How To Become A Millionaire By Age 30
Do you want to learn how to become a millionaire by 30? Being rich shouldn’t just be a dream. Follow these tips and discover how easy it is to have great fortune early in your career. It involves a lot of luck, a lot of efforts, and a lot of risks.
However, now that I’m in my 40s, in retrospect, I should have taken even more risk. Taking more calculated risk is a key theme if you want to become a millionaire at a relatively young age.
In today’s article, I will discuss the top 10 tips on how to become a millionaire before the age of thirty.
1. Find a millionaire mentor
Most of us grew up in a poor or middle class and we limit ourselves to the ideas of one group. For you to become rich, you have to take time to study millionaires in order to duplicate what they did. Find your personal mentor and study him. Most rich people are very generous with their knowledge and resources.
2. Follow the money
In today’s economic environment, you cannot earn millionaire status. The first step is to focus on increasing your income in increments and repeating that. For example, if your income is N100, 000 a month and nine years later you should be gunning for N 200,000 a month. Start following the money and that will force you to control your income and see opportunities.
3. 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 stay that way 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.
4. Don’t brag, show up for work
Here in Nigeria, every rich people want to show off their wealth. Buying expensive cars, luxury watches and living a luxury life is not adding to your income. Your businesses and investments should be producing multiple safe streams of income that will make you become a millionaire. Be recognized for your work ethic, not for the things you buy.
5. Save to invest, don’t save to save
The only reason to save money is to invest it later. Put it in a safe and untouchable account. Never use these accounts, not even for an emergency. This will force you to follow step one (follow the money).
6. Avoid debts that do not pay you
To become a millionaire try as much to avoid debt. It is not advisable to borrow money to buy expensive things, though borrowing to invest could increase my income. Rich people use debt to leverage investments and grow their cash flows. Poor people use debt to buy things that make the rich richer.
7. Money does not sleep
Money doesn’t know clocks, schedules, or vacations, and neither should you. Money loves people who have a work ethic.
Working hard and diligent pays. It depends on how you go the extra mile in what you do will determine how far you can go in life. Never try to be the smartest or luckiest person, just make sure you work harder than everyone else.
8. Being poor doesn’t make sense
I’ve been poor and it sucks. I had enough and that sucked too. Eliminate all ideas that being poor are somehow okay. Bill Gates said, “If you are born poor, it is not your mistake. But if you die poor, it’s your fault”.
9. Make your money lift the heavy stuff
Investing is the Holy Grail to becoming 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.
10. Aim for 10 million, not 1 million
The biggest financial mistake I’ve made was not thinking big. There is no shortage of money on this planet, just a shortage of people who don’t think big.
Apply these 10 steps and you will become a millionaire. Put aside people who say your financial dreams are out of greed. Avoid get-rich-quick schemes, be ethical, never give up, and once you do, help others get there too.