5:52money, but you're rich in one resource.
141. 5:55Time. I've already wasted a lot of time
142. 5:57. I once spent a whole afternoon
143. 5:59carrying bags of empty bottles back to
144. 6:02the store. I came home with 3 in my
145. 6:05pocket and a sore arm. I bet you've
146. 6:08done something like that too. Waiting a
147. 6:11whole hour in line for free ice cream.
148. 6:13Going to another store to save a few
149. 6:15cents on tomatoes. But think about it,
150. 6:19you could use that time to learn a
151. 6:21skill that could pay you $ 40 an hour
152. 6:23for the rest of your life. We always
153. 6:26seek the highest possible return on an
154. 6:29investment. We should start with our
155. 6:32time. Number 12. That guy who just
156. 6:36passed you in a Lamborghini just showed
157. 6:38he has 300,000 less in his bank account
158. 6:40. True wealth is invisible. Investments
159. 6:45earning compound interest. A paid-off
160. 6:48house, the savings that guarantee your
161. 6:50freedom. Deep down, no one admires the
162. 6:53man in that car. People just imagine
163. 6:55themselves in his place. So, the next
164. 6:58time you want to buy something to look
165. 7:00rich, use the money to buy something
166. 7:02boring, but that actually makes you
167. 7:04wealthy. Number 13. Ask the barber if
168. 7:07you need a haircut. The answer will
169. 7:10always be yes. Not because you really
170. 7:12need it, but because that's how he pays
171. 7:14his rent. Charlie Munger said it best.
172. 7:17Show me the incentive and I will show
173. 7:19you the result. So, before following
174. 7:22someone's advice, find out how they
175. 7:24make their money. And that includes me
176. 7:26and this channel. Don't believe me just
177. 7:29because I sound confident. Put the
178. 7:31lesson to the test. Stick with what
179. 7:33works. Pay attention to the incentives.
180. 7:36They explain almost everything. Number
181. 7:3814. You will be wrong most of the time.
182. 7:41And that's okay. Products, business
183. 7:44ideas, YouTube videos; launch 10 and
184. 7:47nine will fail. You don't need 10
185. 7:50successes, you only need one. One big
186. 7:53win makes up for all the mistakes and
187. 7:55then some. Fail nine times. Just don't
188. 7:58spend too much on the mistake. Number
189. 8:0015. Follow your passion. It's one of
190. 8:04the worst career pieces of advice that
191. 8:06exists. I didn't even know what my
192. 8:09passion was until I was 25. Follow your
193. 8:12talent. Talent is what you do with ease
194. 8:15, but others find difficult. Steve Jobs
195. 8:19loved calligraphy, but he didn't become
196. 8:21a calligrapher. His talent was creating
197. 8:23products that people wanted. So he
198. 8:26incorporated calligraphy into the Mac.
199. 8:29That's why the fonts on your screen
200. 8:30look so beautiful today. Passion was
201. 8:33the ingredient, talent was the
202. 8:36profession. Actually, passion usually
203. 8:39only appears after you get good at
204. 8:41something, not before. Number 16. You
205. 8:46are going to lose money. Everyone loses
206. 8:48. The difference is what happens next.
207. 8:51An average person loses 2,000 and never
208. 8:54invests again. A millionaire loses
209. 8:57200,000. They sit down, analyze what
210. 9:00went wrong, and start over. It's not
211. 9:04the loss that destroys you, it's the
212. 9:06paralysis of fear. Number 17. You can
213. 9:11be the most dedicated person in a dying
214. 9:14industry and still lose, or be average
215. 9:16in a growing industry and win. An
216. 9:19average person who entered the tech
217. 9:21field in 2010 got richer than someone
218. 9:24brilliant who joined a newspaper that
219. 9:26same year. Same effort, same hours,
220. 9:29different waves. So, before thinking
221. 9:32about working harder, look at which
222. 9:34wave you are on. Is it rising or
223. 9:37falling? Choose the wave first, then
224. 9:39worry about the surfboard. Number 18.
225. 9:42You can create your own luck. Luck is
226. 9:45just a numbers game. Someone who made
227. 9:48100 YouTube videos has a much better
228. 9:50chance of getting lucky than someone
229. 9:52who made five. This also applies to
230. 9:54business, relationships, opportunities,
231. 9:56and almost everything in life. You
232. 9:58can't force luck to appear, but you can
233. 10:01give it more chances to find you.
234. 10:03Number 19. A portion of your money
235. 10:06needs to sit idle. That's because when
236. 10:09your car breaks down or you lose your
237. 10:11job, bills don't wait for your
238. 10:12investments to recover. Without a
239. 10:15reserve, you might have to sell your
240. 10:17investments at the worst time or rack
241. 10:19up credit card debt for months.
