The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!

Steven Bartlett (0:00)

Fifty-three percent of you are planning to make a New Year's resolution about money, finance and investing this year because you want financial freedom and financial security. So we went through every conversation we've had about money, personal finance and investing, and we found the most replayed and most shared moments from those conversations for you. Everything from life-changing advice on saving, spending, investing, tax, crypto, buying a house and having a money mindset.

Alex Hormozi (0:27)

The most expensive thing that all of us are paying for is the information that we don't know.

Codie Sanchez (0:31)

So how do you make the most money humanly possible? It's two things.

Ramit Sethi (0:34)

Let me tell you a few key basic things about investing and money.

Morgan Housel (0:39)

It's going to lead to an amount of success that will literally put you in the top 5% of investors.

Jaspreet Singh (0:43)

You never have to worry about money again.

Steven Bartlett (0:45)

If you listen to this conversation, we believe your money goals will come true in 2025 So take notes.

So what is the S&P 500 for anybody that doesn't know? Yeah. What are the returns that I'm likely to get from investing in the S&P 500? I really want to simplify this for people that are at the very start of their investing journey. You know because, I mean, this is what you spend so much of your time doing that I just think about my team here. Sit in the diary of a CEO, there's about 30 people. And we started talking about money one day. And it was mind-blowing how nobody in my team's lives had ever had the conversation with them about investing. We all think of investing as something that rich people after the age of 40 do. Once you have a million dollars. Or if you don't have a million dollars, then the only other way to invest we're taught is to buy a house.

Ramit Sethi (1:39)

This is driving me insane.

Steven Bartlett (1:40)

It's true though, isn't it?

Ramit Sethi (1:41)

Yes, and that's the central part of my work. Is that you can live a rich life. And that rich life can be richer and more vibrant and more personal than you ever imagined. If you want to travel, you can travel for longer than you ever thought. You can travel for me at nicer hotels. You can spend more time with your children, with your loved ones. Whatever your rich life is, you can do that. But you've got to learn a few key basic things about investing and money. So let me tell you what I would tell my family when they come to me. They go, how should I start investing? The simplest, simplest way that I advise my family is I say get a target date fund. So let me explain what that is. A target date fund is one fund, just one, and you pick it based on the year that you're going to retire.

So if you're going to retire in 2050, if you're going to be 65 in 2050, you go and you find that one fund. It's called a Vanguard 2065 fund, or Fidelity 2065, or Schwab 2065 There's lots of brokers. These funds, it's one fund, all you do is put money into it. That's it. The fund, like a pie chart, is automatically diversified. So as you get older, it gets more conservative, because somebody who's 75 years old should be investing differently than someone who's 25 One fund, all you have to do is set your money up to go into it every single month.

Steven Bartlett (3:13)

What is a fund?

Ramit Sethi (3:14)

A fund is a set or a basket of stocks and maybe bonds. So we've all heard of companies like Microsoft, Google, whatever. A fund owns lots of these, right? And that's important because we've heard diversification, like you should have diversified your investments. Okay, well, how do I do that? You don't need to go and buy 20 stocks and then figure out how much of each to do. That's too much work. And honestly, most people are not good at that, even professionals. You buy a fund which automatically owns lots of stocks, like hundreds of them. And over time, all you, the individual investor like me, have to focus on is putting money into it automatically.

Steven Bartlett (4:01)

So a fund essentially, I've got a hundred pounds that I want to invest. I find a fund. Where do I find these funds?

Ramit Sethi (4:08)

You can go to Vanguard, Schwab or Fidelity. All those are great companies. What you're looking for, regardless of what country you're in, is you're looking for a low cost brokerage firm.