Eric Siu explains how peer groups accelerate wealth if you join intentionally. Pick members at your level or above, set clear goals for what you want, and quit if the group doesn't deliver. He cites a friend in an investor group with a major automotive company chairman.
Peer groups will make you rich, but there's a caveat here, right? I'm in a lot of these different groups, right? Peer groups work for you, but you have to understand what it is that you're looking to get out of the group, right? So for you, you want people ideally at the very least at your level or levels above you because you're looking to grow. And I think if you join these groups without having a specific objective or goal, it's just gonna be like you're just kind of walking around and there's no purpose to it, right? So you have to be very intentional. Like we have a mutual friend, he's in a group. The group is all investors. And one of the people in that group, he's like a chairman of one of the largest automotive companies in the world, right? I think if you're not intentional about these things, and so sure, you might listen to someone like me and say, oh yeah, peer groups will make you rich, because I certainly listened to that when I was starting out. But if you're not intentional and if you set a goal and you're not getting that from a group and you don't quit, that's on you at the end of the day, right?
