Arcachon
16-11-14, 20:06
http://www.businessinsider.com/how-i-became-a-millionaire-by-30-2014-11?IR=T
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 nine years later it was $20,000 a month. 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 car until my
businesses and investments were producing multiple secure flows of income. I was still
driving a Toyota Camry when I had become a millionaire. 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 a car only because I knew it could
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.
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. When I
was 26 years old, I was in retail and the store I worked at closed at 7 p.m. Most times
you could find me there at 11 p.m. making an extra sale. Never try to be the smartest
or luckiest person — just make sure you outwork everyone.
"If you're born poor, it's not your mistake. But if you die poor, it is your mistake."
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.16/11/2014 How I Became A Millionaire By30- Business Insider
http://www.businessinsider.com/how-i-became-a-millionaire-by-30-2014-11?IR=T 3/3
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. The second
company I started required a $50,000 investment. That company has paid me back
that $50,000 every month for the last 10 years.
My third investment was in real estate, where I started with $350,000, a large part of
my net worth at the time. I still own that property today and it continues to provide
me with income. 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 $10 million, not $1 million. The single biggest financial mistake
I've made was not thinking big enough. I encourage you to go for more than a million.
There is no shortage of money on this planet, only a shortage of people thinking big
enough.
Apply these 10 steps and they will make you rich. 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.
This article originally appeared at Entrepreneur. Copyright 2014. Follow
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 nine years later it was $20,000 a month. 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 car until my
businesses and investments were producing multiple secure flows of income. I was still
driving a Toyota Camry when I had become a millionaire. 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 a car only because I knew it could
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.
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. When I
was 26 years old, I was in retail and the store I worked at closed at 7 p.m. Most times
you could find me there at 11 p.m. making an extra sale. Never try to be the smartest
or luckiest person — just make sure you outwork everyone.
"If you're born poor, it's not your mistake. But if you die poor, it is your mistake."
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.16/11/2014 How I Became A Millionaire By30- Business Insider
http://www.businessinsider.com/how-i-became-a-millionaire-by-30-2014-11?IR=T 3/3
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. The second
company I started required a $50,000 investment. That company has paid me back
that $50,000 every month for the last 10 years.
My third investment was in real estate, where I started with $350,000, a large part of
my net worth at the time. I still own that property today and it continues to provide
me with income. 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 $10 million, not $1 million. The single biggest financial mistake
I've made was not thinking big enough. I encourage you to go for more than a million.
There is no shortage of money on this planet, only a shortage of people thinking big
enough.
Apply these 10 steps and they will make you rich. 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.
This article originally appeared at Entrepreneur. Copyright 2014. Follow