How I Doubled My Net Worth Every 2 Years | BeatTheBush 

He's giving out the basics here. What gets measured, can be changed. Right now, I'm driving an 11 year old paid for Honda ( no bells, no whistles) my best friend drives a brand new car that magically opens when she walks up. It has seat warmers and the rear view mirrors auto adjust. The difference? My kids have a college fund and I have a 401(k). I have to remind myself that I can drive a new expensive car too but I CHOOSE to put my money towards my kids and my future. My husband and I only buy used, pay it off and drive it until it dies. We don't want to be old and broke.

Found a dollar on the street today. Doubled my net worth in 3 seconds

I own two irons. I am just lazy, that is why I didn't iron my shirt. But due to the 100+ comments repeating the same 'you should buy an iron', I am now scared to wear a wrinkled shirt on camera. Thanks RU-vid.

I walk into the mall and think 'if i don't spend any money it's like making money'

Started tracking in December. Every time I think about buying something I now think of how it will lower my next months total!

He is basically educating how to maintain a frugal and practical life style, and put all saving into investment to let the money to grow by itself.

Beat the bush my fav bit is when you change where your stuff toys go

This fellow has a lot of great advice. I retired a year and a half ago as an engineer. I was very proud that i was an engineer but it never defined what i was. Once an engineer always an engineer. You look at things from an analytical point of view . I just purchased a new Ram 2500 4x4 and i absolutely enjoy it. It makes me happy when i tow my boat to the lake and my family gets to enjoy being on the water and fishing. Best times of my life are with my family. My point is balance . I also made a six figure salary but i hated working for people who used my accomplishments for their benefit. I invested aggresively after the stock market bust in 2008 to 2009 and met my financial goal and one day called my mgr from my driveway and told him it was my last day. I no longer make six figures because i dont have to. Enjoy your life with your family or yourself. Prepare for the day you will retire. The last three years i worked 60 to 70 hours a week to purposely lead myself to burnout . When i reached that point i filled all my pension paperwork and 401k paperwork to roll over to an IRA and was ready to go. Best thing i ever did for my health.

I love the Millionaire Next Door by Thomas Stanley. It changed my perspective on "keeping up with the Joneses" forever. My husband and I really benefitted from reading this book.

what happened 6 or 7 years back that made you rethink and change your lifestyle of sorts?

The trivial reality of all those "thrifty rich" people (I'm one of them) is that if you have a job with unusually high income and don't spend it, you get wealthy quickly. Especially if the stock market keeps booming like it has done since the financial crisis. Coincidentally, it's been 8 years already... However, what most of those "personal finance gurus" don't care to admit is that the great majority of people does NOT have a six figure income to accumulate. It's gonna take a hell lot longer for a person with a normal income, and saving will be more difficult in some professions than others. Meanwhile, the basic life expenses are the same for everybody. While the rich yuppies talk about saving by not buying useless crap or expensive eating out, the equivalent option of an average person in a developing country might be saving by using coupons, not ever leaving their hometown, living under the bridge, or eating bland food day in, day out... the "sacrifices" to be made are a joke when you're a high earner, but rather more discomforting when you're not.

Thanks for the information. Appreciate you taking the time to share

My wife’s farther did everything you did. Had tons of money after years. Used to twist out paper towels to use again to save money lol. He passed away suddenly and the people left... They spent it all on stuff he wouldn’t have bought. She doesn’t even live in the house he paid for. I want a lot of money. But have some fun also. Whatever floats your boat.

Good stuff! The general public can learn a lot from you! Hope you keep it up.

Thanks for the tips man. I've been tracking my net worth for a few months now and I can already see the benefits. Keep it up!

Love the way you re-arrange your background buddies ! 👍🏼. BTB!

great info video. we need more!

What program do you use to chart your net worth as shown at 1:12 ? I’m doing mine in excel spreadsheet however I don’t know how to chart/graph my results over time. Thanks.

