Project Life Mastery

42 Life-Changing Books For Mastering Every Area Of Your Life

Stefan James — Tue, 23 Nov 2021 16:00:36 +0000

These 42 life changing books will improve every aspect of your life.

These books have shaped my beliefs and values. They have shifted my perspective, in terms of how I see myself, others, and the world.

In this blog, I break down my book recommendations into 10 different areas of life.

I would not be who I am today if it was not for these incredible books.

If you are committed to expanding your mind and mastering every area of your life, read this!

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Books open your mind to what is possible.

The mission of Project Life Mastery is to be a positive example of the unlimited possibilities that life offers for those that are truly committed to mastery. I have been obsessed with learning and growing in all areas of my life since I was 17 years old.

Unfortunately, as Jim Rohn says, “Most people in life major in minor things.” A lot of people know more about celebrity gossip than they do about their mind, body, and spirit. You want to make sure that you are majoring in things that matter.

There are only so many areas of life that truly matter. If you end up neglecting these areas, negative consequences will ensue. Thus, it's worthwhile to feed your mind and invest your time and energy into learning about different aspects of your life.

Did you know that reading strengthens your brain? Using MRI scans, researchers have confirmed that reading involves a complex network of circuits and signals in the brain. As your reading ability matures, those networks also get stronger.

On top of giving your brain a workout, reading is also one of the most effective ways to find solutions to problems. Whatever adversity that you're currently facing in life, there is someone who has been through the same adversity and they've been able to overcome it.

Not only that, but they've shared their wisdom and experience in a book that you can buy for $10-20. You get to benefit from their lifetime of knowledge. How incredible is that? Your behaviors follow your beliefs. If you implement what you learn, your life will change.

It's that simple.

Whenever someone asks me what books they should read I often respond with, “What area of your life are you focused on right now?” The books you read should always be relevant to what you want to move towards or away from. That's why I've broken down 10 categories of life and my best 4-5 recommendations in each category.

Let's dive into 42 life changing books for mastering every area of your life!

NOTE: These links are Amazon links and will direct you to the Amazon.com website when you click on them.

GENERAL SELF-HELP

1. Awaken The Giant Within: How to Take Immediate Control of Your Mental, Emotional, Physical and Financial Destiny, Tony Robbins

I first read this book when I was 21 years old. Tony Robbins has been one of the biggest influences in my life. A lot of what I believe in and who I am is based on his teachings.

The concept of my brand, Project Life Mastery, was inspired by Tony. He coined the term life mastery. That idea resonated with me and I decided to go ahead and build a business around it.

Another book of Tony's that I recommend you read is called Unlimited Power. This book is based on the concept of neuro-linguistic programming (NLP) which is a methodology for producing change within yourself.

2. Think And Grow Rich, Napoleon Hill

Some people discredit Napoleon Hill based on certain stories that have emerged about him. Nonetheless, this book is a classic which focuses on the psychology of success. Napoleon draws on stories of millionaires of his generation to illustrate his principles.

There is even a chapter inside of the book that is focused on sexual transmutation, which teaches you how to channel your sexual energy to create success. Desire for success is the strongest of all human desires. Learning how to channel that energy into whatever it is that you want to accomplish is a valuable thing.

3. The 7 Habits Of Highly Effective People, Stephen Covey

Inside his book, Stephen presents a framework for personal effectiveness and success. He argues that change starts from within. Thus, if you want to cultivate success in life you first have to develop your character. He draws upon the 7 habits of highly effective people, which include the following

Be Proactive
Begin with the End in Mind
Put First Things First
Think Win-Win
Seek First to Understand, Then to Be Understood
Synergize
Sharpen the Saw

One of my favorite habits is to “seek first to understand, then to be understood.” People are too quick to project their rigid opinions and beliefs onto others. Even if I don't agree, I always strive to always listen and understand others' perspectives.

4. 12 Rules For Life: An Antidote To Chaos, Dr. Jordan Peterson

Dr. Peterson is a well-known Canadian clinical psychologist and University professor. This book is more challenging to read than other self-help books. I suggest that you watch his debates and lectures on social media first.

Doing so will help you understand his position on certain topics before diving into the book. He explains things in such interesting ways that it's difficult to disagree with his viewpoints. His principles are rooted in helping people think differently.

One powerful piece of wisdom that I've learned from him is that you want to reflect upon a belief from multiple viewpoints. The goal is to have an open mind and be flexible to determine the highest form of truth.

MINDSET

1. Grit: The Power of Passion And Perseverance, Angela Duckworth

Inside her book, Angela highlights something called the Hard Thing Rule. She talks about the importance of doing one hard thing every day which helps to build grit. You don't grow and become more by staying comfortable.

You get stronger by stepping outside of your comfort zone every day and doing things that make you uncomfortable. When you wake up every morning ask yourself, “What can I do today to challenge myself?”

My one thing is taking a cold shower every day. Your's can be whatever you want, as long as it is uncomfortable for you.

2. Relentless: From Good To Great To Unstoppable, Tim Grover

Tim was the trainer for famous athletes like Michael Jordan, Kobe Bryant, and Dwayne Wade.

In this book, he talks about the mindsets of athletes and how they differ from the average person. On top of that, he reveals what it takes to achieve the kind of relentless discipline and success that famous athletes have.

3. Can't Hurt Me: Master Your Mind And Defy The Odds, David Goggins

David is a retired U.S. Navy SEAL, cyclist triathlete, and runner. Anything extreme, he's done it. This book is the story of his life. Although he came from a dysfunctional beginning, he still went on to achieve great things in life.

It's inspirational to read how he was able to turn his life around. If you are someone who struggles with procrastination or laziness, this book will show you how you can master your mind and do the impossible.

4. Mindset: The New Psychology Of Success, Carol Dweck

Inside her book, Carol breaks down the difference between the fixed mindset and the growth mindset.

People with a fixed mindset don't believe that it's possible to change. Conversely, people with a growth mindset believe that abilities can be developed through hard work. She talks about how people can put a growth mindset into action to accomplish great things in life.

HEALTH

1. How Not to Die: Discover the Foods Scientifically Proven to Prevent and Reverse Disease, Michael Gregor

This book is promoting a vegetarian diet. What I love about this book is that every chapter is focused on a specific disease.

More importantly, the knowledge is backed by science.

A lot of diseases are preventable if you change your lifestyle and eating habits. I've considered buying this book as a gift to people because the information is so valuable.

2. Fats That Heal, Fats That Kill: The Complete Guide to Fats, Oils, Cholesterol, and Human Health, Dr. Udo Erasmus

Many years ago I interviewed Dr. Udo Erasmus on my YouTube channel. Dr. Udo is the world's expert in essential fatty acids. He is the creator of Udos Oils and the co-founder of the Udo's Choice supplement brand.

In this book, he talks about the science of fatty acids and sheds light on the manufacturing processes that turn healing fats into toxic fats.

3. The Reboot with Joe Juice Diet: Lose Weight, Get Healthy and Feel Amazing, Joe Cross

I came across this book after watching Joe Cross's documentary, Fat, Sick, and Nearly Dead. In his documentary, he talks about how he did a 90-day juice cleanse, transformed his body, and healed the symptoms of his autoimmune disorder.

Not only that, but he inspired many others to do the same. This book is a practical guide on how to do a juice fast and reboot your body. I was so inspired after reading it that I ended up doing a 14-day green juice fast.

4. Your Body's Many Cries for Water, Dr. F. Batmanghelidj

This book shares clinical and scientific research that highlights the importance of water. At one point in his life, Dr. Batmanghelidj worked in an Iranian prison. While there, he was able to treat and cure the ailments of prisoners through water therapy.

In the book, Dr. Batmanghelidj talks about how many diseases are caused by dehydration. Thus, it's so important that you keep hydrated, especially if you feel fatigued or struggle with brain fog.

MENTAL HEALTH/ADDICTION

1. Man's Search For Meaning, Dr. Victor Frankl

Victor Frankl was an Austrian psychiatrist and Holocaust survivor who lived in Auschwitz. In his book, he talks about being an inmate of a concentration camp and how his experiences shaped his understanding of meaning.

While he was in Auschwitz, he became fascinated with studying how people were able to find empowering meanings from horrific circumstances. In particular, why some people make it through suffering while others do not.

