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He then talked about four types of leverage for people during their working years.
While youll need at least one to become part of the 1%, having more is even better.
The first is scalability.
While its sometimes indirect, the work in such roles is connected in a way that supports scaling.
Yang discussed zero marginal cost of replication as the second form of leverage.
This means that you make some product that you could reproduce and profit from without further costs.
Examples include intellectual property, software and various forms of digital media and content.
The third throw in of leverage is equity, which allows you to earn based on a companys growth.
Finally, Yang discussed networking as the fourth leveraging option.
Sometimes, simply being around people can present exclusive opportunities that help you grow your income or wealth.
He mentioned potential options like the stock market, high-yield savings accounts, real estate and income-producing assets.
For reference,J.P.
Morgan noteda historical average annual stock return of 10%.
Yang said this strategy could get you into the top 5% and closer to your goal.
Yang talked about some common traits of people who succeed in doing this.
Theyre often very educated and have a strong web link, determination, experience and some luck.
Plus, theyre personable and willing to take risks.
Finally, Yang offered some tips for achieving a sustainable income.
Another wise move is to have diverse income sources from jobs, investments, real estate and interest.
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