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How To Go Homeless and Bankrupt At 29 (After Going From Broke to 5 Figures a Month)

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William Steele

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A friend of mine recommended to me Rich Dad Poor Dad, I had never read books. I was like everyone else. Working paycheck to paycheck, inflating my ego on a daily basis, and drifting through life.

I managed to pick up a copy of Rich Dad Poor Dad and started reading, after just a few pages, I was hooked. After reading it, It was a big eye-opener to say the least. It was at the same time I also met a woman that was about 40. She had been an entrepreneur since she was 22 and was making money (big money) by 24. I got to spend time with her frequently, which changed my life. You only meet a few of those people in your life if you're a normal person working a 9-5. The person who makes you say to yourself, "this person is very different from everyone else... I need to watch this person very carefully".

I started studying business, marketing, advertising, and success in general. Then I came across The Millionaire Fastlane . It was the second book I read after Rich Dad. I've read hundreds of books since then, and it's still in my top 5 books I've ever read. #1 book for someone who knows nothing about life and business.

It's a powerful blow to your balls, ripping out your thoughts of what you thought about how life works. Everyone should read it, but they don't, because they can't focus on anything for more than 3 seconds... but that's a different post. I also started reading everything on The Fastlane Forum.

That was about 8 years ago when I was 21... what a ride it's been. A ride through hell.

It took me years to start thinking differently than the average broke people I've been around my whole life. Finally around 24, I started trying things instead of just learning. I got a job in advertising and started getting freelance clients. After gaining experience, I landed a client that started paying me 5 figures a month.

Now, I want to take a second and add some context here. When you go from being broke, living paycheck to paycheck... barely. From always having "money issues", from money ALWAYS being a massive strain on your daily life...

...to getting monthly checks for over $20,000.

It messes with your head... a lot. I said to myself, "I'm gonna be smart about this, not going to spend any money on stuff for a while". That lasted 2 months.

I started going out to eat. Once a week, became every day, every day became multiple times a day. I got a fancy apartment in the downtown area. I started spending over $100-200 every day.

Then one day, the big client fires me. I instantly started rationalizing to myself, "no problem, I'll just get another client... later". I kept spending money because I had built these spending habits over the past year. I kept spending and spending, digging myself a financial grave.

I'll spare the other details, use your imagination. In short, this led to massive credit card debt, depression, living in my car, and going back to minimum wage jobs. Ultimately leading to filing for bankruptcy in my 20's.

The question is, do I regret it?

Not a damn thing. The number of lessons I learned through all of that, I wouldn't trade them for anything.

Business is war. Bankruptcy is a battle wound. It hurts, but if you overcome it, that wound heals, leaving you with a badass scar with an unbelievable story. More importantly, you come out stronger and more intelligent by multiples and multiples.

The moral of the story is: don't go to strip clubs every day...

I'm kidding... but that's a good joke.

Conclusion

I've been working on a publishing business for a couple of years, it's gaining traction. Before long, I'll be right back where I was. Only with a real business, with real systems in place, and a Steele-like foundation that won't break just because a client fires you.

P.S. Not long ago, one of the smartest businessmen I know said:

"Money makes you stupid".

If only I heard that back then.

P.P.S. The Fastlane Forum... I missed you. It's good to be back.
 
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Everyman

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Nice intro William! And nice to meet you!

Looking forward to reading more of your experiences.
 

SEBASTlAN

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A friend of mine recommended to me Rich Dad Poor Dad, I had never read books. I was like everyone else. Working paycheck to paycheck, inflating my ego on a daily basis, and drifting through life.

I managed to pick up a copy of Rich Dad Poor Dad and started reading, after just a few pages, I was hooked. After reading it, It was a big eye-opener to say the least. It was at the same time I also met a woman that was about 40. She had been an entrepreneur since she was 22 and was making money (big money) by 24. I got to spend time with her frequently, which changed my life. You only meet a few of those people in your life if you're a normal person working a 9-5. The person who makes you say to yourself, "this person is very different from everyone else... I need to watch this person very carefully".

I started studying business, marketing, advertising, and success in general. Then I came across The Millionaire Fastlane . It was the second book I read after Rich Dad. I've read hundreds of books since then, and it's still in my top 5 books I've ever read. #1 book for someone who knows nothing about life and business.

It's a powerful blow to your balls, ripping out your thoughts of what you thought about how life works. Everyone should read it, but they don't, because they can't focus on anything for more than 3 seconds... but that's a different post. I also started reading everything on The Fastlane Forum.

That was about 8 years ago when I was 21... what a ride it's been. A ride through hell.

It took me years to start thinking differently than the average broke people I've been around my whole life. Finally around 24, I started trying things instead of just learning. I got a job in advertising and started getting freelance clients. After gaining experience, I landed a client that started paying me 5 figures a month.

Now, I want to take a second and add some context here. When you go from being broke, living paycheck to paycheck... barely. From always having "money issues", from money ALWAYS being a massive strain on your daily life...

...to getting monthly checks for over $20,000.

It messes with your head... a lot. I said to myself, "I'm gonna be smart about this, not going to spend any money on stuff for a while". That lasted 2 months.

I started going out to eat. Once a week, became every day, every day became multiple times a day. I got a fancy apartment in the downtown area. I started spending over $100-200 every day.

Then one day, the big client fires me. I instantly started rationalizing to myself, "no problem, I'll just get another client... later". I kept spending money because I had built these spending habits over the past year. I kept spending and spending, digging myself a financial grave.

I'll spare the other details, use your imagination. In short, this led to massive credit card debt, depression, living in my car, and going back to minimum wage jobs. Ultimately leading to filing for bankruptcy in my 20's.

The question is, do I regret it?

Not a damn thing. The number of lessons I learned through all of that, I wouldn't trade them for anything.

Business is war. Bankruptcy is a battle wound. It hurts, but if you overcome it, that wound heals, leaving you with a badass scar with an unbelievable story. More importantly, you come out stronger and more intelligent by multiples and multiples.

The moral of the story is: don't go to strip clubs every day...

I'm kidding... but that's a good joke.

Conclusion

I've been working on a publishing business for a couple of years, it's gaining traction. Before long, I'll be right back where I was. Only with a real business, with real systems in place, and a Steele-like foundation that won't break just because a client fires you.

P.S. Not long ago, one of the smartest businessmen I know said:

"Money makes you stupid".

If only I heard that back then.

P.P.S. The Fastlane Forum... I missed you. It's good to be back.
Wow, very similar story to mine.

Welcome brother.
 

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