He went on to popularize the theory of Logotherapy, which is designed to help people find meaning in their lives. In the words of Victor Frankl, “Everything can be taken from a man but one thing: the last of the human freedoms — to choose one’s attitude in any given set of circumstances, to choose one’s way.”

2. Dopamine Nation: Finding Balance in the Age of Indulgence, Dr. Anna Lembke

Dr. Lembke was recently a guest speaker on the Joe Rogan podcast where she talked about mental health and addiction. After listening to the episode I was inspired to read her book. Her book sheds light on the power of dopamine.

For those of you who don't know, dopamine is a neurotransmitter in your brain. When you overstimulate dopamine, you experience a dopamine crash. In her book, she talks about how our lifestyles contribute to a lot of mental health issues and advocates that people do a dopamine detox.

3. The Molecule of More: How a Single Chemical in Your Brain Drives Love, Sex, and Creativity – And Will Determine the Fate of the Human Race, Daniel Z. Lieberman & Michael Long

This book changed my life.

At the time, I was addicted to achieving more, which is caused by dopamine. The authors describe how our society has grown from a desire for more dopamine. They also talk about how dopamine deficiencies can lead to mental health issues and addictions.

This book shifted my values in life. Over the last few years, I've been spending less time focused on achievement and more time focusing on the here and now. As a result, I've been able to rebalance the molecules in my brain and feel happier and more fulfilled.

4. Recovery: Freedom from Our Addictions, Russell Brand

For those of you who don't know, Russell Brand is a famous comedian and actor. He has publically expressed his struggles with addictions to drugs, alcohol, sex, and pornography. In his book, he shares his story of addiction and introduces the 12 steps that are used in Alcoholic Anonymous.

More importantly, he offers advice and wisdom from his experiences as an addict. Through his writing, he encourages people to identify the pain that their addictions are masking.

5. Your Brain on Porn: Internet Pornography and the Emerging Science of Addiction, Gary Wilson

When I was a teenager I was addicted to pornography. I never thought there was anything wrong with it. Unfortunately, I wasn't aware of how it was affecting my brain.

This book shed light on that. It talks about how pornography overstimulates dopamine, objectifies the opposite sex, and inevitably ruins relationships.

RELATIONSHIPS

1. The Five Love Languages: The Secret to Love That Lasts, Dr. Gary Chapman

In his book, Gary Chapman shares that there are 5 Love Languages or 5 ways that we can communicate love to someone – words of affirmation, quality time, receiving gifts, acts of service, physical touch.

If you want to get your needs met in a relationship you must know what your love language is and communicate it to your partner. Equally so, you must know what your partner's love language is.

A lot of people make the mistake of assuming that their partner has the same love language as them. Thus, many of the challenges that couples face stem from not acknowledging one another's needs.

This book has a quiz that helps you determine what your love language is and provides some great advice on how you can show up for your partner's love language.

2. The Seven Principles for Making Marriage Work: A Practical Guide from the Country’s Foremost Relationship Expert, John Gottman

Dr. John Gottman is a professor of psychology at the University of Washington. He specializes in studying the habits of married couples. In this book, he shares the behaviors and skills that help couples create healthy and long-lasting relationships.

You don't have to be married to receive value from this book. It's a great guidebook for anyone who wants to embody the qualities that help make a relationship successful.

3. Cupid's Poisoned Arrow: From Habit to Harmony in Sexual Relationships, Marnia Robinson

This book shares a different approach to love-making with your partner. When you have an orgasm, you experience a dopamine crash. It takes two weeks for your brain to normalize and achieve a state of equilibrium.

Having orgasms consistently can negatively impact your relationship. It can make you feel more irritable and less connected to your partner. This book touches on tantric sex and teaches you how to create more passion and intimacy in your relationship.

4. The Way of the Superior Man, David Deida

This book is designed for men, but women can read it as well if they want to understand men on a deeper level. In his book, David Deida touches on a lot of important issues that men face.

This work has helped build the men's group movement. Each chapter of this book is filled with so many pieces of wisdom that offer practical tips on how men can live more authentically.

FINANCES

1. Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!, Robert Kiyosaki

In this book, Robert Kiyosaki shares a story about his Rich Dad and his Poor Dad. His Poor Dad, who was his biological father, had a belief system that was similar to the rest of society – go to school, get a good education, work until you're 65 years old, and then retire.

Conversely, his Rich Dad instilled within him the belief that he should start a business of his own as a way to create financial abundance. In the book, Robert talks about the difference between an asset and a liability and explores how you can use money as a tool for creating wealth, among other things.

2. Money: Master the Game: 7 Simple Steps to Financial Freedom, Tony Robbins

This book is based on Tony's extensive research and 1-on-1 interviews with 50 of the world's greatest financial experts, some of which include Ray Dalio, Carl Icahn, Warren Buffett, and Sir John Tempelton.

This book influenced my investing mindset and strategy. If you don't want to read the whole book, Tony has a shorter version called Unshakeable.

3. The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime, MJ DeMarco

In this book, MJ criticizes the get rich slow mentality for creating wealth which preaches the importance of going to school, getting a good job, and saving for retirement. Instead, he teaches an alternative road to create wealth that will help you become a millionaire, faster.

I attribute a lot of the success that I've had in my business to the teachings I've learned inside of this book.

4. Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth, T. Harv Eker

This book talks about the inner game of wealth and helps you understand what your money blueprint is. Harv believes that each of us possesses an internal money script that determines how we relate to money.

Your blueprint is based on the people with whom you surround yourself and the experiences that you have in life. In his book, Harv outlines 17 ways that the money mindset of rich people differs from that of poor people.

BUSINESS

1. The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It, Michael Gerber

A lot of people decide to become entrepreneurs because they like doing something and want to make money from it. However, just because you like something doesn't mean you'll succeed in the business world.

This book talks about the value of working ON your business instead of IN your business. Michael shares some of the most common challenges that business owners face, and his strategies for how to create a successful business.

2. The 4-Hour Workweek: Escape 9-5, Live Anywhere and Join the New Rich, Tim Ferriss

This book shifted my entire perspective on work and business. Tim Ferriss' book taught me that it is possible to escape the rat race and create life on my terms. I learned that I didn't have to work 40 hours a week and postpone living until I retired at the age of 65.

Instead, I could systematize, automate, and outsource my business so that I could live large NOW and create financial freedom. This book taught me that I have the power to create the life of my wildest dreams, which is what I have gone on to accomplish.

3. Principles: Life and Work, Ray Dalio

Ray is a billionaire investor who founded one of the world's largest hedge fund companies.

In this book, he shares the guiding principles that have contributed to his massive success. He walks you through a 5-step process for achieving your goals and dreams in life.

4. Sam Walton: Made in America, Sam Walton

This is the autobiography of Sam Walton, who is considered to be one of the greatest entrepreneurs in the retail industry.

Sam came from humble beginnings. He went on to build the empire, Walmart, which is now one of the largest retail stores in the world. In this book, he shares his rags to riches story and his principles for running a successful business.

MARKETING

1. Influence: Science and Practice, Robert Cialdini

This book talks about what influences us as human beings. In particular, Robert talks about the factors that lead someone to say “yes.” This is extremely important when we talk about the world of marketing.

Robert talks about the psychological principles that guide human behavior, which include social proof, scarcity, liking, authority, and reciprocation. If you're interested in marketing, mastering these principles will contribute to your success.

2. Getting Everything You Can Out of All You've Got, Jay Abraham

Jay Abraham is one of the best marketers in the world. He works with some of the largest companies in the U.S.

Using examples from his own experience, Jay talks about a lot of amazing marketing principles in this book. He explains how to you can find and create new business opportunities using his success principles. If you have an online business, this is a must-read book.

3. Traffic Secrets: The Underground Playbook for Filling Your Websites and Funnels with Your Dream Customers, Russell Brunson

Russell is a digital marketing expert and the co-founder of ClickFunnels. In the world of business, attention is the most important thing that you can have online. If you don't have people's attention, you can't sell your products.

In this book, Russell shares 20 of his best-kept secrets about how to market and get traffic to your product.

4. Building a StoryBrand: Clarify Your Message So Customers Will Listen, Donald Miller

This book will help you identify the story of your brand and why people need to connect with your story.

Donald gives strategies for how to communicate your story effectively so that you can attract people and build a raving fan culture.

