Getting rich and becoming a millionaire is a taboo topic. Saying it can be done
by the age of 30 seems like a fantasy.
It
shouldn’t be taboo and it is possible. At the age of 21, I got out of
college, broke and in debt, and by the time I was 30, I was a millionaire.
Here are the 10 steps that will
guarantee you will become a millionaire by 30.
1. Follow the money. In today’s economic
environment you cannot save your way to millionaire status. The first step is
to focus on increasing your income in increments and repeating that. My income
was #3,000 a month and three years later it was #20,000 a month as a student
and a businessman. Start following the money and it will force you to control
revenue and see opportunities.
2. Don’t show off -- show up! I
didn’t buy my first luxury watch or shoe until my businesses and investments
were producing multiple secure flows of income. Be known for your work ethic,
not the trinkets that you buy.
3. Save to invest, don’t save to save. The only reason to save money is to invest
it. Put your saved money into secured, sacred (untouchable)
accounts. Never use these accounts for anything, not even an emergency. This
will force you to continue to follow step one (increase income). To this day,
at least twice a year, I am broke because I always invest my surpluses into
ventures I cannot access.
4. Avoid debt that doesn’t pay you. Make
it a rule that you never use debt that won’t make you money. I borrowed money
for things that will only increase my income. Rich people use debt to leverage
investments and grow cash flows. Poor people use debt to buy things that make
rich people richer.
5. Treat money like a jealous lover. Millions wish for financial freedom, but
only those that make it a priority have millions. To get rich and stay rich you
will have to make it a priority. Money is like a jealous lover. Ignore it and
it will ignore you, or worse, it will leave you for someone who makes it a
priority. But be watchful not to take it above your creator.
6. Money doesn’t sleep. Money doesn’t know about clocks, schedules or
holidays, and you shouldn’t either. Money loves people that have a great work
ethic. Never try to be the smartest or luckiest person -- just make sure you
outwork everyone.
7. Poor makes no sense. I have been poor,
and it sucks. I have had just enough and that sucks almost as bad. Eliminate
any and all ideas that being poor is somehow OK. Bill Gates has said, "If
you’re born poor, it’s not your mistake. But if you die poor, it is your
mistake."
8. Get a millionaire mentor. Most of us were brought up middle class or
poor and then hold ourselves to the limits and ideas of that group. I have been
studying millionaires to duplicate what they did. Get your own personal
millionaire mentor and study them. Most rich people are extremely generous with
their knowledge and their resources.
9. Get your money to do the heavy lifting. Investing is the Holy Grail in becoming a
millionaire and you should make more money off your investments than your work.
If you don’t have surplus money you won’t make investments. Investing is the
only reason to do the other steps, and your money must work for you and do your
heavy lifting.
10. Shoot for something higher. The single biggest financial mistake
I’ve made was not thinking big enough. I encourage you to go for something
that will make you bigger than your imaginations. There is no shortage of money
on this planet, only a shortage of people thinking big enough.
Steer clear of people that suggest
your financial dreams are born of greed. Avoid get-rich-quick schemes, be
ethical, never give up, and once you make it, be willing to help others get
there too. "IF YOU BELIEVE IT, THEN YOU CAN ACHIEVE IT"
No comments:
Post a Comment