It is not often that people discuss among themselves how to become rich or even a millionaire. And the theme, how to make a million to 30 years, and it looks fantastic.
However, everything is possible! At the age of 21, after leaving College, Cardone was in debt, but by thirty I was able to become a millionaire.
Here are 10 steps to help you repeat my path of success:
1. Follow the money.
Given the current economic conditions, it is impossible to just quietly follow the status of a millionaire, that is, to save. So the first step is to focus on how to increase your income with each step. At first my income was 3 thousand dollars a month, and after 9 years it became 20 thousand dollars a month. Start following the money, it will make you control the income and see the opportunities.
2. To be rather than to seem!
I didn't immediately buy my first luxury watch or car until my business and investment provided me with a few guaranteed revenue streams. And even when I became a millionaire, I continued to ride in the Toyota Camry. Let them recognize you by honest business, not by the trinkets you buy.
3. Save to invest, not for the sake of saving.
The only thing you should save money is for investment. Put the savings on guaranteed protected (and untouchable) accounts. Never use these accounts, even in emergency situations. This will encourage you to continue to increase your income step by step. And to this day at least twice a year I lose everything because I always invest my super profits in businesses, sometimes risky.
4. Avoid debts that will not bring you money.
Always use the rule not to take a loan if it does not bring you money. When I borrowed money for a car, I realized it would increase my income. Rich people use debt to attract investment and increase cash flows. And only the poor use credit to buy things that will make those who are already rich richer.
5. You really love money.
Millions of people dream of financial freedom, but millions will earn only those who will make it their priority. To become and stay rich, you need to make it your main dream. Money can be compared to a jealous lover. If you ignore them, they will start to ignore you or, even worse, trade you for someone else who puts them in the highest priority.
6. Money never sleeps.
Money doesn't know what hours, schedule, work schedule or weekends are, so you should forget about these concepts too. Money like those who have enormous capacity for work. When I was 26 years old, I worked in a retail store that closed at 7 PM. But at 11 PM you could basically find me there — I continued to sell. Don't try to be the smartest or the luckiest — just make sure you work harder than the rest.
7. Poverty makes no sense.
I was poor, and it sucks. There was a time when I could hardly make ends meet, and it is very unpleasant. Drive away the thought that being poor is not so scary. As bill gates once said, " if you're born into poverty, it's not your fault. But if you died in poverty, it's your own fault."
8. Find a millionaire mentor for yourself.
Most of us come from the middle or even lower class and therefore adhere to the boundaries and ideas inherent in this environment. Instead, I began to study the life of millionaires and copy what and how they do. Find your own millionaire mentor and learn from him. Most of the rich people are happy to share their knowledge and skills.
9. Make your money work.
Investments are like the Holy Grail on the way to wealth — you should be getting more money from investment projects than from your own work. If you do not have additional income, you will not be able to make further investments. The second company I started required an investment of $ 50,000. In the future month brought 50 thousand dollars over 10 years. My third investment was in real estate, where I started with $ 350K — most of my income at the time. And now it is still my property, which continues to bring me income. Investment is the only goal to take the next steps. Your money should work for you and help you climb higher.
10. Aim for 10 million at once.
My biggest financial mistake was that I wasn't ambitious enough. I implore you, just put a large target. On this planet there is no shortage of money, there is only a lack of ambitious businessmen.
Apply these 10 steps and they will lead you to wealth. Stay away from those who accuse you of having your financial dreams born of greed. Avoid rapid enrichment schemes, adhere to the principles of honest business, never give up — and one day, when you reach the target, be ready to help others get to the financial dream.