00:00:00
I wish somebody had given me that
00:00:01
advice.
00:00:02
>> I went on Chat PT and I as Chatt the
00:00:04
question, I'm a normal person who earns
00:00:07
$50,000 a year. I want to be financially
00:00:10
free in the future. Give me a one-s
00:00:12
sentence answer based on all of the
00:00:15
wisdom in the world taken from every
00:00:18
expert in investing ever.
00:00:20
>> I know what the right answer is. I don't
00:00:21
know what the answer.
00:00:22
>> What do you think it's going to say?
00:00:23
>> Read the simple path to wealth. I don't
00:00:25
think that's what it's going to say, but
00:00:26
that's the right answer. And the the
00:00:27
simple path of wealth talks about three
00:00:29
principles, right?
00:00:30
>> Right.
00:00:30
>> I'm going to check it against what it
00:00:31
says.
00:00:32
>> Avoid debt.
00:00:32
>> Yeah.
00:00:33
>> Live on less than you earn. Invest a
00:00:35
surplus.
00:00:36
>> It said, "Focus on saving and
00:00:39
consistently invest in lowcost
00:00:41
broad-based index funds like the S&P 500
00:00:44
while living below your means and
00:00:45
allowing compounding to work over time."
00:00:48
>> I should sue them for mining my book.
00:00:50
>> Yeah, they probably did.
00:00:52
>> I then asked another question. How do I
00:00:55
earn more? earn more in a job or
00:00:57
>> I just asked a very broad question which
00:00:58
is and now how do I earn more was my
00:01:00
question.
00:01:01
>> Develop your skills.
00:01:02
>> Okay.
00:01:03
>> It said to earn more focus on developing
00:01:05
high demand skills.
00:01:06
>> Oh, there you go.
00:01:07
>> Seek opportunities for career
00:01:08
advancement. Explore side hustles or
00:01:10
invest in assets that generate passive
00:01:12
income like real estate or dividends. I
00:01:14
really think there's a really important
00:01:15
part there about developing high demand
00:01:18
skills.
00:01:19
>> What are those going to be in the
00:01:20
future?
00:01:21
>> Yeah. with AI because programming for
00:01:23
instance
00:01:25
>> used to be a very high demand skill and
00:01:27
people said learn how to program. Yeah.
00:01:29
>> From what I understand in the age of AI
00:01:31
yeah that's not so much.
00:01:33
>> The advice I'd now give to my kids based
00:01:34
on that is I would ask if my kids came
00:01:37
to me and said dad what should I go
00:01:38
learn? I would say go and work for a
00:01:42
startup. I said startup because you're
00:01:44
going to be very close to the CEO and
00:01:46
founder because there's going to be less
00:01:47
desks. So you're going to be closer to
00:01:49
the proximity. That is failing at the
00:01:52
cutting edge. So if it's AI, I'd say go
00:01:54
work for an AI startup. I I probably not
00:01:57
going to work out. You're probably going
00:01:58
to be the company will be busted in a
00:02:00
couple of months time, but you're going
00:02:01
to be so close to the failure
00:02:03
>> and you will learn so much. Yes.
