How Preston would build $10 million in 10 years starting from zero

0:00 If you took everything away from me today, every dollar in my bank account, every property, every investment, every business, and you told me, Preston, you're starting over from absolute zero, I wouldn't panic because I know exactly what I would do to build $10 million in the next 10 years. And before you click away thinking that's impossible or that only works for special people, let me be clear about something. I'm not going to tell you to skip your morning coffee for 40 years and then invest the difference. That math doesn't even work. I'm not going to go tell you to pick the next Amazon stock. I have no idea what that is and neither does anyone else. What I'm going to do is walk you through the exact blueprint that I used to go from being in an immigrant family that came from nothing to building an 8 figureure net worth built completely from scratch. Didn't have an inheritance. Definitely didn't have a trust fund. I didn't have some lucky cryptobat. Just a system that actually works if you're willing to execute it. This isn't get-rich quick. This is getrich inevitable. If you follow this framework with discipline and patience, $10 million in 10 years isn't just some fantasy. It's math. Let me show you exactly how to do it. First, I'm going to explain why $10 million is a specific target and what it actually means for your life. Now, I'm going to break down the four-phase wealth framework that makes this possible. And finally, I'm going to walk you through each phase in detail with specific numbers and timelines, which is the part that most people never get to see. The last section is where the real blueprint lives. First, let's talk about why $10 million specifically, because a goal without a meaning is just a number. At $10 million invested conservatively, and I'm talking boring, safe 3 to 4% withdrawal rates, you can pull $300 to $400,000 per year for the rest of your life without ever touching the

1:18 principal. That's never have to work again money. That's send your kids to any school money. That's take care of your parents' money. That's never make a decision based on financial stress again money. More importantly, $10 million is generational wealth. If you don't blow it and you teach your kids how money actually works, that wealth can compound for generations. Your grandkids could be set because of decisions you make today. Now, here's what most people don't realize. $10 million in 10 years is very achievable. Not by doing what everyone else does, though. Let's do the math. If you save $500 a month, which is more than most Americans can afford, and invest in index funds getting 7% returns, after 10 years, you'll have about $86,000. Even if you save $2,000 a month or $24,000 per year, which requires a serious income, you'd have about $345,000 after a decade. That's not the path to $10 million. Not even close. You need a completely different playbook. The blueprint has four phases, and this is critical. They have to happen in this order. If you skip a phase or get the sequence wrong, and the whole thing just breaks down. Phase one is high income. You need cash flow to do anything else. This is the fuel for everything that follows. Phase two is tax optimization. If you keep more of what you make, most people skip this entirely and it's going to cost them hundreds of thousands of dollars over their lifetime. Phase three is asset acquisition. You need to turn your cash into things that make you more cash.

2:24 This is where wealth is actually built. Phase four is leverage and compounding. You can use time and other people's money to accelerate everything. This is where $1 million becomes $10 million. Let me break down exactly what I would do in each phase if I was starting from zero today. Starting from zero, my absolute first priority is getting my income as high as possible as fast as possible. Not because income is the goal. It's not. But because income is the raw material, you can't invest what you don't have. You can't optimize taxes on money you didn't make. And you can't buy assets with capital you never accumulated. So phase one is all about cash flow. Here's how I'd approach it. Path A is a highpaying W2 career. If I'm starting fresh, there are specific industries where you can earn $150 to $300,000 plus relatively quickly if you're good and you hustle versus tech sales, and this is how I got started. They can routinely make $200 to $400,000 in total comp. Medical device sales have similar numbers. Software engineering at a decent company, $150 to $250,000 is standard in major markets. There's also investment banking, consulting, corporate finance, all pay well early in your career. The key is picking a field with a high ceiling, not just a high starting salary. You want a career where exceptional performance translates directly into exceptional income. Path B is a service-based business. This is the faster path if you have a marketable skill. Think consulting, coaching, freelancing, agency work, anything where you're trading expertise for money. Now, this is faster because there's no ceiling. A W2 job is going to cap your income based on what your employer decides you're worth. A service-based