242. 10:21Therefore, keep a part of your money in
243. 10:23a safe place with easy access. Number
244. 10:2620. While you have little money
245. 10:28invested, seeking high returns is a
246. 10:31waste of time. With 5,000, the
247. 10:33difference between a 10%and 12%return
248. 10:36is only 100 per year. Skipping a night
249. 10:39out is enough to get that amount. But
250. 10:42with 1 million, those same 2%represent
251. 10:4520,000 per year. So, while your net
252. 10:48worth is still small, don't try to
253. 10:50squeeze out more return. Increase your
254. 10:52net worth first, save, and earn more.
255. 10:55Try to squeeze out maximum returns once
256. 10:57you have a truly significant net worth.
257. 11:00Number 21. The unluckiest investor in
258. 11:03the world retired a millionaire.
259. 11:06Let’s call him Bob. Bob only invested
260. 11:08at the worst possible times. He
261. 11:11invested his savings right before the
262. 11:131973 crash, when the market fell nearly
263. 11:1550%. He saved up again and invested in
264. 11:201987, just before Black Monday. In 2000
265. 11:25, again at the height of the dot-com
266. 11:27bubble, and in 2007 he invested right
267. 11:29before the financial crisis. Four
268. 11:32investments, four historic market
269. 11:35crashes. But Bob had one rule: he never
270. 11:38sold. The man who only bought stocks at
271. 11:42their highest price still retired a
272. 11:44millionaire because he never sold.
273. 11:49Number 22. Be a coward with 90%of your
274. 11:52money and a madman with the other 10%.
275. 11:55At Cintalab, they call this the Barbell
276. 11:58strategy. Imagine heavy weights on one
277. 12:00side, a small weight on the other, and
278. 12:02nothing in the middle. The heavier side
279. 12:04, with 90%, is safe and boring. Index
280. 12:07funds, emergency savings. The smaller
281. 12:10side is risky and bold. A business idea
282. 12:12, something with the potential to
283. 12:14multiply your value by 50. If the risky
284. 12:18bets go wrong, you lose 10%. That’s
285. 12:21fine. But if one of them succeeds, it
286. 12:23can change your life. The coward keeps
287. 12:26you in the game. The madman makes you
288. 12:28rich. Number 23. Stop stressing over
289. 12:32saving five bucks. Your coffee won’t
290. 12:35define your financial future. Your rent
291. 12:37will, your insurance will. Your car
292. 12:40payments definitely will. Negotiate
293. 12:43those expenses. Half an hour
294. 12:45negotiating with your landlord or
295. 12:47insurer is worth more than going 10
296. 12:49years without your coffee. Fix your big
297. 12:52expenses once and for all. Number 24.
298. 12:56If someone can't explain their
299. 12:58investment to a 9-year-old, don't
300. 13:00invest with them. Every financial scam
301. 13:03you've ever heard of was complicated.
302. 13:05It’s in the complexity that they hide
303. 13:07the part where you lose money. Number
304. 13:1025. The best investment isn't the one
305. 13:13that pays the most, it's the one that
306. 13:15lets you sleep at night. It doesn't
307. 13:17matter how much your friend made. If an
308. 13:20investment makes you lose sleep and
309. 13:22check your phone in the middle of the
310. 13:24night, it’s not right for you,
311. 13:25because those who lose sleep always end
312. 13:27up selling at the worst time. Number 26
313. 13:30. Don't day trade. Most people who day
314. 13:34trade lose money over time. Maybe
315. 13:37you've already tried it. You made a few
316. 13:40trades, even won a little, but that
317. 13:42small victory is a trap. That’s how a
318. 13:45casino works. First, it lets you win.
319. 13:49The financial market is a great place
320. 13:51to invest and a terrible place to
321. 13:52gamble. Are you investing or gambling?
322. 13:56Number 27. Making money and keeping it
323. 13:59require opposing skills. Making it
324. 14:02requires optimism, courage, and risk.
325. 14:05Whoever starts a business needs to
326. 14:07believe it will work. Keeping money
327. 14:10requires caution, humility, and a bit
328. 14:12of paranoia. Those who want to preserve
329. 14:15their wealth need to believe they could
330. 14:18lose it all in a week. The same person,
331. 14:21two different mindsets. Earn like an
332. 14:24optimist, protect like a pessimist.
333. 14:27Number 28. Inflation reduces the value
334. 14:30of your savings each year, but it also
335. 14:31reduces the real value of debt. Keep
336. 14:34money under your mattress and inflation
337. 14:36will erode your purchasing power. Take
338. 14:38out a fixed-interest loan to buy
339. 14:40something that generates income, like
340. 14:42an apartment to rent or a small
341. 14:43business. Inflation erodes the real
342. 14:46value of the debt while the asset grows
343. 14:48. On one side, someone loses; on the
344. 14:50other, someone wins. I’m not telling
345. 14:52you to go into debt. It’s not for
346. 14:55financing an expensive car, much less
347. 14:57racking up credit card debt. I’m
348. 14:59saying you need to understand which
349. 15:01side of inflation you are on. Most
350. 15:02people don't even know there are two
351. 15:04sides. Number 29. There is a limit to
352. 15:09how much you can save, but not to how
353. 15:11much you can earn. No one wakes up
354. 15:14excited thinking: "What a wonderful day
355. 15:16to save $ 10." Focus your energy where
356. 15:19there is no limit. Ask for a raise.
