The strategy that could change everything

this is your moment to act

December 09, 2024

The strategy that could change everything

The dreamers and the doers, the ones who see wealth as more than numbers in a bank account.

You’ll discover actionable strategies to create financial freedom, learn from those who mastered the game, and get exclusive insights into the latest business moves shaping industries.

Here’s what’s inside:

  • The overlooked wealth-building habit of the ultra-rich.

  • Storytelling: how Andrew Carnegie went from rags to riches.

  • Breaking business news: Jeff Bezos bets big on AI.

Curated Insights:

  1. Focus on Ownership: 90% of the world's millionaires gained wealth through owning something, be it a business, intellectual property, or real estate.

  2. The Rule of 72: Want to double your money? Divide 72 by your investment's annual return rate to find out how many years it’ll take.

  3. Wealth is Time, Not Things: Prioritize systems and habits over flashy purchases.

Main Feature: Andrew Carnegie's Playbook for Success

When Andrew Carnegie emigrated to America in 1848, he had nothing. By 1901, he was the richest man in the world after selling Carnegie Steel for $480 million—equivalent to $15 billion today.

So, how did he do it?

  1. A Relentless Focus on Education: Carnegie borrowed books to self-teach himself business skills and economics. His belief? The best investment you can make is in your own mind.

  2. The Power of Compound Work: Carnegie often said, "Do your duty and a little more, and the future will take care of itself." Whether learning new skills or building a business, his incremental efforts compounded over decades.

  3. Strategic Giving: Later in life, he famously donated 90% of his wealth, creating libraries and education systems. Carnegie proved that true wealth isn’t just about making money; it’s about leaving a legacy.

Lesson: Start small, stay consistent, and always think long-term.

The Billionaire Moves You Should Know

  • Jeff Bezos & AI: Reports say Amazon's founder is launching a $5 billion initiative to integrate AI into its supply chain. The lesson? Spot trends early.

  • Elon Musk’s Legal Play: Musk is suing OpenAI, claiming competitive misuse of Tesla’s proprietary data. Business strategy or personal vendetta? Either way, it’s proof that safeguarding your intellectual property is non-negotiable.

What to Do Next:

  1. Choose one habit to master this week (think: saving 10% or reading 10 pages of a finance book daily).

  2. Write down your wealth-building vision—where do you want to be in 10 years?

  3. Hit reply and share your thoughts.

Until next time,
Elias
Old Money Journal