3:40 business capture income based on what value you can deliver and how well you can sell it. A freelance consultant can go from $0 to $20,000 per month in their first year if they're solving real problems for people willing to pay. I've seen it happen many times. And if I was starting from zero, I'd probably do both. Get a high paying W2 job for stable income and benefits and then build a service-based business on the side. The W2 is going to cover your living expenses and then the business becomes your wealth building machine. My target for phase one is to get to 200 to $300,000 in annual income within 24 months. Is this aggressive? Absolutely. Is it impossible? No. Not if you're strategic about where you put your energy. Now, here's the part that most people mess up. They increase their income and then immediately increase their lifestyle to match it. This is the biggest wealth killer. If your lifestyle expands with your income, you never get ahead. You're just running in place at a higher speed. During phase one, I'm keeping my expenses around $50 to $60,000 per year, no matter what I make.

4:29 decent apartment, reliable car, good food, but nothing extravagant. Everything else gets stacked for phase three. The discipline in this phase is what makes everything else possible. Now, let's get into phase two. It's going to run parallel to phase one, starting from day one. Because here's what most people don't understand. The difference between building wealth and just making money often comes down to how much you keep and not how much you earn. At a $250,000 income, you could easily be paying 70 to $90,000 per year in taxes if you're not strategic. But with proper planning, you could pay a fraction of that. So, let's be conservative and call $30,000 difference every year over a decade. That's $300,000 in extra capital before any investment returns. This isn't some minor optimization. This is a fundamental wealth building strategy. Here's exactly what I would do. The first move is to start a business entity from day one. Even if I have a W2 job, I'm starting a legitimate side business as soon as possible. Maybe it's consulting in my area of expertise.

5:15 Maybe it's content creation around a topic I know. Maybe it's a service I can offer on the weekends. The business doesn't need to be huge. It just needs to be real because a real business is going to unlock the business side of the tax code. and that's where the majority of legal tax strategies live. I'd create an LLC for simplicity and I consider converting to an escorp once I'm consistently making over $50,000 in business income. And it's because the escort election let you split income between salary subject to payroll tax and distributions which isn't subject to payroll tax on $100,000 in business profit. That's easily over $10,000 in tax savings. The second move is to max out tax advantage accounts. Now, this sounds basic, but most people either don't max them out or they put money in the wrong accounts. If my employer offers a 401k match, I'm contributing at least enough to get the full match. That's just free money. But beyond that, I'm thinking strategically about traditional versus Roth. If I think that tax rates are going to be going up in the future, and I personally I do, I want more money in Roth accounts where I can grow and be withdrawn taxfree forever. But if my income is really high right now, the media deduction from traditional contributions might make more sense. Next up is the HSA. If I have a high deductible health plan, this is the most powerful account in the tax code. Pre-tax contribution, taxfree growth, taxree withdrawals for medical expenses. I max it out at $4150 if I'm single or $8,300 if I have a family every year without question. Now, if you have a business, I can set up a solo 401k or a SE IRA and contribute up to $70,000 per year. That's three times a normal 401k limit, and this is a massive tax shelter that most W2 employees can't

6:33 access. The third move is to capture legitimate business deductions. With a business, things I'm already spending money on become deductible. For example, the home office. I calculate the square footage of my dedicated workspace as a percentage of my house. If my office is 200 ft in my 2,000t home, that's 10% of my rent, utilities, internet, and renters's insurance. That becomes a business deduction. Next up is my vehicle. If I use my car for business purposes like meeting clients, going to business related events, I can deduct either the actual expenses or the standard mileage rate. Next up is equipment. The laptop, monitor, phone, software subscriptions. They're all deductible if used for business. Under section 179, I can often deduct the full cost in year 1 instead of depreciating over time as well. Next up is professional development. Think books, conferences, coaching. If it's related to my business, it's deductible. The fourth move is to get a tax strategist and not a tax preparer. I find someone who specializes in working with entrepreneurs and higher earners. Not someone who just files returns, someone who does proactive planning. A good tax strategist will have a conversation with me in January or February before the year ends about what moves I should make. Should I accelerate any income, defer any income, make equipment purchases, do a Roth conversion or harvest tax losses in my portfolio.