SPIRITUALITY

1. A New Earth: Awakening Your Life's Purpose, Eckhart Tolle

This is one of the most life-changing books I've ever read.

In this book, Eckhart talks about the importance of living in the present moment. He guides you through a process of how you can awaken to a new state of consciousness, one that will bring you lasting fulfillment and happiness.

2. The Untethered Soul: The Journey Beyond Yourself, Michael Singer

Michael Singer was a very successful entrepreneur, multi-millionaire, and CEO of a billion-dollar public company. After experiencing a spiritual awakening, he stepped away from all of his success to pursue a spiritual practice.

In his book, he teaches people how to surrender and let go so that they can remove the negative blocks that reside inside of them. He has a great course that I recommend called Living From A Place of Surrender.

3. Power vs. Force: The Hidden Determinants of Human Behavior, David R. Hawkins

In his book, David Hawkins talks about the connection between consciousness and human behavior. He introduces what he calls “the map of consciousness.” Every human being can measure their consciousness on a scale from 1 to 1,000.

Anything between 700-1,000 is considered to be enlightenment. Less than 200 is considered to be “force” which is equated with suffering. When you raise your consciousness beyond 200, you set yourself on the path to experiencing fulfillment in life. I've noticed that my consciousness has expanded just from reading this book, before putting anything into practice.

4. Letting Go: The Pathway of Surrender, David R. Hawkins

In this book, David talks about how to free yourself from negativity and let go of the inner blocks that are preventing you from experiencing happiness, joy, success, and ultimately, enlightenment.

5. Way of the Peaceful Warrior: A Book That Changes Lives, Dan Millman

This book is about a boy who goes to college with the hopes of becoming an Olympic athlete. He has everything going for him, but something is still missing. In effect, he is struggling with his mortality.

He meets a man named Socrates who challenges him and teaches him how to become a peaceful warrior – to live in the present moment. This book will make you question your beliefs about success and happiness.

More importantly, it will help you connect to the peaceful warrior inside of you, reminding you that everything in life is unfolding exactly as it should.

CHRISTIANITY

1. The Bible

Being a Christian is a huge part of my identity and my life. My relationship with God is the most important relationship that I have. It is the foundation for everything that I do and experience in life.

There is so much wisdom in the Bible. If you're a Christian, it's the ultimate source of authority that is worth prioritizing. I do a Bible study ritual a few days a week which helps me stay connected to my faith.

2. The Purpose Driven Life: What on Earth Am I Here For? Rick Warren

This book helps you identify your purpose in life and how you can start living with a sense of purpose. Once you know God's plan for you, you can start focusing your energy on what matters most for you.

3. The Case for Christ: A Journalist's Personal Investigation of the Evidence for Jesus, Lee Strobel

I originally watched the movie The Case for Christ, which poses a compelling case for the historicity of Jesus’ resurrection. If you want to go deeper with this topic, I recommend reading Lee Strobel's book.

Lee was a former Atheist whose wife decided to convert to Christianity. As a journalist, he was concerned so he sought to prove why God did not exist. Through his research, the evidence provided otherwise. Inevitably, this knowledge led him to convert to Christianity as well.

4. Jesus Calling: Enjoying Peace in His Presence, Sarah Young

This is a book that you read daily. Each chapter is a passage and a prayer that helps you connect to the words of God.

If you're a Christian and you have the desire to strengthen your faith, this book is a must-read.

These are 42 life changing books for mastering every area of your life.

Over the last 17 years, these are the best books that I've read. They have shaped my thinking and changed my interpretation of the meaning of life.

If personal growth is one of your goals right now, I highly recommend that you dive into one of these books that resonate most with your current stage of life. Happy reading!

Are you ready to build a business that gives you the freedom to design life on your terms? CLICK HERE to take my FREE quiz to find out which business model is best for you!

The post 42 Life-Changing Books For Mastering Every Area Of Your Life appeared first on Project Life Mastery.

Investing In Cryptocurrency For Beginners

Stefan James — Thu, 18 Nov 2021 16:00:21 +0000

This is your beginner's guide to investing in cryptocurrency.

In this blog, I break down how cryptocurrencies work. I share with you some of the best exchanges for buying, holding, and selling cryptocurrency.

I also talk about some of the most popular cryptocurrency coins that you can buy and invest in over the long term.

If you want my proven strategies for making money with cryptocurrency, keep reading!

Watch the video below:

(Click here to watch on YouTube)

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Investing in cryptocurrency can be risky.

Hence why you must have the right mindset before you start investing in it. Cryptocurrency is a new asset class, which means that there is a lot of volatility. It will go up and down.

There are a lot of people who have made a lot of money from the growth and appreciation of cryptocurrency. At the same time, there are also a lot of people who have lost a lot of money from investing in cryptocurrency.

At the moment, we are seeing a huge cryptocurrency boom. Some investors are speculating that Bitcoin could hit $100,000 per coin by the end of 2021. I think that's going to happen.

I've been investing in cryptocurrencies since 2017. I've made a lot of money from it. The more that I learn about crypto, the more that I love it, and the more that I want to hold more of it.

However, I want to mention that I am not a financial advisor. I am not here to give you investment advice. You have to do your research and be responsible for your own investment decisions.

Why I Love Cryptocurrency

I believe that cryptocurrency is the future. It's already a huge part of our lives. It reminds me of the introduction of the Internet in the '90s. At the time, there were a lot of people who were reluctant to embrace big Internet companies.

Nobody knew how to value these companies. Eventually, in 2000 the dot-com bubble burst. Since then, the Internet has changed how we live our lives. If I could go back to the early 2000s, I would invest in companies like Google, Microsoft, Apple, and Amazon. I'm sure that most people would agree with me.

A lot of people believe that cryptocurrency is the greatest invention since the advent of the Internet. Back in 2017, cryptocurrency went mainstream. However, it was followed by a crash. For a few years, nobody was talking about cryptocurrency until it exploded again in 2021.

Is Cryptocurrency The Future of Money?

Today, a lot of institutional investors are pouring money into cryptocurrency. Also, we've seen big companies, like Tesla, buy and hold billions of dollars worth of Bitcoin. We've also seen countries, like El Salvador, adopt Bitcoin as one of their national currencies.

Everyone is in agreement that cryptocurrency is here to stay. There is enough demand and interest for it that it won't go away. That being said, there is still uncertainty in terms of how crypto is regulated in certain countries.

I believe that everybody should have some exposure to cryptocurrency. In fact, I don't see any logical argument why you wouldn't. Keep in mind that there have been a lot of people who have been skeptical of innovations since the beginning of history.

Guess what? A lot of them were proven wrong. I'm not saying that you should invest all of your money into cryptocurrency. Rather, I'm saying holding some crypto has its place in every diversified investment portfolio.

At this stage, nobody can deny that cryptocurrency is not a valuable asset class. It has trillions of dollars invested into it and has outperformed every other asset class in existence.

Why Your Investing Mindset Matters

If you get too emotionally invested in the volatility of the market, you'll panic and make bad investment decisions. You must understand that cryptocurrency goes through seasons. You only lose money if you decide to sell. This goes for any investment that you make.

However, when you adopt a long-term mindset to investing in cryptocurrency you won't be phased by the fluctuations. When there's a dip in the market, you'll get excited. This is a great opportunity to buy more at a cheaper price.

Warren Buffett once said that it is smart for investors to be “fearful when others are greedy, and greedy when others are fearful.”

A common acronym in the crypto investing world is known as “HODL”, which stands for Hold On For Dear Life. This means that you should buy and hold some cryptocurrency for at least one year or more.

I plan on holding cryptocurrency for 5, 10, or even 20 years. I'm not concerned with what is happening in the short term and neither should you.

Also, it's important to only invest what you can afford to lose. The volatility of the market means crypto could crash one day. If you only invest what you can afford to lose you won't suffer a life-changing loss. The same is true with any investment.

I believe in diversification instead of investing all of your money into one asset class. The amount of money that you decide to invest in cryptocurrency will be based on your threshold for risk.

How To Get Started Investing In Cryptocurrency

The most popular cryptocurrency is Bitcoin. It has over 1 trillion dollars of market cap. Etherium is the second most valuable cryptocurrency. If you're a beginner, these are the two coins that you want to start investing in and holding, long-term.

