Motivating Late 20s to Build Wealth Mindset

Motivate friends in their late 20s to save and invest with The Wealth Multiplier, gifts, guilt tripping, and the slow, steady wealth-building process.

### Motivating Late 20s Individuals to Start Wealth Building
* 💰  Every dollar we put to work can **turn over 26 times**.
* 📚  Recommend resources like "**The Wealth Multiplier**" from moneyguy.com, which provides **actionable steps and motivation** for wealth building.
* 🎁  Use gifts as motivators, as they create a **sense of obligation to take action**. Consider giving books like "**Wealthy Barber**" and "**Millionaire Next Door**" to friends and family.
* 🤝  Encourage personal accountability by regularly checking in with friends about their **financial goals and progress**.
* 📈  Stress the importance of **long-term investing** and avoiding the temptation to constantly monitor **short-term gains or losses**.
* 🕰  Remind individuals that wealth building is a **slow and steady process**, contrary to the **get-rich-quick schemes** often promoted on social media.
* 💡  Highlight the need for **consistency and patience** in wealth building, as it is "**incredibly simple, but far from easy**."

[Music] Christian's question is up next. It says, I'm in my late 20s and have been trying to inspire my friends and family in their late 20s with the money guy message. Love it. What would you recommend to those who feel like they are behind or messed up in their 20s? And how would you motivate people? Go listen to the last question. Kidding. I know it's going to get chopped out, so I can't do that. What here's what I would do. We have a great resource at moneyguy.com called The Wealth Multiplier. I would take all your friends there and say, Hey, okay, look, we're in our late 20s. Maybe we didn't figure this out at 22, maybe we didn't figure it out at 25, but here we are at 28, 29. Do you realize that every dollar we put to work can turn into, gosh, I don't know, it's 30. I don't have the thing in front. It's 29 years old. You're 29 years old.

26.6.14 26.4. Every dollar that you put to work can turn over 26 times. By the time $300 a month will turn you into a millionaire, $63 will turn you into two millionaires. All the things right there. So, do millionaire. So, I would tell my friends that I'd say, Hey guys, we right now are in a position that we're going to be able to do amazing things if we just can save a little bit of the day for a great big beautiful tomorrow. And then what I did with my buddies is I said, Listen here, Jack wagons, y'all better start saving 'cause when I retire, I need to have somebody to hang out with. I'm not trying to be all by myself at Financial Independence. You guys better start saving. So, you know what I'm going to do? I got a great Brian. What's something we could give them that would maybe be a great thing? Love gifts. I mean, there is something about us as humans. If somebody gives you a gift, you feel obligated to

kind of do something so this will could be a great just motivator of action. I think about 'cause I did the same thing when I first graduated. Um, there were two books that motivated me. It was Wealthy Barber, Millionaire Next Door. Wealthy Barber, I felt like was very accessible. So, I gave that to my buddies, and I was happy to report every one of them funded their Roth IRAs that first year. It really was a magical thing. This book, if you go read the reviews out there on Amazon, people have no idea. The biggest compliment I'm seeing is people saying, I'm going to go buy three or four of these to give out to my young friends and family, people who just graduated college, and even people in their 30s. 'Cause there was a comment that came through 'cause yes, I am reading the comment still. It's still a fun little hobby of mine. Um, that said, this book is spectacular for anybody in their 20s. But then the

person said but I tell you what, it's also great for people who are in their 40s because it will let you see that you can actually still do some things to catch up. So look, of course I'm biased 'cause I wrote it, but that's why I tell you, go read the reviews. This thing, I didn't know how it was going to connect, but it obviously has connected with the Next Generation. And I'd love, Christian, for you to use it as the tool to kind of motivate people to try to figure out how they can start their own millionaire mission. Um, I was looking, by the way, there was a comment on social media that said Brian has a bookmark. There's no bookmark on here. Somebody noticed. I saw that same comment. I was like, and I'm just now looking at it. Like, there's no bookmark on when I read it. I was like, Brian's going to get stuck on that bookmark comment. I was like, there is no bookmark on here. Hey, I'm another, I'm another.