7:35 These conversations happen before December 31st, and it can save you tens of thousands of dollars if you do so. See, most people only think about taxes in April after all the decisions have already been locked in. The bottom line is by optimizing taxes, I'm keeping an extra 15 to 20% plus of everything I earn on $250,000 in income. That's 40 to $50,000 per year that compounds for my wealth instead of disappearing to the government over 10 years with investment returns. That's potentially $700 to $800,000 in extra wealth. And this is literally just from tax strategy alone. Now, everything I just covered about tax strategy is just scratching the surface. There are specific tax strategies like cost irrigation, the Augusta rule, strategic Roth conversions, just to name a few, that can take your tax savings to another level entirely. That's why this week I'm hosting a free live master class where I'm going to go deep on advanced tax strategies for higher earners and go over specific moves that can add over $100,000 or more to your net worth over time. It's free, it's live, and you can ask questions and I'm going to be walking through real scenarios with real numbers. Link is in the description and we're going to cap spot so I can answer all your questions.

8:29 All right, with that being said, let's get back into phase three. Phase three is where wealth is actually built, not by saving, but by acquiring assets that produce more wealth. An asset is something that puts money into your pocket. A liability is something that takes money out. Your house with a mortgage is a liability. Money flows out every single month. A rental property with positive cash flow is an asset. Money flows in. By phase three, I've got capital stacking out from high income and tax savings. And here's exactly where I deploy it. The first asset class I'm going to go into is real estate. 40% of my investment capital is going to go here. Real estate is the backbone of wealth building in America. And it's because it offers something that no other asset class does. Cash flow, appreciation, tax benefits, leverage, and also inflation hedging. The first real estate move that I would look into is house hacking. This is exactly how I got started. I'll buy a duplex, triplex, or small multif family property, live in one of the units, rent out the others, and the rental income is going to cover most or all of my mortgage payment. I'm now living for free or close to it while building equity in a property that's appreciating. And think about what this does for the wealth equation. Instead of paying $2,500 per month in rent that disappears forever, I'm paying the same $2,500, but $1,800 of it comes back from tenants, and I'm building equity in an asset that I own. That's over a $30,000 annual swing. And as I accumulate more capital, I'm going to start expanding additional rental properties and potentially small apartment building.

9:36 The tax benefits of real estate are incredible. I can depreciate the building over time, which creates paper losses that offset the rental income. I can show $0 in taxable income while actually putting away $20,000 in my pocket from the cash flow. It's legal, and that's how wealthy real estate investors operate. The second asset class is business ownership. I'm going to put 30% of my effort here with unlimited upside. Now, remember that side business for phase two. By phase three, I'm turning it into a real company. I'm going to start hiring contractors or employees. I'm going to build a system so that business can run without me personally being involved in every single transaction. I'm going to start creating something that has value beyond just my time. My target here is going to be a business doing $500,000 to a million dollars in revenue with 30% plus profit margins. That's $150 to $300,000 per year in profit flowing to me. That's profit that can then deploy into other assets. But here's what most people miss. A profitable business is also an asset itself as value they can eventually sell. A service business with $300,000 in annual profit might sell for 3 to 5x that profit. We're talking $900,000 to $ 1.5 million in a potential exit. One sale could put you halfway to the $10 million goal. The third asset class are market investments. That's 30% of my investment capital. My tax advantage accounts are going to get funded first. So think 401k, Roth IRA, HSA, solo 401ks. This is where money is going to start compounding for decades tax-free or tax deferred. The core portfolio is going to be boring and that's intentional. Think lowcost index funds, coal stock market, maybe some international exposure. I'm not going to