357. 15:22Learn a skill that pays better. Create
358. 15:24an extra source of income. Cut the
359. 15:26waste, but don't base your entire plan
360. 15:29on spending less. Number 30. Never lend
361. 15:33money to friends. You lose the money
362. 15:36and the friend. It works like this.
363. 15:38Your friend needs $ 500 just until
364. 15:41payday. Payday comes, and nothing. Two
365. 15:44weeks later, they post photos at a
366. 15:46restaurant. Now, every time you see
367. 15:49them, you don't think about them, but
368. 15:51about the $ 500 they owe you. If
369. 15:54someone you love really needs help,
370. 15:56offer what you can without expecting
371. 15:58anything back. Give it as a gift or say
372. 16:02no, but never lend. Number 31. Good
373. 16:08financial advice can be terrible for
374. 16:10you. Remember when I said that
375. 16:12diversifying keeps you broke? That's
376. 16:15true when you're starting out, but it's
377. 16:17terrible advice when you already have 5
378. 16:20million. The rules of the game change
379. 16:23as you grow. So, whenever you hear
380. 16:25financial advice, ask one question: at
381. 16:27what level is this person? Number 32. A
382. 16:31person who invests for 10 years can
383. 16:33outperform someone who invests for 30.
384. 16:36Imagine your friend starts at 20,
385. 16:38putting $ 200 a month into an index
386. 16:40fund for 10 years. You start at 30,
387. 16:43invest the same $ 200 a month, and
388. 16:45continue until you’re 60. Triple the
389. 16:48time, triple the money invested. And
390. 16:51guess what? At 60, they still have more
391. 16:53money than you. They weren’t smarter,
392. 16:56they just started earlier. Their money
393. 16:59had more time to grow on its own. That
394. 17:01is the power of compound interest. You
395. 17:03can’t go back to 20 to start
396. 17:05investing, but tomorrow will already be
397. 17:07later than today. Number 33. Reaching
398. 17:11your financial goal might not make you
399. 17:13feel rich. Whoever earns 2,000 a month
400. 17:15dreams of earning five. Whoever hits
401. 17:18five starts dreaming of 10. The finish
402. 17:20line moves every time you get close.
403. 17:23That’s why you always feel like
404. 17:25you’re falling behind. Instead,
405. 17:27measure your success by looking back.
406. 17:30The life you have today was once your
407. 17:32dream. You just got used to it. Number
408. 17:3534. You don’t have to be rich to have
409. 17:38financial freedom. Financial freedom is
410. 17:41passive income high enough to cover
411. 17:43your monthly expenses. Imagine one day
412. 17:45you have a small apartment in the city.
413. 17:48You rent that apartment for $ 1,200 a
414. 17:50month and move to a place where the
415. 17:52cost of living is $ 1,000. The rent
416. 17:55pays all your expenses and you still
417. 17:57have $ 200 left over. Achieve your
418. 18:00freedom first, get rich later. Number
419. 18:0335. The traditional life plan is to
420. 18:07work five days a week for 40 years at
421. 18:09something that drains your energy so
422. 18:11that at 65 you finally start to live.
423. 18:15Think about it. You trade your best
424. 18:17years for free time, exactly at the age
425. 18:20when you no longer have the energy. So
426. 18:23stop thinking you’ll only live way
427. 18:24down the road. Live now. A well-planned
428. 18:28, paid-for week of vacation this year
429. 18:30is worth more than 20 years of freedom
430. 18:33at 65 that you might never have. Number
431. 18:3736. Money doesn't change people. A
432. 18:40generous person who is poor becomes a
433. 18:42generous person who is rich. A jerk who
434. 18:45is poor becomes a jerk with a Mercedes.
435. 18:49If you are unhappy with 2,000 a month,
436. 18:51you will remain unhappy with 20,000.
437. 18:54Money solves financial problems, it
438. 18:56doesn't solve your personal problems.
439. 18:59Number 37. When it comes to money, you
440. 19:02are on your own. No one is coming to
441. 19:05save you. Your bank profits more from
442. 19:07your mistakes. Your boss needs you to
443. 19:09depend on that paycheck. They have no
444. 19:11interest in seeing you achieve your
445. 19:13financial freedom. Great. Now you can
446. 19:17begin. These are the 37. Don't try to
447. 19:20apply them all at once. Pick one and
448. 19:22tell me which one you'll put into
449. 19:24practice this week. And if you're new
450. 19:26here, check out the playlist on your
451. 19:27screen. It summarizes many useful books
452. 19:30, and most of these 37 lessons came
453. 19:32from them.