Whenever you do your first PUBLIC SEMINARS .... I want to volunteer to assist you with whatever you need. These videos are so insightful and I have been taking your advice and applying even the smallest shifts and moves in various areas of my financial life. I can imagine you traveling the country and giving seminars on these topics you present via video.

I usually can't stand videos like this but yours was actually practical and informative. Well done.

Congratulations! You sound so much like how I was 20 years ago. I too, graduated with a EE degree and was a software engineer back in the early 80's. And like you, I had a keen interest in investing and growing my net worth. Very good advice you are sharing. Keep it up for as long as you can because "life" will get in the way and if a family is part of the future, some of your spending habits will have to change :)

I have had about the same results as BTB. Basically kept my spending at the same as i did when i was making 7.50$/hr, as my income has gone up over 10 years, i still spend the same, but i save the rest. So 10 years later i went from a networth of say 10,000 to 300,000. And i really did not start investing in the markets up until 2 years ago, all of my "investing" was to pay down my house.

Look at the time period (starting from 2009 when the stock market begin to rise to the stratosphere). I was doing pretty well too but then got hit in 2001 and again in 2008. At one time in 2008, I lost almost 40% of my networth. After 2008, everything went straight up. I got everything back and more. NO skill or talent is needed. You can do everything right but if you live in a shitty period, your networth will suffer. What would happen to your networth if the stock market (and real estate market) crashes 40% tomorrow and stay there for the next 10 years?

I love how your always preach to not put one's self in the position to have recurring cost such as Subscriptions but then your #1 sponsor is a company that thrives on consumers subscribing and you offer it to us 😂

New comer to your channel. Wow excellent tips. Keep up the good work. I'll be watching.

thanks for making this video. $0 x 30 is still zero :p

Good informative Video but i would like to know , What kind of of investment are you doing? other than buying house or apartment.

Great video and as you point out it's all about a change in your mindset :)

What is your saving's rate? How much of your salary do you actually spend?

I love that the stuffed bat is hanging upside down in this one. It's always fun to see how you're going to place the stuffed animals.

so... there was no real explanation of how there was about 37% increase from net worth coming from unless BTB is implying he did it all from discounts and non branded purchases.

Hi I have a question has how much do you spend per month? Like everything bills insurance rent etc? Thank you greetings

Question: I've been saving aggressively for about a year to buy a house in cash. Budget 200k-cash- is this a good idea? Will take me a two years.

I clicked your audio book link. I am unclear about if you buy the book do they refund the money for the book or simply for the subscription?

A lot of good advice here! Thanks!

Do you increase your personal insurance liability coverage as your net worth also increases?

Lol those stuffed animals are so funny. I like how theyre in different positions in every video.

Thanks, your videos are very inspiring! It really changed how I should deal with my money.

Thanks man. I'm really learning a lot!

Hey, this may be to invasive of a question but how do you get clothing for free, from the banana republic?

If BeatTheBush is in the bay area, I'm guessing your current net worth is over well over 2 million including his home however I still feel including your home as part of your net worth is controversial unless for example your willing to sell a $900k home in the bay area and relocate to Arizona in a $350k home. Then you can add $550k to your net worth.

but how do you plan for retirement if you live as old as david goodall?

"Greatly Reduced" his trash costs. in other words, "throws trash in Wal-Mart dumpster at 3 am." lol

It'd be great if you could share how you did the Net Worth calculation, factoring tax and such. Another topic I'm interested in is that how to track investment performance, what metrics you use to evaluate, like CAGR. Thanks!

Good general advice. Not really talking about making any money, but a penny saved is a penny earned.... Very good way to start in life.

really curious what you were shorting?

Interesting video. Was expecting more talk about investment strategies but it's basically about frugality, which I agree can increase net worth exponentially. It's amazing what an income stream can do to someone. Some people spend like their money comes out of nowhere or that they'll never lose their job, when in actuality income is not infinite nor is job security. Putting money away is so important (i.e. cutting unnecessary expenses) and many people don't realise that.

