Developing a theoretical foundation for money, finances, wealth building...

[Majed]

Since Leo rarely talks about these topics which are essential for building a great life, thought i would create this thread to develop a solid theoretical foundation for money, finances, wealth building... 

Feel free to share any videos or insights, you might find helpful towards that end. 

[VioleGrace]

On 05/12/2025 at 0:52 AM, Majed said:

Since Leo rarely talks about these topics which are essential for building a great life, thought i would create this thread to develop a solid theoretical foundation for money, finances, wealth building... 

Feel free to share any videos or insights, you might find helpful towards that end. 

Great idea 

[blankisomeone]

I'm putting together a Youtube playlist on this topic. There's some Leo Gura, some Teal Swan and some AJ Miller in it. More to come
https://youtube.com/playlist?list=PLk-zP5FXAEEZwYJS-RWzL76CeZabosU-O&si=dFuGqPVuplE-3tMX

Edited yesterday at 12:58 AM by blankisomeone

[Joshe]

What would you say to someone who insists they need to study hydrodynamics before they learn to swim?

You'd tell them: get in, fail, adjust, repeat. That's also the loop for money.

You need a functional foundation, which is: an offer, an audience, and a feedback loop.

Pick a simple service, try to sell it, fail, adjust, repeat. 

This is the only theory that adds money to your bank account.

Edited yesterday at 06:32 PM by Joshe

[Ishanga]

On 12/4/2025 at 6:52 PM, Majed said:

Since Leo rarely talks about these topics which are essential for building a great life, thought i would create this thread to develop a solid theoretical foundation for money, finances, wealth building... 

Feel free to share any videos or insights, you might find helpful towards that end. 

Before any external work or success/failure is experienced, set up Your interior first, make it so You are full of energy, clarity and non attachment to outcomes, since setting up a business or path to external success. wealth and such as most see it today is a challenge on all levels, physical, mental, emotionally, if You are zig zagging in these areas, up and down, going off course then You will fail for sure.. 

Get Yourself emotionally right, feel good inside, at Peace, then decide on what You want to do, what sort of path to take, what business or venture You want to go into, make the basic plans, set up a schedule of daily, weekly, monthly, yearly  goals, then start to apply it.  Of course before this your doing research and asking mentors or whomever best paths, when going down a path asking those that are already gone down the path for advice is Wise!

Make Slight adjustments to the plans as you go thru them but don't deviate too much, know Your ultimate goals, set up vision boards and such to motivate You so Your always on the path of the vision You have, then just go for it.. Make sure You luv what You are doing and not just doing it for money or fame, you'll burn out fast if that is your only motivation!

Best of Luck!

[blankisomeone]

4 hours ago, Joshe said:

You'd tell them: get in, fail, adjust, repeat. That's also the loop for money.

I wouldn't tell them to just get in and fail. I also wouldn't tell them to study hydronamics because it's too detailed and doesn't get motor skills locked in. But I would offer guidance, some support. There are stupid mistakes you can learn about in advance and avoid. If we can't learn from the experiences of others, why would we live in a world with billions of people? We don't have to go everything alone without external guidance. (Note to myself as well)

Edited 23 hours ago by blankisomeone

[Joshe]

8 hours ago, blankisomeone said:

I wouldn't tell them to just get in and fail. I also wouldn't tell them to study hydronamics because it's too detailed and doesn't get motor skills locked in. But I would offer guidance, some support. There are stupid mistakes you can learn about in advance and avoid. If we can't learn from the experiences of others, why would we live in a world with billions of people? We don't have to go everything alone without external guidance. (Note to myself as well)

You should definitely seek out leverage and identify threats, but only while in an operable structure.

If your goal is financial freedom and you're looking for leverage or protection outside anything you’re actually doing, you're delaying contact with the only thing that can teach you.

I spent 15 years doing this and am much further behind than I'd like. I was supposed to be free by now, but I'm not.

I've paid for these insights. Learn from my mistakes.

Example, I have high self-efficacy, can figure most things out and have a cognitive edge over most people, so I always assumed I would easily acquire financial freedom because how hard could it be competing with average people? "If these fools can do it, so can I!" 

I had all these ideas about how all I had to do was learn how to build websites, digital products, learn SEO, online marketing, and it's off to the races.

I thought that I'd out-maneuver or out-SEO everyone because I would find the leverage they'd miss and I'd put in more work than them. 

I was happy and complacent in the loop of collecting knowledge and theory without testing it, because I thought I was stockpiling leverage. I had knowledge and ideas, but no true operational knowledge.

No matter how many articles I read, it was all too vague. I didn't know what advice was right because I wasn't testing any of it.

It was only about 10 years later when I actually made a website and tried to compete in the real-world that I found out all my ideas about how easy it was going to be was all bullshit.

If you had 24/7 exclusive access to the best business mind on the planet for a whole year, he couldn't guide you to financial freedom because the bottleneck is not access to intelligence, wisdom, or advice - it's access to feedback.

Only seek leverage for your near-term problems - don't stockpile. This one principle takes people with very little development from rags to riches all the time.

When it comes to making money, intelligence doesn't compound the way we all think it does. 

Edited 17 hours ago by Joshe

[LordFall]

1) Build scarce and valuable informations and skillset.

2) Learn how to share those and solve people's problems en masse.

3) Become rich

I'm still working on step 3 but so far so good.