To get started buying Bitcoin and Ehterium you need an exchange. This is similar to an online bank account. It allows you to transfer your money, based on your currency, from your bank account to your cryptocurrency of choice.

There are many exchanges available. However, one of the most popular ones for beginners is Coinbase. Because Coinbase is a publically traded company, it is more regulated, which makes it safer.

Coinbase has a promotion happening right now where they will give you $12 in free Bitcoin when you buy or sell $125 or more in cryptocurrency. Take advantage of it!

Some other exchanges that I like are Nexo, Binance, Kraken, KuCoin, and Crypto.com. For security purposes, I don't like to hold all of my cryptocurrency in one exchange.

A great measure for protecting your cryptocurrency involves using two-factor authentication. You also want to make sure that you've got a great password that has numbers and characters in it that nobody can guess. If you take the necessary precautions you never have to worry about someone stealing your cryptocurrency.

When Is The Best Time To Invest In Cryptocurrency?

You don't want to wait too long to invest in cryptocurrency because you may miss out on all the growth that you could have. We don't know when cryptocurrency will crash, if at all! However, at the same time, you don't want to put all of your money into cryptocurrency today. The solution to this is called dollar-cost averaging.

Instead of investing in a particular asset one time, with dollar-cost averaging you divide up the amount of money you’d like to invest and buy small quantities of the asset over time at regular intervals. This is what I've done with my cryptocurrency. As a result, I've been able to make a lot of money.

When Is The Best Time To Sell Cryptocurrency?

A lot of people wait and hold their cryptocurrency until it becomes worth a lot more than what they originally invested in. In effect, they sell what their original investment was. If they lose that money, it's not a big concern because they already got their investment out.

This is how to invest in cryptocurrency for beginners.

There's a lot to learn about the world of cryptocurrency. I encourage you to do your research so that you understand how it works and how you can invest in it.

I hope you're able to benefit from my experience and what I've learned in the cryptocurrency space. The benefits and potential returns that you can receive from investing in cryptocurrency far outweigh the risk.

Here's to your investing success!

Do you want to know how I'm making passive income every day with Crypto Bots? CLICK HERE to learn my secrets!

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The “Money Mindset” Of A Millionaire (MOTIVATION)

Stefan James — Thu, 11 Nov 2021 16:00:16 +0000

Are you ready to master your money mindset and take back control of your finances?

Let's face it, no one likes being in debt. However, it is a reality for many. Student loans, mortgages, and credit cards all serve to set you back financially.

If you want to get out of debt, you have to change your money mindset. Your success is determined, in large part, by your ability to effectively manage your money.

The key to getting ahead financially is getting started. If you're ready to change your financial situation, keep reading!

Watch the video below:

(Click here to watch on YouTube)

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Financial stress can impact your mental health.

According to Forbes, individuals with high financial stress are twice as likely to report poor health overall and are four times more likely to complain of ailments. Despite this reality, people still fall into the trap of overspending on things that they don't need.

In short, they have bad spending habits. As a result, they end up falling into debt. It can be very challenging to get out of debt due to high-interest payments, which is why you want to avoid debt at all costs.

Credit cards and other unsecured loan debt tend to have interest rates higher. The average personal loan interest rate is 9.63%, while the average credit card has a 14.52% interest rate.

Money management has been the key to my success in life. However, I didn't always have good money habits. When I was in my early 20s, I was in a lot of debt. In fact, I racked up $15,000 in credit card debt.

I was living above my means and I had no idea where my money was going every month. It wasn't until I got real with myself and stopped avoiding the reality of my situation that I was able to take back control of my finances.

You can't be blind to your finances. Rather, you have to be hyperaware of your income and expenses. Track everything that you spend. Create a monthly budget and start reducing or eliminating any expenses that may cause you to overspend.

It's not the amount of money that you budget that matters.

Rather, it's the habit of budgeting that makes all the difference. There is no point in making more money if you cannot manage the money that you already have. By building the habit of money management now, you will be able to manage higher amounts of money in your future.

When it comes to budgeting, you can expect to have to make some sacrifices. I had to give up a lot of things that brought enjoyment to my life to get out of debt. I'm not going to say that it was easy, but the payoff was well worth it. I swapped short-term gratification for long-term wealth.

When I started my online business my first goal was to make $1 online. John Hayes was the first Internet marketer to make $1 million online in one day. He believed if you can make $1 online, you are 95% away from making $100,000 online.

The moment that you make $1, you get instant validation that whatever you're doing is working. This is what gives you the confidence to keep going and find ways to scale up. This is exactly what I did in my online business.

I've gone from being broke to becoming a multi-millionaire.

Another great way to get ahead financially is to invest in yourself. You never lose by investing in your future self. In the words of Warren Buffett, “The more you learn, the more you will earn.” Attend seminars and events, read books, or find a mentor.

When you invest in your personal growth and development you learn skills that increase your value and potential to make more money. Over the years I have invested hundreds of thousands of dollars into myself. As a result, I've been able to build a 7-figure business doing what I love.

This is the money mindset of a millionaire.

No matter how bad your financial situation is right now, you have the power to take back control of your finances. When you change the relationship that you have with money, you start attracting more wealth into your life.

Financial success doesn't happen overnight. However, if you're committed to reaching your financial goals, there is no limit to what you can achieve. Are you ready to master your money mindset and build long-term wealth?

Are you ready to build a million-dollar online business? CLICK HERE to take my FREE quiz to discover which online business model is best for you!

The post The “Money Mindset” Of A Millionaire (MOTIVATION) appeared first on Project Life Mastery.

How I’m Investing In Blockchain (NFT & Crypto Infrastructure)

Stefan James — Tue, 26 Oct 2021 15:00:38 +0000

Do you have a desire to learn more about blockchain technology?

For those of you who don't know, blockchain is the underlying technology of cryptocurrency and NFTs.

In this blog, I talk about how I'm investing in the infrastructure of crypto, NFTs, and blockchain.

Please keep in mind that I am not suggesting that you should invest in these companies. I merely want to share what I'm investing in. If it benefits you, fantastic.

On that note, let's dive into the world of blockchain technology!

Watch the video below:

(Click here to watch on YouTube)

[smart_track_player url=”https://stream.redcircle.com/episodes/1123da51-5f94-4263-b30b-80edb0c40e00/stream.mp3″ background=”default” ]

Are you ready to start managing your money so you have more to invest? CLICK HERE to get instant access to my FREE financial tracking video and spreadsheet!

I've made A LOT of money from cryptocurrency.

I buy and hold Bitcoin, Ethereum, and a variety of altcoins, long-term. I like cryptocurrency as an asset class, especially during this time of inflation. A lot of people are saying that Bitcoin and Ethereum are digital gold and silver. Moreover, it's the one asset class that has out-performed the S&P 500 and any other investment over the last ten years.

Currently, there are trillions of dollars invested in crypto. Whenever you can invest in the infrastructure of something, in this case, crypto, you know you're sitting on a great opportunity. Whenever I've benefitted from the growth of crypto, I've also looked at how I can get exposure to the infrastructure of crypto, like non-fungible tokens (NFTs).

Trying to explain what NFTs are can be confusing. I highly recommend that you watch this funny SNL skit where they attempt to explain them. I believe that NFTs will be a huge part of our future which is why I'm starting to invest my money in blockchain technology.

NFTs will allow you to authenticate and own the rights to a lot of digital and physical assets. Here are two ways that I've been getting exposure to the infrastructure of crypto, NFTs, and blockchain.

1. Coinbase Global Inc (COIN)

When Coinbase went public on the U.S. market I invested in it. Coinbase is the biggest exchange for buying, trading, and selling crypto.

When a company does an IPO and they go public it's usually overvalued at a much higher value than what they are worth. When this happens, I buy and hold a position in it. Coinbase has dropped down recently. I saw this as an opportunity to buy more stocks.

2. Immutable Holdings Inc. (HOLD.NE)

I learned about this Canadian company from Kevin O'Leary who is a well-known investor and a personality in the financial space. I've always liked to listen to what he has to say. He's a smart investor. If you watch Shark Tank you probably know him.

I came across a YouTube video where Kevin interviews the CEO of Immutable Holdings, Inc., Jordan Fried. Immutable Holdings, Inc. just went public in Canada on the NEO exchange. They invest in the infrastructure of crypto and NFTs. It owns NFT.com.

