How to Invest: Becoming a Millionaire | Phil Town

If you look at any of the wealthiest people in America, they have probably gone through these 8 steps. If followed correctly, these steps will put you on the path to more wealth than you can ever imagine.

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48 thoughts on “How to Invest: Becoming a Millionaire | Phil Town”

  1. Phil, this is a great video that provides solid advice. Thank you for sharing your wisdom! I wish I had had access to this guidance in the year 2000 when I owned Amazon shares and really understood it (Step 1). My problem? "Why can't the rest of the investing world see what Jeff Bezos is building?!?" When you "get" what is happening in an industry and company, and are impatient for everyone else to catch up, you sometimes throw your hands in the air and sell… because the stock doesn't seem to be going anywhere. Real estate: Location, location, location. Stocks: Patience, patience, patience. For the price to go down (Step 3) and when it goes into the stratosphere (Step 7). What am I looking for now (Steps 1, 2)? One or two robotics companies that will create the "breakout" robots that everyone will want. When I find these companies, I will follow your steps 3 to 6 diligently…

  2. If I load up my truck already when the price drops below the margin of safety, then where do I get the capital to stockpile it when it goes down even further? Also do you recommend getting rid of the Target retirement funds in my 401K/roth and start buying stocks?

  3. I really regret that I didn't sign up your workshop in Atlanta. My question is: how to accumulate my investment quickly with a small amount of money by using options? I heard you mention options all the time, but I couldn't find the details. I read Rule #1 investing, and love it so much. Is the options part in Payback Time? Thank you.

  4. it's a long road to wealth for some. At this moment I have opened an SDBA or a Self Directed Brokerage Account attached to my 401K. Now that I have increased my monthly contribution from my paycheck to 12 percent before taxes, I'm firing my mutual fund manager and transferring 100 percent of my vested funds from 401K to my SDBA cash sweep account. Next I researching companies that I can understand, looking for moat, managment, and on sale. run the numbers, zero in, and sit in cash until an event puts my businesses on sale. when on sale I'll load up the van, sell at a profit when the time is right. Rinse and repeat.

  5. Phil,
    I just got done reading a book called "Why Moats Matter" by Heather Brilliant.  It gave a very good explanation of moats and their importance.  The best part were the questions she provided in the book by sectors to ask yourself when evaluating a business.  I can't help but think it may be on your book shelf.

    Take care my friend.

  6. WoW! Sir! Incredible.! What a knowledge…!!! I started investment and by that I was also collecting information and now finally got true and pure knowledge.! Thank you.! Seriously one day I ll definitely meet you in real life…!!!

  7. Any Australian investor here? I am looking for the indicators needed to calculate the ROIC, EPS etc for companies. But I can't seem to locate these values Net Operating Profit After Taxes, Equity, Debt, EPS numbers and so on. Which Stock Data website are you using?
    Thanks for your help.

  8. Thanks Phil. This was very useful and a good refresher to watch. I'm in my process of researching "my wonderful companies," but I have a question as to how know when these companies will go on sale especially now that the market is close to a crash? What kind of tools do we use to "watch" the stocks of our companies decease and go on sale? What kind of tools do we use to see when the next recession is going to hit?

  9. The biggest tip anyone can take is to live simple but think obsessively of what you want to achieve and strive for it. Self made billionaires live simple and do not flash their money. They flash the brains and hard work through success

  10. Hey Phil, I have a feeling GE is on sale at the moment in the market. I keep buying each time it drops, but it's not looking good so far. Trying to keep my hopes up. Great videos by the way. Any advice would be greatly appreciated, thanks.

  11. Great video. I just wanted to ask a question about determining the value of a company: generally, popular companies like Coca cola, Apple, GE, etc. have been there for a while, are having new products on the market regularly… do we still have to do the calculations for their big 5 numbers before buying their stocks? I mean, Isn't it obvious or may be there is anther strategy to invest in this type of companies? thank you.

  12. Phil – your videos, podcasts, and books are terrific. One question I have about selling (step 7 in this video). What is your selling strategy for a company that is still wonderful but whose price now well exceeds the sticker price? Do you sell all of your holdings? Or enough to recoup your original investment, or…? And what is your strategy for selling if the company is no longer wonderful? Again, sell all, sell some, or…? Thanks!

  13. Awesome advice! I will watch all of your videos during my free time.
    Currently im investing in stocks for passive income and trying really hard to save up for an apartment so I can rent it out.
    Huge challenge is to value the stock price, what if a company expands and stock value increases? Then its difficult for me to value it. Im gonna explore more about it. Thanks again!

  14. I love this video. But not sure if I should invest now or pay off my house first. My house will be paid off in 10years. I do have 15% of my income in retirement funds. Any advice would be great.

  15. Eight Steps:
    1, Find a business;
    Focus on industry that you already have capability to understand
    2, Find the value of that business;
    (meaning, moat, management)
    3, Wait the business to be on sale;
    4, But when it's on sale (buy a lot, not tiny);
    Buy when people are on fear
    5, Behave like the owner of the business;
    Care about the values of the business;
    Don't own too many business
    6, Stockpling;
    Core numbers:
    Earnings growth, sales growth, book value growth, cash flow growth, return on investment capital;
    Check Debt
    7, Sell when fundamental changes
    also when price goes to high
    8, Repeat 1~7.

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