10:52 be stockpicking. I'm not going to be timing the market. I'm just going to be capturing the long-term growth of the entire economy with minimal fees. Within that 30%, I'm also going to allocate a portion to Bitcoin. Before you think I'm crazy, I believe that Bitcoin specifically is a legitimate long-term store of value, and I want asymmetric exposure. If it goes to zero, I lose a portion of this allocation. But if it 10xes over the next decade, it's going to significantly accelerate my timeline. You don't have to bet the farm, but study it and take a position in it. Now, notice what I'm not doing. I'm not day trading. I'm not buying options. I'm not chasing more stocks, and I'm not trying to find the next Amazon. I'm building a portfolio designed to grow steadily over time while I focus my active energy on real estate and business. That's where I have control over outcomes and where the tax benefits are the strongest. The fourth asset is to have cash reserves that's going to stay around 10% liquid. I'm keeping 6 to 12 months of expenses in cash or cash equivalents at all times. And it's not because I'm scared.

11:39 It's because opportunity favors the prepared. When a great real estate deal comes up, I need to move fast. When the market crashes and stocks go on sale, I want capital to deploy. When a business acquisition to opportunity appears, I can't be scrambling for funds. Cash reserves let me play offense when everyone else is playing defense. Phase four is where all this comes together and where the wealth building shifts from linear to exponential. By year five, I've executed phases 1 through three and I've got multiple income streams coming in. I've got a growing asset base and more importantly, I've got access to leverage. Leverage means using other people's money to accelerate your returns. When you have no assets, nobody wants to lend to you. But once you have assets and income, banks want to lend to you at favorable rates. The first leverage play is real estate refinancing. I've got rental properties that have appreciated in value. I can refinance them, pull out the cash, and then use that cash to buy more properties. This is the Burr method. buy, rehab, rent, refinance, repeat. I buy a property below market value. I fix it up. I rent it out. I refinance to pull out my initial capital or more. And then I'm going to use that capital to do it again. My portfolio is going to grow without me putting in new cash every single time. The second leverage play is business expansion with debt. My business is profitable and stable, and I can get business lines of credit or even SBA loans at reasonable rates. The capital can fund more expansion. So, think marketing or hires, entering new markets, and that's without me having to fund it all for my profits. Smart business debt that generates ROI higher than the interest rate is wealth-b buildinging debt. It's fundamentally different from consumer debt. The third

12:55 leverage play is portfolio-based lending. Once I have substantial investments, I can borrow against them at low rates. If you need capital for an opportunity, instead of selling stocks and triggering capital gains taxes, I can borrow against my portfolio. I keep the assets, keep the compounding, and they can use the liquidity for whatever I need. And this is how the wealthy never sell. They borrow against appreciated assets instead. It's a completely different playbook than sell your stocks when you need the money. Now, here's where the compounding gets crazy. Years one through two, building income to $250,000 plus, living on $60,000, saving $100 to $150,000 per year, and by the end of year two, you're going to have $250,000 in capital. By years three to four, income at $300,000 plus, assets appreciating at 10 to 15%. You have a business generating profits. By the end of year four, you're going to have $800,000 to a million total net worth. Years five through 7, this is where the leverage is going to kick in. For real estate portfolio expanding through refinancing, we have a business potentially worth 3 to 5x the profits.