That's a really valuable asset. Essentially, this company is going to be building a platform where everybody buys and sells NFTs. In the video, there were a few things that Kevin O'Leary shared that resonated with me, which inevitably led me to invest in this company.

Watch the video above where I share my brokerage account and show you how much money I've made with these investments!

As I expressed above, Immutable Holdings, Inc. is currently only available on the NEO exchange in Canada. Most brokerage accounts, depending on where you live, allow you to get permission to buy on other exchanges. If you live in the U.S., you can buy in the Canadian exchanges.

There can be a hoop to jump through to buy an investment like this one. Thus far, I've invested $10,000 Canadian into this company. My total returns in the last few days have been 129%. Thus, I've made $13,000 so far.

This money is unrealized, meaning that I don't make it until I sell. However, I don't plan on selling. Rather, I plan to hold, long-term. I see this as a great long-term investment for me.

This is how I'm investing in some of the infrastructures of blockchain, crypto, and NFTs.

I believe that blockchain technology is the future. Nevertheless, when it comes to investing, you must do your research, understand your tolerance for risk and make investment decisions that best serve you. On that note, happy investing!

Are you ready to start managing your money so you have more to invest? CLICK HERE to get instant access to my FREE financial tracking video and spreadsheet!

The post How I’m Investing In Blockchain (NFT & Crypto Infrastructure) appeared first on Project Life Mastery.

Beginner Stock Investing Portfolio (Best Stocks For Beginners)

Stefan James — Thu, 21 Oct 2021 15:00:14 +0000

Do you want to build a stock investing portfolio, but don't know how to start?

I've built a multi-million dollar investment portfolio. In this blog, I break down the best investments and stocks that I invest in.

Furthermore, I share exactly what I would invest in if I was starting my investment journey over again.

At the end of the day, you have to decide where you are going to invest your money.

However, I am confident what I'm going to share with you will yield you great returns for many decades.

If you're ready to invest your way towards financial freedom, read this!

Watch the video below:

(Click here to watch on YouTube)

[smart_track_player url=”https://stream.redcircle.com/episodes/bf9a5d95-e28b-401a-9478-ef004e059793/stream.mp3″ background=”default” ]

Are you ready to start managing your money so you have more to invest? CLICK HERE to get instant access to my FREE financial tracking video and spreadsheet!

This is the stock investing portfolio that I would start with.

It's fairly conservative, but it does have a certain level of risk. This portfolio is primarily made up of index funds, individual stocks, and companies.

Before I dive into this blog, you must know that I'm not a financial advisor. I am not here to give you investment advice. Whatever I buy or trade is based on my opinion and experience as an investor. You have to do your research and due diligence and understand the risks involved when it comes to investing in the stock market.

I'm sharing a long-term investment portfolio with you. Why? Well, the stock market is volatile. During the pandemic, there was a big stock market crash. Those who panicked and sold their stocks lost a lot of money. Conversely, those who waited it out recovered. Typically, there is a correction every year in the market.

This is when the market drops up to 10%. If you're a long-term investor, you won't be worried because you will know that things will recover. You may even be excited because it's an opportunity for you to buy more of the positions that you have at a cheaper price.

I understand that each of you is in a different financial position.

The earlier that you start investing, the more money you will make, long-term. If you're older, you may not be able to afford to take on as much risk. Where you are, age-wise and financially, will help you determine where to invest your money.

Watch the video above where I share my computer screen and walk you through the best stocks for beginners!

Index Funds

Vanguard S&P 500 ETF (VOO)

This is a stock that tracks the S&P 500, which is the top 500 companies in the U.S. This stock trades on the U.S. stock exchange in U.S. currency. The U.S. is the world's largest economy. It yields the greatest returns of any country or economy, and it consists of the biggest companies in the world.

The greatest investor of all time, Warren Buffett, has said that investing in the S&P 500 index is the best investment that a beginner investor can make. When he passes away, he plans to invest 90% of his fortune into the S&P 500 index.

The S&P 500 gives you diversification across all of the biggest large-cap companies in the U.S. Historically, the S&P 500 returns about 10% per year. That's a great return. It does pay a dividend as well.

Currently, this stock is trading at $409. The net assets are 753 billion dollars, with a dividend yield of 1.34% and an expense ratio of 0.03%.

This is a great investment to get started with. It's a staple of my portfolio. I am always adding more to it whenever there is a correction or a crash.

Vanguard Total World Stock Index Fund (VT)

This index fund gives you exposure to the U.S. and the biggest companies in the world, like China, Europe, South America, and Taiwan. The one downside of the S&P 500 index ETF is that it's more weighted in the U.S. economy.

The U.S. economy will give you the greatest returns of any other economy in the world, but it's also smart to be diversified outside of the U.S.

Currently, this stock is trading at $105. The net assets are 30 billion dollars, with a dividend yield of 1.65% and an expense ratio of 0.08%.

Vanguard Real Estate Index Fund (VNQ)

If you want dividends, the first place that I would look is in real estate. This index fund invests in real estate investment trusts (REITs). These are companies that hold real estate. I think we can all agree that real estate is a great long-term investment.

Real estate performs differently from a stock market. Currently, this stock is trading at $106. The net asset is 77 billion dollars, with a dividend yield of 2.34% and an expense ratio of .12%.

When it comes to dividends, you've got to weigh growth over income. When you have more time on your side, you want growth.

Usually, companies that are paying out high dividends are paying out a lot of their profits. However, they aren't reinvesting that money to grow the company. This index fund holds a lot of REITs that pay high dividends, but are also growing as real estate grows.

Vanguard High Dividend Yield Index Fund (VYM)

This index fund is holding a lot of dividend-paying stocks and stocks that are growing. In fact, a lot of the companies that are in this index fund are dividend aristocrats. These are large-cap companies on the S&P 500.

Currently, this stock is trading at $107. The net asset is 48 billion dollars, with a dividend yield of 2.79% and an expense ratio of 0.06%.

Individual Companies

At this point in your investment portfolio, you may decide that you want to add some individual companies to your portfolio. You have to understand that there is a higher risk associated with doing this. You're not just buying a sector.

Rather, you're choosing individual companies out of some of the companies in these indexes. If something happens to a company, you are at risk to lose money. At the same time, you can get greater growth than 10% per year.

When it comes to investing in individual companies, I would recommend investing in large-cap or mega large-cap companies. These are the biggest companies in the world.

If you want growth, invest in tech companies.

Some of my favorite diversified tech companies that I've made the most money from are the following:

Yes, these companies are overvalued and overpriced, but there is so much upside to them. You've got to do your research to determine which tech company you want to invest in and hold long-term. However, I don't think you can go wrong with any of them.

If you don't feel comfortable with the risk of investing in individual companies you can look for indexes that invest in that sector. For example, one of them would be Vanguard Information Technology Index Fund (VGT).

You could also consider adding more dividends to your portfolio. Dividends are great if you want income. My favorite way to get dividends is in the financial sector.

I like bank stocks.

I'm very familiar with the Canadian banking system since I used to live in Canada. We have some awesome Canadian banks. They all pay incredible dividends, some of them up to 5%. If you live in the U.S., you can buy these companies on the New York Stock Exchange:

Alternatively, if you would prefer to stick to the U.S., there are some great banks in the U.S. like Bank of America Corporation (BAC) or JPMorgan Chase & Co. (JPM).

If you want to take greater risks, decide on a certain percentage of your portfolio that you're going to allocate to that.

I think that a good allocation would be 50-75% in index funds, 25-50% in individual companies, and 20% in higher-risk investments.

For the average person, index funds are the way to go. Set it, forget it, and hold it over the long term.

However, as an investor, it's also important to continue adding to your portfolio over the long term. Decide on a certain amount of your money that you're prepared to invest to get started and have some positions.

These are the BEST stocks for beginners.

If you're ready to start investing, you'll want to open a stock brokerage account, like WeBull. This will allow you to buy and sell different types of investments.

Lastly, if you're going to be an investor, you must learn how to manage your existing money.

Doing so will ensure that you have disposable income available to build your investment portfolio. This is how you'll be able to grow your portfolio over the long term.

Investing in your future is one of the best investments that you'll ever make. The earlier that you start investing, the sooner you will be able to create financial freedom. On that note, happy investing!

