#Binance Tilbury highlights a range of purchases that played a pivotal role in his journey towards wealth, emphasizing that these possessions are neither luxurious nor ostentatious, but tools that helped him build a solid financial foundation.
Wealth Without Flashiness
The seven things that helped the famous British millionaire make his fortune in a record time can be summarized as follows:
1. Side Project: Source of Income and Opportunity for Growth
Tilbury began his list by emphasizing the importance of having a side project, noting that this type of investment allows directing funds towards tools that enhance profit opportunities, such as purchasing a laptop that opens up the field for freelancing or creating digital content.
2. Index Fund: A Simple Investment with Compound Returns
He said that the second most important investment was in an index fund, as he consistently invested a small monthly amount into it, which enabled him to build an additional income source and benefit from compound interest over the long term.
3. Travel Ticket: Exploring Opportunities and Boosting Confidence
Tilbury placed the plane ticket in third place, emphasizing that traveling played a significant role in broadening his horizons, increasing his self-confidence, and opening new avenues for him, especially when he later needed to produce his own products in China.
Building Wealth
4. Self-Learning: Developing Skills and Increasing Value
The self-made millionaire recommended investing in further education, whether through courses or self-learning, emphasizing that the market value of any individual is directly related to the skills and knowledge they possess.
5. Real Estate: A Gateway to Enhancing Net Worth
Tilbury ranked real estate as the fifth, considering it one of the fastest ways to increase net worth, advising to start with improving personal housing, then moving on to buying a home through a mortgage and gradually renting it out to cover costs.
6. Economical Car: Mobility Without Debt Burdens
The British millionaire stressed the importance of owning a cheap and reliable means of transport, such as a used car that helps keep appointments and seize opportunities, explaining that he bought a Peugeot at a low price, which allowed him to move freely without being burdened by loans or depreciation.
7. Cryptocurrencies: Calculated Risk
At the bottom of the list, Tilbury mentioned cryptocurrencies as a modern asset with great opportunities, provided they are approached with caution, stating: "I only put a small part of my money in cryptocurrencies, and I consider it an amount I can afford to lose, but it has been one of the best-performing assets in the last decade."
