Steps to becoming financially independent?

[john1]

I'm 15 and living with my parents. They pay for all my things, but like Leo said there are strings attached to their money. Some of their rules are really dumb and time-consuming, but I still have to follow them. I know that I'll be kicked out of the nest one day, so how do I prepare for that ahead of time?

I have 2 years and 7 months to graduate high school, and I have lots of free time to spare. I want to make becoming independent one of my main goals in life.

So, what should I do to work towards that goal for the next 2 years? What do I have to learn? What books do I have to read? What courses do I have to take? What mindsets do I have to adopt? And how much work will this really entail for me (I'm imagining that it's not going to be easy)? What skills do I need to start learning to reach this goal?

I would love to hear your guys' thoughts on this.

[Hello from Russia]

Find out some set of valuable skills that you really like and master it

Edited November 1, 2021 by Hello from Russia

[SamC]

16 hours ago, john1 said:

I'm 15 and living with my parents. They pay for all my things, but like Leo said there are strings attached to their money. Some of their rules are really dumb and time-consuming, but I still have to follow them. I know that I'll be kicked out of the nest one day, so how do I prepare for that ahead of time?

I have 2 years and 7 months to graduate high school, and I have lots of free time to spare. I want to make becoming independent one of my main goals in life.

So, what should I do to work towards that goal for the next 2 years? What do I have to learn? What books do I have to read? What courses do I have to take? What mindsets do I have to adopt? And how much work will this really entail for me (I'm imagining that it's not going to be easy)? What skills do I need to start learning to reach this goal?

I would love to hear your guys' thoughts on this.

Wow 15, That's so young. I would have loved to discover this at that age. Leo's life purpose course is almost a must. It will help you a ton.

[Terell Kirby]

Few key fundamentals to get you started:

• Make sure the money you get every month exceeds that money that you spend
• Save 10 - 20% of your monthly earnings, get a savings account
• Have some cash to invest in building skills to add value (taking a course, reading books, seminars/workshops, etc).

[How to be wise]

@john1 Stop rushing. Your parents will not kick you out as long as you follow those rules they gave you. Becoming financially independent requires gaining mastery, which requires a couple of years.

[aurum]

@john1

I’d start building skills that will serve society.

How you choose to do that is up to you. That’s one of the blessings and the curse of living in the modern world. But you want to focus on being valuable to others.

If you want some examples to get started, just looking at what people pay a lot of money for and what they don’t. That should give you a clue.

I wouldn’t expect too much in the beginning. Even 2 years and 7 months is ultimately too small a time horizon. Start thinking about where you could maybe be in 10, 20, or even 30 years.

Follow those inklings of things that seem interesting, but also learn how to deeply commit to something when it’s time.

As far as books, there’s some decent one on Leo’s booklist. MJ Demarco has written two decent ones. Also the LP course will likely help you here. 

Keep in mind though that there‘s a lot of gurus in the self-help world who will exploit eager young people like yourself by selling them a dream or get-rich-quick nonsense. Don’t get clowned by them.

[Nahm]

@john1

Probably the most fundamental aspects are considering if you want to receive income for hours worked (hourly), based on assumed average of annual hours worked (salary), or residually (not from hours or salary). Then, whichever you desire, millions of people already have done and are experiencing, so research. All of the details in regard to the specifics of what you prefer will arise from you and be readily seen on your dreamboard, and all of those dots will automatically connect as you see the board each day (after a night’s sleep) and as you fill in any ‘gaps’ from researching whatever is needed in terms of knowledge and steps. In understanding & using the emotional scale, you’ll create emotion rather than being held mentally captive to doubt, anger, etc, and you’ll enjoy the ride in passion, eagerness, excitement & joy. I’d also take Leo’s LP course, as that’ll help you to dig deep within yourself and provide a ton of insight. 

[Fearless_Bum]

@john1 One tip that will save you is to not go down the discipline Rabbit-Hole and automate your savings. 

Get a job that makes decent money and find a balance to where you can build a nice savings and still buy yourself nice things. 

Also its totally possible to make good money and also enjoy your life. Dont listen to the Gary Vee type teachers, they thrive off of the naturally masochistic nature that conditioned humans have ("I must conquer myself, I must have good discipline, I need to be working a million hours a day because someone can take my place"), dont fall for that bullshit, I guarantee you those fuckers are miserable.

I love them though, good guys

[Bando]

Get a job first.

Field test everything you learn theres thousands of yt vids explaining how to make money and finances, the biggest trap at your age is believing that you'll be young forever. 15 is really young  but start looking around on yt on how to make money find a person whose teachings you agree with save up buy there course and set out with the intention to make it work. Consider it like a project dont even worry about making money. 

At your age unless your parents are abusive you shouldn't be worrying too much about becoming financially independent If i were you I would save up to buy a car as your first big purchase. Second you should put some intensive thought whether college is for you or not. If it is try to get into a top 25 college on a full or partial ride scholarship thats what i did and don't regret my decision one bit.

 

[universe]

Read some books about becoming rich. For example "think and grow rich" or "rich dad poor dad". The classics. This will give you some starting point.

Honestly, at your age I wouldn't put too much thought into it. Take some risks, making failures is the fastest way to learn. Find something that you enjoy doing and become really good at it. Seek to provide a lot of value to people's life and they will reward you for it.

Have you watched Leo's videos on this topic?

 

Mastering money really is a combination of different skills like

-Emotional Mastery

-Mindset (shadow work)

-Being strategic

-Vision

[Consept]

15, man what a great age to be asking these questions and to start from!

First off really get your head around understanding money and how to grow it, read these books ASAP - millionaire next door and psychology of money. As your 15 you have a lot of time in which to get compounded interest and build your capital if you start now, in 20 years your money can compound so much you won't believe and you'd only be 35. 

Next get a job, literally whatever you can get, you go to school I'm guessing so the job will just be weekends and/or evenings. Spend some of this money but save and invest as much as you can. 

Keep an eye for things that you feel passionate about, is it music, law, sport, psychology, business, whatever it is delve into that more and look for opportunities in that, maybe its worth doing a course within that field. 

I would t necessarily do this just to escape your parents, but definitely get these things in place and whatever you do with your life it will set a good foundation.