Are you ready to start managing your money so you have more to invest? CLICK HERE to get instant access to my FREE financial tracking video and spreadsheet!

The post Beginner Stock Investing Portfolio (Best Stocks For Beginners) appeared first on Project Life Mastery.

How To Manage Your Money For Financial Freedom

Stefan James — Tue, 05 Oct 2021 17:00:16 +0000

Are you ready to achieve financial freedom?

Financial freedom is all about taking control of your finances. I believe that anyone can transform their financial situation.

However, if you don't have a healthy relationship with money, you'll continue to encounter money issues.

In this blog, I share a simple method for managing your money for financial freedom.

If you are tired of living paycheck to paycheck, you'll want to read this.

Watch the video below:

(Click here to watch on YouTube)

Do you want a copy of my FREE money management spreadsheet for creating financial freedom? CLICK HERE to download it!

You can't earn your way to financial freedom.

A lot of people can earn a lot of money, but they don't know how to hold on to it. As a result, they fall into debt. I can relate to this. There was a time in my life where I was in a lot of debt. I didn't have a system or a method for managing my money.

I had money coming in, but I was freely spending it and not paying attention to where it was going. When I received my credit card statements every month I realized that I was spending more than I could afford. Even worse, I continued this behavior and kept digging myself into a financial hole.

It wasn't until I learned how to manage my money that I finally felt in control of my finances. I'm going to share a money management system with you that I used to get myself out of debt and achieve financial freedom. You can apply this system easily to your financial situation.

The habit of doing this exercise is more important than the amount of money that you have in the bank. If you can't manage the money that you have right now, you will not be able to handle larger sums of money.

Watch the video above where I share my computer screen and walk you through the money management spreadsheet that helped me achieve financial freedom!

Money Management Method – The JARS System

I learned a simple, yet powerful money management method from T. Harv Eker. In his book, Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth he teaches you how to manage your money for financial freedom. He suggests that you break down the money that you make and your expenses into six jars or categories.

Category #1 – Necessities (55% of your income)

These are things like your rent, mortgage, utilities, groceries, gym membership, car payments, phone bills, etc. You want to make sure that 55% of your income is going towards the things you need every day to live your life.

Category #2 – Fun (10% of your income)

It's important to focus on your goals, but you also want to make sure that you're enjoying your life. This is your play money for activities that you enjoy, like dining out, traveling, or pampering yourself.

If you're enjoying the benefits of your money, you will link pleasure to the process of having money. In short, having fun will motivate you to make more money.

Category #3 – Education (10% of your income)

A lot of people settle for whatever amount of money that they make. They don't aspire to achieve more. Saving money can be hard, but when you take the time to learn about money and invest in yourself, the process can be enjoyable.

I believe in the power of education. Investing in myself has been one of the most important things that I’ve done that have contributed to my success in life. In the words of billionaire investor Warren Buffett, “Ultimately, there’s one investment that supersedes all others: Invest in yourself.”

One of the best ways to improve your finances is to learn from others who have achieved the success that you desire. You can invest in their knowledge and learn directly from them. This knowledge can be consumed in the form of books, seminars, mentors, and coaches.

Category #4 – Long-Term Savings (10% of your income)

This is your “emergency fund” money that you don't touch. You never want to be in a position where a crisis hits and you have zero savings.

Ideally, you want to make sure that you have 3-6 months' worth of your expenses put aside in a savings account for emergencies. Also, you want to allocate a certain percentage of your income to a future goal that you want to achieve, like buying a home.

Category #5 – Financial Freedom (10% of your income)

This involves taking a percentage of your money and investing it into assets that can appreciate over time. This could be investing in cryptocurrency, building an online business, developing an app, or building a YouTube channel or blog.

There are so many investment opportunities available to you. However, if you don't put aside money for your freedom, money won't magically fall into your life. If you have to cut back on your necessities to put money aside for your freedom, do it. Otherwise, there is no possibility of achieving financial freedom.

Category #6 – Contribution (5% of your income)

This could involve giving a portion of your earnings to a charity or giving money to the homeless. Not only is contribution great for others, but it's also important for you. Authentic fulfillment comes from contributing to others.

It trains your brain to operate from a place of abundance rather than scarcity and fear. When you have your hands open to receive, more good things will flow into your life. However, if you're worried to give anything away, you cannot receive more.

Wherever you are starting from is OK.

We all start somewhere. However, you will never get to where you want to go if you don't know where you are. You want to create your personalized money management system based on your current financial situation.

As an example, if you go through this spreadsheet exercise and realize that 90% of your income is going towards your necessities, that means that you've got no money left for the other categories that I shared above. If this is the case, you've got to get creative and figure out how you can lower your necessities.

It comes down to determining which of the categories you can't afford to do right now, in the pursuit of achieving financial freedom. At the beginning of my entrepreneurial journey, I was willing to sacrifice fun because freedom was more important to me.

In my opinion, staying consistent with your education is critical. If you don't grow, you'll stay stuck. Your income is in proportion to your level of personal development. The more that you develop yourself, the more money that you'll make.

This is how to manage your money for financial freedom.

I hope that this money management system proves to be as life-changing for you as it was for me. Listen, I know what it's like to struggle financially.

However, your past financial mistakes do not have to define your future. Take ownership of your mistakes, learn from them and focus on creating the financial freedom that you desire and deserve.

Do you want a copy of my FREE money management spreadsheet for creating financial freedom? CLICK HERE to download it!

The post How To Manage Your Money For Financial Freedom appeared first on Project Life Mastery.

5 Money Mistakes I Wish I Didn’t Make In My 20’s

Stefan James — Wed, 25 Aug 2021 15:00:14 +0000

I don't want you to make the same money mistakes that I made.

Most people have made at least one poor financial decision at some point in their lives.

There are 5 things that I wish I had done differently in my 20s in terms of how I spent my money.

While you can't dwell on the past, you can always learn from it and make better financial decisions from this day forward.

Keep reading to discover the 5 money mistakes that you should avoid at all costs!

Watch the video below:

(Click here to watch on YouTube)

[smart_track_player url=”https://stream.redcircle.com/episodes/4fc553d6-b2d7-4f5c-a083-0754233684e5/stream.mp3″ background=”default” ]

Are you ready to take control of your financial future? CLICK HERE to take my FREE 60-second online business quiz to find out which business is best for you!

I have learned A LOT from my money mistakes.

I've had a lot of successes and failures along my entrepreneurial journey. Not surprisingly, I've learned a lot more from my failures than I have from my successes. Failure is a powerful teacher. It forces you to look back and ask, “Why didn't that work, and what can I do differently to prevent the same mistake from happening?”

I hope that my mistakes will serve as a warning to you of what NOT to do so that you are better positioned for success and financial freedom. On that note, let's dive into 5 mistakes that I wish I didn't make in my 20s.

1. Getting In Credit Card Debt

This is a common mistake that a lot of people make. Credit card debt is the worst. The interest rates that credit card companies charge are criminal. It can be so hard to get yourself out of debt once you've dug yourself into a financial hole.

In my early 20s, I wasn't responsible with my money. I had money coming in, but I didn't track it. Let's just say that I was spending more money than I was making. When you know you're getting into debt, you are more likely to avoid facing your financial woes.

It wasn't until I confronted my debt that I realized how bad it was. I decided to take ownership of my money issues and created a plan on how to get out of debt. I found a credit card company that accepted a balance transfer.

They gave me an incentive that was too good not to pass up. If I transferred my balance from one credit card to another, they would give me one year of zero percent interest. That saved me the 19% that I would have otherwise had to pay.

I gave myself 12 months to be as resourceful as I possibly could. This meant making a lot of sacrifices. I got rid of my car and my apartment and slept on my friend's couch.

Keep in mind that there is good debt and bad debt. An example of good debt is using other people's money and investing it into an asset, like real estate. Recently, I invested in a property. I got a mortgage for it. Interest rates are so low right now (1.14%, with a 5-year variable).

I'm borrowing a large sum of money at a low rate.

This property will appreciate more than my 1% interest rate. By not having all of my money tied up in a real estate property, I can borrow money at a low rate.

In turn, I can invest in stocks that give me a 10% return. Knowing how to use leverage intelligently can help you accelerate your wealth.

