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To maximize your income, live on the smallest amount of money possible and invest.
You cant save yourself to wealth, but you might spend yourself there either, he noted.
Living on a small portion of your income frees up funds to invest.
Learn to live off very little and start accumulating.
Then decide at what level youre going to start investing in other things, he said.
You dont want to sell abusiness or thingsfor much cheaper than you should because theres no emergency fund.
Dont finance a lifestyle you cant afford.
If you cant afford it, go make more money to get it, he said.
Delay the extravagant lifestyle and invest in your skillset and yourself.
Martell was broke when he hired a business coach.
He only had two months worth of funds to pay him, but it was a year-long commitment.
In that year, he made over $1 million dollars.
When investing, most often, the biggest return happens when its something in your wheelhouse.
At work, the goal is to manage your workload effectively, and its the same with your household.
Treat your house like a business, Martell said.
Have someone oversee your finances and review your investments to eliminate thestress and burden.
The wealthiest people arent managing their own estates, he explained.
They have estate managers.
They have people that run their personal life just like a business.
How do you do that?
You have a P&L.
You have your income, you have your expenses, you create budgets.
You do the same thing you would in a business just do it with your personal stuff.
If having nice things stress you out, you are a prisoner to those nice things, he said.
To be truly successful, its about personal growth, according to the multi-millionaire.
Otherwise, having wealth is lonely, Martell said.
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