I appreciate your videos. I would be interested to hear an estimate of how the outcome might have been different in an historically average period. 2009-present day is one of the longest and highest bull markets in history. This accounts for a significant portion of your % growth. Living frugally/within one's means and other sound personal finance management is important too. We just can't forget the context.

Do you mark-to-market the value of your house periodically to increase your net worth on your books? If yes, what is your method because if it isn't based on actual sale price, isn't it a bit subjective? And what % of the 37% is attributable to your house price increase? Because if a huge chunk of it it based on SF housing price boom, then it's a fluke being at the right city at the right period of time in history (IT boom) which cannot be replicated by your viewers. And less on frugality..

awe some man. I follow a similer kind of a life style. thanks for sharing.

What program did you use to keep track of your net worth and make that graph?

Paying loans early seems good until you realize you can invest that money and earn ~ 6-8% on average and earn a net of 4%+ depending on interest rate

Very nice video =) I love math, I have a bunch of questions pop up that probably are not okay to ask lmao :D Most impressive and noticable thing is that your net worth shows like a increasing growth (aka exponential/compounding) Just that doesn't sound sustainable haha Did you have credit card debt 7 years ago when you started? Cause paying off mortgage does compound but at most 5%. Between 10-13.5 you had a slow and steady growth and then you went in hyperdrive shooting up much faster. Is most of that due to stocks? Those have been slingshotted up and warrant the 35% increase, until the FED stops invlating them that is :P I guess I'm mostly interested in the growth % without stock gains, As for myself without looking at stocks my nethworth growth is much less as 35% LOL =P

How do you not have monthly cellphone dues? How do people, like employers, contact you?

Formula to calculate annual compounding return: Compounding Return = (End_Value / Start_Value)^(1/num_years) - 1

I often leave ratings for products, because I feel that it helps potential buyers decide whether they want to use a product or not. That is my reward, actually. I like sharing information, and appreciate when others leave feedback on something for the same reason. I rely on Amazon for feedback on items I am thinking of buying, or am comparing how good people think one brand is over another. However, oddly, I have been disappointed in some highly-rated items, and I wondered why so many people rated it so high. But there are websites that offer free drawings, and they sometimes pull from the reviewers. That happened to me a few months ago from a website from which I had left feedback on some nice soap. I don't know if I actually bought it from them or someone else. Anyway, I got an email that I had been chosen to receive $100 worth of free merchandise from their site. They sent me a code, and I spent most of the money and got my products. So, it pays to see where your ratings count. That website is Smallflower, and they have terrific products and prices. Thank you for another great video!

O yeah making all kinds of gains 💪✨👑

what does net worth mean? is it your savings incuding or discluding a mortgage.

Very good point about dealing with recurring costs. In fact, I think you should emphasize it even more. Another thing that helps is to have very simple rules of thumb that you can practice on the fly. For example, I consider something "cheap" only if I have enough cash (liquid assets) to buy one hundred of the said item. Just imagine buying one hundred TVs worth $1000 each, for example. This rule sort of breaks down once you have a lot of money, but I still consider it useful. For example, to consider a $30,000 car as "cheap" I'd have to have $3M in cash assets. Imagining buying a hundred such cars is an interesting thought exercise on its own. Yes, new cars are expensive.

Thank you for the info on Lending Club. I have personally borrowed money from lending club and one of the things I noticed was an option to become an investor. I paid off my loan early and considered doing the next step. I was looking for an investment for retirement. Watching your video about the underlining "flags" most of us have not cosidered, changed my mind about using Lending Club. Thanks for sharing.

