Becoming a millionaire is a taboo subject. To say that this can be achieved at 30 seems more like a fantasy. It should not be like that, since this is possible. When I was 21, I left school in bankruptcy and by the age of 30 I was a millionaire.
I share 10 steps that will make you rich:
Follow the money. In the economic environment of today you can not obtain the status of a millionaire. The first step is to focus on increasing your income in increments and repeat that. My income was $ 3,000 per month and nine years later it was $ 20,000 per month. Start to follow the money and that will force you to control your income and see opportunities.
Do not presume, introduce yourself to work. I did not buy my first luxury watch or car until my business and investments were producing multiple safe income streams. I still drove a Toyota Camry when I became a millionaire.
Be recognized for your work ethic, not for the things you buy.
- Save to invest, do not save to save. The only reason to save money is to later invest it. Put it in a safe and untouchable account. Never use these accounts, even for an emergency. This will force you to follow step one (follow the money).
Today, at least twice a year, I am bankrupt because I always invest my surpluses in companies that I can not enter.
Avoid debts that do not pay you. I borrowed money for a car only because I knew I could increase my income. Rich people use debt to take advantage of investments and grow their cash flows. Poor people use debt to buy things that make the rich richer.
Treat money like a jealous lover. Millions of people want economic freedom, but only those who make it a priority have millions. To be rich and continue like this you have to make it your priority. If you ignore it, it will ignore you or worse, it will leave you for someone who does take it as a priority.
Money does not sleep. The money does not know the clocks, schedules or vacations and you should not either. Money loves people who have a work ethic.
When I was 26, I was in retail and the store where I worked closed at 7 p.m. Many times you could find me there at 11 p.m. selling something else. Never try to be the smartest or the luckiest person, just make sure you work more than others.
Being poor does not make sense. I have been poor and stinks. I had enough and that also stunk. Eliminate all ideas that being poor is somehow fine. Bill Gates said "If you're born poor, it's not your mistake. But if you die poor, it's your fault. "
Find a millionaire mentor. Most of us grew up in a middle or poor class and limited ourselves to the ideas of a group. I have studied the millionaires to duplicate what they did. Find your personal mentor and study it. Most rich people are very generous with their knowledge and resources.
Make your money lift heavy things. Investing is the Holy Grail to become a millionaire and you should make more money from your investments than from your work. If you do not have extra money you will not make investments.
The second company that I started required an investment of 50 thousand dollars. That company has given me back that same amount every month for the last ten years.
My third investment was in real estate, where I started with 350 thousand, a large part of what I had at that time. I still own that property and it continues to give me income. Investing is the only reason to do the other steps and your money should work for you and lift the heavy stuff.
- It aims to have 10 million, not 1 million. The biggest financial mistake I made was not thinking big. There is no shortage of money on this planet, only a shortage of people who do not think big.
Apply these 10 steps and you will become a millionaire. Put aside people who say that your financial dreams are greed. Avoid the schemes of getting rich quick, be ethical, never give up and once you get it, help others to get there too.