The Level Up Podcast w/ Paul Alex - Achieving Financial Freedom in Your Twenties

Episode Date: July 8, 2024

Welcome to Episode 94 of the Level Up podcast! Hosted by Paul Alex, this episode dives deep into the journey towards financial freedom in your early twenties. Paul, a former cop turned successful entrepreneur, shares invaluable insights on setting yourself up for millionaire status by your thirties.In this episode, we cover:The Importance of Financial Freedom in Your Twenties: Learn why early financial discipline can set the stage for lifelong wealth and success.Developing the Right Mindset: Understand the critical role of saving, investing, and smart financial decisions in achieving financial independence.Setting Clear Financial Goals: Discover how to break down your financial aspirations into short-term, mid-term, and long-term objectives.Taking Action: Explore practical steps to create multiple income streams, leverage compound interest, and maintain financial discipline.Building High-Quality Relationships: Find out how financial independence attracts ambitious and quality partners who value success.“Your Network is your NETWORTH!”Make sure to add me on all SOCIAL MEDIA PLATFORMS:Instagram: https://jo.my/paulalex2024Facebook: https://jo.my/fbpaulalex2024Youtube: https://jo.my/ytpaulalex2024Linkedin: https://jo.my/inpaulalex2024Looking for a secondary source of income or want to become an entrepreneur?Check out one of my companies below to see if we can help you:www.ATMTogether.comwww.Merchantautomation.comFREE Copy of my book “Blue to Digital Gold - The New American Dream”www.officialPaulAlex.comLeave a review, like and share to help others and let’s level up together!

Welcome to the Level Up Podcast. I'm your host, Paul Alex. I went from being a cop to an eight-figure entrepreneur that helps average people like you and me make money every single day. I created this podcast to help you get motivated and to crush your goals. Let's win together.

Remember, I have your six. Get ready to level up right now. All right, to all my youngsters in their early 20s. Today, we're going to be diving into a crucial topic for young adults just like yourself, focusing on financial freedom in your early 20s. This early focus not only sets you up to potentially become a millionaire in your 30s, but also attracts better quality partners who value your ambition and success. So coming from my own experience, guys,

I did the total opposite in my twenties. I focused on girls party in just a nine to five. I didn't have any ambitions to actually level up. I was comfortable with life, but I'm telling you right now, me being in my thirties, guys, if you guys can become a millionaire, a multimillionaire before your 30s, you will be set for life. You're going to be in better atmospheres. You're going to be in better environments. You're going to be around better people. And at the end of the day, they're going to allow you to level up a lot faster. So your 20s is a pivotal decade.

Let me repeat that. Your 20s is a pivotal decade. All right. Let me repeat that. Your twenties is a pivotal decade. There's a time to learn and build the foundation for your future, but you got to actually like make financial freedom. Your number one goal. We're not, I'm not saying don't go ahead and break up with your girl or break up with your guy, if you're a female. But what I'm saying is you got to put being financially free for you and your family first. You have to set yourself up on a path to be wealthy and increase opportunities for you in your life. So on this episode, we're going to explore how to achieve this and why it matters beyond just the numbers in your bank account.

First, let's talk about the mindset. Developing a financial freedom mindset early on means understanding the importance of saving, investing, and making smart financial decisions. It's about living below your means, onboarding unnecessary debt, and consistently investing into assets that grow over time. Start by educating yourself about personal finance. Read books, take courses, seek mentorship from those who've achieved what you aspire to do. Guys, I have mentored thousands of 20-year-olds.

This has completely changed their life, whether it's financially, whether it's their mindset, whether it's them leveling up to do something else in life. But at the end of the day, you guys can learn so much experience from buying a course, reading a book, or even getting a mentor. The next thing I will tell you is to set clear financial goals. You got to be specific with this. So break them down into short-term, mid-term, and then long-term objectives. For example, your short-term goal might be to save a certain percentage of your income each month, while a midterm goal could be investing in a diverse portfolio. And then your

long term goal might be to achieve financial independence by the time you're 30. Right. So clear goals keep you focused and motivated. So in a nutshell, guys, if you guys are looking to go ahead and actually say, okay, what do I need to do in the next 90 days to level up? All right. Do I need to start that business? Do I need to buy a self-education course or do I need to hire a mentor? What can I do in 90 days to level up? And that's the way I operate, guys. I go and take my life 90 days at a time. Within 90 days, I go and see if I'm close to hitting my goals. I go and see if I'm closer to leveling up. Now, let's discuss the actions because at the end of the day, people can talk about this all day, but unless you're taking action, guys, it's not going to happen. So building wealth requires consistent and strategy effort. Start by creating

multiple streams of income. This can include your primary job, your side hustles, freelance work, or even investments. Diversifying your income reduces risk and accelerates wealth. Additionally, take advantage of the compound interest by investing early guys. The power of compound interest means your money grows over time. Financial discipline is also crucial. This means sticking to a budget, avoiding lifestyle inflation and making sacrifices now for the greater rewards later. And I know this is hard guys. At the end of the day, when I look back at my 20s, I was like, damn, I was like on the verge of going ahead and going the entrepreneurial route right when I was working my nine to five, like around 21, 22. But then I didn't. And why? It's

