Investor

TikTok investor Charlie Ehlers shares controversial currency rules

A TikToker is dividing the internet after sharing the controversial money rules he followed to amass a fortune.

Charlie Ehlers, a 28-year-old Australian ‘equity investor’, says he saved more than $200,000 by the age of 26 – thanks to ideas like avoiding going to university unless he knew what you want to do or buy a house unless it’s for an investment.

“Here are some financial rules that I follow as someone in my twenties who has been investing for 10 years now,” Ehlers said in the viral video, which has garnered more than 675,000 views.

Ehlers first started his TikTok clip by describing less controversial rules that helped him cut spending on clothes, alcohol and food delivery.

“(Don’t buy) designer clothing brands and labels,” the TikToker advised, saying fashion houses such as Louis Vuitton and Gucci “specifically target broke people who want to look rich.”

Its rulebook also prohibited overspending on alcohol and services such as Uber Eats.

“If you’re someone who’s going to go out and spend $150 to $200 on drinks but complain about fuel prices, rent prices and interest rates, you’re an idiot,” he scolded. , encouraging people to “pre-drink” at home before going out to bars with friends.

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Then Ehlers admitted his rules were going to get a little more “controversial.”

First, he urged viewers not to go to college unless they were absolutely sure they needed a specific degree to achieve their dream job.

“Too many people go into debt to get a degree they don’t use,” he said. “If you graduate, [only] do it because you want to be in this profession.

Second, Ehlers urged viewers to avoid buying a home unless it can be used as an investment.

“Don’t buy a house,” implored the guru. “Unless you’ve sat down and gone through all the numbers of what it costs to run and own a home, you’re not allowed to comment on this point.

“Personally, I would buy a house if I could make it a cash-generating asset, which most don’t because buying a house is usually a lifestyle choice. It’s an emotional decision,” he said. “I would buy a house if I had a family and we wanted a specific place for a very specific reason. But to create wealth, buying a house to live in is not the solution.

Meanwhile, another of Ehler’s eyebrow rules revolved around “investing in good bedding.”

“Seriously, you spend a third of your life in bed and your sleep has the biggest impact on your health, so buy good bedding,” he said.

The controversial list of rules drew thousands of comments from viewers, who got mixed reactions.

“Literally not bad on it all! Make smart choices,” one said, before others chimed in with less enthusiastic responses.

“I’m ok with everything but the house,” one wrote. “Buying a home can be one of the most, if not THE most, effective way to build wealth.”