The 7 BEST Purchases To Make In Your 20s & 30s

I made millions in my 20s, but I also lost and spent millions. And I spent a lot of money on like incredibly stupid things that probably would have saved me from years of having to work on things I didn't want to do if I hadn't bought them. The idea is let's talk about the things you can buy that will turn $100 into a thousand or 100,000 in your 20s. And then let's not do this, which is like talk about the same boring shit every adult tells us to do. Invest in index funds so save more than you spend. We're not Susie Orman here. Or a finance self help boring book. So sure, do those things, like try to avoid debt, try to negotiate your salary. Yes, let's do all of that. But let's also talk about what could you actually put money into right now to get rich, not waste time and spend more time doing the things that you love? The number one best purchase you can make is to trade your time for knowledge, not money. So this is where I tell you to work for free. Yep, the Internet hates this. But while it doesn't technically cost you anything, it is probably the most expensive purchase you can make in your twenties. Your friends are going to be out there flashing their big paycheck or bragging about all the money they made in their startup on Twitter. And I'm going to tell you to do something else. Go find the work that teaches you the most humanly possible and completely and utterly disregard the paycheck. Here's the worst thing you could do instead of that. An MBA. I have an MBA from Georgetown University and a PhD from a school in Brazil called Fundesau de Stulia Vargas. Do I regret doing it? Yeah, kind of. Even though my work paid for it. Now if you can get into Harvard, Yale, Stanford, MIT, and want to go into high finance consulting or be an exec at a fortune 500, by all means go pay the 200k to hear people talk. Not do. But for anyone else, take the 100K. Go to the best business school there is. It's called Business as a school. Second best purchase. You guys are not going to like this one. It's called getting jacked. And ladies, this is for you too. Now you want me to tell you a little secret that is absolutely not PC. And maybe we get our YouTube video kicked off. It's that fit people make 25k more per year than not fit people. In fact, this isn't the only one. There's another one that says you earn 9% more a year if you hit the gym. So if I earn 1 million a year that's another $90,000. If it's 9% another spoiler that's going to hurt is good looking people earn 12% more over the course of their lifetime. Now this all seems shallow AF really. But like the truth is this comes back to Darwinism, which basically means survival of the fittest. Historically we were looking for who could produce the best offspring and who could protect them. So I guess it really all comes back to sex. But truly getting into shape is one of the best things you can do in your 20s. So do yourself a favor, get a gym membership, cut out the processed foods, spend more on that whole foods organic stuff, get the boxing coach, skip the alcohol a little bit, start have some fun. But maybe not all the time. Now here's the flip side of this one. The worst purchase that you could do Fancy dinners and expensive wine. So this is sort of embarrassing, but you guys can see I've spent about 50k and I'm sure this hasn't even circled it all on outside dining year to date. Thank God I didn't do much social then. What a mess. And quite honestly, unless you're a food blogger, no one cares about your Instagram photos. I promise you number three best purchase A community of people who don't suck. Find the builders amongst the people. People used to go to MBAs for the network right? I'd rather join an entrepreneurship group any day of the week. I pay about 50k a year to be a part of a bunch of these groups, but when you are a young gun, pay to join what you can. Some big entrepreneur ones are ypo4k, eo4k, tiger 21 30k a year. We have groups of mine like Cash flow that are like 3k plus or one for business buying. A little spoiler alert if you aren't bored to death by golf like I am, a country club membership's kind of fascinating. Old rich people who want to help young not so rich people. Then they're like you know he reminds me of my myself when I was a 20 something and since as you get older and you have money, you care more about legacy and relevance, they will help you climb the path to money because you are giving them that. So you become a mentee basically by accident. Plus maybe you get a tan and I guess lose a bunch of Pro V1 golf balls. I don't really get the whole golf thing. The worst purchase on the other side of this high school reunions if you still Care about proving the people wrong that you weren't as cool as them in high school but now you're cooler. You're playing the wrong game, my friend. Never been one of those. I. I can't imagine going to 1. Love your Arcadia High School. But no, I don't want to reminisce on who was prom king and you know what a sadist or English teacher was. And you shouldn't either. Who cares about your past. You're moving forward. All right four Best purchase a house or a condo now this one's a little bit more traditional but I got to talk about this cuz there's a bunch of people these days that say rent Ren ren insert like Ramit Sethi and James Aler Love. The guys don't agree with this. They say don't buy and they're so wrong. Let me show you why by actually showing you the numbers. I've owned eight houses that I've lived in myself over the years. Dallas house bought for 579k worth 942k. This is like 2014. Then we've got Dallas House 2 bought for 1.25 mil, now worth $2.85 million. It's also bought in like 2014, 2015, you know, bought another one in 2018 for 759k. Now worth 8.95k. And there are six more of these at higher price points. All in the difference between what I bought those houses for versus what they're worth now is $6.97 million. Not to mention I got to live there rent free and had write offs. So this is where people scream yeah but you should rent. And houses have a lot of expanded costs. I'm pretty positive that I didn't spend $7 million on landscaping and additional light bulb changing on my house. That would make it worth instead rent. Little voice in your head might now say but we can't afford to buy multiple houses for years and especially expensive ones. Now ask yourself how could you do this? I know that you're probably not going to be able to afford those same big assets. Start small. Go to a second tier city. You could probably work in your company remote now, but buy assets, get them to cash flow. The flip side of this, what's the worst thing you could do with your cash? A big rental payment. I die a little bit inside when someone says I want to rent everything. That only makes sense if you're worth a lot and you can