I would have like to have seen a past year spreadsheet showing us how you calculate your net worth. Robert Kiosaki has one of the templates for calculating your net worth and it compares his definition of net worth and also shows the bankers definition of net worth via a comparison on the same spreadsheet. He does not consider a house an asset and goes deep into why in his many books. At first I disagreed with him but the financial housing bubble in 2008 has proved him correct. I am going to do this tracking of net worth like you have done. I did go and buy the hard cover of the book " intelligent investor by Benjamin Graham". I am old school and like hard covered books versus reading them on my IPad. I think you have done a great job on the saving money and plugged leaks in your expenses. Have you now shifted your mindset into one of more earnings and multiple streams of income?

6:53 I don't know about other student loans, but in Sweden they are about 1% per year. I would advice anyone that's even the slightest bit interested in investing to pay off these loans as slow as possible. To beat 1% per year is not difficult. Let's say that you can get a 7% return per year on your investments. This means that you will yield 6% (7% - 1%) per year on money that you wouldn't have otherwise. Cheers!

You are the frugal millionaire! Good for you! My philosophy has always been, It's Not How Much You Earn, It's How Much You Save! I have privately giggled to myself when I would hear how much my co-workers were in debt because they had all the fancy stuff, but it never dawns on them to hang on to those cars, clothes and houses for more than just a few years. It's just crazy to me! By the way, if you ever want to get rid of those adorable peas in a pod, let me know!

You should invest into an iron for your shirt, lol. Thanks for the info, it makes sense.

I also agree here with you. It is sensible approach. Stocks have a lot of nasty surprises which are found out after not before we own

I'm going to be transferring to a University in 2019 to get my bachelor's in Engineering. I have some money saved right now, do you think I should invest some of it (say $3000 which is minimum for S&P 500 index fund) or just save it all for when I transfer? Note, I would have over a year to save that money up again. I'm also 19.

Nice video, most of the ideas for the networth increase suggested in this video seem to come from minimizing the liabilities side of the equation, what about building assets like rental properties, investing in stock market instead of just saving or paying off mortgage? Unless one has a serious increase on income side, it's pretty difficult to double the networth every two years.

do video on taxable investment accounts

Hi BTB, How has your networth been doing for the past 2 weeks during the market down turn? did you manage to keep it up?

beatthebush, 2 thumps up!

I buy any tools I need from Lowes or Home Depot and always return them when finished. Shop at good will in the richest zipcode twice a year.

those peas make my day.

Broke people always have smart comments to make.

So with no credit cards or monthly payments how are you with your credit score?

How long did it take before you got to the "income snowball"? Thanks for the great videos by the way!

Hey BeatTheBush. I think your Dino would appreciated if you replace the peas for the steak! Good for you man on the 37% increase. I have not paid for a phone in over two years. Also, I do not have cable...I had cable because of the NFL, but with just $40 antenna, I can see those games for free as well as other channels and it paid for itself in a month!

soon all the world's money will go to you well done!

Thanks for the video. I have a couple questions I hope you can answer: 1. How did you get free clothes from Banana Republic? 2. Do you have a prepaid cellphone, or do you not have a cellphone at all? What about internet...you must have that if you have a youtube channel? Or maybe you go to the library to upload your content?

How do you get rid of credit card annual fees?

No monthly phone bill?! How did you pull that off? How did people get a hold of you? I've been wanting to get rid of my phone bill for a while now!

I recently did a net worth check. Mine is well over 7 figures. I am also an engineer. I own a (fully furnished) house, 2 cars, and 2 sport bikes (yes, I drive all vehicles, time permitting). I carry very little credit card debt (all paid off as soon as the bill comes in). I do everything what you described in most of your videos. I sock as much as 65% of my take-home pay. I hope to get in to some hobbies/specialties that would eventually supplement my income.

Investing is key to doubling your networth. I like making "financial plays" because if your idea works you are in the clear and way above water for a while. This is kinda hard to do but the reduction of buying "shiny" things is a basic way to save money. Keep remaining positive and optimistic about thr future. Great vid!

I knew you were an Engineer as soon as I saw Matlab. EE I'm guessing?