another thing I think you can do with your friends. You know I'm a big um I'm a big it depends on how close you are if you got really close friends. I'm a big proponent of like guilt tripping uh and so a personal accountability is huge. So I would ask him hey guys you know we talked about funing our Ross. You put your money in last month did you do it oh you didn't what day you doing it when are you going to do that oh are you safe what when are you going to do that. I do that all my buddies like one of the worst things that happens. I got this little group of guys who work out in the mornings buddy. If you do not show up that morning you just know that for the day you're going to get like a text just absolute abuse on the text thread for not doing it but it's amazing how motivating that can be so if you and your buddies are close keep having conversations about it. I did the same.

thing with my buddies, and I convinced them to put money in a Roth IRA one time, and then I touch base with them like three or four years later. I was like, man, how's that Roth? Like, oh yeah, I mean, I funded it that one time. I was like, no, you missed the point. So if you can have open conversations about it and keep it front and center, there's a lot better chance you're going to help them build that healthy habit of continuing to save, continue to put money to work, and do this. 'Cause I've actually had neighbors, they found out what I did for a living, and they were like, Hey, 'cause. Like I had a neighbor new to the country, so this whole thing with investing, they had never been very successful, but they literally from another country, and they started. I said, hey, do this for me, just set up an, you know, an always be buying situation where we're going to do, you know, $1,000 a month or something into this index fund. And he came to me three

months later, and he says, I'm done with that, and I was like, why? and he goes, well lost money, and I was like, no, no. I was like, so I'm just telling you these are the things you'll deal with with a brand new investor. So, if you're talking about loved ones, you have to tell them if you go on this journey, promise me, if you're going to set it, forget it. You're going to set up this 'always be buying' opportunity, but you're not going to look at it for five years. If you can just do $100 a month, $200 a month, but promise me you will not stop this process for at least 5 years. I think you'll be amazed at how much money will start accumulating. But if you look at this as you put money in and then 3 months later you go, 'did I make money?' you're kind of losing the plot a little bit. And that's something I've seen with early investors. They don't really understand that this is a slow, steady process. It is quiet.

patient work that creates wealth. And um, people are, and I think it's a societal thing. We're all looking for the shortcut. We're all looking because social media makes it seem like it's so easy to build that million dollars in about 10 months. I think there, even, you know, content out there says, hey, how to build a million dollars in a year or something like that. That's not realistic. This is the reality of how you actually build wealth. When we do our wealth survey of all of our millionaire clients, it's not doing it the some get-rich-quick way. It's the slow, patient, steady work that's going to create success for you. Would you say that it's incredibly simple? It's just far from easy.

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The Money Guy Show

Motivating People in Their Late 20s to Build Wealth

The Money Guy message recommends using the Wealth Multiplier resource to inspire friends in their late 20s.

They emphasize the power of saving and investing, highlighting that even small amounts can grow significantly over time.

The speaker uses humor and the promise of a shared future to motivate their friends to start saving for financial independence.

The book "Wealthy Barber" has successfully motivated many people to take action on their finances, especially young adults and those in their 40s.

It has received rave reviews on Amazon, with readers praising its accessibility and ability to inspire the next generation.

The author encourages using the book as a tool to motivate people to start their own journey towards financial success.

Encouraging Healthy Financial Habits Among Friends

Open conversations and personal accountability can help friends build healthy financial habits, such as saving and investing.

Guilt-tripping and regular reminders can motivate friends to follow through on their financial commitments.

Keeping the topic of financial responsibility front and center through ongoing discussions can increase the likelihood of friends developing a habit of saving and putting their money to work.

Consistent investing over time leads to significant accumulation of wealth.

New investors often struggle with the concept of long-term, steady growth and may lose track of their progress.

It's important to commit to the "set it and forget it" mindset, avoiding the temptation to constantly check for immediate profits.

Building wealth takes patience and hard work, rather than quick shortcuts promoted in social media.

The majority of millionaires have achieved success through slow and steady means, rather than get-rich-quick schemes.

While simple in concept, the process of building wealth is far from easy in reality.