make more than the cost of appreciation and rental income. Otherwise it's just Silly numerically, it doesn't make any sense. Tai Lopez renting out his mansion in la Crazy town. He didn't even own that thing. Could you imagine what that cost? Probably tens of thousands a month. If you have to rent until you can afford to own, no prop, just keep it cheap until you can get a down payment. Number five, best purchase. Passport, stick, stamp, baby. This is where you get to have some fun with the cash. This is wild. The average American waits until they're 60 to go to Europe. Think about that. You can use your dollars now and collect stories from faraway lands, but don't make this mistake. Don't just go do an American tour. Don't eat a McDonald's. Get a little dirty. Pick a country that makes you uncomfortable. Think of these experiences like memorabilia, like you place on a shelf to expand your view of the world. And before you go, read this book. I read it before I speak. Spent over a decade working in Latin America in all these crazy countries. The book's called Adventure Capitalists. It'll open up your eyes to all the ways to make money while abroad. I'd also read this book called Vagabonding. And then when I thought about traveling, you should go to communal spots to stay and work. Go look at local co working spaces. You could have a goal. Leave every city, make it a local friend, and have gone somewhere that Yelp and travel blogs have never reviews. Oh, and do me like a big huge solid, which is leave the. I visited 27 countries off your Instagram bio. Major cringe. The worst purchase that you could do, calling yourself a global citizen. You know, don't, don't do that. You were born somewhere. And then maybe if you're pretty rare, you have a few passports. I remember being at this one event and the guy in like the hot tub next to me, it was at this kind of fancy event called Summit. And one of them, you know, sitting next to me and I asked like, oh, you know, are you, where are you from? I don't really care. I'm like asking for small talk. And he's like, well, I consider myself a global citizen. I take no citizenship. And I was like, yeah, but like when you go through passport control, which one do you use? Because that's really as interested as I am in this conversation. The only thing you could spend bad on when you travel the world is if you take your world with you. Skip the Hiltons and the Hyatt's and the Four Seasons. Spend instead on staying longer, doing that local weird activity, going to some Undercover rave, helping out on a local spot. And you know, just me personally, hotel massages are awful. I would never do those. Wasted way too much money on that. All right. Six purchase skill stack. God, I wish I learned this earlier. This guy Scott came up with this idea. It's pretty brilliant. It's that you should spend as much time as you can acquiring a diverse set of skills and stacking them up vertically. Think about it like this. Steve Jobs became obsessed with calligraphy, AKA letters and types and fonts and Scandinavian design. Which is why all the Mac products are gorgeous. And then you look at like PC or Dell, like so not pretty. He became then obsessed with coding and software. Those things have nothing to do with each other, but because the skill stacking of all of them created something really rare. What did he get? A billion dollar. A multi billion dollar monstrosity of a company. You can become a top 1% in the world through doing 10,000 hours of backstrokes like Michael Phelps. Or you can become a top 1% in the world by stacking a top 20% in multiple things. My skill stack for instance, is that like I'm a top, I don't know, 10 to 20% investor, top, let's call it 10 to 20% marketer, top 10 to 20% public speaker, you know, 20% ish social media, er, and maybe a top 20% writer. That all gets us to being top 1% in exactly what I do. And you can do the same thing. But I paid to learn all of those skills. Flip side of that, worst purchase. You could make a niche you hate. Don't spend money please, trying to become an accountant when you hate accounting. It sounds dumb, but did you know more than 50% of graduates do a degree just because they think it'll make them money? Spoiler. I know people who have made $10 million making slime. I know people making millions selling bobbleheads, others making candles. These people came from nothing and they make millions. Which proves to me you can make money doing about anything. But probably not if you hate doing it. Last 1, Number 7. Become interesting by doing weird stuff. I wish someone had told me this earlier. There was this 22 year old kid, his name's Danny last week and he, he asked me how do I meet other interesting people. Then another person asked me how do I get better friends? And another young gun asked me how do I find a super worthy partner? How do I find like somebody like your partner? And this is a really hard one for me to answer because it's a hard truth. I Say you find interesting people by being interesting. That's how you do it. You don't find interesting people because you caught them at the right time. Somehow with a great cold email copy, you take up jiu jitsu and you commit yourself to it and you become a black belt. You become top tier in photography and show people that skill set. Doesn't really matter what it is. But you do interesting, weird things. I mean, think about how Tim Ferriss, how he got started. He like, I don't know, won awards in Tango by doing crazy things. He talked publicly on a blog before that was really anything. You know, he built up a company and then remote outsourced it entirely. Try to do interesting things. So few people attempt to excel at anything. Be a rarity by being what I call a third degree black belt in multiple things in life. If you do that, you'll never want for friends, dates or money. The worst version of this you could have is spending money on PR or cold outreach. The opposite of being interesting is trying to fake interesting with, let me, you know, pick your brain. Emails or fake press or awards. Don't spend on fake hype. Spend on becoming worthy of the hype. All right, I've shared a ton here that like maybe you've never heard of before that I think largely online gurus would hate. You know, I get it. I think think for yourself here. Be strategic in where you put your money and you're already like 90% ahead of the population. And also I did this other video on how I made my first 10 million by 30. If you want to get into how to actually earn more, I think this video could 10x it for you. So you should check that out and comment below for me. Which of these you're going to try first. I want to hear from you because you can jump the line. Being 20 and doing these seven things, spending when so many others are wasting, it's a game changer because here we do the work.