How to Become Financially Independent | How to Get Rich | 5 Rules for Financial Freedom

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In this video I talk about how to become financially independent, how build your wealth and get financial freedom. I talk about 5 rules that I think the rich follow to get rich.

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These are just my observations and not financial advice. This is what I learned from watching the podcast "How to get rich" of Naval Ravikant and books like the Rich dad poor dad & psychology of money.

How is it that the rich gained over 2 trillion dollars while most of us lost jobs and experienced pay cuts? Why is it that the rich get richer and the poor get poorer. It's because of the rules I mentioned in this video.

Timestamps:
0:00 - Introduction
1:01 - Rule 1 - Earn with your mind, not with your time
3:29 - Rule 2 - Invest in assets & let compounding do it's magic
4:00 - What is compound interest?
4:50 - Sponsored by smallcase
5:58 - How Warren Buffett Got Rich by compounding
6:19 - Rule 3 - Invest in assets, not in liabilities(read Rich Dad Poor Dad book)
6:58 - Buying a car or renting
7:25 - Buying a house and renting it out
8:07 - Rule 4 - Use Scale & Leverage through software, capital or labor)
8:50 - Rule 5 - Gaining knowledge continuously

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The subtitles are provided by Nitesh. You can get your Subtitles done by him: https://www.fiverr.com/share/kobVGQ

7 Ways I Make Money as a 19 Year Old College Student: https://youtu.be/U0CiBPZl9-o

How to Start Investing for Beginners: https://youtu.be/DeYZTn3G0MA

Start Doing THIS Today to be Financially Independent: https://youtu.be/bzzIKGmra2U

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