When I look back on this time of my life, I'm grateful that I got into debt early on and not into my 30s, 40s, and 50s. I learned valuable financial lessons. Since then, I vowed to NEVER find myself in a similar dire financial situation.

2. Spending Money On Things That Don't Add Value Long-Term

If I hadn't spent so much money on materialistic possessions in my 20s, I would be much farther ahead financially. Back in the day, I was living paycheck to paycheck. A lot of the things that I was indulging in were similar to empty calories.

I look back upon the money that I wasted and I can't even remember those experiences. Sure, those experiences gave me pleasure, but they didn't add value to my life, long-term. I believe that delayed gratification — putting off what we want now to get something bigger and better later on — is the key to financial success.

Instead of spending the money that you have, I encourage you to save or invest it into a stock or ETF. Moreover, invest in yourself! Travel, attend seminars, read books, take courses, or hire coaches/mentors. These types of things will set you up to win in the future.

I'm not saying that you can't have any fun in your life. It's all about creating balance.

3. Not Educating Myself About Money & Investing

Money is an important part of life. If you neglect to learn about money or create a disempowering belief about it, you'll pay a price. In my early 20's, I didn't care about money. I made money and spent it.

My parents weren't good with money. They went through bankruptcy when I was younger. We had to sell the house that my dad built. I associated a lot of pain with money. In turn, I had a lot of “poor” beliefs. This experience forced me to start educating myself about how money works.

I started learning how to generate money and how to add value to others. Money is just the by-product of the value that you add, whether that's to your employer or your customers. By improving my money skills, I was able to generate massive amounts of wealth.

4. Not Investing Enough Into Myself & Future

When I was 18 years old, I read a book called The Wealthy Barber. It taught me about mutual funds and how compounding works. At the time, I invested $500 into a Bank of Montreal mutual fund. That investment paid off.

However, I didn't invest enough. When I look at my investment portfolio, I know that I would be in a much greater position today had I saved and invested more in my 20s.

Also, I didn't invest enough in my personal growth. I'm grateful for the inner work that I did. However, if I had said “yes” more and not allowed fear to dictate my decisions, I would have achieved more. I have many examples, but one missed opportunity comes to my mind.

In my 20s I attended a business seminar in Las Vegas. I met a guy at the event who was one of the top players in my industry. He invited me to attend a business mastermind that he was hosting in L.A., but I decided to say no.

To this day, I regret my decision. My scarcity mentality prevented me from taking advantage of an opportunity that would have accelerated my business growth.

5. Making Risky Investments & Trying To “Get Rich Quick”

In my 20s I was focused on chasing money. When I first got into Internet marketing, I pursued a lot of “get rich quick” opportunities. Unfortunately, these “grey hat” opportunities cost me, long-term. They were borderline unethical.

From these experiences, I learned that the better approach is to get rich slower by making smart decisions over a long period. This is how you create lasting wealth and financial freedom. You cannot shortcut the hard work and patience that is required to achieve success.

These are 5 money mistakes I wish I didn't make in my 20's.

Money is an important part of life. It can buy your time and freedom, which is why it's important to avoid these 5 money mistakes. If you apply the lessons that I learned your future self will thank you for it.

Are you ready to take control of your financial future? CLICK HERE to take my FREE 60-second online business quiz to find out which business is best for you!

The post 5 Money Mistakes I Wish I Didn’t Make In My 20’s appeared first on Project Life Mastery.

If I Could Only Buy 1 Stock, This Would Be It

Stefan James — Tue, 29 Jun 2021 15:00:49 +0000

If I could only buy 1 stock, this would be it.

Before I tell you what my choice would be, did you know that there are roughly 3,600 stocks listed on U.S. exchanges?

Thus, choosing just 1 stock is not an easy decision to make. As a result, I'm going to give you two different responses.

Keep in mind that I am not an investment expert or a financial advisor. I merely want to share with you my investing knowledge and experience.

With that being said, keep reading to find out the 1 stock that I would buy!

Watch the video below:

(Click Here To Watch On YouTube)

[smart_track_player url=”https://stream.redcircle.com/episodes/0929e9f8-3685-45cd-9e70-e089c5cb3622/stream.mp3″ background=”default” ]

Are you ready to start trading stocks? CLICK HERE to get 2 FREE stocks (valued up to $1,600) on WeBull when you deposit $100!

The best time to buy stocks is right now.

If you are ready to start investing in the stock market but you don't know the best stock to invest in, you've come to the right place. I've been investing in stocks for over a decade now.

I've learned A LOT along my investment journey. Today, I have a multi-million dollar investment portfolio. Whether you're a beginner or a seasoned investor, the information that I am going to share with you today will set you up for financial success. Let's dive in!

The ETF I'd Invest In

I think that investing in ETFs is the best investment that you can make, long-term. It's in alignment with my long-term investment philosophy. The best ETF stock that I would buy would be the Vanguard S&P 500 ETF (VOO).

This is an index fund that holds the top 500 companies in the United States. Vanguard is great because they have the lowest fees, compared to other ETFs. Historically, the S&p 500 has returned 9-10% every year.

The billionaire investor Warren Buffett suggests that the average investor should invest their money into the S&P 500 index fund.

He even instructed the trustee who will be in charge of his estate to invest 90% of his money into these assets for his wife when he dies. Warren Buffett plans on investing the remaining 10% in short-term government bonds. Even he knows the market will outperform any investor long-term!

Individual Stock Examples

Picking one individual stock is more tricky because there are so many great companies. There is a lot of speculation involved with individual stock picking. You don't know how individual stocks are going to perform, 10-50 years from now.

A lot of the tech companies that I like are relatively new. It's always risky to invest in a company long-term that doesn't have a lot of history. Nevertheless, here are a few of my favorites.

1. Amazon

Amazon dominates the online retail market. However, they also have Amazon Web Services, which is a huge contributor to their revenue. No company is quite like Amazon, which keeps its competition low.

Warren Buffett suggests that you invest in businesses that have a wide economic moat around them. A big moat that Amazon has is its Prime feature. When customers sign up for Amazon Prime, they get access to Amazon Prime Videos.

This means that Amazon is now competing with Netflix, HBO, and Disney. As part of a Prime membership, customers also get access to the Amazon Prime Music streaming service.

A company that can get into video streaming, music, and podcasts has a huge advantage that other companies can't compete with. Eventually, I think that Amazon isn't going to need shipping companies like FedEx and UPS. They can build their own delivery system.

On top of all of this, the global expansion of Amazon is insurmountable to any other company in the world. Even though big companies like Walmart have an online platform, they are only in the U.S.

I think that Amazon will continue to grow, long-term, in many different sectors.

Some people would argue that there is a risk involved with investing in Amazon because Jeff Bezos has stepped down as CEO. However, the Founders of Apple and Microsoft stepped down as well. When Steve Jobs stepped down from Apple and Tim Cook took over, they went on to become a trillion-dollar company. The same thing happened with Microsoft when Bill Gates stepped down.

2. Tesla

Elon Musk is an incredible entrepreneur and innovator. I love that he is willing to take risks and get into different markets. His ideas are very progressive. I think Tesla has an amazing brand and a cool factor, similar to Apple.

Tesla is the leading EV manufacturer in the world. They have the best technology and their business is diversified. However, competition is coming.

For example, I was at a Jaguar dealership the other day. The CEO of Jaguar said that by 2025, they will switch everything to EV. It's only a matter of time before other automakers catch up. Thus, Tesla will have to continue to find ways to diversify.

The reason why Tesla is over-valued is that investors factor in the growth of the company years in advance. For example, the one challenge that Tesla has is its delivery service.

In fact, recently I was looking to buy the Tesla Model X in Vancouver. However, they don't have any in their inventory. They don't even have demo cars! If I want to order one, I have to wait until January or February to get it.

I'm looking at other vehicles now because I don't want to wait that long. Investors factor this in, which is why Tesla is priced the way it is right now. Once they get that sorted and keep up with the demand, their revenue will explode.

3. Apple

Apple has an amazing balance sheet. During last year's holiday quarter, Apple reported all-time record revenue of $111 billion. These numbers prove that, as a company, they are well-positioned for growth and scale.

Warren Buffett has been quoted as saying that “Apple is probably the best business I know in the world.” However, Apple does have competition like Samsung and Android.