13:43 And we have market investments compounding. By the end of year 7, we're at 3 to4 million. From years 8 to 10, this is where the full compounding effect begins. We have multiple properties, substantial equity, business value to over a million dollars, investment portfolio well into the seven figures, and potential business exit or recapitalization event. By the end of year 10, we have over $10 million. Now, is this aggressive? Yes. Is it guaranteed? Absolutely not. Nothing is. But is this achievable for someone willing to execute this playbook consistently for a decade? Yes, absolutely. I've done it. I've seen others do it. The math works. Now, let me be real about the risks because nobody else will tell you this part. The first risk is lifestyle inflation. This is the biggest wealth killer. The moment you start making good money, you upgrade your car, your apartment, your wardrobe, your vacations, the game is over. You've reset the clock to zero. I've seen this derail more people than bad investments ever have. The second risk is bad real estate deals. The due diligence is everything. One property with hidden problems in a declining market with bad tenants can set you back years. Get educated, run the numbers conservatively, and walk away from more deals than you take. The third risk is business failure. Most businesses fail.

14:41 That's just a statistical reality. but they usually fail because people quit too early, they don't adapt to feedback, or they run out of capital. Stay in the game long enough, keep learning, keep iterating, and your odds go up dramatically. The fourth risk is overleveraging. Leverage is a tool. Like any tool, it can hurt you if you use it wrong. Too much debt at the wrong time. When income drops or properties sit vacant, it can cascade into disaster. So, make sure you keep reserves and don't stretch yourself too thin. The fifth risk is tax mistakes. Aggressive doesn't mean reckless. Every strategy I mentioned is legal. They're documented and well established, but you need proper guidance. DIY tax strategy at high income levels is a recipe for audits and penalties. Get professional help. Now, let me tell you why I'm so confident about this blueprint. I watched my parents, Korean immigrants who arrived in America with nothing, work their entire lives. They have multiple jobs, constant sacrifice. They work nights, weekends, holidays. They give everything they had for their kids. Now, they did build a good life, and I don't want to minimize that. I'm grateful for everything they provided, but they never built wealth. They never had financial freedom. They never had the option to just stop. Into their 50s, they were still worried about money.

15:36 They were still stressed, still wondering if they had enough. They followed the rules. They worked hard, save money, trust the system, don't take risks. And the system gave them exactly what it was designed to give. And that's a lifetime of labor in exchange for basic security. Now, the blueprint I shared is what I wish someone had taught my dad when he first set foot in this country. It's a game that I wish my parents knew existed. Instead, I had to figure this all out myself through books, through mentors, through trial and error, through expensive mistakes. It took me years to understand how wealth is really built. Years I could have saved if someone had just laid it out clearly. And that's why I make these videos. Because the blueprint I followed to build an 8 figureure net worth isn't some secret. It isn't complicated. And it isn't only available to special people with special advantages. It's just a system and anyone willing to execute it with discipline and patience can achieve this. All right, so let's do a quick recap. The first phase is to get your income to $200 to $300,000 as fast as possible through a highpaying career, a service business, or both. Live way below your means during this phase and stack capital. The second phase is to optimize taxes from day one. You want to get a business entity, max out your tax advantage accounts, capture legitimate deductions, and work with a tax strategist. Keep an extra [music] 15 to 20% plus of everything that you earn.

16:35 Phase three is to acquire assets. real estate for cash flow, appreciation and tax benefits and the business ownership for income and equity value. Market investments for steady compounding and cash reserves for opportunities. The fourth phase is deploy leverage and let compounding work, refinance real estate to buy more. Use business profits to fund expansion and borrow against assets instead of selling them. And watch $1 million to turn into $10 million. Now, if you found this helpful, you're going to love what I have in my live free class this week. Again, we're going to go deep on advanced tax strategies, specific moves that can add over $100,000 or more to your net worth over time. We're going to talk about things you can implement this year to stop overpaying the IRS and accelerate your wealth building. It's free and you can ask me any questions. The link is in the description. If you found this video helpful, please like the video and hit subscribe for more videos every single week where I break down the strategies that the wealthy use that nobody teaches in school. It's the same playbook that I wish my immigrant grandparents had when they started. And drop a comment and tell me which phase you're currently in and what's your biggest challenge. Make sure to watch this next video that the almighty algorithm recommends. and I'll see you in the next one.