because I had my coworkers talk me out of it. But now I think about it. I'm like, I'm actually happy that that happened because I did get a little bit of life experience. By the time I was like 24, 25, I was ready to go. I was ready to go. I was ready to go and conquer the world, guys. And then being around people that were in the law enforcement field, that's what got me into law enforcement. But then ultimately, I met other people that were in the law enforcement field. That's what got me into law enforcement. But then ultimately I met other people that were in the entrepreneurial field and then I got into entrepreneurship. So at the end of the day, your network is your net worth and that's the way you got to look at it. But also you got to focus and see how you're going to level up, like actually have a plan. Okay. So the way I was able to get out of my nine to five guys, yes,

I didn't start planning until I was like 29, but at the end of the day, I still executed. I still, I still took imperfect action. And then six years later, I became a multimillionaire guys. And I'm not talking about just a mil, just a milli here and there, not on multimillions. And when you have employees guys,, that's how you know you have a business. Okay. So now that we have over a hundred employees, I mean, the needle's moving faster than ever. We're trying to level up to nine figure companies here, but at the end of the day, what can you do right now to move the needle in your life? So if you're working a nine to five right now, that extra income that you can save besides paying your bills, what are you spending that on? And that's what you got to really look at. Am I spending that on leisure or am I spending that on leveling up? And if it your 30s, because I'm telling you right now,

the energy levels is night and day. You're going to be able to work longer. You're going to be able to focus longer. You're going to be able to just be optimistic about doing the work because entrepreneurship, the reason why most people don't do it is because motivation leaves you. So you have to stay disciplined. I believe, I truly believe that if you are taught this early in your twenties, you're bound to be more successful than 30 year olds. If you start at your early twenties, okay. Because you have more energy, you're going to be more optimistic. I mean, it's just night and day guys. So do it while you're young. All right. And also, all right, so let's shift being financially free and then actually finding your partner later on in life. Guys, the old American dream, right? And this comes from my parents. They're like, hey, you know, have kids

young and all that jazz. But at the end of the day, guys, inflation is through the roof. I mean, you got to take care of yourself, right? So I'm a big believer in, look, I'm going to be financially free before I find my spouse so I could take care of her. Because as a man, that's how I feel, okay? Those are my morals. Those are my values. If I wasn't able to afford a meal for me and my lady, what type of man does that make me? You got to really think about that. And that goes across the board for men or females, right? So at the end of the day, you have to make sure that before you get in a relationship

that you have leveled up. So now you have standards, okay? And you're going to attract the people that you want to attract, that you want to be in a relationship with. And then that's going to bring higher quality partners to your life guys. So higher quality partners are typically attracted to individuals who have their lives together, who are ambitious, who have a clear direction. Financial independence allows you to offer security and stability to your partner, which are important foundations for a healthy and lasting relationship.

Additionally, the discipline you've shown in achieving financial freedom are indicative of your overall character and potential as a life partner. I'm telling you something right now. The fact that you can go into a relationship and be like, I got options. I could do it like that. I'm telling you right now, your partner will love that. Whether you're a man or you're a woman, guys, at the end of the day, when you have options, people love that.

And what I'm talking about options, I'm talking about you're not worried about time. You're not worried about money. You're not worried about whether you can do an event, whether you can travel, whether you can do that. No, guys, this is why I made this podcast specifically towards younger 20 year olds, because I feel like, you know, when you're in your younger 20s, it's more about trying to be cool, you know, trying to hang out with the in crowd trying to go out and have fun. And I understand that you can do that once in a while. But at the end of the day, your true target, your number one goal should be financial freedom. So take it from me, guys. Okay, I have a lot of life experience now at the

age of 36, but luckily, you know, I started at 29 and I'm glad that I did because I did have the life experience and the skills and the soft skills to go ahead and actually use it to build a couple multi-million dollar companies and have a couple hundred employees now. And at the end of the day, life, I see life's already written guys. Like, you know, what's for you, what's for you. So you got to develop a financial freedom mindset right now. If you're listening to this, or if your parents listening to this, have your kid actually listen to this podcast because it's going to help him or her a lot. Okay. I promise you with that being said, guys, take control of your financial future today. Your dedication now will lead to a life of abundance and high quality relationships. So this episode on Instagram, Twitter, Facebook, and share it with the world. Do me a big favor and tag

me, Paul Alex. Also, keep the five-star reviews on iTunes coming. This episode is going to help change the way the world thinks and will help everyone level up in their life. And lastly, if you want to continue to level up, learn more about business and life, then make sure to get a copy of my book, From Blue to Digital Gold, The New American Dream, on Amazon or at officialpaulalex.com.