This is why I love Amazon over Apple — because it isn't as vulnerable to competition.

4. Shopify

As someone who has an eCommerce business, I can say without a doubt that there isn't anyone close to competing with Shopify. If you are an eCommerce seller, Shopify is the best path that you can take.

However, Shopify isn't as diversified yet. I would have to wait to see if it diversified before I invested in, long-term. A company has to be able to pivot as changes occur in the market.

They have to have a Parthenon that has multiple pillars or parts of their business. When a Parthenon structure is in place, even if challenges arise and one pillar gets removed, the foundation of the business will remain strong.

If I could only buy 1 stock it would be the Vanguard S&P 500 ETF.

Choosing which stock to invest in can feel overwhelming, especially given the fact that there are so many options. That being said, I would go with a low-cost index fund and diversify your portfolio over time.

If you are ready to start investing, I encourage you to open up a brokerage account. Doing so will allow you to freely buy and sell stocks. Decide what your investment goals are, determine your level of risk, and just get started!

Are you ready to start trading stocks? CLICK HERE to get 2 FREE stocks (valued up to $1,600) on WeBull when you deposit $100!

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5 Things I Wish I Knew Before Investing In Stocks

Stefan James — Thu, 10 Jun 2021 15:05:14 +0000

This is what I wish I knew before investing in stocks.

I've been investing in stocks for 10 years. Several years before that I was investing in mutual funds.

I've had a successful investment journey and I've made a lot of money from the stock market.

However, I've also learned some painful lessons and lost money.

As a result, I've become a more experienced investor. I want to share these investing lessons with you so that you don't make the same mistakes that I made.

Keep reading to find out the 5 things I would have told my younger self about investing!

Watch the video below:

(Click here to watch on YouTube)

[smart_track_player url=”https://stream.redcircle.com/episodes/fc60988f-6694-4a35-b43e-55caa61667b8/stream.mp3″ background=”default” ]

Are you ready to start trading stocks? CLICK HERE to get 2 FREE stocks (valued up to $1,600) on WeBull when you deposit $100!

Investing is a smart way to grow your money.

You want to make your money work for you. However, sometimes it can be hard to know whether or not you've made the right investment move. Everyone has a different investing strategy.

How you decide to invest your money will depend upon your financial situation and your level of risk tolerance. Nevertheless, the lessons that I'm going to share with you will be invaluable as you move along your investment journey.

I hope my experiences help you become a more experienced investor so that you can achieve investment success. Here are the 5 things that I wish I knew before I started investing in stocks. Let's dive in!

1. Do your research

One of the cardinal rules of investing is to always invest in what you know. Ten years ago I started generating a lot of cash flow in my business. I had a lot of money sitting around that wasn't making me money. Thus, I felt pressure to do something with it.

I didn't want to spend much time investing because my business was consuming a lot of my time. Instead, I decided to sign up for a newsletter which I paid for every month.

In this newsletter, experienced investors told me what to buy and what opportunities they saw in the market. Because I didn't think that I had time to do my research, I blindly trusted these investors. That was a mistake.

I still made money overall, but there were better investments that I could have made. In short, I didn't know when to sell my investments because I didn't have an investing strategy.

If I could it all over again, I would have invested most of my money in index funds, primarily large-cap companies. When you invest in index funds, you can invest in one stock that owns many different companies.

Thus, you get diversification from that. More importantly, you can be a passive investor. Index funds are the only investment that I can confidently say I will hold forever. They are based on a sector of the economy, which is something that always goes up, long-term.

2. Take the emotion out of investing

In the short term, the market is shaped by human emotion. Emotion-driven investing is a recipe for disaster. When people are fearful, they end up making poor investment decisions.

Ideally, I try to avoid having any emotion associated with my investments in the short term. I now know that the market will go up and down.

Take it from Benjamin Graham, who is the author of the book The Intelligent Investor. He says, “In the short run, a market is a voting machine but in the long run, it is a weighing machine.”

People buy and sell based on what is popular and what is not. In the short term, a lot of companies may be inflated in value because it's a hot stock that everyone is talking about. However, long term, patience is key.

That's when the value of a company matters most. This is why I am a long-term investor. Check-in with yourself – do you freak out when you see that your stocks have dropped a certain percent, to the point that you want to sell?

Similarly, do you get overly ecstatic when your stocks go up? Be wary when you respond in these ways. Focus on the long-term. As long as the trend is going up, you're good.

3. Be Patient

Patience is a challenging skill to learn. However, as you gain more wisdom and experience as an investor, you will become more patient. Let's go back to the situation I described above where I had a lot of money sitting around.

I felt pressure to invest in something because my money wasn't doing anything for me. In the early stages of my investment journey, I forced myself to make investment decisions too quickly. In December of 2019, I published a video titled What I'm Doing To Prepare For The Next Recession.

I didn't know that there would be a stock market crash based on a pandemic. However, I did know that a recession would inevitably occur. At the time, I was learning about the cycle of the stock market.

Early on I wish I knew that every year there is a correction in the market where it drops up to 10%. Every ten years, there has always been a crash of 10% or more.

I'm a fan of Ray Dalio, one of the greatest investors of all time. He is the CEO of Bridgewater, which is one of the top Hedge fund companies in the world. He has a great video on YouTube titled How The Economic Machine Works that I recommend you watch. Inside that video, he talks about how we were due for a crash.

I view a market crash as an opportunity to buy the stocks of great companies at a discount. Thus, I had the patience to hold onto a lot of cash and wait for an opportunity to arise.

At the same time, I still wanted to put some of my money to work.

You don't want to sit and wait forever. You may miss out on some of the gains. However, I was holding the bulk of my money for when a crash occurred.

Sure enough, the stock market crash happened in March of 2020. I had one million dollars in cash that I was willing to invest, so I went on a shopping spree. I bought a lot of companies, including ETFs and individual stocks. These were large-cap companies that were on sale.

In the words of multi-millionaire investor Warren Buffett, “Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy, and greedy only when others are fearful …”

This quote speaks to the emotion-driven piece of investing that I spoke about above. When people are fearful, they end up selling their investments. This is an opportunity for you to be greedy.

I was greedy. As a result, my investments have paid off tenfold since the market recovered. This is a great example of what can happen when you're patient with the stock market.

4. Know when to sell, and be OK with taking a loss

When I first started investing I never wanted to sell anything. I didn't need to sell my investments because I didn't need the money. However, when you're an investor, I've learned that you only lose or make money when you sell.

If you invest in something and it goes down, you don't lose that money. It's only when you sell that stock that you experience a loss. The same thing happens when the money goes up.

Even though certain investments may recover over time, if you wait too long, you'll be missing out on other investment opportunities. Let's say that I put $20,000 into one stock but I lose $10,000. With that $10,000 you still have left you could wait, but you risk stagnation.

I've learned that it's OK to take a loss if you invest your money into something that will allow you to get your money back faster. Back to the example above, you could take your remaining $10,000 and put it into a better investment, like the S&P 500. It never feels good to lose money, but you have to look at the big picture of your investment portfolio.

5. Have fewer investments and a more simplified portfolio

A mistake that I've made in the past is investing in too many stocks at once, especially during the pandemic. The problem with having so many different stocks is that it's difficult to manage all of them.

To be a great investor, you have to pay attention to what is happening. There will be times where you might need to sell or pivot. The only way that you know when to do that is by being in touch with what is going on with the companies you've invested in.

AT&T is a good example of what happens when you aren't up to date with a company. Until recently, they've been known as a high dividend-paying stock. This stock is a staple for a lot of retirees because it's a great income investment.

Recently AT&T decided to change their business and they decided to cut their dividend. Thus, it's a lot less than it used to be. That's not good for people who depended on that money as retirees.

When it comes to simplifying your portfolio, start by evaluating what your long-term investment goals are. Once you know what that looks like, you can create an asset allocation. An asset allocation is an investment strategy where you distribute your investment portfolio among different asset classes.

These are the 5 things I wish I knew before investing in stocks.

I think that these are valuable lessons for any investor. However, everyone has a different investment journey. The lessons that you learn may be different from mine.

There will always be ups and downs in the stock market. Everyone loses money at some point. Don't let investment losses stop you from investing altogether. If you learn from your mistakes, you will make better judgments in the future.

On that note, happy investing!

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