When you get a chance I would like you to do a video on the dividend stocks you have and like. I was looking at Hersey and some of the companies that pay a royalty from gold- they loan to gold mine owners and get a contract to buy their gold for about a third of spot price. They seem to be safer than all out gold mining stocks, I like the royalty or dividend aspect.

I love the millionaire next door. Such an insightful book. I'm also a big fan of index funds vs mutual funds or active trading. I believe index funds would be the best solution for retirement for the vast majority of the population. Simple, low fees, stocks go on sale during a recession and ultimately (so far, anyway), the market always goes up.

Good for you! Financial sensibility, what a concept!

do u include your home value in net worth?

I love your videos and advise. I'm curious to know how old you are and at what age you came up with this wisdom.

Just subscribed after watching your BitCoin video. Now i'm on my 5th video. Great content and fantastic advice. Thanks!

It's amazing how you take time out to respond to your viewers

Great video! I"ve learned that there are two schools of thought when it comes to wealth. Some bring their income up to the lifestyle that they'd like to live. While others sacrifice their lifestyle that they want to live and bring it down to their income. Neither is right or wrong. The power is in having choice. I for one am always thinking of ways to bringing up my income to the life style i'd like to live. Because if my subconscious mind can feed me ideas on how to live off of 50k /yr, then it damn sure as hell can feed me just as good ideas on how to double, triple or hell shoot for the stars and make my yearly salary my monthly salary. There are people who "save" their money and there are people who "manage" their money. Again; neither is right or wrong. It's just what you choose to do ;-)

I'm not sure where you are from, but if you are from the Bay Area CA and you bought a house in 2009 in the shittest place in Oakland for 100k. By 2017 is at least 300-500k so you don't have to do anything your net-worth will be pretty damn high. If anyone ask where can you buy a house for 100k, between 2009-2011 MANY east Oakland houses were all under 100k.

so why dont you explain to your viewers how you get a 37% return every year.. this video just tells you how you manage your cash flow from your engineering gig.. not helpfull at all. what do you do just think your net worth is going up cause your house is appreciating and you are leveraged up because you have barely any equity in your house and the prices in your area are increasing a lot? Are you counting your returns based on the equity you have in your house which is obviously going to be a big return every year if the housing in your area is going up. you seem like you have very limited knowledge on finance

I completly agree with these assessments. I started following my net woth in 2014 just after buying my house. I have almost the same profil Engineer with a paycheck every month. First year I increase by 21.4%, second year 30.6% and third year 34%. the legit question is; what is the part of self growing (I mean out of salary). That will be a good indication of how far you are from your retirement. I did a lot of mistakes before following my networth, after that, I became more careful. And having kids to take care of doesn't make things easy. Thier expenses ans school fees are an investment that can't fit in any box of my excelsheet (Liability/asset?) lol

Tracking networth overtime is a great idea. Can you share the template of a google sheets/excel file you use to track yours? Thanks

What I got out of this video is your net worth growth rate comes from not spending money by cutting bills when possible and buying cheap items or recycling....I doubt that is the full story. Saving money is okay but not really thanks to inflation. Spending money foolishly is also bad. Good advice about minimizing expenditures. However very little was said about the other half that determines net worth growth rate, the different income sources you tap into and influences to increase income from each of the sources. I don't know you at all but I can see you are doing at least the following. - promoting yourself and your "brand" to the point you can generate additional income from patreon and sponsorships like audible - not letting you money sit idle by investing into real estate and the stock market. I think you held out on the critical things you do that leads to your success.

Hey @BeatTheBush, I have a quick question. Did you have a mortgage on your house? How did that fit into your net worth? I am nearing home ownership and wonder how it should fit into my monthly net worth calculations. Thank you for your videos!

You're very smart with your finances so it makes sense you chose to own instead of rent =] Congrats!

Hi, Could you please make a video breaking down what portion of your net worth is your home and what portion is your 401k, brokerage account etc? I think this would be very helpful.

You advised us not to join subscription things, and then try to get us to use your affiliate link for an audible subscription?